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Europe’s banking regulator has classified Circle’s USDC as its first significant e-money token. The decision shifts supervision of the European issuer’s reserves and redemption arrangements to the EBA in November, while France keeps other oversight.

Summary

The EBA classified USDC as the first significant token among 45 e-money tokens notified under MiCA.
Direct EBA supervision of specified USDC safeguards begins November 12, 2026, according to the regulator.
France’s ACPR retains responsibility for Circle Europe’s governance, ownership assessments, outsourcing and conflicts of interest.
Circle’s French entity issues USDC in the EEA, while a separate U.S. entity issues it outside the region.
The EBA announced a New York supervisory agreement to exchange information about cross-border stablecoin activity.

USDC will come under a divided European supervisory arrangement on November 12 after the European Banking Authority classified it as a significant e-money token. In its October 14 announcement, the EBA said it would take direct responsibility for specified own-funds, reserve, liquidity, recovery and redemption matters currently handled by France’s banking regulator. The French authority, ACPR, will continue supervising other aspects of Circle’s European issuer.

JUST IN: Circle’s $USDC becomes the EU’s first “significant” e-money token under MiCA

Starting Nov. 12, 2026, the European Banking Authority will directly supervise USDC’s reserves, liquidity and redemption plans, following its assessment under the EU’s crypto rules. pic.twitter.com/5tYj6K4Enn

— crypto.news (@cryptodotnews) October 15, 2026

Significant status can sound like a new license or a judgment that USDC is safer than every other stablecoin. It is neither. Circle had already established a regulated European issuance route. The classification identifies a token that meets the regulation’s scale and activity criteria and assigns additional obligations and supervisory work accordingly. The most useful question for users and businesses is what changes in the rules governing the issuer, and what remains the same when they hold or redeem a dollar token.

The November handover is divided, not total
The EBA counts 45 e-money tokens notified in the European Union and calls USDC the first it has designated significant. From November 12, the agency will directly supervise the areas it names: capital, reserve assets, liquidity, recovery and redemption plans. The ACPR retains governance, qualifying holdings, checks on management suitability, outsourcing and conflicts of interest. Circle Internet Financial Europe SAS is the issuer whose European activities are at issue.

Crypto.news reported the designation after the EBA’s decision. The regulator’s own account makes the division clear: it is possible for the token to have a European-level supervisor for prudential safeguards and a French supervisor for corporate conduct at the same time. A problem involving redemption liquidity might require EBA attention, while a question about an outsourced provider or management suitability remains within the ACPR’s remit, with coordination between them.

The transfer has a date rather than an instantaneous effect from the press release. An October 14 decision and November 12 start create a period for handover of supervisory files and responsibilities. It does not imply the French authority stops paying attention to reserves before that date or that Circle can avoid existing MiCA duties meanwhile. The classification also does not describe a change in the token’s $1 reference value, contract addresses or the basic right of eligible holders to redeem.

MiCA Article 117’s supervisory allocation distinguishes a significant e-money token issued by an electronic money institution from a significant asset-referenced token. The former is jointly supervised, with the EBA overseeing compliance with Articles 55 and 58 in its assigned areas. Describing USDC as simply “taken over” by Brussels would erase the continuing French responsibilities.

How a token becomes significant
An e-money token under MiCA refers to one official currency. USDC refers to the U.S. dollar. The Article 56 classification process draws on the significance criteria in Article 43, which address such factors as holders, value, transactions and the issuer’s interconnected activities. The EBA reviews classifications under the regulation rather than attaching the label as a promotional badge.

The October 14 announcement says the EBA assessed USDC against those criteria but does not enumerate the exact indicators or calculations that made it qualify. Readers should not reverse-engineer an official finding from one circulating-supply estimate and assert that a particular threshold was decisive. A globally used dollar token may have several relevant dimensions, including issuance, transfer activity and links among issuers and services. The public release does not disclose which three criteria determined this decision.

The designation is reviewed, not irrevocable. The EBA regularly assesses whether a classified token continues to meet the criteria. If the underlying facts change, MiCA provides a procedure to reconsider significance. Such a review is separate from whether USDC itself remains redeemable or tradable. A fall in market capitalization would not automatically revoke Circle’s French authorization, and a rise in usage would not by itself alter holder terms overnight.

A classification can nevertheless change business costs. Circle may need more supervisory reporting, liquidity planning and capital than under a less demanding category. It may also gain a clearer European supervisory relationship for institutions evaluating stablecoin exposure. Those are possible commercial consequences, not amounts quantified by the EBA’s October release. Until Circle discloses its compliance costs and reserve allocation, claims of a specific hit to profit are speculative.

JUST IN: Tether’s USDT generates $19.6B in yield, outpacing Circle’s USDC

Since May 2021, Tether has generated roughly $19.6 billion in yield from assets backing USDT, compared with Circle’s $7.4 billion from USDC since July 2022, according to DeFiLlama data. pic.twitter.com/05JPcdydEQ

— crypto.news (@cryptodotnews) September 20, 2026

Two issuers support a token used across borders
The EBA identifies Circle Internet Financial Europe SAS as USDC’s EU issuer and Circle Internet Financial, LLC as its U.S. issuer. A customer can encounter the same USDC brand in different jurisdictions while the legal right against a particular issuer depends on location and applicable terms. Regulatory attention to an EU entity does not place all worldwide USDC balances into a single French balance sheet.

Circle’s European USDC white paper sets out the issuer’s legal identity, holder rights and risks. It says EEA holders have redemption rights under the relevant European terms, while holders outside the EEA should consult the U.S. entity’s terms and do not have a right to seek redemption from the French company under that white paper. The distinction matters when comparing a global token supply chart with the obligations placed on Circle’s EU issuer.

A token may move between wallets while its holder moves between countries, making the cross-border arrangement more than a bookkeeping detail. The white paper says a transfer assigns the redemption right to a subsequent eligible holder. Operational controls still govern identity checks and the path to fiat payment. Neither the existence of a blockchain transfer nor the new significant classification tells a particular user that a same-day bank payout is guaranteed in their jurisdiction.

Circle’s September 2026 European redemption policy describes the co-issuance model and a route for EEA holders seeking redemption from Circle France. It also distinguishes selling a token at an exchange from redeeming with the issuer. A person exchanging USDC for euros in a trading market receives a price and service under that venue’s terms; issuer redemption is a claim governed by the issuer’s terms and MiCA. The two paths can diverge under stress.

The EBA says it has signed a memorandum of understanding with New York’s Department of Financial Services to facilitate information exchange on cross-border stablecoin activity. A memorandum is a coordination tool, not a merger of the two legal regimes. The agencies retain their respective powers. The fact that regulators need a formal bridge underscores the difficulty of supervising one widely transferable token through multiple issuer entities.

Reserves and liquidity move into EBA’s remit
A dollar token promises access to dollar value under its redemption terms. Its issuer needs assets that can meet withdrawals when requested, not merely a large nominal portfolio. Reserve composition, maturity, concentration at banks and operational access to cash all influence the ability to redeem during a sudden surge. The EBA’s new responsibility covers those safeguards as specified under MiCA.

Article 58’s additional obligations for e-money tokens brings significant issuers into selected reserve, liquidity and own-funds requirements drawn from the asset-referenced token provisions. Article 54 addresses how funds received for e-money tokens are held and invested. The text distinguishes bank deposits from remaining funds invested in secure, liquid instruments denominated in the referenced currency. An issuer’s prudential compliance cannot be inferred from a single public attestation without applying the exact regulatory scope and entity boundary.

Liquidity is about timing as well as nominal value. A reserve asset may ultimately be worth a dollar while taking days to convert to funds available for redemption. A bank deposit can be readily payable in normal circumstances yet exposed to the bank’s own disruption. A short-term security may be liquid but still require custody, settlement and market access. Stress planning tests whether those paths work when many holders seek cash at once.

The EBA will supervise recovery and redemption plans too. A recovery plan concerns how an issuer responds before failure when its finances or operations deteriorate. A redemption plan describes an orderly path for holders when ordinary arrangements cannot continue. A prepared plan does not mean a crisis is expected or that a government guarantees every claim. It assigns procedures and accountability so the issuer can be examined before and during trouble.

Circle has argued for changes to Europe’s fixed bank deposit requirements. Its request to ease the reserve rules focused on the tradeoff between mandated deposits and exposure to banking counterparties. Significant classification applies the existing legal framework; the EBA’s notice does not approve Circle’s proposed amendment. A supervisor must enforce the law in effect while policymakers consider whether to revise it.

What the additional duties require in practice
Significant status changes more than the address to which a report is sent. Article 58 applies specified rules on reserve management, custody, independent audits and liquidity to an electronic money institution issuing a significant token. The legal text calls for an independent reserve audit every six months from the classification decision. It also replaces some baseline e-money requirements with the MiCA provisions applicable to significant issuers. The date of that decision and the schedule for supervisory responsibility are related but distinct milestones.

The capital question requires care with the denominator. MiCA applies the significant-token own-funds rule through Article 58. Article 45(5) sets a 3% measure against average reserve assets for relevant significant issuers. The rule is a regulatory capital requirement for the issuer, not an automatic 3% charge on each customer’s transfer, and not a claim that the other 97% of reserves may be missing. Capital and the assets backing outstanding tokens are different balance-sheet concepts. Circle’s actual requirement and any supervisory add-on need entity-specific data.

Article 54 separately requires at least 30% of the funds received for e-money tokens to be deposited in separate credit-institution accounts. Other provisions for significant reserves and technical standards may impose stricter liquidity and deposit conditions in their applicable circumstances. Circle’s call to revise fixed deposit ratios should therefore be read against the layered rules rather than summarized as a request to eliminate reserves. An issuer can argue that holding too much at commercial banks concentrates counterparty risk while a regulator argues that deposits provide dependable immediate liquidity. Both positions require evidence about actual banks, instruments and redemption timing.

Suppose a provider holds liquid securities but its bank transfer channel is unavailable on a heavy redemption day. A solvent portfolio would not necessarily translate into immediate payouts. Conversely, keeping a large share at one bank can simplify normal operations while creating exposure to that institution. Stress tests ask whether several pressures can be met together. The EBA can examine the policies, concentration limits and access arrangements; an outside reader generally cannot reconstruct those answers from an aggregate supply chart.

Reporting requirements can reveal other distinctions. The EBA’s significance process uses indicators for transaction value, holder counts and issuer activity, but the public announcement does not publish a table of USDC’s result on each criterion. Future disclosure may provide more detail about reserves or redemption readiness without making commercially sensitive supervision files public. The strongest measurable outcome of the handover would be an observable change to safeguards, reporting or enforcement, rather than simply a larger global USDC balance.

More oversight is not an insurance policy
Circle’s white paper states that the EU investor compensation and deposit guarantee schemes identified there do not cover USDC. MiCA redemption rights and prudential oversight are meaningful protections, but they should not be described as an insured bank balance. The rights rest on a legal claim and the issuer’s ability to honor it within the applicable arrangements.

A user holding USDC through a custodian also faces the custodian’s terms. Some exchanges may restrict withdrawals, temporarily suspend a trading pair or experience operational outages independently of the underlying issuer. A regulated issuer cannot prevent every platform-specific loss or make an intermediary’s promises equivalent to its own. The relevant question after the EBA decision is whether Circle’s European reserve and redemption arrangements are supervised more intensively, not whether every place showing a USDC balance has become supervised by the EBA.

A label can be misunderstood in the opposite direction too. Significant does not mean the regulator found USDC unsafe. MiCA uses the status for a token large or connected enough to warrant more intensive oversight. Additional reporting and stress tests may reveal vulnerabilities earlier, but classification alone is not a finding that reserves were deficient. The EBA did not allege a reserve shortfall in its announcement.

Crypto.news examined Circle’s position on MiCA revisions before the classification. Circle’s policy arguments deserve separate treatment from its legal duties. A company can comply with current requirements while seeking a different future framework. Neither its advocacy nor a positive status label replaces the reserve disclosures and supervisory findings needed to judge present performance.

An exchange conversion is not a redemption
The distinction becomes visible when a user wants cash. An exchange can offer a USDC trading pair in which another customer or market maker takes the other side. The quoted price may be slightly below or above $1 and the venue can impose its own fees and access rules. Direct redemption from an issuer invokes a different obligation: the eligible holder presents tokens through the issuer’s process and seeks payment under the legal terms. A token can remain transferable while one particular exchange has suspended trading or withdrawals.

Circle’s European redemption policy identifies the licensed French entity and explains that EEA holders can seek redemption under its terms. It describes what information a claimant may need to provide and the issuer’s process for handling requests. A reader assessing practical access should look at eligibility, identification, payment method, business-day timing and complaint procedures. A claim of redemption at par does not mean every anonymous wallet can immediately exchange tokens for notes at a physical counter.

MiCA supervision can examine whether plans hold up when normal arrangements fail. If an intermediary refuses a withdrawal, the holder may have a claim against that intermediary as well as a potential route to the issuer, depending on legal ownership and eligibility. If the issuer itself encounters a reserve or operational problem, its recovery and redemption plans become central. These are different failure points; describing all of them as a stablecoin depeg conceals who owes what to whom.

European platforms have already adjusted access to competing dollar tokens under MiCA. A conversion route offered by OKX Europe illustrates how an exchange listing decision can affect a holder’s practical choices without rewriting Circle’s issuer obligations. USDC’s significant designation may influence institutional confidence, but the EBA did not direct an exchange to add a pair or require a customer to switch tokens.

The case for a single global token
A strong argument for the co-issuance model is that businesses can use one familiar digital dollar across payments, trading and treasury operations without maintaining a different brand for each region. A compliant European issuer can give regulated counterparties a clear entity and legal framework, while the U.S. entity operates under its own rules. Shared technology and interoperability can improve access if redemption duties and reserves are mapped correctly.

The counterargument is that a token moving freely across borders is hard to divide neatly into local obligations. A holder may buy from one exchange, transfer through another wallet and redeem in a different jurisdiction. Supervisors need reliable information about where issuance and redemption risk sits. Cross-border information sharing cannot erase differences in legal rights, reserve location or local payment access. The EBA’s agreement with New York regulators addresses cooperation, while leaving these distinctions intact.

The EBA must establish and chair a supervisory college under MiCA Article 119 following a significant classification. Such a college brings relevant authorities together to exchange views on the issuer. Its opinions and coordination do not turn every participating authority into one regulator. The practical value will depend on whether information arrives early enough to guide decisions about liquidity and redemption.

USDC’s global reach might make significant status commercially useful as a signal that the EU has a named issuer and a formal supervisory arrangement. It could also impose costs and constraints that make some uses less attractive. The EBA has not forecast demand growth, platform listings or a change in USDC’s share of stablecoin transfers. A token’s market position depends on users, exchange access, payout routes and competitors as much as its regulatory designation.

JUST IN: Circle and Volante partner to expand $USDC payments

The partnership will help financial institutions evaluate USDC payment and settlement workflows within their existing payment infrastructure. pic.twitter.com/ohXBQO16ml

— crypto.news (@cryptodotnews) September 29, 2026

What November 12 can and cannot prove
The first thing November 12 can establish is a new supervisory allocation. EBA responsibility for specified safeguards transfers from ACPR while France retains its separate fields. A later statement from either regulator may describe examination priorities, data requests or changes to reserve practice. The effective date alone cannot show that the stock of USDC increased, that holders redeemed faster, or that the issuer altered its portfolio.

A concrete comparison requires entity-specific disclosure. A worldwide USDC number includes activity beyond Circle France, while a European supervision question concerns the entity and rights under MiCA. An analyst should identify which reserve report covers which liabilities, in what currency, on what date and with what assurance. Comparing an all-chain market cap to French legal capital without matching scope would create a striking but meaningless ratio.

Crypto.news’s report on Circle’s wider market plans examines expansion outside this specific supervisory handover. A company can seek new corridors while regulators apply stricter standards to an established token. Neither development proves actual consumer payments until services launch and usage is reported with definitions.

The designation is most consequential when claims are tested: can Circle’s European entity provide redemption at par under its stated procedure, maintain appropriate liquid assets, and communicate reliably with both regulators during stress? The EBA’s October announcement fixes which authority will ask those questions from November 12. Evidence of compliance will come from the issuer’s ongoing disclosures and supervisory work, not from the word significant printed beside the token.

What to watch

November 12 handover: Check the EBA and ACPR for any clarification of their respective responsibilities and implementation dates.
European reserve disclosures: Match Circle Europe’s asset disclosures with the corresponding liabilities and the period reported.
Redemption practice: Track published processing terms and whether eligible EEA holders can redeem at par under the stated process.
Rule review: Follow EU action on bank deposit and liquidity requirements without treating Circle’s proposals as enacted law.
Cross-border coordination: Look for concrete EBA, ACPR and New York information-sharing arrangements affecting the two issuer entities.

FAQ

What does significant e-money token mean?
It is a MiCA regulatory classification for an e-money token meeting prescribed significance criteria. It brings additional requirements and EBA supervision in specified areas. It is not a consumer safety grade or a new exchange listing.

When does the EBA begin supervising USDC?
The EBA says its direct responsibility for Circle Europe’s specified financial safeguards begins November 12, 2026. France’s ACPR continues supervising other areas of the European issuer’s business.

Is Circle newly licensed in Europe?
No. Circle’s French entity already held an electronic money institution authorization and issued USDC under the European framework. The October decision concerns significant classification and the resulting supervisory allocation.

Does the EBA supervise all USDC worldwide?
No. The EBA’s decision concerns the token issued in the EU by Circle Internet Financial Europe SAS. Circle identifies a separate U.S. issuer. Authorities have arranged to cooperate on cross-border matters.

Can EEA holders redeem USDC?
Circle’s European white paper and redemption policy describe rights for eligible EEA holders under MiCA. The procedure is different from selling USDC on an exchange, where price, fees and access depend on that platform.

Does significant status insure USDC deposits?
No. Circle’s EU white paper says the cited investor compensation and deposit guarantee schemes do not cover the token. Regulatory oversight and redemption rights should not be confused with deposit insurance.

Which regulator checks Circle’s reserves?
Beginning November 12, the EBA takes direct responsibility for the European issuer’s reserve, liquidity, own-funds, recovery and redemption requirements identified in its announcement. The ACPR keeps other assigned duties.

Will the classification change USDC’s price?
The EBA decision does not make a price forecast or change the token’s dollar reference. Market prices, redemption access and demand have other drivers that need separate evidence. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 19, 2026.

Canadians trading crypto with their own dollars are increasingly buying something designed not to move. By June 2026, stablecoins accounted for 44% of Canadian dollar crypto order book volume, according to Chainalysis.

A year earlier, that share was 30%. The coin doing most of the work is USDC, a token pegged to the US dollar.

The findings come from Chainalysis’s 2026 North America Crypto Adoption report, released in mid-October 2026.

Stablecoins pull ahead of the classics
The headline figure is the 14-percentage-point jump in stablecoin share over twelve months. That growth pushed stablecoins past traditional store-of-value assets, which made up only 29% of CAD order book volume.

Within the stablecoin category, USDC dominated. Chainalysis found minimal activity in stablecoins pegged to the Canadian dollar itself.

The broader numbers also stand out. Canada’s crypto economy grew 2.3% year over year, reaching $247.7 billion in the twelve months leading up to June 2026.

That growth came while the wider North American market saw a slight decline.

Remittances are doing the heavy lifting
Chainalysis ties much of this stablecoin activity to strong peer-to-peer usage. The driver is demographic as much as financial.

Foreign-born residents make up 23% of Canada’s population, the highest share in the G7. Many of those residents send money to family abroad, and traditional remittance channels are expensive.

High remittance costs have pushed a growing number of senders toward crypto, according to the report.

Remittance-sized transfers from Canada to countries including India, China, and the Philippines rose 141% year over year. Those flows reached $2.36 billion across 3.56 million transactions in the year to June 2026.

The average transfer size was $663. The Philippines corridor alone accounted for about $61 million, spread over roughly 73,564 transactions.

A policy headache with a maple leaf on it
The report also flags a thornier issue for Canadian regulators. Strong demand for US dollar stablecoins could potentially divert investment away from Canadian government debt.

Major dollar stablecoins are typically backed by reserves, so money flowing into them can end up supporting US assets rather than Canadian ones.

Canada has started to respond. Recent legislation facilitating the issuance of CAD-pegged stablecoins has been enacted, with the aim of strengthening Canada’s competitive position in crypto and keeping capital at home.

CAD-pegged alternatives currently see minimal trading, while USDC has the liquidity, the network effects, and the head start.

What this means
For investors and traders, the clearest signal is that Canadian crypto demand is tilting toward utility. A 44% stablecoin share of CAD order book volume, up from 30%, suggests a growing slice of activity is about payments and transfers rather than price bets.

The remittance numbers deserve the closest watch. A 141% annual jump to $2.36 billion indicates the corridor is growing fast from a meaningful base.

Canada’s 2.3% crypto economy growth, set against a slight North American decline, also hints that demographic demand may make Canadian crypto activity less sensitive to market cycles. Remittances do not stop because prices fall, which gives this segment a different rhythm than trading-driven volume.

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

Advanced Micro Devices (AMD +2.51%) stock has been a standout performer on the market in 2026, with shares of the company rising by an impressive 147% as of this writing, well above the 57% gains clocked by the PHLX Semiconductor Sector index this year.

The impressive rally in AMD stock has been driven by the healthy demand for the company's server central processing units (CPUs) and graphics cards, which are deployed in artificial intelligence (AI) data centers. Moreover, the company has been doing well in the personal computer (PC) market, even though the industry has been under severe pressure due to high component costs.

But are AMD's catalysts and opportunities strong enough to send the stock soaring over the long run? We will closely examine AMD's growth drivers and see if it is worth investing $5,000 in this semiconductor stock through 2032.

Image source: AMD.

AMD has diversified catalysts that could fuel its growth over the next six years AMD currently gets the majority of its revenue from the data center segment. In Q2, the data center segment produced 58% of AMD's top line. The segment's revenue increased by 107% year over year to $6.7 billion, which isn't surprising as the company is seeing strong demand for its AI chips.

AMD Advanced Micro Devices$542.01+$13.26 (+2.51%)

NASDAQ · As of 3:44 PM ET 10/19/26

So, the data center business will play a central role in dictating where AMD stock could be in 2032. The good news for AMD investors is that it expects AI chip demand to remain solid through the end of the decade. Management noted on AMD's recent earnings call that the total addressable market (TAM) for AI data center accelerators is poised to grow at a 45% compound annual growth rate (CAGR) through 2030, generating $1.4 trillion in revenue by the end of the decade.

AMD is well-positioned to capitalize on this lucrative opportunity. That's because the company sells server CPUs, graphics processing units (GPUs), and server rack systems, all of which are in solid demand to handle AI workloads in data centers. Importantly, AMD has been building a solid client base in AI chips.

AMD's server CPUs are being used by major hyperscalers, including Amazon, Microsoft, Oracle, Google, and others. Additionally, the company's rack-scale server systems, which integrate its GPUs, server CPUs, and networking chips into a single platform, will start shipping in the current quarter. AMD expects "very strong customer demand" for Helios in 2027, and the company's focus on improving the efficiency of its rack-scale systems every year should help it attract more customers.

It is worth noting that AMD is already going to deploy Helios for Microsoft, Meta Platforms, OpenAI, and Anthropic, among others. So, the company is well-positioned to capitalize on the trillion-plus-dollar opportunity in AI compute over the next six years.

Importantly, AMD's growth drivers don't end here. The company will supply semi-custom processors for the next generation of gaming consoles from Sony and Microsoft. The consoles are expected to go on sale from next year, and history suggests that the arrival of a new generation of gaming consoles has been a massive catalyst for AMD.

At the same time, AMD's improving share in the PC market will be another robust long-term tailwind for the stock. Though PC sales have been dropping substantially this year amid the high cost of components, especially memory, the long-term outlook remains bright. Market intelligence provider IndexBox estimates that the PC market could clock annual growth of 2.1% through 2035, driven by the rise of hybrid work, content, and gaming.

Notably, AMD is outperforming the PC market, driven by share gains. The company's client CPU revenue increased by 23% year over year in the second quarter to $3.1 billion, a very solid performance considering that global PC shipments fell 4% during the quarter, according to IDC.

Mercury Research estimates that AMD's client CPU share was 30.3% in the second quarter, up from 23.9% in the same period last year. The company has been growing at Intel's expense in this market, and it could continue to gain share due to its rapidly expanding customer base.

AMD has been scoring commercial customers in the PC market across healthcare, automotive, technology, and financial services. Additionally, major PC OEMs (original equipment manufacturers) have been launching several products powered by AMD's Ryzen CPUs. Given that AMD still has a lot of room to gain share in client PCs, I won't be surprised to see this business prove a reliable growth driver for the company over the long run.

Here's why you can consider investing $5,000 in this chip designer Investors with a diversified portfolio who are looking to buy a top growth stock for the long run have several reasons to consider AMD. We have already gone through the company's catalysts in the section above, and that explains why the company's earnings per share (EPS) growth is poised to take off impressively between 2026 and 2028 (compared to 2025's EPS of $4.17).

Data by YCharts

Even better, analysts have turned bullish about AMD's long-term EPS growth potential as well.

Data by YCharts

However, if AMD clocks a comparatively conservative annual earnings growth rate of 30% from 2029 to 2032, its EPS could reach $65.18 at the end of the forecast period. So, AMD's earnings could increase by 15x over the next seven years (using 2025's EPS as the base), translating into a 48% CAGR. So, AMD looks like an ideal growth candidate for anyone looking to further diversify their portfolio.

Assuming you have $5,000 in investable cash and buy AMD stock with it, your investment could be worth almost $12,700 in 2032. I have assumed AMD trades at 21 times earnings in 2032 (in line with the Nasdaq-100 index's forward earnings multiple) and clocks $65.18 in EPS, which points to a stock price of $1,369.

However, bigger gains are possible due to the strong earnings growth CAGR AMD can deliver during this period, which will encourage the market to reward it with a premium valuation.

Zcash showed signs of stabilization on Monday, edging higher after three straight weeks of declines knocked the privacy-focused digital asset down by around 30% from recent levels. ZEC traded near $1,165 following an 11% drop over the previous week, but overall market sentiment remained cautious amid persistent ETF outflows and declining participation in Zcash derivatives.

Grayscale ETF redemptions continueGrayscale, the asset manager known for launching cryptocurrency investment products targeting institutional and accredited investors, registered $19.15 million in net outflows last week from its ZEC-focused exchange-traded fund. This followed two consecutive weeks of larger redemptions totaling $30.72 million and $93.56 million. Over the past three weeks, withdrawals have accumulated to approximately $143.43 million.

Although the latest outflow was smaller than prior weeks, the sustained negative flow suggests that redemptions through the ETF are still outpacing fresh inflows. Grayscale’s ZEC fund remains one of the primary vehicles for traditional investors to gain exposure to Zcash through regulated markets.

Grayscale’s ZEC fund saw $143.43 million in outflows over three weeks, reflecting ongoing investor caution and a preference for liquidity amid market volatility.

A return of consistent positive inflows would signal renewed demand for Zcash among investment funds, but momentum has yet to shift decisively in that direction.

WeekGrayscale ZEC ETF Net OutflowCumulative Outflow3 weeks ago$93.56 million$93.56 million2 weeks ago$30.72 million$124.28 millionLast week$19.15 million$143.43 millionGrayscale is a digital currency asset management firm offering large-scale access to cryptocurrencies through investment trusts and ETFs.

Declining derivatives activityFutures market participation around Zcash has also waned. Data from analytics provider CoinGlass indicated a drop in ZEC futures open interest from $3.29 billion last month to $2.36 billion, a decline of about $930 million or roughly 30%.

Open interest tracks the notional value of outstanding futures contracts and a decline can signal lower trading activity or investor interest. However, falling prices themselves can also reduce the value of open positions, complicating the interpretation of the trend. The open interest figures, alongside ETF outflows, reinforce the overall picture of reduced market engagement with Zcash.

Mini dictionary: Open Interest – This term refers to the total notional value of all currently active (unsettled) contracts in the futures market for a given asset. A decrease in open interest often reflects reduced trading activity or market commitment.

ZEC technical resistance remainsThe Zcash daily trading chart shows the digital asset struggling to break above several critical resistance points. The coin remains below its 50-period Exponential Moving Average (EMA) at $1,184, which forms the first significant technical barrier for any bullish move.

Above this, a longer-term descending trendline near $1,229 and the 200-period EMA at $1,240 provide additional resistance. Clearing these levels would be required to signal a potentially broader trend reversal.

Technical momentum remains weak. The Moving Average Convergence Divergence (MACD) indicator is positioned just above its signal line but remains in negative territory, suggesting the current bullish move is not yet convincing. The Relative Strength Index (RSI) sits below 50, indicating momentum is neutral to bearish rather than favoring buyers.

On the downside, structural support lies around $1,050, marked by the September 4 high, followed by the key $1,000 threshold. Failure to hold these levels could draw Zcash down toward $888, last marked as a local high on August 23.

For now, ZEC’s modest recovery requires a move above $1,184 and further resistance zones to signal a meaningful reduction in selling pressure.

A Pulitzer Prize-winning historian of financial crashes sees a familiar pattern forming in today's AI boom, and he says the same mechanism that buried railroads in 1873 and dot-coms in 2000 is already flashing in Treasury data right now.

The AI boom has pushed American stocks to valuations few living investors have seen. Meanwhile, one of Wall Street’s most respected financial historians argues that the money pouring in is itself the warning sign. Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance, reportedly says “a trillion dollars has come into the US equity market from foreigners” over the past 12 months and that “the US equity market is 250% of GDP,” a figure that includes private equity. But the size of that number concerns him less than what tends to follow it. In his account, booms die when the rush of capital drives interest rates higher, and “the major ones all end badly.”

A Rate Signal Already Flashing in Treasury Data Ahamed traces the pattern throughout historic market cycles: the 1870s, 1880s, 1920s, 1999-2000, and 2008. In each case, a boom drew in capital until demand for money raised its price, and higher borrowing costs then sank projects that only worked with cheap financing. He says “real interest rates have gone up by 150 basis points in the last 12 months” and calls the move “a global phenomenon” as governments borrow heavily.

Treasury data supports his reading. The 10-year Treasury yield reached 5.19% on October 14, 2026, up 1.16 points year over year. That same day, the 10-year TIPS real yield stood at 2.84%, compared with 1.73% a year ago. Yields have eased a little since then, with the 10-year at 5.09% and the real yield at 2.74% on October 16. Long-term money is still expensive, with the 30-year real yield at 3.16%.

Railroads of 1873 Mirror Today’s Data Center Buildout For his historical comparison, Ahamed points to the railroad mania of the 1800s. In the US, 5% of GDP went into railroad construction, which he puts at “one and a half trillion dollars” in today’s terms, roughly what is now being spent on AI infrastructure. About 80% of that construction was financed with bonds, and “by 1872, only one in five railroads was paying a dividend,” he noted. Then a geopolitical shock shut capital markets in 1873, and the boom collapsed.

The modern version is larger and moving faster. On NVIDIA’s (NASDAQ:NVDA | NVDA Price Prediction) August earnings call, CFO Colette Kress said capital spending by the top five hyperscalers “is expected to reach nearly 800 billion in 2026 and 1.3 trillion in 2027.” She cautioned that the leading AI labs “are growing faster than what their balance sheets and credit profiles can support.” NVIDIA has invested “nearly 50 billion in the Frontier AI Labs,” and Kress addressed the criticism directly: “We know some will call this circular financing. We see it differently.” Ahamed describes that kind of arrangement as “a hidden form of borrowing” that is “great on the way up and it’s terrible on the way down.”

NVIDIA’s $5.17 Trillion Sits at the Center of the Risk No single company better represents the 250% figure than Nvidia, boasting a market cap of $5.2 trillion. Fiscal second-quarter revenue rose to $96.22 billion, up 105.8% year over year, and Data Center revenue reached $89.02 billion. The most telling figure is in the quarterly filing: supply obligations climbed to $279.00 billion, mostly for memory used in Vera Rubin production. Commitments that large assume demand stays strong even if borrowing costs keep rising.

Valuation focuses the rate argument. At about 43 times earnings and 53 times free cash flow, NVIDIA’s valuation works out to an earnings yield of 2.32%. A 10-year Treasury pays 5.09% with no business risk at all. That gap is the pressure Ahamed describes: as safe yields rise, investors need more conviction to own stocks priced well above their current earnings.

The stock has started to wobble. Shares fell 4.84% over the past week to $218.19, though they remain up 17.27% year to date. Ahamed admits that timing is “the giant challenge,” and he notes that earlier infrastructure booms lasted “two to four years.” Skeptics can be early for a long time before they are proven right, and that is why we wrote a free handbook on riding a mania while planning the exit.

Calm Volatility Can Change Quickly For now, fear is silent. The VIX, which measures expected volatility in the benchmark S&P 500, stands at 17.65, inside its normal range. That gauge was at 31.05 on March 27, 2026, a reminder of how fast sentiment can flip.

Jim Cramer has been preparing viewers for that kind of shift. On his July 20 broadcast, the CNBC commentator asked whether a “sudden AI stock sell off” was “just a blip or something you should seriously worry about.” He has told investors that only cash and diversification protect portfolios as AI data-center stocks sell off.

Ahamed’s warning gives investors something specific to track. I’m watching the 10-year yield and the TIPS real yield more closely than any AI headline, because history suggests rates are what end booms. His own advice is direct: “Don’t get caught up in the heat of the moment. Think for yourself.” Readers who have followed our earlier coverage of the Buffett Indicator will recognize the setup.

Contact [email protected] for any questions or corrections.

News Summary:

NVIDIA researchers are using JUPITER — the largest supercomputer in Europe, built at Jülich Supercomputing Centre — for a record-breaking fault-tolerant quantum computing simulation.The 104-qubit simulation is the largest comprehensive simulation of a fault-tolerant quantum computing system to date, with no prior simulations modeling quantum processors in such full detail.The simulation validates a quantum computing approach that uses 90% fewer physical qubits than previous methods, accelerating progress toward useful applications in drug discovery, financial modeling and materials science.JUPITER simulations are providing the quantum industry with actionable insight into the impact of noise on fault-tolerant quantum computing, enabling researchers to refine designs before building hardware — shortening the path to viable quantum computers by years. BERLIN, Oct. 19, 2026 (GLOBE NEWSWIRE) -- NVIDIA today announced a record-breaking quantum computing simulation on JUPITER, Europe’s first exascale supercomputer, allowing researchers to fully explore and validate magic state cultivation — a leading approach to fault-tolerant quantum computing that requires 90% fewer qubits than previous methods.

Running on a system of NVIDIA GH200 GPUs at Jülich Supercomputing Centre, the 104-qubit simulation is the largest comprehensive simulation of a fault-tolerant quantum processor to date, modeling how a realistic quantum processor performs fault-tolerant computation at record scale.

That level of fidelity gives researchers the data and tools needed to predict the performance of future designs before they are built — reducing reliance on hardware trial and error, and accelerating the path to useful quantum applications in fields like drug discovery, financial modeling and materials science.

“Useful quantum computing will require fantastically complex, fault-tolerant systems — and understanding how they behave at scale is essential to building them,” said Jensen Huang, founder and CEO of NVIDIA. “Our results from Jülich show how quantum processors and GPU supercomputers can work together to tackle research that would otherwise be out of reach — accelerating the discovery of transformative quantum applications.”

“Europe’s investment in JUPITER gives researchers the ability to investigate questions that were previously beyond reach,” said Kristel Michielsen, director of the Jülich Supercomputing Centre at the Forschungszentrum Jülich facility. “Working with NVIDIA, we’re bringing that capability to quantum computing — helping scientists make better-informed decisions about the designs most likely to deliver useful applications.”

Reducing the Resources Needed for Useful Quantum Computing
Because qubits operate at the limits of physics, the interactions needed to control them introduce unavoidable, error-inducing noise. Computing in the presence of such noise — known as fault-tolerant quantum computing — requires the use of magic states, a specific arrangement of qubits that is continually consumed during a fault-tolerant quantum computation.

Fault-tolerant quantum computers rely crucially on repeatedly producing magic states — meaning that any optimization in how they are made drastically reduces the difficulty of building a useful quantum computer.

By simulating this process under realistic noise, NVIDIA researchers validated a state-of-the art magic-state cultivation approach, giving researchers the tools needed to develop and test future improvements.

Earlier, groundbreaking research from Jülich simulated 50 qubits under ideal, noiseless conditions. This work simulates magic-state cultivation under realistic hardware noise, helping researchers understand the impact of errors.

From Research Development to Exascale Simulation
Simulating magic-state cultivation helps researchers evaluate and improve designs before building quantum hardware. But the memory required can grow exponentially with the number of qubits, putting large-scale simulations beyond the reach of conventional computing systems.

An NVIDIA GB200 NVL72 system at the NVIDIA Accelerated Quantum Research Center (NVAQC) served as the development platform for the JUPITER project, enabling researchers to scale tests from four GPUs to hundreds before moving to 8,192 GPUs on JUPITER.

Researchers used the center to accelerate the development and testing of their simulation methods, compare results with JUPITER and explore how accuracy scaled with additional computing resources. This work helped reduce a weekslong simulation effort to days while preparing the team to use JUPITER’s exascale computing capacity effectively.

The project demonstrates how simulation will grow increasingly important and complex as quantum computing systems grow in size. It also shows the utility of accelerated computing clusters, like at NVAQC, in allowing researchers to develop and validate simulation methods before tapping into world-class supercomputers for their most demanding calculations.

The simulations ran using NVIDIA cuQuantum software to achieve highly optimized performance and scale, along with the NVIDIA CUDA-Q™ platform’s fault-tolerant logical layer to express the magic-state circuit.

Read the GitHub blog on the JUPITER simulation.

Watch the GTC Berlin keynote from Huang and explore sessions.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Aaron Groff
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f89cad77-76b7-4c56-a133-3ec9e0441d34

JUPITER Supercomputer NVIDIA researchers are using JUPITER — the largest supercomputer in Europe, built at Jülich Supercom...

BAC’s post-earnings drop below its April 2025 trend line fits an Elliott Wave ending diagonal and may be the start of a bigger correction.

Bank of America has had a rough few days. After a hefty regulatory penalty and a third-quarter report that fell short of expectations, the stock fell to its lowest level since May. More importantly from my point of view, it broke below the trend line connected from the April 2025 lows.

When a support line that old gives way, I pay attention. From an Elliott Wave perspective, the picture fits a pattern I respect a lot: an ending diagonal.

Looking at the subdivisions of the whole move from the 2024 lows, I can see the shape of a wedge, and the strong drop below it makes me think that pattern may now be completed. If so, an important top could be in place.

Bank of America (BAC) daily chart: the break below the April 2025 trend line, the possible ending diagonal from the 2024 lows, the $53–$57 resistance area on a rebound and $46 as the next major support.

The earnings backdrop
According to the bank’s own results release, Bank of America earned $6.9 billion, or $0.91 per share, in the third quarter, down from $8.3 billion, or $1.04, a year earlier. That includes a $1.2 billion regulatory settlement charge, worth 17 cents per share. Excluding it, adjusted earnings were $1.08 per share, which, according to Reuters, missed the $1.10 analysts expected. Revenue rose 3% to $30.0 billion and net interest income grew 8%, but investment banking fees fell 11% to $1.8 billion and sales and trading revenue slipped 5% to $5.1 billion, as fixed income trading dropped 17% while equities rose 11%.

The penalty, according to Reuters, relates to the bank’s failure to report more than $5 billion in suspicious activity to the US government. The stock fell about 4.8% on Wednesday to close at $51.39, after trading at its lowest since May during the session. The capital position remains solid, with a CET1 ratio of 10.9% and book value of $39.26 per share. By my own calculation, at around $52 the stock trades at roughly 1.3 times book value and 1.8 times tangible book value, and the latest quarterly dividend of 32 cents works out to a yield of about 2.5%.

What is an ending diagonal?
An ending diagonal is a wedge-shaped pattern that usually shows up in the final wave of a trend. Its waves overlap, and each of the five waves tends to unfold in three smaller waves (3-3-3-3-3), which is why the advance often looks tired and choppy rather than powerful. It tells me momentum is fading. When the wedge breaks, the market often reverses sharply, because the move that built the pattern has run out of steam.That is why the trend line break matters here. It is the first sign that buyers have lost control. What I want to see next is a rebound that fails in the $53–$57 area, where the broken trend line and former support should now act as resistance.

Elliott wave ending diagonal: waves 1-2-3-4-5 move within two converging trend lines and complete wave (5).

What I am watching
The stock closed around $51.40 last week, so it sits just under the $53–$57 resistance area and roughly 10% above the next major support at $46. I think we are still only in the first leg of a higher-degree correction, so after some rallies, even back toward the broken trend line, I expect more weakness as long as BAC trades below the $65.45 high.

Of course, nothing is certain. Rallies can be sharp, especially after a big drop, and a move above $65.45 would invalidate this bearish count. Until then, I am treating bounces as opportunities to watch rather than a reason to turn bullish.

Highlights:

Bank of America broke below the trend line connected from the April 2025 lows, a dangerous signal.
The subdivisions from the 2024 lows suggest an ending diagonal that may now be completed.
A rebound toward the broken trend line and the $53–$57 area could still happen.
$46 is the next major support.
The bearish view remains valid while BAC trades below $65.45.

Want more analysis? Visit us at www.wavetraders.com and apply for test version.

Twitter:  @GregaHorvatFX

The author may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

Walmart Inc. (NYSE:WMT) could unlock billions of dollars in advertising revenue as it expands its digital advertising business, strengthens its connected TV presence and integrates artificial intelligence into shopping, according to Bank of America.

Bank of America analyst Christopher Nardone maintained a Buy rating on Walmart with a $126 price forecast on Monday.

Advertising Business Gains MomentumFollowing a meeting with Walmart Connect executive Ryan Mayward, Nardone highlighted the retailer’s growing ability to attract advertising dollars from competing platforms.

Walmart’s access to roughly 150 million weekly shoppers gives advertisers valuable consumer insights and helps the company measure advertising effectiveness.

Meanwhile, Walmart continues to add tens of thousands of third-party marketplace sellers, creating another source of advertising revenue.

Bank of America estimates that marketplace sellers typically spend 10% to 12% of gross merchandise value on advertising, compared with 4% to 6% for traditional Walmart suppliers.

Connected TV Opens Multibillion-Dollar OpportunityThe analyst also highlighted Walmart’s acquisitions of Vizio in December 2024 and Vibe.co in August 2026.

These deals expand Walmart’s reach beyond brands selling products through its stores and marketplace.

Vibe’s self-service platform allows small and midsize businesses to launch and measure streaming TV campaigns using Walmart’s consumer data.

Nardone believes these advertisers could represent a multibillion-dollar opportunity over the longer term.

Walmart’s investment in Vizio’s WatchFree+ streaming service also provides additional advertising inventory.

AI Shopping and Sam’s Club Offer More GrowthBank of America sees Walmart as a potential beneficiary of AI-powered shopping because of its integrations with multiple AI platforms.

The retailer operates its own AI shopping assistant, Sparky, and has partnered with external platforms, including Meta Platforms, Inc.’s (NASDAQ:META) Muse.

However, the analyst cautioned that it remains too early to determine how AI shopping agents will reshape advertising.

Meanwhile, Walmart is moving Sam’s Club’s U.S. advertising operations onto Walmart’s technology platform. The integration could encourage brands to increase advertising spending across Walmart, Sam’s Club and international markets.

Valuation and RisksBank of America’s $126 price forecast reflects 40 times its fiscal 2028 adjusted earnings estimate, above Walmart’s average forward earnings multiple of 36 over the past two years.

The premium reflects expectations for continued market share gains, stronger store traffic and operating income growth approaching twice the pace of sales growth.

However, the firm identified slowing food inflation, tougher competition and weaker global retail conditions as potential risks to its outlook.

Walmart Price ActionWMT Price Action: Walmart shares were down 0.05% at $118.74 at the time of publication on Monday, according to Benzinga Pro data.

Image via Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Weybosset Research & Management LLC acquired a new stake in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,282 shares of the oil and gas company’s stock, valued at approximately $860,000. ExxonMobil comprises 0.2% of Weybosset Research & Management LLC’s holdings, making the stock its 26th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Avant Capital LLC lifted its holdings in ExxonMobil by 0.6% in the 2nd quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock valued at $1,529,000 after purchasing an additional 65 shares in the last quarter. Impact Partnership Wealth LLC boosted its stake in shares of ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance boosted its stake in shares of ExxonMobil by 1.9% during the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 68 shares during the last quarter. Core Wealth Advisors Inc. grew its holdings in shares of ExxonMobil by 1.0% during the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 68 shares in the last quarter. Finally, Swisher Financial Concepts Inc. grew its holdings in shares of ExxonMobil by 0.3% during the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after buying an additional 69 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Key ExxonMobil News Here are the key news stories impacting ExxonMobil this week:

Positive Sentiment: Refining margins are providing a major earnings boost. ExxonMobil expects higher refining margins to increase third-quarter Energy Products earnings by approximately $4.5 billion compared with the second quarter. Strong refining performance more than offset weakness in other segments, highlighting the benefit of ExxonMobil’s integrated operations. ExxonMobil’s Refining Profits Are Set to Jump $4.5 Billion Positive Sentiment: Growth projects continue to improve ExxonMobil’s long-term outlook. Production milestones in Guyana and the Permian Basin are moving key projects toward free-cash-flow generation. Guyana’s expanding production and additional offshore capacity could support future earnings and capital recovery. Production Milestones Could Be a Key Catalyst Positive Sentiment: Financial flexibility supports investor confidence. ExxonMobil’s low debt load and strong balance sheet provide protection against oil-price volatility and support capital investment, acquisitions and shareholder returns. Morgan Stanley also raised its price target from $177 to $185 and maintained an “overweight” rating. ExxonMobil’s Strong Balance Sheet Offers Cushion Neutral Sentiment: Investors are awaiting confirmed quarterly results. ExxonMobil will release its third-quarter 2026 results on October 30. Management’s report will clarify how much of the preliminary refining gain flowed through to total earnings and cash flow. ExxonMobil to Release Third Quarter 2026 Financial Results Negative Sentiment: Upstream conditions remain a headwind. Changes in oil prices are expected to reduce upstream earnings, with reports indicating a potential roughly $1.3 billion impact. Consequently, the overall third-quarter result may be lower even with the refining improvement. ExxonMobil Signals Lower Third-Quarter Earnings Wall Street Analysts Forecast Growth Several analysts have commented on the stock. Barclays lowered their target price on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. BNP Paribas Exane reduced their price target on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Wall Street Zen raised ExxonMobil to a “hold” rating in a research note on Saturday, September 5th. Jefferies Financial Group raised their price objective on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, DZ Bank downgraded ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective for the company. in a research report on Tuesday, August 4th. Eleven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $165.13. Check Out Our Latest Report on ExxonMobil

ExxonMobil Stock Performance Shares of XOM stock opened at $179.03 on Monday. The firm has a market capitalization of $742.05 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.04 and a beta of 0.21. The company has a 50 day moving average price of $163.85 and a 200 day moving average price of $154.47. ExxonMobil Corporation has a one year low of $111.18 and a one year high of $179.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.

ExxonMobil (NYSE:XOM – Get Free Report) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. During the same quarter in the previous year, the company earned $1.64 earnings per share. Sell-side analysts anticipate that ExxonMobil Corporation will post 12.52 EPS for the current year.

ExxonMobil Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 17th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ExxonMobil’s payout ratio is 53.02%.

About ExxonMobil (Free Report)

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.

Featured Articles Five stocks we like better than ExxonMobil These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM – Free Report).

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On Oct. 14, Chevron (CVX -0.05%) touched an all-time high closing price of $222.04. As I write this, it's trading at just about a dollar below that. The stock has had a banner 2026, climbing 45% and massively outperforming the broader market.

CVX Chevron$224.87-$0.12 (-0.05%)

NYSE · As of 3:40 PM ET 10/19/26

So, the question for investors right now is: Is that impressive price gain just due to elevated oil prices, which are bound to come back down eventually? Or is the stock a buy for the long term?

Well, it's certainly true that oil prices are elevated. The current price for a barrel of Brent crude, the international benchmark, is just under $106. That's 46% higher than before the war in the Persian Gulf began. When oil prices rise, revenue and profits for oil majors rise in tandem, and share prices follow.

But Chevron has more going for it than just war-related increases in crude prices. It is extremely well-positioned to benefit from President Donald Trump's deal with Venezuela that gives the U.S. control of more than 65 billion barrels of that country's proven reserves. Chevron appears to be intricately involved with the plan, as it was the only American oil major to retain operations in Venezuela after the Bolivarian revolution of 1999.

Image source: Getty Images.

The company is also expanding its presence in the Mediterranean Sea, with new agreements to begin seismic research in waters off Greece later this year. The expansion into Greek waters bolsters Chevron's strategy to expand in the Eastern Mediterranean and build on operations in Israel, Egypt, and Cyprus. The region is a significant and growing source of natural gas.

A global refining shortage will benefit Chevron There's also the global shortage of refining capacity, which is expected to outlast the conflict with Iran. The shortage is a big positive for Chevron, which has the capacity to refine the heavy, sour crude produced by Venezuela. Chevron CEO Mike Wirth said in January that the company can process an additional 100,000 barrels per day of Venezuelan crude at its Pascagoula, Mississippi refinery.

Chevron reported net income of $12.1 billion for the second quarter, nearly 400% higher than the year-ago quarter, on record U.S. production and 20% growth in global production. This was its highest quarterly profit in the last six years. It beat Wall Street's earnings estimates by $0.50 a share, at $6.06.

Chevron will report its third-quarter results on Oct. 30, and I expect similarly positive figures. As a result of all this recent good news, and more expected, I believe this stock is a buy, even after hitting a record high.

Wall Street agrees. Of the 25 Wall Street analysts who cover the stock (as recorded by Yahoo! Finance), 20 rate it a "Buy" or "Strong Buy."

For Palantir Technologies (PLTR +4.59%) shareholders, the hardest part of investing may not be buying the stock. It may be deciding when to sell.

After a tremendous run, Palantir is trading near its all-time high. Investors who bought early may be sitting on substantial gains, while newer shareholders may wonder whether the best returns are already behind them.

My view: Don't sell Palantir simply because its stock has soared. But don't hold it blindly, either. Existing shareholders should reassess three things: the company's growth prospects, the return its current valuation can deliver, and the amount of their portfolio tied up in the stock.

A great business can remain a great investment for years. But the price you pay, or continue holding at, still matters.

Image source: Getty Images.

Palantir's business gives shareholders a reason to stay
Palantir's recent results show why investors are optimistic. In the second quarter of 2026, revenue jumped 93% year over year to $1.94 billion. U.S. commercial revenue surged 149% to $764 million, while U.S. government revenue grew 90% to $809 million. Adjusted operating margin reached 62%, and management raised its full-year revenue growth guidance to 82%.

These aren't just impressive growth rates; they instead suggest Palantir is turning demand for artificial intelligence (AI) into substantial revenue while maintaining strong profitability. But strong operating performance doesn't guarantee strong stock returns, which brings us to the more difficult question.

PLTR Palantir Technologies$194.57+$8.54 (+4.59%)

NASDAQ · As of 3:30 PM ET 10/19/26

Is future growth already priced in?
Palantir's valuation leaves investors with high expectations to meet. On Oct. 15, 2026, the stock closed at $200.50, giving the company a market capitalization of approximately $482 billion. Its trailing price-to-earnings ratio was around 171.

At that valuation, investors aren't merely expecting Palantir to succeed. They're paying a substantial premium for continued success. Suppose Palantir keeps growing but eventually trades at a lower earnings multiple. The stock could deliver disappointing returns, even if the business performs well, but if growth also slows, the pressure could be even greater.

This is the risk existing shareholders must weigh against the possibility of further gains. The question isn't whether Palantir can become a much bigger company, but whether its future earnings can grow enough to justify today's price.

Nobody knows the answer with certainty. That's why shareholders should regularly revisit their expected returns rather than assume that yesterday's gains will continue.

Three questions every shareholder should ask themselves
1. Would I buy Palantir at today's price?
Imagine you held your Palantir shares in cash instead. Would you use that money to buy the stock at its current valuation?

If yes, holding may be entirely reasonable. You believe the company's future returns justify the risk. If no, investigate why. Perhaps you think the valuation is excessive, or perhaps another investment offers a better opportunity. You don't necessarily need to sell, but you should have a clear reason to continue holding.

To this end, your original purchase price is irrelevant to this decision. What matters is the return you can reasonably expect from today.

2. Has Palantir become too large a part of my portfolio?
Imagine Palantir accounts for 30% of your portfolio. If the stock falls 50%, your total portfolio would lose 15% of its value, assuming everything else remains unchanged. Could you tolerate that without being forced to sell at the worst possible time?

If not, trimming some shares may be sensible, even if you remain bullish. You can reduce concentration risk without abandoning a company you believe has a promising future. The objective isn't to eliminate volatility, but to prevent one investment from jeopardizing your long-term financial goals.

3. Has anything changed in the investment thesis?
Watch whether Palantir can sustain commercial growth, expand customer relationships, and convert demand into profits and cash. Also pay attention to its competitive position and the cost of compensating employees with stock.

If growth remains strong and the business continues strengthening, that supports holding. If growth deteriorates materially or the company's competitive advantage weakens, reassess your position.

A falling stock price alone doesn't prove the thesis is broken. Equally, a rising stock price doesn't prove it's intact.

What does it mean for investors?
There is no one-size-fits-all approach. Fortunately, existing Palantir shareholders don't need to choose between selling everything and holding forever.

If they believe the business outlook supports an attractive prospective return and the position remains appropriately sized, they should continue to hold. Conversely, it makes sense to trim if the stock dominates their portfolio or the valuation leaves too little room for disappointment.

And above all, selling makes sense if they think the investment thesis is broken or the expected return no longer justifies the risk.

In short, don't sell Palantir stock just because you've made money. Don't hold just because you've made money, either. Hold because the business, valuation, and potential future returns still make sense.

A new connector brings real home listings, interactive maps and affordability tools into Claude, built on two decades of Zillow housing data

, /PRNewswire/ -- A Zillow® experience is now available in Claude through a new connector that lets people explore homes for sale or rent, check home values and estimate what they can afford within the AI assistant.

Claude can bring listings on Zillow, interactive maps, home value estimates and affordability tools into the conversation.

The connector builds on two decades of investment in housing technology that spans buying, selling, renting and financing. "Finding a home is one of the most important decisions people make, and it deserves specialized intelligence — real listings, real home values and real affordability math, built on two decades of housing data," said Josh Weisberg, senior vice president of AI at Zillow. "This connector helps Claude users take the next step through Zillow: a tour, an agent, a loan officer. The conversation doesn't stop with providing information, it leads to a way to make it happen."

How it works

To get started, open Claude, go to "Customize," select "Connectors" and connect Zillow. Then ask for something specific, like "Find three-bedroom homes for sale in Denver under $600,000 with a garage" or "Show me apartments for rent in Seattle under $2,500 a month."

Claude can bring listings on Zillow, interactive maps, home value estimates and affordability tools into the conversation. Listings include photos, prices and other information, with links to further explore properties directly on Zillow. In the same conversation, people can request a tour, connect with a real estate agent or explore financing, ensuring agents remain at the center of consumers' journeys.

Zillow doesn't send data to Anthropic; instead, Zillow's own MLS-approved listing display appears within Claude, with the same broker and MLS attribution as on Zillow.com.

The foundational technology behind the experience

The connector builds on two decades of investment in housing technology that spans buying, selling, renting and financing. Zillow's proprietary data, rich media, custom AI models, and tools that connect consumers with real estate agents, loan officers and other services help make AI more useful for the complex decisions involved in moving.

That same foundation powers Zillow AI mode, which brings together housing information and individual preferences to offer richer, more personalized guidance directly on the Zillow app. AI-powered tools from Zillow also help real estate professionals work more efficiently and better serve their customers.

The Claude connector extends this technology to another major AI platform, joining existing Zillow experiences in ChatGPT and a rentals-focused experience in Gemini.

Zillow's housing expertise also shapes how it designs, tests and launches AI, including fair housing reviews by its ethical AI team. The company has also published its AI principles and released  its Fair Housing Classifier as an open-source tool to help identify potential bias in real estate conversations.

About Zillow Group

Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.

As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.

Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.

Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans®, Zillow Rentals®, Zillow® New Construction, Trulia®, StreetEasy®, Out East®, HotPads®, Follow Up Boss®, ShowingTime®, dotloop® and Zillow® Closing.

All Zillow Group marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Claude, Anthropic, ChatGPT and Gemini are trademarks of their respective owners. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2026 MFTB Holdco, Inc., a Zillow affiliate.

(ZFIN)

SOURCE Zillow

For investors seeking out a relatively safe stock to own this year, one investment that can withstand a lot of market volatility is Lockheed Martin (LMT -0.04%). It has risen by around 15% this year, and yet it still offers good value. Plus, it offers a terrific dividend and was a solid stock to own during the last big market crash.

Here's a closer look at the business and why it may prove to be an underrated investment right now.

Image source: Getty Images.

Back in 2022, when the market crashed, Lockheed Martin soaredWhen interest rates were on the rise and many growth stocks were struggling in 2022, Lockheed Martin's stock did far better than the S&P 500. That year, the broad index's total return, which included dividends, was negative 18%. Lockheed Martin's stock, by comparison, was up over 40% when including its payout.

It was a terrific performance for the business, which has a close relationship with the U.S. government and benefits from strong spending on defense, so much so that last year, there were even reports of the U.S. government considering taking a stake in the business.

While it may not generate strong returns if there's another downturn in the markets, the nature of its operations makes it a fairly resilient defense stock to own. In its most recent quarterly results, which ended June 28, revenue totaled $20.1 billion, up 11% year over year.

$551.85-$0.24 (-0.04%)

NYSE · As of 3:31 PM ET 10/19/26

The stock remains an attractive low-value, high-dividend investmentLockheed Martin's stock has been rallying this year, but it may still have plenty of upside at its current price point. Based on analysts' earnings expectations for the year ahead, it's trading at a forward price-to-earnings multiple of just 16. By comparison, the average stock on the S&P 500 trades at a forward P/E of more than 19.

It's a cheap stock to own, and what makes it even more compelling as an investment is its dividend, which yields 2.6%, which is far higher than the 1% that the S&P 500 averages right now. The company has also increased its dividend for 24 consecutive years. Given its strong, resilient business, it's highly likely there will be more dividend increases to come in the future, giving investors plenty of reason to buy and hold the stock for the long haul.

Lockheed Martin may be one of the better all-around stocks to own right now, offering investors an excellent mix of value, safety, dividends, and growth potential.

Uniswap (UNI) posted record September protocol revenue of $14.81 million, with Robinhood Chain generating $7.87 million, according to Token Terminal data.

Uniswap (@Uniswap) $UNI generated $14.81 million in protocol revenue in September, its highest monthly total since the fee switch went live. Robinhood (@RobinhoodCrypto) Chain contributed $7.87 million of that figure, or about 53%, according to Token Terminal data reported on October 17.

The network launched in July and accounted for more than half of the decentralized exchange's monthly revenue within about three months of going live.

Tokenized stocks drive fees on Robinhood ChainRobinhood Chain is a Layer-2 network that went live on July 1, 2026, according to Crypto Briefing. The same report says tokenized stock trading drove much of the activity. Uniswap's average fee capture on the chain was 0.465% per trade, versus 0.214% across Uniswap globally.

Uniswap also dominated trading on the network. On September 1, Robinhood Chain processed $1.95 billion in daily volume, and $1.75 billion of that ran through Uniswap's liquidity pools, Crypto Briefing reported. The outlet adds that Uniswap began collecting protocol fees on the network on July 27, nearly four weeks after launch.

Not all of those tokens carry the same rights. NewsBTC noted that stock-linked tokens can differ in legal rights, issuer structures and geographic restrictions. Even so, the fees they generate count as real revenue for the protocol.

What the fee switch means for UNIThe fee switch redirects a portion of swap fees from liquidity providers to the protocol. It followed the passage of the UNIfication governance proposal in December 2025. The Defiant reported that the proposal directs protocol fee revenue to a UNI buyback and burn mechanism, aiming to reduce circulating supply.

Revenue collection and actual token destruction are separate events, so higher fees do not translate into burns on their own timeline. There is also a concentration risk: with $7.87 million coming from Robinhood Chain, roughly $6.94 million was generated across all other Uniswap deployments combined.

Activity on the chain has also cooled. Crypto Briefing and Bloomingbit both report that Robinhood Chain's daily transaction count fell by more than 40% in early October, raising questions about whether September's trading levels can be sustained.

NewsBTC adds that whether the new revenue mix lasts will depend on recurring trading demand rather than a single strong month. Traders and UNI holders will be watching whether Robinhood Chain volumes hold in October and beyond.

Sources:

Crypto Briefing: Uniswap posts record $14.81 million monthly revenueNewsBTC: Robinhood Chain Now Accounts For More Than Half Of Uniswap RevenueThe Defiant: Uniswap Passes 'UNIfication' Fee Switch Proposal

Amidst a shaky stock performance and big debts, Paramount and Warner Bros Discovery parent Skydance now faces a new court challenge to the company’s authority over its streaming assets and corporate strategy.

It may all end up being the legal equivalent of a tsetse fly, but the latest flex by a gaggle of streaming subscribers to put some brakes on Skydance’s “post-closing organizational changes” at HBO Max and Paramount+ comes as the David Ellison-run conglomerate hopes to bring in new equity investors to booster the bottom line.

“Plaintiffs request an order requiring Defendants Paramount Skydance Corporation and Skydance Media, LLC to hold and operate separately, pending final adjudication or further order, the acquired Warner Bros. Discovery businesses and assets necessary to preserve viable independent HBO Max and Paramount+ services, together with identifiable associated film and national-news operations, so the Court may order effective divestiture if Plaintiffs prevail,” reads a preliminary injunction motion filed in federal court October 16, serving as a refiling of an earlier case. “Plaintiffs seek preservation of separate operations and relief against irreversible integration, not rescission of the completed closing.”

In their long and likely rocky road to neutering the $111 billion Paramount-WBD merger that was made official September 30, the plaintiffs — Pamela Faust, Len Marazzo, Lisa McCarthy, Deborah Rubinsohn and Gary Talewsky — are also seeking a December 3 hearing before U.S. District Judge Araceli Martínez-Olguín on their antitrust request.

The 16-page motion acknowledges that “the merger has closed.” But leaning into the big-picture ramifications of the price hike for the stand-alone streamer Discovery+ last week, the document adds: “The question now is whether the Court will preserve its power to afford an effective remedy.”

To that, the nine-point proposed order aims to go further than a widely criticized September 21 settlement that a coalition of 12 blue state attorneys general made with Ellison in their own antitrust battle.

For instance: “Separate operation. Defendants shall maintain separate identifiable operational functions for the Legacy Paramount Streaming Business and the Acquired Streaming Business. They shall maintain records sufficient to reconstruct separate revenues, expenditures, contractual rights, subscribers, content rights, and material assets of each business. They shall not eliminate the standalone Paramount+ or HBO Max subscription product or compel subscribers to migrate into a single replacement service.”

In other words, no cost-cutting relief for Team Ellison from one big streamer, at least not yet. Ellison has confirmed that after a bundling period, the home of Taylor Sheridan universe and the home of Lanterns and Game of Thrones spinoffs will become one.

“Long-term, the plan is basically to bring them together,” Ellison said in a post-merger presser two weeks ago. At added at the time: “I can’t be specific about that yet today.”

L-R: Skydance bosses David Ellison and Ynon Kreiz

Although Judge Martínez-Olguín dismissed a previous April-filed case for lack of standing, she did allow plaintiffs the right to refile, which they have via their San Francisco-based Alioto Law Firm and Foreman & Brasso firms. With that, timing is important here, as the full Paramount-WBD antitrust case is set for a dismissal hearing Wednesday; Martínez-Olguín was the judge who signed off on the settlement that turned out to be the final shoe to drop to make Ellison’s Hollywood dream deal a reality.

Interestingly, the new legal action is not slapping down the merger right now. Instead Faust, Marazzo, McCarthy, Rubinsohn and Talewsky are focused splitting up the studios in the short term. If the judge were to grant a preliminary injunction, it would certainly slow-walk the plans of Ellison and newly minted Skydance co-CEO Ynon Kreiz to tackle the $80 billion debt the melded company has.

That could prove a challenging result for Skydance outside Martínez-Olguín’s Oakland courthouse.

After just under two weeks of trading as one company, Skydance shares have been struggling, trading down about 3% middday Monday at under $7, near their low; the stock was pushing $10 when the WBD deal closed October 6. For context, Paramount Skydance hit a 52-week high of $17 in the fall of 2026 after those two companies merged.

With earnings season about to kick off, Skydance will face investors within weeks (date still TBA) and Wall Street is looking for Ellison to outline a strategy and address jitters over heavy debt. After one of the biggest leveraged buyouts in corporate history, that has become increasingly pressing as interest rates rise.

Skydance did not respond Monday to Deadline’s request for comment on the latest filing.

Jill Goldsmith contributed to this report.

Janus Henderson wants to become the most technologically advanced asset manager. Its plan for getting there is to invest in blockchain builders and the networks they run on.

From fund issuer to network operator
The centerpiece is Avalanche. On September 16, 2026, Janus Henderson announced it had become an active validator on the network.

Picture a blockchain as a shared ledger kept by a committee instead of one bank. Validators sit on that committee. They check transactions, agree on which ones are legitimate, and keep the record consistent across the network.

Nick Cherney, the firm’s Head of Innovation, discussed the partnership on October 19, 2026. He framed the Avalanche work as part of the firm’s goal of becoming a tech-forward asset manager.

A stake in onchain credit
The validator role did not arrive alone. Janus Henderson has also taken an equity interest in Tranched, an onchain credit platform.

Tranched manages $300 million in assets. It also has a pipeline exceeding $3 billion, meaning deals it is working toward but has not yet closed.

Janus Henderson is also set to provide anchor capital for Tranched’s issuances. An anchor investor commits money early, which tends to give other buyers confidence that a deal is real and worth joining.

The products already on Avalanche
Janus Henderson did not show up on Avalanche empty-handed. Its tokenized products have been deploying on the network through partnerships with Grove and Centrifuge, work that dates back to 2024-2025.

Two funds lead that effort. The first is the Janus Henderson Anemoy AAA CLO Fund, known by its ticker JAAA.

A CLO, or collateralized loan obligation, bundles corporate loans and slices them into tiers by risk. The AAA label points to the top-rated slices, the ones designed to get paid first.

JAAA holds approximately $690 million in assets under management. The second fund, the Treasury Fund (JTRSY), offers exposure to US government debt in tokenized form.

The funds also got a boost from a $250 million Grove-led program targeting JAAA and JTRSY. That deployment doubled Avalanche’s real-world asset footprint.

What this means
For Avalanche, landing a validator backed by a manager with approximately $500 billion in assets is a credibility signal.

For Tranched, the equity investment and anchor capital commitment may help convert more of its pipeline of over $3 billion into closed deals.

There are risks worth watching. Operating a validator brings technical and operational responsibilities that traditional asset managers have not historically carried. Owning a stake in a platform while also anchoring its issuances creates overlapping interests that investors and regulators may want explained.

The other thing to track is scale. JAAA at approximately $690 million and Tranched at $300 million are meaningful for onchain markets. Against a $500 billion balance, they remain a small slice of the overall business.

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

LI.FI is launching intent-based execution for Ondo Finance tokenized stocks and ETFs on Solana, linking 450+ assets to its network of 1,000+ wallets, apps and neobanks.

@Lifiprotocol is launching native, intent-based execution for @OndoFinance tokenized stocks and ETFs on @Solana, connecting more than 450 tokenized securities to its distribution network. The network spans more than 1,000 consumer wallets, DeFi applications and neobanks.

The launch uses a Request for Quote (RFQ) liquidity model through LI.FI Intents, enabling one-click secondary market trading of tokenized securities. Retail and institutional traders can trade tokenized stocks against on-chain capital, without routing through traditional broker-dealer clearinghouses or dealing with cross-chain bridging.

How the integration worksLI.FI describes itself as an intent-based execution engine for same-chain and cross-chain token transfers. According to LI.FI, market makers in its network quote competitive prices for tokenized assets, which helps partners offer access at the best available prices across supported chains. Partners can unlock the assets through their existing LI.FI integration.

Ondo and LI.FI first announced the tie-up with support for Ethereum and BNB Chain, with Solana listed as coming soon. Ondo said the integration brought 438+ tokenized U.S. stocks and ETFs, including Tesla, NVIDIA, Apple, QQQ and SPY, to LI.FI's partner network. The Solana launch extends that access to a third chain.

Ondo's growing footprint on SolanaOndo Finance brought its tokenized equities platform to Solana on January 21, 2026. The Solana Foundation said the tokens are backed 1:1 by securities held at U.S.-registered broker-dealers, and can be minted and redeemed 24 hours a day, five days a week. That launch made Ondo the largest real-world asset issuer on Solana by asset count.

Tokenized stocks are often spread across several blockchains, which fragments liquidity. LI.FI notes that Ondo's platform currently covers Ethereum, BNB Chain and Solana, and that its products are offered to non-U.S. users, with an institutional-first approach. Routing trades through a single intent-based layer is intended to reduce that friction for wallets and apps.

Tokenized securities give holders economic exposure to the underlying shares rather than shareholder rights, Cointelegraph reported in its explainer on Ondo's Solana plans.

Sources:

LI.FI: Ondo Tokenized Stocks Are Now Live on LI.FIOndo Finance: Ondo Tokenized Stocks Are Live on LI.FISolana Foundation: Ondo Global Markets on Solana

Solana’s developers have scheduled the Alpenglow consensus upgrade for Oct. 21, targeting roughly 150-millisecond finality while asking validators and application operators to prepare for changes during the mainnet handoff.

Summary

Solana’s Alpenglow upgrade is scheduled for Oct. 21, targeting roughly 150-millisecond transaction finality. Quicknode warns of a brief transaction pause and possible data-stream interruptions during the handoff. Validators must use compatible software and fund vote accounts for the 0.8 SOL admission fee. Some RPC nodes may receive finality information later than validators participating directly in consensus. Quicknode’s maintenance notice identifies Wednesday as the planned activation day, but its latest update warns that the original 14:50 UTC estimate could move forward to 13:20 UTC as block production advances. The provider asks operators to be ready from 13:00 UTC, with the consensus handoff following activation by roughly 20 minutes.

Solana Foundation’s current upgrade page puts the change in epoch 1064 and lists mainnet as not yet activated. Its updated estimate places the epoch’s start near 13:20 UTC, making the epoch boundary the relevant trigger instead of a fixed wall-clock appointment.

Solana Alpenglow targets finality, not faster execution Under Anza’s design, Votor replaces TowerBFT’s voting and finality logic. The target is roughly 150 milliseconds under normal network conditions, not a guarantee that every wallet, exchange or trading application will display a completed transaction within that period.

The Foundation says transaction execution, program behavior and fee mechanics remain unchanged. Ordinary users do not need to alter how they sign or approve transactions, while the separate Rotor data-distribution upgrade is reserved for a later release. Its documentation separates the consensus rollout from earlier reductions in slot duration, which govern how frequently the network produces blocks.

Quicknode’s technical overview describes two voting paths operating simultaneously. One can finalize a block in a single round when 80% of validators participate, while the other uses a second round when participation reaches 60%.

The provider distinguishes that process from the early confirmations users already see. Its overview says applications commonly display confirmations within two to three seconds under optimistic settings, before the old system reaches full finality at around 13 seconds.

The October deployment follows an earlier roadmap that linked Alpenglow to Agave 4.3. An August 14 report documented that Alpenglow code was present in Agave 4.2 for testing, without authorizing mainnet activation in that release.

By September 26, the upgrade had reached devnet after testnet’s transition the previous day, as previously covered by crypto.news. Application teams could then check the new consensus behavior before deploying against the network handling users’ funds.

Traders face a short interruption during the handoff Quicknode warns that new transactions will briefly stop entering blocks while the network changes consensus systems. Its notice describes a pause lasting a few seconds, with a longer interruption possible if the transition takes more time.

Transaction submissions may temporarily return a “node unhealthy” preflight error, the provider says. Yellowstone data streams may disconnect once, while subscriptions using the earliest processed commitment can display slots that never reach confirmation.

The maintenance notice recommends confirmed or finalized commitment for data that must not be reverted. Quicknode says its existing Solana endpoints will remain in place and that its team will monitor the network throughout the change.

In the provider’s technical overview, faster irreversible settlement is relevant to financial applications, corporate treasury transfers and real-time services. The document presents those uses as capabilities of the proposed consensus architecture, without establishing that individual trading platforms will adopt new settlement policies on activation day.

Validator readiness includes software and account funding Solana Foundation’s current checklist instructs validators to run version 4.3.2 of Agave, Jito-Solana or Harmonic Salsa before epoch 1064. Firedancer and Frankendancer are not supported during the migration, according to the same guidance.

Operators must keep at least 0.8 SOL above the rent-exempt minimum in their vote accounts to cover the Validator Admission Ticket. The first charge pays for participation in epoch 1065, and an unpaid fee prevents a validator from voting or producing blocks in that next epoch.

Governance approval predates those operational requirements. The proposal passed in September 2025 with 98.27% of votes supporting it, according to coverage of the completed ballot. Participation represented 52% of stake, so the approval percentage describes votes cast rather than the entire validator population.

That earlier vote approved SIMD-0326, the proposal behind the consensus overhaul. The contemporary report recorded 1.05% against and 0.69% abstaining, with the small rounding difference preserved in the published figures.

RPC delivery can lag behind the 150ms target Anza’s operator documentation explains that consensus messages normally circulate among admitted validators. An unstaked node using the default delivery path learns finality from certificates carried in later blocks, typically adding up to one produced-block interval.

Skipped or delayed blocks can lengthen that wait. A node partnered with an admitted validator can receive messages directly, although network latency between the two remains part of the delivery time.

The September devnet coverage documented separate changes for indexers and explorers. Candidate blocks must remain separate until confirmation, and validator participation data moves away from ordinary vote transactions toward certificates attached to block data.

According to that report, removing vote transactions changes dashboard totals even when the number of user payments and trades stays constant. Services counting both categories must reset their comparisons, while systems tracking validator votes need to read the replacement certificate data.

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.

Today, the Solana network recorded a historic high: the number of addresses holding tokenized stocks soared to 1.4 million, according to Blockworks data. Fresh on-chain statistics, however, have revealed a deep structural split in the market. While retail investors, amid this unprecedented boom, are aggressively buying up Apple and Tesla shares, large players are in no hurry to take risks and are parking billions in stablecoins and U.S. Treasuries.

1.4 million addresses now hold stocks on Solana https://t.co/0WF8QZfsjz

— Solana (@solana) October 19, 2026 Back in June, the number of stockholders on Solana barely exceeded 500,000, but a powerful influx of users in recent weeks has made the blockchain the absolute leader in the RWA category. The reason for the boom is simple: round-the-clock access. Traditional Wall Street closes on Friday evening, but on the blockchain trading goes on nonstop: up to 65% of tokenized stock trading volume is now conducted outside the standard working hours of U.S. exchanges. 

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People are massively using digital versions of Nvidia (NVDAx), Apple, and Tesla shares, as well as stakes in SpaceX, as collateral in DeFi protocols, forcing classic securities to play by the aggressive rules of the crypto market.

A million people are there. But where are the billions?Despite the impressive figure of 1.4 million wallets, the real financial weight of this retail segment is still modest. Capital within Solana is distributed unevenly:

Stablecoins: the network's main safe, holding $14.6 billion.

U.S. Treasuries: a reliable instrument worth $1.5 billion.

Tokenized stocks: a modest $485.2 million.

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While retail provides the blockchain with loud headlines, big capital is bypassing the stock market. Large players use the network exclusively as cheap transport for conservative instruments from Ondo and Securitize. In the global ranking of tokenized stock platforms (the entire market is valued at $3.42 billion), the bStocks platform ($1.2 billion, BNB Chain) leads, while the xStocks project, two-thirds of whose liquidity is tied to Solana, takes third place with a volume of $582 million.

At the same time, Solana's main challenge now lies in the operational plane. Serving 1.4 million active addresses is demanding: the real stress test for the infrastructure will be the first mass processing of corporate actions (dividend payments, splits, and shareholder votes), which require hundreds of thousands of simultaneous transactions. 

Issuers are trying to solve the problem with the new regulated Token-2022 standard, but only the first large payouts will show the real resilience of this solution.

While the RWA sector celebrates its victory, the network's native token has ignored this triumph: the price of SOL remains squeezed in a $100–$107 corridor due to capital outflows from spot ETFs. It seems that while the ecosystem is building the rails of the finance of the future, exchange speculators simply haven't noticed.

THORChain has paused native Zcash swaps after a bug cut into the bonds of the operators who run its network. Onchain records show about 140 RUNE deducted from 18 node accounts.

The protocol says no user or vault funds were lost. The people who absorbed the damage were the node operators, which is roughly the outcome a bonded security model is built to deliver.

What broke, and who paid
The trouble traced back to how THORChain matches outbound ZEC transactions. An outbound transaction is the protocol sending coins back out of its vaults to a user once a swap settles, and that matching step is where the bug sat.

Something in that process went wrong, and the network treated it as a vault slash, penalizing the nodes responsible for it.

The incident occurred around October 19, 2026. The penalty came out of bonds, the RUNE that node operators lock up as collateral for the privilege of running the network.

Swappers came out clean. THORChain stated that user and vault funds were untouched, so anyone holding liquidity or trading through the protocol did not lose money because of this.

ZEC swaps will stay frozen until a fix arrives in the v3.21 network upgrade. That upgrade is expected around block height ~28,366,100, which lands on October 23, 2026.

A fresh integration hits its first snag
Native ZEC support on THORChain is very new. The liquidity pool launched on October 2, 2026, and a soft launch brought full swap functionality online by October 7-8, 2026.

So the halt arrived less than two weeks after swaps went live.

The integration supports transparent UTXOs and Zcash’s NU6.3 upgrade. Transparent UTXOs are the publicly visible side of Zcash, which works much like Bitcoin’s accounting model, as opposed to the shielded transactions that give Zcash its privacy reputation.

Instead of minting synthetic IOUs on another chain, THORChain holds real coins in decentralized vaults and moves them directly between networks, removing the bridge-and-wrapper layer that has caused so much grief across DeFi.

The second disruption this month
The ZEC halt is not THORChain’s only October headache. On October 9, Tether temporarily blacklisted approximately 1.45 million USDT spread across four of THORChain’s TRON vaults.

That freeze disrupted related swaps and liquidity provision actions for around three hours.

The two incidents have different causes. The Tether episode came from an outside issuer exercising its power to freeze funds, while the ZEC problem came from THORChain’s own code.

What this means for RUNE, ZEC, and the protocol
The most important detail for users is the one that did not happen. No user funds were lost, and the losses that did occur fell on bonded operators, which is how the system is supposed to absorb faults.

For node operators, the episode is a reminder that their bond carries real risk. A software bug, rather than malicious behavior, triggered this slash.

The things to watch are concrete. First, whether v3.21 ships around block height ~28,366,100 on October 23, 2026, as expected. Second, whether ZEC swaps come back without further slashes. Third, whether THORChain shares more detail on what went wrong in outbound matching.

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

Boston, Massachusetts--(Newsfile Corp. - October 19, 2026) - Block & Leviton is investigating FMC Corporation (NYSE: FMC) for potential securities law violations. Investors who have lost money in their FMC investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/fmc.

What is this all about?

Block & Leviton is investigating whether FMC Corporation misled investors about how much of its higher-priced product was sitting unsold with distributors. On October 15, 2026, about two weeks after the third quarter ended, FMC announced that it now expected quarterly revenue of only $65 million to $125 million and an Adjusted EBITDA loss of $510 million to $565 million. Those results included $625 million to $675 million in charges from cutting prices on FMC products already held by distributors and changing how it sells and prices products in the United States. FMC acknowledged it had been working through this inventory over several quarters. Yet on its July 30, 2026 earnings call, the CEO reportedly blamed weak sales on weather, geopolitics, and cautious buying without mentioning the inventory problem. After the October announcement, FMC's stock fell roughly 39%.

Who is eligible?

Anyone who purchased FMC common stock and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (888) 256-2510.

Whistleblower?

If you have non-public information about FMC, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at [email protected] or by phone at (888) 256-2510.

Why should you contact Block & Leviton?

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On its third quarter of 2026 earnings call, held on Oct. 15, 2026, First Horizon (FHN -0.61%) announced an agreement to sell approximately $4.5 billion of low-yielding residential mortgage loans as part of a balance sheet repositioning. The transaction frees up balance sheet capacity by removing non-relationship assets. This move allows the bank to reinvest capital into higher-yielding commercial client lending. Three key takeaways from management explain how this operational shift creates shareholder value.

1. Selling Non-Core Mortgages Capitalizes Balance Sheet CapacityFirst Horizon is shedding lower-yielding single-product residential loans that carry minimal customer deposits. Replacing these assets creates balance sheet capacity for profitable commercial client relationships.

"This transaction, along with the business line restructuring, is aligned with the strategy we have discussed consistently throughout the past year of prioritizing full client relationships, enhancing the profitability of our balance sheet, and driving improved earnings and returns through the cycle," said
D. Bryan Jordan, Chairman, President and Chief Executive Officer.2. Loan Repositioning Drives Earnings Growth and Capital ReturnManagement expects the portfolio sale to boost earnings per share (EPS) by around 4% in 2027. The company is maintaining its common equity tier 1 (CET1) ratio, a key measure of capital strength, enabling it to resume buying back shares.

Excluding further upside of yields from incremental lending, we expect the transaction to be accretive going forward with 2027 earnings per share benefit of around 4% and improved ROTCE of approximately 150 basis points. Share buybacks will resume in Q4 in line with our CET1 target ratios for the year.
-- Hope Dmuchowski, Executive Vice President and Chief Financial Officer3. Relationship Deposit Growth Strengthens Core Net Interest MarginCustomer deposits grew by more than $1 billion during the quarter, helping offset expensive wholesale funding. This deposit growth supports net interest margin (NIM), which measures the difference between interest earned on loans and interest paid on deposits.

We continue to see momentum with our strategic focus on relationship banking with client deposits up more than $1 billion this quarter and NIM remaining in line with our expectations at 3.48%.
-- Hope Dmuchowski, Executive Vice President and Chief Financial OfficerLooking AheadCommercial loan demand is holding steady, and recent actions increase asset sensitivity for a rising interest rate environment.

The results in the third quarter position First Horizon for continued success. Meaningful upside opportunities, and deepening strategic alignment.
-- D. Bryan Jordan, Chairman, President and Chief Executive OfficerFirst Horizon relies on national specialty lending niches, wealth management partnerships, and treasury management growth to expand pre-provision net revenue (PPNR), which measures profit before taxes and credit losses. Leadership is strategically monitoring deposit pricing discipline.

Reinvesting cash into higher-yielding assets drives long-term returns.

Deployment into incremental lending in the coming quarters and years will further improve these results.
-- Hope Dmuchowski, Executive Vice President and Chief Financial OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

First Bank & Trust decreased its position in Truist Financial Corporation (NYSE:TFC – Free Report) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,313 shares of the insurance provider’s stock after selling 11,895 shares during the period. First Bank & Trust’s holdings in Truist Financial were worth $2,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Truist Financial during the 2nd quarter valued at approximately $4,959,834,000. State Street Corp grew its position in Truist Financial by 0.9% in the second quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock worth $2,924,066,000 after acquiring an additional 501,026 shares during the period. Bank of New York Mellon Corp grew its position in Truist Financial by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 11,289,721 shares of the insurance provider’s stock worth $518,988,000 after acquiring an additional 789,179 shares during the period. Dimensional Fund Advisors LP grew its position in Truist Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,608,268 shares of the insurance provider’s stock worth $395,642,000 after acquiring an additional 164,052 shares during the period. Finally, Legal & General Group Plc increased its stake in Truist Financial by 0.6% during the second quarter. Legal & General Group Plc now owns 7,853,887 shares of the insurance provider’s stock worth $391,281,000 after acquiring an additional 44,215 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance
Truist Financial stock opened at $47.17 on Monday. The company’s 50 day simple moving average is $49.17 and its 200-day simple moving average is $49.64. The company has a market capitalization of $57.62 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $41.60 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. As a group, equities research analysts expect that Truist Financial Corporation will post 4.67 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. Truist Financial’s payout ratio is presently 53.61%.

Analysts Set New Price Targets
A number of equities research analysts have commented on TFC shares. JPMorgan Chase & Co. reduced their target price on Truist Financial from $54.00 to $50.50 and set an “underweight” rating on the stock in a research report on Friday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. UBS Group lowered their price target on Truist Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Robert W. Baird increased their price target on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company set a $52.00 price objective on Truist Financial in a research report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.39.

View Our Latest Report on TFC

Insider Buying and Selling at Truist Financial
In other news, CEO Michael P. Lyons purchased 21,000 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were bought at an average cost of $48.36 per share, for a total transaction of $1,015,560.00. Following the completion of the purchase, the chief executive officer directly owned 21,000 shares of the company’s stock, valued at approximately $1,015,560. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dontá Wilson sold 13,280 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is owned by corporate insiders.

Truist Financial Company Profile
(Free Report)

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.

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Vertiv (VRT -0.30%), a provider of thermal management, liquid cooling, and uninterruptible power supply (UPS) systems for data centers, attracted a stampede of bulls in the first half of 2026 as the AI market's growth boosted its sales and margins. Its stock closed at a record high of $376.06 per share on May 14, marking a 2,390% gain over its previous three years.

But today, Vertiv's stock trades at about $211. Let's see why it pulled back, and whether it will recover and set fresh highs over the next 12 months.

Image source: Getty Images.

How fast is Vertiv growing? The AI market's rapid expansion is driving more data centers to upgrade their servers with Nvidia's (NVDA +1.54%) latest GPUs and other AI chips. However, those new chips consume so much power and generate so much heat that data centers must upgrade their infrastructure with Vertiv's cooling products and UPS systems to operate safely and efficiently.

From 2021 to 2025, Vertiv's revenue more than doubled from $5.0 billion to $10.2 billion, while its adjusted EPS rose more than fivefold from $0.76 to $4.20. Its backlog reached $15 billion at the end of the second quarter of 2026.

For 2026, Vertiv expects its revenue to rise 37% (31% organically) to $14 billion, and for its adjusted EPS to grow 60%. It trades at 31 times that earnings estimate.

VRT Vertiv$205.81-$0.61 (-0.30%)

NYSE · As of 2:36 PM ET 10/19/26

Why did Vertiv's stock pull back? Three challenges weighed down Vertiv's stock over the past five months. First, it slightly missed Wall Street's aggressive top-line estimates for the second quarter, due to the lumpy timing of its larger contracts and supply chain constraints.

Second, Vertiv agreed to acquire UtilityInnovation Group -- a developer of microgrid solutions, advanced power controls, and behind-the-meter power architecture designs for data centers -- for $1.45 billion in cash in February. The integration of that deal, expected to close in the fourth quarter, could affect its near-term margins. Lastly, rising interest rates broadly compressed the valuations of higher-growth AI stocks.

Analysts expect Vertiv's adjusted EPS to grow 60% in 2026 and 36% in 2027. If it matches those expectations and still trades at 30 times its current year's earnings by next October, its stock could rally about 30% to $276 per share over the next 12 months.

That would fall short of its all-time high, but it could still head much higher over the next few years as the data center market expands. Therefore, its recent pullback could be a great buying opportunity for investors seeking exposure to the AI infrastructure market.

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New Control Center for Calix Agent Workforce gives service providers one secure, personalized workspace to put purpose-built AI to work across their business while keeping humans in control. Expanded workflows help teams accelerate growth, strengthen loyalty, and streamline operations, while upcoming Workflow Studio will let providers tailor AI workflows to their unique business needs.

SAN JOSE, Calif.--(BUSINESS WIRE)--Today, at its annual innovation and customer success conference, Calix, Inc. (NYSE: CALX) delivered advancements for Calix Agent Workforce™ on the Calix One™ platform, giving service providers greater control over how AI operates within their workflows, more ways to put it to work, and flexibility to tailor it to their unique business needs—all while keeping humans at the helm.

"For 26 years, we have innovated with service providers, not for them. And over the past 15 years, we have invested more than $2 billion evolving the platform that enables Agent Workforce to put that expertise to work," said Calix CEO Michael Weening.

Share Unlike generic AI tools that service providers must adapt to their businesses, Agent Workforce is purpose-built for how they operate. Powered by the AI-native Calix One platform, which processes a petabyte of data daily, Agent Workforce draws on decades of domain expertise to combine network intelligence, subscriber context, and real-world provider workflows with the trust and orchestration needed to put AI to work. This foundation moves service providers beyond isolated tools toward a unified AI workforce that human teams can manage from one place, leverage to act on insights, deploy across more business functions, and tailor to their unique business needs.

Calix is expanding Agent Workforce with three innovations:

Launching: Control Center brings Agent Workforce into a single personalized operating experience. Personalized by role and permissions, Control Center gives marketing, service, and operations teams one conversational workspace to understand, direct, and act on AI-driven insights and workflows across their business. Teams can surface acquisition opportunities, get subscriber context to address service needs, or investigate network issues—putting the right intelligence and actions in the hands of the right people at the right time. Launching: Expanded AI workflows extend purpose-built capabilities across more of the business. New AI-powered workflows help teams identify more growth opportunities, automate marketing campaigns, engage subscribers across more channels, investigate network health alerts, identify emerging outages, and more. These build on workflows introduced in September that help service providers uncover more upsell opportunities and resolve subscriber issues faster. By applying network and subscriber intelligence to a growing range of business challenges, Agent Workforce reduces manual effort and improves operational efficiency. Coming soon: Calix Workflow Studio will let service providers adapt AI to how they operate. Building on ready-to-use Agent Workforce capabilities, the planned no-code Workflow Studio will enable teams to tailor workflows to their business needs by connecting agents, data, tools, and existing systems. Planned support for open standards, including A2A and MCP, will give service providers greater flexibility to extend automation across their business and partner ecosystem. Calix Success™ helps service providers turn secure AI capabilities into measurable business value through expert guidance, education, and proven best practices. The Calix AI Leadership Playbook gives teams a strategic framework to move beyond generic AI experimentation and to operationalize agentic AI across their businesses. Calix Success also helps providers identify high-value opportunities, integrate Agent Workforce into everyday operations, and build organizational readiness to scale adoption.

Scott Hendrix, chief executive officer at Tombigbee Fiber and Tombigbee Electric Power Association, said: “For us, AI isn’t about replacing people. It’s about giving our teams the tools and knowledge to do more for the members we serve. With Calix Agent Workforce, we’re already seeing how our employees can learn faster, work through complex issues, and better understand what our members need. As we bring these capabilities into more of our daily operations, I see tremendous opportunity to make our team more effective, deliver better service, and grow our business without losing the personal connection that makes Tombigbee special.”

Michael Weening, president and chief executive officer at Calix, said: “AI won’t replace companies, but companies who use AI will replace those who do not. Today, that is truer than ever. For 26 years, we have innovated with service providers, not for them. And over the past 15 years, we have invested more than $2 billion evolving the platform that enables Agent Workforce to put that expertise to work. Control Center scales the expertise of their people so they can move faster, while Workflow Studio will enable them to adapt and extend purpose-built workflows to what makes their business unique. We thank every customer who continues on this journey with us. The game is on, and we are excited to help them use AI to compete and win.”

Discover how Calix Agent Workforce, powered by the AI-native Calix One platform, helps service providers drive subscriber growth, strengthen loyalty, and streamline operations.

About Calix

Calix, Inc. (NYSE: CALX) is an AI platform company that enables service providers to transform their operations and accelerate delivery of differentiated experiences—so they can compete and win in the markets and communities they serve.

Through the AI-native Calix One platform, service providers can securely and privately activate agentic AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.

Calix innovation cycles are underpinned by a strong financial balance sheet and a people‑first culture that routinely earns broad industry recognition—winning 81 culture and innovation awards since 2025 alone, as well as Fortune’s 100 Best Companies to Work For® in 2026.

This press release contains forward-looking statements that are based upon management’s current expectations and are inherently uncertain. Forward-looking statements are based upon information available to us as of the date of this release, and we assume no obligation to revise or update any such forward-looking statement to reflect any event or circumstance after the date of this release, except as required by law. Actual results and the timing of events could differ materially from current expectations based on risks and uncertainties affecting Calix’s business. The reader is cautioned not to rely on the forward-looking statements contained in this press release. Additional information on potential factors that could affect Calix’s results and other risks and uncertainties are detailed in its quarterly reports on Form 10-Q and Annual Report on Form 10-K filed with the SEC and available at www.sec.gov.

Calix and the Calix logo are trademarks or registered trademarks of Calix and/or its affiliates in the U.S. and other countries. A listing of Calix’s trademarks can be found at https://www.calix.com/legal/trademarks.html. Third-party trademarks mentioned are the property of their respective owners.

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