Spotify reportedly filed for an IPO, Roku launches a streaming service, and more. Dana Wollman, Executive Editor at Engadget, joins Cheddar to discuss the latest headlines in tech.
According to reports, Spotify will list directly at the NYSE. Wollman says this is proof that the company needs money badly. She also talks about the steep competition within the music streaming industry right now with Apple Music, Spotify, YouTube, and Google all getting in the game.
Plus, Roku plans to debut its new streaming service at the Consumer Electronics Show on January 9th. Now the streaming company won't be physically manufacturing a device like Amazon or Google does, but it will be licensing the software to other companies. Roku was up 6% on Wednesday after the news was announced.
The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them.
Ed Egilinsky, managing director and head of sales and distribution & alternatives with Direxion, joined Cheddar News to discuss how bond traders are reacting to the latest consumer price index data and how they're positioning portfolios ahead of next week's release of Nvidia's earnings. Egilinsky also discussed some of the other bigger-cap companies, including Alphabet, Amazon and Apple.
Facebook and Instagram will require political ads running on their platforms to disclose if they were created using artificial intelligence, their parent company announced on Wednesday.
