Ford Motor Company (F +7.61%) might be in love with the idea of Europe being another pillar of profits for the company, but the results simply haven't been there for a long time. Ford has done business in Europe for over 100 years, and that holds weight, but since 2000, the automaker has also required four massive restructurings. Each time, the company has fallen short of its turnaround expectatio...
Ford Motor Company (F +7.61%) might be in love with the idea of Europe being another pillar of profits for the company, but the results simply haven't been there for a long time. Ford has done business in Europe for over 100 years, and that holds weight, but since 2000, the automaker has also required four massive restructurings. Each time, the company has fallen short of its turnaround expectations, and far from turning Europe into a profit engine. But it's important that investors separate the two parts of its European business, because one might fail again, but the other needs to remain dominant for the bottom line. Passenger vs. commercial Ford's passenger vehicles have struggled with years of market-share declines and profitability in Europe, while the company's Ford Pro commercial vehicles have thrived and carried the broader business. On the passenger side of things, Ford plans to launch a handful of vehicles designed with a rally-like inspiration that combines off-road and on-road performance. A Bronco multi-energy compact SUV will be one of the new vehicles, followed by a new small electric hatchback that could remind some people of the Fiesta and Focus that previously won volume in Europe. There will be a small electric SUV and two multi-energy crossovers -- all under the same rally-inspired theme and branding. That may seem promising, and the branding could help Ford find a path forward in passenger vehicles, but it will have to fend off rapidly expanding low-cost Chinese vehicles. But let's focus on Ford's true gem in Europe, its commercial vans. Expand NYSE : F Ford Motor Company Today's Change ( 7.61 %) $ 1.04 Current Price $ 14.71 Key Data Points Market Cap $54B Day's Range $ 13.78 - $ 14.80 52wk Range $ 9.88 - $ 14.94 Volume 1.8M Avg Vol 56.4M Gross Margin 7.81 % Dividend Yield 4.39 % The moneymaker "Ford Pro is the backbone of our European business," said Jim Baumbick, president of Ford in Europe, in a press release. "We don't just sell vans and pic...
US Lawmakers Renew Strategic Bitcoin Reserve Push With ARMA Bill Authored by Brayden Lindrea via CoinTelegraph.com, US lawmakers have renewed efforts to codify a US strategic Bitcoin reserve with a new bipartisan bill on Thursday that seeks to acquire around 1 million Bitcoin over five years. The American Reserve Modernization Act of 2026 would establish a Strategic Bitcoin (BTC) Reserve and Digit...
US Lawmakers Renew Strategic Bitcoin Reserve Push With ARMA Bill Authored by Brayden Lindrea via CoinTelegraph.com, US lawmakers have renewed efforts to codify a US strategic Bitcoin reserve with a new bipartisan bill on Thursday that seeks to acquire around 1 million Bitcoin over five years. The American Reserve Modernization Act of 2026 would establish a Strategic Bitcoin (BTC) Reserve and Digital Asset Stockpile for other federally held cryptocurrencies, which would be held by the US Treasury Department, said the bill’s sponsor, Representative Nick Begich. ARMA, sponsored by 16 members of Congress, builds on the BITCOIN Act, which was introduced in July 2024 and updated in March 2025. Source: Nick Begich In an interview on Sunday, Patrick Witt, of the President’s Council of Advisors for Digital Assets, referred to ARMA as “Version 2” of the BITCOIN Act and said the White House has spent considerable time examining the legal implications of a Bitcoin reserve. “It's a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets.” The push for a federal policy comes as the US currently holds 328,372 Bitcoin worth more than $25.5 billion — the most of any nation-state — but has sold portions of those holdings through court-ordered actions over the years. “The US is already one of the largest holders of Bitcoin in the world. But Congress has never set a federal policy on what to do with that asset,” said US Representative Jared Golden, one of the 16 co-sponsors of the bill. Under ARMA, Bitcoin must be held for a minimum of 20 years unless it is sold to reduce America’s national debt, which topped $39 trillion on Wednesday. Like the BITCOIN Act, ARMA also seeks to acquire up to 1 million Bitcoin over five years through budget-neutral strategies, meaning it would avoid using taxpayer money. US Representative Mike Carey argued that as digital assets continue to grow in importance, the bill could strengthen America’s long-term econom...
Yesterday, as you've probably heard, The Wall Street Journal reported on a Trump Administration plan to award $2 billion in grants to nine quantum computing companies -- recent SPAC IPO Infleqtion (INFQ +18.91%) among them -- and to take equity stakes in the companies. Infleqtion started moving one day before the announcement, then rocketed higher yesterday -- and higher again today. Up 18.7% thro...
Yesterday, as you've probably heard, The Wall Street Journal reported on a Trump Administration plan to award $2 billion in grants to nine quantum computing companies -- recent SPAC IPO Infleqtion (INFQ +18.91%) among them -- and to take equity stakes in the companies. Infleqtion started moving one day before the announcement, then rocketed higher yesterday -- and higher again today. Up 18.7% through 11:30 a.m. ET, Infleqtion shares have gained 64% in just three days of trading, and investors are wondering: Is any price too high for this quantum computing stock? Now it's official Shortly after WSJ story broke, the U.S. Commerce Department confirmed that not only does it plan to award grants, but it has in fact already signed letters of intent to do so. Operating under the CHIPS and Science Act, Commerce will "support and accelerate critical research and manufacturing of technologies for the quantum ecosystem to ensure continued United States leadership and national security." Two quantum foundries, Globalfoundries (GFS +6.75%) and International Business Machines (IBM +1.81%), will receive $375 million and $1 billion, respectively. Infleqtion and five others will receive $100 million apiece, and a ninth company will receive $38 million. Each of the seven non-foundry recipients will focus on specific technologies needed to build quantum computers. Infleqtion in particular will focus on optical systems, readouts, and error correction in neutral-atom-based quantum computers. Expand NYSE : INFQ Infleqtion Today's Change ( 18.91 %) $ 2.78 Current Price $ 17.48 Key Data Points Market Cap $3.2B Day's Range $ 15.75 - $ 18.20 52wk Range $ 8.52 - $ 21.28 Volume 1.6M Avg Vol 7.8M Gross Margin 21.04 % What does this mean for Infleqtion? Will $100 million suffice to make Infleqtion stock a winner? It sure can't hurt. One of the smaller and more parsimonious quantum stocks, Infleqtion has been lowering its cash burn rate steadily, and consumed barely $26 million last year. $100 mi...
Amazon.com (NasdaqGS:AMZN) is rolling out 30 minute "Amazon Now" delivery for groceries and essentials to dozens of U.S. cities, targeting tens of millions of customers. The company is launching Alexa for Shopping, using generative AI to support product discovery, comparisons, and checkout inside its retail ecosystem. Amazon is expanding its use of warehouse automation, with more than 1,000,000 ro...
Amazon.com (NasdaqGS:AMZN) is rolling out 30 minute "Amazon Now" delivery for groceries and essentials to dozens of U.S. cities, targeting tens of millions of customers. The company is launching Alexa for Shopping, using generative AI to support product discovery, comparisons, and checkout inside its retail ecosystem. Amazon is expanding its use of warehouse automation, with more than 1,000,000 robots in operation and new work on humanoid robotics. Amazon.com (NasdaqGS:AMZN) sits at the center of e commerce, logistics, and cloud computing, and these moves push its retail and fulfillment operations further toward ultra fast delivery. Thirty minute "Amazon Now" delivery and AI driven shopping tools arrive as competition in online groceries, same day delivery, and personalized retail experiences remains intense across traditional grocers and delivery platforms. For investors tracking long term trends in e commerce, logistics technology, and AI driven user experiences, these initiatives highlight where Amazon is focusing product and infrastructure investment. The scale up of automation and robotics, combined with faster delivery and AI assisted shopping, may influence how consumers split spending between online and offline channels and how retailers think about supply chain and warehouse design over time. Stay updated on the most important news stories for by adding it to your or . Alternatively, explore our to discover new perspectives on Amazon.com. NasdaqGS:AMZN Earnings & Revenue Growth as at May 2026 Advertisement Quick Assessment ✅ Price vs Analyst Target : At US$268.46, the stock trades about 14% below the US$312.63 analyst price target. : At US$268.46, the stock trades about 14% below the US$312.63 analyst price target. ✅ Simply Wall St Valuation : Simply Wall St estimates the shares are trading 32.7% below fair value. : Simply Wall St estimates the shares are trading 32.7% below fair value. ✅ Recent Momentum: The stock is up 7.4% over the last 30 days. There is...
Shares of Dell Technologies (NYSE:DELL) are up 15% in late morning trading on Friday, leading a broad rally across AI server names. Hewlett Packard Enterprise (NYSE:HPE) is climbing 9%, while Super Micro Computer (NASDAQ:SMCI) is trailing the group with a 5% gain. Dell shares opened from a Thursday close near $252.80 and pushed to $290.55 ... Dell Surges 15% Leading AI Server Rally; HPE Pops 9%, S...
Shares of Dell Technologies (NYSE:DELL) are up 15% in late morning trading on Friday, leading a broad rally across AI server names. Hewlett Packard Enterprise (NYSE:HPE) is climbing 9%, while Super Micro Computer (NASDAQ:SMCI) is trailing the group with a 5% gain. Dell shares opened from a Thursday close near $252.80 and pushed to $290.55 ... Dell Surges 15% Leading AI Server Rally; HPE Pops 9%, Super Micro Rises 5% Ahead of Earnings Catalyst
00:00 Julie Pre- IPO excitement is putting the spotlight on private markets as investors aim to invest early in companies like SpaceX, Open AI and Anthropic. But investing in these markets does come with risk and by next guest says investors are better off waiting perhaps until their public listings. Joining me now is Matt Powers, managing partner at Powers Advisory Group for this week's FA Corner...
00:00 Julie Pre- IPO excitement is putting the spotlight on private markets as investors aim to invest early in companies like SpaceX, Open AI and Anthropic. But investing in these markets does come with risk and by next guest says investors are better off waiting perhaps until their public listings. Joining me now is Matt Powers, managing partner at Powers Advisory Group for this week's FA Corner brought to you by Capital Group. Matt, it's good to see you. 00:23 Julie Um this has been the week of like focus on these pre- IPO companies, right? We got the S1 from SpaceX. We got a report that Open AI was prepare we're preparing to file confidentially for its IPO, Anthropic going profitable in the first quarter. So a lot of focus here. And I'm curious first, what kind of incoming you're getting from clients who like want in on these things? 00:43 Matt Powers Yeah, good morning, Julie. Thank you for having me here. Uh you know, right now, I think there's just a lot of FOMO in these secondary private markets. You know, we're starting to get some questions from clients, you know, as this hits headlines, but I think we're going to see that ramp up a little bit. You know, we're on the, on the heels of this bull market that's been driven by an industry that didn't really exist four or five years ago and it's normal for IPOs to have this kind of mania, but 01:10 Matt Powers I think what we're seeing is totally different here with SpaceX, Anthropic, Open AI and, you know, unlike anything before, but we never had an industry uh move this quick. Anthropic was literally just founded in uh 2021. You know, open eyes looking at a $850 billion valuation, anthropic like 900 billion. So, it's kind of crazy. You know, a lot of retail money is chasing these, these private secondary markets without transparency and, and enough information to properly price in some of the risk. 01:40 Julie Well, and it's also really interesting that Anthropic um came out and said be careful of specifically...
Earnings Call Insights: Frontline plc (FRO) Q1 2026 Management View CEO Lars Barstad framed operating conditions around the Middle East disruption, saying, "I did not imagine us in a situation for this duration where the Strait of Hormuz has been effectively closed," while adding, "We have put the most profitable quarter since 2004 behind us and are well into a potentially even more rewarding one....
Earnings Call Insights: Frontline plc (FRO) Q1 2026 Management View CEO Lars Barstad framed operating conditions around the Middle East disruption, saying, "I did not imagine us in a situation for this duration where the Strait of Hormuz has been effectively closed," while adding, "We have put the most profitable quarter since 2004 behind us and are well into a potentially even more rewarding one." Barstad highlighted Q1 2026 spot earnings strength and early Q2 booking levels: Frontline achieved $103,500/day VLCC, $72,400/day Suezmax, and $50,700/day LR2/Aframax in Q1; for Q2 to date, 82% of VLCC days were booked at $181,700/day, 79% of Suezmax days at $131,300/day, and 68% of LR2/Aframax days at $125,000/day. CFO Inger Klemp reported, "We report profit of $559 million or $2.51 per share and adjusted profit of $344.9 million or $1.55 per share in the first quarter of 2026," and said adjusted profit increased by $114.5 million quarter-over-quarter, primarily reflecting time charter earnings rising to $536.5 million. Klemp described balance sheet positioning and capital commitments: liquidity of $945 million (including $473 million undrawn revolver capacity), "no meaningful debt maturities until 2030," remaining newbuilding commitments of $925 million, and secured newbuilding financing of up to $737 million related to the 9 newbuildings acquired from affiliates of Hemen. Outlook Management did not provide explicit revenue or EPS guidance for upcoming quarters in this transcript; the call’s forward-looking focus was on booking levels, market structure, and contract coverage. Barstad emphasized uncertainty around reopening risk and trade re-routing, describing headline-driven volatility: "Virtually every Friday, we're about to open Hormuz and every Monday, it's closed again." On risk management in a prolonged closure scenario, Barstad said Frontline has added time charter coverage and is "very close to 30% of our voyage sales on VLCC," explaining, "at certain points in ...
Key Points Photronics makes photomasks, the essential stencils used to manufacture every semiconductor chip and display screen. The stock has delivered a 17.2% compound annual growth rate over the past decade, beating the S&P 500's 13.7%. None of the company's key growth drivers depend directly on AI adoption. 10 stocks we like better than Photronics › Quick: Name a market-beating semiconductor co...
Key Points Photronics makes photomasks, the essential stencils used to manufacture every semiconductor chip and display screen. The stock has delivered a 17.2% compound annual growth rate over the past decade, beating the S&P 500's 13.7%. None of the company's key growth drivers depend directly on AI adoption. 10 stocks we like better than Photronics › Quick: Name a market-beating semiconductor company. You probably said Nvidia (NASDAQ: NVDA). Maybe AMD. Possibly Broadcom (NASDAQ: AVGO) if you've been paying attention and wanted points for originality. But nobody says Photronics (NASDAQ: PLAB). You can't say Photronics at the water cooler and receive anything other than a blank stare. This niche specialist isn't a well-known market darling. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Yet the stock keeps beating the market. Over the past 10 years, Photronics has delivered a 17.2% compound annual growth rate (CAGR), compared to 13.7% for the S&P 500. That gap widens to 28.9% vs. 12.3% over five years. In three years, Photronics wins by 38.6% to 20.6%. Per year, you know. The stock has more than doubled in three years and nearly quintupled in a decade. Photronics may not have kept pace with Nvidia, Broadcom, and AMD over these periods, but it sure beat the broader market. The 10-year period spans multiple market cycles, a pandemic, supply chain chaos, and the entire AI boom. This lesser-known stock just kept compounding. Why "boring" keeps winning Photronics makes photomasks. If you don't know what those are, that's the point. Photomasks are the stencils used to etch circuit patterns onto semiconductor wafers. Every chip in every device requires them. No photomasks, no chips. It's not glamorous work, but it's essential. It has quietly enriched shareholders over the past decade. The masks are also...
Whether investors like it or not, rare earth stocks are politically sensitive. That argument holds for several reasons. As such, when they move in favor of USA Rare Earth (USAR +6.09%) and others, then the stocks are likely to rise. That fact goes a long way to explaining why the stock was up 6.3% at 11:30 a.m. today. A favorable environment for USA Rare Earth Yesterday, I discussed how the market...
Whether investors like it or not, rare earth stocks are politically sensitive. That argument holds for several reasons. As such, when they move in favor of USA Rare Earth (USAR +6.09%) and others, then the stocks are likely to rise. That fact goes a long way to explaining why the stock was up 6.3% at 11:30 a.m. today. A favorable environment for USA Rare Earth Yesterday, I discussed how the market realized there wasn't actually a major breakthrough in the current trade impasse between the U.S. and China, specifically regarding the export of rare earth materials. In addition, there's no change in the importance of the U.S. securing a reliable domestic source of rare earth materials and magnets. Expand NASDAQ : USAR USA Rare Earth Today's Change ( 6.09 %) $ 1.48 Current Price $ 25.77 Key Data Points Market Cap $5.3B Day's Range $ 24.61 - $ 26.71 52wk Range $ 8.00 - $ 43.98 Volume 10.2M Avg Vol 15.5M Gross Margin -4527.99 % That point was highlighted by the $19.3 million award (subject to negotiation) to USA Rare Earth to develop "the development of a pilot-scale rare earth element ("REE") separations project advancing domestic processing capacity." More support for rare-earth coming The lack of a rare-earth deal with China, and the active ongoing participation of the U.S. government in investing in strategically important industries support the idea that the administration will continue to create favorable conditions for rare-earth companies. That view was enhanced by yesterday's news that the administration will invest $2 billion in quantum computing companies. The current administration isn't backing off on support for critical industries; it's increasing that support, and that's good news for USA Rare Earth.
Key Points Conifer Management bought 186,608 shares of Group 1 Automotive last quarter; the estimated transaction value is $65.10 million based on quarterly average pricing. Meanwhile, the quarter-end position value increased by $26.08 million, reflecting both additional shares and stock price changes. The transaction accounts for 12.43% of the fund’s reported U.S. equity assets under management. ...
Key Points Conifer Management bought 186,608 shares of Group 1 Automotive last quarter; the estimated transaction value is $65.10 million based on quarterly average pricing. Meanwhile, the quarter-end position value increased by $26.08 million, reflecting both additional shares and stock price changes. The transaction accounts for 12.43% of the fund’s reported U.S. equity assets under management. Post-trade, Conifer holds 755,032 GPI shares worth $249.64 million. 10 stocks we like better than Group 1 Automotive › On May 14, 2026, Conifer Management disclosed a buy of 186,608 shares of Group 1 Automotive (NYSE:GPI), an estimated $65.10 million trade based on quarterly average pricing. What happened According to its SEC filing dated May 14, 2026, Conifer Management increased its stake in Group 1 Automotive (NYSE:GPI) by 186,608 shares. The estimated transaction value is $65.10 million, calculated using the average closing price during the first quarter. The quarter-end value of the position rose by $26.08 million, reflecting both the share increase and stock price movements. What else to know Conifer’s buy lifts its Group 1 Automotive holding to 47.66% of reported U.S. equity AUM as of March 31, 2026 Top five holdings after the filing: NYSE: GPI: $249.64 million (47.7% of AUM) NYSE: EQH: $155.86 million (29.8% of AUM) NYSE: LAD: $52.94 million (10.1% of AUM) NASDAQ: MNDY: $27.64 million (5.3% of AUM) NASDAQ: RMNI: $19.40 million (3.7% of AUM) As of May 14, 2026, Group 1 Automotive shares were priced at $334.33, down 24% over one year and underperforming the S&P 500 by roughly 50 percentage points. Company overview Metric Value Revenue (TTM) $22.47 billion Net Income (TTM) $323.60 million Dividend Yield 0.6% Price (as of market close May 14, 2026) $334.33 Company snapshot Group 1 Automotive offers new and used vehicles, parts, service contracts, vehicle maintenance, repair services, and related financing and insurance products. The firm operates a network of automotive...
Andy Burnham officially launched his campaign to return to parliament this morning, channeling the arrival of a heatwave to declare “hope is in the air”. Today’s figures show Brits had been coping with the impact of the Iranian war by cutting back on spending , but I suspect the prospect of unabashed sun will see a little splashing out on a new paddling pool / parasol / bottle of Pimms. And possib...
Andy Burnham officially launched his campaign to return to parliament this morning, channeling the arrival of a heatwave to declare “hope is in the air”. Today’s figures show Brits had been coping with the impact of the Iranian war by cutting back on spending , but I suspect the prospect of unabashed sun will see a little splashing out on a new paddling pool / parasol / bottle of Pimms. And possibly a new PM. The Manchester Mayor is buoyed by a Deltapoll suggesting that Labour would be ahead in the polls with him as prime minister. Of course to even get to the starting gate, he must win Makerfield and our Jacob Reid today profiles the 77,000 people who will make the call . Another bit of good news for Team Burnham is that our market team reports yields “on the 30-year are on track for their biggest weekly drop since the end of 2023”. In part, as the subheading on the graph says, this is because of a pullback in expectations on interest rate hikes (as Markets Today explain below, this is a function of suboptimal UK economy dynamics with worsening unemployment and so on). But it’s also because of the Burnham team’s commitment this week to stick to fiscal rules. Clarified in a statement to Bloomberg, this has reassured the markets, at least for now. For forcing that clarity, Burnham owes our political editor. But set against that, Tom Rees reports: “UK government borrowing hit the highest level for any April in six years” . Remember, this is before we have felt the full inflationary effects of the Iran war. Just another reminder of the fiscal thin ice that Burnham will be skating on, and how constrained he’ll be if he sticks to the fiscal rules if he ascends to power. So, should the nation stick with Starmer? Maybe, according to this piece from Bloomberg Opinion’s Mihir Bose. It’s a good reminder that Keir Starmer’s diagnosis of the country’s ailments was, whisper it, astute : “For all the criticism thrown at the prime minister, he did have a guiding mission: a direct,...
A proposal to allow four academy sides from Women’s Super League clubs to join the third tier from 2027 has been approved by the FA Women’s National League board. The league’s management met FAWNL representatives on Friday and were told of the board’s backing. The plans will now be put to the Football Association for further discussion before the changes can be rubber stamped. However, plans to in...
A proposal to allow four academy sides from Women’s Super League clubs to join the third tier from 2027 has been approved by the FA Women’s National League board. The league’s management met FAWNL representatives on Friday and were told of the board’s backing. The plans will now be put to the Football Association for further discussion before the changes can be rubber stamped. However, plans to introduce a mid-season split, as in Scotland, is understood to have been dropped. The FA has been contacted for comment. The Guardian revealed last month that the FA had proposed major structural changes to the FAWNL, including adding four WSL academy sides. That was alongside a potential investment package of about £1m, enhancements to legal and medical support in the loan system, and play-offs in tier four. Adding WSL academy sides to a lower division has divided opinion in the women’s game and clubs’ reactions to the proposals have been mixed. Manchester City are among several WSL clubs understood to support the move. The champions’ managing director, Charlotte O’Neill, said earlier this month they would like to enter an academy team into the third tier, in City’s case National League North. “We’d definitely be open to it. We’ve seen in Spain, for example, how powerful that’s been for Barcelona,” she said. “The mechanism is difficult. How do you make that fair for all professional clubs? The impact that has on the National League. We’re very mindful of that and respectful of various positions, but if you’re asking me would I love to be able to put a B team into the national pyramid, absolutely. It would be hugely beneficial for the Lionesses, not just us.” A number of lower-league clubs have voiced their concerns about the proposed move, however. Some coaches vented their frustration on social media, accusing the FA of “rehashing and repackaging” a scrapped plan to introduce WSL B teams. Ian Chiverton, the chair of Portsmouth’s supporters club, accused the authorities of “...
LD Traders increasingly priced in the possibility that incoming Federal Reserve Chair Kevin Warsh may need to hike rates as the Iran conflict reignited inflation concerns. Bloomberg swaps pricing showed traders had fully priced in at least one quarter-point Fed rate hike by the end of 2026. CME FedWatch data for the December 2026 meeting showed markets assigning roughly 70% odds that the Fed’s tar...
LD Traders increasingly priced in the possibility that incoming Federal Reserve Chair Kevin Warsh may need to hike rates as the Iran conflict reignited inflation concerns. Bloomberg swaps pricing showed traders had fully priced in at least one quarter-point Fed rate hike by the end of 2026. CME FedWatch data for the December 2026 meeting showed markets assigning roughly 70% odds that the Fed’s target rate would be above the current 350-375 basis point range, implying at least one quarter-point hike over the next two years. The highest probability outcome for December 2026 remained a move to the 375-400 basis point range at 42.3%, while markets also priced a combined 27.6% chance of rates reaching 400-425 basis points or higher. Pricing became even more hawkish further out. For the March 2027 meeting, FedWatch data implied roughly 82% odds that rates would be above the current range, including nearly 48% combined odds of rates reaching 400-425 basis points or higher. The shift marked a sharp turnaround from earlier this year, when investors had focused almost entirely on the timing of Fed rate cuts. Instead, fears that the Iran conflict could push up oil and shipping costs and keep inflation elevated for longer forced traders to rethink the Fed’s policy path. Investors also prepared for a potential shift in Fed leadership, with President Donald Trump set to host the swearing-in of Kevin Warsh as Federal Reserve chair at the White House on Friday. Federal Reserve Governor Christopher Waller added to those concerns on Friday, saying he could no longer rule out rate hikes “further down the road” if inflation did not cool soon. Waller, who had leaned toward rate cuts earlier this year, said his focus had shifted back toward inflation after price pressures remained stubbornly above the Fed’s 2% target. More on the US Economy Headline Inflation Surges, But Core Measures Keep The Fed On Hold Rising Interest Rates: Why The Narrative Fails Against The Data Mortgage rates fluc...
Eoneren/E+ via Getty Images There is a simple reason I remain constructive on IREN : the company no longer looks like a pure “AI demand is big” story; it is increasingly a story about whether scarce, energized, deployable infrastructure can command better economics in a market that still cannot clear. The bullish case for IREN has evolved. The original thesis was mostly about power scarcity, land,...
Eoneren/E+ via Getty Images There is a simple reason I remain constructive on IREN : the company no longer looks like a pure “AI demand is big” story; it is increasingly a story about whether scarce, energized, deployable infrastructure can command better economics in a market that still cannot clear. The bullish case for IREN has evolved. The original thesis was mostly about power scarcity, land, and the company's ability to convert those physical assets into AI infrastructure. That was the credibility phase. The market wanted proof that IREN had real assets, real counterparties, and a plausible path from mining-adjacent infrastructure to AI cloud monetization. Now the debate is changing. The market is beginning to ask, “Can IREN convert that infrastructure into better economics as scarcity persists across the stack?” I think the answer is increasingly yes, and the recent breadcrumbs around pricing power are the reason. The Important Shift: Scarcity Is Not Just About The Newest GPU A few recent data points, widely circulated in investor and industry channels, point in the same direction. First, there were reports that rental pricing for older-generation NVIDIA ( NVDA ) H100 GPUs has remained firm or even increased in 2026 despite the product being several generations old. (Source: X.com) Second, there were reports that Nebius ( NBIS ) raised on-demand pricing materially, while a third-party availability index for cloud GPU supply dropped sharply. If those data points are directionally correct, the message is powerful: AI compute scarcity is broader than just the newest chip launch cycle. (Source: X.com) If older-generation GPUs are still commanding better-than-expected pricing, and if cloud availability is falling even as prices rise, then the bottleneck is no longer just about headline silicon supply. It is about deployed, usable, ready-to-run compute. That should be top of mind to anyone analyzing IREN. Because customers are not really buying chips in the abstrac...