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Arista Networks – AI Fabric Sales Set to Double, Scale-Up Is Coming In 2028 | Chip Stock Investor

chipstockinvestor.com 11-12-26

SpaceX's $24B Starbase supercomputer plan slipped past a key roadblock

Elon Musk's SpaceX seeks a Starbase tax break for a $24B gas plant and supercomputer as Texas's new governor eyes data centers.

teslarati.com 11-12-26

Spot gold slides to $3,864/oz after U.S. existing-home sales fall ...

(Kitco News) - Spot gold is falling further into the red this morning after the latest data showed the U.S. housing market performing below expectations...

kitco.com 11-12-26

S&P 500 Edges Higher as Energy and Communication Services Lead Gains The S&P 500 was modestly higher in midday trading,

The S&P 500 was modestly higher in midday trading, rising about 0.17% to 7,632.36 as strength in energy and communication services offset weakness in...

11-12-26

AI is hurting Google. That is the point. | NOAH

Pressure on the world's most powerful search business is evidence of AI's disruptive force. Investors should ask who captures the value next, rather than...

noah-news.com 11-12-26

U.S. Existing Home Sales Fall 5.5% in October, Missing Expectations U.S. existing home sales fell sharply in October, declining 5.5%

fell sharply in October, declining 5.5% month over month compared with expectations for a 3.5% decrease. The annualized sales rate...

11-12-26

Nvidia CEO Huang resigns amid affair scandals, board names CFO Colette Kress interim CEO

Nvidia CEO Jensen Huang is resigning following reports that he had an affair with a fellow executive at the AI giant and after he...

finance.yahoo.com 11-12-26

‘No family dinners’: AMD boss Lisa Su is Jensen Huang’s cousin — with Nvidia on the ropes, is this her time to shine?

Jensen Huang is officially out at Nvidia — but AMD, Nvidia's top competitor, is being led by his talented cousin.

finance.yahoo.com 11-12-26

Nvidia live updates: Jensen Huang resigns, CFO Colette Kress to serve as interim CEO

Follow along for live updates and reactions to reports of Nvidia CEO Jensen Huang's involvement in two extramarital affairs and exit from the company.

finance.yahoo.com 11-12-26

U.S. Bank Expands Middle Market Banking Team With 60 New Roles Nationwide U.S. Bancorp (NYSE: USB) is expanding its Middle

U.S. Bancorp (NYSE: USB) is expanding its Middle Market banking business, adding 60 roles across the United States as the bank targets further growth...

11-12-26

Bristol Myers Squibb Unifies Research and Development Under Cristian Massacesi Bristol Myers Squibb (NYSE: BMY) announced plans to combine its

(NYSE: BMY) announced plans to combine its research and development functions into a single end-to-end organization as part of an effort...

11-12-26

ServiceNow Launches Autonomous CRM Engine to Speed Legacy CRM Migrations ServiceNow (NYSE: NOW) introduced Autonomous CRM Engine, a new AI-native

ServiceNow (NYSE: NOW) introduced Autonomous CRM Engine, a new AI-native solution designed to help enterprises move from complex legacy CRM platforms to ServiceNow CRM...

11-12-26

NASDAQ:NVDA

Nvidia CEO Huang resigns amid affair scandals, board names CFO Colette Kress interim CEO

Nvidia CEO Jensen Huang is resigning following reports that he had an affair with a fellow executive at the AI giant and after he admitted to having a separate affair with a woman who US intelligence officials believe is a Chinese spy.

(finance.yahoo.com)

Nvidia live updates: Jensen Huang resigns, CFO Colette Kress to serve as interim CEO

Follow along for live updates and reactions to reports of Nvidia CEO Jensen Huang's involvement in two extramarital affairs and exit from the company.

(finance.yahoo.com)

Nvidia reportedly preparing to oust CEO Huang after alleged affairs with spy, Nvidia exec

Embattled Nvidia (NVDA) CEO Jensen Huang was allegedly involved in a second extramarital affair.

(finance.yahoo.com)
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NVIDIA Expands Korea AI Strategy With Investments in Point2, Motif, RLWRLD and Upstage

NVIDIA announced new planned investments in Korean artificial intelligence startups, expanding its exposure across AI infrastructure, foundation models, enterprise software and robotics.

The company confirmed an investment in Point2 Technology and said additional investments are planned in Motif Technologies, RLWRLD and Upstage. The announcement came during the MSIT-NVIDIA AI Startup Partnership Forum in Seoul, hosted with Korea’s Ministry of Science and ICT.

Point2 develops radio-frequency interconnect technology designed to move data between chips and racks in AI factories, offering an alternative to conventional copper and optical connections. Motif Technologies develops foundation models for AI agents, while RLWRLD is building robotics foundation models for humanoid and industrial robots performing complex physical tasks.

Upstage focuses on enterprise AI, including its Solar language models and document AI tools for extracting information and automating business workflows.

The investments broaden NVIDIA’s engagement across the full AI stack, from data-center infrastructure to software and physical AI. They also deepen the company’s relationship with Korea’s technology ecosystem, where more than 1,000 startups already participate in the NVIDIA Inception program.

The initiative reinforces NVIDIA’s strategy of supporting companies that could expand demand for AI computing infrastructure while accelerating development of agentic AI, robotics and next-generation AI factories.
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NVIDIA Says Vera CPU Delivers Faster AI Agent Performance With Higher Energy Efficiency

NVIDIA (NASDAQ: NVDA) said its Vera CPU can improve both AI agent performance and energy efficiency, targeting data centers increasingly constrained by power availability as agentic AI workloads expand.

According to NVIDIA, Vera enables 1.6 times more AI agents per watt than the fastest x86 CPU while delivering industry-leading agent speed. Compared with the most energy-efficient x86 processor tested, Vera delivered roughly twice the agent speed while maintaining strong power efficiency.

The company highlighted early performance results from several partners. Perplexity reported agentic coding workloads running 1.5 times faster on Vera than traditional CPUs, while DeepInfra achieved up to 2.2 times the speed of its best x86 processor in agent orchestration workloads.

Other tests showed ClickHouse scaling nearly linearly across 176 cores, while Daytona brought 1,000 AI-agent sandboxes online in 10.8 seconds compared with 88.4 seconds using x86 infrastructure. Modal reported up to twice the sandbox throughput per core.

The results reinforce NVIDIA’s push beyond GPUs into CPUs and full-stack AI infrastructure, as data center operators increasingly seek to maximize AI workloads per watt while supporting growing numbers of autonomous agents.
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NVIDIA will host a conference call on Tuesday, November 17, at 5 p.m. ET to discuss its financial results for the third quarter of fiscal year 2027, which ended October 25, 2026.
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NVIDIA Unveils Minerva AIOps Platform to Improve AI Factory Uptime and Yield

NVIDIA introduced Minerva, a new AIOps platform designed to give operators end-to-end observability across large-scale AI factories and help maximize GPU productivity.

Minerva combines telemetry from GPUs, networking, storage, schedulers and AI workloads into a unified operational view. NVIDIA said the platform builds a dynamic knowledge graph that maps infrastructure components such as GPUs, SuperNICs, switches and cables together with the workloads running across them.

The platform uses supervised and unsupervised machine learning to analyze billions of data points per hour, detect anomalies, predict emerging failures and correlate related events. Rather than surfacing every individual alert, Minerva is designed to group related symptoms into a smaller number of actionable incidents with likely root causes.

NVIDIA is positioning the platform around “AI factory yield,” which includes metrics such as GPU hours, goodput, cluster uptime and token production. The company said Minerva can help extend time between interruptions, reduce repair times and filter large volumes of telemetry into more meaningful operational signals.

Minerva also includes a native AI assistant and can connect with external agentic AI tools. This allows operators to investigate cluster health through natural-language queries and receive recommended remediation steps, while still keeping humans in the loop or connecting actions to automated infrastructure systems.

IREN is already using Minerva, while Aolani, Bitdeer AI, IBM, Jio, Lambda, Quake AI and Tesla plan to deploy the platform. Dell Technologies, Lenovo and Supermicro are also expected to offer Minerva as part of their AI factory operations portfolios.

The launch expands NVIDIA’s push beyond chips and systems into the software layer used to operate increasingly complex AI infrastructure, giving the company another way to deepen its role across the AI data-center stack.
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NVIDIA Launches Isaac ROS 5.0 With Agentic AI Tools for Robotics Development

NVIDIA released Isaac ROS 5.0, expanding its open-source robotics platform with new agentic AI capabilities designed to help developers build, customize and deploy robotics applications faster.

The release adds support for ROS Lyrical and Ubuntu 24.04 while introducing reusable AI-agent skills for setup, manipulation and perception tasks. NVIDIA said new agent-ready documentation and workflows can help AI agents translate developer intent into working robotics applications more efficiently.

One of the key upgrades is FoundationPose, which now includes an agent-ready inference library that can track object position and orientation up to 5.5 times faster. NVIDIA also added a standalone pick-and-place skill combining detection, depth estimation and pose output for robotics developers.

The broader ecosystem is also expanding. RealSense, Intrinsic, Magna, Flexiv, Universal Robots, Mentee Robotics and others are using Isaac ROS across applications ranging from industrial automation and machine tending to humanoid robotics and autonomous manipulation.

Isaac ROS 5.0 supports hardware ranging from Jetson Orin Nano to Jetson Thor, allowing developers to move from development to on-device deployment as robotics workloads grow more complex. The software is available now as a free and open-source release.
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NVIDIA Launches DSX Ready Program for AI Factory Power and Cooling Systems

NVIDIA introduced DSX Ready, a new qualification program designed to help AI factory builders identify power, cooling and infrastructure products that meet applicable NVIDIA DSX reference-design requirements.

The program launches with two initial categories: battery energy storage systems and cooling distribution units. Qualified BESS products include solutions from Hitachi Energy, LG Energy Solution and Tesla, while qualified CDU providers include LG Electronics, LiquidStack and Vertiv.

DSX Ready is intended to reduce integration risk as AI data centers face increasingly tight power, cooling, water and grid constraints. NVIDIA said the broader DSX platform is designed to treat compute, networking, power, cooling, facilities and software as a single coordinated system rather than separate infrastructure layers.

For battery systems, suppliers complete qualification testing and submit supporting data for NVIDIA review. Cooling providers use a self-qualification suite to determine whether specific CDU products meet NVIDIA’s functional requirements. The company emphasized that qualification does not replace site-level engineering.

NVIDIA plans to add more infrastructure and software categories over time. The initiative reflects the growing importance of power delivery and liquid cooling as AI factories scale to support increasingly dense computing systems.
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NVIDIA, Google and Emerald AI Launch Alliance to Tackle AI Data Center Power Constraints

NVIDIA, Google and Emerald AI have launched the AI Energy Management Alliance, a new coalition aimed at making large AI data centers more flexible in how they consume electricity and accelerating their connection to power grids.

Power availability has become a major constraint on the expansion of U.S. AI infrastructure. The alliance is developing a framework that would allow AI data centers to adjust electricity consumption according to grid conditions by shifting computing workloads, using energy storage or paired generation, and reducing demand during periods of system stress.

The approach could allow utilities to connect large AI facilities more quickly while reducing the need for costly grid upgrades. AEMA plans to establish standardized performance requirements covering response times, power curtailment, emergency operations and data sharing between data centers and grid operators.

The initiative brings together AI companies, data center operators, power producers, utilities and grid operators. For NVIDIA and the broader AI industry, addressing electricity constraints is becoming increasingly important as rapidly expanding AI computing capacity requires substantially more power infrastructure.
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11-12-26WS Investor

US

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S&P 500 Edges Higher as Energy and Communication Services Lead Gains

The S&P 500 was modestly higher in midday trading, rising about 0.17% to 7,632.36 as strength in energy and communication services offset weakness in technology and materials.

Energy was the strongest-performing sector, gaining 1.83%, followed by communication services at 1.00%. Utilities rose 0.64%, consumer staples gained 0.49%, consumer discretionary advanced 0.38% and health care added 0.36%.

The broader market initially traded lower after the open before rebounding sharply during the late morning session. The S&P 500 briefly approached the 7,650 level before giving back part of its gains and stabilizing near 7,630 around midday.

Defensive and cyclical sectors generally outperformed technology. Real estate slipped 0.02%, financials fell 0.04% and industrials declined 0.06%. Information technology was down 0.32%, while materials was the weakest sector with a 0.49% decline.

The mixed sector performance suggests investors were rotating away from some technology and materials names while maintaining exposure to energy, communication services and defensive sectors.

With the S&P 500 holding slightly positive despite weakness in several major sectors, the session reflects a relatively balanced market rather than a broad-based risk-on move.
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U.S. Existing Home Sales Fall 5.5% in October, Missing Expectations

U.S. existing home sales fell sharply in October, declining 5.5% month over month compared with expectations for a 3.5% decrease.

The annualized sales rate dropped to 3.75 million units, below the 3.89 million forecast and down from 3.97 million in the previous month.

The weaker-than-expected figures point to renewed pressure in the U.S. housing market after sales had increased 1.0% in the prior month.

The data suggest elevated borrowing costs and affordability constraints continue to weigh on housing demand, adding another sign of softness in interest-rate-sensitive parts of the U.S. economy.
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U.S. Initial Jobless Claims Rise to 200,000 While Continuing Claims Decline

U.S. initial jobless claims rose to 200,000, above the 194,000 market forecast and up from 191,000 in the previous week.

The increase suggests a modest rise in new unemployment claims, although the overall level remains relatively low.

Continuing jobless claims, meanwhile, fell to 1.697 million from 1.717 million, coming in below expectations of 1.710 million.

The mixed data point to some softening in new claims but continued resilience among those already receiving unemployment benefits, leaving the broader U.S. labor-market picture relatively stable.
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U.S. CPI Rises More Than Expected in October as Core Inflation Holds at 0.3%

U.S. consumer prices rose 0.4% month over month in October, above the 0.3% forecast but slowing from September’s 0.6% increase.

Core CPI, which excludes food and energy, increased 0.3%, also exceeding the 0.2% forecast and matching the previous month’s pace.

Separately, ADP’s weekly employment measure showed private payrolls increasing by 19,800, slightly above the previous reading of 19,500.

U.S. equities traded modestly lower following the data. The S&P 500 was down 0.19%, the Dow Jones Industrial Average fell 0.35%, and the Nasdaq declined 0.06%.

The hotter-than-expected headline and core CPI readings suggest underlying inflation pressures remain persistent, potentially reinforcing expectations that the Federal Reserve will remain cautious about further monetary-policy easing.
U.S. Inflation Expectations Hold at 3.9% as Atlanta Fed Raises Q4 Growth Estimate

U.S. one-year consumer inflation expectations were unchanged at 3.9% in October, according to the New York Federal Reserve, slightly above the 3.8% forecast.

Separately, the Atlanta Fed’s GDPNow model raised its estimate for fourth-quarter economic growth to 3.5% from 3.4%, also slightly above the 3.4% consensus estimate.

The combination points to a U.S. economy that remains relatively resilient while near-term inflation expectations stay elevated.

For Federal Reserve policy, the data are modestly hawkish: stronger growth estimates and inflation expectations above forecast could reduce the urgency for additional near-term rate cuts.
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U.S. Consumer Sentiment Improves in November as Inflation Expectations Ease

U.S. consumer sentiment improved more than expected in November, while both short- and long-term inflation expectations declined.

The University of Michigan Consumer Sentiment Index rose to 51.0 from 48.0, beating the 48.1 forecast. Consumer expectations also improved to 50.9 from 48.8, above expectations of 49.5.

One-year inflation expectations fell to 4.3% from 4.7%, below the 4.6% forecast. Five-year inflation expectations eased to 3.4% from 3.5%, also slightly better than expected.

The combination of stronger sentiment and softer inflation expectations is broadly constructive, suggesting consumers became somewhat less pessimistic while inflation concerns moderated. For monetary policy, the decline in inflation expectations partly offsets the earlier strength in payrolls and wages, leaving the Federal Reserve with mixed signals on the inflation outlook.
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U.S. Payrolls Surge by 165,000 in October as Unemployment Falls to 4.1%

U.S. nonfarm payrolls increased by 165,000 in October, far above the 65,000 forecast and up from 60,000 previously, signaling substantially stronger-than-expected job creation.

The unemployment rate fell to 4.1%, compared with expectations for it to remain at 4.2%.

Average hourly earnings also came in stronger than expected, rising 0.4% month over month versus the 0.3% forecast and previous increase.

Taken together, the data point to a resilient labor market with stronger hiring, lower unemployment and firm wage growth. The report could reduce expectations for near-term Federal Reserve rate cuts, as persistent labor-market strength and wage pressures may keep inflation risks elevated.
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U.S. Jobless Claims Fall to 189,000 as Tech Stocks Slide

U.S. initial jobless claims fell to 189,000, below the 197,000 forecast and down from 195,000 previously, pointing to continued resilience in the labor market.

Continuing jobless claims, however, increased to 1.718 million from 1.695 million, slightly above the 1.710 million forecast. The combination suggests layoffs remain low, while workers already unemployed may be taking somewhat longer to find new jobs.

U.S. equities traded mixed following the data. The Dow Jones Industrial Average rose about 0.54%, while the S&P 500 fell 0.32% and the Nasdaq declined 1.12%.

The stronger initial claims reading may reinforce expectations that the labor market remains relatively firm, potentially limiting the case for faster monetary easing. The heavier decline in the Nasdaq suggests rate-sensitive technology stocks were under greater pressure, while the Dow showed relative strength.
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U.S. Trade Deficit Narrows in September as Exports Rise Faster Than Imports

The U.S. trade deficit narrowed to $105.0 billion in September, slightly better than the $107.9 billion forecast and down from $105.7 billion in the previous month.

Exports increased to $321.5 billion from $315.7 billion, a rise of $5.8 billion. Imports also increased, reaching $426.6 billion from $421.4 billion, but the $5.2 billion gain was smaller than the increase in exports.

The data therefore point to a modest improvement in the U.S. external trade position, with export growth outpacing import growth during the month.
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U.S. Stock Futures Rally After Democratic Midterm Sweep as ADP Employment Matches Prior Month

U.S. stock futures moved sharply higher on Wednesday as investors digested the Democratic sweep of both chambers of Congress and a stronger-than-expected private-sector employment report.

Dow futures climbed about 2.1%, S&P 500 futures rose 1.1%, while Nasdaq futures gained 0.4%. The broader move followed confirmation that Democrats won control of both the House and Senate in the November 3 midterm elections, creating a divided government with Republican President Donald Trump.

Labor-market data also provided support. ADP reported that U.S. private payrolls increased by 86,000 in October, matching the previous month’s reading and exceeding the 67,000 forecast. The result points to continued hiring momentum, although employment growth remains relatively moderate.

The market reaction suggests investors are balancing two themes. The election outcome has increased expectations that large legislative changes may become more difficult, while the ADP report indicates the labor market has not weakened sharply. Together, those factors supported cyclical shares and helped push Dow futures substantially higher.

The Nasdaq’s smaller gain also reflects a more complicated post-election backdrop for technology stocks. Democratic victories have increased investor focus on possible tighter oversight of AI infrastructure and data-center development, particularly after election campaigns in several states highlighted concerns over energy use, utility costs and local opposition to new data centers.

Overall, the combination of greater political clarity and resilient employment data is supporting U.S. equities ahead of the opening bell. However, investors are likely to remain focused on how the new congressional balance may affect fiscal policy, AI regulation and future Federal Reserve decisions.
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NASDAQ:AMD

‘No family dinners’: AMD boss Lisa Su is Jensen Huang’s cousin — with Nvidia on the ropes, is this her time to shine?

Jensen Huang is officially out at Nvidia — but AMD, Nvidia's top competitor, is being led by his talented cousin.

(finance.yahoo.com)
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AMD EPYC Powers Google Cloud TPU 8tx as Confidential AI Infrastructure Expands

AMD (NASDAQ: AMD) announced that its 5th Gen EPYC processors are powering the host infrastructure for Google Cloud TPU 8tx, the first cloud TPU system to support hardware-enforced confidential computing.

The collaboration combines AMD EPYC CPUs with Google’s eighth-generation TPU architecture to support inference, fine-tuning and reinforcement learning workloads while protecting sensitive AI data and models during use.

AMD said EPYC processors handle workload orchestration, data preparation and high-throughput communication with TPU accelerators. The system uses AMD Secure Encrypted Virtualization technology to help keep prompts, model weights and intermediate data encrypted in CPU memory and during transfers between the host and accelerators.

The deployment expands AMD’s role as a host CPU provider for accelerated AI systems. The company said EPYC processors are now used as host CPUs across more than 10 leading hyperscalers and frontier AI labs, spanning systems built around AMD Instinct GPUs, NVIDIA GPUs and custom AI accelerator ASICs.

AMD and Google Cloud have already collaborated across multiple generations of EPYC-based virtual machines and confidential computing services. TPU 8tx extends that relationship into secure AI acceleration.

The announcement strengthens AMD’s position in AI infrastructure beyond GPUs, highlighting EPYC CPUs as a core component of increasingly specialized AI systems where security, memory bandwidth, I/O performance and accelerator coordination are critical.
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AMD Jumps 8% Premarket as Data Center Revenue Nearly Doubles and Q4 Outlook Accelerates

AMD (NASDAQ: AMD) shares rose about 8% in premarket trading after the company reported record third-quarter 2026 revenue, nearly doubled Data Center sales and issued a strong fourth-quarter outlook.

Third-quarter revenue increased 45% year over year to a record $13.4 billion and rose 16% sequentially. Non-GAAP EPS climbed 74% to $2.09, while non-GAAP operating income increased 75% to $3.92 billion.

Data Center was the clear growth engine. Segment revenue surged 97% year over year to a record $8.5 billion, driven by strong demand for EPYC processors and the launch of Instinct MI450 Series GPUs. AMD said demand for Instinct and EPYC products continues to strengthen as production of Helios systems and 6th Gen EPYC “Venice” processors scales.

Operating leverage improved sharply alongside the revenue acceleration. GAAP operating margin expanded to 21% from 14% a year earlier, while non-GAAP operating margin increased five percentage points to 29%. Non-GAAP gross margin was 56%, up from 54% a year earlier.

Performance outside Data Center was more mixed. Client revenue grew 7% to $2.9 billion, while Gaming revenue fell 40% to $773 million due to weaker semi-custom and graphics sales. Embedded revenue increased 29% to $1.1 billion.

AMD also highlighted broader adoption of its AI infrastructure, with Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure running workloads on AMD Helios rack-scale systems. The company continues to expand its AI capabilities through software development and planned acquisitions including World Labs and Taalas.

For the fourth quarter, AMD expects revenue of approximately $17 billion, plus or minus 3%. The midpoint implies roughly 66% year-over-year growth and a 27% sequential increase, signaling a significant acceleration from the already strong third quarter. Non-GAAP gross margin is expected at approximately 55%.

The 8% premarket gain appears to reflect the combination of exceptional Data Center growth, expanding operating margins and an unusually strong Q4 revenue outlook. With Data Center now accounting for the majority of quarterly revenue and management forecasting another sharp sequential increase, investors are increasingly treating AMD’s AI accelerator and server CPU businesses as the central drivers of its growth trajectory.
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AMD Expands Meta AI Partnership as Helios Systems Enter Deployment

AMD (NASDAQ: AMD) said it is expanding its strategic partnership with Meta across CPUs, GPUs, networking, systems and software as the two companies scale infrastructure for Meta’s AI and superintelligence workloads.

Initial AMD Helios rack-scale systems have been installed and are being tested by Meta ahead of a broader deployment. AMD EPYC processors already support Meta’s Muse AI agent, while Meta has deployed millions of EPYC CPUs across multiple generations and is a lead customer for sixth-generation EPYC processors.

AMD Instinct GPUs are also being used in production for training, ranking and recommendation workloads. Meta was an early definition customer for the MI450 architecture and plans to deploy a custom Instinct GPU optimized for its workloads. The collaboration is also influencing future AMD platforms, including the MI500 series and next-generation rack-scale systems.

On the software side, AMD and Meta are working together on ROCm, PyTorch and Triton, including optimization of large-scale AI training on MI350X GPUs. AMD also said its hardware provides Day-0 support for Meta models including Muse Spark Open and Muse Glimmer.

The companies said they are aligning future silicon, software and system roadmaps around Meta workloads, with the goal of building integrated AI infrastructure at gigawatt scale. AMD will also invest $1 billion in Meta’s equity offering.

The announcement strengthens AMD’s position as a supplier to one of the world’s largest AI infrastructure buyers and expands its role beyond individual processors into full rack-scale systems, networking and software.
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AMD Gains as Citi Lifts Price Target to $800, Mizuho Raises Target to $705

Advanced Micro Devices (NASDAQ: AMD) shares rose about 2.7% on Tuesday after analysts issued bullish updates tied to the company’s expanding role in AI infrastructure and server CPUs.

Citi analyst Atif Malik reiterated a Buy rating on AMD and raised his price target to $800 from $575. Malik said Meta’s newly launched Muse AI agent could significantly increase compute demand and strengthen AMD’s position in the server CPU market.

Citi now estimates the CPU total addressable market could grow from $29 billion in 2025 to $300 billion by 2030, implying a roughly 60% compound annual growth rate.

Malik expects AMD to be the primary beneficiary of what he described as a “CPU renaissance,” with Meta viewed as one of AMD’s largest server customers. He also argued that agentic AI could require orders of magnitude more computing power than traditional chatbot workloads (yahoofinance).

Mizuho also became more bullish on AMD, with analyst Vijay Rakesh raising the firm’s price target to $705 from $580 while maintaining an Outperform rating.

The analyst optimism follows a strong run of fundamental catalysts for AMD. The company recently reported record second-quarter revenue of $11.5 billion, up 50% year over year, while Data Center revenue more than doubled to $6.7 billion on strong demand for EPYC server processors and Instinct AI accelerators (yahoofinance).

AMD is also preparing its next generation of AI hardware, including the Instinct MI450 GPUs, 6th Gen EPYC Venice CPUs and Helios rack-scale AI systems.

The combination of higher analyst price targets, expectations for rapidly expanding AI-driven CPU demand and continued strength in AMD’s data center business appears to be supporting the stock’s latest move higher.
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AMD Rose 2.2% After Piper Sandler Initiated Coverage With $600 Target

Advanced Micro Devices (NASDAQ: AMD) shares rose 2.2% yesterday after Piper Sandler initiated coverage of the chipmaker with an Overweight rating and a $600 price target.

AMD has built a strong position in the rapidly expanding AI and data-center market through its Instinct accelerators, EPYC server processors and increasingly complete rack-scale AI infrastructure. Data Center revenue more than doubled year over year to $6.7 billion in the second quarter, driven by strong demand for EPYC processors and Instinct MI350-series GPUs.

The company is also expanding its position in large-scale AI infrastructure. Its latest portfolio includes the MI400-series accelerators, sixth-generation EPYC CPUs and Helios rack-scale systems, giving AMD exposure across AI training, inference and agentic workloads. Major AI and cloud customers working with AMD technology include OpenAI, Meta, Microsoft and Anthropic.

AMD’s combination of accelerating data-center growth, a broader AI product portfolio and expanding hyperscale deployments provides a strong fundamental backdrop as the company competes for a larger share of global AI infrastructure spending.
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AMD Stock Rises 3.5% as CLSA Reiterates Outperform Rating With $710 Price Target

Advanced Micro Devices (NASDAQ: AMD) shares rose 3.5% to $523.37 on Wednesday as CLSA reiterated its Outperform rating on the semiconductor company.

CLSA maintained a $710 price target on AMD, implying approximately 36% upside from the stock price shown.

The reiterated bullish rating comes as AMD remains a major beneficiary of growing investment in artificial intelligence infrastructure, with investors closely watching the company’s ability to expand its position in the AI accelerator market.

AMD shares have attracted strong investor attention as the company competes for a larger share of AI computing demand while continuing to expand its data center processor business.
AMD, Cisco and HUMAIN Expand Saudi AI Infrastructure With Instinct GPUs

AMD (NASDAQ: AMD), Cisco (NASDAQ: CSCO) and Saudi Arabia’s HUMAIN announced Monday that their first AMD-powered AI infrastructure is now operational in the Kingdom, marking a major step in their plans to build large-scale sovereign AI capacity.

The production system uses AMD Instinct MI355X GPUs and EPYC CPUs alongside Cisco Silicon One networking and 800G optics. HUMAIN is already using the infrastructure to provide GPU-as-a-service for AI workloads ranging from model training to inference.

The companies also announced the next major phase of the project. Beginning in 2027, they plan to deploy up to 250 megawatts of additional AI infrastructure based on AMD Instinct MI400 Series GPUs, EPYC processors and ROCm software, combined with Cisco networking technology. Capacity is expected to begin coming online in the second half of 2027.

The expansion forms part of the previously announced AMD-Cisco-HUMAIN joint venture, which remains on track to deploy up to 1 gigawatt of AI infrastructure by 2030. The companies said strong customer demand is supporting the buildout.

The project is particularly significant for AMD as it expands the footprint of its Instinct accelerators in large-scale AI data centers, competing for a greater share of a market currently dominated by NVIDIA. For Cisco, the project provides another major opportunity for its high-speed networking technology as AI clusters become larger and more demanding.

The partnership also supports Saudi Arabia’s ambition to become a major global AI infrastructure hub, with locally operated computing capacity designed to give governments and enterprises greater control over their data, models and AI systems.
AMD Upgraded to Strong Buy at Raymond James as Price Target Jumps to $641

Advanced Micro Devices (NASDAQ: AMD) received a bullish analyst upgrade Tuesday, with Raymond James raising its rating to Strong Buy from Outperform and lifting its price target to $641 from $565.

Analyst Simon Leopold's new target represents substantial upside from AMD's recent price of about $477.14.

Why the Upgrade Matters

The upgrade reinforces optimism around AMD's position in the rapidly expanding AI and data-center semiconductor market.

AMD has become one of the most important challengers to Nvidia in AI accelerators, while also maintaining a strong presence in server CPUs through its EPYC product line. The company's growing exposure to hyperscale data centers, enterprise AI infrastructure and next-generation computing gives it significant leverage to continued AI capital spending.

The higher price target suggests Raymond James sees stronger long-term earnings potential as AMD expands its AI product portfolio and competes for a larger share of accelerator and data-center spending.

The shift from Outperform to Strong Buy is also notable because it signals increased conviction rather than simply maintaining an already-positive stance.

Investors will now focus on AMD's AI accelerator shipments, data-center revenue growth, margins and its ability to gain market share as the global AI infrastructure buildout continues.
MD Acquires Taalas to Strengthen AI Inference Chip Portfolio

AMD (NASDAQ: AMD) has agreed to acquire Taalas, a Toronto-based developer of specialized AI inference silicon, as the chipmaker expands its technology portfolio for the rapidly growing AI inference market.

Founded in 2023, Taalas develops technology designed specifically to optimize AI inference dataflows, reducing compute and memory bottlenecks associated with more general-purpose architectures. AMD said the technology could provide significant improvements in inference performance and efficiency.

The acquisition is intended to complement AMD's broader full-stack AI platform, which includes Instinct GPUs, EPYC CPUs, ROCm software and Helios rack-scale systems.

## AMD Targets Growing AI Inference Demand

AMD plans to integrate Taalas' technology into its accelerator roadmap and combine it with Instinct GPUs to develop system-level AI solutions.

The strategy reflects the industry's increasing focus on inference — the process of running trained AI models — as artificial intelligence moves into high-volume, real-time applications. More specialized silicon can potentially lower the computing, memory and energy requirements associated with deploying increasingly large AI models.

AMD said Taalas' engineering team will also strengthen its AI capabilities while expanding the company's existing semiconductor and AI presence in Canada.

Financial terms of the transaction were not disclosed. The acquisition remains subject to customary closing conditions and regulatory approvals.

The deal represents another step in AMD's effort to build a broader AI computing platform and compete across multiple layers of the AI infrastructure market, with Taalas adding specialized inference technology alongside AMD's existing GPU-based accelerator portfolio.
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Gold

Spot gold slides to $3,864/oz after U.S. existing-home sales fall 5.5% to 3.75 million in October | Kitco News

Spot gold slides to $3,864/oz after U.S. existing-home sales fall ...

(kitco.com)
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Gold Falls 1.6% as Hotter U.S. Inflation Data Pressures Rate-Cut Expectations

Gold prices fell sharply, with December COMEX futures dropping 1.62% to $3,935.50 per ounce, extending a five-day decline of roughly 4.3%.

The latest selling was driven in part by hotter-than-expected U.S. inflation data. October consumer prices rose 0.4% month over month, above the 0.3% forecast, while core CPI increased 0.3%, also exceeding expectations for a 0.2% rise.

The stronger inflation readings reduced expectations for near-term Federal Reserve rate cuts, increasing pressure on non-yielding assets such as gold. Higher-for-longer interest-rate expectations can also support U.S. Treasury yields and the dollar, both of which typically create headwinds for precious metals.

Gold consequently fell below the psychologically important $4,000 level after trading above $4,100 earlier in the five-day period. December futures had reached roughly $4,150 before momentum reversed.

A brief recovery toward the $4,050-$4,070 region on November 11 failed to hold, and renewed selling pushed the contract toward $3,935 by early November 12.

With gold now down more than 4% over five days, the price action points to a pronounced short-term correction, with stronger U.S. inflation and shifting interest-rate expectations adding to downward pressure.
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Gold Extends Rally While Brent Rebounds After Sharp Selloff

Gold and Brent crude both moved higher on Thursday, although the two markets were reacting to different forces.

Gold futures rose about 1.5% to $4,135 an ounce, extending the previous session’s strong advance. The move comes after gold surged alongside a softer U.S. dollar and lower Treasury yields, conditions that typically support non-yielding bullion. Safe-haven demand also remains elevated amid geopolitical uncertainty.

Brent crude futures climbed about 0.7% to $95.31 a barrel, recovering part of the previous session’s steep decline. Oil had fallen sharply as signs of possible diplomacy involving Iran reduced fears of prolonged supply disruption in the Middle East.

The rebound in Brent suggests some stabilization after the selloff, but crude remains sensitive to any change in geopolitical expectations or supply risk.

Gold, meanwhile, continues to benefit from a more supportive macro backdrop, with softer yields and persistent geopolitical uncertainty reinforcing demand for defensive assets.

The divergence remains notable: oil is attempting to recover from a geopolitically driven collapse, while gold is holding near elevated levels as investors continue to seek protection against uncertainty.
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Gold and Bitcoin Rally as Democratic Midterm Sweep Reshapes U.S. Market Outlook

Gold and Bitcoin moved sharply higher on Wednesday while market volatility declined as investors digested a sweeping Democratic victory in the U.S. midterm elections that handed the party control of both the House and Senate.

Democrats captured both chambers of Congress in the November 3 elections, creating a divided government with Republican President Donald Trump and raising expectations that parts of the administration’s legislative agenda could face greater resistance during the second half of his term.

Gold futures jumped 2.9% to about $4,055 an ounce in early trading, rebounding strongly above the $4,000 level. The move coincided with a weaker U.S. dollar and a post-election rally in Treasuries. The move is particularly notable because gold had struggled as a traditional safe haven in the weeks leading into the election. The post-election rebound suggests that falling yields, dollar weakness and renewed political uncertainty may be providing support for the non-yielding metal.

Bitcoin also recovered strongly, rising 1.6% to around $78,200 after briefly falling below $76,000 overnight. The rebound came as broader risk sentiment stabilized following the election result. Lower interest-rate expectations can provide support for speculative assets such as cryptocurrencies, although Bitcoin has also been dealing with crypto-specific volatility following recent market disruptions.

Treasury markets showed an important shift around the election. The 10-year yield had closed November 3 at about 4.95%, up 1.2% on the day, but yields subsequently moved lower as investors assessed the implications of Democratic congressional control.

Meanwhile, the CBOE Volatility Index fell 8.2% to 19.13. The decline in the VIX suggests that the removal of election uncertainty outweighed immediate concerns about political confrontation in Washington.

The market response therefore presents an unusual combination: gold is benefiting from lower yields and political uncertainty, Bitcoin is rebounding alongside improving risk appetite, and volatility is declining as investors gain greater clarity over the political landscape.

The Democratic sweep could still create significant sector-level consequences. With Congress now positioned to challenge Trump administration policies and increase oversight, markets are likely to focus increasingly on fiscal spending, tariffs, energy policy and regulation of the rapidly expanding AI and data-center industries.
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Brent Crude Rebounds While Gold Falls as Middle East Tensions Shift Inflation Expectations

Brent crude rose while gold moved sharply lower on Tuesday, as renewed Middle East tensions pushed energy prices higher but also strengthened concerns that inflation could remain elevated.

Brent futures climbed about 1.9% to $106.71 a barrel, reversing part of the previous session’s steep decline. The rebound followed renewed geopolitical tensions involving the U.S. and Iran, which brought supply risks back into focus after hopes for diplomatic progress had reduced the oil market’s risk premium.

Oil prices moved higher after reports of a U.S. strike on Iran’s Qeshm Island, while comments from Iranian officials suggested the two sides remain far apart on a potential agreement. The developments revived concerns over Middle East supply disruptions and restored part of the geopolitical risk premium that had been removed from prices a day earlier. (Reuters)

The move suggests traders are once again pricing in the possibility of disruptions to regional energy flows, particularly if tensions spread to shipping routes or critical oil infrastructure. Brent had fallen sharply a day earlier as expectations for negotiations increased, making Tuesday’s rebound largely a reassessment of those assumptions.

Gold moved in the opposite direction. Futures fell about 1.5% to $3,910.10 an ounce, extending pressure on bullion despite the increase in geopolitical uncertainty.

The decline appears to reflect the inflation and interest-rate implications of higher oil prices. A renewed rise in energy costs can increase inflation expectations and reinforce the case for tighter or more prolonged restrictive monetary policy. Higher interest rates and bond yields generally reduce the relative appeal of non-yielding assets such as gold.

The contrasting moves in Brent and gold highlight how the same geopolitical event can affect asset classes differently. Oil is benefiting directly from renewed supply-risk concerns, while gold is facing pressure from the possibility that higher energy prices could keep inflation and interest rates elevated.

Near-term direction for both markets is likely to remain tied to developments between Washington and Tehran. Further escalation could support crude prices, while gold may continue to depend more heavily on how the conflict affects Treasury yields, the U.S. dollar and expectations for Federal Reserve policy.
Gold and Silver Rise After Weak U.S. Jobs Data Boosts Rate-Cut Expectations

Gold and silver moved higher on Friday after weaker-than-expected U.S. employment data strengthened expectations for a more accommodative Federal Reserve policy outlook.

December gold futures rose 0.57% to about $4,226 per ounce, while December silver futures gained 1.09% to around $61.84.

The move followed a notably soft September jobs report. Nonfarm payrolls increased by just 29,000, well below expectations of 89,000, while the unemployment rate rose to 4.2%. Wage growth also cooled, with average hourly earnings rising 3.0% year over year, below the 3.2% consensus.

For precious metals, weaker labor-market data are supportive because they can increase expectations for lower interest rates and reduce the opportunity cost of holding non-yielding assets such as gold and silver.

Silver outperformed gold during the session, with the stronger percentage gain also reflecting its higher volatility and dual role as both a precious and industrial metal.
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Gold, Silver and Bitcoin Fall as Rising Treasury Yields Pressure Alternative Assets

Gold, silver and Bitcoin moved sharply lower on Monday as rising U.S. Treasury yields and renewed inflation concerns weighed on assets that do not generate income.

Gold futures fell 3.9% to about $4,151.80 an ounce, while silver dropped 5.5% to $61.24. Bitcoin declined 1.9% to around $82,924, extending the broader risk-off move across markets.

The selloff comes as U.S. bond yields continue to climb, with the 10-year Treasury yield moving above 5.2%. Higher yields increase the opportunity cost of holding gold and silver, while also tightening financial conditions for speculative assets such as Bitcoin.

Rising oil prices are adding to the pressure by pushing inflation expectations higher. That makes investors less confident that the Federal Reserve will be able to ease monetary policy quickly and increases the possibility that interest rates remain elevated for longer.

Silver is underperforming gold because it carries both precious-metal and industrial exposure, making it more sensitive to shifts in growth expectations and market volatility. Bitcoin is also being pressured by the same higher-rate environment as investors reduce exposure to riskier assets.

The common theme across all three markets is the sharp rise in real and nominal yields. Unless Treasury yields stabilize, gold, silver and Bitcoin could remain vulnerable despite their different long-term investment narratives.

Gold steadies above $4,300 as oil eases and yields stay high - Kitco AM Report | Kitco News

Gold steadies above $4,300 as oil eases and ...

(kitco.com)
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Gold and Bitcoin Rise as Investors Seek Safety and Risk Exposure After Fed Decision

Gold and Bitcoin moved higher Friday, with both assets benefiting from shifting expectations around inflation, interest rates and broader market risk sentiment.

December gold futures rose 0.60% to about $4,426 an ounce, extending gains as investors continued to assess the Federal Reserve’s latest rate increase and the outlook for inflation. Gold remained supported by demand for defensive assets, even as oil prices retreated and some immediate geopolitical supply concerns eased.

Bitcoin climbed 2.13% to around $78,019, recovering further from recent weakness. The cryptocurrency moved steadily higher through the session and briefly approached $78,500 as risk appetite improved.

The moves reflect different parts of the same macro environment. Gold is benefiting from continued demand for inflation protection and safe-haven exposure, while Bitcoin is drawing support from stronger appetite for higher-risk assets and renewed interest in crypto after the Fed’s policy decision reduced some uncertainty around the near-term rate outlook.

For both markets, the next major drivers are likely to be U.S. inflation data, Treasury yields, the dollar and any further signals from Federal Reserve officials about the possibility of additional rate increases.

Gold price holding near session highs as US pending home sales rise 0.3% | Kitco News

Gold price holding near session highs as ...

(kitco.com)
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UK

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UK Manufacturing Rebounds in September While Business Investment Slows

UK manufacturing production rose 0.7% month over month in September, beating expectations for a 0.5% decline and matching the previous month’s 0.7% increase.

Industrial production increased 0.3% in September, also outperforming the forecast for a 0.4% contraction, though slowing from the prior 0.7% gain.

Business investment grew 0.4% quarter over quarter in the third quarter, in line with expectations but sharply below the 1.8% increase recorded in the previous quarter.

The data point to stronger-than-expected industrial activity at the end of the third quarter, while the slowdown in business investment suggests a more cautious corporate spending backdrop.
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UK Economy Grows 0.7% in Q3 as September GDP Rises 0.2%

The UK economy expanded 0.7% quarter over quarter in the third quarter, matching expectations and accelerating from 0.5% growth in the previous quarter.

On an annual basis, GDP increased 1.9% in Q3, also in line with forecasts and up from 1.4% previously.

Monthly GDP rose 0.2% in September, outperforming expectations for no growth and improving from a flat reading in the previous month.

The data point to firmer economic momentum heading into the fourth quarter, with both quarterly and annual growth accelerating and September activity exceeding expectations.
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UK Retail Sales Growth Edges Up to 1.1% in October

UK retail sales growth improved slightly in October, with the BRC Retail Sales Monitor rising 1.1% year over year.

The reading came in just below the 1.2% forecast but was stronger than the 1.0% increase recorded previously.
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UK House Prices Fall 0.6% in October, Missing Expectations

UK house prices fell 0.6% month over month in October, significantly weaker than expectations for no change and following a 0.1% decline previously.

On an annual basis, house prices declined 1.2%, compared with the 0.3% contraction forecast and the previous 0.1% decline.

The sharper-than-expected deterioration points to renewed weakness in the UK housing market, suggesting affordability pressures and borrowing costs continue to weigh on demand.
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Bank of England Holds Rates at 4.00%, Matching Forecast

The Bank of England kept its benchmark interest rate unchanged at 4.00% in November, in line with market expectations.

The decision follows the previous 3.75% rate and therefore represents a 25-basis-point increase from the prior level.
UK Labor Market Strengthens as Employment Jumps and Unemployment Falls

The U.K. labor market showed stronger-than-expected momentum in August, with employment rising sharply and the unemployment rate declining.

Employment increased by 102,000 on a three-month-on-three-month basis, far above the 20,000 consensus estimate and up from the previous increase of 67,000.

The unemployment rate fell to 4.7%, better than the 4.9% forecast and down from 4.9% previously.

The data point to a firmer labor market than economists expected, with stronger hiring and lower unemployment.
UK Economy Grows 0.1% in August as Manufacturing and Industrial Output Beat Expectations

The U.K. economy expanded 0.1% month over month in August, outperforming expectations for a 0.1% contraction, although growth slowed from the previous month’s 0.4% increase.

Manufacturing production rose 1.2% month over month, significantly stronger than the 0.1% decline expected by economists and slightly above the previous month’s 1.0% gain.

Industrial production also surprised to the upside, increasing 0.8% versus expectations for a 0.1% decline and accelerating from 0.3% previously.

The trade deficit narrowed to £18.01 billion, better than the £21.90 billion deficit expected and an improvement from the previous reading shown in the data.

Overall, the figures point to more resilient U.K. economic activity than expected, particularly in manufacturing and industrial production.
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UK Retail Sales Growth Accelerates to 1.0% in September

UK retail sales increased 1.0% year over year in September, according to the BRC Retail Sales Monitor, exceeding expectations for a 0.8% gain and improving from 0.5% growth in the previous month.

The stronger reading suggests consumer spending gained momentum during September despite continued pressure from elevated borrowing costs and broader cost-of-living concerns.
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UK House Prices Stabilize in September as Mortgage Rate Holds at 6.58%

UK house prices were unchanged month over month in September, matching market expectations and improving from a 0.3% decline in August.

On an annual basis, the Lloyds House Price Index was also flat at 0.0%, compared with a 0.4% decline in the previous month. The figures suggest the housing market stabilized in September after recent weakness.

Separately, the average UK mortgage rate remained unchanged at 6.58% in September.

The combination of stable house prices and unchanged mortgage costs points to a relatively steady housing backdrop, although elevated borrowing rates continue to constrain affordability and demand.
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The UK S&P Global Construction PMI rose to 46.1 in September from 44.3 in August, beating expectations for a reading of 45.0.

Despite the improvement, the index remained below the 50 threshold that separates expansion from contraction, indicating that construction activity continued to decline during the month.

The stronger-than-expected reading suggests the pace of contraction eased in September, offering a modestly more positive signal for the UK construction sector.
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NASDAQ:SPCX

SpaceX's $24B Starbase supercomputer plan slipped past a key roadblock

Elon Musk's SpaceX seeks a Starbase tax break for a $24B gas plant and supercomputer as Texas's new governor eyes data centers.

(teslarati.com)

US Justice Department probes Nvidia's licensing deal with Groq amid antitrust concerns | Noah Intelligence

The US Department of Justice is examining whether Nvidia's licensing agreement with AI startup Groq was structured to evade antitrust scrutiny, signalling intensified regulation of AI industry mergers.The US Department...

(noah-news.com)

SpaceX's next trillion dollar bet has nothing to do with rockets, Musk tells staff

Elon Musk told SpaceX employees AI revenue will soon surpass Starlink and rockets combined, projecting up to $500 billion a year by 2027.

(teslarati.com)

SpaceX officially closes its Cursor acquisition

AI coding startup Cursor is now officially a part of SpaceX.

(finance.yahoo.com)
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NASDAQ:GOOG

AI is hurting Google. That is the point. | NOAH

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Pressure on the world's most powerful search business is evidence of AI's disruptive force. Investors should ask who captures the value next, rather than sell everyone involved in creating it.

(noah-news.com)
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Alphabet Q3 Revenue Jumps 25% as Google Cloud Growth Surges on AI Demand

Alphabet (NASDAQ: GOOG, GOOGL) reported a strong third quarter of 2026, with revenue rising 25% year over year to $127.6 billion, marking its 13th consecutive quarter of double-digit growth.

Google Services revenue increased 11% to $96.3 billion. Google Search & other revenue rose 12% to $63.4 billion, with management saying year-over-year Search query growth reached its fastest pace in five years. YouTube advertising revenue increased to $11.2 billion from $10.3 billion.

Google Cloud was the standout performer, with revenue more than doubling to $30.7 billion from $15.2 billion. Growth was driven by enterprise AI infrastructure, AI solutions, core Google Cloud Platform services and TPU systems. Cloud operating income surged to $11.1 billion from $3.6 billion.

Alphabet’s operating income increased 30% to $40.6 billion, with operating margin improving to 31.8%. However, net income fell to $26.2 billion from $35.0 billion, while diluted EPS declined to $2.12 from $2.87, largely reflecting an $8.2 billion net other expense compared with $12.8 billion of other income a year earlier.

AI adoption continued to accelerate. Alphabet said its first-party model APIs are processing nearly 32 billion tokens per minute, more than four times the year-ago level, while the Gemini app has surpassed one billion users.

Overall, the quarter showed exceptionally strong momentum in Google Cloud and continued resilience in Search, with AI investment translating into faster revenue growth and sharply higher cloud profitability despite the year-over-year decline in reported net income.

Google Launches Workplace AI Agent That Acts Like Colleague

Meta’s Muse Could Be the Biggest Threat Google Has Faced in 20 Years

Meta’s Muse could challenge Google’s $63 billion Search business by replacing searches, clicks, and ads with AI-driven decisions and transactions.

(finance.yahoo.com)
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Accenture and Google Cloud Team With Volvo Cars on AI-Powered Automotive Software Platform

Accenture and Google Cloud said Volvo Cars has become the lead industry partner for Horizon, an open-source software development platform designed to help automakers build, test and deploy Android Automotive OS software faster.

Volvo Cars is migrating its global AAOS development environment to Horizon, which combines cloud-native development tools, virtual testing environments and AI-assisted workflows. The platform is intended to shorten development cycles and give engineering teams more time to focus on in-car digital experiences.

Accenture and Google Cloud said Horizon can deliver up to 9x faster software testing using virtual Android Automotive environments, reduce infotainment feature development costs by up to 40%, and cut build feedback times from as much as two hours to minutes. The platform also supports remote access to virtual and physical device farms and faster onboarding through virtual workbenches.

The companies said insights from the Volvo collaboration will help refine Horizon and expand its generative AI capabilities for other automakers and industrial manufacturers. Accenture, Google Cloud and Volvo are already working to extend the platform to additional organizations and markets.

The partnership highlights the growing shift toward software-defined vehicles, where faster development, virtual validation and AI-assisted engineering are becoming increasingly important competitive capabilities.
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NVIDIA, Google and Emerald AI Launch Alliance to Tackle AI Data Center Power Constraints

NVIDIA, Google and Emerald AI have launched the AI Energy Management Alliance, a new coalition aimed at making large AI data centers more flexible in how they consume electricity and accelerating their connection to power grids.

Power availability has become a major constraint on the expansion of U.S. AI infrastructure. The alliance is developing a framework that would allow AI data centers to adjust electricity consumption according to grid conditions by shifting computing workloads, using energy storage or paired generation, and reducing demand during periods of system stress.

The approach could allow utilities to connect large AI facilities more quickly while reducing the need for costly grid upgrades. AEMA plans to establish standardized performance requirements covering response times, power curtailment, emergency operations and data sharing between data centers and grid operators.

The initiative brings together AI companies, data center operators, power producers, utilities and grid operators. For NVIDIA and the broader AI industry, addressing electricity constraints is becoming increasingly important as rapidly expanding AI computing capacity requires substantially more power infrastructure.

European antitrust rulings reshape Google’s comparison shopping ecosystem | Noah Intelligence

New regulations and legal challenges are disrupting Google's dominance in comparison shopping services across Europe, prompting calls for increased fairness among merchants and rivals.A comparison shopping service, or...

(noah-news.com)

Regulators target transparency in digital ad auctions amid Google and Amazon cases | Noah Intelligence

Recent legal actions against Google and Amazon spotlight growing concerns over auction fairness and transparency in digital advertising, raising questions about platform control and trust.The latest legal scrutiny of...

(noah-news.com)
Alphabet (GOOGL) Stock Edges Higher After Morgan Stanley Raises Price Target

Alphabet (NASDAQ: GOOGL) shares traded modestly higher on Tuesday after Morgan Stanley raised its price target on the Google parent company, reinforcing confidence in its long-term growth prospects driven by artificial intelligence and digital advertising.

The brokerage maintained its Overweight rating while increasing its price target to $415 from $375, signaling continued optimism about Alphabet's ability to capitalize on AI-driven opportunities across its search, cloud, and software businesses.

# Morgan Stanley Sees More Upside

The higher price target reflects growing confidence that Alphabet will continue benefiting from expanding AI adoption while maintaining its leadership in digital advertising.

Analysts also remain constructive on the company's cloud business, where ongoing investment in generative AI services is expected to support revenue growth and margin expansion over the coming years.

# AI Remains a Key Growth Driver

Alphabet has accelerated the rollout of AI-powered products across Google Search, Google Cloud, and Workspace, while continuing to invest heavily in infrastructure to support growing enterprise and consumer demand.

The company's strong balance sheet and leadership in AI innovation continue to position it as one of the largest beneficiaries of the industry's long-term growth.

# Why GOOGL Stock Was Little Changed

Despite the higher price target, Alphabet shares posted only modest gains, suggesting much of the positive outlook may already be reflected in the stock's valuation.

Still, Morgan Stanley's decision to reaffirm its Overweight rating while lifting its valuation target reinforces Wall Street's confidence in Alphabet's long-term earnings potential and competitive position within the AI ecosystem.
Alphabet Falls 5% Despite Citi Reiterating Positive Rating

Alphabet (NASDAQ: GOOG) fell 5% even after Citigroup reiterated its Market Outperform rating, as investors reacted to broader concerns surrounding competition, valuation, and the evolving artificial intelligence landscape.

The decline came despite Citi maintaining a positive long-term view on the company. Alphabet remains one of the world's dominant digital advertising and cloud computing platforms, with growing exposure to artificial intelligence through products such as Gemini and its expanding AI infrastructure investments.

However, investor sentiment toward the stock has recently become more cautious as competition in AI-powered search intensifies. Market participants continue to evaluate how generative AI could reshape internet search and digital advertising, two of Alphabet's most important businesses.

Despite the sharp decline, analysts generally remain constructive on Alphabet's outlook. The company's leadership positions in search, cloud computing, digital advertising, and artificial intelligence continue to provide multiple growth drivers. Google Cloud has also emerged as a key beneficiary of growing enterprise AI adoption, helping diversify revenue beyond advertising.

Citigroup's reaffirmed Market Outperform rating suggests the firm believes the recent weakness does not alter Alphabet's long-term investment case. Nevertheless, the stock's decline highlights that investors remain sensitive to competitive developments and AI-related execution risks across the technology sector.
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NYSE:BN

Brookfield Rises 1% as Wealth Solutions Earnings Grow and Corporate Simplification Nears

Brookfield (NYSE: BN) shares rose about 1% after Brookfield Wealth Solutions reported higher third-quarter operating earnings, strong annuity originations and continued portfolio deployment into higher-yielding Brookfield strategies.

Brookfield Wealth Solutions generated $519 million of distributable operating earnings in the third quarter, up 22% from $427 million a year earlier. Net income increased to $863 million from $608 million, while total assets expanded to $203.9 billion from $152.8 billion.

The company originated $4 billion of annuity sales across retail and pension risk transfer channels and deployed more than $8 billion into Brookfield-originated investment strategies at an average target yield of 8%. Management also continued integrating and optimizing Just Group, including £1.3 billion of investment deployment into Brookfield strategies.

Liquidity remained substantial, with approximately $33 billion of cash and short-term liquid investments and another $42 billion of long-term liquid investments across the portfolio.

Brookfield Corporation separately reported third-quarter net income attributable to shareholders of $1.305 billion, up sharply from $219 million a year earlier. Distributable earnings before realizations increased to $1.496 billion from $1.333 billion, while distributable earnings rose to $1.718 billion from $1.487 billion.

The previously announced corporate simplification transaction involving Brookfield Wealth Solutions and Brookfield Corporation is expected to close on December 1, subject to closing conditions. Shares of Brookfield Corporation Ltd. are expected to begin trading under the BN ticker on December 3.

The roughly 1% gain appears to reflect continued growth in operating earnings, strong capital deployment and progress toward the corporate simplification transaction, which should further streamline Brookfield’s listed structure.
Brookfield (BN) Edges Higher After Q2 Earnings as Distributable Earnings Rise 15%

Brookfield Corporation (NYSE: BN) shares are up about 0.02% after the company reported solid second-quarter 2026 results, with earnings growth across its asset management and wealth solutions businesses.

Distributable earnings before realizations rose 15% year over year on a per-share basis to $1.4 billion, or $0.61 per share. Total distributable earnings reached $1.55 billion, or $0.66 per share, while net income attributable to Brookfield shareholders increased to $364 million from $272 million a year earlier.

## Record Fundraising Supports Growth

Asset Management was a key driver, with fee-related earnings rising 20% as fee-bearing capital increased 19% to $672 billion. Brookfield also raised a record $77 billion during the quarter, highlighting strong institutional demand for its investment strategies.

Wealth Solutions earnings increased 23%, supported by organic inflows, higher investment income and the contribution from the Just Group acquisition.

Brookfield ended the quarter with a record $210 billion of deployable capital, providing substantial capacity for new investments. The company also continued returning capital to shareholders, repurchasing about $580 million of BN shares year-to-date.

The modest 0.02% stock gain suggests investors viewed the report positively but largely in line with expectations. Strong fundraising, expanding fee-bearing capital and 15% per-share distributable earnings growth provide support for Brookfield’s longer-term earnings outlook.
Brookfield Corporation (NYSE: BN, TSX: BN) will host its first quarter 2026 conference call and webcast on Thursday, May 14, 2026 at 10:00am (ET).
Brookfield Corporation (NYSE: BN; TSX: BN) reported record 2025 distributable earnings before realizations of $5.4 billion, up 11% year over year, and raised its quarterly dividend by 17%.

For Q4 2025, distributable earnings before realizations were $1.5 billion ($0.63 per share), with total distributable earnings of $1.6 billion ($0.67 per share). Net income attributable to Brookfield shareholders was $743 million, or $0.30 per diluted share.

For full year 2025, total distributable earnings reached $6.0 billion ($2.54 per share), while net income attributable to shareholders was $1.3 billion, or $0.49 per diluted share. The company ended the year with a record $188 billion of deployable capital.

Asset Management generated $2.8 billion of distributable earnings, supported by $112 billion of fundraising and a 12% increase in fee-bearing capital to $603 billion. Wealth Solutions delivered $1.7 billion of distributable earnings, up 24%, with $20 billion in annuity sales. Operating Businesses contributed $1.6 billion, reflecting resilient cash flows across renewable power, infrastructure, private equity and real estate.

During 2025, Brookfield completed a record $91 billion of asset sales and deployed $126 billion of capital. The company repurchased over $1 billion of shares and returned $1.6 billion to shareholders through dividends and buybacks. The quarterly dividend was increased to $0.07 per share, payable March 31, 2026.

Globe Newswire
Brookfield Corporation (NYSE: BN, TSX: BN) will host its fourth quarter 2025 conference call and webcast on Thursday, February 12, 2026 at 10:00am (ET).
Brookfield Corporation to issue new preferred shares, redeem Series 44 shares

Brookfield Corporation (NYSE: BN, TSX: BN) announced it will issue C$200 million of Class A Preferred Shares, Series 54 at C$25.00 per share. The shares will pay a 5.65% annual fixed dividend until December 31, 2030, after which the rate resets every five years to the greater of the 5-year Government of Canada bond yield plus 2.80% or 5.65%.

The underwriting syndicate is led by Scotiabank, BMO, CIBC, National Bank, RBC, and TD. An additional 2 million shares may be issued if the underwriters’ option is exercised, bringing the deal up to C$250 million.

Brookfield plans to use the proceeds to redeem at least C$200 million of its Cumulative Class A Preferred Shares, Series 44 (TSX: BN*PF*H) on December 31, 2025, at C$25.00 per share. If the option is exercised in full, all Series 44 shares will be redeemed. Holders of Series 44 shares as of December 15, 2025 will still receive the previously declared quarterly dividend of C$0.3125 on December 31, 2025.

The offering is expected to close on or about November 26, 2025.
Brookfield Corporation posts strong Q3 results on record asset-management earnings and expanding wealth solutions platform

Brookfield Corporation reported strong third-quarter 2025 results, driven by record fee-related earnings in its asset management unit, continued organic growth in wealth solutions, and resilient cash flows across operating businesses.

Distributable earnings before realizations rose to 1.33 billion dollars (0.56 dollars per share), up 6 percent year-over-year, while total distributable earnings reached 1.49 billion dollars (0.63 dollars per share). Over the last twelve months, distributable earnings before realizations rose 18 percent to 5.4 billion dollars.

Asset management delivered 687 million dollars of distributable earnings, supported by a 17 percent rise in fee-related earnings to a record 754 million dollars as fee-bearing capital grew to 581 billion dollars. Fundraising totaled 30 billion dollars in the quarter, the strongest level in three years. The company also agreed to acquire the remaining 26 percent of Oaktree, expanding its global credit platform.

Wealth solutions generated 420 million dollars of distributable earnings, up 15 percent, with annuity originations reaching 5 billion dollars and insurance assets rising to 139 billion dollars. Brookfield received shareholder approval to acquire U.K.-based Just Group, a transaction expected to lift insurance assets to roughly 180 billion dollars.

Operating businesses contributed 366 million dollars of distributable earnings. Real estate fundamentals remained strong with occupancy of 95–96 percent across core portfolios. Monetizations totaled 154 million dollars for the quarter and 642 million dollars over the last twelve months, supported by 75 billion dollars of asset sales completed year-to-date.

Brookfield ended the quarter with a record 178 billion dollars of deployable capital, including 74 billion dollars in cash, financial assets and undrawn credit lines and 104 billion dollars of uncalled private fund commitments. Capital markets activity remains robust, with 140 billion dollars of financings executed year-to-date.

The company repurchased more than 950 million dollars of Class A shares this year at an average price of 36 dollars, well below management’s estimated intrinsic value of 69 dollars. The board declared a quarterly dividend of 0.06 dollars per share, payable December 31, 2025.
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NYSE:PFE

Pfizer Secures Up to $1.5 Billion From Blackstone to Fund Monthly GLP-1 Obesity Program

Pfizer (NYSE: PFE) and Blackstone Life Sciences announced a strategic co-funding agreement under which Blackstone-managed funds will provide up to $1.5 billion through 2028 to support development of berobenatide, Pfizer’s investigational monthly GLP-1 receptor agonist for chronic weight management and obesity-related conditions.

Under the agreement, Blackstone will fund a portion of berobenatide’s development costs in exchange for potential milestone-based payments tied to U.S. regulatory approval of monthly injectable berobenatide monotherapy and achievement of certain commercial sales milestones.

Pfizer retains full ownership, operational control and decision-making authority over the program. Blackstone will not receive rights to the drug itself, limiting the arrangement primarily to development financing and milestone economics.

Berobenatide, also known as PF’3944, is being positioned as a potential first-in-class monthly GLP-1 receptor agonist. Pfizer plans more than 20 obesity and related-comorbidity trials in 2026, including 10 ongoing or planned Phase 3 studies evaluating berobenatide in chronic weight management as well as conditions such as knee osteoarthritis and obstructive sleep apnea.

The company is also studying berobenatide in combination with other nutrient-stimulated hormone peptides, including amylin analogs, as it builds a broader cardiometabolic pipeline.

The financing agreement allows Pfizer to advance an expensive late-stage obesity development program while preserving capital for other pipeline priorities. For Blackstone, the transaction provides exposure to a potentially large commercial opportunity without acquiring ownership of the underlying drug asset.

The deal also highlights the growing role of external capital in funding large pharmaceutical development programs, particularly in obesity, where clinical programs are becoming increasingly broad and costly as companies compete for share in the rapidly expanding GLP-1 market.
Pfizer Slips 0.8% Despite Strong Q3 Execution and Raised 2026 Guidance

Pfizer (NYSE: PFE) shares fell about 0.75% despite reporting solid third-quarter 2026 results and raising both its full-year revenue and adjusted EPS guidance.

Third-quarter revenue was $16.6 billion, roughly flat year over year on an operational basis. Excluding Comirnaty and Paxlovid, revenue increased 7% operationally, while launched and acquired products grew 32%, highlighting stronger momentum across Pfizer’s newer portfolio.

Reported net income fell 8% to $3.24 billion, while reported EPS declined to $0.56 from $0.62. Adjusted EPS was unchanged at $0.87, and adjusted income increased slightly to $4.99 billion.

Pfizer raised its 2026 revenue guidance to $62.0 billion-$64.0 billion from $60.5 billion-$62.5 billion, increasing the midpoint by $1.5 billion. The company also raised and narrowed adjusted EPS guidance to $2.95-$3.05 from $2.80-$3.00.

The outlook includes a $650 million acquired in-process R&D charge related to the Innovent Biologics collaboration, which reduced earnings by roughly $0.10 per share. Pfizer also increased its R&D expense outlook to $10.8 billion-$11.8 billion.

The 0.75% decline appears to reflect a market reaction that is more cautious than the headline results suggest. While guidance was raised and non-COVID products continued to grow, total quarterly revenue remained essentially flat and adjusted EPS showed no year-over-year growth. Investors may also be weighing the higher R&D spending required to support Pfizer’s late-stage pipeline against the improving commercial momentum.
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Pfizer Declares $0.43 Fourth-Quarter Dividend, Extending Long-Running Payout Streak

Pfizer (NYSE: PFE) said its board of directors approved a fourth-quarter 2026 cash dividend of $0.43 per share.

The dividend will be payable on December 7, 2026, to shareholders of record at the close of business on November 6.

Pfizer said maintaining — and over the longer term growing — its dividend remains part of the company’s capital allocation strategy.

The payment will mark Pfizer’s 352nd consecutive quarterly dividend, extending the pharmaceutical company’s decades-long record of regular shareholder distributions.
Pfizer Reports Positive Phase 3 LITFULO Results in Nonsegmental Vitiligo

Pfizer reported positive Phase 3 results for LITFULO, or ritlecitinib, showing significant improvements in facial and total-body repigmentation in patients with nonsegmental vitiligo.

Across the TRANQUILLO 2 and TRANQUILLO trials, LITFULO significantly outperformed placebo at Week 52. In TRANQUILLO 2, 21.86% of patients receiving 100 mg LITFULO achieved at least 75% improvement in facial vitiligo compared with 2.40% on placebo. In TRANQUILLO, 12.47% of patients receiving 50 mg achieved the same endpoint versus 2.48% with placebo.

For total-body repigmentation, 13.02% of patients in TRANQUILLO 2 and 8.98% in TRANQUILLO achieved at least 50% improvement, compared with 2.40% and 1.98% on placebo, respectively. Improvements were evident from Week 24 and continued through Week 52.

The safety profile remained consistent with LITFULO’s established profile in alopecia areata, with no new safety signals identified.

The two Phase 3 studies enrolled a combined 2,174 patients, making the program the largest late-stage evaluation to date of an oral systemic therapy for nonsegmental vitiligo. Pfizer plans to submit the data to regulators including the FDA and EMA.

The results could broaden LITFULO’s commercial opportunity beyond alopecia areata by positioning the once-daily oral JAK3 and TEC kinase inhibitor as a potential systemic treatment for vitiligo.
Pfizer’s Tilrekimig Shows Strong Skin Clearance in Phase 2 Atopic Dermatitis Study

Pfizer reported positive Phase 2 results for tilrekimig, an investigational trispecific antibody being developed for moderate-to-severe atopic dermatitis. The study met its primary endpoint, with all evaluated doses producing statistically significant improvements in EASI-75 skin-clearance rates versus placebo at Week 16.

In Stage 1, 62.5% of patients receiving tilrekimig 450 mg every two weeks achieved EASI-75, compared with 19.9% for placebo. In Stage 2, EASI-75 rates were 58.5% for the 400 mg monthly dose, 61.0% for 200 mg and 47.8% for 50 mg, versus 9.1% for placebo.

Tilrekimig is designed to simultaneously block IL-4, IL-13 and TSLP, targeting multiple pathways involved in type 2 inflammation. Pfizer is also developing the drug with an extended half-life intended to support monthly dosing.

Secondary and exploratory endpoints were also encouraging. Around 26% to 30% of treated patients achieved clear or almost-clear skin depending on dose and study stage, while itch reduction was meaningfully greater than with placebo.

Pfizer said the treatment was generally well tolerated, with no dose-dependent safety signals and no treatment-related serious adverse events reported in the first two stages.

The company has already started Phase 3 trials in atopic dermatitis and asthma and is advancing a Phase 2b/3 study in COPD, positioning tilrekimig as a potentially important next-generation asset in Pfizer’s inflammation and immunology pipeline.
Pfizer and BioNTech Win FDA Approval for Updated XFG COVID-19 Vaccine

Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) received U.S. FDA approval for their updated 2026–2027 COMIRNATY COVID-19 vaccine targeting the XFG variant.

The updated vaccine is approved for adults aged 65 and older and for people aged 5 to 64 who have at least one underlying condition that increases their risk of severe COVID-19. The XFG formulation follows FDA guidance aimed at more closely matching currently circulating variants.

According to the companies, supporting data showed strong immune responses against several circulating SARS-CoV-2 variants, including XFG, XFG.1.1, NB.1.8.1, PQ.17 and PQ.2.8.1. Pfizer and BioNTech said shipments will begin immediately, with the vaccine expected to reach U.S. pharmacies, hospitals and clinics within days.

The approval is commercially positive for both companies because it keeps their COVID-19 vaccine franchise positioned for the upcoming U.S. vaccination season. However, the financial impact will ultimately depend on vaccination rates and demand for updated COVID-19 shots.
Pfizer and Valneva Lyme Disease Vaccine Application Accepted for EMA Review

Pfizer (NYSE: PFE) and Valneva (NASDAQ: VALN) announced Friday that the European Medicines Agency has validated the Marketing Authorization Application for their experimental Lyme disease vaccine, marking a significant regulatory milestone for the program.

The EMA validation means the agency will now begin formally assessing PF-07307405, a six-valent vaccine designed to prevent Lyme disease in people aged five years and older. The application is supported by results from the Phase 3 VALOR trial.

## Phase 3 Trial Shows More Than 70% Efficacy

In the VALOR trial, the vaccine demonstrated efficacy of more than 70% in preventing Lyme disease and was generally well tolerated, with no safety concerns identified. The randomized study included 9,437 participants aged five and older across the U.S., Canada and Europe.

PF-07307405 targets six variants of outer surface protein A, or OspA, found on the Borrelia bacteria responsible for Lyme disease. The approach is designed to generate antibodies that prevent the bacteria from being transmitted from an infected tick to a vaccinated person.

Potential First Lyme Disease Vaccine Currently Available to Humans

The regulatory milestone could be commercially significant because there are currently no approved human vaccines against Lyme disease. Pfizer and Valneva's candidate is the most advanced Lyme disease vaccine currently in clinical development, with two pivotal Phase 3 studies completed. ([Pfizer][1])

The potential market is substantial. Pfizer said more than 200 million people live in Lyme disease risk areas in Europe, while approximately 132,000 cases are reported annually across European countries with surveillance systems.

Pfizer and Valneva have jointly developed the vaccine under a collaboration established in 2020. If regulatory approval is ultimately secured, Pfizer will be responsible for manufacturing and commercializing the product.

EMA validation does not constitute approval, but it confirms that the application is sufficiently complete to enter the formal regulatory review process. The next major catalyst for the program will therefore be the outcome of the EMA assessment.
Pfizer Stock Slips 0.54% Despite Higher Revenue Guidance and Strong Product Growth

Pfizer (NYSE: PFE) shares slipped 0.54% on Tuesday despite reporting solid second-quarter results, raising the midpoint of its full-year revenue guidance and highlighting continued momentum from its newer product portfolio and late-stage pipeline.

Second-quarter revenue increased 3% year over year to $15.0 billion, while operational revenue growth reached 1%. Excluding COVID-19 products Comirnaty and Paxlovid, operational revenue grew 5%, supported by strong performance from recently launched and acquired products, which posted 18% operational growth. Pfizer reported a GAAP loss per share of $0.04 and adjusted EPS of $0.77, with reported results impacted by $4.3 billion in non-cash intangible asset impairment charges.

Growth Portfolio Continues to Offset COVID Declines

Pfizer's underlying business continued to strengthen as growth from key products more than offset declining COVID-related sales.

Eliquis revenue benefited from strong global demand and favorable pricing, while Padcev, the Vyndaqel family and Lorbrena all delivered strong growth. Meanwhile, Paxlovid revenue declined 95% and Comirnaty sales fell 34% as pandemic-related demand continued to normalize.

The company also emphasized continued progress in its obesity and oncology businesses, alongside several expected pivotal clinical readouts over the next 12 months.

Guidance Raised While Cost Savings Expand

Reflecting stronger-than-expected demand for non-COVID products, Pfizer raised the midpoint of its 2026 revenue guidance by $500 million to a range of $60.5 billion to $62.5 billion.

The company reaffirmed its adjusted EPS guidance of $2.80 to $3.00 despite absorbing an expected $0.10 per-share impact from its Innovent Biologics transaction. Pfizer also announced an additional $2.5 billion in anticipated productivity savings to be realized between 2027 and 2029 as part of its ongoing efficiency initiatives.

What to Watch

Despite the modest decline in the stock, investors were encouraged by Pfizer's improving underlying business performance and higher revenue outlook. Going forward, markets will closely monitor continued growth from its non-COVID portfolio, execution of its productivity initiatives, progress in obesity and oncology programs, and upcoming late-stage clinical trial results that could support the company's next phase of growth.
Pfizer (PFE) Stock Rises After FDA Expands PADCEV Plus Keytruda Approval for Muscle-Invasive Bladder Cancer

Pfizer (NYSE: PFE) shares gained about 1.1% after the U.S. Food and Drug Administration approved PADCEV in combination with Keytruda as neoadjuvant and adjuvant treatment for adults with muscle-invasive bladder cancer (MIBC), regardless of cisplatin eligibility.

The expanded approval marks the first platinum-free treatment regimen approved for MIBC across all eligible patient groups, potentially establishing a new standard of care in earlier-stage bladder cancer.

The decision was supported by results from the Phase 3 EV-304 (KEYNOTE-B15) trial, in which PADCEV plus Keytruda demonstrated significant improvements over standard chemotherapy. The combination reduced the risk of tumor recurrence, progression, or death by 47%, lowered the risk of death by 35%, and achieved a pathological complete response rate of 55.8%, compared with 32.5% for standard chemotherapy.

The approval further expands the commercial opportunity for PADCEV, which Pfizer co-develops with Astellas, following its success in advanced bladder cancer. Investors also view the label expansion as strengthening Pfizer’s oncology portfolio by extending the therapy into an earlier-stage, potentially curative treatment setting.

Key factors supporting the stock include:

* The FDA approved PADCEV plus Keytruda for muscle-invasive bladder cancer regardless of cisplatin eligibility.
* The regimen became the first platinum-free treatment approved for this patient population.
* Phase 3 data showed a 47% reduction in the risk of recurrence, progression, or death and a 35% reduction in mortality versus standard chemotherapy.
* The expanded indication broadens PADCEV’s commercial potential and reinforces Pfizer’s long-term oncology growth strategy.

The regulatory approval improved investor sentiment, helping Pfizer shares move higher during the trading session.
Pfizer Holds Steady: Solid Q1 Beat, Stock Barely Moves

Tuesday, May 5, 2026

In a sea of earnings-day volatility — Shopify down 7%, Eaton down 6.5% — Pfizer's barely-a-blip 0.27% decline today is almost a compliment. The pharmaceutical giant posted a clean Q1 2026 beat and reaffirmed full-year guidance, delivering exactly what a rebuilding Pfizer needed: no surprises.

The Numbers

Q1 revenues came in at $14.5 billion, up 5% year-over-year (2% operationally), clearing analyst expectations. Reported EPS was $0.47, while adjusted EPS of $0.75 comfortably topped the consensus. Pfizer reaffirmed its full-year 2026 guidance of $59.5–$62.5 billion in revenue and adjusted EPS of $2.80–$3.00 — unchanged from prior guidance.

The headline growth rate of 5% looks modest, but the underlying picture is considerably stronger once COVID-era products are stripped out. Excluding Comirnaty and Paxlovid — both in steep structural decline — revenues grew 7% operationally. More tellingly, revenues from Pfizer's launched and acquired products grew 22% operationally, underscoring that the portfolio transition away from COVID dependency is gaining real traction.

What's Working

The non-COVID portfolio is firing on multiple cylinders. Padcev (bladder cancer) rose 39% operationally on expanding market share. Nurtec (migraine) jumped 41%, driven by strong U.S. demand. Lorbrena (lung cancer) gained 32% on growing first-line patient share. Oncology biosimilars surged 52%, partly on one-time tailwinds but also reflecting genuine supply recovery. Eliquis (blood thinner) grew 8% globally despite some international pricing pressure. Abrysvo (RSV vaccine) also posted 31% growth internationally.

On the cost side, SI&A expenses fell 4% operationally, reflecting tighter, more targeted marketing spend — a sign of the operational discipline CFO David Denton has emphasized. R&D spending rose 12%, directed primarily at oncology and obesity pipelines, two areas CEO Albert Bourla singled out as where Pfizer expects to lead.

What's Dragging

Comirnaty (COVID vaccine) fell 59% operationally and Paxlovid dropped 63%, as COVID infections declined globally and government procurement normalized. Cost of sales as a percentage of revenue climbed to 24.6% from 20.7% a year ago, driven partly by the non-recurrence of a one-time royalty estimate adjustment in 2025 and FX headwinds. Adjusted EPS of $0.75 was also down 18% from $0.92 in Q1 2025, a reminder that the earnings base built during the COVID windfall years is still unwinding.

No share repurchases are planned for 2026, as Pfizer continues to de-lever its balance sheet — a prudent but shareholder-unfriendly near-term posture.

The Takeaway

Pfizer's flat reaction is the right one. This is a company mid-transition: COVID revenues fading, a new growth engine in oncology and obesity building, and pipeline momentum — approximately 20 key pivotal studies on track to start in 2026 — beginning to show up in the numbers. Today's print doesn't resolve Pfizer's long-term story, but it doesn't complicate it either. For now, steady is good enough.
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NASDAQ:DGII

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Digi International Falls 15.6% After Hours as Fiscal 2027 Outlook Disappoints Despite Record Q4

Digi International (NASDAQ: DGII) shares fell about 15.6% in after-hours trading despite record fourth-quarter revenue and strong earnings growth, as investors appeared to focus on a softer near-term outlook.

Fourth-quarter revenue increased 25% year over year to a record $143 million. Net income rose 50% to $15 million, while adjusted net income increased 53% to $30 million. Adjusted EPS climbed 47% to $0.78 and adjusted EBITDA rose 43% to $42 million.

Annualized recurring revenue reached a record $197 million, up 30%. For the full fiscal year, revenue increased 24% to $535 million, adjusted EBITDA rose 37% to $148 million and adjusted EPS increased 38% to $2.70.

Both operating segments delivered strong growth. IoT Products & Services Q4 revenue increased 28% to $105 million, while IoT Solutions revenue rose 20% to $38 million. Operating margins expanded in both businesses.

For fiscal 2027, Digi expects revenue growth of 10%-15%, ARR growth of at least 15% and adjusted EBITDA growth of 12.5%-17.5%. However, first-quarter revenue is projected at $140-$144 million, roughly flat to slightly lower sequentially, while adjusted EPS is expected at $0.71-$0.75 versus $0.78 in Q4.

Digi also plans to acquire Disruptive Technologies for $130 million in cash, funded through its revolving credit facility, subject to regulatory approval.

The 15.6% after-hours decline appears to reflect expectations for slower growth and sequentially lower earnings entering fiscal 2027, rather than weakness in the reported quarter, which delivered record revenue, ARR and strong margin expansion.