TSMC's 49% surge this year has propelled Taiwan to the world's fifth-largest equity market, reshaping how global capital flows into emerging markets. Taiwan’s stock market capitalization has hit $4.95 trillion, edging past India’s $4.92 trillion and claiming the title of the world’s fifth-largest equity market. The only countries ahead of it: the US, mainland China, Japan, and Hong Kong. The engin...
TSMC's 49% surge this year has propelled Taiwan to the world's fifth-largest equity market, reshaping how global capital flows into emerging markets. Taiwan’s stock market capitalization has hit $4.95 trillion, edging past India’s $4.92 trillion and claiming the title of the world’s fifth-largest equity market. The only countries ahead of it: the US, mainland China, Japan, and Hong Kong. The engine behind this leap is exactly who you’d expect. Taiwan Semiconductor Manufacturing Company, the world’s largest chipmaker, has watched its shares climb 49% year-to-date. TSMC now accounts for over 42% of Taiwan’s main stock index. A reshuffling of global capital Foreign investors have pulled roughly $24 billion from Indian equities this year, redirecting that money toward markets perceived as better positioned for the AI wave. Taiwan and South Korea have been the primary beneficiaries. Advertisement Emerging-market stocks have now risen for four consecutive days, with AI-linked chipmakers in those two countries doing most of the heavy lifting. The rally has pushed emerging-market equities to record highs. Taiwan’s ascent through the global rankings has been swift. It overtook the UK in market capitalization back in April 2026, then surpassed Canada shortly after. India was next on the list. Why hardware economies are winning this cycle Hardware-centric markets, those with deep semiconductor supply chains and manufacturing expertise, are capturing a disproportionate share of the money flowing into AI-adjacent investments. Taiwan and South Korea sit at the center of that supply chain. TSMC fabricates the most advanced chips for Nvidia, Apple, and virtually every other company building AI infrastructure. Samsung and SK Hynix in South Korea dominate the memory chip market that AI data centers consume at staggering rates. The $24 billion in outflows from Indian equities tells you everything about where institutional money thinks the next leg of returns will come from. It’s not t...
Patrick Drahi ’s spat with Altice co-founder Armando Pereira has escalated after Swiss courts ordered the seizure of assets following a lawsuit by the latter to reclaim at least 1.2 billion francs ($1.5 billion) he claims he’s owed. The decisions by courts in Geneva and Viège earlier this month come as Drahi is selling significant chunks of his telecom empire in which ex-business partner Pereira a...
Patrick Drahi ’s spat with Altice co-founder Armando Pereira has escalated after Swiss courts ordered the seizure of assets following a lawsuit by the latter to reclaim at least 1.2 billion francs ($1.5 billion) he claims he’s owed. The decisions by courts in Geneva and Viège earlier this month come as Drahi is selling significant chunks of his telecom empire in which ex-business partner Pereira argues he still has a significant stake. A consortium of French phone carriers offered to buy SFR, part of Altice France, in a €20.4 billion deal. The rulings cover a residential property in Cologny, real estate assets in Zermatt, claims held by Drahi against several Swiss companies in liquidation, as well as assets and claims formally held by Drahi’s relatives but considered to “actually belong” to him, Pereira’s lawyers said in a statement. The seizures, which follow requests this month by his legal team, were reported earlier by Liberation. Drahi and Pereira, who co-founded Altice in 2002, have been estranged since a corruption case came to light in 2023. A Portuguese investigation led to the arrest of Pereira, as well as searches and seizures, as prosecutors uncovered a network of suppliers and intermediaries who allegedly received kickbacks linked to Altice contracts in Portugal, France and the US. The investigation, jointly carried with French authorities, is ongoing. Pereira has denied wrongdoing and Altice is considered a victim in the case. Although no longer an Altice shareholder, Pereira had a 20% carried interest in some of Drahi’s ventures, Drahi said on an investor call in August 2023. In July last year, Pereira initiated a civil action in Switzerland seeking a trust account statement related to his carried interest. He also filed a similar complaint in France earlier this month, claiming Pereira owns roughly 20% of Altice USA and Sotheby ’s, and is owed his stake for the sales of Altice Media , SFR datacenters and Teads . The Swiss decisions “confirm what we h...
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. Today's guests: Rachel Ellehuus, RUSI, Director-General; Karen Ward, JPMorgan Asset Management, EMEA Chief Market Strategist; Mohit Jos...
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. Today's guests: Rachel Ellehuus, RUSI, Director-General; Karen Ward, JPMorgan Asset Management, EMEA Chief Market Strategist; Mohit Joshi, Tech Mahindra, CEO & Ilaria Resta, Audemars Piguet, CEO. (Source: Bloomberg)
Key Points Solana is up about 40% during the past 90 days, buoyed by heavy buying from new Solana treasury companies. During the past 12 months, the Solana blockchain ecosystem generated nearly $3 billion in revenue. Solana could one day de-throne Ethereum as the preeminent smart contract blockchain network. 10 stocks we like better than Solana › When it comes to cryptocurrency investing, Bitcoin ...
Key Points Solana is up about 40% during the past 90 days, buoyed by heavy buying from new Solana treasury companies. During the past 12 months, the Solana blockchain ecosystem generated nearly $3 billion in revenue. Solana could one day de-throne Ethereum as the preeminent smart contract blockchain network. 10 stocks we like better than Solana › When it comes to cryptocurrency investing, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) typically get all the headlines. And for good reason. Both are up about 30% for the year, and both should be core components of any well-diversified crypto portfolio. But if you only have $500 to spend on crypto right now, there might be a better option: Solana (CRYPTO: SOL). The sixth-biggest cryptocurrency in the world is up about 40% during the past 90 days, and is suddenly gaining a lot of attention due to the likely introduction of spot crypto exchange-traded funds (ETFs). Here's why you should consider Solana to be the next crypto in your portfolio. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Is Solana the heir apparent to Ethereum? Soon after it launched back in March 2020, Solana immediately made headlines as a potential Ethereum killer. Just like Ethereum, Solana is a smart contract blockchain network with a very diversified blockchain ecosystem. But there's one key difference: Solana is blazingly fast, and much cheaper to use. The total throughput capacity on Solana is now more than 100,000 transactions per second. By way of comparison, the core Ethereum blockchain struggles to process 30 transactions per second. What's really exciting is that all of that amazing throughput capacity is now being put to work, generating a surprising amount of revenue for Solana blockchain ecosystem partners. According to investment firm 21Shares, Solana generated more than $2.85 billion in revenue during the past 12 months. This revenue came from a var...
Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha More on AutoZone AutoZone Q3 Preview: Watching For Spring Tune-Ups AutoZone: Uncertainty Presents An Opportunity (Rating Upgrade) AutoZone Q2 Earnings: New Store Openings Drive Growth, But Weak Demand Weighs AutoZone GAAP EPS of $38.07 beats by $1.90, revenue of $4.84B misses by $20M AutoZone Q3 2026 Earnings Previ...
Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha More on AutoZone AutoZone Q3 Preview: Watching For Spring Tune-Ups AutoZone: Uncertainty Presents An Opportunity (Rating Upgrade) AutoZone Q2 Earnings: New Store Openings Drive Growth, But Weak Demand Weighs AutoZone GAAP EPS of $38.07 beats by $1.90, revenue of $4.84B misses by $20M AutoZone Q3 2026 Earnings Preview
Uzbekistan, one of the world’s largest gold producers, has resumed full scale gold exports in April after a half-year pause. The nation exported about $1.5 billion of non-monetary gold in the first four months of the year, the National Statistics Committee reported Tuesday, indicating that most of it was sold in April. The country, which mines about 130 tons of gold a year, effectively stopped exp...
Uzbekistan, one of the world’s largest gold producers, has resumed full scale gold exports in April after a half-year pause. The nation exported about $1.5 billion of non-monetary gold in the first four months of the year, the National Statistics Committee reported Tuesday, indicating that most of it was sold in April. The country, which mines about 130 tons of gold a year, effectively stopped exports after September, while its central bank emerged as one of the world’s biggest buyers of the precious metal. Yellow metal exports were zero in January and February this year and totaled just $30 million in March, according to earlier reporting. At the same time the central bank’s reserves fell by about 100,000 troy ounces in April, signaling sales, according to reserve statistics disclosed on May 8. Uzbekistan’s exports resumed even as the US-Israel war with Iran weighs on the global economic outlook, though Central Asian economies have so far appeared relatively resilient to the shocks. Gold remains a key buffer for Uzbekistan’s economy and a major source of export and budget revenue. The metal’s prices hit a record this year and averaged about $4,800 per ounce this year. Read: Russia Sold Over $4 Billion of Gold From Reserves This Year Russia, another major global gold producer, has also accelerated its gold sales.
STORY: From Ferrari's electric bet to Samsung's major union deal, this is Tech Weekly. :: Tech Weekly Ferrari presented its first fully electric car. The Luce has a range of over 300 miles and features four electric motors which help it reach a top speed of around 200mph. It marks a high-stakes shift as the sports car maker gambles new consumers will shift to high-tech luxury EVs. The Luce is aime...
STORY: From Ferrari's electric bet to Samsung's major union deal, this is Tech Weekly. :: Tech Weekly Ferrari presented its first fully electric car. The Luce has a range of over 300 miles and features four electric motors which help it reach a top speed of around 200mph. It marks a high-stakes shift as the sports car maker gambles new consumers will shift to high-tech luxury EVs. The Luce is aimed at families with deep pockets with a price tag of $640,000. Nvidia CEO Jensen Huang signaled he sees major long-term opportunities for the firm in China. That's despite tensions over a tech race between Washington and Beijing. Huang spoke to reporters in Taipei, ahead of a trade show. He was asked whether China was part of a $200-billion market forecast he mentioned during a recent Nvidia earnings call. "I would think so. $200 billion is not today, it’s someday. And it includes all the data centers, CPUs. This is a new market for us." Lenovo reported a better-than-expected 27% jump in quarterly revenue The tech firm's tablet and smartphone division saw revenue rise by close to a quarter - it's highest growth rate in five years. Lenovo said overall revenue for the period to the end of March jumped $21.6 billion - above analyst estimates. Investors liked what they heard and shares soared 15% soon after the update. Texas sued WhatsApp and its parent firm Meta. The state said the tech firm misled consumers over the messaging app’s encryption and privacy standards. The lawsuit says users are given false assurance that their messages are encrypted. A Meta spokesman called the allegations “false”, and said WhatsApp can't access people’s encrypted messages. Samsung shares surged after it reached a deal with its South Korean union to avoid an 18-day strike. 48,000 workers could have taken part in the proposed industrial action. One union source said a memory chip worker with a base salary of about $53,000 is expected to receive a bonus of around $416,000. There was relief in Seoul...
J Studios/DigitalVision via Getty Images Investment environment European equities fell in the first quarter of 2026, mainly due to a sharp sell-off in March amid the fallout from the hostilities in the Middle East. Oil and gas prices jumped as the conflict damaged energy infrastructure across the region and disrupted shipping through the Strait of Hormuz. European equities had performed well earli...
J Studios/DigitalVision via Getty Images Investment environment European equities fell in the first quarter of 2026, mainly due to a sharp sell-off in March amid the fallout from the hostilities in the Middle East. Oil and gas prices jumped as the conflict damaged energy infrastructure across the region and disrupted shipping through the Strait of Hormuz. European equities had performed well earlier in the period, overcoming a number of geopolitical flashpoints and investor concerns about artificial intelligence (AI) to deliver gains in January and February. Markets retreated in March, as the combination of rising energy costs and potentially slowing growth reignited stagflation fears, although equities found late-period support from hopes of a near-term resolution to the conflict. Eurozone annual inflation slowed to a 15-month low of 1.7% in January, before leaping to a 14-month high of 2.5% in March, largely due to the rise in energy prices. Eurozone gross domestic product (GDP) expanded by 0.2% over the fourth quarter, down from 0.3% growth over the third quarter. As expected, the European Central Bank left policy rates unchanged, but highlighted heightened uncertainty stemming from the Middle East conflict. While policymakers maintained a cautious tone, markets increasingly priced in the risk that persistent energy-driven inflation could force renewed tightening. Portfolio review The fund had a difficult start to the year, with relative underperformance largely concentrated in January and February, before performance stabilized following the outbreak of hostilities in the Middle East. European equities experienced unusually high stock-level dispersion this quarter, driving a highly polarized market and amplified stock-specific outcomes. Against this backdrop, stock selection has been the primary driver of relative performance. In line with the market's unusually wide dispersion, the portfolio has seen both notable winners and significant detractors; over a relat...
“我敢断言：把 AI Agent 引入软件开发，将会成为这个领域历史上代价最惨重的错误之一。” 说出这句话的人是 George Hotz。17 岁那年他第一个破解了 iPhone，后来又逆向工程了 PlayStation 3——Sony 因此把他告上了法庭。再后来他创办了 comma.ai，成了自动驾驶领域最不按常理出牌的人。 过去六个月，Hotz 把市面上叫得上名字的 AI 编程 Agent 全...
“我敢断言：把 AI Agent 引入软件开发，将会成为这个领域历史上代价最惨重的错误之一。” 说出这句话的人是 George Hotz。17 岁那年他第一个破解了 iPhone，后来又逆向工程了 PlayStation 3——Sony 因此把他告上了法庭。再后来他创办了 comma.ai，成了自动驾驶领域最不按常理出牌的人。 过去六个月，Hotz 把市面上叫得上名字的 AI 编程 Agent 全试了一遍。他用它们写过 tinygrad 的代码，用它们逆向过一个 USB 转 PCIe 芯片。他换过不同模型、不同 harness，也试过不同提示词。 上周日，他把自己的结论写成一篇博客，标题叫《永恒的 Sloptember》，认为大规模采用人工智能编码 Agent 将以灾难告终，或者至少接近灾难。 Hotz 的核心论点很明确：Agent 不是程序员。“Agent 不会编程，而且我们意识到它们不会编程这件事，正在变得越来越难。”他写道，“它们是一种高度复杂的统计模型，被设计出来模仿‘编程’这件事的分布。它们生成的东西就是坏的，只是坏得越来越隐蔽、越来越难查出来。而这，正是一个越来越精确的统计模型会带来的结果。” 1 AI 编程的两极：Karpathy 看见革命，Hotz 看见灾难 五天前，AI 圈最知名的研究者之一 Andrej Karpathy 刚刚加入 Anthropic，并公开表示一个明确的观点：AI Agent 已经彻底改变了软件开发。 现在，这两个人代表了行业尚未解决的一场争论的两个极端，而且双方都有足够的可信度来支撑自己的立场。 Hotz 并不是一开始就这么确信。他花了六个月时间，在真实项目中使用 Agent：包括为他的开源深度学习框架 Tinygrad 写部分代码，以及对一个 USB-PCIe 芯片做完整的固件逆向工程。但最后他的结论是，每一次他都本可以靠手工“做得更好、更快”。他观察到的模式是：“Agent 会把所有进展都提前堆在前面，然后递给你一个老虎机拉杆，让你不断去拉，指望它把最后的打磨做完。但它总是差那么一点。” Hotz 预料到了最显而易见的反驳： 在有人跳出来说“是你用错了”之前，我先说：不同模型、不同 harness、不同提示词，我都试过。问题不在这里。那些说这种话的人，大概也会对老虎机说同样的话：你看，拿到一个樱桃之后就应该押五条线，难怪你...
Todd Asset Management LLC cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,859 shares of the enterprise software provider's stock after selling 40,463 shares during the period. Todd Asset Management LLC's holdings in Oracle were wor...
Todd Asset Management LLC cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,859 shares of the enterprise software provider's stock after selling 40,463 shares during the period. Todd Asset Management LLC's holdings in Oracle were worth $18,879,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors have also made changes to their positions in the company. FSA Wealth Management LLC bought a new position in Oracle in the third quarter valued at approximately $28,000. Mpwm Advisory Solutions LLC grew its holdings in Oracle by 76.9% during the third quarter. Mpwm Advisory Solutions LLC now owns 115 shares of the enterprise software provider's stock valued at $32,000 after purchasing an additional 50 shares during the period. Turning Point Benefit Group Inc. bought a new stake in shares of Oracle in the 3rd quarter valued at $35,000. HFM Investment Advisors LLC increased its holdings in shares of Oracle by 290.9% in the fourth quarter. HFM Investment Advisors LLC now owns 129 shares of the enterprise software provider's stock worth $25,000 after acquiring an additional 96 shares in the last quarter. Finally, Collier Financial acquired a new stake in Oracle during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 42.44% of the company's stock. Get Oracle alerts: Sign Up Oracle Trading Up 0.0% Shares of ORCL opened at $192.13 on Tuesday. Oracle Corporation has a 52-week low of $134.57 and a 52-week high of $345.72. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.35 and a current ratio of 1.35. The business's fifty day moving average is $166.93 and its 200-day moving average is $179.05. The firm has a market cap of $552.58 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 1.83 and a beta of 1.55. Ora...
Melius Research raised the firm's price target on AMD (AMD) to $540 from $500 and keeps a Buy rating on the shares. While stating that "nothing really emerged as incrementally good from Trump going to China," the analyst feels "incrementally good" about memory and AI semiconductor makers, raising long-term estimates and targets for all of the firm's Buy-rated "bottleneck stocks, including Micron (...
Melius Research raised the firm's price target on AMD (AMD) to $540 from $500 and keeps a Buy rating on the shares. While stating that "nothing really emerged as incrementally good from Trump going to China," the analyst feels "incrementally good" about memory and AI semiconductor makers, raising long-term estimates and targets for all of the firm's Buy-rated "bottleneck stocks, including Micron (MU), Sandisk (SNDK), AMD, Intel (INTC), and Marvell (MRVL), as well as Hold-rated Qualcomm (QCOM). The firm continues to believe that semis take market cap, or at least upside, from traditional software companies and non-semis in the Mag 7 long-term, the analyst added.
Dell Technologies rose 4.2% in the run-up to the PC and server maker’s earnings on Thursday. Satellite company EchoStar which Wall Street sees as an easy way to get in on the looming SpaceX initial public offering, gained 4.6%.
Dell Technologies rose 4.2% in the run-up to the PC and server maker’s earnings on Thursday. Satellite company EchoStar which Wall Street sees as an easy way to get in on the looming SpaceX initial public offering, gained 4.6%.
primeimages/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify Stock futures rise on hopes of U.S.-Iran conflict resolution. (00:14) Uber ( UBER ) weighs higher bid for Delivery Hero ( DLVHF ) after €11.5B offer rebuffed, FT reports. (01:08) Wix ( WIX ) set to ax a fifth of staff in post-earnings shockwave. (01:40) This is an abridged transcript. Stock index futures a...
primeimages/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify Stock futures rise on hopes of U.S.-Iran conflict resolution. (00:14) Uber ( UBER ) weighs higher bid for Delivery Hero ( DLVHF ) after €11.5B offer rebuffed, FT reports. (01:08) Wix ( WIX ) set to ax a fifth of staff in post-earnings shockwave. (01:40) This is an abridged transcript. Stock index futures are higher as investors assess the possibility of a resolution in the U.S.-Iran conflict, despite fresh strikes by Washington. S&P 500 futures ( SPX ) advanced 0.6% to 7,520, while Nasdaq 100 futures ( US100:IND ) gained 0.6% to 29,674. Dow futures ( INDU ) climbed 0.47% to 50,815. U.S. forces carried out what they described as “self-defense” strikes in southern Iran early Tuesday, with U.S. Central Command stating that the operation was intended to “protect our troops from threats posed by Iranian forces.” Crude oil is down 3.9% at $92. Bitcoin is down 0.9% at $76,000. Gold is down 1.1% at $4,517. The FTSE 100 is up 0.6% and the DAX is down 1%. Wix ( WIX ) is set to slash around 1,000 jobs in the coming months, or approximately 20% of its workforce. If this happens, it would be the largest layoff in its history. This information is from multiple Israeli media outlets. The reports come just a week after the website-building company missed heavily on Q1 earnings , leading shares to lose a third of their value in the subsequent session. It was the latest spate of bad news for Wix ( WIX ), whose stock is down nearly 50% since the beginning of the year amid growing fears of the SaaSpocalypse . Uber’s ( UBER ) board met on Saturday to discuss raising its offer for Delivery Hero after a major shareholder rebuffed Uber's bid. The current bid would value the German food delivery group at over 11.5 billion euros ($13.39B). The Financial Times reported on Sunday that the board held a meeting in which it discussed the status of the takeover bid. Delivery Hero ( DLVHF ) confirmed on...
Tim Robberts/DigitalVision via Getty Images Last week, Equity Residential ( EQR ) and AvalonBay Communities ( AVB ) announced a blockbuster merger of equals that would take two of the leading legacy apartment REITs and combine them. As you can see below, neither have been particularly strong performers over the past year with AVB losing 2% and EQR returning 2%. The sector has struggled with challe...
Tim Robberts/DigitalVision via Getty Images Last week, Equity Residential ( EQR ) and AvalonBay Communities ( AVB ) announced a blockbuster merger of equals that would take two of the leading legacy apartment REITs and combine them. As you can see below, neither have been particularly strong performers over the past year with AVB losing 2% and EQR returning 2%. The sector has struggled with challenging rental inflation though their core markets have outperformed the Sun Belt. I last covered AVB in January , rating the stock a “hold,” and since then its 3% gain has lagged the market’s 8% rally. I rated EQR a “buy” in January , and it’s 10% return is in-line with the market. With this surprising news, now is a good time to revisit both and determine how to proceed. Seeking Alpha Under the terms of the deal , AVB shareholders will receive 2.793 shares of EQR shares of each share of AVB they own. Legacy AVB holders will own 51% of the company, and with this being a true “merger of equals” rather than an acquisition, there is no real premium that either side is receiving with this deal being valued within 1% of where shares were trading prior to announcement. The combined company will continue with EQR’s $2.81 dividend. EQR has a 4.2% dividend yield whereas AVB yields 3.8%, so AVB holders will have higher dividend income going forward. As you can see below, the company will be focused in legacy markets and not Sun Belt ones. NY, LA, and San Francisco metro areas will be the majority of its business. Expansion markets are about 10% of NOI. It is worth noting that while AVB/EQR will have 75% more units than any other publicly traded REIT with about 180k, they still will only own 2% of rental units. With ~135 million households in this country, 180k units is a very small share of the total housing stock AvalonBay As I have written about previously, rental inflation has been very sluggish over the past year, falling 1.7%. Slowing real income growth and limited immigration ha...