Blockonomi

TLDR:
XRP funding rates on Binance have turned extremely negative, signaling heavy short positioning.
XRP has dropped 70% since July 2025, though it remains above its historical lows.
Open interest fell to $350.6 million as leveraged traders exit futures positions broadly.
NVT ratio stays elevated at 162.86, showing network activity lags behind valuation levels.
XRP funding rates have dropped to extremely negative levels as the token continues to trade under pressure. The broader altcoin market remains weak, with roughly 40% of altcoins sitting close to their all-time lows.
XRP has avoided that fate so far, yet it has still lost around 70% of its value since reaching $2.45 in July 2025. Traders on Binance are increasingly positioning for further downside.
Funding Rates Signal Extreme Pessimism
Derivatives data shows that bearish sentiment toward XRP has intensified over recent weeks. Funding rates on Binance, when aggregated over a 30-day period to reflect broader trader sentiment, have moved into extreme negative territory. This pattern indicates that a growing number of traders are holding short positions against XRP.
Analyst Darkfost noted that this pessimism now forms a clear consensus among derivatives traders. According to the analysis, funding rates for XRP have held a bearish bias since the beginning of the year. Such consistency over several months points to sustained skepticism about the token’s near-term direction.
XRP funding rates hit extreme bearish levels after 70% correction
The Altcoin sector continues to be in significant difficulty, with around 40% of Altcoins currently trading very close to their all time low.
XRP has not been spared by this correction even though it… pic.twitter.com/SrEyrMHd3p
— Darkfost (@Darkfost_Coc) July 10, 2026
Historically, extreme funding rate readings following steep corrections have sometimes preceded reversals. Darkfost pointed to April 2025 as an example, when XRP fell to $1.25 before staging a recovery. That rebound eventually produced a 126% rally, illustrating how oversold conditions can shift quickly.
Whether a similar pattern emerges this time remains uncertain. The current setup shares some similarities with past bottoming phases, but market conditions differ across cycles. Traders are watching closely for signs that selling pressure may be nearing exhaustion.
Open Interest and Market Cap Point to Weak Demand
Beyond funding rates, other metrics also reflect a cautious market environment. Open interest in XRP futures has declined to $350.6 million, one of its lowest readings in recent months. This drop suggests that leveraged traders are closing positions rather than adding new exposure.
Analyst Pelinay observed that XRP’s market capitalization has also fallen, reaching $10.89 billion. This decline shows that capital is leaving the market alongside reduced leverage.
Source: Cryptoquant
Fewer open positions combined with a shrinking market cap suggest limited fresh buying interest at current levels.
The NVT ratio, which compares network value to transaction volume, remains elevated at 162.86. A high NVT ratio typically signals that on-chain activity has not kept pace with valuation. This gap suggests that network usage has yet to support a meaningful price recovery.
Taken together, these indicators describe a market where risk appetite has cooled substantially. Futures positioning continues to shrink while spot market capitalization contracts in parallel.
Sellers appear to retain control of price action for now, even as funding rates flash signals reminiscent of past reversal points.
The post XRP Funding Rates Turn Extremely Bearish as Open Interest and Market Cap Slide appeared first on Blockonomi.

Key Highlights
AI assistants now connect directly to Revolut X for enhanced crypto market analysis
Platform enables strategy backtesting, portfolio tracking, and customized price notifications
All trade executions mandate explicit user confirmation before processing
The exchange provides access to more than 300 digital assets
Implementation follows industry trend of AI-enhanced cryptocurrency trading platforms
Revolut has launched integration between Revolut X and third-party AI assistants, providing users with conversational access to cryptocurrency trading capabilities. This functionality encompasses research tools, portfolio oversight, notification systems, trade setup, and performance testing, though all transactions require manual user confirmation.
AI-Driven Interface Transforms Crypto Trading Experience
Revolut enables compatibility with multiple AI platforms including Claude, Gemini, OpenClaw, and Cursor via its exchange integration. Additional compatible systems can connect using a universal skill framework or command-line interface. Technical documentation is publicly available through Revolut X’s official GitHub repository.
Traders can query real-time pricing data and obtain straightforward portfolio performance summaries using natural language. Balance inquiries, position tracking, and personalized alert configuration are accessible through conversational commands. The platform processes both instant market orders and delayed limit orders via plain-English instructions.
Backtesting functionality enables traders to evaluate strategies against past market behavior. Users might analyze a Bitcoin grid trading approach across specific timeframes, receiving detailed performance metrics, risk assessments, and optimization recommendations from the system.
Manual Authorization Required for All Transactions
Revolut maintains a mandatory approval step for every order before Revolut X processes the transaction. Connected AI systems cannot independently execute trades without explicit human authorization. This safeguard preserves user control while streamlining the trading workflow.
The company clearly delineates its services from third-party AI platforms utilizing the integration. Revolut assumes no responsibility for operating or validating external assistant accuracy. Users bear full responsibility for verifying market data and trading instructions generated by these tools.
Erroneous prompts or computational errors may generate inappropriate order parameters or flawed analysis. Traders must verify pricing, volume, order specifications, and risk exposure before confirming transactions. Revolut emphasizes the importance of securing API keys associated with exchange accounts.
Platform Expansion Continues Across European Markets
Revolut X debuted in May 2024 as a desktop-focused exchange serving United Kingdom retail traders. The service expanded throughout 30 European territories in November 2024. Mobile application support rolled out to UK and European Economic Area users in March 2025.
The exchange currently facilitates trading in over 300 cryptocurrency tokens through dedicated infrastructure. Revolut built the AI integration leveraging its existing trading API. Engineering teams successfully prototyped the assistant connection to this interface in approximately 30 minutes during initial testing.
Early prototypes demonstrated inventory tracking, price discovery, order execution, monitoring capabilities, and automated alerting functions. Development teams subsequently created comprehensive tools covering authentication, account connectivity, trade execution, and strategy evaluation. Installation documentation now supports over 50 compatible AI assistant applications.
Industry-Wide Movement Toward AI-Enhanced Trading
This release aligns with broader cryptocurrency industry adoption of agent-based trading infrastructure. Gemini introduced comparable account integration via the Model Context Protocol in April. Liquid subsequently deployed live trading features for conversational AI platforms.
Robinhood has publicly announced forthcoming crypto-specific agentic account features for US markets. Coinbase and Base have built proprietary tools supporting portfolio management, payment processing, and wallet operations. Transaction approval requirements remain standard across most implementations.
Revolut delivers this functionality to a user base exceeding 16 million cryptocurrency customers. The broader organization serves over 75 million retail clients throughout its financial services ecosystem. European cryptocurrency operations function through a Cyprus-regulated entity compliant with MiCA regulatory standards.

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Key Takeaways
SILO stock declined 28% to $5.57 after disclosing a $4 million capital raise.
The biotechnology company will distribute 619,965 shares along with two distinct warrant categories.
Each warrant series features a $6.21 strike price and is immediately exercisable.
Full warrant conversion could bring in an additional $7.7 million in capital.
The firm intends to allocate funds toward working capital and standard corporate activities.
Silo Pharma experienced a dramatic stock decline of nearly 28% after revealing a $4 million private financing arrangement. Trading saw SILO drop to $5.57 during the morning session before finding support around the $5.50 level. This capital raise encompasses both common stock and warrant instruments that may significantly increase the total outstanding share base.
Silo Pharma, Inc., SILO
SILO Stock Tumbles on Capital Raise Announcement
Silo Pharma committed to distributing 619,965 common shares or their pre-funded warrant equivalents via this private financing. Each unit in the offering commands a $6.452 purchase price in accordance with Nasdaq’s at-the-market regulations. The deal structure incorporates two distinct warrant categories as part of the arrangement.
The Series A-3 warrants grant investors the right to acquire up to 619,965 additional common shares. The Series A-4 warrants provide rights to an identical share quantity but feature a condensed time frame. Each warrant category establishes a $6.21 strike price per underlying share.
Investors can exercise these warrants starting immediately upon issuance, providing instant access to extra equity. The Series A-3 instruments will remain valid for five years following the effectiveness of the resale registration. In contrast, Series A-4 warrants will terminate 18 months after registration becomes effective.
Financing Could Yield Extra $7.7M in Capital
Silo Pharma anticipates collecting roughly $4 million in gross capital from this private transaction. This figure represents pre-expense proceeds before deducting placement agent compensation and transaction-related costs. H.C. Wainwright acts as the sole placement agent managing this offering.
The company stands to collect an additional $7.7 million should all warrant holders convert their instruments through cash payments. Whether warrants get exercised hinges on prevailing market dynamics and individual investor choices. As such, there’s no guarantee the firm will capture any portion of these supplementary funds.
Silo Pharma projects the deal will finalize approximately July 10, pending satisfaction of customary closing requirements. Management intends to channel the net capital toward working capital needs and standard corporate activities. These resources could sustain operational activities while the firm’s therapeutic programs continue through development phases.
Instruments Need Registration for Public Resale
Silo Pharma structured this offering utilizing exemptions provided under Section 4(a)(2) and Regulation D. The securities and warrants lack registration under federal securities statutes or relevant state regulations. Therefore, purchasers face restrictions on reselling these instruments absent registration or qualifying exemptions.
The firm executed a registration rights agreement encompassing all securities distributed in this placement. This agreement obligates Silo Pharma to submit registration documents to the Securities and Exchange Commission. These submissions will address the public resale of issued shares and equity underlying the warrant instruments.
Private placements frequently create downward pressure on smaller biotechnology equities due to increased share availability. Expanded share counts can diminish current stakeholder ownership positions and negatively impact per-share valuations. The significant SILO price drop illustrated investor concerns regarding potential ownership dilution.
Company Focuses on Central Nervous System Therapeutics
Silo Pharma functions as a development-stage pharmaceutical enterprise concentrating on neglected medical needs. Its research pipeline emphasizes psychiatric conditions, persistent pain syndromes and central nervous system pathologies. The company currently lacks any commercially approved therapeutic products.
Key pipeline candidates include SPC-15, designed to address post-traumatic stress disorder and associated stress-related conditions. The development roster also features SP-26 targeting fibromyalgia and chronic pain relief. Additionally, Silo Pharma maintains a preclinical program investigating Alzheimer’s disease treatment.
Pharmaceutical development demands continuous capital infusion as clinical trials and regulatory processes typically entail substantial expenditures. Silo Pharma depends on periodic financing transactions to maintain research activities and corporate functions. While this latest placement supplies needed capital, it simultaneously creates meaningful dilution risk for existing shareholders.

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Key Takeaways
American AI leaders OpenAI and Google delivered artificial intelligence services to Singapore operations of Alibaba, Baidu, and Tencent—companies flagged by the Pentagon.
These transactions comply with existing U.S. regulations, as current restrictions don’t prohibit AI service provision outside China’s mainland.
OpenAI terminated several Alibaba-associated accounts following concerns about “distillation”—leveraging AI responses to develop competing models.
Google acknowledges that location-based restrictions alone cannot prevent determined users from circumventing access controls.
Anthropic has adopted more stringent measures, refusing service to all Chinese-affiliated organizations while advocating for expanded federal export regulations.
Major American artificial intelligence companies OpenAI and Google have delivered access to their cutting-edge AI systems to Singapore-registered branches of three prominent Chinese technology corporations—Alibaba, Baidu, and Tencent—despite their parent organizations being featured on a Pentagon watchlist connecting them to Chinese military operations.
BREAKING: OPENAI AND GOOGLE SOLD TOP AI MODELS TO BLACKLISTED CHINESE TECH GIANTS
The US companies confirmed they provided AI access through Singapore-based subsidiaries linked to Alibaba, Baidu and Tencent, per FT.
All three Chinese groups are on a Pentagon blacklist over… pic.twitter.com/hvaWffnVRK
— Coin Bureau (@coinbureau) July 10, 2026
The Financial Times initially broke this story on July 10, 2026.
Understanding the Pentagon’s Military-Linked Companies List
The watchlist in question is officially designated as the 1260H list. This catalog names corporations that American officials suspect maintain connections with China’s People’s Liberation Army.
Inclusion on this roster doesn’t create an automatic prohibition against purchasing U.S. AI technology. Present American regulations don’t prevent Chinese corporations from obtaining advanced AI model access when operating beyond China’s territorial boundaries, explaining the legality of these arrangements.
Both OpenAI and Google verified to the Financial Times that they delivered AI capabilities to these Chinese companies’ Singapore-based divisions.
How OpenAI Addressed the Distillation Concern
Last month, OpenAI revoked access privileges for certain users connected to Alibaba. The organization stated it discovered potential “distillation” activities raising red flags.
Distillation describes a technique where software developers utilize responses generated by sophisticated AI systems to enhance and refine their own rival technologies. OpenAI disclosed that it forwarded information about this behavior to federal authorities.
OpenAI maintains it prevents direct connections originating from China while permitting select Chinese-controlled enterprises to utilize its platforms in jurisdictions where the company believes protective measures can be effectively implemented.
Google stated its AI offerings remain accessible in territories including Singapore and Hong Kong, governed by its terms of service policies. However, Google conceded that geographical limitations alone prove insufficient to prevent technically skilled users from bypassing such restrictions.
Anthropic’s Stricter Position on Chinese Access
Anthropic has implemented more aggressive policies than its competitors. This organization has prohibited Chinese corporations and any overseas entities under their control from utilizing its advanced AI systems.
Anthropic has additionally claimed that Alibaba deployed thousands of fraudulent accounts to extract information from its Claude AI platform.
The firm is actively lobbying federal officials to establish comprehensive export limitations on AI software products, mirroring the constraints already governing sophisticated semiconductor chip exports.
This disclosure has reignited discussions in Washington regarding whether artificial intelligence export regulations have matched the stringency of semiconductor restrictions. Legislators and policy analysts are demanding stricter guidelines governing frontier AI model accessibility.
Alphabet’s stock price showed minimal movement in pre-market trading after the news emerged. Alibaba’s American depositary receipts similarly remained relatively stable.
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TLDR
A Ryanair flight departing Thessaloniki for Memmingen was forced to return after a cabin window separated from the aircraft during flight
A Serbian tourist was nearly ejected from the plane when he was pulled halfway through the window opening
The passenger’s seatbelt and quick-thinking fellow travelers prevented him from being completely sucked out
The man received medical treatment for friction injuries and is reported to be stable
Greek media suggests possible engine debris impact, though official cause remains under investigation
A Ryanair Boeing 737 aircraft was forced to execute an emergency return to Thessaloniki, Greece, this past Friday morning following the mid-flight detachment of a cabin window. The flight had departed for Memmingen, Germany, before the incident occurred.
Ryanair was forced to make an emergency landing in Greece today after a window on the Boeing 737 broke off soon after takeoff
“The head and shoulders of one passenger were outside the window,” … “Fortunately, he hadn’t taken off his seat belt.”
The window was reportedly hit…
— WOLF (@WOLF_Financial) July 10, 2026
A Serbian passenger aboard the aircraft experienced a harrowing ordeal when he was partially sucked through the opening created by the missing window. His seatbelt proved to be a lifesaving device, preventing his complete ejection from the pressurized cabin.
Passengers seated in proximity to the affected individual acted swiftly, grabbing hold of him and pulling him back to safety inside the aircraft. The frightening event triggered widespread alarm among all those on board.
“The majority of passengers were asleep when it happened,” one witness explained. “We heard what sounded like an explosion or a burst tire.”
The passenger described how oxygen masks deployed automatically and an unusual odor permeated the cabin. It became immediately apparent to travelers that the aircraft had experienced rapid decompression.
“I could see another passenger’s head and upper body hanging outside through the window opening,” she stated. “Thank God he had kept his seatbelt fastened.”
Emergency Landing and Response
Ryanair issued a statement confirming the flight’s return to Thessaloniki minutes after departure. The plane executed a standard landing procedure and all passengers were transported back to the airport terminal.
The injured passenger received immediate medical attention upon landing. Medical personnel treated him for friction-related burns, and his overall condition was described as stable and good.
Ryanair provided an alternate aircraft to transport the remaining passengers to complete their journey to Memmingen.
Cause Under Investigation
Greek news outlets indicated the incident took place while the aircraft was flying over North Macedonia. Preliminary reports from local sources point to potential engine debris striking the window as a possible explanation.
Ryanair has not issued an official statement regarding the specific cause behind the window failure. Aviation authorities have launched a full investigation into the matter, including examining the rapid cabin depressurization event.
Footage circulating across social media platforms appeared to capture the damaged window and deployed oxygen masks visible throughout the passenger cabin. These videos await independent verification.
The Boeing 737 model involved in this incident represents one of aviation’s most extensively deployed commercial aircraft types globally. Ryanair operates as one of the continent’s premier budget airline carriers.
No additional injuries were documented among the passenger manifest. Investigative proceedings continue as authorities work to determine the exact circumstances of Friday’s incident.
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Key Takeaways
Fermi shares plummeted approximately 16.6%, beginning the session at $6.15 compared to the previous day’s close of $7.32, with trading volume surpassing 22 million
The company finalized an expanded $375M convertible senior notes issuance at 5.00% interest, maturing in 2031, with the possibility of reaching $431.25M total
The conversion threshold was established at roughly $9.52 per share, sparking concerns about potential shareholder dilution
First quarter 2026 results showed Fermi posting a net loss approaching $189M alongside zero revenue generation, falling short of Wall Street expectations
Company insiders have aggressively liquidated positions, offloading more than 1 million shares over the past three months valued at approximately $7.3M
Shares of Fermi (FRMI) experienced a significant decline of roughly 16.6% during Friday’s trading session after the company announced the pricing of a $375 million convertible senior notes issuance late Thursday evening. The stock commenced trading at $6.15, representing a substantial drop from Thursday’s closing price of $7.32, and hovered near $6.19 with trading activity surging past 22 million shares.
The debt instruments bear a 5.00% interest rate and come due in 2031. The securities were marketed to qualified institutional purchasers in accordance with Rule 144A regulations. The initial purchasers retain the right to acquire an additional $56.25 million worth of notes, potentially expanding the overall offering to $431.25 million.
The conversion threshold has been established at approximately $9.52 per share. Management indicated that a portion of the capital raised would be allocated toward funding capped call transactions, a financial mechanism intended to mitigate dilution risks for current shareholders up to a ceiling of $14.64 per share.
Nevertheless, market participants responded negatively to the announcement. The possibility of substantial dilution affecting a stock already experiencing downward momentum proved sufficient to trigger an aggressive sell-off that initiated during after-hours trading and extended into Friday’s regular session.
First Quarter Results Compound Concerns
The convertible notes announcement comes at an inopportune time for the company. Fermi disclosed a net loss of roughly $189 million during the first quarter of 2026, with non-cash share-based compensation representing a significant portion of that deficit. The organization failed to generate any revenue whatsoever during the three-month period, completely missing analyst projections.
This disappointing performance had already prompted multiple analyst firms to revise their positions. Evercore downgraded Fermi from “outperform” to “in-line.” Wall Street Zen moved its rating from “hold” to “sell.” Stifel Nicolaus dramatically reduced its price target from $29.00 down to $17.00, although the firm maintained its “buy” recommendation. Weiss Ratings confirmed a “sell (d-)” rating as recently as July 2.
The aggregate analyst consensus currently registers as “Moderate Buy” with a mean price target of $22.44 — representing significant upside from current trading levels.
Management stated that funds from the debt offering would be directed toward financing Project Matador, the company’s gigawatt-scale artificial intelligence power facility located in Amarillo, Texas.
Executive Transactions Raise Additional Questions
Insider trading patterns have done little to inspire confidence among retail shareholders. Director James Richard Perry liquidated 863,637 shares on June 30 at an average transaction price of $7.31, generating proceeds exceeding $6.3 million. This divestiture reduced his equity stake by 5.17%.
Insider Mesut Uzman similarly divested 79,509 shares on June 3 at $6.31 per share. Collectively, company insiders have sold more than 1 million shares during the previous 90-day window, with aggregate proceeds of approximately $7.3 million.
Cantor Fitzgerald launched coverage in April with an “overweight” stance and an $8.00 price objective — representing one of the more conservative bullish perspectives on Wall Street.
The stock reached its 52-week peak at $36.99. Friday’s market action has driven FRMI down to approximately $6.19, approaching dangerously close to its 52-week low of $4.47. The convertible notes transaction is scheduled to finalize on July 14, 2026.
The post Fermi (FRMI) Stock Plunges 16% Following $375M Convertible Notes Announcement appeared first on Blockonomi.

Key Takeaways
Clare Market Investments established a fresh stake in SOFI during Q1, acquiring 35,905 shares valued at approximately $570,000.
CTO Jeremy Rishel offloaded 102,123 shares at $17.78 through a predetermined trading arrangement designed for tax purposes.
CEO Anthony Noto purchased 15,545 shares at $16.00 in May, expanding his ownership stake.
First quarter revenue reached $1.09 billion, representing a 42.6% year-over-year increase and surpassing forecasts; earnings per share landed at $0.12.
Wall Street analysts maintain a collective “Hold” rating on SOFI with a mean price target of $22.56.
SoFi Technologies (SOFI) began trading at $18.40 on Tuesday, positioned beneath its 12-month peak of $32.73 yet comfortably above its yearly low of $14.92.
Clare Market Investments LLC launched a fresh position in SOFI throughout the first quarter, securing 35,905 shares with an approximate value of $570,000. This investment firm wasn’t operating in isolation.
Numerous other institutional players have been recalibrating their holdings. Arrowstreet Capital established a new position valued at $4.63 million during Q2. Franklin Resources expanded its stake by 23.2% within the identical timeframe.
Brighton Jones LLC supplemented an already existing position, increasing its holdings by 2.0% in Q4. The firm currently maintains 719,288 shares with an estimated value approaching $11.08 million.
Institutional ownership now represents 38.43% of SOFI stock. This constitutes a substantial degree of professional capital allocation for a fintech enterprise navigating its growth phase.
Corporate Insiders Display Conflicting Trading Patterns
When examining insider transactions, the landscape presents somewhat contradictory indicators. CTO Jeremy Rishel divested 102,123 shares on June 17th at a mean price of $17.78, generating proceeds slightly exceeding $1.81 million.
This transaction occurred pursuant to a previously established Rule 10b5-1 trading arrangement designed to satisfy tax liabilities associated with equity compensation vesting — a circumstance that doesn’t automatically suggest negative sentiment.
CEO Anthony Noto pursued the opposite strategy. He acquired 15,545 shares on May 11th at $16.00 apiece, deploying $248,720 of personal capital. His direct ownership now exceeds 11.9 million shares, carrying an approximate valuation of $191 million.
Cumulative insider selling across the preceding 90 days amounts to 134,044 shares representing roughly $2.37 million. Company insiders control 2.50% of outstanding equity.
SOFI currently operates with a price-to-earnings multiple of 41.83 and exhibits a beta coefficient of 2.14, positioning it as a notably volatile security. The 50-day moving average registers at $16.88, while the 200-day stands at $19.67.
First Quarter Results Exceed Revenue Projections
SoFi disclosed Q1 financial results on April 29th. Earnings per share registered at $0.12, aligning precisely with analyst consensus. Revenue totaled $1.09 billion, surpassing the $1.05 billion estimate and climbing 42.6% compared to the corresponding quarter in the previous year.
Twelve months earlier, SOFI generated EPS of merely $0.06. The year-over-year earnings expansion has proven substantial.
Return on equity measures 6.25%, accompanied by a net profit margin of 14.65%. Company leadership has established FY2026 EPS guidance at $0.60. The analyst community collectively anticipates $0.59 EPS for the complete fiscal year.
Regarding analyst sentiment, seven research firms assign SOFI a Buy rating, eleven recommend Hold, and three maintain Sell ratings. The consensus price target averages $22.56.
Needham reduced its target from $33.00 to $25.00 on April 30th while preserving a Buy recommendation. Deutsche Bank maintained its $18.00 target with a Hold designation. UBS decreased its target from $24.50 to $21.00, assigning a Neutral rating.
Argus initiated coverage in April with a Hold recommendation. Weiss Ratings lowered SOFI from “hold (c)” to “hold (c-)” on May 26th.
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TLDR
Friday’s session saw the Dow rise 0.1%, S&P 500 remain unchanged, and Nasdaq decline 0.2%
South Korean chipmaker SK Hynix secured $26.5 billion through its American stock offering, setting an all-time record for foreign companies
Semiconductor sector experienced downward pressure before SK Hynix’s Nasdaq trading debut
Crude oil maintained levels around $72 per barrel as Strait of Hormuz shipping experienced renewed disruptions
Delta Air Lines exceeded profit forecasts but shares declined due to elevated fuel expenditures
American equity markets displayed varied performance Friday morning as market participants focused on an unprecedented Wall Street milestone. South Korean memory semiconductor manufacturer SK Hynix commenced Nasdaq trading following a record-shattering $26.5 billion American stock offering.
This unprecedented capital raise establishes a new benchmark as the most substantial US market listing by any international corporation. As a critical component provider to Nvidia, SK Hynix’s market entrance attracted significant attention from traders evaluating demand for artificial intelligence-linked equities.
The Dow Jones Industrial Average climbed approximately 0.1% during opening transactions. The S&P 500 maintained essentially neutral positioning, whereas the technology-concentrated Nasdaq Composite decreased 0.2%.
E-Mini S&P 500 Sep 26 (ES=F)
Semiconductor equities experienced broad declines preceding the SK Hynix market introduction. Market participants demonstrated measured skepticism rather than enthusiasm ahead of the debut, applying moderate downward momentum to technology shares.
Crude Markets and Persian Gulf Developments
Oil markets remained volatile as Middle Eastern geopolitical events continued capturing market focus. The United States and Iran executed their most intensive military exchanges since ceasefire terms were established, generating renewed anxiety regarding territorial stability.
West Texas Intermediate crude contracts maintained positions near $72 per barrel. Brent crude, serving as the worldwide pricing reference, exchanged hands above $76 per barrel.
Shipping activity through the Strait of Hormuz, an essential conduit for worldwide petroleum distribution, experienced another slowdown. Market observers have indicated that traders have substantially adjusted to interruptions in that waterway, though the reduced flow continued supporting price levels.
Petroleum futures registered modest declines during the session, with West Texas Intermediate retreating approximately 0.4%.
Delta Delivers Solid Results Despite Fuel Price Headwinds
Delta Air Lines unveiled second-quarter financial performance exceeding analyst profit projections. The carrier additionally reestablished its annual forecast, demonstrating management conviction in operational trajectory.
Notwithstanding the earnings surpass, Delta’s shares declined throughout the trading day. The company disclosed substantial fuel expenditures during the quarter, dampening investor optimism despite its premium service segment partially mitigating cost pressures.
Delta’s quarterly disclosure contributed a corporate performance dimension to an action-packed trading session. The combination of a landmark initial public offering, international security concerns, and significant airline results provided market participants substantial information to evaluate Friday morning.
The SK Hynix market entrance remained the predominant focal point of the session. Whether the stock’s inaugural American trading performance would strengthen or diminish wider enthusiasm for AI-connected securities emerged as the critical consideration approaching afternoon trading hours.
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Key Highlights
Meta is set to launch production of its proprietary AI chip, dubbed “Iris,” this September
Semiconductor equipment manufacturers Applied Materials, Lam Research, and KLA each climbed more than 4% following the announcement
Lumentum dominated S&P 500 gains with a 12% surge
Wall Street analysts boosted price targets for Applied Materials and Lam Research in response
Industry forecasts predict the wafer fabrication equipment sector will expand from $145 billion in 2025 to $250 billion by 2028
Meta Platforms revealed its intention to commence production of “Iris,” a custom-designed AI processor, beginning in September. The disclosure triggered a substantial rally in semiconductor equipment manufacturers on Thursday.
Applied Materials, Lam Research, and KLA—all major suppliers of wafer fabrication equipment used to transform silicon wafers into functional microchips—experienced gains exceeding 4% during the trading session.
Lumentum, which specializes in optical networking solutions, jumped 12%, ranking among the day’s top S&P 500 performers. Vertiv Holdings climbed 2.8%.
When contacted by Barron’s regarding the initial Reuters report, Meta representatives declined to provide commentary.
The Chip Equipment Industry’s Growth Opportunity
Applied Materials, Lam Research, and KLA serve as critical suppliers to semiconductor manufacturing operations. When major technology firms like Meta opt to develop proprietary chip designs, it generates substantial demand for the specialized equipment these manufacturers provide.
Year-to-date performance for all three companies has been remarkable, with each stock appreciating more than 90%. Market participants have maintained optimistic forecasts regarding sustained demand for chip fabrication equipment.
Citi Research values the current wafer fab equipment market at approximately $145 billion for 2025. Their projections indicate expansion to $200 billion by 2027, ultimately reaching $250 billion in 2028.
According to Citi’s estimates, hyperscale cloud providers—including Meta, Amazon, Microsoft, Alphabet, and Oracle—will increase capital expenditures by 84% this year. This group’s combined spending is anticipated to exceed $1.1 trillion by 2027, representing a significant jump from this year’s $650 billion.
Stifel’s research team noted that “agentic AI has steepened the demand curve for memory and logic chips.” Their forecasts predict wafer fab equipment expenditures will reach $192 billion in 2027 and $225 billion by 2028.
Wall Street’s Take on the Developments
Mizuho Securities increased its price target for Lam Research from $380 to $400 and elevated Applied Materials’ target from $540 to $650. Both companies retained their Outperform ratings.
TD Cowen significantly raised its Applied Materials price objective to $700, up from $525.
Morgan Stanley maintained its $404 price target for both Lam Research and KLA, preserving Overweight ratings on each stock.
Stifel boosted its price targets substantially: Applied Materials from $530 to $650, KLA from $191 to $270, and Lam Research from $325 to $425. All three maintain Buy ratings from Stifel.
Morgan Stanley’s Shane Brett indicated expectations for Lam Research to deliver fourth-quarter results that exceed consensus estimates when reported at the end of July, accompanied by upward guidance revisions.
Regarding KLA, Brett expressed optimism about long-term prospects while adopting a more measured stance on near-term performance. He observed that market expectations already incorporate potential earnings outperformance.
Stifel additionally increased price targets on smaller industry participants Ichor Holdings and Cohu, assigning Buy ratings to both.
The semiconductor equipment sector’s next significant event will be Lam Research’s fourth-quarter earnings announcement, scheduled for late July.
The post Meta’s In-House AI Chip Sparks Rally in Chip Equipment Stocks appeared first on Blockonomi.

TLDR
Israeli intelligence officials briefed U.S. counterparts on a credible Iranian assassination scheme targeting President Trump
The intelligence brief was deemed “specific” and more credible than routine threat assessments
Tehran has maintained its vow to avenge Trump’s 2020 drone strike that killed General Qassem Soleimani
A tenuous U.S.-Iran ceasefire established last month faces collapse amid renewed military operations
President Trump openly acknowledged the threats, stating he appears “on every single one of their lists”
Israeli intelligence officials briefed their American counterparts this week regarding a credible Iranian assassination scheme targeting President Donald Trump. Multiple sources with knowledge of the matter characterized the warning as “specific,” according to reporting from CNN and the Wall Street Journal.
BREAKING: Israel has shared intelligence with the U.S. indicating Iran recently devised a new plot to assassinate President Trump, according to the Wall Street Journal.
The warning comes as Iranian leaders and demonstrators have continued to publicly call for retaliation against… pic.twitter.com/n7tprTYPNe
— Fox News (@FoxNews) July 10, 2026
U.S. intelligence agencies had previously been monitoring what officials termed “a steady drumbeat” of potential assassination threats. However, the Israeli briefing distinguished itself by identifying a concrete operational plan rather than merely monitoring general hostile rhetoric.
Tehran has publicly maintained its commitment to retaliate against Trump for authorizing the elimination of General Qassem Soleimani. The high-ranking commander within Iran’s Islamic Revolutionary Guard Corps was killed in a January 2020 drone strike ordered by Trump during his initial presidential term.
President Trump Publicly Addresses Assassination Threats
Trump spoke candidly about the threats while engaging with reporters aboard Air Force One on Wednesday, following his participation in a NATO summit held in Ankara, Turkey.
“They want to take out the U.S. leader — me,” Trump stated. “I’m on every single one of their lists.”
The president refrained from providing additional details but indicated he had reviewed intelligence briefings that morning concerning the threats to his safety.
During the NATO summit, Trump made a noteworthy decision regarding his return flight, opting to travel aboard his older Air Force One aircraft while directing his newer Qatar-gifted plane to proceed to Britain. The New York Times confirmed the aircraft swap was executed following a U.S. Secret Service security recommendation.
This security adjustment occurred as American forces conducted additional strikes against Iranian targets, notably as Iran borders Turkey, the host nation of the summit.
Fragile U.S.-Iran Ceasefire Shows Cracks
Washington and Tehran established a delicate ceasefire arrangement last month. However, reciprocal military strikes from both nations have intensified concerns that a comprehensive military confrontation may be imminent.
Trump has expressed his desire to find an exit strategy from the conflict, emphasizing worries that prolonged hostilities could inflict significant damage on the worldwide economy.
Israeli Prime Minister Benjamin Netanyahu has advocated for an alternative strategy. He has championed maintaining offensive operations against Iran to accomplish additional strategic objectives.
The two leaders conducted a phone conversation on Thursday. Netanyahu’s office released a statement indicating both parties agreed to maintain “coordination between the countries.” Trump also briefed Netanyahu on recent U.S. military operations in the Gulf region.
Their diplomatic relationship has exhibited signs of tension in recent weeks. The leaders have engaged in multiple strained telephone discussions as their respective positions on addressing the Iranian conflict have diverged.
During memorial services for deceased Iranian Supreme Leader Ali Khamenei, attendees displayed a banner declaring “We Will Kill Trump.” Large gatherings chanted slogans calling for the American president’s death.
The Israeli Embassy in Washington refused to provide commentary on the intelligence exchange. Iran’s Mission to the United Nations did not provide a response when contacted for comment.
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Key Takeaways
Nicole Inui from HSBC has identified ten Buy-rated equities to monitor as second-quarter reporting season launches next week
Selected companies represent technology, banking, consumer goods, and industrial manufacturing sectors
Azure AI at Microsoft is experiencing 40% annual revenue expansion, with momentum expected to continue
Meta’s advertising revenue surged 33% in the first quarter, fueled by artificial intelligence-enhanced recommendation engines
Wells Fargo’s valuation sits at merely 10.8x forward 2027 earnings, bolstered by robust share repurchases and lending expansion
As the second-quarter earnings cycle prepares to launch next week, HSBC has unveiled its premier stock selections. Led by analyst Nicole Inui, the research team compiled a roster of Buy-rated companies positioned for strong performance across diverse market segments.
Market expectations entering this reporting period remain elevated, and HSBC’s selections mirror this optimism. The compilation encompasses technology leaders, financial institutions, consumer-focused companies, and industrial manufacturers.
Technology Sector Dominates Recommendations
Microsoft claims the top position, with its Azure AI platform delivering 40% revenue growth compared to the prior year. According to HSBC’s analysis, the company’s ability to cross-sell throughout its product portfolio strengthens customer retention and enhances profitability metrics, even as capital expenditures remain substantial. The tech giant recently finalized a two-decade electricity supply agreement with Chevron to power a forthcoming data facility in western Texas.
Alphabet appears positioned to maintain dominance in its core Search business while Google Cloud experiences accelerated expansion. The company’s latest TPU processors—eighth-generation chips—are now available to external clients. Additionally, Google announced intentions to deploy more than €1 billion toward expanding its Austrian data center infrastructure.
Amazon maintains growth momentum in AWS despite operating the industry’s largest cloud revenue foundation. The e-commerce giant’s proprietary semiconductor technology has evolved into a $20 billion annual recurring revenue operation. Amazon recently introduced Loom for AWS, a secure deployment platform designed for AI agent applications.
Meta achieved 33% advertising revenue growth during the first quarter, incorporating a 12% increase in advertisement pricing, driven by AI-powered optimization tools. The social media company initiated construction on a $13 billion AI-focused data center in Canadian territory.
Industrial, Healthcare, and Banking Sectors Complete the Portfolio
Caterpillar stands to benefit from artificial intelligence data center electricity requirements and capacity expansion targeting 65GW by decade’s end. The heavy equipment manufacturer recently completed the acquisition of spatial data company Skycatch and increased its quarterly dividend payment by 8%.
Vertiv derives approximately 80% of total revenue from data center operations, representing the highest concentration among American capital equipment companies. The firm finalized its purchase of thermal technology specialist ThermoKey and inaugurated a manufacturing operation in Malaysian territory.
Nextpower maintains an order backlog surpassing $5.25 billion in solar tracking systems, with a recently established Middle Eastern joint venture expanding geographic footprint.
Marriott operates through an asset-light business framework supported by 283 million Bonvoy loyalty program participants. The hospitality company recently introduced a beta version of Ask Bonvoy, an artificial intelligence-powered search utility for accommodation reservations.
AbbVie’s pharmaceutical products Skyrizi and Rinvoq are projected to fuel revenue expansion through the early 2030s. The Apogee transaction contributes additional development opportunities in atopic dermatitis treatment. Guggenheim recently elevated its valuation target for the pharmaceutical company to $261.
Wells Fargo completes the selection list, trading at 10.8x forward 2027 earnings estimates. HSBC emphasizes recovering net interest income, solid lending growth, and continued share repurchase activity as primary catalysts.
According to HSBC, these selections provide investors with exposure to multiple expansion themes as corporations prepare to announce quarterly results against heightened market benchmarks. The second-quarter earnings cycle commences next week.
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Key Highlights
Morgan Stanley advances following MSIP’s exclusive negotiations for Nicollin control.
Nicollin operates through 360 municipal agreements and serves 8,000 business clients nationwide.
Investment priorities include vehicle fleet modernization, emissions reduction, and enhanced public services.
Founding family members will maintain ownership participation and continue supporting development.
Transaction completion is anticipated in Q4 2026, subject to regulatory clearance.
Morgan Stanley (MS) stock increased 0.42% to reach $223.06 following news that its infrastructure division initiated acquisition discussions for a prominent French environmental services provider. Morgan Stanley Infrastructure Partners (MSIP) has entered exclusive negotiations to secure a controlling position in Nicollin Environnement. This transaction would significantly broaden MSIP’s portfolio within critical waste management, sanitation, and water infrastructure throughout France.
Morgan Stanley, MS
MSIP Pursues Control of Leading Environmental Services Provider
Morgan Stanley Investment Management disclosed the agreement through investment vehicles under its private infrastructure division, MSIP. The founding family will maintain partial ownership and actively participate in the company’s future development stages. All parties have pledged to finalize the arrangement following completion of mandatory consultations and regulatory processes.
Nicollin delivers comprehensive waste retrieval, material separation, urban sanitation, water services, and treatment solutions throughout French territories. The organization maintains operations via a distributed network of regional service facilities serving both governmental entities and commercial enterprises. Its client base encompasses roughly 360 municipal service agreements and approximately 8,000 corporate accounts.
The enterprise maintains a workforce of about 4,800 personnel and manages a vehicle fleet containing approximately 2,900 units. Nicollin additionally maintains ownership of storage facilities, transfer hubs, processing centers, and various critical operational properties. These infrastructure components enable continuous environmental service delivery and provide dependable operations spanning multiple French territories.
Infrastructure Investment Strategy Focuses on Modernization
MSIP intends to collaborate closely with Nicollin’s family investors and executive leadership following deal completion. The infrastructure investment firm will facilitate operational enhancements, equipment modernization, and additional capital deployment across the company. Strategic priorities include reinforcing service capabilities for government agencies and commercial clientele.
Vehicle fleet decarbonization represents a core element of the planned capital allocation approach. Nicollin maintains thousands of vehicles supporting waste retrieval, street maintenance, and associated environmental operations. Equipment upgrades are expected to decrease carbon emissions while enhancing dependability and operational performance.
MSIP has also recognized potential tied to France’s sustainable economy initiatives and critical municipal infrastructure. Nicollin combines enduring regional partnerships with repeat contract arrangements and proven operational assets. As a result, the enterprise aligns with MSIP’s comprehensive European infrastructure acquisition framework.
Three Generations Build National Environmental Platform
The Nicollin family established the enterprise in 1945 and has directed operations across three successive generations. Throughout eight decades, the organization evolved from regional operations into a comprehensive national environmental services platform. It currently holds position among France’s premier independent family-controlled enterprises within this industry segment.
Nicollin structures its operations through distinct Environment and Water business units. The Environment segment oversees waste services and urban maintenance for governmental and commercial accounts. The Water segment addresses water resource management, treatment systems, and associated infrastructure services.
The acquisition is scheduled to finalize during the fourth quarter of 2026, contingent upon satisfaction of all closing conditions. Worker representative organizations must conclude required information sharing and consultation protocols prior to finalization. The arrangement additionally requires standard regulatory authorizations from appropriate government agencies.
Paul Hastings provided legal counsel to MSIP, while Natixis Partners served as its financial advisor. Clifford Chance represented the Nicollin family interests, and Rothschild and Co delivered financial guidance. The negotiating parties have not revealed the transaction’s monetary terms or precise ownership allocation.

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Internet Court unites 27 Web3 firms around contracts, escrow, payments, and AI Agent dispute resolution.
GenLayer validators use varied language models to assess evidence, review rulings, and support staged appeals.
The six-layer framework links agent identity, wallet permissions, payments, escrow, execution, and disputes.
GenLayer targets a fourth-quarter 2026 mainnet launch as partners prepare integrations for agent commerce.
The GenLayer Foundation has assembled 27 Web3 companies around Internet Court, an open standard for contracts, payments, escrow, and dispute resolution between autonomous systems. Announced on July 10, the coalition includes OKX, MetaMask, ZKsync, 0G Labs, BNB Chain, NEAR, Starknet, Nansen, Kleros, and UMA.
OKX, MetaMask, Matter Labs Back ‘Internet Court’ for AI Agents
According to CoinDesk, OKX, MetaMask, Matter Labs and 24 other Web3 firms have joined the Internet Court, a consortium led by the GenLayer Foundation to develop a decentralized dispute resolution system for AI… pic.twitter.com/jeASBQ6xfw
— Wu Blockchain (@WuBlockchain) July 10, 2026
The project addresses a growing gap in agentic commerce, where software can negotiate and pay, but supporting protocols often operate separately. Internet Court aims to connect those functions, allowing an AI Agent to define obligations, lock funds, preserve evidence, and select dispute rules before transacting.
Internet Court Connects Six Layers of AI Agent Commerce
The proposed framework covers discovery, reputation, negotiation, contracts, escrow, execution, verification, and disputes across six connected layers. It incorporates ERC-8004 for identity, Google’s Agent2Agent protocol, ERC-7710 for wallet permissions, and x402 for internet-native payments.
GenLayer provides the central AI-based adjudication system through intelligent contracts, which combine executable code with natural-language terms and external information. When parties disagree, randomly selected validators use different large language models to examine evidence and determine whether obligations were met.
A lead validator proposes a ruling, while other validators review that decision before finality is reached. Disputed outcomes can move into larger appeal rounds, adding another review layer before the system closes a case.
That process is designed for questions ordinary smart contracts cannot easily resolve. Those include whether a digital service met quality standards or whether performance logs matched contractual promises.
GenLayer says validators can review web data, documents, and plain-language instructions. The network also uses undisclosed, varied models through “greyboxing,” reducing dependence on one model and limiting prompt-injection risks.
GenLayer’s Dispute Model Targets Machine-Led Transactions
The commercial backdrop is substantial. McKinsey estimates AI Agents could mediate between $3 trillion and $5 trillion in global consumer commerce by 2030 under moderate adoption.
Adobe also reported a 4,700% annual increase in generative AI traffic to United States retail websites during July 2025. However, much of that traffic still involved research rather than completed autonomous purchases.
Early Internet Court use cases include service-level agreements, wallet-permission revocations, and disputes involving conflicting digital records. One example involves an AI Agent purchasing inference services and placing several dollars into escrow.
If signed logs show missed uptime or latency targets, the buyer could automatically receive compensation under previously agreed terms. That structure links performance records directly with payment enforcement and dispute handling.
The initiative also faces measurable limits. A 2026 study of disputed Polymarket events found web-enabled language models matched UMA’s final resolutions in 89.58% of cases.
However, those models could not reliably identify which markets would later become disputed. The finding supports the need for appeals, stronger evidence controls, and human escalation.
GenLayer currently targets a mainnet launch in the fourth quarter of 2026. Until then, the coalition’s progress will be measured by integrations across participating platforms.
The 27-company group gives Internet Court broad infrastructure support. That framework links adjudication with machine-led payments and service delivery. Its larger test will be whether the shared standard becomes operational across real AI Agent transactions.
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Key Takeaways
Burry describes AI’s reliance on language models as a fundamental design flaw
He presents ‘Ballard’s Test’ — authentic intelligence must function without linguistic dependence
The industry is caught in what Burry terms a ‘parameter trap,’ endlessly expanding broken systems
A core contradiction exists between Nvidia’s growth needs and what cloud giants actually require
Burry has opened fresh short positions targeting Nvidia, Tesla, and semiconductor index funds
Michael Burry, whose foresight about the 2008 financial collapse made him a household name, has now set his sights on the artificial intelligence boom — and the tech giants profiting from it.
Writing on his Substack platform ‘Cassandra Unchained,’ Burry presented a dual critique: one examining AI’s architectural design, the other dissecting its economic sustainability.
The Fundamental Design Error in Modern AI
Burry unveiled a framework he terms ‘Ballard’s Test.’ This principle holds that authentic intelligence must demonstrate reasoning capabilities independent of language structures.
According to Burry, the initial ambition of AI research centered on creating this type of pure reasoning capability. When that objective proved unattainable, the field pivoted toward language-driven architectures.
Burry characterizes this pivot as a ‘known flaw’ and a ‘bad start.’ His position is that the industry never addressed this foundational weakness — it simply proceeded despite it.
The consequence, he argues, is what he labels a ‘parameter trap.’ Rather than resolving the underlying issue, corporations are merely constructing exponentially larger iterations of an inherently compromised framework.
He further emphasized that this methodology requires unprecedented computational resources — ‘zillions of power-hungry chips,’ in his words.
The Nvidia (NVDA) Dilemma
Burry’s analysis then shifted to the commercial dynamics underpinning AI, where he identifies an irreconcilable tension.
Nvidia’s business model requires perpetual expansion of AI chip consumption. This continuous growth trajectory validates both its current earnings and the valuation multiple the market assigns it.
Hyperscalers — tech behemoths like Meta, Amazon, and Microsoft — require precisely the inverse scenario. Their financial planning depends on capital expenditure cycles concluding within three to four years, allowing operational costs to normalize.
‘The hyperscalers are promising permanent demand growth and temporary spending over 3-4 years all in the same breath,’ Burry observed.
He contends these projections are mutually exclusive.
Burry additionally highlighted that free cash flow among leading hyperscalers is already approaching zero levels. While their accounting profits appear healthy, he suggests this reflects extended depreciation timelines that obscure actual capital consumption.
He argues that AI optimists envision a ‘third door’ — a scenario where demand remains robust while expenditures decline, creating a win-win outcome for all stakeholders.
Burry’s assessment is unequivocal: ‘There is no third door.’
He has translated this conviction into concrete market positions, establishing short positions against Nvidia, Tesla, and the iShares Semiconductor ETF.
Regardless of whether his market timing proves accurate, his thesis poses a fundamental challenge — who genuinely profits from AI infrastructure, and is it possible for both semiconductor manufacturers and cloud hyperscalers to simultaneously succeed?
Burry’s answer is unambiguous: no.
The post Michael Burry Warns AI Has Hit a ‘Parameter Trap’ — And Nvidia (NVDA) Is Caught in the Crossfire appeared first on Blockonomi.

Key Takeaways
Shares of JZXN climbed 82.21% following announcement of a potential AI imaging collaboration
The proposed agreement could yield approximately $1 million in profits during the first implementation stage
Partnership framework encompasses image processing, data management, and cloud infrastructure services
Company seeks to transform its AI imaging technology into market-ready enterprise solutions
Final agreement has not been executed and remains contingent on implementation success and client acceptance
Shares of Jiuzi Holdings (JZXN) rocketed 82.21% to reach $2.14 following the company’s announcement of a potential artificial intelligence collaboration framework. The equity temporarily climbed to $2.59 during morning trading hours before pulling back slightly. The proposed initiative is projected to deliver approximately $1 million in profits throughout its opening implementation stage.
Jiuzi Holdings, Inc., JZXN
Partnership Framework Focuses on Enterprise Implementation
Jiuzi intends to collaborate with an organization that specializes in advanced imaging technology and data platform solutions. The two entities anticipate building imaging capabilities, data infrastructure, platform offerings, and business-focused applications. Nevertheless, the formal cooperation framework remains unsigned at this stage.
The opening phase of this initiative emphasizes real-world enterprise applications and direct revenue streams. Both organizations intend to customize technological solutions, validate them in targeted environments, and establish cloud-based infrastructure. Additional priorities include enhancing data processing workflows and integrating information across multiple file types.
The collaboration also encompasses capabilities such as visual recognition, contextual analysis, automatic metadata generation, and smart image curation. These functionalities could benefit organizations managing substantial volumes of visual content and operational information. Jiuzi anticipates that this partnership will accelerate product validation cycles and streamline project execution timelines.
Company Advances Intelligent Imaging Business Model
This potential collaboration aligns with Jiuzi’s strategic pivot toward intelligent imaging technologies and enterprise data offerings. The organization has developed an advanced platform consistent with its established technology roadmap. Management now seeks to transition this platform from the development phase into active commercial deployment.
Jiuzi views this project as an opportunity to assess market appetite for enterprise imaging and data analytics solutions. The initiative may also demonstrate the platform’s adaptability across diverse business contexts. A successful implementation would provide the company with a proof-of-concept for pursuing additional commercial engagements.
Today’s enterprise clients increasingly demand comprehensive platform solutions rather than standalone imaging capabilities or isolated algorithms. Organizations require rapid analytical capabilities, dependable infrastructure, flexible service offerings, and regulatory-compliant data handling. Jiuzi’s strategy centers on meeting these requirements through unified imaging and data processing technologies.
Revenue Projections Hinge on Successful Implementation
Management estimates the initial collaboration phase will generate approximately $1 million in profit contributions. The company regards this figure as an initial benchmark for evaluating its commercialization approach. Positive results could facilitate expansion efforts in both domestic and global markets.
Chief Executive Officer Hongye Zhang indicated the partnership would enable technology validation, operational deployment, and commercial scaling. Leadership also anticipates the project will integrate recognition capabilities with data analytics and strategic decision-making tools. The company intends to prioritize initiatives that deliver quantifiable business outcomes.
Multiple prerequisites must be satisfied before the anticipated profit contribution materializes. The parties must execute the formal agreement, successfully complete implementation, obtain client approval, and receive payment. Ultimate financial impact will also depend on cost management and operational efficiency throughout the project lifecycle.

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Key Takeaways
TeraWulf plans to secure $3.5 billion in debt financing with Morgan Stanley as lead arranger to construct a Kentucky AI data center leased to Anthropic.
The financing structure may feature leveraged loans and high-yield bonds — representing TeraWulf’s inaugural leveraged loan transaction.
Anthropic’s 20-year lease agreement is anticipated to deliver approximately $19 billion in total contracted revenue.
The Kentucky facility’s initial phase is slated to commence operations during late 2027, reaching full operational capacity in early 2028.
Investor concerns persist regarding executive stock dispositions, project expenditures, and the company’s capital structure strategy.
TeraWulf has embarked on a campaign to secure $3.5 billion in debt capital to develop its Justified Data facility located in Hawesville, Kentucky — a project already underpinned by a two-decade lease commitment from Anthropic.
Morgan Stanley is anticipated to spearhead the financing arrangement, which may encompass both leveraged loan instruments and high-yield bond offerings. CFO Patrick Fleury of TeraWulf validated these plans during a Bloomberg interview published Thursday.
WULF shares experienced upward momentum following initial disclosure of the Anthropic partnership. The lease arrangement is forecasted to yield approximately $19 billion in committed revenue throughout its base term.
This financing initiative would represent TeraWulf’s debut in the leveraged loan marketplace. Such loan products generally carry floating interest rates, potentially escalating borrowing expenses should reference rates climb.
Specific terms, interest rate structures, or transaction completion timelines have not been finalized. The capital raise remains contingent on favorable market dynamics, and neither TeraWulf nor Morgan Stanley had released official statements at press time.
Substantial Revenue Over Extended Period
While the $19 billion revenue projection appears impressive, this figure is distributed across two decades rather than representing immediate cash flow. Development expenses, debt service obligations, and operational overhead will substantially reduce TeraWulf’s net proceeds.
The Kentucky installation is engineered to accommodate approximately 401 megawatts of mission-critical computational capacity. Initial operations are scheduled for the latter half of 2027, with complete buildout anticipated by the beginning of 2028.
This $3.5 billion capital raise follows several significant debt issuances. TeraWulf completed a $3.2 billion senior secured notes offering in October 2025 carrying a 7.75% coupon rate with 2030 maturity. An additional $1.3 billion was raised during December 2025.
Proceeds from those previous transactions were allocated toward expanding the company’s Lake Mariner data center facility in New York.
Strategic Pivot from Cryptocurrency Mining to AI Computing
TeraWulf’s first-quarter 2026 financial performance revealed that HPC hosting services now constitute over half of total revenues. The organization has strategically transformed into an energy infrastructure provider concentrated on artificial intelligence and high-performance computing clientele.
Fleury has contested short-seller allegations concerning elevated maintenance expenditures. He contends that clients bear responsibility for servers, processors, and technological refreshes — TeraWulf exclusively delivers power supply and physical facilities.
This operational distinction carries significance for how market participants project ongoing cost structures.
Nevertheless, unanswered questions linger. Investor examination of insider equity transactions has intensified, with Bitcoin mining advisory Blocksbridge Consulting recently highlighting TeraWulf as illustrative of this pattern.
The organization must also finalize Kentucky campus construction before realizing the complete contracted revenue associated with the Anthropic agreement.
Fleury has emphasized that the extended lease framework minimizes the types of recurring upgrade and reconfiguration expenses that conventionally burden data center operators. TeraWulf’s Q1 2026 financial results demonstrated that contracted lease arrangements are already diminishing the company’s vulnerability to Bitcoin price volatility.
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TLDR
On July 9, 2026, ARK Invest purchased 34,080 Meta Platforms shares valued at $20.55 million
The strategic acquisition precedes Meta’s anticipated Q2 earnings announcement scheduled for July 29
ARK divested 10,774 AMD shares worth $5.57 million, marking another consecutive week of position reduction
The firm added 217,896 Circle Internet Group shares spanning three ETFs, totaling $13.96 million
Analysts maintain a Strong Buy consensus on Meta with an average target price of $817.15
Cathie Wood’s investment management firm, ARK Invest, executed several significant portfolio adjustments on Thursday, July 9, 2026. The most substantial transaction involved a $20.55 million stake increase in Meta Platforms through the ARK Innovation ETF.
The purchase encompassed 34,080 Meta shares, positioning ARK ahead of the social media giant’s upcoming second-quarter financial results disclosure on July 29.
Analyst projections suggest Meta will deliver earnings of $7.17 per share alongside revenue totaling $60.19 billion for the reporting period.
Meta’s Artificial Intelligence Initiatives Drive ARK’s Interest
The investment decision follows a series of significant artificial intelligence developments from Meta. The tech giant introduced Muse Spark 1.1, marking its entry into paid AI model offerings, and rolled out innovative AI-powered business tools.
Meta has also announced that Iris, its proprietary AI semiconductor, will enter large-scale production this September. Additionally, the company revealed plans for a substantial capital commitment exceeding $13 billion toward constructing a cutting-edge data center facility in Alberta, Canada.
According to TipRanks, Meta receives a Strong Buy consensus recommendation derived from 34 Buy ratings alongside five Hold ratings. The consensus price target of $817.15 suggests potential upside of approximately 29.4% from present trading levels. Year-to-date, Meta shares have declined 4.2%.
ARK Reduces Semiconductor and Tech Exposure
Concurrently, ARK liquidated 10,774 Advanced Micro Devices shares through its ARKK ETF, representing $5.57 million in value. This transaction extends a recent pattern of AMD position reduction spanning multiple trading sessions.
The investment firm also divested 85,319 Robinhood Markets shares valued at $9.69 million and offloaded 70,154 Roku shares worth $9.77 million.
ARK further reduced its Twist Bioscience holdings by selling 98,776 shares, generating proceeds of $8.83 million.
Beyond the Meta acquisition, ARK expanded its Circle Internet Group exposure by purchasing 217,896 shares distributed across its ARKK, ARKW, and ARKF ETFs, representing a combined investment of $13.96 million.
Additional accumulation included 105,364 Ionis Pharmaceuticals shares for $8.9 million and 544,385 Prime Medicine shares totaling $2.52 million.
Minor acquisitions encompassed 57,462 Generate Biomedicines shares valued at $911,921 and 46,302 Compass Pathways shares worth $646,838.
Following disclosure of ARK’s purchase activity, Meta stock advanced 6.58% on July 10.
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Key Takeaways
Coinbase shares climbed approximately 4.5% to $165.60 during Friday’s session
US Tiger Securities raised its rating on COIN to Buy from Hold, setting a $200 target
Circle secured OCC clearance to launch First National Digital Currency Bank N.A.
Reports suggest the Trump administration is considering a Strategic Bitcoin Reserve framework
Barclays maintained its Underweight stance and lowered its target to $99; CLO Paul Grewal announced his departure effective July 31
Shares of Coinbase are up roughly 4.5% to $165.60 in Friday’s trading session, driven by a favorable analyst call, positive regulatory developments for partner Circle, and renewed speculation about government Bitcoin policy.
On July 7, US Tiger Securities analyst Bo Pei lifted his rating on COIN from Hold to Buy, assigning a $200 price target. Pei’s thesis centers on improved risk-reward dynamics for Bitcoin following a significant pullback, suggesting the current downturn may be nearing its end.
Adding momentum was news from Circle. Circle Internet Group secured clearance from the U.S. Office of the Comptroller of the Currency to open First National Digital Currency Bank N.A., which will operate as Circle National Trust. This regulatory approval marks a significant step forward, placing Circle’s USDC stablecoin operations under federal banking supervision.
Given that Coinbase serves as a major distribution channel for USDC, a more formally regulated stablecoin framework directly benefits COIN.
Bitcoin Reserve Speculation Boosts Sentiment
On July 9, reports surfaced indicating the Trump administration is exploring the mechanics of establishing a Strategic Bitcoin Reserve. Market participants interpret this as a potential long-term demand driver for Bitcoin, and Coinbase — as the leading U.S.-regulated cryptocurrency exchange — would likely gain from increased institutional and governmental interest in the digital asset.
Bitcoin itself has risen roughly 2.2% on the day, hovering around $64,388. This matters for Coinbase since transaction-based revenue accounted for 54% of its Q1 net revenue. Strengthening Bitcoin prices translate directly into higher revenue.
First quarter 2026 performance was challenging — revenue dropped 31% year-over-year to $1.41 billion amid declining trading volumes and crypto valuations. Any Bitcoin price stabilization is therefore critical for the company.
Skepticism Remains Among Some Analysts
Not everyone shares the bullish outlook. Barclays held its Underweight rating and reduced its price target to $99, significantly below current trading levels. This presents a stark contrast to the optimistic stance from US Tiger.
There’s also a notable executive change. Chief Legal Officer Paul Grewal announced he will step down on July 31. VP of Legal Molly Abraham will assume the General Counsel position. Such leadership transitions can introduce uncertainty, though it hasn’t dampened today’s rally.
COIN continues trading well below its 52-week peak of $444.65.
The broader equity market is also showing strength, with the Nasdaq up 1.3% and the S&P 500 adding 0.8%. High-beta stocks like COIN typically see amplified moves during risk-on trading sessions.
Rival Robinhood and other crypto-related equities are also benefiting from the same positive Bitcoin sentiment.
Strategy, holding 818,334 Bitcoin on its corporate balance sheet, is also trading higher. Meanwhile, the iShares Bitcoin Trust ETF (IBIT) remains down 28% year to date, mirroring Bitcoin’s own 28% decline.
Market participants will be monitoring whether Bitcoin can maintain support above $64,000 heading into the weekend, which would sustain momentum in Coinbase and Strategy shares.
Circle’s stock is also drawing attention — the initial rally comes amid substantial insider selling activity that may cap further upside.
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Key Highlights
Shares of WD-40 surged 15% in pre-market trading Friday following impressive fiscal Q3 results
Quarterly revenue increased 24% year-over-year to $195.1 million, significantly surpassing the $172.8 million consensus
Earnings per share reached $2.33, substantially exceeding the Street’s $1.56 projection
Regional performance showed Americas up 29%, Asia-Pacific climbing 24%, and EIMEA gaining 17%
Management elevated full-year EPS outlook to $6.05–$6.35 from previous guidance of $5.75–$6.15
Shares of WD-40 (WDFC) rallied 15% in Friday’s pre-market session following the release of fiscal third-quarter financials that significantly exceeded analyst projections across all key performance indicators.
The company reported quarterly revenue of $195.1 million, marking a 24% increase compared to the same period last year and comfortably beating the analyst consensus of $172.8 million from FactSet.
Earnings per share landed at $2.33, crushing the Street’s $1.56 forecast. Management also increased its full-year EPS outlook to a range of $6.05–$6.35, moving up from the previous guidance of $5.75–$6.15. The consensus estimate had been $6.01.
$WDFC Q3' 26 EARNINGS HIGHLIGHTS
Revenue: $195.1M (Est. $172.8M) ; +24% YoY
Adj. EPS: $2.33 (Est. $1.56) ; +51% YoY
Gross Margin: 56.6%; +40 bps YoY
Operating Income: $40.3M; +47% YoY
FY26 Guide:
Revenue: $675M-$690M (Est. $642.5M)
EPS: $6.05-$6.35… pic.twitter.com/5OZZFZym0F
— Wall St Engine (@wallstengine) July 9, 2026
The revenue growth showed strength across all geographic segments. Sales in the Americas jumped 29%, the Asia-Pacific region posted a 24% gain, and EIMEA — representing Europe, India, the Middle East and Africa — recorded a 17% increase.
Chief Executive Steven Brass attributed the Americas momentum to broader distribution channels, robust e-commerce results, and strategic promotional campaigns.
Brass also called attention to a special edition “King of the Hill” branded product developed through collaborations with Disney (DIS) and Home Depot (HD). The creative origins of that partnership remain an open question.
Worldwide Momentum
What makes this quarter particularly noteworthy is that growth wasn’t driven by a single region. The 24% revenue expansion reflected simultaneous strength across WD-40’s three global operating segments, lending credibility to the sustainability of these results.
The company has also been integrating artificial intelligence into its supply chain operations and back-office functions. This represents the practical, infrastructure-focused application of AI technology — less attention-grabbing than consumer-facing AI products, but potentially offering longer-term competitive advantages.
This quarter’s performance follows an 11% sales increase in the previous period, suggesting the company is building momentum rather than posting a one-time anomaly.
Beating the Tech Rally
While the Nasdaq advanced 1.3% during Thursday’s regular session and AI names captured renewed investor attention, WD-40 was outpacing those high-profile technology stocks on Friday.
Heading into Friday’s session, WDFC had already gained more than 20% year-to-date in 2026, before tacking on another 15% following the earnings announcement.
That performance trajectory is remarkable for a company whose core product is a household lubricant. There are no semiconductors involved, no massive data infrastructure, no multi-billion dollar AI training operations — simply a product with consistent global demand and a management team executing an effective growth strategy.
The stock maintained its sharp gains after the opening bell, continuing to significantly outperform broader market indices.
With revised full-year guidance of $6.05–$6.35 EPS now exceeding analyst expectations, the stock has a positive tailwind as the company moves through the remainder of its fiscal year.
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Key Takeaways
Tesla shares have declined approximately 10% in 2026, currently hovering around $408 after briefly touching $420 on Miami autonomous taxi announcement
Tesla has registered roughly 100 self-driving taxis in Texas versus Waymo’s approximately 600 units
The stock commands a valuation of ~210x projected 2026 earnings — dramatically exceeding the S&P 500’s ~21x multiple
Analyst consensus stands at “Hold” with a $406.87 average price target
Ibex Wealth Advisors reduced its TSLA holdings by 28.9% during the first quarter of 2026
Tesla’s recent trading pattern reveals a frustrating reality for shareholders: the company’s autonomous taxi initiative isn’t scaling quickly enough to support its premium market valuation.
Shares of Tesla began Friday’s session at $406.55. The stock briefly climbed to $420 earlier in the week following the announcement of an unsupervised robo-taxi launch in Miami. However, that momentum faded quickly, with the price retreating to the upper $300s territory that has become familiar ground.
As of Friday’s open, TSLA has surrendered roughly 10% since the beginning of 2026. Throughout the past year, shares have oscillated between a floor of $297.82 and a ceiling of $498.83 — volatility spanning almost $200.
Tesla officially kicked off its autonomous taxi service in Austin, Texas during June 2025. Yet more than twelve months later, the expansion remains disappointingly modest.
Gordon Johnson from GLJ Research highlighted in a Thursday analysis that the actual number of operating autonomous vehicles remains minimal. Tesla’s registration records show approximately 100 robo-taxis throughout Texas. Meanwhile, Alphabet’s Waymo operates close to 600 units within the same market.
This disparity carries significant weight for investors who have built substantial autonomous driving expectations into the stock price.
Premium Pricing Demands Flawless Execution
Tesla’s current valuation sits at approximately 210 times forward 2026 earnings estimates. For context, the broader S&P 500 index trades at roughly 21 times earnings. Even the remainder of the Magnificent Seven technology stocks command around 26 times earnings.
This enormous valuation premium creates minimal margin for disappointment — and current autonomous taxi progress isn’t strong enough to validate the multiple.
During the first quarter of 2026, Tesla reported earnings of $0.41 per share, narrowly surpassing Wall Street’s $0.39 forecast. Quarterly revenue reached $22.39 billion, falling slightly short of the $22.96 billion consensus estimate. Year-over-year revenue growth registered at 15.8%.
Full-year analyst projections call for earnings of $1.29 per share.
Institutional Activity and Wall Street Views
Ibex Wealth Advisors scaled back its Tesla allocation by 28.9% during Q1, divesting 2,661 shares and maintaining a remaining position valued at approximately $2.44 million.
However, not all institutional players are retreating. Kestra Advisory Services expanded its holdings by 11% in the first quarter, while Capstone Capital Management dramatically increased its stake by more than 2,100%, accumulating an additional 13,376 shares.
Institutional investors and hedge funds collectively control 66.20% of outstanding TSLA shares.
Among Wall Street analysts, opinions diverge significantly. Deutsche Bank and Roth Capital maintain buy recommendations. JPMorgan holds a neutral stance. Phillip Securities rates the stock as a sell with a $215 price target. Needham assigns a hold rating.
Aggregating 46 analyst opinions produces a “Hold” consensus with an average price target of $406.87 — essentially matching current trading levels.
Company insiders divested 32,015 shares valued at approximately $12.38 million during the most recent quarter. Notable transactions include CFO Vaibhav Taneja selling 3,000 shares at $450 on May 13, and Director Kathleen Wilson-Thompson offloading 26,409 shares at $378.11 on April 30.
Tesla maintains a market capitalization of $1.53 trillion, featuring a beta coefficient of 1.80 and a trailing P/E ratio of 372.98.
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