Thomas Barwick Applied Digital ( APLD ) has amended two of its lease agreements with CoreWeave ( CRWV ) regarding its Polaris Forge 1 data centers in Ellendale, N.D., according to a filing with the U.S. Securities and Exchange Commission. Applied Digital originally leased the 100 MW data center known as ELN-02 and a 150 MW data center known as ELN-03 to CoreWeave in May 2025. However, the companie...
Thomas Barwick Applied Digital ( APLD ) has amended two of its lease agreements with CoreWeave ( CRWV ) regarding its Polaris Forge 1 data centers in Ellendale, N.D., according to a filing with the U.S. Securities and Exchange Commission. Applied Digital originally leased the 100 MW data center known as ELN-02 and a 150 MW data center known as ELN-03 to CoreWeave in May 2025. However, the companies have agreed to suspend the ELN-02 leases under CoreWeave and create new leases with CoreWeave Compute Acquisition Company, a wholly owned subsidiary of CoreWeave. In addition, CoreWeave delivered an Unconditional Springing Guaranty of Payment and Performance to Applied Digital. CoreWeave is also obligated to provide a letter of credit in the amount of $50M to secure obligations under the ELN-02 Parent Lease within 30 days. The companies made the same changes with the ELN-03 data center lease as well. "Based on the enhanced credit ratings of CoreWeave Parent's refinanced indebtedness for each of the ELN-02 and ELN-03 data center facilities, and the additional credit support provided, the Company has determined that the foregoing transactions are favorable to the holders of its 9.250% notes due 2030," according to the Form 8-K. Under the terms of these lease agreements, Applied Digital will deliver 250 MW of capacity to CoreWeave's AI and high-performance computing infrastructure at the Ellendale campus. The 15-year lease is expected to generate about $7B in revenue for Applied Digital. CoreWeave also holds an option for a third 150 MW building at the site, which is expected to come online in 2027. Applied Digital shares surged 15% by the close of trading on Tuesday. They had edged up another 3.6% during pre-market trading on Wednesday. Similarly, CoreWeave jumped 12% by Tuesday's close and was up another 2% by Wednesday morning. More on Applied Digital and CoreWeave Looking Ahead To Applied Digital's Q3 Earnings: Is The $2.4B Power Build Worth It? CoreWeave: A Compelling R...
press release ( SHAZ ): FY GAAP EPS of -$4.04. Revenue of $1.57M (+256.8% Y/Y). More on SharonAI Holdings Inc. Sharon AI prices $125 million U.S. IPO, to list on Nasdaq Financial information for SharonAI Holdings Inc.
press release ( SHAZ ): FY GAAP EPS of -$4.04. Revenue of $1.57M (+256.8% Y/Y). More on SharonAI Holdings Inc. Sharon AI prices $125 million U.S. IPO, to list on Nasdaq Financial information for SharonAI Holdings Inc.
John M. Chase/iStock Unreleased via Getty Images The last time I wrote about Strategy Inc ( MSTR ) stock was in November 2024, the day when MSTR stock topped. My article was titled "MicroStrategy Stock: Signs Of Topping Have Appeared." I argued that the technical setup for both MSTR and Bitcoin ( BTC-USD ) wasn't great and that cracks were forming in the sentiment around MSTR stock, which was way ...
John M. Chase/iStock Unreleased via Getty Images The last time I wrote about Strategy Inc ( MSTR ) stock was in November 2024, the day when MSTR stock topped. My article was titled "MicroStrategy Stock: Signs Of Topping Have Appeared." I argued that the technical setup for both MSTR and Bitcoin ( BTC-USD ) wasn't great and that cracks were forming in the sentiment around MSTR stock, which was way too hot at the time. Lots of people didn't like my article because I went against the bulls. See below. Seeking Alpha Now, with MSTR stock 77% off its highs and BTC 46% off its highs, the story is a lot different. In other words, I don't want to poke my eyes out when looking at Strategy anymore (at least not as much). The reason is that the premium to mNAV, when using enterprise value, is now at 1.14x, a major improvement compared to the 3x+ multiples the stock used to carry. And its market cap is actually under its BTC holdings. Bitcoin's chart is also around a major support level, which can help stabilize MSTR stock for now. And the Crypto Fear & Greed Index is in fear territory. That's generally viewed as a good contrarian signal. Based on what I said above, you might think I've flipped to being bullish, but I give it a Hold rating because there are factors that offset the positives. Let's get into it. Why MSTR Isn't A Buy Basically, I don't think there's a clear Buy signal just yet. There's still a 14% premium to mNAV on an enterprise value basis, and that can come down to 1x if Bitcoin ends up making one more swing lower. I really don't see any reason to pay a premium for MSTR at the moment. Not to mention, Bitcoin and BTC-related stocks are more like sentiment plays than fundamental ones because there aren't traditional cash flows to value them on. You need good reasons to believe that sentiment will improve. At the current price, with its market cap under its BTC holdings, it's harder for MSTR to raise money in an accretive way. That's a possible reason why Strategy ...
Trump To Address Nation With 'Important Update' On Iran War: What Will He Say? Update (0845ET): Minutes after we prepared this post, President Trump posted on his social media feed that Iran has asked for a ceasefire: "Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE!" Trump added that he ...
Trump To Address Nation With 'Important Update' On Iran War: What Will He Say? Update (0845ET): Minutes after we prepared this post, President Trump posted on his social media feed that Iran has asked for a ceasefire: "Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE!" Trump added that he will consider it if the Strait is opened... or else! "We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!! " Presumably this will be a topic of tonight's address to the nation, but once again it takes two (or three) to TACO and until the Strait is open, all bets are still off. * * * President Donald Trump is scheduled to address the nation on April 1 to give an update on the military operation in Iran, according to the White House. White House press secretary Karoline Leavitt said in a post on X that the president will provide “an important update” about the ongoing war at 9 p.m. ET on Wednesday. During a White House press conference on March 31, Trump indicated that the U.S. military may conclude its combat operations against Iran within weeks. “I would say that within two weeks, maybe two weeks, maybe three. We’re hitting them very hard. Last night we knocked out tremendous amounts of missile-making facilities,” he told reporters. “We’re finishing the job, and I think within, maybe two weeks, maybe a couple of days longer, to do the job. But we want to knock out every single thing they have.” As The Epoch Times' Aldgra Fredly reports, Trump said while there is a possibility of reaching a deal with Iran to end the military operations for Tehran’s surrender of its nuclear weapons program, the operation could still be ended without any deal. “If they come to the table, that’ll be good. But it doesn’t matter whether they come or not. We’ve set them back, it’ll take 15 to 20 year...
NATO Supreme Allied Commander for Transformation Admiral Pierre Vandier discusses the future of the NATO alliance following fresh criticism from President Donald Trump amid the war in Iran. (Source: Bloomberg)
NATO Supreme Allied Commander for Transformation Admiral Pierre Vandier discusses the future of the NATO alliance following fresh criticism from President Donald Trump amid the war in Iran. (Source: Bloomberg)
As credit card companies with lofty fees compete for affluent consumers, the hottest new perks are wearable devices for tracking health, fitness and sleep. After lifting annual dues for their top-tier cards, JPMorgan Chase & Co. and American Express Co. rolled out typical benefits like hotel, dining and travel credits. But there were also more unexpected bonuses: American Express added a $200 cred...
As credit card companies with lofty fees compete for affluent consumers, the hottest new perks are wearable devices for tracking health, fitness and sleep. After lifting annual dues for their top-tier cards, JPMorgan Chase & Co. and American Express Co. rolled out typical benefits like hotel, dining and travel credits. But there were also more unexpected bonuses: American Express added a $200 credit toward an Oura Health Oy smart ring to the Platinum Card, while Chase included a $359 rebate for Whoop Inc.’s fitness bands for Sapphire Reserve holders. The promotions are generating results, pushing users to sign up for the latest credit cards and join the wearables craze for the first time. Senior Frontier Capital Management operations associate Connor Burfeind, for instance, said he checks his Whoop scores twice a day after picking up a device in an effort to get more value out of his card’s higher fee. Justin Hoffmann, founder of Austin-based startup Tomo AI, added that he previously dropped his Whoop subscription due to cost, but the offer drew him back in. “It was a surprising deal when I saw it,” Hoffman said. “I was like, what’s the catch?” Card companies spend billions of dollars annually helping fund perks in an effort to keep users glued to the high annual fee cards. The annual Platinum cost is $895, while the Sapphire Reserve’s yearly charge is $795. The companies also make money from merchants who pay to accept credit cards. Whoop Chief Executive Officer Will Ahmed told Bloomberg the partnership is working. “We’ve just seen a really good pickup from their cardholders in becoming new group members,” he said. “It’s a partnership we’re very excited about. I also think it speaks to Whoop’s maturation, which is to now be able to partner with some of the biggest and most well known companies in the world.” “We’re pleased with the interest we’ve seen to date and continue to hear positive feedback from new and existing members who discover Oura through this partner...
J Studios/DigitalVision via Getty Images Power Corporation of Canada ( PWCDF ) represents a broadly interesting bet in that it gets investors exposed primarily to insurance and to the US (as we mentioned in the previous coverage ), which plays out well in the current higher cost of capital environment that may endure a little longer than expected. Due to the reinflation risks associated with the e...
J Studios/DigitalVision via Getty Images Power Corporation of Canada ( PWCDF ) represents a broadly interesting bet in that it gets investors exposed primarily to insurance and to the US (as we mentioned in the previous coverage ), which plays out well in the current higher cost of capital environment that may endure a little longer than expected. Due to the reinflation risks associated with the energy crisis, there is a considerable possibility of sustained higher rate expectations. Moreover, consumer sentiment rose unexpectedly in March, indicating that the growth mandate isn't enough of a threat to justify any cuts. Consequently, we see upside for rates and for the reserve portfolios at Great-West ( GWLIF ) (not a particularly expensive insurance stock on a relative basis either), in addition to expecting continued underlying performance. Power Corp also offers a holding company discount of 28% for a little more margin of safety, though in general we don't consider 28% to be a particularly unusual holding company discount and typically like more in order to make a case for actual upside on that gap closing. NAV Breakdown Being a holding company , the NAV is an important consideration. On a mark-to-market basis as much as possible, the NAV is as shown below. NAV (VTS) The NAV discount is 38%. Theoretically, there'd be an upside of 38% just on the basis of the NAV discount were it to close. In practice, it will never close completely due to disbursement effects and taxes, and at any rate, holding company discounts, regardless of fiscal regimes, more often than not trade at holding company discounts, with 20% being very normal. Therefore, we usually like to see over 35% before we're particularly interested, but 28% isn't too bad. In terms of what drives the Power Corp equity story, it comes down mostly to Great-West. Performance was really good , with ROE up 0.7% to 18.2%, and base earnings growing in the teens. In the US they have their major Empower brand for reti...
Getty Images Article Thesis Anthropic ( ANTHRO ) is one of the leading Artificial Intelligence companies in the world today, and an IPO could be coming later this year. While the company isn't publicly traded yet, I want to take a look at it today and what a potential IPO could mean for a couple of other companies. Past Coverage I have not covered Anthropic before, but I have covered other AI play...
Getty Images Article Thesis Anthropic ( ANTHRO ) is one of the leading Artificial Intelligence companies in the world today, and an IPO could be coming later this year. While the company isn't publicly traded yet, I want to take a look at it today and what a potential IPO could mean for a couple of other companies. Past Coverage I have not covered Anthropic before, but I have covered other AI plays such as Alphabet ( GOOG )( GOOGL ), NVIDIA ( NVDA ), Broadcom ( AVGO ), or Amazon.com ( AMZN ). If you're interested in broader AI coverage, please feel free to check out these articles. Anthropic: Company Overview Anthropic is a pretty young company, having been founded just five years ago, but it has turned into one of the most valuable unicorns in this pretty short period of time. Following the most recent funding round that took place earlier this year, Anthropic is valued at around $380 billion—not quite as much as the valuation of OpenAI ( OPENAI ), at more than $900 billion, but extremely valuable nevertheless. Meta Platforms ( META ), for example, was valued at around $100 billion when it had its IPO (as Facebook at the time), and that was one of the largest tech IPOs we have ever seen. Anthropic's huge valuation can, I believe, be explained by two main factors: First, Anthropic is pretty good at what it does. Its Large Language Models under the Claude brand are well-known and liked by many users, especially in areas such as programming and coding. This gives Claude a bit of a different focus compared to OpenAI's ChatGPT and Alphabet's Gemini, which is, I think, an advantage—otherwise, competing with these very well-funded players would be difficult. According to AI benchmarks , Anthropic's Claude gets some of the best grades when it comes to intelligence, although it's not quite as strong when it comes to speed or pricing. Still, many users don't seem to see these as major issues, with Claude having millions of active users every day. New features are being rolle...
Three people arrested on suspicion of conspiracy to commit arson, say police investigating Golders Green incident Counter-terrorism police have arrested two men and a boy in connection with a suspected arson attack last week on ambulances run by a Jewish charity in Golders Green, north London. The three people – a 19 year-old man, a 20-year-old man and a 17-year-old boy – were all arrested early o...
Three people arrested on suspicion of conspiracy to commit arson, say police investigating Golders Green incident Counter-terrorism police have arrested two men and a boy in connection with a suspected arson attack last week on ambulances run by a Jewish charity in Golders Green, north London. The three people – a 19 year-old man, a 20-year-old man and a 17-year-old boy – were all arrested early on Wednesday, the Metropolitan police said. Continue reading...
amgun/iStock via Getty Images Introduction Energy price volatility of recent weeks has brought memories of 2022 for European investors. While hopes for a de-escalation in the Iran war have increased in recent days, uncertainty is likely to remain over the near term, as reflected in the attractive valuations European companies trade at. I believe this environment presents a buying opportunity for i...
amgun/iStock via Getty Images Introduction Energy price volatility of recent weeks has brought memories of 2022 for European investors. While hopes for a de-escalation in the Iran war have increased in recent days, uncertainty is likely to remain over the near term, as reflected in the attractive valuations European companies trade at. I believe this environment presents a buying opportunity for investors with a longer-term horizon. As such, in this article I will highlight four Europe-focused ETFs, discussing their strategy, geographic allocation, current valuations, and sector exposure. They include the Vanguard European Stock Index Fund ETF ( VGK ) and the iShares Europe ETF ( IEV ) for pan-European exposure, as well as the iShares MSCI Eurozone ETF ( EZU ) and the State Street SPDR EURO STOXX 50 ETF ( FEZ ) for exclusive Eurozone exposure. I will also highlight recent advances in the adoption of renewable energy and electric mobility, which are likely to blunt (but not fully absorb) the shock rippling through energy markets. This somewhat more benign outlook is also reflected in the ECB's macroeconomic projections, which I will highlight as well. Progress Made in Recent Years Following the 2022 Russian invasion in Ukraine, European countries have made steady progress in adopting renewable energy. For instance, in Q3 2025 some 49.3% of electricity was sourced from renewable sources in the European Union, a notable increase from the 37.8% share of renewables in the pre-war 2021 . That said, if you look at European electricity prices , you will see notable differences across countries, with countries such as Spain and Portugal benefiting from high solar adoption, while Italy and Greece are impacted by high gas prices. Likewise some countries such as Norway (Europe's main oil & gas supplier) are making progress to switching to electric vehicles, with 98% of all new cars sold in February 2026 being battery electric vehicles. This was achieved through tax incentives, ...