# Research run 2026-08-25T14:55 UTC ## What changed - MRVL +6% to $243 as Google's $120B warrant deal draws Rosenblatt ($300) and Susquehanna ($265) target hikes ahead of Friday 6:30am AEST earnings. - NVDA +1.5% to $211.66 on Raymond James's $352 target, but OpenAI's Jalapeño chip benchmarks claim more throughput per kilowatt than Blackwell; earnings Thu 6:30am AEST. - Consumer confidence slipped to 89.4 (90.2 expected) but stocks opened higher with 10-year at 4.65% and oil down 2.5%; NFLX +1.7% on Wolfe's $95 target. - BABA ADR +0.4% after Jack Ma bought HK$600M+ of shares and Tsai added 720k; Apple's 2nm M6 launch is a TSMC proof point, TSM +1.5%. - Conference Board consumer confidence fell to 89.4 in August (consensus 90.2), a seven-month low, with the Expectations Index sliding to 68.2. - Siemens Energy reportedly seeks EUR 10B+ for a majority stake in its steam-turbine unit, with CVC, EQT, Bain, Brookfield and KKR circling. - Oil fell ~3% to a one-week low below $90 as markets read new US Iran sanctions as economic, not military, pressure. ## Market summary Wall Street opened higher as tech rebounded into Nvidia: S&P 500 +0.2% at ~7,665 and Nasdaq +0.4% at ~26,090 in the first hour, with oil -3% below $90 after markets shrugged off new US sanctions on Iran, and a soft Conference Board consumer confidence print (89.4 vs 90.2 expected, Expectations Index down to 68.2, a seven-month low) did little damage. Europe is heading into the close firmer (STOXX 600 +0.4% at ~657, DAX +0.6% at ~26,280) as the Iran risk premium eased, and Siemens Energy led our list at +3.2% on the EUR 10B+ steam-turbine sale reports. Robinhood (+6%) and Bloom Energy (+3.6%) were the only watchlist names moving more than 3%; Broadcom, Cloudflare, GE Vernova and Teradyne were flat. While you sleep the US session finishes (~6:00am AEST) and any Siemens Energy ad-hoc could land overnight; Wednesday brings July PCE (core expected 0.2% m/m, 3.3% y/y) and the second Q2 GDP estimate at 22:30 AEST, then Nvidia (consensus revenue ~$92B) and Salesforce report after the US close, roughly 6:30am AEST Thursday, which will set the tone for the whole AI complex on the list. ## Holdings - AMZN: hold @ $260.92 - Slipped 0.4% to $260.92 in the first hour after closing Aug 24 at $262.07 (+1.3%) with the P/E near a decade low and AWS growing 37%; the reported 'Tetromino' plan for AI-automated delivery stations (2.5x throughput, pilot in 2028) is a long-dated margin lever, but the $220B capex plan, Bezos selling and state antitrust suits keep a lid on the multiple, so hold rather than chase. - AXOS: hold @ $98.01 - Up 1.1% to $98.01 after announcing a dual listing on NYSE Texas, a cosmetic change; Benchmark's Aug 13 target hike to $120 (Buy) on above-peer growth and 17% ROE supports continuing to hold. - BABA: watch @ $118.88 - The ADR is +0.35% at $118.88 as insiders lean in against the record HK$80B ($10.2B) placement: Jack Ma bought more than HK$600M of shares over consecutive days (SCMP) and chair Joe Tsai added another 720,000 Hong Kong shares on Tuesday, while BofA kept Buy/$172; the ~3.7% dilution and Michael Burry's exit still argue for waiting for the stock to base before adding. - ENPH: watch @ $37.02 - Flat at $37.02 (-0.4%) after a 3.7% drop on Aug 24 with no fundamental catalyst; the AI assistant, IQ Battery C80 and a Dutch net-metering campaign are incremental, so stay on the sidelines until residential demand stabilizes. - FIGR: hold @ $39.97 - Up 3.4% to $39.97 after EDX Markets integrated Figure's YLDS stablecoin as institutional collateral and a treasury asset, another distribution win on top of the Q2 beat (marketplace volume +132% to $4.3B) and Bernstein's $70 target; hold and let execution play out. - GOOGL: add @ $347.24 - Marginally lower at $347.24 (-0.2%) after Google Cloud launched Gemini Enterprise for Financial Services and for Legal, with Moody's plugging ratings data in via an MCP server and Weil signing on, a day after the Verizon partnership; these vertical enterprise wins support Cloud's +82% growth, Pixel production leaving China by 2027 trims tariff risk, and the post-Jeff-Dean dip remains a reasonable entry. - LDI: trim @ $0.92 - Bounced 3% to $0.92 but remains below the $1 NYSE threshold after the formal non-compliance notice, with Goldman at Sell and a $1 target; exchange-compliance and dilution risk argue for reducing exposure. - META: hold @ $564.58 - Up 1% to $564.58 in early trade as William Blair flagged a $100B+ opportunity in Meta's business AI agents, building on The Information's report that the Hatch consumer agent launches within weeks with a paid tier; but the California teen-addiction trial is in week two with testimony turning to Instagram's design (and a whistleblower saying Zuckerberg chose growth over kids' safety), the $942M New Mexico liability and $125-145B capex keep the stock ~29% off its high, so hold pending trial clarity. - MRVL: hold @ $243.47 - Surged 6.2% to $243.47 in the first hour as Rosenblatt initiated at Buy with a $300 target and Susquehanna lifted its target to $265 (Wells Fargo $310 on Monday), all citing the Google warrant deal covering roughly $120B of custom AI product business through 2033; options still imply a ~12% move on Thursday's print (Fri ~6:30am AEST) against ~$2.71B revenue and $0.93 EPS consensus, and with the stock up ~160% YTD the bar is high, so hold through the report. - MU: hold @ $926.78 - Up 1.8% to $926.78 after Monday's 5.8% drop on the CXMT/YMTC-for-Apple report, which Lynx Equity called an overreaction; Mizuho trimmed its target to $1,300 from $1,375 but kept Outperform, Barron's argues Micron will miss part of a 50% memory-price rise because of long-term contracts, HBM remains sold out through 2027, and expect volatility through Nvidia's print. - NFLX: add @ $81.39 - Up 1.7% to $81.39 after Wolfe Research raised its target to $95 from $84 (22x 2028 EPS of $4.41), arguing Q2's soft engagement was a release-schedule issue and that returning titles set up stronger second-half results; an ads-leadership reshuffle is worth watching but does not change the thesis, and at ~37% below the 52-week high with ad-tier and bundling optionality the valuation reset remains an add opportunity. - NVDA: hold @ $211.66 - Up 1.5% to $211.66 in the first hour, snapping a seven-day losing streak, as Raymond James lifted its target to $352 from $330 and framed Nvidia's CPU franchise as strategically important in a server-CPU market it sees reaching $201B by 2030; the offset is OpenAI's Jalapeño chip, whose SemiAnalysis benchmarks claim more tokens per user and more throughput per kilowatt than Blackwell, with volume deployment in 2027. Options price a 5.4% (~$280B) move on Wednesday's report (Thu ~6:30am AEST) against ~$92B revenue consensus, so hold and reassess after the print. - OPENAI: hold - OpenAI published first Jalapeño results: SemiAnalysis's InferenceX benchmark shows the Broadcom-co-designed inference chip delivering more tokens per user and more throughput per kilowatt than Nvidia Blackwell systems, with limited deployment from end-2026 and scale in 2027, a meaningful step toward lowering its compute bill; that offsets the Alabama AG subpoena and 15-state demand over the Hugging Face cyber-model breach and Altman's admission he overestimated AI's disruption pace. Private, so hold. Marked at 5.43x cost: latest valuation ~$852B (2026-08) vs ~$157B at entry (https://techcrunch.com/2026/08/10/openai-reportedly-completed-a-7-billion-employee-tender-offer/). - RKT: hold @ $14.0 - Eased 0.6% to $14.00 after Monday's FTC settlement of the Zillow/Redfin rental-listings case removed a legal overhang while letting the Zillow partnership run through 2030; the 10-year yield dipping to 4.65% helps at the margin, but after the earlier ~50% run the shares still look fully priced, so hold. - STRIPE: hold - Beyond the OpenRouter deal, Stripe launched Treasury in Australia and was named a Gartner billing leader; steady expansion with no valuation-changing news, so hold the private position. Marked at 2.27x cost: latest valuation ~$159B (2026-02) vs ~$70B at entry (https://techcrunch.com/2026/02/24/stripes-valuation-soars-74-to-159-billion/). - TSM: add @ $416.19 - Up 1.5% to $416.19 after Taipei shares rebounded 1.05% to NT$2,400; Apple's new M6 is described as a 2nm chip, the first mass-market 2nm silicon from TSMC's sole-source customer, and with 40%+ 2026 growth guidance, Xiaomi's 3nm Xring and the Sony image-sensor JV underlining demand breadth, the pullback from the June high remains a buying opportunity. ## Watchlist - ALAB:US Astera Labs - accumulate (medium) - Astera Labs sells the connectivity silicon (PCIe/CXL retimers, Scorpio fabric switches, Ethernet) that ties GPUs and XPUs together inside AI racks; Q2 2026 revenue was $392M (+104% YoY, +27% QoQ) with eight straight EPS beats, and Scorpio switches become the largest product line in Q3, a quarter early. Shares are ~45% below their 52-week high, offering exposure to scale-up networking, the fastest-growing layer of AI infrastructure. - AVGO:US Broadcom - accumulate (medium) - Broadcom is the leading custom AI accelerator (XPU) and AI networking supplier to hyperscalers, guiding Q3 FY26 AI semiconductor revenue to ~$16B (>200% YoY) and total revenue to $29.4B (+84%), with a stated path to >$100B of AI revenue in 2027. The stock is ~23% below its June high after the July semiconductor selloff, giving a better entry into a franchise with multi-year committed custom-silicon programs plus a sticky VMware software annuity. - SKHY:US SK hynix - accumulate (medium) - SK hynix supplies more than half of the world's HBM and just posted record Q2 2026 results: revenue KRW 79.3T (+257% YoY) and operating income KRW 60.5T (+557% YoY) at a 76% operating margin, with HBM4 mass shipments ramping in H2. On Aug 19 it accelerated a KRW 40T buyback-and-cancel program (24.07M shares, 3.3% of the count, executed over ~3 months from Aug 20) and lifted its shareholder-return target to over 50% of FCF, backed by ~KRW 69T of net cash; it is also weighing a first Japanese memory fab (Miyagi), and the July 2026 Nasdaq ADR broadens the investor base. On Aug 25 the Seoul shares reversed a 4.5% morning drop to close +0.4% at KRW 1,678,000 as the buyback and domestic buying absorbed foreign selling and the Kospi swung from -4% to +0.7%; Needham lifted its ADR target to $220 from $200, and the ADR is indicated +2.3% pre-market at ~$159 after closing -4.9% at $155.37 on Aug 24. - 3750:HK CATL - buy (high) - CATL is the world's largest battery maker (~40% global EV battery share) and the clear leader in grid storage: H1 2026 revenue rose 55% to RMB 277B and net profit 42% to RMB 43.3B, with energy storage revenue up 88% to RMB 53B (nearly 20% of sales) as global storage deployments surge. It raised ~$5B in Hong Kong in April, announced a large buyback in July, Moody's moved its A3 outlook to positive in August, and on Aug 25 it agreed to pay RMB 2.56B (~$370M) for a 24.9% stake in Qiyuan Green Power, China's largest heavy-truck battery-swapping operator (1,600+ stations in 208 cities), making CATL the largest shareholder and the dominant player in commercial-vehicle swapping. The stock is little changed at ~HK$632 (-1% on Aug 25), ~20% below its 52-week high, with scale, cost and chemistry (sodium-ion, LFP) advantages competitors cannot match. - BE:US Bloom Energy - accumulate (medium) - Bloom's solid-oxide fuel cells have become a mainstream on-site power solution for AI data centers that cannot wait years for grid interconnects: Q2 2026 revenue jumped 166% to $1.07B with a 33% gross margin, and full-year guidance was raised to $3.9-4.2B revenue and $800-900M non-GAAP operating income. A 2.8 GW Oracle agreement and the Nebius Vineland win show the customer base broadening to hyperscalers and neoclouds, and the new Power Connect deployment system cuts installation time by over 40%. The Pelosi pop is holding: shares are +3.6% at $211.36 in the first hour on Aug 25 (intraday ~14:45 UTC) after closing +1.3% at $204.02 on Aug 24, as retail follows Nancy Pelosi's first-ever Bloom purchase (about $3-4.25M of stock and options, reported alongside Intel) and AI-infrastructure names (Bloom, Supermicro) rebound ahead of Nvidia; the stock remains ~38% off its June high. - ENR:DE Siemens Energy - accumulate (medium) - Siemens Energy is Europe's answer to GE Vernova: gas turbines, grid technologies (transformers, HVDC, switchgear) and wind. Fiscal Q3 2026 (June quarter) orders hit a record EUR 17.9B (book-to-bill 1.57), revenue grew 18.5% comparable to EUR 11.4B, profit before special items more than tripled to EUR 1.62B, pre-tax free cash flow rose to EUR 2.3B and the order backlog reached EUR 162B, with the Grid Technologies backlog alone at a record EUR 51B on transformer demand from US data centers; FY26 guidance was confirmed toward the upper end of the 10-12% margin range and Siemens Gamesa posted its first positive quarter in 15. The portfolio story firmed up on Aug 25: Bloomberg-sourced reports (Seeking Alpha/MSN, briefs.co, newscase, Stock-World) say Goldman Sachs is preparing an auction of a majority stake in the Transformation of Industry division (steam turbines, generators, compressors; ~EUR 5.7B revenue, ~17,000 staff) at a valuation above EUR 10B, up from RBC's EUR 8B estimate in June, with CVC, EQT, Bain Capital, Brookfield and KKR reported to be evaluating bids; the supervisory board met today to deliberate on that route. As of ~14:45 UTC on Aug 25 (before the Xetra close) no ad-hoc release or board statement had been published; Stock-World, citing Handelsblatt, reports a final decision is expected only after the next quarterly report (Q4 FY26 on Nov 11), so today's meeting looks like a process step (formalising the majority-sale route and Goldman mandate) rather than a signing. Shares are trading +3.2% at EUR 153.43 intraday (~14:45 UTC, day range EUR 150.46-154.85), recovering Monday's 3% drop; consensus target is ~EUR 197 and the stock is ~20% below the EUR 191.66 52-week high. A EUR 10B+ majority sale would crystallise value for a ~EUR 5.7B-revenue unit, fund grid and gas-turbine capacity, and leave a cleaner AI-power pure play. - GEV:US GE Vernova - accumulate (high) - GE Vernova is the key bottleneck supplier of gas turbines and grid equipment for the AI power buildout: Q2 2026 orders rose 88% organically to $24.2B, total backlog is ~$176B, the gas turbine backlog reached 116 GW (targeting 125 GW under contract by year-end), and H1 free cash flow of $5.1B already exceeded all of 2025. Capacity is being scaled from 20 GW/yr today to 24 GW in 2028 and 30 GW in 2030 with pricing power rising; the stock is ~21% below its 52-week high after a Q2 EPS miss. - HOOD:US Robinhood Markets - accumulate (medium) - Robinhood posted record Q2 2026 revenue of $1.31B (+32% YoY) with a 57% adjusted EBITDA margin and $573M net income, while Gold subscribers hit 4.8M and margin, credit card and banking balances all set records. It is compounding into a full-stack retail financial platform (brokerage, crypto, banking, prediction markets, tokenization via Rothera/WonderFi), and the Clarity Act plus the crypto rally are near-term tailwinds; shares are ~28% off their 52-week high. After a 13% surge last week on Trump's Clarity Act endorsement and a bitcoin breakout, the stock gave back 4.2% to $103.62 on Aug 24 and has bounced 6.1% to $109.89 in the first hour on Aug 25 (intraday ~14:45 UTC), the best mover on the list. There is no single company catalyst: bitcoin is holding ~$79.3K (near last week's highs, -0.3% on the day per Investing.com/CoinGecko), the Nasdaq is rebounding into Nvidia, and Robinhood Chain DEX Arcus launched pTokens that turn perp positions into transferable ERC-20 tokens (The Block, Crypto Briefing), a reminder of the tokenization optionality; Goldman ($123) and Bernstein ($160) targets frame the upside. - MELI:US MercadoLibre - accumulate (medium) - MercadoLibre is Latin America's dominant e-commerce, logistics and fintech platform. Q2 2026 revenue grew 49.8% to $10.17B, its fastest growth in four years and 30th straight quarter above 30%, unique active buyers rose to 89M (+18M YoY), the Mercado Pago credit book grew 75% to $16.4B with a deliberate shift to lower-risk borrowers, and adjusted EPS of $9.19 beat consensus. The stock fell to ~$1,813 after the print on margin compression and has recovered to ~$1,948, still ~24% below its 52-week high, giving an entry into a non-US Internet compounder with a logistics-plus-payments moat comparable to Sea's. - NET:US Cloudflare - buy (high) - Cloudflare's growth is re-accelerating on AI: Q2 2026 revenue rose 36% to $696M, dollar-based net retention improved 6 points to 120%, large customers grew 27% to 4,698, and full-year guidance was lifted to $2.86-2.87B. Its global edge network is the natural control point for agentic and bot traffic (non-human traffic now >50%), and Workers/AI inference give it a second growth engine beyond security and CDN. Shares fell 4.4% to $280.35 on Aug 24 in a software/cloud selloff (Datadog -3%, Nebius -4% as its $5B convertible settled) with no company-specific news, which we read as a better entry rather than a change in the story; consensus target is ~$334. - SE:US Sea Limited - buy (high) - Sea grew Q2 2026 revenue 48% to $7.8B with all three engines firing: Shopee GMV +28% to $38.3B (ad revenue +70%, eight straight quarters of sequential growth), Monee fintech revenue +59% with an $11.1B loan book (+62%) at 1.0% NPLs, and Garena gaming still growing. The stock is ~40% below its 52-week high at ~$116 while consensus targets sit near $155, an unusual growth-at-a-discount setup for a Southeast Asian platform with a widening logistics and payments moat. - SPOT:US Spotify Technology - accumulate (medium) - Spotify crossed 300M Premium subscribers in Q2 2026 (MAU +12% to 777M) with revenue +14% to EUR 4.8B, a record 33.4% gross margin and EUR 655M operating income, and just added $1.5B to its buyback. Pricing power, audiobooks/video podcasts and AI features (Personal Podcasts) plus the Reserved ticketing product extend the monetization runway on a subscriber base no rival can match. - 6861:JP Keyence Corp - buy (high) - Keyence is the picks-and-shovels supplier of machine vision, sensors and measurement systems for factory automation and the emerging humanoid/robotics supply chain; fiscal Q1 (June 2026 quarter) sales rose 33% to JPY 347B and net income 51% to JPY 139B, with overseas sales +39% (Asia +50%, Americas +31%). Operating margins above 50%, a 95% equity ratio and a direct-sales model with no factories give it one of the most durable moats in industrial tech; shares hit an all-time high in mid-August and have since pulled back ~7% to ~JPY 80,900 (flat on Aug 25 morning, no company news overnight) with the global tech selloff, a better entry. - ASML:US ASML Holding - buy (high) - ASML is the sole supplier of EUV lithography and raised 2026 guidance for the second time to EUR 43-45B of sales at a 54-56% gross margin after a Q2 beat (EUR 9.3B sales, EUR 2.9B net income). Management says EUV capacity for 2027 is essentially fully booked with significant 2028 orders already in hand while it adds ~30% EUV capacity in 2027, giving rare multi-year revenue visibility in semicap. - TER:US Teradyne - accumulate (medium) - Teradyne is the leading supplier of automated test equipment for AI compute and HBM silicon and, via Universal Robots and MiR, the largest Western pure-play in collaborative and mobile robots. Q2 2026 revenue more than doubled to $1.33B (+104% YoY) with gross margin up to 59.8%, operating income up nearly 5x to $441M and EPS of $2.38 vs $0.49 a year ago, while robotics grew 33% to ~$100M; AI-related demand is now roughly 70% of revenue. Shares are ~25% below their 52-week high after the semis selloff, adding physical-AI and semi-test exposure the list lacks. ## New news (11) - 2026-08-25 [positive] OPENAI: OpenAI publishes Jalapeño chip benchmarks claiming more throughput per kilowatt than Nvidia Blackwell - OpenAI released first results for its Broadcom-co-designed Jalapeño inference chip: SemiAnalysis's InferenceX benchmark shows more tokens per user and more throughput per kilowatt than current Blackwell systems, per TechCrunch. Hardware lead Richard Ho called it 'a very, very significant performance advance'. Limited deployment starts end-2026, scaling in 2027. Positive for OpenAI's cost curve, a narrative headwind for NVDA a day before earnings. <https://techcrunch.com/2026/08/25/openais-jalapeno-chip-is-built-for-fast-inference-at-scale-benchmarks-show/> - 2026-08-25 [positive] MRVL: Marvell jumps 6% as Rosenblatt ($300) and Susquehanna ($265) raise targets on Google warrant deal - Marvell rose 6.7% in morning trade to ~$243, reversing Monday's 4.7% drop, after Rosenblatt initiated at Buy with a $300 target and Susquehanna lifted its target to $265 from $230, following Wells Fargo's move to $310. Analysts cite Alphabet's warrant for ~59M shares tied to roughly $120B of custom AI product business through 2033 (inference accelerators, storage controllers) and 25%+ sequential optical growth. Fiscal Q2 results land Thursday after the close (Fri ~6:30am AEST). <https://www.investing.com/news/stock-market-news/why-is-marvell-technology-stock-surging-today-93CH-4875594> - 2026-08-25 [positive] NVDA: Nvidia snaps seven-day slide as Raymond James lifts target to $352 on server-CPU growth - Nvidia opened +1.4-1.5% at ~$211.66 after Raymond James raised its price target to $352 from $330, calling the CPU franchise 'strategically important' to Nvidia's ecosystem and forecasting a $201B AI server CPU market by 2030 (44% CAGR); the firm upgraded AMD to Strong Buy in the same note. Consensus for Wednesday's report is ~$92B revenue, with options pricing a ~5.4% move. <https://www.investing.com/news/stock-market-news/top-semiconductor-stocks-for-ai-server-cpu-growth-says-raymond-james-93CH-4875588> - 2026-08-25 [neutral] MACRO: Consumer confidence dips to 89.4 as expectations sink, but stocks open higher on falling oil and yields - The Conference Board index fell 0.8 points to 89.4 in August (90.2-90.3 expected); the Expectations Index dropped 5.8 points to 68.2 while Present Situation rose 6.8 to 121.2 as 'jobs plentiful' improved to 27%. Stocks shrugged it off: at 10:15 ET the S&P 500 was +0.2% at 7,670, Nasdaq +0.6%, Dow +0.1%, the 10-year eased to 4.65% and Brent fell 2.5% to $88. PCE lands Wednesday and Warsh speaks at Jackson Hole on Friday. <https://www.investing.com/news/stock-market-news/wall-st-futures-steady-as-investors-brace-for-nvidia-results-fed-signals-4874359> - 2026-08-25 [positive] BABA: Jack Ma buys HK$600M+ of Alibaba shares; Joe Tsai adds another 720,000 - SCMP (owned by Alibaba) reports founder Jack Ma bought more than HK$600M of Hong Kong shares over consecutive days, signalling 'strong confidence' in the AI plan, and chair Joe Tsai bought another 720,000 shares on Tuesday, after the HK$80B placement at a 3.6% discount. Hong Kong shares rose 1.5% and the ADR is +0.35% at $118.88; BofA kept Buy with a $172 target. <https://www.investing.com/news/stock-market-news/jack-ma-buys-over-hk600-million-in-alibaba-shares--report-93CH-4874991> - 2026-08-25 [positive] NFLX: Wolfe raises Netflix target to $95, says engagement data points to stronger second half - Wolfe Research lifted its Netflix target to $95 from $84 (22x 2028 EPS of $4.41, up from 20x), arguing Q2's soft subscriber and engagement numbers were a scheduling issue: Q2 releases' prior seasons generated ~765M viewing hours versus 1.3B for Q3's returning titles. Wolfe expects stronger H2 results and solid 2027 guidance. Shares rose 1.7% to $81.39. <https://www.investing.com/news/stock-market-news/netflix-engagement-data-points-to-stronger-results-ahead-wolfe-says-4875357> - 2026-08-25 [positive] AAPL: Apple unveils 2nm M6 and quad-die M5 Ultra in new Mac mini and Mac Studio; no September invites yet - Apple surprise-launched a Mac mini from $899 on the M6, described as a 'cutting-edge 2 nm process' chip, and a Mac Studio with the M5 Ultra (36 CPU / 80 GPU cores, 1.2TB/s bandwidth); pre-orders open now, shipping after Sept 22. Apple did not send iPhone 18 event invites today; Gurman still expects them this week for a Sept 9 event. The M6 is the first volume 2nm product from TSMC's biggest customer, supportive for TSM. <https://techcrunch.com/2026/08/25/apple-debuts-its-most-powerful-chip-ever-in-m5-ultra-and-m6/> - 2026-08-25 [positive] GOOGL: Google Cloud launches Gemini Enterprise for Financial Services and Legal with Moody's and Weil - Google Cloud announced industry-specific Gemini Enterprise editions for financial services (automating capital-markets and corporate-banking workflows) and legal, with Moody's supplying ratings and research via an MCP server and law firm Weil partnering, a day after the Verizon deal. Vertical enterprise packaging supports Cloud's +82% growth; shares were flat at $347.24. <https://www.googlecloudpresscorner.com/2026-08-25-Google-Cloud-Launches-Gemini-Enterprise-for-Financial-Services> - 2026-08-25 [neutral] META: Meta up 1% as William Blair sees $100B+ AI-agent opportunity; trial week two turns to Instagram design - Meta rose ~1% to $564.58 after William Blair flagged a $100B+ monetization opportunity in Meta's business AI agents, adding to Monday's report that the Hatch consumer agent launches within weeks. The California youth-addiction trial entered week two with testimony focused on Instagram's design, and analysts note the injunction risk exceeds any fine. <https://stockanalysis.com/stocks/meta/> - 2026-08-25 [positive] FIGR: Figure +3% as EDX Markets integrates YLDS as collateral and treasury asset - EDX Markets, the institutional crypto exchange, will accept Figure's SEC-registered yield-bearing stablecoin YLDS as collateral and hold it as a treasury asset; executive chairman Mike Cagney said institutions 'shouldn't have to choose between yield, liquidity and regulatory certainty'. FIGR rose 3.4% to $39.97. <https://www.prnewswire.com/news-releases/edx-markets-integrates-figures-ylds-as-collateral-and-treasury-asset-302859058.html> - 2026-08-25 [positive] ENR: Siemens Energy board weighs EUR 10B+ majority sale of steam-turbine unit; no ad-hoc yet - Bloomberg-sourced reports say Goldman Sachs is preparing an auction of a majority stake in the Transformation of Industry division (steam turbines, generators, compressors; ~EUR 5.7B revenue) at a valuation above EUR 10B, with CVC, EQT, Bain Capital, Brookfield and KKR evaluating bids. The supervisory board met on Aug 25 to deliberate; no ad-hoc release had been published as of ~14:45 UTC (before the Xetra close), and Handelsblatt (via Stock-World) expects a final decision only after the next quarterly report. Shares are +3.2% at EUR 153.43 intraday (~14:45 UTC). <https://www.briefs.co/news/siemens-energy-plans-to-sell-its-steam-turbine-operations/> ## Notes Scheduled 6h run at 00:40 AEST (10:40 ET). Delta pass: US open, European close, Siemens Energy decision, bellwether and calendar re-check.
Nothing here is financial advice. Holdings and opinions are my own; the "agent" sections are written by an automated research skill and may be wrong. Built 2026-08-26 02:53 UTC.