About
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Last price (USDT)
491.27K
24h total (USDT)
1.05M
Total vol (USDT)
2025-01-15 15:00:00 ~ 2025-01-22 09:30:00
Trading time (UTC+0)
2025-01-22 11:00:00 ~ 2025-01-22 23:00:00
Delivery time (UTC+0)
Total supply1.00B
Resources
Introduction
Jambo is building a global on-chain mobile network, powered by the JamboPhone — a crypto-native mobile device starting at just $99. Jambo has onboarded millions on-chain, particularly in emerging markets, through earn opportunities, its dApp store, a multi-chain wallet, and more. Jambo’s hardware network, with 700,000+ mobile nodes across 120+ countries, enables the platform to launch new products that achieve instant decentralization and network effects. With this distributed hardware infrastructure, the next phase of Jambo encompasses next-generation DePIN use cases, including satellite connectivity, P2P networking, and more. At the heart of the Jambo economy is the Jambo Token ($J), a utility token that powers rewards, discounts, and payouts.
Phoenix Manufacturing’s Approach to Production Orders: Safeguarding Profit Margins Amid Fluctuating Silver Markets
Silver Market Dynamics: Navigating a Volatile Cycle Silver producers operate within a highly unpredictable macro environment. Early 2026 saw silver prices soar, surpassing the significant $100 mark for the first time in January, following an extraordinary 130% increase throughout 2025. Despite this surge, J.P. Morgan Global Research anticipates silver will average $81 per ounce in 2026—over twice the previous year's average—indicating continued price strength but also substantial fluctuation. Producers now face the challenge of managing operations amid wide price swings. Several factors contribute to this volatility. Central among them are real interest rates and the strength of the U.S. dollar. Silver experienced a sharp 27% drop in late January after a new Federal Reserve chair was nominated, which boosted confidence in the dollar. This underscores silver's sensitivity to monetary policy changes. Meanwhile, limited physical supply in London and ongoing geopolitical tensions help stabilize prices, reinforcing silver's role as a hedge. The market remains tight, with the Silver Institute projecting a supply deficit for the sixth year in a row in 2026. For jewelry manufacturers like Phoenix, these conditions create both opportunities and challenges. Elevated silver prices can boost revenue, but they also increase production costs and introduce uncertainty in demand. Jewelry consumption is expected to decrease by more than 9% in 2026, marking a second consecutive year of decline, as high prices discourage buyers—especially in major markets such as India. Ultimately, while the macro cycle supports high prices, it also brings heightened volatility and structural obstacles for jewelry producers. Adapting Strategy: Phoenix Manufacturing's Approach In response to these turbulent market conditions, Phoenix Manufacturing is evolving from a straightforward commodity seller to a value-focused business. The company leverages its innovative production order system not only to drive sales but also as a strategic tool to manage the challenges posed by elevated silver prices and to secure better margins. Cost management is a primary focus. By offering production orders at Phoenix can lock in material costs ahead of further increases, providing a safeguard against ongoing price pressures. This approach also gives Phoenix full control over inventory, allowing it to avoid the unpredictability of spot market purchases. The company’s ability to customize every aspect of its jewelry—from gemstones and plating to sizing and packaging—transforms each order into a unique product, supporting premium pricing and differentiation in a crowded marketplace. This emphasis on customization aligns with shifting consumer preferences. Buyers are increasingly seeking affordable, long-lasting materials that combine intrinsic value with emotional significance. Phoenix targets product categories that meet this new demand for "practical luxury," likely prioritizing stackable rings and mini hoops, which encourage repeat purchases and generate high-margin add-on sales. These styles appeal to a broad audience and are well-suited for curated, social media-driven trends, positioning Phoenix for success in 2026. In summary, Phoenix is strategically repositioning itself. By securing costs, focusing on high-margin, trend-responsive products, and offering deep customization, the company aims to shield itself from market volatility and move beyond commodity sales to deliver personalized, curated experiences. Balancing Risks: Operational and Market Challenges Operating in today’s macro cycle forces Phoenix Manufacturing to make difficult trade-offs. The shift toward production orders and customization is a direct response to volatile silver prices and rising costs, but it also makes execution crucial. Margin pressure is the most immediate challenge. Although Phoenix can secure material costs through its production order system, broader market forces remain unpredictable. As noted by Daniel Tramer of 925SilverJewelry, sharp increases in silver prices can disrupt supply chains, impacting both production and design. Even with forward pricing, there’s a risk that spot prices may spike between order placement and delivery, squeezing promised margins. This creates ongoing tension between competitive pricing and profitability. The effectiveness of the production order model is pivotal. Its value depends on Phoenix’s ability to tightly control costs and source efficiently. While the system offers complete inventory control and deep customization, it also demands operational excellence. Any inefficiency in production, sourcing, or logistics can erode the margins that forward pricing is intended to protect. Phoenix’s success now relies on internal execution as much as external market conditions. Consumer demand resilience is another uncertain factor. Phoenix’s strategy focuses on affordable, durable materials to appeal to financially cautious buyers. While this is a strong tailwind, it can also become a limitation if economic pressures intensify. Consumers may prioritize essential purchases over silver jewelry, especially if prices remain high. The projected decline in jewelry demand for the second year in 2026 highlights this vulnerability. Phoenix is counting on its differentiated products and value proposition to protect it, but it remains exposed to broader economic downturns that could reduce discretionary spending. Ultimately, Phoenix is treading a narrow path. Its tactical strategies aim to reduce cyclical risks but introduce new dependencies on operational performance and consumer demand. The company’s ability to succeed depends on flawless execution and maintaining appeal in a market where the definition of "affordable luxury" is constantly evolving. Looking Ahead: Key Drivers and Areas of Focus Phoenix Manufacturing’s future success depends on navigating a complex mix of macroeconomic factors and operational challenges. The company’s ability to prosper in the current commodity cycle will hinge on several critical catalysts and areas to monitor. Silver Supply Deficit: The ongoing supply shortage, expected to continue for a sixth year in 2026, is supported by limited physical supply in London and geopolitical instability. This structural tightness underpins price levels and is vital for Phoenix’s revenue outlook. Interest Rates and Dollar Strength: The direction of real interest rates and the U.S. dollar will determine silver’s volatility and long-term price ceiling. If real rates stabilize or decrease, silver’s appeal as a hedge could strengthen, benefiting Phoenix. Conversely, a stronger dollar or hawkish monetary policy could pressure prices and margins. Consumer Spending Trends: Phoenix must closely track changes in discretionary spending on jewelry as economic conditions evolve. The company is betting on a shift toward affordable, durable materials, but this tailwind is fragile. A further economic slowdown could lead consumers to cut back even on silver jewelry, as reflected in forecasts for declining demand. Operational Execution: The effectiveness of Phoenix’s production order model is crucial. Its promise of competitive pricing and inventory control must translate into strong margins and efficient operations. Key indicators include gross and operating margins, inventory turnover, and the ability to fulfill custom orders at scale without delays or quality issues. In conclusion, Phoenix is not simply a silver producer—it is actively managing the cycles of the market. Its future depends on monitoring macroeconomic drivers, maintaining consumer demand, and executing operational strategies with agility. Success will require Phoenix to leverage its production model to benefit from a stable price floor while protecting itself from volatility and demand risks inherent in the broader cycle.
USA Rare Earth Expands Leadership Team Following Landmark Agreement with U.S. Government
J.B. Lowe Vice President, Head of Investor Relations Valerie Ford Jacob Chief Legal Officer Gregory Bowman Chief Global Policy Officer & Head of External Affairs STILLWATER, Okla., March 09, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USAR” or the “Company”) today announced the appointment of three senior executives: Valerie Ford Jacob as Chief Legal Officer, Gregory Bowman as Chief Global Policy Officer and Head of External Relations, and J.B. Lowe as Vice President, Head of Investor Relations. Together, the executives will deepen engagement with policymakers, investors, and other stakeholders and support the Company’s efforts as it builds a global champion in critical minerals and technology. USA Rare Earth’s recent Letter of Intent with the U.S. government and associated $1.5 billion PIPE transaction are expected to accelerate the Company’s strategy by enabling access to more than $3 billion in public and private capital. This funding will support USAR as it develops the leading global, non-China rare earth value chain, from mine to magnet and beyond. Under the Company’s proposed collaboration with the U.S. government, the Department of Commerce’s CHIPS Program would provide up to $1.6 billion in long-term, milestone-based funding to support expansion of USAR’s mine-to-magnet platform. In parallel, the U.S. Department of Energy’s National Energy Technology Laboratory has signed a Letter of Intent to work with USAR on advancing heavy rare earth separation technologies. These government collaborations are structured to align capital deployment with the phased addition of domestic production capacity. Leadership Appointments Valerie Ford Jacob – Chief Legal Officer Jacob will oversee all legal, regulatory, compliance, and corporate policy matters. She joins the Company from Freshfields US LLP, where she served as partner and co-head of both the Financial Institutions Group and Global Capital Markets over a period of 10 years. Previously, she was Chairperson and Senior Partner at Fried, Frank, Harris, Shriver & Jacobson LLP. Jacob holds a B.S. from Boston University and a J.D. from Cornell Law School. She is also a member of The Committee of 200 (C200), an invitation-only organization of leading women executives. She has been consistently recognized as a leading lawyer by numerous independent organizations. Gregory Bowman – Chief Global Policy Officer & Head of External Relations Bowman will lead public policy, corporate affairs, government relations, and strategic communications. He brings decades of experience across national security policy, legislation, global strategy, and complex infrastructure programs. Most recently, he served in senior leadership roles at Siemens Government Technologies, including Chief Corporate Strategy Officer and Senior Vice President, National Security Solutions. Before Siemens, Bowman spent more than 25 years in senior leadership and legal roles in the U.S. Army. He holds a J.D. from the University of Virginia School of Law, a master’s degree from the U.S. Army Command and General Staff College, and an LL.M. from the Judge Advocate General’s Legal Center and School. He previously served on the U.S. Army Science Board and the U.S. Department of Defense Business Board, and currently serves on the Founding Council of PRISM, the Strategic Council of the Silverado Policy Accelerator, and the Board of Directors of Hope for the Warriors. J.B. Lowe – Vice President, Head of Investor Relations Lowe will lead strategic engagement with the financial community and serve as the primary liaison between USAR’s leadership, analysts, and global shareholders. He brings more than 15 years of capital markets experience on both the buy- and sell-side. Most recently, he served as Head of Investor Relations at SolarEdge Technologies, Inc. Prior to that, he was an equity research analyst at Citi, Bank of America Merrill Lynch, and TD Cowen, covering the oil and gas and cleantech sectors. Lowe holds a B.A. in political science from Duke University. Executive Commentary “As USA Rare Earth enters its next phase of growth, Valerie, Greg, and J.B. bring critical expertise to our leadership team,” said Barbara Humpton, Chief Executive Officer of USA Rare Earth. “Valerie is a recognized leader in capital markets, mergers and acquisitions, and corporate governance. Greg strengthens our ability to engage at the highest levels of government when domestic industrial capacity is a national priority. And J.B.’s extensive capital markets experience will help us more effectively communicate our progress as we build the leading global mine-to-magnet platform.” “I am honored to join USA Rare Earth and excited for the opportunity to partner with the management team and board to help deliver on the Company’s growth strategy,” said Jacob. “USAR is building the world’s leading globally integrated, non-China critical mineral technology platform, which represents a unique competitive advantage for the United States and our allies, and I’m eager to support the USA Rare Earth team in delivering on its strategies.” “I look forward to driving engagement with our partners and global policymakers, as I help the Company address one of the most consequential challenges facing the United States and its allies,” said Bowman. “Establishing a secure capability for rare earth materials and critical technology is essential to our economic resilience and national security.” “The opportunity for USAR to establish a resilient rare earth value chain is highly compelling,” added Lowe. “I am thrilled to join the team and advance our strategic dialogue through transparent communication with the investment community.” About USA Rare Earth USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet supply chain across the United States, United Kingdom, and Europe. Through its ownership of Less Common Metals Ltd. (LCM) and development of magnet manufacturing capacity in Stillwater, Oklahoma, USAR operates across the value chain—from heavy rare earth processing to metal-making, alloy production, and neodymium magnet manufacturing. By combining domestic feedstock from the Round Top deposit with advanced processing technologies, recycling capabilities, and an expanding European footprint, USAR is establishing a secure, sustainable, Western-aligned supply of materials essential to defense, electrification, robotics, energy, and advanced manufacturing. Forward-Looking Statements Certain matters discussed in this press release are or contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements, which involve risks and uncertainties, may include statements relating to the proposed transaction involving USAR and TMRC and its expected benefits, including the expected timing and likelihood of completion of the proposed transaction; statements relating to the expected U.S. Government partnership and its expected benefits, including the anticipated terms of the expected U.S. Government partnership and anticipated timing of closing and funding; the PIPE and its expected benefits; USAR’s investment plans, including the development of the Round Top deposit, development and expansion of processing and separation facilities, development and expansion of metal-making and strip-casting facilities, and development and expansion of the magnet manufacturing facility, including the timing, cost, production capacities, and estimated outputs of each facility; and projected operating results and performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as "anticipate", "believe", "can", "continue", "could", "estimate", "expect", "forecast", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "seek", "should", "strive", "target", "will", "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include, but are not limited to: (1) an event, change, failure to satisfy a closing condition, or other circumstance could give rise to the termination of the proposed transaction with TMRC or the expected U.S. Government partnership; (2) the benefits from the proposed transaction with TMRC or the expected U.S. Government partnership may not be fully realized or may take longer to realize than expected; (3) any announcement relating to the proposed transaction with TMRC or the expected U.S. Government partnership could have an adverse effect on the market price of USAR’s common stock; (4) litigation related to the proposed transaction with TMRC or the expected U.S. Government partnership; (5) the diversion of management time from ongoing business operations and opportunities as a result of the proposed transaction with TMRC or the expected U.S. Government partnership; (6) adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction with TMRC or the expected U.S. Government partnership; (7) USAR’s expected partnership with the U.S. Government may not be completed on the expected terms, or at all; (8) USAR may not be able to execute its business plan, including development of the Round Top deposit, its manufacturing facilities and its other projects; (9) risks related to the timing and achievement of the expected business milestones, including those of USAR’s expected U.S. Government partnership, including with respect to the development, commercialization, commissioning and expansion of the Round Top deposit, processing and separation facilities, metal-making and strip-casting facilities, and magnet manufacturing facilities; (10) the expected partnership with the U.S. Government, which will be funded in phases over time subject to USAR achieving milestones and other uncertainties, may ultimately result in less proceeds to USAR than anticipated; (11) USAR’s ability to obtain additional or replacement financing, as needed; (12) the significant long-term and inherently risky investments that USAR is making in mining and manufacturing facilities may not realize a favorable return; (13) TMRC or other businesses that USAR has acquired or may acquire may not be integrated successfully, or that the integration may be more costly or difficult than expected; (14) the benefits from any of the transactions that USAR has completed or is pursuing may not be fully realized or may take longer to realize than expected; (15) USAR’s ability to build and/or maintain relationships with customers and suppliers; (16) USAR’s ability to grow and manage growth properly; (17) USAR’s ability to attract and retain management and key employees; (18) competition in the feedstock, metal making and magnet manufacturing industries; (19) the risk that the Round Top Deposit might not be able to be commercially mined and the ongoing exploration programs may not result in the development of profitable commercial mining operations; (20) the uncertainty in any mineral estimates, uncertainty in any geological, metallurgical, and geotechnical studies and opinions; (21) the costs of production, capital expenditures and requirements for additional capital, including the need to raise additional capital to implement USAR’s strategic plan and access the financing from the expected U.S. Government partnership; (22) the timing of future cash flow provided by operating activities, if any; and (23) substantial doubt regarding USAR’s ability to continue as a going concern for the twelve months following the issuance of its Condensed Consolidated Financial Statements for the quarter ended September 30, 2025. Detailed information regarding factors that may cause actual results to differ materially has been and will be included in USAR’s filings with the SEC, including its most recent Annual Report on Form 10-K filed with the SEC, its latest Quarterly Reports on Form 10-Q filed with the SEC, and the Current Report on Form 8-K that USAR filed with the SEC on January 26, 2026. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements speak only as of their date, and USAR does not undertake any obligation to update any forward-looking statements to reflect events or circumstances occurring after their date or to reflect the occurrence of unanticipated events.
Analyst: The current bitcoin rally is driven by position resetting and reduced supply elasticity
BlockBeats News, March 4, according to Decrypt, the bitcoin rebound continues, breaking through $71,000 for the first time in three weeks. However, whether this upward trend can be sustained still depends on the overall liquidity environment and geopolitical risks. Altura co-founder and CEO Ranveer Arora stated: "ETF capital inflows continue to provide structural buying support, but the more direct driving factors seem to be position resets, reduced supply elasticity after the halving, and improved liquidity expectations. In the crypto market, once selling pressure is absorbed and positions start to rotate, leverage and derivatives capital flows often accelerate the price discovery process." Arora believes that bitcoin's performance remains closely tied to the global liquidity environment. He pointed out that bitcoin's performance "is less like a traditional defensive asset and more like a high-beta expression of global liquidity conditions." LetsExchange Chief Product Officer Alex J. said that bitcoin's rise to $71,000 was "mainly driven by escalating geopolitical tensions and increased uncertainty." When asked whether this round of rebound can be sustained, Alex J. replied: "Most likely not. But I also expect the price will not drop sharply." He explained that when the global financial system experiences severe turmoil and significantly affects liquidity flows between different assets, bitcoin finds it difficult to compete with conservative assets like gold.
Alignment Healthcare Announces Secondary Offering
ORANGE, Calif., March 02, 2026 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC) (“Alignment Healthcare” or the “Company”), an award-winning Medicare Advantage (MA) company, today announced the commencement of an underwritten public offering of 13,167,733 shares of its common stock by an affiliate of General Atlantic, L.P. (the “Selling Stockholder”). The Company will not receive any of the proceeds from the sale of the shares of its common stock being offered by the Selling Stockholder. J.P. Morgan is acting as the underwriter for the proposed offering. The offering is being made pursuant to a shelf registration statement on Form S-3, which has been filed by the Company with the Securities and Exchange Commission (the "SEC") and became effective upon filing on March 2, 2026. The offering will be made only by means of a prospectus supplement and an accompanying prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Alignment Healthcare Alignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health’s mission-focused team makes high-quality, low-cost care a reality for its Medicare Advantage members every day. Based in California, the company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVA®. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include, among others, statements concerning the expected closing of the offering. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our health plans on the Five Star Quality Rating System; our ability to develop and maintain satisfactory relationships with care providers that service our members; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; risks related to our indebtedness; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; and the impact of shortages of qualified personnel and related increases in our labor costs. There can be no assurance that Alignment Healthcare will be able to complete the offering on the anticipated terms, or at all. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2025, and the other periodic reports we file with the SEC. All information provided in this release is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.
TD Cowen Sees Elliott Involvement Supporting Smucker's (SJM) Long-Term Execution
The J. M. Smucker Company (NYSE:SJM) is included among the 14 Value Stocks to Buy with High Dividend Yields. On February 27, TD Cowen raised its price recommendation on The J. M. Smucker Company (NYSE:SJM) to $124 from $112. It reiterated a Hold rating on the shares. The firm said the increase reflects its positive view of activist Elliott Investment Management’s constructive engagement with the company. It expects Elliott’s involvement to support improvements in corporate governance, operational execution, and succession planning over time. During the company’s fiscal Q3 2026 earnings call, CEO Mark Smucker said the company had recently started engaging with Elliott. He described the discussions as constructive and said both sides had already held several meetings. He noted that Elliott largely agreed that the company remained fundamentally strong, supported by its portfolio of established brands. Smucker said there was alignment on several key priorities. He pointed to efforts to improve operations, restore profitability, drive organic growth, and maintain disciplined capital allocation. He also said the company remained focused on evolving its Board, including the recent appointments of Bruce Chung and David Singer. He added that stabilizing the Hostess and Sweet Baked Snacks segments remained a key focus. The company is simplifying its product lineup and concentrating on core products such as cupcakes, Twinkies, and Donettes. He also said the company updated its long-term outlook to reflect a 2% growth trajectory, while emphasizing that stabilizing the business is the immediate priority. The J. M. Smucker Company (NYSE:SJM) produces and markets branded food and beverage products worldwide. While we acknowledge the potential of SJM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 14 Best GARP Stocks to Buy According to Analysts and 13 Best Long-Term Dividend Stocks to Invest in Right Now
Bluprynt completes $4.25 million seed round led by Valor Capital Group
Foresight News reported, according to The Block, that cryptocurrency disclosure company Bluprynt has raised $4.25 million in an oversubscribed seed round led by Valor Capital Group. Other participants included a certain exchange, Robinhood, Selah Ventures, Quona Capital, and individual investors such as Nubank co-founder Edward Wible. Bluprynt was founded and is led by financial policy expert Dr. Christopher J. Brummer, with the aim of streamlining global digital asset compliance processes.
The Dalilah Law may trigger a significant surge in trucking rates
The Dalilah Law: Potential Impact on the U.S. Trucking Industry Senator Jim Banks (R-Ind.) has introduced the Dalilah Law in the Senate, following a call from President Trump during the State of the Union. If enacted, this legislation could cause a sudden and dramatic reduction in trucking capacity, potentially sparking a period of soaring trucking rates as supply tightens overnight. Such a shift could lead to a long-term environment where carriers experience the most favorable market conditions seen in decades. The bill restricts commercial driver’s licenses (CDLs) to U.S. citizens, lawful permanent residents, and a limited group of visa holders (E-2 treaty investors, H-2A agricultural workers, and H-2B non-agricultural workers). This would require states to revoke thousands of CDLs from undocumented drivers and others with temporary or ineligible immigration statuses. Additionally, the law would enforce English-only testing and require all current CDL holders to recertify, with compliance ensured by the threat of losing federal highway funding for states that do not adhere. Unlike regulatory changes from agencies like the FMCSA, this law would become binding federal statute as soon as it is signed by the President, leaving states with no option but to comply quickly to maintain their transportation funding. The only transition period would be a 180-day window for current drivers to recertify. Who Would Be Affected? Foreign-born drivers make up about 18–19% of the U.S. trucking workforce—roughly 630,000 to 720,000 out of a total of 3.5–3.8 million drivers, according to the Bureau of Labor Statistics and industry sources. While not all would lose their eligibility, the law’s strict requirements—excluding undocumented individuals, most temporary statuses, and mandating English proficiency—closely match the scenarios analyzed in a detailed report prepared for J.B. Hunt by Noël Perry of Transport Futures. The report estimates that similar enforcement measures, including English language requirements and documentation checks, could disqualify over 600,000 drivers—about 16% of the active workforce. This includes approximately 197,000 due to English proficiency issues, 252,000 from documentation or immigration status problems, and 167,000 from non-domiciled status revocations, with some overlap and additional hiring restrictions. Immediate Effects on Capacity and Rates Trucks require qualified drivers, and removing such a large portion of the workforce—potentially over 20% when considering the law’s broad scope and rapid implementation—would drastically reduce available capacity almost instantly. This would create a severe shortage, with fewer trucks available to move the same amount of freight. Such a shortage would cause spot market rates for truckload capacity to skyrocket, followed by significant increases in contract rates as the industry adjusts. Trucking companies would face a much smaller pool of drivers, likely leading to substantial wage hikes and large sign-on bonuses. The situation would resemble the capacity crunch seen during the COVID-19 pandemic, but without the influx of new immigrant drivers that previously helped balance the market and contributed to the so-called Great Freight Recession. Past capacity shortages, such as the 2021 freight boom, saw both spot and contract rates climb by double-digit percentages. A reduction of this magnitude could lead to even steeper increases, with some lanes potentially experiencing rate hikes of 50–100% if the driver removals happen quickly and without gradual adjustment. Broader Economic Impact While significantly higher trucking rates would greatly benefit carriers and might slightly raise the cost of goods, trucking expenses typically make up less than 4% of finished product prices. As a result, even a doubling of trucking rates would likely increase consumer prices by less than 1%, keeping the overall effect on inflation limited. With fewer competitors, fleets would gain considerable bargaining power in the short term, though hiring new drivers would become more difficult and costly. Larger carriers might pursue mergers or acquisitions to secure remaining capacity, but the overall trend would be clear: supply would tighten sharply, and rates would surge. A Swift and Lasting Change This legislation is not a gradual policy adjustment or a rule subject to lengthy legal battles. It would be a binding statute, remaining in effect until Congress decides otherwise. The Dalilah Law would redefine who is eligible to hold a CDL nationwide, and the resulting capacity squeeze and rate increases would be felt immediately.
Jacobs Solutions (J) is an Incredible Growth Stock: 3 Reasons Why
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks. Our proprietary system currently recommends Jacobs Solutions (J) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). While there are numerous reasons why the stock of this construction and technical services company is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Jacobs Solutions is 0.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 16.5% this year, crushing the industry average, which calls for EPS growth of 10.3%. Impressive Asset Utilization Ratio Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric exhibits how efficiently a firm is utilizing its assets to generate sales. Right now, Jacobs Solutions has an S/TA ratio of 1.09, which means that the company gets $1.09 in sales for each dollar in assets. Comparing this to the industry average of 0.85, it can be said that the company is more efficient. In addition to efficiency in generating sales, sales growth plays an important role. And Jacobs Solutions looks attractive from a sales growth perspective as well. The company's sales are expected to grow 9.4% this year versus the industry average of 3.9%. Promising Earnings Estimate Revisions Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The current-year earnings estimates for Jacobs Solutions have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.8% over the past month. Bottom Line Jacobs Solutions has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions. This combination positions Jacobs Solutions well for outperformance, so growth investors may want to bet on it.
BIO-key and RunLevel Strengthen Identity Security Across Mozambique's National Payments Infrastructure for Sociedade Interbancaria de Mocambique (SIMO)
Multi-year agreement supports secure digital transformation of banking services and interbank systems MAPUTO, Mozambique and HOLMDEL, N.J., Feb. 24, 2026 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), a global leader in biometric-centric Identity and Access Management (IAM) solutions, today announced a new strategic, multi-year agreement with Sociedade Interbancária de Moçambique (SIMO), the operator of Mozambique’s national electronic payments network. Working in partnership with RunLevel, a specialized regional integrator with identity and cybersecurity experience across Africa, BIO-key will support the modernization of identity and access security across SIMO’s financial ecosystem. The agreement builds on BIO-key’s and RunLevel’s first joint IAM deployment in Mozambique, in May 2025, for a major National Bank. Under initiative, BIO-key’s PortalGuard® IAM platform, PIN:You™ tokenless authentication, and Single Sign-On (SSO) capabilities will be integrated into SIMO’s environment to improve governance, boost cybersecurity resilience, and streamline secure access for institutions participating in the national payments infrastructure. The agreement supports SIMO’s long-term strategy to adopt enterprise-grade identity security aligned with international best practices while continuing to modernize Mozambique’s financial sector. The deployment represents BIO-key’s 11 th banking and financial sector customer globally. SIMO plays a key role in Mozambique’s banking system, by enabling interoperability, clearing, and settlement services across banks and financial service providers via the country’s single national electric payments network known as SIMOrede. As digital banking adoption accelerates to serve Mozambique population of 36.6 million, the need for strong, identity-first security has become critical to maintaining trust, operational continuity, and regulatory compliance. “As Mozambique’s financial system continues to evolve, identity security is vital for ensuring trust, interoperability, and operational resilience across payment services,” said Juna Chiloveque, SIMO’s IT Security and Compliance, CISO. "Partnering with BIO-key and RunLevel allows SIMO to adopt modern identity and access management solutions that strengthen governance, protect essential systems, and support the secure digital transformation of our national payments infrastructure.” “Partnering with SIMO and BIO-key on this project demonstrates RunLevel’s commitment to strengthening digital trust across Africa’s financial ecosystems,” said Miguel Guerreiro, Managing Partner, RunLevel. “By combining local expertise with advanced IAM technologies, we are helping establish secure authentication foundations that allow banks to innovate confidently while safeguarding critical payment infrastructure.” “Our collaboration with SIMO marks an important step in supporting secure digital banking infrastructure in Mozambique,” said Alex Rocha, BIO-key’s Managing Director – International. “Together with RunLevel, we are deploying scalable IAM technologies that help financial institutions modernize access, reduce identity risks, and enable trusted digital services across the ecosystem.” About Sociedade Interbancária de Moçambique (SIMO) SIMO manages the country’s unified electronic payments system, enabling secure clearing, settlement, and interoperability across Mozambique’s banking and financial services network. SIMO plays an important role in advancing financial inclusion and digital transformation nationwide. About Runlevel Runlevel is a specialized cybersecurity solutions provider focusing on Portuguese-speaking African countries (PALOP) and Timor-Leste. The company delivers advanced IT security, infrastructure, and compliance solutions, helping organizations navigate the evolving cybersecurity landscape with best-in-class technology and expert consulting services. About BIO-key International, Inc. BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its cloud-hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
Western Digital Launches $3.09 Billion SanDisk (SNDK) Stock Offering
We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now. On February 18, Sandisk Corporation (NASDAQ:SNDK) announced a secondary public offering of approximately $3.09 billion of common stock currently owned by Western Digital. SanDisk will not issue new shares or receive proceeds from the transaction, which includes a concurrent debt-for-equity exchange. J.P. Morgan Securities and BofA Securities are acting as joint lead book-runners and representatives of the underwriters. Previously, on January 30, BofA raised its price target on Sandisk Corporation (NASDAQ:SNDK) to $850 from $390 and maintained a Buy rating after the company reported fiscal second-quarter revenue and EPS above guidance and issued fiscal third-quarter guidance significantly above Street expectations. Following the results, BofA increased its fiscal 2026 revenue and EPS estimates to $15.7 billion and $39.50, respectively, from $10.9 billion and $16.21, reflecting materially higher margin and profitability assumptions. Strong operating performance and upward estimate revisions underscore improving earnings power and position the company to benefit from favorable memory pricing dynamics. Sandisk Corporation (NASDAQ:SNDK), founded in 1988 and headquartered in Milpitas, California, designs and manufactures flash memory products, including memory cards, USB drives, and solid-state storage solutions. While we acknowledge the potential of SNDK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Up and Coming Streaming Companies and Services and 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
Solana-Backed Jambo Unveils ‘Jarvis’ Agentic Mobile Device
Jambo Technology, a Solana-backed Web3-centered mobile software and hardware firm, has announced the launch of Jarvis, the earliest agentic mobile device. Specifically, Jarvis takes into account the integration of AI agents at the OS and hardware levels. As per Jambo Technology’s official X thread, this landmark development denotes a notable departure from the conventional app-based ecosystem, promising an efficient human-AI interface. Hence, the new product will commence a new epoch where AI agents are free from apps. Today we are proud to present Jarvis: the first ever agentic mobile device with AI agents embedded at the hardware and OS level. Jambo dares to imagine a seamless human-AI interface — free from the clutter of apps and inefficient processes. Project Edge has been building in… — Jambo (@JamboTechnology) February 22, 2026 Jambo’s Jarvis Redefines Smartphones into Independent Digital Companions With Jarvis, Jambo Technology aims to offer a streamlined human-AI interaction without any app-based constraints. Unlike traditional smartphones, where a single application traps AI assistants, Jarvis merges as an advanced agentic mobile device. It incorporates agents across the whole operating system, letting AI natively manage payments, scheduling, browsing, messages, and calls without the need for app-switching or permissions. Hence, by owning software and hardware, Jambo removes the restrictions that often restrict AI functionality. This results in a device that is more than just a phone, offering a real digital companion that can orchestrate complicated tasks. Specifically, Jarvis can execute simultaneous tasks like browsing gifts, processing payments, confirming delivery, and placing orders in seconds, without requiring users to open a single app. Thus, this product can handle diverse steps in one frictionless interaction, revolutionizing convenience when it comes to everyday tasks. Democratizing Intuitive Automation to Transform Mobile Technology Backed by Solana and Paradigm, Jambo Technology deems Jarvis as a crucial step to provide agentic power to democratize cutting-edge AI abilities. The product is poised to start a unique mobile paradigm, marked by universally available, intuitive, and native AI agents. Additionally, Jarvis promises a pivotal shift in the way the humans interact with the next-gen technology. Ultimately, Jarvis has emerged as the leading blockchain-powered product in the age of robust, agentic mobile devices.
Digital Realty Declares Quarterly Cash Dividends for Common and Preferred Stock
AUSTIN, Texas, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, announced today its board of directors has authorized quarterly cash dividends for common and preferred stock for the first quarter of 2026. Common Stock Digital Realty’s board of directors authorized a cash dividend of $1.22 per share to common stockholders of record as of the close of business on March 13, 2026. The common stock cash dividend will be paid on March 31, 2026. Series J Cumulative Redeemable Preferred Stock The company’s board of directors authorized a cash dividend of $0.328125 per share to holders of record of the company’s 5.250% Series J Cumulative Redeemable Preferred Stock as of the close of business on March 13, 2026. The Series J Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2026. Series K Cumulative Redeemable Preferred Stock The company’s board of directors authorized a cash dividend of $0.365625 per share to holders of record of the company’s 5.850% Series K Cumulative Redeemable Preferred Stock as of the close of business on March 13, 2026. The Series K Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2026. Series L Cumulative Redeemable Preferred Stock The company’s board of directors authorized a cash dividend of $0.325000 per share to holders of record of the company’s 5.200% Series L Cumulative Redeemable Preferred Stock as of the close of business on March 13, 2026. The Series L Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2026. About Digital Realty Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. Investor Relations Jordan Sadler / Jim Huseby Digital Realty (214) 231 - 1350
Are Investors Undervaluing J.Jill (JILL) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels. In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment. One stock to keep an eye on is J.Jill (JILL). JILL is currently sporting a Zacks Rank #1 (Strong Buy) and an A for Value. The stock is trading with P/E ratio of 6.26 right now. For comparison, its industry sports an average P/E of 18.41. JILL's Forward P/E has been as high as 7.92 and as low as 4.10, with a median of 5.90, all within the past year. Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. JILL has a P/S ratio of 0.41. This compares to its industry's average P/S of 0.57. These are only a few of the key metrics included in J.Jill's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, JILL looks like an impressive value stock at the moment.
AI can be found in many areas except within the data itself, indicating that it is more likely to support workers in certain industries instead of fully replacing jobs across the board, according to a leading economist.
AI’s Economic Impact: Still Waiting for Clear Signs Although many anticipate that artificial intelligence will usher in a period of rapid economic expansion and prosperity, Apollo’s Chief Economist Torsten Slok notes that its influence has yet to be reflected in major economic indicators. In a recent commentary, Slok referenced economist Robert Solow’s famous observation from the 1980s, when personal computers were reshaping industries: “You can see the computer age everywhere but in the productivity statistics.” Slok argues that a similar situation exists with AI today. Key metrics such as employment, productivity, and inflation have yet to reveal the transformative effects of artificial intelligence. Even S&P 500 companies, excluding the “Magnificent 7,” show little evidence of AI-driven improvements in profit margins or earnings forecasts. “AI is present everywhere except in the latest macroeconomic figures,” Slok remarked. Market Response and Investor Sentiment Despite the lack of clear economic data, investors are not waiting for AI to disrupt traditional business models. Their concerns have recently contributed to significant declines in the stock market. As advanced AI chatbots become more prevalent, shares of companies involved in wealth management, insurance, tax services, accounting, professional data, legal research, trucking, and logistics have experienced notable sell-offs. Optimism from AI Leaders On the other hand, AI advocates remain optimistic about its potential. At the World Economic Forum, Anthropic CEO Dario Amodei suggested that AI could push GDP growth rates as high as 5% to 10%. Elon Musk, cofounder of xAI, has even predicted that AI will generate such immense wealth that, within two decades, working could become a choice rather than a necessity. Nevertheless, Slok remains cautious. “Perhaps AI will eventually show up in macroeconomic data after a delay, similar to a J-curve effect. Or perhaps it won’t,” he wrote. He explained that the impact will depend on the value AI brings to the economy, which so far appears to be unfolding differently than the computer revolution of the 1980s. Rather than early adopters enjoying monopoly-like profits, intense competition among large language model developers has driven prices down for consumers. From a broader economic perspective, Slok emphasized that AI’s value depends on its practical applications, not just the technology itself. So far, economists are not forecasting major changes, citing several research studies. Modest Projections from Economic Models The Penn Wharton Budget Model estimates that AI could increase total factor productivity by only 0.1 to 0.2 percentage points annually, resulting in a cumulative gain of 1.5% by 2035. According to Slok, after three years of ChatGPT’s existence, there is still little evidence of AI’s impact in economic data. He suggests that AI may enhance labor in certain industries rather than replace it across the board. The Congressional Budget Office (CBO) also projects a conservative outcome, expecting AI to add just 0.1 percentage point per year to productivity growth, ultimately raising output by 1 percentage point by 2036. Labor Market and Productivity Trends The Labor Department recently revised its estimate for 2025 job growth to 181,000, a significant drop from earlier figures and from the 1.46 million jobs added in 2024. Despite this, the economy has continued to expand, raising questions about AI’s actual influence on productivity. The CBO’s latest projections suggest that widespread adoption of generative AI tools could modestly improve business efficiency and organizational practices, leading to a gradual increase in productivity over the next decade. This article was originally published on Fortune.com.
ETH Key Resistance Approaching: $2,059 May Become the Bull-Bear Watershed
Chip data shows that the current ETH price is approaching the strong resistance zone at $2059, where trading volume is concentrated and the buy ratio reaches 1.23, indicating significant selling pressure. Combined with member indicators, the J value has entered the extremely overbought range, and together with the K-line top fractal pattern, this suggests an increased risk of a short-term pullback. If the price fails to effectively break through $2059, it may retest the support at $2047. Both the EMA24 and EMA52 moving averages are in a bearish alignment, further confirming that the downward trend remains unchanged. Trading volume has shrunk to 48% of the recent average, indicating insufficient market momentum, and a rebound will require stronger buying support. Unlock member indicators to accurately capture resistance breakouts and pullback signals, and seize the initiative! Data sourced from PRO members [ETH/USDT, a certain exchange, 4-hour] K-line, for reference only and does not constitute any investment advice.
AI Freight Scaling Tool Released, Trucking and Logistics Stocks Fall
On Thursday, shares of several trucking and logistics companies fell sharply as investors grew concerned that new artificial intelligence tools could significantly eliminate major inefficiencies in the freight sector, leading to reduced demand for industry services. The launch of a new tool called SemiCab by AI company Algorhythm Holdings has made trucking companies the latest victims of market anxiety around artificial intelligence, intensifying the sell-off in software and real estate stocks that were already at historic highs. This significant market rotation comes as investors are increasingly scrutinizing traditional businesses that may struggle to keep up with the rapid development of artificial intelligence. Major trucking and logistics stocks such as C.H. Robinson and RXO both fell more than 20% during Thursday's trading session. J.B. Hunt Transport Services dropped about 9%, XPO fell nearly 7.9%, and logistics firm Expeditors International of Washington declined by almost 16.5%. Meanwhile, Algorhythm's share price—which had been a penny stock before Thursday—soared by about 31%. Daniel Moore, an analyst at Baird, said in a report, “There is an emerging debate around open-source automation agents such as Molt Bot. These tools offer greater potential for automating routine back-office tasks and help level the technology playing field for smaller operators.” Editor: Zhang Jun SF065
Jacobs Solutions: Fiscal First Quarter Earnings Overview
Jacobs Solutions Inc. Reports Strong First-Quarter Results Jacobs Solutions Inc., headquartered in Dallas, announced on Tuesday that it achieved a net profit of $125.5 million for its fiscal first quarter. The company reported earnings of $1.12 per share, with adjusted earnings—excluding special items—reaching $1.53 per share. These figures surpassed analysts’ expectations, as the consensus from four analysts polled by Zacks Investment Research had predicted earnings of $1.52 per share. During the quarter, the construction and technical services firm generated $3.29 billion in revenue, outperforming the $3.18 billion forecasted by three Zacks analysts. Looking ahead, Jacobs Solutions anticipates its full-year earnings will fall between $6.95 and $7.30 per share. This article was created by Automated Insights using information from Zacks Investment Research.
The Numbers and Unresolved Issues Behind Musk's Mega Acquisition
The merger of Space Exploration Technologies Corp. (SpaceX) and artificial intelligence startup xAI will create a powerhouse in the fields of rocket technology and AI. However, the subsequent impact of this deal has raised numerous concerns among investors and experts. Authors: Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Nico Galloagli, Bryan O'Keefe, Ian Mount Image: SpaceX Starship rocket on the launch pad, connected to a crane. Key Unresolved Issues in Musk’s Ambitious Acquisition Re-examining the Costs of the AI Race “Silver has always been an investment trap” The Fallout from the Latest Epstein Files Hello, this is Andrew. One of the largest mergers in history, marked with an asterisk, has concluded: SpaceX has acquired xAI, with the merged company valued at $1.25 trillion. This is an all-stock deal with privately held shares (and a non-publicly assessed valuation, hence the asterisk), but SpaceX plans to go public later this year. The entire deal was orchestrated by Elon Musk, who controls both companies. The merged SpaceX will become a vertically integrated company, able to deploy data centers in space and use these space facilities to provide AI services. There are questions about whether SpaceX really needed to acquire xAI and whether this deal will complicate SpaceX's initial public offering (IPO); however, this is undoubtedly a major boon for xAI's investors (some of whom also previously invested in social media platform X, which has now been acquired by xAI). Additionally, the deal raises long-term antitrust concerns: if space data centers become a reality and Musk nearly monopolizes the field, will other AI model developers be allowed access to these facilities? Key Unresolved Issues in Musk’s Ambitious Acquisition Elon Musk had a busy Monday: he merged his rocket company SpaceX with AI startup xAI, creating the world’s most valuable privately held company. Musk described the merged company as “the most ambitious vertically integrated innovation engine on and beyond Earth.” The deal was finalized just as SpaceX’s long-anticipated IPO, planned for this summer, draws near. But investors and the public are questioning what real value this merger will bring, especially for SpaceX, which was already thriving. Now, it needs to present investors with a more complex business narrative. Key Details of the Deal The deal values SpaceX at around $1 trillion, up from about $800 billion in December last year; xAI is valued at $250 billion, slightly higher than its last funding round. (To complete this deal, SpaceX will need to issue about $250 billion in new shares, which will significantly dilute the holdings of existing investors.) Musk says the merged company will be better equipped to build space-based AI data centers. In theory, such data centers could overcome many of the constraints of terrestrial data centers, such as power usage and physical space. SpaceX released a memo from Musk to employees stating, “In the long run, space-based AI is clearly the only way to scale.” The Optimistic View Andrew Rocco, strategist at Zacks Investment Research, told DealBook that the merged company will make SpaceX “much more attractive to investors,” as it allows Musk to avoid the distractions of running multiple ventures. According to Pitchbook, SpaceX had more than $15 billion in revenue and about $8 billion in profit last year. This profitable company could provide cash flow to the loss-making xAI. Since its founding in 2023, xAI has raised $42 billion from investors (Bloomberg previously reported that xAI burns about $1 billion a month). Significant Concerns Previously, SpaceX planned to raise $50 billion through an IPO, setting a fundraising record, with a clear and appealing business story: the world’s largest rocket company, satellite internet operator, and strong profitability. Now, SpaceX must explain to potential investors why it owns a heavily loss-making AI division—which also includes social media platform X, a company frequently under investigation and fined by government regulators. Bringing space data centers to reality will require overcoming a series of complex challenges: such as cooling technology for space data centers (some estimates say the radiators for cooling may have to be larger than a tennis court) and how to build radiation shielding against cosmic rays. Cost is a core issue; experts believe the cost of sending equipment components into space must decrease by about 90% to be viable. It is predicted this goal could be achieved in the 2030s, but Musk said on Monday that he expects it can be done in just 2 to 3 years. Michael Sobel's investment firm specializes in secondary equity transactions of private companies. He told The Information that several SpaceX shareholders have expressed concerns about the deal. Sobel said most shareholders accept the business rationale behind the deal and trust Musk’s decision-making, but their attitude is “Hmm... (wait-and-see).” Editor: Guo Mingyu
XRP community debates Infrastructure vs. Policy for token utility
Within the XRP Ledger community, debate has emerged over whether the cryptocurrency’s utility will be driven primarily by regulatory changes or infrastructure developments within Ripple’s systems. Summary Routing liquidity through public decentralized exchanges raises compliance challenges for regulated institutions, while permissioned domains, credentialing, and privacy features in Ripple Prime could address these obstacles. The upcoming Permissioned Domains amendment is expected to activate on Feb. 4, 2026, following strong validator consensus. The debate coincides with Ripple and GTreasury’s launch of Ripple Treasury, an enterprise solution integrating traditional cash operations with digital-asset systems. Community member Alex Cobb highlighted the potential of U.S. market-structure legislation, specifically the CLARITY Act, to enhance XRP’s use. In contrast, another participant, Krippenreiter, argued that Ripple’s payment infrastructure—including Ripple Payments’ on-chain XRPL decentralized exchange liquidity and Ripple Prime’s institutional on-ledger settlement—offers greater practical utility. Krippenreiter emphasized that this aligns with Ripple’s prior statements about institutional use of the XRP Ledger, noting that on-chain settlement ensures full transparency and efficiency. The discussion highlighted regulatory considerations: routing liquidity through a public decentralized exchange creates compliance challenges for regulated entities, whereas using a ledger as a post-trade settlement layer presents fewer risks. Attorney Bill Morgan commented that regulated institutions must eventually access XRPL liquidity without running afoul of compliance rules, identifying permissioned domains and DEX structures as potential obstacles. Krippenreiter proposed credentialing and permissioned solutions as remedies. The community is watching the upcoming activation of the Permissioned Domains amendment, which has secured 88.24% validator consensus, with estimated activation on February 4. Discussions also touched on Ripple Prime, with suggestions that privacy features may be needed to enable deeper integration with XRPL inventory on centralized exchanges. Ripple engineering lead J. Ayo Akinyele highlighted the balance between transparency and confidentiality, stressing that institutional adoption depends on privacy mechanisms that maintain regulatory compliance. These debates coincide with Ripple and GTreasury’s announcement of Ripple Treasury, an enterprise treasury infrastructure combining traditional cash operations with digital asset systems. Together, the discussions reflect an ongoing community focus on how both policy and infrastructure will shape XRP’s practical and regulatory utility in the financial ecosystem.
Why are institutions continuing to raise their holdings of TSMC at this level?
Hello everyone, this is You Dou. After TSMC released its 4Q25 earnings report, the market responded quickly. But the real question worth asking is: Why did institutions choose to continue raising TSMC at this point? This question is not answered based on intuition. In this article, I mainly combined the latest research reports released by J.P. Morgan and Goldman Sachs after the earnings report, and from the perspective of institutional models, analyzed why they chose to continue the upward revision at this timing. Let me give the conclusion first. This round of upward revision is not because the earnings report looks “good,” but because the original assumptions can no longer stand. Whether it’s J.P. Morgan or Goldman Sachs, there’s only one thing in common about this move: It’s not a minor adjustment, but a change in long-term assumptions. This change is mainly reflected in three aspects. First Level Reason: AI is No Longer a Marginal Variable In the past few years, institutional judgment on TSMC’s AI-related revenue was mostly: Growth is rapid, but it’s still just a subcategory in HPC, with limited impact on long-term models. After this earnings report, this positioning was completely overturned. Institutions now generally consider AI accelerator-related revenue as: the core variable determining advanced process utilization rates the core variable determining the pace of capital expenditure and even a variable that determines the overall growth slope of the company When AI shifts from being “optional” to the “main variable,” the original growth model naturally needs to be elevated as a whole. This is not bullish sentiment, but a structural change. Second Level Reason: 60% Gross Margin Is Becoming the “Norm” If the revenue side changed the growth slope, then what changed on the profit side is the valuation anchor itself. What’s truly important in this earnings report is not that a single quarter’s gross margin exceeded expectations, but that three things happened simultaneously: 4Q25 gross margin stabilized above 60% 1Q26 guidance further raised Long-term gross margin guidance was clearly raised The implication behind this is: Institutions are starting to accept a new premise— In the coming years, TSMC’s gross margin center may not return to just above 50%. Once the gross margin center is confirmed to be elevated: the change in EPS is no longer linear, but rather the entire profitability range is raised. This is also why many upward revisions are not achieved by simply increasing the valuation multiple, but by re-pricing EPS. Third Level Reason: The “Nature” of Capex Has Changed There has always been controversy in the market over TSMC’s Capex. But the key to the institutional change in judgment this time is not about how big Capex is, but about why Capex needs to be so large. This time, institutions characterize Capex as: not a countercyclical gamble not a defensive investment but rather an early layout driven by the long-term certainty of AI demand In other words: Capex is no longer regarded as a risk variable, but as the result of growth visibility. When Capex is understood this way, its meaning for valuation is completely different. Why Continue Raising “Now” Instead of Earlier or Later? This is a key question that many people tend to overlook. Institutions didn’t just realize today that AI is important, nor did they just now see the tightness in advanced process capacity. The real trigger is that three things were validated at the same time: 1️⃣ AI demand is no longer just order noise, but a sustainable curve 2️⃣ Gross margin has not been significantly pressured by capacity expansion and overseas deployment 3️⃣ Management has become more decisive regarding medium- and long-term Capex When all three conditions are met simultaneously, the original “cautious assumptions” must be revised. That’s also why the upward revision happened at this point, rather than before the earnings report. My Understanding If you only look at the stock price, this upward revision may seem a bit “going with the flow”; but from the institutional model’s perspective, this is a correction that had to be made. TSMC is shifting from: “A highly cyclical manufacturing company” to: “The core asset with structural profitability in the AI infrastructure era.” In this context, institutions continuing to raise is not aggressive, but lagging.
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