Google's AI Breakthrough Hits Memory Chip Stocks, Henkel Acquires Olaplex for $1.4B, Navan Reports Unexpected Profit

Google's AI breakthrough has led to a sell-off in memory chip stocks such as Micron, SanDisk, and Western Digital. Analysts are pushing back on the idea that Google's technology would affect demand for these chips, which are in short supply. Meanwhile, Olaplex is being acquired by Henkel for $1.4 billion after its IPO in 2021 and a subsequent lawsuit. Navan, an online expense management company, has reported a surprise profit with revenue up 35% YoY, leading to a 24% share price increase.