Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, November 17th, and I'm your host, Kim Khan. Our top story so far.

Amazon founder Jeff Bezos is creating an AI startup that he will help manage as co-chief executive.

The New York Times reports that the company is called Project Prometheus and will start

with $6.2 billion in funding, partly from Bezos. That will make it one of the most well-financed

early-stage startups in the world. This is the first time Bezos has taken a formal operational

role in a company since he stepped down as CEO of Amazon in July

2021, but he is deeply involved in Blue Origin. Project Prometheus is focusing on technology

that dovetails with Bezos' interest in taking people to outer space. The company is focusing

on AI, which will help in engineering and manufacturing in several fields, including computers,

aerospace, and automobiles.

It's not clear where Project Prometheus will be based, though.

Bezos' co-founder and co-chief executive is Vic Bajaj, a physicist and chemist who worked

with Google co-founder Sergey Brin at Google's X, a research initiative often called

The Moonshot Factory.

Project Prometheus has already hired nearly 100 people,

including researchers poached from top companies such as OpenA.I., DeepMind, and Meta Platforms.

Among active stocks, Alphabet is rallying after Berkshire Hathaway disclosed a stake at its latest

13F filing late Friday. Berkshire held 17.85 million alphabet shares as of September 30th,

its 10th largest equity holding. Overall, the stock is about 1.6% of Berkshire's portfolio.

Novo Nordisk is cutting prices to challenge rival Eli Lilly in the obesity drug market,

signaling a more aggressive push to regain U.S. market share.

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