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An exclusive look inside GE Vernova's largest gas turbine plant in Greenville, South Carolina, offers fresh evidence that the artificial intelligence boom is going strong.

Inside, engineers are working alongside factory workers to speed up production of this complex machine. The company hired 200 workers last year, and 300 more are expected to start working at this factory by the end of the year.

Fueling the growth is AI.

Hyperscalers — companies like Amazon, Google, Microsoft and Oracle — are lining up to buy the company's gas turbines. With AI data centers requiring a considerable amount of energy and bottlenecks in the grid emerging, these companies are increasingly relying on standalone energy sources, like gas turbines.

"Right now, when you need power at scale and you need firm power, the industrial gas turbine is one of the leading solutions for that," Pablo Koziner, chief commercial and operations officer at GE Vernova, told CNBC.

The AI opportunity is prompting leaders from OpenAI and other companies to gain a deeper understanding of industrial design and power generation.

Executives from nearly every major hyperscaler have walked the floor of the factory, according to a person familiar with the visits, who asked not to be named because the details are not public.

Read more CNBC tech newsOracle stock has worst week since 2001 dot-com bust as AI financing concerns escalateOpenAI hasn't held pre-IPO investor meetings or set timeline yet, sources sayOpenAI and Anthropic face new AI reality as users shift from 'tokenmaxxing' to efficiencyOpenAI limits new AI models to 'trusted partners' at request of U.S. governmentThe turbines are massive, at 31 feet tall and weighing 280 tons. One turbine can power roughly half a million homes.

"When we think of what the world needs for electrification and what we need to power this AI surge that we're living, a lot of that stuff comes right out of this factory," said Koziner.

Microsoft just bought seven of them to power its data center in Texas. At 2.7 gigawatts, it's enough electricity to power about 3 million homes. 

GE Vernova turbines are already online at Elon Musk's xAI Colossus 1 campus in Tennessee, and nearly a gigawatt more are being deployed at OpenAI's Stargate project in Texas, according to Cleanview, an organization that tracks data center development. 

Demand for these machines far outstrips supply, with the order book full through 2029. Koziner added that the company is booking more into 2030 and even 2031.

"Today, about 20% of our gas power order book is going to a data center, artificial intelligence-type of application," he said.

One turbine can cost more than $250 million, according to industry estimates. The price has soared, up 300% in the last 3 years, according to analysts at Melius. The steep rise in prices underscores why AI capital expenditure budgets continue to move up, a leading concern among tech investors.

That spending surge has been a boon for GE Vernova, with its stock gaining nearly 60% in the past six months.

Public pushback on data center development and growing environmental concerns could challenge the AI buildout.

GE Vernova said it's working on making its turbines more environmentally friendly.

"We also put a lot of time and effort into the sustainability of these machines," Koziner said. "And the turbine that you're looking at here is two times more efficient than a turbine that we would have produced 20 years ago."

GE Vernova stock chart.

The artificial intelligence boom has long been pitched as a transformative force that would boost productivity and eventually lower costs across the economy.

But this week, investors were confronted with a less discussed consequence of the AI race: higher prices.

Apple and Microsoft both announced product price increases on Thursday, citing soaring costs for memory and storage technologies that have become increasingly scarce as technology giants pour hundreds of billions of dollars into building AI infrastructure.

The moves reinforced growing concerns that, at least in the short term, AI may prove inflationary rather than disinflationary.

"Apple and Microsoft's price rises have struck at the market's fear of inflation, raising worries that, far from being deflationary, the AI boom might be inflationary, particularly for the hard-pressed consumer, hurting rather than aiding economic growth," Chris Beauchamp, chief market analyst at IG, said.

Apple raised prices on several MacBook and iPad models by between $100 and $300, though it left iPhone prices unchanged.

"The rapid expansion of AI data centers has created an extraordinary surge in demand for memory and storage. We have never seen a component price increase this much, this quickly," Apple said in a statement.

The company added that it had "reached a point where we need to begin raising prices on a number of products," while indicating that additional increases remain possible.

The market reaction was swift. Apple shares tumbled 6%, their worst single-day decline in more than a year.

Microsoft announced similar measures.

The software giant said prices of Xbox consoles would rise globally, with increases of $100 for 512-gigabyte models and $150 for one-terabyte versions effective Aug. 1.

The company also said it would discontinue its two-terabyte Xbox model.

The moves added to a growing list of technology manufacturers raising prices this year.

Dell, HP, Lenovo and Asus have all flagged higher prices, while Samsung increased prices on two variants of its Galaxy S26 smartphones in the United States by $100.

The price increases stem from an unprecedented shortage of memory chips.

Memory and storage components have become critical ingredients in the AI boom as hyperscalers race to build increasingly powerful data centres.

Suppliers have shifted production toward high-bandwidth memory chips used in AI servers, leaving consumer electronics manufacturers scrambling for supplies.

"The four largest US technology companies are forecast to spend $725 billion on data centers and AI equipment in 2026 alone. That level of demand for memory chips has created a shortage the supply chain cannot keep pace with," said James Bull at RSM UK.

Bull said it had become increasingly evident that the costs of building the AI economy were being passed on to consumers and potentially to the broader inflation outlook.

Morgan Stanley analysts warned earlier this month that soaring memory prices could trigger "chipflation" across industries.

The brokerage said memory chip prices had risen six-fold over the past year.

"What began as an AI infrastructure bottleneck is now spreading into hardware margins, device affordability, cloud costs, inflation and policy," the bank wrote in a note.

Some economists believe the inflationary impact of AI extends beyond semiconductors.

According to an April note by JPMorgan Asset Management's Chief Global Strategist David Kelly, the enormous spending wave tied to AI development is likely to be inflationary in the near term rather than deflationary because demand is hitting the economy well before productivity gains materialise.

Kelly acknowledged that rising memory-chip prices are one channel through which AI investment could feed into higher prices, but said they do not yet represent a major source of economy-wide inflation.

Instead, he pointed to other emerging pressures. One of the clearest examples is electricity demand.

"One aspect of this demand is spending on electricity. After more than a decade of no growth, US electricity production rose by 2.5% in 2024, 2.4% in 2025 and was up by 3.0% year-over-year in March of 2026," he said, noting that much of the increase was driven by data centre consumption and the growing use of AI models for training and inference.

Kelly said this likely contributed to a 4.6% year-over-year increase in consumer electricity prices in March.

However, because electricity carries a weight of only about 2.5% in the consumer price index basket, higher power costs accounted for just 0.1 percentage point of March's 3.3% annual rise in headline inflation.

The construction boom linked to AI data centres is also creating labour pressures.

Construction workers saw wages rise 4.3% year-over-year in March, outpacing the 3.5% increase recorded across the broader private sector.

However, Kelly said this acceleration was probably driven more by labour shortages than by AI itself.

The total number of US construction workers increased only 0.7% over the past year, partly reflecting a sharp reversal in immigration trends in a sector that has historically relied heavily on immigrant labour.

Kelly, however, said it was unlikely that most corporations had so far realised significant cost savings from deploying the latest AI models and even less likely that any savings had been passed on to consumers.

"There is a small but growing number of layoff announcements explicitly attributed to AI and there are some signs of diminished hiring of entry-level workers in the most AI-exposed industries," he said.

He added that fears that AI will "take your job" could also be making workers more cautious, with economywide year-over-year wage growth falling to an almost five-year low in March.

However, more recent data from global outplacement firm Challenger, Gray & Christmas suggests AI's impact on employment is becoming more pronounced, though.

US-based employers announced 97,006 job cuts in May, with artificial intelligence accounting for roughly 40% of all layoffs announced during the month.

It marked the third consecutive month in which AI was the leading reason cited for job reductions.

"Despite this labor market 'scare' effect, however, it does appear that AI is, on balance, adding slightly to inflation in the short run, although it will be far from the most important inflation driver. If this continues to be the case, over say, the next two years, then this alone would negate the idea that a disinflationary impulse from AI supports the need for short-term interest rate cuts," Kelly said.

He expects AI to become a powerful disinflationary force over the longer term as productivity gains begin to emerge and spread across the economy.

Goldman Sachs has echoed that assessment, saying AI is currently adding to inflationary pressures even though it should ultimately lower production costs and lift economic growth.

"We expect artificial intelligence to deliver large productivity gains over the next several years, boosting the economy's potential growth rate and putting downward pressure on production costs. So far, however, AI is boosting US inflation," Goldman Sachs economists wrote last month.

Mechanical and electrical contracting services company Comfort Systems USA (FIX 7.95%) is a major winner from surging artificial intelligence (AI) data center investment. A high proportion of a data center's cost is in mechanical, electrical, and plumbing (MEP) systems, not least to ensure adequate cooling for heat-intensive IT racks. That's led to booming demand for the company's services and an incredible 1,160% return for investors over the last three years.

Comfort Systems revenue growth and margin expansion The increase comes down to surging orders driving backlog and revenue growth, along with margin expansion. The growth in its backlog (shown below) leads to highly predictable revenue growth in the future.

Data source: Comfort Systems presentations. Chart by the author.

Permanent margin expansion? Turning to the question of margin expansion, it comes from a combination of being able to selectively bid on complex and higher-margin AI data center projects, a natural leverage opportunity, as the marginal increase in revenue isn't accompanied by a significant increase in overhead costs, and the increase in its modular revenue, which represented 17% of its revenue in the first quarter of 2026.

Modular systems are manufactured at Comfort Systems locations (rather than onsite by tradespeople) and then transported and fitted onsite. It's a solution that confers several benefits for Comfort Systems and facility owners, such as optimizing MEP labor, improving quality control, and ensuring no disruption to the critical path of construction.

Although management doesn't break out modular revenue margins, it acknowledges its role as a contributor to the company's profit margin expansion in recent years. Moreover, management is expanding its modular capacity by 3 million square feet in 2025 to 4 million square feet by the end of 2026.

Data by YCharts.

Trading at 45 times expected 2026 earnings, the stock's valuation is arguably up with events. Still, if you think the AI data center spending boom is in its early innings, the momentum in orders and backlog growth could take the stock higher.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Comfort Systems USA. The Motley Fool has a disclosure policy.

The beating heart of the artificial intelligence (AI) boom is, without a doubt, Nvidia (NVDA 1.42%). The chipmaker's graphics processing units (GPUs) -- the specialized chips that do the heavy math behind AI -- power the data centers that train and run ChatGPT, Claude, and the vast majority of AI models.

It's no surprise, then, that Nvidia has managed a multiyear win streak nearly unmatched in the modern era. In its fiscal 2022, the company booked $26.9 billion in revenue. Over the last 12 months, it booked nearly 10 times that -- $253.5 billion.

The stock has followed suit, up more than 600% since January 2022.

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That kind of run can make an investor nervous. As unstoppable as Nvidia looks, there are real risks here, and most of them have been talked to death -- customer concentration, fierce competition, the physical limits of the AI build-out. But the one I think matters most still flies under the radar.

Nvidia's fortunes depend on big tech's spending spree The AI boom is being fueled, in large part, by the capital expenditures (capex) -- the money a company sinks into long-term assets like buildings and equipment -- of just a handful of firms. Big tech names like Meta, Alphabet, Amazon, Microsoft, and Oracle are spending on a scale we've never seen. Last year alone, these five shelled out a combined $412 billion -- well over twice the total just two years prior.

That capex is the lifeblood of the AI economy. It flows to the construction firms building the data centers, the neoclouds operating them, and, most critically, to chipmakers like Nvidia.

So if that spending slows, Nvidia is in trouble. That much is obvious. What's not obvious is why it might.

Why big tech's profits look better than they really are Investors have stomached the enormous spending these past few years for one simple reason: They've watched big tech's earnings grow right alongside it. You see earnings per share (EPS) -- a company's profit divided across its shares -- jump 100%, and you stop worrying about the bill. Why fret about spending when profits are exploding?

Here's the thing: There's a lag in the system, and that profit growth could soon look a lot smaller than it does today.

When Meta spends $50 billion on Nvidia chips, that doesn't hit the books as an expense all at once. It counts as capex, and Meta can spread the cost over time. Say, $10 billion a year for five years.

That's depreciation: spreading the cost of a big purchase across the years a company expects to use it. There's nothing shady about it. It's the same thing every business with trucks or factories has always done.

What's different is the scale and the timing. A company often doesn't start the depreciation clock until the equipment actually goes into service -- and given how long it takes to build an AI data center, that can be a long wait.

Image source: Nvidia.

The depreciation wall is coming We're in a stretch where revenue is climbing while the true cost of all those chips hasn't fully shown up in earnings yet -- a "golden window where everybody looks good," as one Morgan Stanley analyst put it. That period won't last. A wall of depreciation is coming, and when it lands, it could drag down big tech's reported earnings.

And that's when investors may start to care about the spending. Faced with shrinking earnings, the Metas and Amazons of the world could trim those massive capex plans. Fewer dollars spent means fewer chips ordered, and fewer chips is bad news for anyone holding Nvidia.

Nvidia's stock could fall before its sales do Now, bulls will tell you Nvidia's order book is booked solid -- CEO Jensen Huang says he expects a $1 trillion backlog by the end of the year -- so there's not a real risk to Nvidia's sales coming any time soon.

I don't discount that, but stock prices are based on where investors think things are headed. Which means that Nvidia shares can take a hit well before Nvidia's actual order book does. All that's required is for investors to believe big tech is likely to scale back in the coming years.

What investors should watch for The real questions are when this happens and how big the hit will be -- and, I'll be honest, no one knows. You can see the uncertainty in Wall Street's own forecasts. Analysts' revenue targets for big tech over the next few years are fairly tight. Their depreciation estimates are all over the map.

None of this makes Nvidia a bad company -- it's a great one, selling every chip it can make. But Nvidia relies on capex spending continuing to expand. That could slow once investors start to see the true cost of that spending show up in income statements. For my money, the depreciation wall is a big reason I'd think twice before buying Nvidia shares today.

Market activity across the Jito network has accelerated significantly of late. 

The protocol has generated $1.75 billion in gross revenue, making it one of the strongest-performing projects in the Solana ecosystem. Most of that revenue—about 81%—came from MEV rewards, while staking rewards accounted for the remainder.

These metrics suggest Jito’s infrastructure is handling more economic activity as users continue to rely on the protocol for staking and MEV services. That’s not all though as that growth is also beginning to show up elsewhere.

Source: DefiLlama Is the revenue growth translating into user activity? In fact, network participation has strengthened over the past few days too.

The number of active addresses registered a major hike, pointing to significant engagement across the ecosystem. At the same time, trading volume expanded by nearly 90% to $102 million over the last 24 hours.

These metrics often move together.

More active addresses usually indicate broader user participation, while an uptick in trading volume often means capital may be flowing back into the market. Together, they seemed to paint a picture of increasing network activity rather than a short-lived spike in speculation.

That makes the recent revenue milestone more meaningful too. It is evidence that the protocol isn’t just attracting attention—it is also generating sustained economic activity.

Source: Santiment Is the market beginning to recognize that growth? Well, the improving fundamentals are now starting to appear on the chart too.

After spending months consolidating, JTO broke above a bullish flag pattern on the daily timeframe. Since then, the price has continued to respect an ascending trendline that has produced multiple rebounds since early May.

If the momentum holds, the trendline resistance could be the next target for the token’s buyers.

In fact, the technical structure appeared to be catching up with what on-chain data has been showing for weeks. Whether the breakout develops into a larger rally will ultimately depend on whether network activity continues to expand.

At the time of writing, the latest metrics hinted at a bullish run continuation. Revenue has been growing, users are becoming more active, and trading participation registered a hike too.

In other words, the recent price breakout may simply be the market beginning to reflect those improving fundamentals.

Source: TradingView Final Summary Jito generated $1.75 billion in protocol revenue, highlighting sustained network usage. Hike in active addresses and a $50 million uptick in trading volume coincided with JTO’s breakout above a multi-month bullish flag.

Chainlink just had its two busiest days of the year for new wallet creation, with each day crossing the 3,000 threshold. The data, tracked by Santiment, points to a network that’s quietly building momentum even as the broader crypto market remains indecisive.

The numbers behind the surge The two record days each saw more than 3,000 new Chainlink wallets created, making them the highest on-chain growth days LINK has posted in all of 2026.

Non-micro wallets, defined as addresses holding at least 1 LINK, have climbed to approximately 535,000. That figure hasn’t been reached since December 2022, roughly three and a half years ago.

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The mid-tier holder cohort is growing too. Wallets containing 1,000 or more LINK hit 25,420 in 2026, a new yearly high.

Addresses holding over 100,000 LINK reached an all-time high of 805 in May 2026, representing an 8.2% increase over the previous seven weeks.

Token unlocks didn’t kill the momentum In June 2026, Chainlink executed a quarterly token unlock of roughly 21 million LINK, worth approximately $166 million at current market prices. The wallet growth continued right through the unlock period without any visible disruption.

Why traditional finance keeps showing up On June 22, 2026, Chainlink launched its APAC Equities Streams, a product designed to bring equity market data on-chain for the Asia-Pacific region.

What this means for investors The whale accumulation trend is particularly telling. An 8.2% increase in wallets holding over 100,000 LINK over just seven weeks suggests that large holders are building positions with intent.

Quarterly token unlocks will continue to introduce new supply, and at $166 million per quarter, that’s a persistent headwind that requires consistent demand to offset.

Investors should also watch whether the non-micro wallet count continues climbing toward its previous peaks or plateaus near the 535,000 level. A sustained push above December 2022 levels would confirm that this cycle’s adoption is genuinely surpassing the previous one.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

TLDR: Aave V4 will enable onchain securities lending for tokenized stocks, removing broker intermediaries entirely. The global securities lending market holds $4.6 trillion in loans and generates $35 billion annually. Brokers currently retain 50–85% of borrow fees, leaving asset holders with only a minimal revenue share. Aave founder Stani Kulechov confirmed the protocol is expanding its TAM beyond crypto to all asset classes. Aave is positioning itself to capture a share of the global securities lending market through its upcoming V4 upgrade.

The protocol plans to bring tokenized stocks onchain, enabling users to earn borrowing fees without brokers taking the majority of revenue.

Aave executive Luigi D’Onorio DeMeo outlined the move on X, noting a market with roughly $4.6 trillion in securities on loan annually. The protocol aims to remove intermediaries and offer full borrowing rates directly to users.

Aave V4 Opens the Door to Tokenized Equity Lending Prime brokers and retail platforms currently dominate the securities lending business. Firms like Robinhood and Schwab lend out client-held stocks to earn revenue.

DeMeo laid out the imbalance clearly on X, stating that these platforms “typically keep 50–85% of the borrow fees, passing only a small share back to you.” Only a fraction of that revenue flows back to the actual holders of those securities.

Prime brokers and retail platforms like Robinhood and Schwab, etc earn sizable revenue by lending out the stocks that individuals/funds hold in their account. They typically keep 50-85% of the borrow fees, passing only a small share back to you.

More broadly, the Securities… pic.twitter.com/amXL9rVg0h

— Luigi D'Onorio DeMeo (@luigidemeo) June 26, 2026

Aave V4 is designed to change that arrangement entirely. The upgrade will allow users to supply tokenized stocks directly onchain.

From there, users can earn the full borrow rate without a middleman capturing most of the return. DeMeo described the model as one that offers “real-time transparency, dynamic pricing, no rehypothecation and no middlemen taking the lion’s share.”

The protocol also plans to eliminate rehypothecation, meaning collateral cannot be reused in layered transactions. That removes a major risk factor commonly associated with traditional securities lending operations.

Users retain direct exposure to their assets without hidden leverage from intermediaries. The structure is intended to give holders meaningful control over how their securities generate returns.

Aave founder Stani Kulechov reinforced this direction publicly on X. He wrote that “Aave is expanding its TAM from crypto assets to all assets with securities-backed loans and securities lending.”

The post came in direct response to DeMeo’s outline of the V4 roadmap. Together, both statements confirm the protocol is moving deliberately into traditional financial market territory.

A $35 Billion Annual Revenue Pool Now Within Reach The global securities lending market generates approximately $35 billion in annual revenue. DeMeo noted that “the securities lending market sees roughly $4.6 trillion in securities on loan globally,” with brokers capturing the majority of that revenue pool.

Asset holders receive only a minor cut of what their securities generate. Aave’s V4 launch is positioned as a direct response to that structural gap.

The go-to-market strategy for tokenized equities will be built around utility within Aave V4. Rather than tokenizing stocks purely for speculative trading, the focus is on enabling productive use through lending.

DeMeo stated that “the GTM for tokenizing equities will be providing utility with Aave V4.” Securities lending is a proven revenue-generating mechanism in traditional finance, and Aave is bringing it onchain from day one.

The protocol’s approach also addresses transparency concerns common in traditional lending markets. Onchain infrastructure allows open verification of which assets are on loan and at what rates.

That level of visibility does not exist in most broker-operated lending programs. Users can track their returns in real time without relying on periodic statements from intermediaries.

Aave’s push into securities lending marks a meaningful shift in how the protocol defines its market. Previously, the focus was on crypto-native collateral and borrowing.

Now the protocol is actively targeting traditional financial markets through tokenized asset infrastructure. The $4.6 trillion securities lending pool represents a target that extends well beyond anything Aave has previously addressed.

SOL has been holding steady in the $71 to $74 range in late June, a small but meaningful show of resilience for a token whose underlying network is flashing some concerning signals. The token’s stability isn’t coming from the usual suspects. Instead, it’s being buoyed by a sector that barely existed on Solana a year ago: tokenized stock trading.

Solana’s traditional DeFi metrics are in retreat. Its total value locked has slid to roughly $4.8 billion, a far cry from previous peaks above $12 billion. DEX volumes dropped approximately 31% quarter-over-quarter in the first quarter of 2026.

Tokenized stocks are doing the heavy lifting Solana has quietly become the dominant chain for tokenized equities, and “dominant” might be an understatement. On June 20, the network captured roughly 99% of all tokenized stock DEX trades. That’s not a typo.

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Daily trading volumes for tokenized stocks on Solana have topped $200 million. Weekly volumes recently crossed the $1 billion mark.

Backed Finance has been a key driver, issuing 61 tokenized equity assets on the Solana network. Ondo Global Markets has also entered the picture, bringing tokenized US stocks and ETFs to the chain.

The DeFi decline in context The TVL drop from above $12 billion to around $4.8 billion is hard to ignore. That’s a decline of more than 60% from peak levels. A 31% quarter-over-quarter decline in DEX volumes during Q1 2026 adds to the picture.

What makes the current situation unusual is the divergence. Normally, falling TVL and shrinking DEX volumes would translate directly into token price weakness. SOL’s ability to hold the $71 to $74 range despite these headwinds suggests that traders are pricing in the tokenized equities story as a legitimate growth vector.

What this means for investors Weekly tokenized stock volumes just hit $1 billion on Solana. Tokenized equities are still a fraction of overall onchain activity, but they’re growing while traditional DeFi contracts.

Backed Finance’s 61 issued assets and Ondo Global Markets’ expansion onto Solana suggest institutional-grade players are betting on this trend accelerating. They’re building infrastructure for bringing traditional financial assets onchain, and they’re choosing Solana as their home base.

Investors watching SOL should track two metrics above all else: the growth rate of tokenized equity volumes on Solana, and whether TVL stabilizes around the $4.8 billion mark or continues declining.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab

June 26 (Reuters) - Apple (AAPL.O), opens new tab is lobbying the Trump ‌administration for clearance to buy memory chips from ChangXin Memory Technologies, a Chinese company the Pentagon has put on a blacklist, the Financial ​Times reported on Friday.

The iPhone maker has lobbied the ​White House for approval aimed at easing financial pressure ⁠on the company from rising memory chip prices, the ​newspaper said, citing unnamed sources.

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The White House, Apple and CXMT did ​not respond to requests for comment from Reuters outside business hours.

The lobbying push underscores the bind facing major U.S. technology companies as soaring memory ​chip costs collide with Washington's national security restrictions on ​Chinese chipmakers.

Apple approached the Commerce Department more than a month ago and also ‌engaged ⁠other administration officials and allies in Washington, one person told the FT.

CXMT, China's top memory chipmaker, was designated as a Chinese military company by the Defense Department under the Biden ​administration. The company, ​among others, ⁠was approved by an interagency committee last year for addition to the Commerce Department's Entity List.

U.S. ​companies cannot ship goods, software and technology ​to companies ⁠on the list without a license, which is likely to be denied.

Apple raised iPad and MacBook prices on Thursday, saying it could ⁠no ​longer shield customers from soaring memory ​and storage chip costs driven by the AI industry's data center buildout.

Reporting by ​Disha Mishra in Bengaluru; Editing by Jacqueline Wong and William Mallard

Our Standards: The Thomson Reuters Trust Principles., opens new tab

One Source of Truth for Sui's Performance@SuiNetwork has entered a data partnership with @tokenterminal, bringing its onchain financial and usage metrics onto the platform that institutional investors treat as the standard for cross-chain comparisons. The move gives investors, developers, and the broader community a single, standardized view of the network's performance, covering everything from daily active users and transaction counts to fees and revenue.

Token Terminal transforms raw blockchain data into comparable, institutional-grade metrics. The platform covers more than 100 chains and 1,200 applications, applying consistent business logic so that cross-protocol comparisons are defensible rather than apples-to-oranges. Its data is also accessible via the Bloomberg Terminal, giving traditional finance professionals a direct line to onchain fundamentals.

The Sui partnership follows a similar playbook Token Terminal has used with other layer-1 networks. When Cardano signed on, the integration brought standardized revenue, active user, and validator data into Token Terminal's reporting framework, with the data subsequently flowing to platforms including Bloomberg Terminal, Binance, and CoinGecko. Ronin and Aptos have taken the same route. For Sui, the practical effect is the same: analysts and institutions can now pull its metrics into their own models programmatically via API, without having to compile and format data independently.

Why Transparency Matters for Institutional CapitalThe timing reflects a broader dynamic in crypto markets. Institutional allocators increasingly require standardized, auditable data before they commit capital to a network. Sui's architecture, built around a novel object-centric data model and the Move programming language, produces onchain data that looks structurally different from Ethereum or Solana. Having that data normalized and presented through a platform institutions already trust reduces a meaningful friction point for due diligence.

$SUI is currently a top-30 asset by market capitalization. The network has been expanding its institutional footprint across multiple fronts in 2026, including regulated stablecoin infrastructure and banking partnerships. Transparent, comparable onchain reporting through a platform like Token Terminal fits that broader push. If standardized metrics make it easier for allocators to screen and evaluate Sui alongside competitors, the network's bet is that the data will speak for itself.

Sources:
Sui Overview, Token Terminal
Cardano partners with Token Terminal, Crypto Briefing
Ronin Data Partnership, Token Terminal

Shares of digital banking specialist SoFi Technologies (SOFI +3.58%) have had a rough 2026. As of this writing, the stock is down about a third year to date, sliding from about $26 at the end of 2025 to around $18.

But while many investors have been selling, the company's CEO has been doing the opposite. Anthony Noto has repeatedly stepped into the market to buy SoFi shares this year, most recently in mid-June.

When a chief executive buys his own stock with his own money -- especially after a steep drop -- it tends to get investors' attention.

Does Noto's conviction make SoFi a contrarian opportunity? Or is the sell-off a fair reflection of the company's risks?

Image source: Getty Images.

The CEO keeps buying On June 16, Noto bought 13,888 shares of SoFi on the open market at an average price of about $18 apiece, lifting his direct stake to nearly 12 million shares. And that purchase wasn't a one-off. Noto has added to his position several times in 2026, including in March and May, buying more each time the stock fell.

Insider buying like this is worth watching because executives understand their business far better than outside investors do. And open-market purchases carry particular weight. Unlike shares granted as compensation, these are bought with the executive's own cash -- a direct bet that the stock is worth more than the market currently thinks.

That said, Noto's recent buys, while notable, are small relative to his overall stake.

The more useful question is whether SoFi's underlying business backs up his confidence.

The business behind the buying On that front, Noto has plenty to point to. SoFi's first-quarter net revenue rose 43% year over year to a record $1.1 billion, as the company added a record 1.1 million members and pushed its total membership up 35% from a year earlier to 14.7 million.

Profits are scaling even faster than sales. SoFi's first-quarter net income more than doubled from the year-ago period to $167 million, and earnings per share doubled to $0.12. It was the company's 10th consecutive profitable quarter -- a notable milestone for a business that was losing money just a few years ago. Loan originations, meanwhile, reached a record $12.2 billion.

The company is also still finding new ways to grow. In late June, SoFi launched Composer by SoFi, an artificial intelligence (AI)-powered investing platform that lets users build, test, and automate investing strategies using everyday language.

"Composer has built one of the most innovative AI-powered investing platforms available to retail investors today," said Noto in the company's press release about the launch.

The platform emerged from SoFi's acquisition of Composer earlier this year, and the company plans to weave it into its SoFi Plus membership over time.

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So, why is the stock down so much?

The most likely answer is valuation. Even after the sell-off, SoFi trades at about 40 times earnings -- not cheap. But the multiple looks more reasonable measured against the company's growth. On the roughly $0.60 in adjusted earnings per share management expects SoFi to earn this year, its forward price-to-earnings ratio is about 29. For a business growing revenue north of 40% and rapidly expanding profits, that's hardly egregious.

The bigger concern is what SoFi is at its core: a fast-growing lender. Lending is cyclical and carries real credit risk. A weaker economy could push loan losses higher and pressure profits quickly -- and that risk, more than the valuation, is likely what has investors cautious.

Overall, SoFi's business continues to demonstrate impressive momentum. But I'd still be cautious. Shares aren't as expensive as they used to be. But they're not cheap either.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP (“GPWR”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Tang v. Futu Holdings Limited, et al., Case No. 1:26-cv-05453, on behalf of persons and entities that purchased or otherwise acquired Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FUTU) securities between May 24, 2023 and May 27, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

IF YOU SUFFERED A LOSS ON YOUR FUTU INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On December 30, 2022, the China Securities Regulatory Commission (“CSRC”) issued a statement that Futu has conducted cross-border securities businesses with domestic investors in mainland China without regulatory consent. As a result, Futu was banned from opening new accounts from mainland Chinese investors and soliciting new business from mainland investors.

Then, on May 22, 2026, before the market opened, Reuters published an article reporting that the CSRC, along with seven other government agencies including the central bank, had launched a crackdown aimed at “brokers it accused of illegally moving money to foreign markets” including “overseas firms and their local partners operating without approval.” The article reported “online brokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, the securities regulator said.”

On the same date, pre-market, Futu issued a press release disclosing that it had received a Notification Letter from the CSRC. The Company reported the letter states “certain Futu entities in mainland China and Hong Kong … without obtaining the requisite licenses or approval, conducted securities business, public fund sales business and futures business in mainland China.” The letter further states the CSRC “proposes to order the Related Companies to rectify or cease such activities, confiscate illegal gains, and impose fines, with the total proposed penalty amounting to approximately RMB1.85 billion (approximately USD271 million).” Further, the regulatory authority “proposes to impose a personal fine of RMB1.25 million (approximately USD 183,575) on Mr. LI Hua, the founder and CEO of the Company.”

On this news, Futu’s stock price fell $34.10, or 27.5%, to close at $89.76 per share on May 22, 2026, on unusually heavy trading volume.

Then, on May 28, 2026, before the market opened, Futu issued a press release reporting financial results for the first quarter 2026, including net income of HK$831.0 million (US$106.0 million) after giving effect to the proposed penalties comprised of: “(i) confiscation of illegal gains of approximately RMB470 million [approximately $69.21 million USD], and (ii) imposition of fines of approximately RMB1.38 billion, [approximately $20 billion USD] in an aggregate amount of approximately RMB1.85 billion.” The press release reported this adjustment under the Company’s financial statements as “Others, net” in its statements of comprehensive income for the applicable period.

On this news, Futu’s stock price fell $5.31, or 4.8%, to close at $104.91 on May 28, 2026, on unusually heavy trading volume.

What Is the Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Futu was not in compliance with the requirements of the CSRC, including because the Company continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu’s financial results were overstated; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired Futu securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.

Contact Us to Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that, for the fiscal year ending January 30, 2027 ("fiscal year 2026"), the Company currently expects to generate Adjusted EBITDA in excess of $600 million, compared to Adjusted EBITDA of $345.4 million in fiscal year 2025.

GameStop's leadership team remains focused on advancing the proposed acquisition of eBay, Inc. ("eBay"). Additional materials regarding the proposed transaction are forthcoming.

A Current Report on Form 8-K furnishing the Company's fiscal year 2026 outlook has been filed with the Securities and Exchange Commission and is available at www.sec.gov and on the Company's investor relations website at investor.gamestop.com.

NON-GAAP MEASURES AND OTHER METRICS

As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), GameStop may use certain non-GAAP measures, including adjusted EBITDA. Adjusted EBITDA is a supplemental financial measure of the Company’s performance that is not required by, or presented in accordance with, GAAP. We believe that the presentation of this non-GAAP financial measure provides useful information to investors in assessing our core operating performance, financial condition and results of operations. We define adjusted EBITDA as net income before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs (including severance and other costs), business divestitures, asset impairments, gain (loss) on digital assets and related receivables, unrealized gain (loss) on derivative assets, and other non-cash charges. Net income is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include:

certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, results of operations or cash flows; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA is provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA may be defined and determined differently by other companies in our industry, our definitions of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

With regards to forward-looking guidance for adjusted EBITDA, we are not able to reconcile the forward-looking non-GAAP measure of adjusted EBITDA to the closest corresponding GAAP measure, net income, without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by the use of terms such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "pro forma," "seeks," "should," "will" or similar expressions. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: the performance of our business and our ability to generate earnings in line with our guidance; economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season and on the popularity and sale of trading cards; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; how the Company incorporates artificial intelligence into workflows and processes, including customer-facing and operational activities, and challenges with properly managing its use; the Company’s ability to manage its profitability and cost reduction initiatives; the Company’s ability to complete its proposed acquisition of eBay Inc.; changes in senior management or the Company’s ability to attract and retain qualified personnel; the Company is highly dependent on the services of the Company’s Chairman of the Board and Chief Executive Officer, Ryan Cohen; if the grant of a 100% performance-based nonqualified stock option award (the “CEO Performance Award”) to Mr. Cohen is not approved by the Company’s stockholders or if the Company is unable to adequately incentivize Mr. Cohen to maintain his focus and priorities on the Company, the Company's ability to execute on its strategy and achieve its growth goals may be adversely impacted; the CEO Performance Award, if and to the extent the stock options associated become vested and are exercised, would result in dilution to the Company’s stockholders and could impact the Company’s stock price; potential damage to the Company’s reputation or customers' perception of the Company; the Company's ability, or the ability of the third parties with whom we work, to maintain the security of our information technology systems or data (including customer, associate or Company information); the Company's compliance with stringent and evolving laws and other obligations related to data privacy and security; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; changes to tariff and import/export regulations; potential litigation and other legal proceedings; the value of the Company's investment holdings; concentration of the Company's investment portfolio into one or fewer holdings; the recognition of losses in a particular investment even if the Company has not sold the investment; the execution and timing of share repurchases, if any, under the share repurchase authorization; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; the issuance of common stock upon the exercise of the warrants declared as part of the October 7, 2025 distribution to the holders of record of the Company's Class A common stock and holders of the Convertible Notes, in the form of warrants to purchase shares of common stock (the “Warrants”), may depress our stock price; future issuance of additional warrants may adversely affect the market price of the Warrants and the market price of the Company’s common stock; the Warrants do not automatically exercise, and any Warrant that is not exercised prior to their expiration date will lose all financial value; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to generate sufficient cash flow to fund its operations; the $1.5 billion 0.00% Convertible Senior Notes due 2030 (the “Convertible 2030 Notes") and $2,250.0 million 0.00% Convertible Senior Notes due 2032 (the "Convertible 2032 Notes" and, collectively with the Convertible 2030 Notes, the "Convertible Notes") are the Company’s obligations only, and substantially all of our operations are conducted through, and a portion of our consolidated assets are held by, our subsidiaries; servicing the Convertible Notes requires a significant amount of cash, and the Company may not have sufficient cash flow from our business to make such payments, and we may incur additional indebtedness in the future; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on Company’s financial results; the Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar-denominated stable coins, and to the extent the Company holds Bitcoin or U.S. dollar denominated stable coins, the Company will be exposed to certain risks associated with Bitcoin or stable coins, respectively; the Company’s derivative strategy can expose it to counterparty risk; and the Company’s ability to maintain effective internal control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the Securities and Exchange Commission and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this Press Release speak only as of the date of this Press Release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Preliminary Financial Information

We report our financial results in accordance with U.S. generally accepted accounting principles. All projected financial information in this Press Release is preliminary. These estimates are not a comprehensive statement of our financial position and results of operations. There is no assurance that the Company will achieve its forecasted results within the relevant period or otherwise. Actual results may differ materially from these estimates as a result of actual quarter-end results, the completion of normal quarter-end accounting procedures and adjustments, including the execution of our internal control over financial reporting, the completion of the preparation and management’s review of our financial statements for the relevant period and the subsequent occurrence or identification of events prior to the filing of our financial results for the relevant period with the Securities and Exchange Commission.

No Offer or Solicitation

This communication relates to a business combination involving GameStop and eBay that has been proposed by GameStop (the “Proposed Transaction”). This communication is for informational purposes only and is neither an offer to sell or purchase, nor the solicitation of an offer to buy or sell, any securities (or the solicitation of any proxy or vote with respect to any matter), nor shall there be any sale or purchase, issuance or other transfer of securities (or the solicitation of any proxy or other vote) with respect to the Proposed Transaction or otherwise in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Certain Information Regarding Participants

GameStop and its directors and certain of its executive officers may be considered participants in the solicitation of proxies in connection with the Proposed Transaction, should the Proposed Transaction and any such solicitation occur. Information about the directors and executive officers of GameStop is set forth in GameStop’s definitive proxy statement for the 2026 Annual Meeting of Stockholders to be held July 7, 2026 at 10:00 a.m. CDT, which was filed with the SEC on May 22, 2026 (as supplemented from time to time, the “2026 Proxy Statement”), which is available here, including under the headings “Proposal 1: Election of Directors”, “Director Nomination Process”, “The Director Nominees”, “Director Nominee Qualifications and Experience”, “Biographies of Director Nominees”, “The Board of Directors”, “Corporate Governance”, “Director Compensation”, “Executive Officers”, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”, “Compensation Committee Interlocks and Insider Participation”, “Proposal No. 2: Advisory Vote on Executive Compensation”, “Compensation Discussion and Analysis”, “Offer Letters and Severance/Change in Control Benefits”, “Compensation Committee Report on Executive Compensation”, “Executive Compensation Tables”, “CEO Pay Ratio”, “Pay Versus Performance”, “Equity Grant Practices”, “Securities Authorized for Issuance Under Equity Compensation Plans”, “Audit Committee Matters”, “Certain Relationships and Related Transactions”, “Proposal 4: Approval of CEO Performance Award”, “Summary of the Proposed CEO Performance Award”, “Reasons for Approval of the CEO Performance Award”, “Market Capitalization Hurdles with Cumulative Performance EBITDA Hurdles Create Real Value for Stockholders”, “Background of the CEO Performance Award”, “Key Terms of the Proposed CEO Performance Award”, “Other Details Regarding the Proposed CEO Performance Award”, “The Compensation Committee’s Assessment of the CEO Performance Award”, “Practical Implications of the CEO Performance Award” and “Appendix A: CEO Performance Award Agreement”. To the extent holdings of such persons in the Company’s securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the SEC on March 24, 2026, which is available here.

As of the date hereof, GameStop directly beneficially owns 4,343,725 shares of common stock of eBay, par value $0.001 per share (the “Common Stock”), and has further entered into the long-side of a series of American-style put/call option transactions (the “Put/Call Pairs”), expiring February 23, 2028, with an unaffiliated financial institution counterparty that provide economic exposure to a further 39,046,658 shares of Common Stock. The Put/Call Pairs were only settleable in cash until such time as GameStop provided the unaffiliated financial institution counterparty with reasonable evidence that all applicable filings had been made and any applicable waiting periods had expired or approvals had been received, as applicable, under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act Condition”). On June 3, 2026, the HSR Act Condition was satisfied, and as a result, GameStop (in the case of the call portion of the Put/Call Pairs) and the unaffiliated financial institution counterparty (in the case of the put portion of the Put/Call Pairs) electing to settle the Put/Call Pairs now have the option, but not the obligation, to elect for physical settlement of the shares of Common Stock underlying such Put/Call Pairs in lieu of cash settlement. GameStop does not have voting power or dispositive power with respect to the shares of Common Stock underlying such Put/Call Pairs unless and until such Put/Call Pairs are physically settled for Common Stock. On May 3, 2026, GameStop delivered to the board of directors of eBay a non-binding proposal to acquire all of the outstanding Common Stock that it does not already own at a price of $125 per share of Common Stock, to be paid in a combination of cash and GameStop common stock. As a result of the foregoing, GameStop may be deemed to have direct or indirect interests with respect to eBay that are in addition to, or different from, those of other eBay shareholders.

Further information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement/prospectus and/or other relevant materials to be filed with the SEC in connection with the Proposed Transaction when they become available.

Disclaimer

Any information concerning eBay contained in this communication has been taken from, or based upon, publicly available information. Although GameStop does not have any information that would indicate that any information contained in this communication that has been taken from such documents is inaccurate or incomplete, GameStop does not take any responsibility for the accuracy or completeness of such information. To date, GameStop has not had access to the books and records of eBay.

More News From GameStop Corp.

Portfolio changes position the company to better serve customers and support long-term growth

, /PRNewswire/ -- International Paper (NYSE: IP; LSE: IPC), a leader in sustainable packaging, today announced strategic actions that aim to optimize its network, focus investments on the highest-value opportunities and better serve customers across North America. As a result, the company plans to cease its preprint operations at its Richwood, KY facility, and close its Aurora, IL sheet plant and converting plants in Elk Grove, CA and Barrington, NJ by the end of the third quarter 2026.

The decision reflects International Paper's ongoing strategy to strengthen its cost position, increase capacity, and provide customers with the highest quality sustainable packaging solutions.

"These are difficult but necessary decisions that strengthen our network, focus investments where they create the greatest value and position International Paper to better serve customers and compete for the long term. We are grateful to the employees affected and are committed to supporting them through this transition and ensuring a seamless experience for our customers," said Tom Hamic, Executive Vice President and President, Packaging Solutions North America, International Paper.

International Paper will support impacted employees with outplacement assistance, severance and benefits. The company expects to transition affected customers to other facilities within each region to ensure continuity of supply.

About International Paper (NYSE: IP; LSE: IPC)
International Paper creates sustainable packaging solutions that enable our customers, teammates and shareowners to thrive in an ever-changing world. We are a leader in corrugated packaging, partnering with customers across industries to protect what matters most, strengthen supply chains and create lasting value. Learn more at internationalpaper.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by the use of forward-looking or conditional words such as "intend," "aim," "may," "will," "expect," and "plan" or similar expressions. These forward-looking statements reflect management's current views and are subject to risks and uncertainties that could cause actual results and the timing of events to differ materially from those expressed or implied in these forward-looking statements. These risks and uncertainties include the risk of the Company's ability to achieve the desired outcome and realize the anticipated benefits from its strategic transformation initiatives. These forward-looking statements are also subject to the risks and uncertainties contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission ("SEC") on February 21, 2026, and subsequent reports filed with the SEC. In addition, other risks and uncertainties not presently known to the Company or that we currently believe to be immaterial could affect the accuracy of any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements contained in this press release, whether as a result of new information, future events or changes in expectations.

SOURCE International Paper

Somewhere between a DEX and a full-blown financial exchange, Hyperliquid has built something that most DeFi protocols only claim to be: the dominant venue for trading perpetual futures on-chain. At its peak in 2025, the platform captured more than 80% of decentralized perpetual trading volume. Hyperliquid’s share of on-chain perpetual futures volume sat at 36.4% in January 2026, then climbed to 44% by mid-2026, even as new competitors entered the space.

The scale of what Hyperliquid has actually built Hyperliquid processed $633 billion in trading volume during Q1 2026 alone. Daily volume runs between $3 billion and $10 billion depending on market conditions. Cumulative lifetime volume crossed $4.726 trillion by June 2026.

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The platform runs on its own Layer-1 blockchain, built on a consensus mechanism called HyperBFT. Collateral on the platform settles in USDC. The protocol offers leverage up to 40x across more than 300 markets. Those markets now extend beyond crypto perpetuals into commodities, indices, prediction markets, and real-world assets, all made possible through the platform’s HIP-4 framework.

Revenue, the HYPE token, and what traders are actually paying for Hyperliquid generated over $800 million in revenue in 2025. Recent weekly revenue has averaged around $11 million, which annualizes to roughly $570 million at that pace.

The HYPE token launched on November 29, 2024, with approximately 31% of supply allocated to a user airdrop. It subsequently reached all-time highs near $77. The token has attracted ETF investment interest and serves a functional purpose: revenue generated by the protocol flows back to HYPE holders through distributions and token burns.

Total value locked on the platform has ranged between $1 billion and $6 billion depending on market conditions.

The 30-day trading volume reached $237 billion by mid-2026.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Braze (BRZE +7.41%) shares jumped on Friday, finishing the day up 7.4%. The S&P 500 and the Nasdaq Composite finished down 0.7% and 0.5%, respectively.

The customer-engagement software company's stock is getting a lift from two main catalysts: a "Buy" rating from Goldman Sachs and a broader rebound in software stocks.

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Goldman Sachs sees Braze as a winner On June 24, Goldman Sachs analyst Callie Valenti assumed coverage of Braze with a Buy rating and a $34 price target -- roughly 77% above where the stock had been trading.

Software stocks have been under pressure Braze stock is down about 40% over the past six months as part of a larger sell-off in software stocks. The market has been fearful that AI models from OpenAI and Anthropic could simply replace what software stocks like Braze do. That fear is easing.

Source: Getty Images

Braze's growth is strong, but profitability remains elusive In its most recent quarter, Braze posted revenue of $211 million, up 30% year over year, alongside record free cash flow and a full-year guidance raise.

Unfortunately, the company continues to struggle to turn a profit, losing just shy of $27 million last quarter. If the company can reverse that, Braze stock could take off.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Braze and Goldman Sachs Group. The Motley Fool has a disclosure policy.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The native lending protocol on the XRP Ledger (XRPL) received an important boost today toward final activation. An XRPL Foundation representative known as Vet reported that the built-in amendment gained another critically important "YES" vote.

It came from the official on-chain support of major ecosystem platform xpmarket, which voted in favor of the XLS-65 and XLS-66 upgrade package. The platform's developers confirmed that this step opens the way for Single Asset Vaults, an on-chain bond market, and direct yield generation.

👾 XPMarket has voted YES on XLS-65 and XLS-66!

🚀XPMarket is backing native lending on the XRPL.
These amendments bring Single Asset Vaults and an on-chain Lending Protocol directly to the ledger, unlocking yield, liquidity pools, and credit markets with no external smart… pic.twitter.com/UZi6cSDFtI

— xpmarket.com (@xpmarket) June 26, 2026 The LendingProtocol amendment is currently in VOTING status, and at the moment consensus stands at 20% — 7 out of 35 key validators have voted "YES." For the code to be finally implemented at the network's base level, it needs to reach the threshold of 28 votes and maintain it for two weeks.

As Vet notes, validators have started changing their positions more actively in favor of the update thanks to the community's new, stricter approach to security and amendment review.

HOT Stories

Different kind of crypto lending market for XRPInterest in the event is being fueled by the architecture of the protocol itself. Unlike traditional DeFi based on smart contracts, RippleX embeds lending logic directly into the blockchain core at Layer 1. It consists of two elements:

XLS-65 (Single Asset Vaults): users pool one type of asset, such as XRP or the RLUSD stablecoin, into a shared vault.XLS-66 (Lending Protocol): the system issues fixed-term loans from this pool and distributes income among depositors. You Might Also Like

The main difference from crypto's classic model is that the loans will be unsecured. There is no collateral here, and the entire model is closer to the traditional bond market and credit desks in TradFi. Risks are assessed outside the network through off-chain underwriting: the lender independently verifies the borrower's identity and reliability before issuing funds.

Voting continues, but the ice has broken — application developers on the XRP Ledger have already started designing interfaces so users can interact with loans as soon as validators lock in the final 28 votes.

After remaining untouched for nearly eight years, four Ethereum wallets have suddenly reactivated and executed large-scale sales. On-chain data reveals that these wallets collectively offloaded 33,623 ETH within just four hours, at an average price of $1,560 per ETH.

Wallets awakened after years of inactivityThese four wallets originally accumulated a total of 37,602 ETH in 2018, buying in at an average price of around $830 per token. In the latest transactions, most of these holdings were transferred to exchanges and sold off. According to available information, the total proceeds from the sales reached $52.5 million.

Mini glossary: Lookonchain is an on-chain analytics account that tracks blockchain transfers and large wallet movements. Arkham is a blockchain data platform renowned for tracing wallet activity and associating addresses.

Movements tracked by Lookonchain and cross-checked with Arkham data point to a realized profit of approximately $27.4 million based on entry costs. The article shares the wallet addresses involved and notes that these remained largely dormant since their initial accumulation period.

In its post, Lookonchain highlighted that the ETH had been held for eight years before finally being sold, yet even after all that time, the wallets did not benefit from previous, higher market valuations.

While these sales demonstrate that long-term investors can still lock in gains despite weakened market conditions, the profits remain limited compared to what could have been achieved during peak market rallies.

Profits fall short of all-time highsData shows that on paper, these wallets’ holdings once exceeded $150 million during past bull cycles. However, the owners did not sell during the major surges of 2021 and 2025, passing on peak exit opportunities.

Ethereum reached its all-time high of about $4,946 in August 2025. At that level, the wallets in question were worth exponentially more than the recent selling prices. Instead, the most recent sales occurred with ETH trading around $1,560.

ItemDataInitial amount purchased37,602 ETHAverage entry price$830Amount sold33,623 ETHAverage selling price$1,560Total proceeds$52.5 millionRealized profit$27.4 millionAnalysts point out that the divergence between potential peak value and realized profit exposes missed opportunities during past booms. The rapid completion of these recent sales also underscores a trend of long-term Ethereum holders now liquidating some of their positions.

Available data show that these wallets, after years of dormancy, executed sizable sales in a brief period. This pattern resembles recent behavior among other long-standing Ethereum holders.

Similar moves witnessed beforeThis string of transactions marks the latest example of early Ethereum investors reducing their holdings after years on the sidelines. In March, another early adopter sold roughly $31 million worth of Ethereum.

April likewise saw an ICO participant transfer 10,000 ETH, valued at approximately $23 million, after years of inactivity. With these latest moves, the reactivation of previously idle wallets is under close watch by market observers.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Large LINK holders moved millions of tokens to Binance before Project Pangea.

There has been a sharp increase in Chainlink tokens moving to exchanges just days before the project announced a major banking initiative.

According to on-chain data from the Ethereum network, Binance recorded a net inflow of more than 10.2 million LINK on June 19. This pushed the exchange’s LINK reserves from 84.1 million to 94.3 million tokens in a single day.

LINK Exchange Supply CryptoQuant said the sudden movement also caused the seven-day average netflow to surge by 20,677% compared with its three-month average, as it highlighted an unusual change in exchange activity. The large transfer took place only a few days before Chainlink unveiled Project Pangea on June 23.

The initiative focuses on T+0 foreign exchange settlement, involves more than 80 banks from Europe and South Korea, and represents over $10 trillion in assets under management. Historically, inflows of this size have increased the amount of tokens available for selling on exchanges and have often been linked to higher market volatility. However, LINK’s price reaction remained relatively limited as it fell from around $8 to approximately $7.3 during the period.

The transfers were also found to be highly concentrated among a small group of large holders. The “inflow_top10” metric was nearly equal to the total inflow volume, which suggests that most of the tokens came from a handful of wallets rather than broader retail participation. CryptoQuant added,

“Although Project Pangea represents a potentially meaningful long-term development for the Chainlink ecosystem, the near-term on-chain picture points to increased exchange supply.”

Despite this increased inflow, more users are holding the token during uncertain market conditions. Santiment reported earlier this month that the number of wallets holding at least 1 LINK has climbed above 535,000, which is the highest level seen since December 2022. The increase came even though LINK remains far below its previous cycle highs.

ETF Flows On the institutional side of things, spot LINK ETF flows turned positive again on June 23 after experiencing their first day of net outflows on June 22. The funds recorded $491,000 in net outflows that day. However, sentiment improved quickly as inflows of about $138,000 returned on June 23. Activity then stalled on June 24, with no net flows recorded.

You may also like: Over 535,000 LINK Holders Signal Quiet Chainlink Accumulation Amid Market Uncertainty HYPE ETFs See Rare First-Week Surge as Eric Balchunas Calls Launch Timing ‘Perfect’ Trump-Linked Truth Social Suddenly Pulls Crypto ETF, Analyst Doubts Reasoning Behind Exit Despite the recent fluctuations, data from SoSoValue revealed that total spot LINK ETF inflows for June currently stand at $3.61 million.

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, /PRNewswire/ -- Select Medical Holdings Corporation (NYSE: SEM) ("Select Medical," "we," "us," or "our") confirmed today that its previously announced Agreement and Plan of Merger (the "Merger Agreement," and the transaction contemplated thereby, the "Merger") with an entity affiliated with a consortium led by Robert A. Ortenzio, Executive Chairman, Co-Founder and Director of Select Medical, Martin F. Jackson, Senior Executive Vice President of Strategic Finance and Operations of Select Medical, and Welsh, Carson, Anderson & Stowe ("WCAS" and, together with Mr. Ortenzio and Mr. Jackson, the "Consortium") was approved at a special meeting of Select Medical's stockholders (the "Special Meeting") on June 26, 2026. The closing of the Merger remains subject to the terms and conditions of the Merger Agreement, as described more in detail in the Definitive Proxy Statement on Schedule 14A (the "Definitive Proxy Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") on May 19, 2026. Subject to those terms and conditions, Select Medical expects that the closing of the Merger will occur mid-2026.

Approximately 82.54% of Select Medical's outstanding shares were voted at the Special Meeting, and the Merger was approved by over 79.88% of Select Medical's outstanding shares and over 76.64% of the outstanding shares held by stockholders unaffiliated with the Consortium. Select Medical will file the final voting results in a Current Report on Form 8-K with the SEC.

Advisors

J.P. Morgan and Wells Fargo are serving as joint lead arrangers and joint lead bookrunners in connection with the committed debt financing of the Consortium. Goldman Sachs is serving as the exclusive financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to the Special Committee of disinterested and independent directors of the Board of Directors of the Company. Dechert LLP is serving as legal counsel to Select Medical. Wells Fargo and J.P. Morgan are serving as financial advisors, and Cravath, Swaine & Moore LLP is serving as legal counsel to the Consortium. Barclays is serving as financial advisor, and Ropes & Gray LLP is serving as legal counsel to WCAS. Paul Hastings LLP is serving as legal counsel to the debt financing sources.

About Select Medical

Select Medical is one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States based on number of facilities. Select Medical's reportable segments include the critical illness recovery hospital segment, the rehabilitation hospital segment, and the outpatient rehabilitation segment. As of March 31, 2026, Select Medical operated 103 critical illness recovery hospitals in 28 states, 41 rehabilitation hospitals in 15 states, and 1,912 outpatient rehabilitation clinics in 37 states and the District of Columbia. At March 31, 2026, Select Medical had operations in 38 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com.

About WCAS

WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives, and strategic acquisitions. The firm has raised and managed funds totaling over $33 billion of committed capital. For more information, please visit www.wcas.com.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements. Forward-looking statements use words such as "expect," "anticipate," "outlook," "intend," "plan," "confident," "believe," "will," "should," "would," "potential," "positioning," "proposed," "planned," "objective," "likely," "could," "may," and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to Select Medical's plans, goals, intentions, strategies, financial outlook, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of Select Medical's control. Forward-looking statements are not guarantees of future performance and you should not place undue reliance on Select Medical's forward-looking statements. Forward-looking statements involve significant known and unknown risks and uncertainties that may cause Select Medical's actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. There is no assurance that the proposed Merger will be consummated, and there are a number of risks and uncertainties that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements, including, without limitation: (1) the inability to consummate the proposed Merger within the anticipated time period, or at all, due to any reason, including the failure to obtain any required regulatory approvals for the proposed Merger or the failure to satisfy the other conditions to the consummation of the proposed Merger; (2) the risk that the proposed Merger disrupts Select Medical's current plans and operations or diverts management's attention from its ongoing business; (3) the effect of the announcement of the proposed Merger and results of the Special Meeting on the ability of Select Medical to retain and hire key personnel and maintain relationships with those with whom it does business; (4) the effect of the announcement or pendency of the proposed Merger on Select Medical's operating results and business generally; (5) the significant costs, fees and expenses related to the proposed Merger; (6) the risk that Select Medical's stock price may decline significantly if the proposed Merger is not consummated; (7) the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the proposed Merger and instituted against Select Medical and/or their respective directors, executive officers or other related persons; (8) other risks that could affect Select Medical's business, financial condition or results of operations, including those set forth in the Company's most recent Annual Report on Form 10-K and any subsequent filings; and (9) other risks to the consummation of the proposed Merger. Additional information concerning these and other factors can be found in Select Medical's filings with the SEC, including Select Medical's most recent annual report on Form 10-K. Select Medical does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media inquiries:
Shelly Eckenroth
Senior Vice President, Chief Communications Marketing & Branding Officer
717-920-4035
[email protected]

Investor inquiries:
Robert S. Kido
Senior Vice President and Treasurer
717-972-1100
[email protected]

SOURCE Select Medical Holdings Corporation

You can now trade a memory-chip ETF from your Solana wallet. Sunrise DeFi, a platform built by Wormhole Labs, has launched a tokenized version of the Roundhill Memory ETF, ticker $DRAM, on Solana’s Jupiter exchange.

What $DRAM actually is The underlying asset here is the Roundhill Memory ETF, which trades on traditional markets under the Cboe BZX exchange with the ticker DRAM. That fund launched on April 2, 2026, and quickly attracted billions in assets under management as AI-driven demand for memory chips accelerated.

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Sunrise DeFi’s contribution is wrapping that ETF into a token that lives natively on Solana. The $DRAM token is now live on Jupiter, Solana’s dominant decentralized exchange aggregator, which handles swaps and lending across the ecosystem. This isn’t Sunrise DeFi’s first rodeo. The platform has previously handled the integration of PAX Gold (PAXG) and Ethena’s ENA token on Solana, building a track record of ensuring liquidity from day one for newly tokenized assets.

The bigger picture: tokenized equities flood Solana $DRAM isn’t arriving in isolation. It’s part of a broader wave of tokenized traditional financial products landing on Solana throughout 2026. Ondo Global Markets and Securitize are among the firms actively working to bring tokenized equities and funds to the network. Jupiter has become the natural landing pad for these products, serving as the connective tissue between tokenized real-world assets and Solana’s existing DeFi ecosystem.

Sunrise DeFi, designed specifically by Wormhole Labs to facilitate these integrations, is positioning itself as the go-to bridge between traditional finance products and Solana’s DeFi rails. Wormhole’s cross-chain messaging infrastructure gives it a natural advantage here, since moving assets across ecosystems is literally what the protocol was built for.

What this means for investors Tokenized ETFs remove several friction points from traditional investing. No brokerage account needed. No market hours. No T+1 settlement.

For memory-chip bulls specifically, $DRAM offers a way to express that thesis entirely within the DeFi ecosystem. Instead of holding the ETF in a brokerage and crypto in a separate wallet, traders can now manage both exposures in a single interface. That composability—the ability to use $DRAM as collateral for loans or pair it in liquidity pools—is where tokenized assets genuinely differentiate themselves from their traditional counterparts.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

June 26, 2026 17:22 ET  | Source: DLocal Limited

MONTEVIDEO, Uruguay, June 26, 2026 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a leading cross-border financial infrastructure platform connecting global merchants to emerging markets, today announced that the Company was added as a member of the US small-cap Russell 2000® Index, effective when the US market opens on June 29 as part of the 2026 Russell indexes reconstitution. Membership in the Russell 2000® Index is based on membership in the broad-market Russell 3000® Index. The stock also was automatically added to the appropriate growth indexes.

“Inclusion in the Russell 3000® and Russell 2000® Indexes marks an important milestone for dLocal and reinforces the growing institutional recognition of our platform, our scale, and our continued execution across emerging markets. We believe this inclusion also reflects the scale, market capitalization, and free float we have built as a public company, and will help broaden our shareholder base, improve trading liquidity, and increase visibility among institutional investors as we continue building the financial infrastructure that connects global enterprises to the markets of the future,” said Pedro Arnt, CEO of dLocal.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2025, about $12.2 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

For more information on the Russell 2000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About dLocal

dLocal builds financial infrastructure for markets of the future, connecting global enterprises with billions of emerging market consumers in more than 60 countries across high-growth markets in Africa, Asia, the Middle East, and Latin America. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, and settle funds globally without the need to manage multiple local entities and integrations. For more information, visit www.dlocal.com.

About FTSE Russell, an LSEG Business

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally.

Approximately $21.20 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by LSEG. For more information, visit FTSE Russell.

Forward Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements convey dLocal’s current expectations or forecasts of future events. Forward-looking statements regarding dLocal involve known and unknown risks, uncertainties and other factors that may cause dLocal’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” and “Cautionary Note Regarding Forward-Looking Statements” sections of dLocal’s filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.

Investor Relations Contact:

[email protected]

Media Contact:

[email protected]

People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab

June 26 (Reuters) - Meta (META.O), opens new tab CEO Mark Zuckerberg has urged his lieutenants to explore partnerships with the popular prediction markets Polymarket and Kalshi ​as his company builds a similar app, the New ‌York Times said on Friday, citing three employees with knowledge of the matter.

Meta and Kalshi did not immediately respond to requests for comment, ​while Polymarket declined to comment when contacted by Reuters. ​Reuters could not independently verify the report.

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The social ⁠media company's executives have said Arena, Meta's new prediction market ​app under development, will differ from Polymarket and Kalshi, which accept ​real-money wagers, because it will instead rely on video-game-like "points", the report said.

Prediction markets surged in popularity during the 2024 U.S. presidential election and have ​evolved into an asset class that lets investors wager ​on a variety of events, from monetary policy to sports tournaments.

But they have ‌also ⁠drawn increasing scrutiny as well-timed trades ahead of U.S. President Donald Trump's major policy surprises have potentially led to millions of dollars in profits for unknown traders.

Zuckerberg's target demographic for ​Arena is 18- ​to 34-year-olds and ⁠Meta is aiming to reach at least 100 million monthly active "predictors" for the app, according ​to the report.

Arena is being tested internally and ​may ⁠not be released, the report said, adding that Meta plans to eventually integrate parts of Arena into Facebook and Messenger.

The Times first ⁠reported ​on Tuesday that Zuckerberg recently dispatched a ​small team at his company to create a smartphone app similar to Polymarket ​and Kalshi.

Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Shares of UnitedHealth Group (UNH +2.87%) are up 25% this year and are still trading near its 52-week high. The healthcare giant's stock offers a good combination of revenue growth, a solid dividend, and strong insulation against economic downturns.

The company has bounced back significantly after it had a bad earnings miss and suspended guidance in April 2025, a move that was followed by the resignation of then-CEO Andrew Witty.

Here are reasons why the stock remains a good buy.

Image source: Getty Images.

It's a great dividend stock UnitedHealth Group just raised its dividend by 5% to $2.32 per quarterly share, marking 17 consecutive years of raises, and at the stock's current price, it yields around 2.3%.

The dividend increase shows the company is confident in its ability to handle rising medical costs and other changes. The company produced $19.7 billion in operating cash flow in 2025, equal to 1.5x net income. Cash from operations has consistently exceeded net income.

The stock is a solid choice for total-return and income-focused investors. The company generates massive, highly reliable free cash flow that supports aggressive share buybacks, as it expects to repurchase $2 billion in shares by the end of the second quarter and to maintain a consistently growing dividend.

Today's Change

(

2.87

%) $

11.94

Current Price

$

427.47

Two segments balance the business Unlike pure-play health insurers, UnitedHealth Group operates a highly resilient, diversified model split into two powerhouse segments. One is UnitedHealthcare, its huge insurance arm that served 49.1 million people in the first quarter, including individuals, employers, and government programs.

The other is Optum, its health services business that provides pharmacy benefits, data analytics, and direct patient care to more than 123 million people.

In the first quarter, the UnitedHealthcare side was driving its business. The company reported overall revenue of $111.7 billion, up 2% year over year, with UnitedHealthcare reporting $86.3 billion, up 2% from the first quarter of 2025. Earnings per share (EPS) were $6.90, up less than 1% compared to the same period a year ago, and earnings from UnitedHealthcare again were the catalyst, with earnings from operations of $5.7 billion, up 9%, year over year.

It is still selling at an attractive valuation Though UnitedHealth Group's shares have risen more than 25% this year, its shares are still trading at around 31 times earnings and around 22 times future earnings.

The advantage of healthcare stocks is that people need medical care regardless of the state of the economy. Concerns about rising costs combined with no reimbursement raises on the way for 2027 have compressed the company's valuations into reasonable territory compared to its historical averages and put it in a good position compared to its nearest competitors.

It has strong pricing power that reacts to change UnitedHealth Group's medical cost ratio was 83.9% for the first quarter, down 90 basis points from the same period a year ago. That's the good news. The bad news is that medical cost ratios have been increasing for insurers over the past several years, due to changes under the Affordable Care Act, the rising number of older adults seeking medical care, the rising costs of diabetes and weight-loss medications, and medical advancements tied to high-cost medical devices.

UnitedHealth has a clear playbook for managing the recent industrywide spike in medical utilization. Because commercial plans renew continuously throughout the year, management has already begun implementing a strongly responsive pricing strategy. In its Medicare Advantage plans, the company is adjusting premium pricing, streamlining provider networks, and utilizing advanced tools to filter unnecessary clinical costs. That's a key point because UnitedHealth is the largest Medicare Advantage provider, serving more than 8 million people. In April, CMS finalized a 2.48% payment increase for 2027 Medicare Advantage plans, which was more than what was initially proposed, but doesn't solve long-term price concerns, industry executives said.

The company is using AI to trim administrative costs UnitedHealth Group has launched a massive $1.5 billion enterprise-wide artificial intelligence (AI) initiative. By transitioning traditional, fractured processes to AI-first operations, management expects a 2-to-1 return on investment, translating into nearly $1 billion in direct operating-cost reductions.

The company is deploying artificial intelligence across three core operational fronts to aggressively defend and expand its operating margins. It is using generative AI to handle the first point of contact, reducing the need for expensive call center networks.

Launched in March, its digital companion Avery is a generative AI assistant handling inquiries for employers and Medicare Advantage members. It is set up to resolve complex questions about coverage limits, claim status, and copay estimates instantly. By migrating member navigation to self-service AI, UnitedHealth has already reduced call center volume by 25% as of the first quarter, eliminating significant structural overhead.

It is also using AI to simplify and speed up prescription approval times from eight hours to under 30 seconds and considerably drop processing costs. The company sees its AI engine as not only saving money but also, when outsourced, adding revenue.

About a third of UNH's $1.5 billion AI spend is dedicated to transforming OptumInsight into an AI-first software firm. The data analytics, payment integrity, and fraud-detection models trained internally on UNH's massive data pool are being packaged and sold directly to other hospital networks and insurers, turning an internal cost-saver into a high-margin revenue stream.

SKYRIZI (risankizumab-rzaa) is now approved for patients six years of age and older with moderate-to-severe plaque psoriasis or active psoriatic arthritis Approval includes a new 55 mg pre-filled syringe to support weight-based dosing for those patients weighing less than 40 kg SKYRIZI becomes the first and only IL-23 inhibitor approved in the U.S. for pediatric patients six years of age and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis , /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced the U.S. Food and Drug Administration (FDA) has approved SKYRIZI® (risankizumab-rzaa) for the treatment of children six years of age and older with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy, or active psoriatic arthritis. A new 55 mg pre-filled syringe (PFS) has also been approved to support weight-based dosing for patients weighing less than 40 kg, while the currently available 150 mg PFS and Pen are approved for patients weighing 40 kg or greater.

"Plaque psoriasis and psoriatic arthritis can affect much more than skin and joints – these conditions can shape daily life and disrupt important childhood experiences," said Roopal Thakkar, M.D., executive vice president, research and development, chief scientific officer, AbbVie. "We are proud that SKYRIZI is now the first and only IL-23 inhibitor approved in the U.S. for pediatric patients six years of age and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis. For families navigating these chronic conditions, expanding access to treatments with proven efficacy supports improved disease management and extends established standards of care to younger patients."

Approximately 30% of people who develop psoriasis experience symptoms before age eighteen.1 Each year, approximately 20,000 children under ten years old are diagnosed with psoriasis in the U.S., and an estimated 14,000 children are impacted by psoriatic arthritis.1,2,3 Psoriasis and psoriatic arthritis symptoms in children can interfere with mobility and daily activities, with additional burden on caregivers.4,5

"For children impacted by immune-mediated diseases, childhood can become shaped by doctor appointments, uncertainty and the emotional weight of living with a chronic disease," said Leah M. Howard, J.D., president and chief executive officer, National Psoriasis Foundation. "Having an approved treatment for both skin and joint disease available for our younger patients gives families another much-needed option and offers a measure of hope as they navigate the challenges of these diseases."

Data Supporting SKYRIZI Pediatric Approvals
The pediatric psoriasis approval is supported by data from the Phase 3 OptIMMize psoriasis clinical trial program (NCT04435600; NCT04862286), including data from two lead-in pharmacokinetic cohorts, a randomized efficacy assessor-blinded active controlled cohort (12 to <18 years) and a single arm open label cohort (6 to <12 years). The pediatric psoriatic arthritis approval is supported by the OptIMMize psoriasis clinical trial program as well as population pharmacokinetic modeling and simulation based on well-controlled adult psoriatic arthritis studies.

The safety profile observed in pediatric plaque psoriasis patients treated with SKYRIZI was consistent with the established safety profile of SKYRIZI in adult patients with plaque psoriasis.

"At Week 16 in part 2 of the OptIMMize psoriasis clinical trial program, risankizumab demonstrated clinically meaningful improvements in sPGA and PASI responses, with responses maintained long-term with continued treatment," said Amy S. Paller, M.D., chair of dermatology and professor of pediatrics at Northwestern University Feinberg School of Medicine and study investigator in the OptIMMize program. "These clinical responses, combined with weight-based dosing for younger patients, may help physicians better support a broad range of children living with plaque psoriasis or psoriatic arthritis."

Patient Access and Support
AbbVie is committed to helping people access SKYRIZI and other medicines, including offering a patient support program and co-pay card that may reduce out-of-pocket costs to as little as $0 per month for eligible, commercially insured patients. For those with limited or no health insurance, AbbVie offers myAbbVie Assist, a patient assistance program that provides SKYRIZI at no charge to those who qualify. More information about this assistance program can be found at www.AbbVie.com/myAbbVieAssist.

About SKYRIZI® (risankizumab-rzaa)
SKYRIZI is an interleukin-23 (IL-23) inhibitor that blocks IL-23 by selectively binding to its p19 subunit. IL-23, a cytokine involved in inflammatory processes, is thought to be linked to a number of chronic immune-mediated diseases. SKYRIZI is approved by the U.S. Food and Drug Administration and the European Medicines Agency for the treatment of plaque psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis.

SKYRIZI® (risankizumab-rzaa) U.S. Uses and Important Safety Information
SKYRIZI is a prescription medicine used to treat:

moderate to severe plaque psoriasis in adults and children 6 years of age and older who may benefit from taking injections or pills (systemic therapy) or treatment using ultraviolet or UV light (phototherapy). active psoriatic arthritis in adults and children 6 years of age and older. moderate to severe Crohn's disease in adults. moderate to severe ulcerative colitis in adults. IMPORTANT SAFETY INFORMATION
What is the most important information I should know about SKYRIZI® (risankizumab-rzaa)?
SKYRIZI is a prescription medicine that may cause serious side effects, including:
Serious allergic reactions:

Stop using SKYRIZI and get emergency medical help right away if you get any of the following symptoms of a serious allergic reaction: fainting, dizziness, feeling lightheaded
(low blood pressure) swelling of your face, eyelids, lips,
mouth, tongue, or throat trouble breathing or throat tightness chest tightness skin rash, hives itching Infections:
SKYRIZI may lower the ability of your immune system to fight infections and may increase your risk of infections. Your healthcare provider should check you for infections and tuberculosis (TB) before starting treatment with SKYRIZI and may treat you for TB before you begin treatment with SKYRIZI if you have a history of TB or have active TB. Your healthcare provider should watch you closely for signs and symptoms of TB during and after treatment with SKYRIZI.

Tell your healthcare provider right away if you have an infection or have symptoms of an infection, including: fever, sweats, or chills cough shortness of breath blood in your mucus
(phlegm) muscle aches warm, red, or painful skin
or sores on your body
different from your
psoriasis weight loss diarrhea or stomach pain burning when you urinate
or urinating more often
than normal Do not use SKYRIZI if you are allergic to risankizumab-rzaa or any of the ingredients in SKYRIZI. See the Medication Guide or Consumer Brief Summary for a complete list of ingredients.

Before using SKYRIZI, tell your healthcare provider about all of your medical conditions, including if you:

have any of the conditions or symptoms listed in the section "What is the most important information I should know about SKYRIZI?" have an infection that does not go away or that keeps coming back. have TB or have been in close contact with someone with TB. have recently received or are scheduled to receive an immunization (vaccine). Medications that interact with the immune system may increase your risk of getting an infection after receiving live vaccines. You should avoid receiving live vaccines right before, during, or right after treatment with SKYRIZI. Tell your healthcare provider that you are taking SKYRIZI before receiving a vaccine. are pregnant or plan to become pregnant. It is not known if SKYRIZI can harm your unborn baby. are breastfeeding or plan to breastfeed. It is not known if SKYRIZI passes into your breast milk. become pregnant while taking SKYRIZI. You are encouraged to enroll in the Pregnancy Registry, which is used to collect information about the health of you and your baby. Talk to your healthcare provider or call 1-877-302-2161 to enroll in this registry. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

What are the possible side effects of SKYRIZI?
SKYRIZI may cause serious side effects. See "What is the most important information I should know about SKYRIZI?"

Liver problems may happen while being treated for Crohn's disease or ulcerative colitis: A person with Crohn's disease who received SKYRIZI through a vein in the arm developed changes in liver blood tests with a rash that led to hospitalization. Your healthcare provider will do blood tests to check your liver before, during, and at least up to 12 weeks of treatment, and may stop treatment with SKYRIZI if you develop liver problems. Tell your healthcare provider right away if you notice any of the following symptoms: unexplained rash, nausea, vomiting, stomach (abdominal) pain, tiredness (fatigue), loss of appetite, yellowing of the skin and eyes (jaundice), and dark urine.

The most common side effects of SKYRIZI in people treated for Crohn's disease and ulcerative colitis include: upper respiratory infections, headache, joint pain, stomach (abdominal) pain, injection site reactions, low red blood cells (anemia), fever, back pain, urinary tract infection, and rash.

The most common side effects of SKYRIZI in people treated for plaque psoriasis and psoriatic arthritis include: upper respiratory infections, headache, feeling tired, injection site reactions, and fungal skin infections.

These are not all the possible side effects of SKYRIZI. Call your doctor for medical advice about side effects.

Use SKYRIZI exactly as your healthcare provider tells you to use it.

SKYRIZI (risankizumab-rzaa) is available in a 150 mg/mL prefilled syringe and pen, a 55 mg/0.37 mL prefilled syringe, a 600 mg/10 mL vial for intravenous infusion, and a 180 mg/1.2 mL or 360 mg/2.4 mL single-dose prefilled cartridge with on-body injector.

This is the most important information to know about SKYRIZI. For more information, talk to your HCP.

You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

If you are having difficulty paying for your medicine, AbbVie may be able to help. Visit AbbVie.com/PatientAccessSupport to learn more. 

Please click here for the Full Prescribing Information and Medication Guide.

About AbbVie in Immunology
AbbVie is relentless in our pursuit to redefine the standard of care for patients living with immune-mediated conditions, with the goal of helping them live a life free from the limitations of their disease. For more than 20 years, AbbVie has led and helped shape the field of immunology through groundbreaking science and trusted medicines. Building on deep expertise across gastroenterology, rheumatology and dermatology, and other areas of high unmet need, we continue to invest in a broad and differentiated pipeline – spanning innovative modalities, novel mechanisms of actions and next-generation approaches designed to conquer the complex biology underlying immune-mediated disease.

Today, more than 1 million patients worldwide are treated with AbbVie's immunology medicines, approved in more than 175 countries across 19 immune-mediated diseases that impact adult and pediatric populations. As we work to strengthen our legacy and drive the next wave of innovation, we remain focused on delivering meaningful progress for patients and expanding access to our medicines. For more information, please visit www.abbvie.com/immunology.

About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, neuroscience and oncology – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X and YouTube.

Forward-Looking Statements
Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2025 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. 

References

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