IREN ( IREN ) said it has closed a $3.65B investment-grade GPU financing facility to support the delivery of its AI Cloud contract with Microsoft ( MSFT ). The package includes a $2.1B U.S. private placement and a $1.55B delayed-draw term loan, with the financing backed by the company's GPUs and related contracted cash flows. Together with customer prepayments, the facility funds $5.59B of the $5....
IREN ( IREN ) said it has closed a $3.65B investment-grade GPU financing facility to support the delivery of its AI Cloud contract with Microsoft ( MSFT ). The package includes a $2.1B U.S. private placement and a $1.55B delayed-draw term loan, with the financing backed by the company's GPUs and related contracted cash flows. Together with customer prepayments, the facility funds $5.59B of the $5.81B (~96%) of GPU capex under the Microsoft contract at an average financing cost of 3.31% and strengthens IREN’s capital structure as the company continues to execute on its expansion to 480MW of AI Cloud capacity by the end of 2026. Goldman Sachs ( GS ) and J.P. Morgan ( JPM ) served as joint lead managers and arrangers. The offering included participation from a broad group of global financial institutions, asset managers and insurance investors. More on IREN Limited IREN: Software Capabilities Expand, But Financial Strains Loom Large IREN: The Pricing Power Breadcrumbs Are Starting To Add Up Why IREN Limited Could Outperform Nebius Now IREN signs $1.6B deal with Dell to deploy Blackwell systems; ARR seen rising to $4.4B Russell 3000 tech shuffle: CoreWeave set to enter while MicroVision exits
The artificial-intelligence trade locked in fresh gains on Monday, allowing global equities to shrug off a rebound in oil prices as the US and Iran remained deadlocked over a peace deal. Ozan Tarman, Global Macro Vice Chair at Deutsche Bank joined Stephen Carroll and Lizzy Burden to discuss the the moves in stocks as where Bond yields go from here. (Source: Bloomberg)
The artificial-intelligence trade locked in fresh gains on Monday, allowing global equities to shrug off a rebound in oil prices as the US and Iran remained deadlocked over a peace deal. Ozan Tarman, Global Macro Vice Chair at Deutsche Bank joined Stephen Carroll and Lizzy Burden to discuss the the moves in stocks as where Bond yields go from here. (Source: Bloomberg)
VitalyEdush/iStock Editorial via Getty Images MGM ( MGM ) reported earnings towards the end of April and while results were mixed, the stock has recently been off to the races. This has been driven by two key sell-side upgrades , from Truist and JP Morgan, while the gross gaming revenue ("GGR") data continues to improve, endorsing the positive exit rate that management spoke to in Las Vegas on the...
VitalyEdush/iStock Editorial via Getty Images MGM ( MGM ) reported earnings towards the end of April and while results were mixed, the stock has recently been off to the races. This has been driven by two key sell-side upgrades , from Truist and JP Morgan, while the gross gaming revenue ("GGR") data continues to improve, endorsing the positive exit rate that management spoke to in Las Vegas on the call. While earrings themselves for Q1 were somewhat lackluster, the exit rate shows signs of life for the Las Vegas Strip, which supports continued upside for the stock. Key Takeaways from Earnings MGM reported earnings on April 29. The company actually missed on EPS for the quarter by four cents, but had a $78 million top line beat, posting revenue of $4.45 billion, up 4.2% y/y. The earnings miss was largely driven by one-time items related to self-insurance as well as a difference in branded fee income for the Macau operations. The quarter showed Las Vegas Strip revenues that were flat to the prior year. EBITDAR was down 8% y/y to $749 million as the margin suffered by nearly 292 basis points. China was the bright spot in the quarter up 9% in revenue to $1.12 billion, but EBITDAR still fell 4% y/y to $273 million as the margin came under pressure by 342 basis points. Regional rounded out the EBITDAR declines being -7%, despite a 2% uptick in revenue. The only segment that actually showed an improvement in EBITDAR was actually MGM Digital (this does not include the BetMGM joint venture with Entain ( GMVHF )) . This segment still reports an EBITDAR loss at -$26 million for the quarter; however, this was better than last year's decline of $34 million. Investor Presentation Source: Investor Presentation The iGaming operations continue to be very strong as the business approaches a $2 billion annual revenue run rate. For what's attributable to MGM Digital, this business grew 43% y/y to $183 million and is continuing to become a more important part of the overall business. In...
The United States market has experienced a positive trend, with a 1.6% increase over the last week and a substantial 28% rise over the past year, while earnings are projected to grow by 17% annually. In this context, identifying high growth tech stocks involves looking for companies that demonstrate strong potential for future expansion and innovation, aligning with current market optimism.
The United States market has experienced a positive trend, with a 1.6% increase over the last week and a substantial 28% rise over the past year, while earnings are projected to grow by 17% annually. In this context, identifying high growth tech stocks involves looking for companies that demonstrate strong potential for future expansion and innovation, aligning with current market optimism.
Xage Security has announced its enhanced integration with NVIDIA's cutting-edge AI solutions, including the NVIDIA DOCA security and Vera BlueField-4 STX platform, to bolster security measures within AI factory environments. The collaboration aims to provide line-speed policy enforcement and comprehensive visibility for models, data, and AI agents, allowing organizations to implement robust zero-t...
Xage Security has announced its enhanced integration with NVIDIA's cutting-edge AI solutions, including the NVIDIA DOCA security and Vera BlueField-4 STX platform, to bolster security measures within AI factory environments. The collaboration aims to provide line-speed policy enforcement and comprehensive visibility for models, data, and AI agents, allowing organizations to implement robust zero-trust policies without compromising performance. By leveraging NVIDIA's hardware capabilities,...
The US could potentially offer a dollar swap line to Turkey ahead of the election, a move that will bolster hard-currency reserves and improve market confidence, according to Jefferies International strategist Durukal Gun . Such a backstop from the Trump administration — similar to what was offered last year to Argentina — would reduce pressure on policymakers as they seek to manage lira weakness,...
The US could potentially offer a dollar swap line to Turkey ahead of the election, a move that will bolster hard-currency reserves and improve market confidence, according to Jefferies International strategist Durukal Gun . Such a backstop from the Trump administration — similar to what was offered last year to Argentina — would reduce pressure on policymakers as they seek to manage lira weakness, contain inflation expectations and discourage dollarization, Gun said in a report on Monday. It could also help lower Turkish credit default swaps, which have risen in recent months as investors priced more financial risks. “We see a plausible scenario” in which Turkey receives an FX swap line from the US “ahead of the elections a la Argentina,” Gun said, without elaborating. Turkish and US officials have not publicly discussed the possibility of a swap line. Turkey’s election is slated for mid-2028, but there’s speculation from analysts and some lawmakers that President Recep Tayyip Erdogan may call an early snap vote in order to facilitate a third term for himself. The US Treasury support package for Argentina involved a $20 billion currency-swap framework with the country’s central bank and direct US purchases of pesos. The measures were designed to stabilize markets and head off a run on the peso before midterm elections, and were different to conventional swap lines that the Federal Reserve extends to allies during times of market stress. Gun’s suggestion of a dollar swap line comes as foreign investors grow increasingly concerned about their lira positions, on fears that high oil prices will worsen balance-of-payments pressures and hurt economic growth. Data on Monday showed the economy grew just 0.1% in the first quarter of the year, cooling from 0.4% in the prior three months. Political risks have also resurfaced, following a court ruling ousting the leader of the main opposition party. Read more: BofA, Barclays Ditch Popular Lira Trade as Oil Shock Hits Turkey To ...
Over the last 7 days, the United States market has risen by 1.6%, contributing to a substantial 28% increase over the past year, with earnings expected to grow by 17% annually in the coming years. In this favorable environment, growth companies with high insider ownership can be particularly appealing as insiders often have unique insights into their company's potential and are willing to invest a...
Over the last 7 days, the United States market has risen by 1.6%, contributing to a substantial 28% increase over the past year, with earnings expected to grow by 17% annually in the coming years. In this favorable environment, growth companies with high insider ownership can be particularly appealing as insiders often have unique insights into their company's potential and are willing to invest alongside other shareholders.
Check out the companies making the biggest moves premarket: Nvidia , Microsoft — The hyperscalers were rising after Nvidia, in a collaboration with Microsoft, revealed a new processor for personal computers . Nvidia was up 2%, while Microsoft was rising nearly 4% in premarket trading. Dell , HP , Arm — Derivatives of Nvidia's computer chip announcement were also jumping on the news. Dell and HP, w...
Check out the companies making the biggest moves premarket: Nvidia , Microsoft — The hyperscalers were rising after Nvidia, in a collaboration with Microsoft, revealed a new processor for personal computers . Nvidia was up 2%, while Microsoft was rising nearly 4% in premarket trading. Dell , HP , Arm — Derivatives of Nvidia's computer chip announcement were also jumping on the news. Dell and HP, which are set to manufacture computers featuring the new chip, rose 1.5% and more than 3.5%, respectively. Arm, whose technology was used by Nvidia to develop the new chip, was surging 14.5%. Qualcomm , Intel , Advanced Micro Devices — As Nvidia rose, its chipmaking competitors fell. Qualcomm tumbled 9.5%, while Intel shed more than 6.5%. Advanced Micro Devices was off more than 4% too. Taylor Morrison Home — Shares surged almost 23% after Berkshire Hathaway agreed to acquire the company for $6.8 billion. Berkshire CEO Greg Abel called Taylor Morrison a best-in-class homebuilder and said the addition to the company's portfolio will help deliver homeownership to more Americans. Berkshire shares were slightly lower. Yum Brands — The restaurant operator was up 1.5% after Bloomberg News reported that the company is in talks to sell its Pizza Hut brand to LongRange Capital. Summit Therapeutics — The stock rose 2.5% after a late-stage Chinese trial showed the company's experimental lung cancer drug reduced the risk of death by 34%. While the phase 3 trial was only in China, a global phase 3 trial is also currently being conducted. International Business Machines — Shares jumped 13% after Barclays initiated coverage at an overweight rating. Analysts said quantum computing is set to be the next major compute paradigm, and IBM's strategy on the technology is compelling. Melius Research also hiked its price target on IBM. Software stocks — The software rally gained steam in the first trading day of June as the iShares Expanded Tech-Software Sector ETF (IGV) rose 4.5% in premarket trad...