News linked to both this project and an event.
According to Trend Research, a JPMorgan research report dated September 28, 2026 notes that the technology and AI ecosystem stagnated for three months from June through last week, though valuation downgrades have already become highly pronounced across most sectors. Forward earnings for semiconductors continue to climb by approximately 30%, while software has seen almost no earnings upgrades. Valuations for the Tech Seven Giants have fallen to ten-year lows, trading at nearly one standard deviation below the broader market. Capital expenditures by hyperscalers are projected to grow at a 28% compound annual growth rate through 2030. JPMorgan argues that with cleaner positioning, persistent earnings momentum, and an intact capital expenditure upcycle, it advises re-entering the technology sector and reopening a semiconductor-over-software pair trade. Agentic AI is pushing the CPU-to-GPU ratio from 1:4 to 1:8 toward 1:1, providing tailwinds for CPU-related names.
Odaily News: Physical AI company SiMa.ai has announced the completion of a $150 million Series C funding round, co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, Point72, StepStone Group, and others. AllianceBernstein, Baron Capital, JPMorgan Chase, and the State of Michigan joined as new investors. The company's cumulative funding has reached $500 million, with a valuation of $1.45 billion. It is reported that the funds will be used to accelerate the scaling of its Palette Neat agent software environment, and the company plans to launch a dedicated physical AI chip capable of achieving 1000 dense TOPS of computing power in the first half of 2028. (Businesswire)
Odaily News: Hut 8 announced the completion of a $1.07 billion four-year senior secured revolving credit facility, with JPMorgan serving as Lead Arranger, Bookrunner, and Administrative Agent, Citi, Goldman Sachs, and Morgan Stanley serving as Joint Lead Arrangers and Joint Bookrunners, and a syndicate comprising 12 lending institutions in total. Hut 8 is primarily engaged in energy infrastructure and digital asset mining businesses.
According to Chaohang Research, JPMorgan’s September 24, 2026 research report indicates that U.S. corporate financing surplus in Q2 2026 approached 2% of GDP, marking the highest level for non-crisis periods since data tracking began in 1952. Non-financial corporate surplus stood at approximately 1.5%, the highest for non-crisis periods since 1958. Global equity buybacks are projected to reach $1.7 trillion in 2026, with U.S. corporations accounting for $1.3 trillion. Bitcoin’s production cost is approximately $85,000; after trading below this threshold for 280 consecutive days, the price has finally broken through. Network hash rate and mining difficulty have decreased by roughly 19% and 15%, respectively, from their peaks last October. JPMorgan notes that cash flow growth outpaces capital expenditures, indicating that the corporate sector as a whole does not require additional financing. This financing surplus underpins share repurchases, particularly among firms outside the technology sector. AI-driven capital expenditures are crowding out other spending, keeping overall capex growth moderate, and the exuberance of the late 1990s has yet to return. Bitcoin miners are structurally shifting toward AI operations, lowering forced selling risks, though hash rate expansion has decelerated. Bond futures momentum indicators have moved into more extreme bearish zones, with standard deviation scores for the 10-year U.S. Treasury and German Bunds reverting to -1.7 and -1.5, respectively.
JPMorgan Chase, KeyCorp, and Bank of New York Mellon announced they will raise their prime rates from 6.75% to 7%, with the new rate taking effect on Thursday. This move will directly increase borrowing costs for consumers and businesses.
Odaily News: Amid pressure from AI giants calling for a slowdown, sticky inflation, and the looming threat of rate hikes, US stocks plunged across the board on Monday, with the Philadelphia Semiconductor Index plummeting nearly 6%. Yet JPMorgan reaffirmed its bullish stance against the tide, warning that blind pessimism can easily lead to missing out on gains.Mislav Matejka, JPMorgan's Head of Global and European Equity Strategy, also once again issued a warning to aggressively bearish investors: while surging oil prices do suppress valuations, blindly betting against US stocks is extremely dangerous before the overall earnings expansion of American companies has been disproven. Once US President Trump subsequently attempts to cool tensions in the Middle East through diplomacy, or if third-quarter earnings exceed expectations, the forces of excessive shorting may face a fierce backlash from returning capital.On this basis, JPMorgan as early as August had already raised its year-end target for the S&P 500 Index from 7,800 points to 8,000 points against the tide, and expects earnings per share of its constituent stocks to surge 29% year-over-year to $350.
According to Chaoxiang Research, a JPMorgan research report dated September 9, 2026 notes that since the beginning of 2026, USD-denominated high-grade bond issuance related to AI capital expenditure has reached $266 billion. Of this, mega-cap companies issued $182 billion, data center operators $42 billion, and semiconductor firms $42 billion. This figure surpasses the full-year total of $139 billion in 2025 and is more than nine times the $29 billion issued throughout all of 2024. The report projects that financing needs for AI capital expenditure in the high-grade bond market will reach $2.1 trillion over the next five years.
According to Chaoxiang Research, JPMorgan’s September 6, 2026 research report highlights four reasons supporting a bullish stance on US equities despite heightened volatility in interest rates, exchange rates, and oil prices: strong growth (GDP and EPS forecasts continue to be raised), interest rates are not too high (rising yields reflect economic expansion rather than monetary tightening), the US favors a weak dollar policy, and hedge fund positioning remains neutral to light. August nonfarm payrolls added 162,000 jobs, far exceeding expectations; however, whether to hike rates in September hinges on the September 11 CPI data, with JPMorgan projecting core CPI to rise 0.21% month-over-month. The MSCI World Index has gained 12% year-to-date, while the 10-year US Treasury yield has climbed by only 60 basis points, and earnings growth is currently absorbing valuations.
Odaily News: Robinhood Markets has officially served as an IPO underwriter for the first time, participating in the listing of smart ring maker Oura. Oura filed for its IPO last Thursday, with an expected listing valuation exceeding $11 billion. Goldman Sachs, Morgan Stanley, and JPMorgan are serving as the lead book-runners for the deal, with Robinhood ranking 18th among the 18 underwriters.In June of this year, Robinhood received regulatory approval to conduct underwriting business, and CEO Vlad Tenev previously stated his desire to "disrupt" the IPO market. As an underwriter, Robinhood is expected to gain more influence in the allocation of IPO shares to its retail clients. (The Wall Street Journal)
According to Chaohiang Research, JPMorgan's September 2 investor meeting minutes for NVIDIA indicate that NVIDIA is "comfortable" with its guidance for 70% year-over-year growth in FY28, and this guidance is supply-constrained rather than demand-constrained; with sufficient supply, the business could grow more than double. Inference has become the largest and expanding segment of the data center business. Eighteen months ago, inference and training each accounted for roughly half, but currently inference exceeds training and will continue to rise. Advanced wafers and memory are the two major supply bottlenecks, and NVIDIA maintains close cooperation with TSMC and the three major memory suppliers. The customer base continues to broaden, with OpenAI and Anthropic currently accounting for approximately 20% of end-user demand, which may approach 25% by FY28; new cloud providers now account for over 50% of AI computing infrastructure. Open-source and closed-source models will coexist, and gross margins for model developers are improving. NVIDIA supports long-term demand through revenue sharing, the PORTS-Pike campus, and a $500 billion private capital financing platform. Morgan Stanley maintains an Overweight rating with a price target of $320, based on approximately 20x the expected CY2026 EPS of $15.87.
According to Bloomberg reports, sources familiar with the matter said that AI company Anthropic PBC is finalizing an expansion of its revolving credit facility to $15 billion. The financing arrangement is led by Morgan Stanley, with Goldman Sachs, JPMorgan Chase, and Citigroup also playing key roles. The same four banks are reportedly also set to lead Anthropic's highly anticipated initial public offering (IPO).
According to CriptoNoticias, data from El Salvador's National Digital Assets Commission (CNAD) shows that 233 new tokens were registered in the country's digital asset market in 2026, with 182 concentrated between July and August, accounting for 78.1% of the annual total. The registered assets encompass tokenized stocks of tech giants including Apple, Microsoft, Nvidia, Amazon, Alphabet, and Meta, alongside financial institutions such as JPMorgan Chase, Bank of America, Visa, and Mastercard. The list also features consumer brands like Walmart, Netflix, McDonald's, and Coca-Cola, as well as tokenized versions of indices and assets such as the S&P 500, NASDAQ 100, gold, and U.S. Treasury bonds. Major issuers include MIO 3 MARKETS 1 (101), Monetae Securities (70), and NexBridge Digital Financial Solutions (27). Additionally, 35 tokens originate from local Salvadoran enterprises, covering corporate bonds, commercial paper, real estate financing instruments, and venture capital agreements.
According to Bloomberg, insiders revealed that JPMorgan has initiated preliminary discussions with potential lenders to secure a $5 billion debt financing package to support Volta Infra Holdings Ltd. in constructing artificial intelligence data centers. Earlier this month, Volta AI completed a $300 million venture capital funding round at a valuation of $2.4 billion, with the goal of enabling more technology firms to access costly AI chip resources.
According to Bloomberg, Matthias Reischke, Head of European Investment Grade Financing at JPMorgan, stated that bond issuances by leading artificial intelligence companies are testing the bond market's acceptance of price and premium levels. He noted that the market does not doubt these bonds will successfully complete their issuance; the key lies in the price at which investors are willing to participate. Reischke pointed out that AI-related debt deals will continue to test investor demand and market pricing capabilities.
JPMorgan Chase and Santander will lead financing of up to $15 billion for Argentina's liquefied natural gas project.
Odaily News JPMorgan has warned that despite global major stock indices remaining in an uptrend, markets could face a pullback risk from late summer into early autumn. The bank noted that the internal structure of the U.S. stock market has been deteriorating recently, with capital rotating into defensive assets and investor confidence in artificial intelligence (AI)-related stocks weakening. JPMorgan strategist Jason Hunter pointed out that the current AI trading frenzy bears similarities to the tech stock bubble of 1999–2000, and that overheated positioning in the tech sector could heighten the risk of a correction.In addition, persistently rising U.S. Treasury yields, geopolitical tensions in the Middle East, and a slowdown in consumer spending were also cited by JPMorgan as potential sources of market pressure.JPMorgan believes that the current AI investment cycle still holds long-term growth potential, but in the near term, market valuations, crowded positioning, and investor expectations could expose tech stocks to greater volatility risk.
According to Chaoxiang Research, a Morgan Chase report dated August 19 noted that the individualized neoantigen therapy (INT) co-developed by Moderna and Merck met its primary endpoint of recurrence-free survival in the Phase III adjuvant melanoma trial, with the key secondary endpoint of distant metastasis-free survival also being achieved. JPMorgan previously assigned an 85% probability of success to this trial, viewing the results as in line with expectations and already factored into the stock price prior to the announcement. Moderna’s shares rose in pre-market trading, yet JPMorgan maintained an Underweight rating and a $40 price target, representing a 36% downside from the current $63. JPMorgan noted that the adjuvant melanoma indication contributes only approximately 3% to valuation, and INT data in non-melanoma indications remains the key variable driving valuation. The current valuation model already incorporates roughly $15 per share for the potential value of other indications. The price target is based on a discounted cash flow (DCF) model using a 10.5% weighted average cost of capital (WACC) and a 0% terminal growth rate.
Odaily News, according to sources familiar with the matter, Anthropic expects its IPO scale to match or exceed the record level set by SpaceX. The company is conducting relevant calculations and preparing to publicly submit its IPO application documents as early as the end of August. SpaceX's initial IPO raised $75 billion, which reached $86.2 billion after including the overallotment option.In May of this year, Anthropic raised $65 billion at a valuation of $965 billion, and by the end of July, its revenue run rate reached $65 billion. In addition, the company is working with Morgan Stanley, Goldman Sachs, and JPMorgan to advance the IPO, and is considering adopting super-voting shares to grant CEO Dario Amodei and other co-founders greater control over the company. (BloomBerg)
Odaily News: As Anthropic prepares for an IPO, its annualized revenue run rate had surpassed $65 billion (approximately 92 trillion KRW) as of the end of July, representing a more than sevenfold increase from the end of last year. The figure was disclosed in regular operating data reports shared with major investors.Anthropic's full-year 2025 revenue has already exceeded $9 billion, reaching $47 billion in May this year. Preliminary second-quarter revenue surpassed $11.5 billion, compared to $787 million in the same period last year—a roughly 15-fold increase. Adjusted operating profit is expected to turn profitable.Anthropic has hired Morgan Stanley and Goldman Sachs as lead underwriters for its IPO, with JPMorgan also participating in the transaction. Following its latest funding round, the company is valued at $965 billion, one of the highest valuations among private companies. (ETNews SW)
According to Chaoxiang Research, JPMorgan's expert commentary on August 12 noted that SanDisk will hold an Investor Day on August 13. The market expects management to provide guidance for annual revenue growth of over 20%, flat gross margin, operating leverage driving EPS growth of over 20% to 30%, and significantly reduced cyclicality. Investor communications indicate the market expects the annual buyback ratio to be around 10%. To date, SanDisk has signed 8 customers and 10 LTAs, covering over 50% of FY2027 wafer capacity, with minimum revenue commitments reaching $93.9 billion. The HBM market is moving from standardization to customization; Micron stated that HBM4E will usher in the era of "customized SKUs," and the ratio of HBM encroachment on traditional DRAM capacity has worsened from 3:1 to approximately 4:1. eSSDs now account for 48% of global NAND shipments, up from just 26% a year ago, with industry revenue increasing fivefold year-over-year. JPM judges that the combination of LTAs, HBM customization, and changes in eSSD demand structure is pushing memory chips from a commodity cycle to a structural cycle, and valuation methodologies may need adjustment. Quantinuum's quantum computer commercialization is accelerating, with CY27 revenue guidance exceeding $60 million (+34%); JPM maintains a $97 price target and Overweight rating. Super Micro Computer F4Q26 gross margin of 17.6% exceeded guidance, orders exceeded 6