Market Signal Briefing

A heated debate among macro analysts is challenging the long-standing credibility of the ISM Manufacturing Purchasing Managers’ Index (PMI) — a key economic gauge often used to predict business cycles and Bitcoin market tops. The discussion underscores a broader clash between traditional economic indicators and modern financial-conditions-based analysis, with implications for crypto market forecasting.

Julien Bittel, CFA and macro strategist at Global Macro Investor (GMI), argues that Wall Street’s reliance on metrics like ISM, PMIs, retail sales, and job openings is misplaced. He asserts that these indicators lag real economic shifts, stating, “Everything is downstream to changes in financial conditions.” According to Bittel, GMI’s proprietary US Coincident Business Cycle Index — which factors in forward-looking labor and employment data — began improving in mid-2022, signaling economic recovery well before ISM data caught up. He believes a cooling labor market could foster lower rates and fuel the next phase of expansion.

However, Henrik Zeberg, another prominent macro strategist, disputes this perspective. He warns against overinterpreting survey-based indicators like the ISM, emphasizing, “ISM is NOT the business cycle or the economy. It is a survey!” Zeberg points out that in mid-2022, GMI’s model also predicted a recession that never materialized, suggesting the need for recalibration.

The ISM index, which measures US manufacturing activity, has remained below the neutral 50 threshold for over seven months — traditionally signaling contraction — yet a recession has not followed. Interestingly, analysts such as Raoul Pal and Colin Talks Crypto have noted that ISM’s movements historically align with Bitcoin’s major cycle tops. Based on this correlation, some predict Bitcoin’s next peak could extend into mid-2026, later than the widely expected 2025 top.

If ISM’s stagnation persists, it may indicate a slower but longer economic and crypto expansion, suggesting that Bitcoin’s current bull market could be more durable than previous cycles. This evolving debate bridges traditional economics and digital assets, reshaping how investors interpret macro signals in the crypto era.

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On October 25, 2025, a substantial transfer of bitcoin valued over $300 million ignited a wave of intrigue and speculation across the cryptocurrency community. This massive movement involved thousands of BTC being withdrawn from Kraken's hot wallet, prompting enthusiasts and market analysts to theorize about the intentions behind this quiet acquisition.

Ethereum’s largest holders are on the move again, signaling what could be the early stages of a major market shift. Recent on-chain data reveals a quiet yet powerful accumulation trend among wallets holding between 10,000 and 100,000 ETH — a cohort often associated with institutional investors and high-net-worth individuals.

According to analytics platform Alphractal, these whale addresses have been steadily increasing their holdings since April, marking one of the strongest accumulation waves since Ethereum’s 2021 bull cycle. Historically, this group’s buying activity has closely correlated with major Ethereum price surges, suggesting growing confidence in ETH’s long-term potential.

Analyst CryptoRus noted that similar patterns in 2017 and 2021 preceded major rallies, hinting that 2025 could follow suit. While retail investors remain cautious amid Bitcoin’s consolidation and global macro uncertainty, deep-pocketed players seem to be positioning for Ethereum’s next breakout.

Adding to the bullish sentiment, on-chain tracker Lookonchain recently highlighted a whale who rotated funds from Solana to Ethereum — selling nearly 100,000 SOL (worth about $18.5 million) to acquire over 4,500 ETH. This move underscores a potential shift in preference toward Ethereum’s stability and ecosystem maturity over Solana’s high-volatility environment.

However, not all analysts are optimistic. Johnny Woo warned that the broader altcoin market, excluding Bitcoin and Ethereum, is flashing sell signals, with the altseason index at its lowest since late 2022. Meanwhile, Mister Cryptocautioned that Bitcoin’s proximity to its 50-week moving average could trigger deeper corrections if broken.

Overall, market dynamics suggest a capital rotation toward Ethereum and Bitcoin while speculative altcoins lose steam. If whale accumulation continues to mirror past cycles, Ethereum may once again be at the forefront of the next major crypto expansion phase.

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October is traditionally one of Bitcoin's strongest months, often referred to as “Uptober” by traders, due to historical bullish trends. However, in 2025, BNB, the native token of Binance's BNB Chain, has emerged as the real standout, turning a challenging month for the broader crypto market into a period of gains for the ecosystem.

Key Takeaways
Why are Ethereum reserves on Binance falling?
Over 820,000 ETH have left Binance since August, pushing reserves to their lowest level since May.

What could this mean for ETH?
ETH could rally further if demand strengthens and exchange outflows continue.

Ethereum [ETH] is gaining as companies add to their holdings, and Binance’s ETH reserves fall to their lowest level since May.

With supply tightening across exchanges and corporate holdings, is ETH ready for the next big leap?

Binance ETH reserves at a 5-month low
Ethereum’s Exchange Reserves on Binance have seen a drop since late August, falling from 4.69 million ETH to just 3.87 million ETH by the 23rd of October; a decline of nearly 820,000 ETH.

Source: CryptoQuant

This is the lowest level since May, when ETH prices rallied from around $3,800 to $4,800 within weeks. The outflow means that more investors are moving their holdings off exchanges, implying confidence.

With fewer tokens available for trading, the market may be ready for a supply squeeze. If demand continues to build, it can push ETH up, too!

A possible turning point?
Adding to the bullish setup, Ethereum treasury firms appear to be stabilizing after months of decline.

Source: X

According to analyst TedPillows, corporate ETH holdings have been falling steadily since August 2025. This could be a key factor behind the token’s muted performance.

Recent data, however, proved this downtrend may be bottoming out.

If corporate buying continues, it could repeat phases where institutional confidence acted as a catalyst for ETH to surge.

ETH attempts recovery

At press time, Ethereum traded near $3,986, with a modest 0.82% daily gain.

Source: TradingView

The RSI was at 46.9, neither overbought nor oversold. Meanwhile, the OBV held around 11.92 million, with steady but limited buying pressure.

Trading activity remained moderate, with no major spikes in volume.

Price action over the past week formed a gradual upward curve following earlier sell-offs, showing an early-stage recovery attempt.

However, sustained momentum above the $4,000 resistance zone is needed to confirm a broader bullish reversal.

The Federal Reserve's planned interest rate reductions could trigger a historic surge of liquidity, potentially redirecting $7.4 trillion from money market funds (MMFs) into riskier assets, including stocks and Bitcoin, by 2026. This anticipated inflow has caught the attention of investors, analysts, and institutional funds, signaling a potential transformative impact on global financial markets.

The Bitcoin derivatives market is showing renewed strength as total options open interest (OI) reached a record high of $63 billion, signaling growing investor confidence and heightened speculative activity. According to CoinGlass data, this milestone highlights that traders are positioning themselves for a potential major price move in the world's largest cryptocurrency, reflecting optimism about Bitcoin's near-term trajectory.

Journalist

Posted: October 27, 2025

Key Takeaways
Should XRP bulls expect a bullish performance this week?
Yes, the breakout past the local resistance at $2.55, the rising Open Interest, and Taker Buy Volume showed short-term bullish sentiment.

How high can the current rally go?
The next targets would be $3.1 and $3.4- but caution is warranted. XRP was yet to recapture the $2.64 and $2.77 resistance levels.

Ripple [XRP] has rallied 11.4% in four days. One of the reasons spurring this move was whale accumulation. The breach of the technical $2.5 resistance swayed the short-term sentiment bullishly.

Source: XRP/USDT on TradingView

In a recent report, AMBCrypto noted that the $2.5-$2.77 was a key resistance zone for the bulls to overcome. At the time of writing, the local swing high at $2.64 was being challenged.

If breached, the likelihood of a rally beyond $2.77 would increase.

This week’s XRP price target would become $3. Bitcoin’s [BTC] move past $112k at the time of writing would help turn sentiment bullish in the short-term.

XRP Open Interest reaches May lows
In a post on CryptoQuant Insights, analyst PelinayPA revealed how the Open Interest trends could set the stage for an XRP rally. The Open Interest was just below $550 million, and at the same levels it had been in May.

The crypto crash on the 10th of October wiped out OI hard, across the market. This deleveraging event has accelerated the price reset and cleaned out the derivatives structure.

The current setup resembled conditions often seen at the beginning of a new trending phase, the analyst argued.

A recovery in the OI alongside strong spot demand would enable an XRP target to the $3 supply zone. Continued demand and momentum could push prices to $4.5, according to the analyst.

The taker buy/sell ratio swung in favor of the buyers recently. This has happened a handful of times since May, and usually comes during a strong uptrend.

Since August, price retracements into the $2.8-$3 demand zone have been met with heightened taker buy orders, indicating expectations of a bullish reaction from the support zone.

The increased taker buy volume as XRP races past the local resistance at $2.55 was a bullish development. The Open Interest has climbed from $550 million to $590 million within 24 hours, CryptoQuant data showed.

XRP bulls must take care not to get swept away by these developments. While positive, there were substantial obstacles overhead. The 1-day timeframe’s structure remained bearish.

The $2.8-$3 supply zone would be key to deciding the next impulse move’s direction.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

XRP is rapidly ascending as the centerpiece of institutional digital finance, driving Ripple's aggressive global expansion through acquisitions, custody innovation, and liquidity breakthroughs that position XRP as the essential asset powering the future of interconnected financial infrastructure.

Bitplanet Inc. has purchased 93 BTC and initiated a daily Bitcoin buying program, positioning the company as a first mover in Korea’s public-market adoption of BTC for corporate treasuries. The Seoul-based firm says the transaction was executed entirely through regulated and compliant infrastructure.

“This transaction marks the first Bitcoin purchase by a publicly listed company in Korea executed entirely through regulated and compliant infrastructure,” said Paul Lee, Co-CEO of Bitplanet.

“With Asia’s digital asset landscape evolving rapidly, Bitplanet seeks to set a new benchmark for transparent, institutional-grade corporate Bitcoin adoption.”

The company framed the new program as a rules-based, long-term strategy rather than a one-off buy. Management said it will accumulate BTC every day to reduce timing risk and to formalize Bitcoin as a strategic treasury reserve asset.

10,000 BTC target, $40 million in fresh capitalBitplanet’s roadmap calls for building a 10,000-BTC treasury over time. To support that plan, the company raised $40 million last month, earmarked to fund ongoing accumulation and strengthen balance-sheet optionality as BTC market conditions evolve.

Bitplanet is backed by a roster of digital asset and traditional finance investors, including Simon Gerovich of Metaplanet, AsiaStrategy, Sora Ventures, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital. The investor lineup underscores Bitplanet’s ambition to become a regional reference point for institutional Bitcoin treasury management.

Formerly known as SGA Inc., Bitplanet describes itself as Korea’s first KOSDAQ-listed institutional Bitcoin treasury company.

Built on an IT services foundation, the firm emphasizes compliance, risk management, and financial engineering as the pillars of its strategy to help corporates adopt Bitcoin in a transparent, regulated manner.

Mentioned in this article

In a surprising turn for the crypto world, a dormant Bitcoin wallet from 2011 has stirred after more than 14 years of inactivity, transferring 4,000 BTC—valued at roughly $442 million at current prices. This rare movement has captured the attention of blockchain analysts, traders, and enthusiasts alike, sparking conversations about the origins of these coins, the motivations behind such moves, and what this means for Bitcoin's on-chain activity.

On-chain data shows roughly 62,000 BTC have moved out of long-term storage since mid-October, softening one of this cycle’s strongest tailwinds. But steady whale accumulation and a moderate short-side cleanup helped prices stabilize near $114K.
Oct 27, 2025, 1:54 a.m.

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.
Bitcoin’s recovery above $114,000 this week reflects a measured reset rather than a breakout. Glassnode data show that since mid-October, about 62,000 BTC have moved out of long-term inactive wallets, roughly 0.4% of the total illiquid base.

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The shift marks the first notable decline in illiquid supply this cycle, signaling that some long-held coins are returning to more liquid hands.

Whales, however, have been quietly absorbing that flow, data from Glassnode shows.

Wallets holding large balances have added to their positions over the past 30 days and haven’t meaningfully sold since Oct. 15. By contrast, smaller holders between 0.1 and 10 BTC, roughly $10,000 to $1 million, have been steady sellers since late 2024. The result is a redistribution phase: weaker hands trimming risk, larger holders accumulating.

In derivatives, leverage has stayed balanced. Hyperliquid leaderboard data show about $4.1 billion in open interest split almost evenly between longs and shorts, with a slight tilt toward the latter.

Coinglass tracked around $413 million in liquidations over the past 24 hours, about $337 million of which were shorts. That’s a moderate flush, not a full short squeeze, enough to clean up over-levered bets but not to reset positioning or force panic buying.

Together, these dynamics can help explain the calm recovery in bitcoin's price. BTC’s move from $110K to $114.9K was driven by a mix of mild short covering and steady spot absorption rather than momentum chasing. Glassnode data shows that the market now sits in a neutral zone: illiquid supply is easing, whales are holding, and leverage is balanced.

For now, Bitcoin is likely to oscillate between $113K and $116K until the next catalyst emerges. With a dovish Fed already widely expected, the question is, what will this be?

Market Movement:BTC: Bitcoin’s rise from $110K to about $114.9K reflects a modest recovery powered by whale accumulation and mild short covering, not the kind of broad-based demand that signals a new uptrend.

ETH: Ether climbed to $4,186, up about 6% over 24 hours, outperforming Bitcoin as traders rotated into higher-beta assets following BTC’s stabilization, though on-chain and derivatives data suggest the move remains largely momentum-driven rather than backed by strong new inflows

Gold: JPMorgan expects gold to climb to $5,055 an ounce by late 2026 and $6,000 by 2028, calling the recent pullback a healthy consolidation within a broader uptrend driven by Fed rate cuts, stagflation fears, and rising demand from central banks and investors diversifying away from the dollar.

Nikkei 225: Japan’s Nikkei 225 surged past 50,000 for the first time as optimism over U.S.-China trade talks and hopes for domestic demand expansion under Prime Minister Takaichi lifted sentiment.

Elsewhere in Crypto:Betting Scandals Are Rocking Sports. Will Prediction Markets Help or Hurt? (Decrypt)Could China ‘militarise’ cryptocurrencies to beat financial sanctions? (SCMP)Tether Eyes Fresh Investments to Push USAT Stablecoin to 100M Americans at December Launch (CoinDesk)More For You

Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.

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Bitcoin Rebounds as $319M in Shorts Are Liquidated While Traders Eye U.S.-China Talks

Bitcoin cleared $112,000 on heavy volume and hovered near $114,500 late Sunday (UTC), while CoinGlass showed $319 million of short positions liquidated over 24 hours.

What to know:

Bitcoin cleared $112,000 on heavy volume and hovered near $114,500 late Sunday (UTC). Derivatives data from CoinGlass show $393.74 million in liquidations over the past 24 hours, including $319.18 million from short positions.Traders are watching the $115,000–$116,000 area next as a confirmed Trump–Xi meeting on Oct. 30 adds to the backdrop.Read full story

Quantum computing could change the world, and IonQ's quantum computing stock has fallen 26% from its October peak. Does that add up to a wide-open buying window?

Quantum computing specialist IonQ (IONQ +1.55%) soared to an all-time high in mid-October, but has backed down from that peak recently. The stock closed at $59.37 per share on Oct. 23, 28% below the $82.09 mark on Oct. 13.

Is this dip an invitation to buy IonQ stock, or the start of a deeper downturn -- or something in between? Let's take a look.

Image source: Getty Images.

Why quantum computing could change everything
Quantum computing should eventually turn the number-crunching world upside-down. Monitoring the physics of specially designed materials is a radically different computing method from the classical routing of digital signals through various types of logic gates.

In the long run, quantum systems should get very good at finding patterns in large data sets. In practice, people may use this new computing paradigm to decode genetic data, decrypt encrypted information, analyze financial markets, and more. I've got my fingers crossed for a quantum supercomputer finally figuring out the objectively correct way to raise your kids, but let's not hold our breath on that one.

Hold that thought, though (while breathing comfortably).

So far, IonQ is one of the largest and most successful developers of quantum computing systems. With $52.4 million of trailing revenue and a market cap of $21.8 billion, it stands head and shoulders over smaller quantum hopefuls such as Rigetti Computing (RGTI 1.91%) and D-Wave Quantum (QBTS +5.05%).

IonQ's focus on trapped ion systems is more natural than the superconducting gates used by Rigetti and D-Wave's quantum annealing. Its hardware is already producing high-quality data that can do useful things with less error correction. It's not a perfect solution, though; IonQ's data processing is also slower than the superconducting circuits and requires more precise engineering.

If IonQ's solutions can produce business-grade quantum computing systems before the others, you're looking at the early days of another durable tech titan.

IonQ's success is far from guaranteed
Unfortunately, IonQ has many hurdles to jump before reaching that lofty goal.

What if superconducting circuits are the right long-term approach, making IonQ's research obsolete in five or 10 years? In this case, I'd rather own Rigetti and D-Wave stock.

D-Wave and Rigetti may not look too dangerous today, but IonQ is also competing with well-heeled giants like Alphabet (GOOG +2.67%) (GOOGL +2.70%) and IBM (IBM +7.98%). IBM Quantum Computing and Google Quantum AI already have boatloads of technology patents, and their massive research budgets make IonQ and Rigetti look like rounding errors.

And there are no guarantees that IonQ's quantum computing research efforts will succeed. The trapped ion approach makes sense today, but the company's scientists could run into unexpected roadblocks and failed experiments. Any experienced biotech or semiconductor investor can tell you scary tales of promising research projects leading to a dead end.

Unfortunately, it will probably take many years to create truly useful quantum computers. If nothing else, IonQ may very well run out of cash long before the final breakthrough. From dilutive stock sales to expensive loans to all-out bankruptcy, none of the options is particularly shareholder-friendly.

The stock price lives in a different reality
Meanwhile, IonQ's stock is trading at nosebleed valuations. It's as if the company's long-term success were already guaranteed, with no regard at all for the many risks that remain.

So the greatest risk of all for IonQ investors may be the stock's unsustainable valuation. I already gave you the figures to work out its price-to-sales ratio -- a terrifying 415.5 times trailing revenue.

And I can't even talk about profit-based metrics, because IonQ isn't making money. Like, at all. With $52.4 million of trailing sales, the company reported a net loss of $464.3 million over the last four quarters. And it's not just a tax-savvy accounting move, either. IonQ's free cash flow was a negative $155.1 million in the same period.

The company is running its pricey research projects and burgeoning system manufacturing operations on a rapidly dwindling reserve of investor capital.

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Bottom line: Wait for a better entry point
IonQ is at the forefront of a thrilling technological revolution, sure to create a new set of business giants and make millionaires out of early investors. That is, early investors in the eventual winners, which may or may not include IonQ.

I would consider buying a few IonQ shares if the stock weren't so incredibly expensive, but I'm not interested at all in the current setup -- even 26% below the even loftier mid-October peak. Give me a call if and when the market comes to its senses, accounting for IonQ's long-term risks in a much lower share price.

Until then, I can only hope the stock chart continues to trend lower for a while. I wouldn't dare short this volatile stock, of course -- it's all about finding a more reasonable entry point.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Cameco stock looks poised to vault higher in November and beyond.

Cameco (CCJ +2.12%) stock has soared more than 60% in 2025 as of this writing, but this isn't another meme stock. Far from it.

Cameco is, in fact, a well-established stalwart in the uranium industry and is incredibly well-placed to benefit from the global nuclear energy resurgence. It is one of the few stocks you shouldn't go wrong with if you're looking to ride the nuclear wave.

In fact, you'll want to grab some shares of Cameco before October ends. Here's why.

Image source: Getty Images.

All set to catch the nuclear energy boom
Nuclear energy is quickly taking center stage as a steady and a reliable source of clean energy to meet the surging demand for electricity, especially from artificial intelligence (AI) operations and data centers that consume massive amounts of power. That's one of the reasons why President Donald Trump is also going all in to boost the domestic nuclear energy industry.

That also means massive potential for the supply side of the industry, especially providers of nuclear fuel, uranium. And it's where Cameco steps in.

Cameco is one of the largest uranium miners in the world, selling uranium and fuel services to nuclear utilities across America, Europe, and Asia. Cameco's 49% stake in Westinghouse Electric Company also makes it a top supplier of nuclear equipment and technologies.

Here's where things start to get interesting. Cameco's third-quarter earnings report coming up on Nov. 5 could propel the stock higher.

Why Cameco's sales and earnings could surge
Cameco has two big things going for it: uranium prices and Westinghouse.

Cameco regularly calculates average industry uranium prices and releases them. Its September-end spot uranium price of $82.63 per pound, as well as long-term price of $83 per pound, are the highest in all of 2025.

With Cameco also already locking in delivery commitments for 2025 under long-term contracts, its revenue could get a solid boost in Q3, backed by higher volumes as well as prices.

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Westinghouse, meanwhile, should drive Cameco's earnings higher. Last quarter, Cameco significantly bumped up its expectations from Westinghouse. The Trump administration's push to restart idled nuclear reactors and build more creates significant opportunities for Westinghouse.

Should you buy Cameco stock hand over fist?
A strong earnings report, though, is a short-term potential catalyst for Cameco stock. Its long-term thesis is a lot more compelling, and you should be able to get a glimpse of it as well in November.

Cameco plans its production for long-term contracting with utilities, not for spot uranium exposure. Cameco believes utilities will have to secure a "significant amount of uranium" through 2045 to meet their fuel needs. The World Nuclear Association's latest biennial report, meanwhile, suggests that demand for uranium could more than double by 2040.

Cameco has been steadfast and strong through the worst of times. Today, the outlook for nuclear energy and uranium looks better than ever. Cameco has been a monster stock in the past, and the next big bull run might just be getting started. Buying some shares now, therefore, could be a solid investment move.

The Magnificent Seven stocks are the cream of the crop when it comes to AI, but one has a clear advantage.

The dawn of generative artificial intelligence (AI) has been something of a windfall for the Magnificent Seven stocks, as these tech titans were already well-versed in earlier forms of AI. The popular collective, made up of Meta Platforms, Apple, Amazon (AMZN +1.43%), Alphabet, Microsoft, Nvidia (NVDA +2.25%), and Tesla, ran circles around the broader market in recent years, becoming the toast of Wall Street in the process.

Nvidia has become the de facto poster child for AI thanks to its pioneering work in graphics processing units (GPUs), which provide the computational horsepower that underpins most AI models. The stock represents a significant portion of my personal portfolio, and I expect Nvidia to beat the market for the foreseeable future.

So, you might be surprised to learn that if I could buy just one Magnificent Seven stock to hold for the next 10 years, it wouldn't be Nvidia. Here's why.

Image source: Getty Images.

The case for Nvidia
Now, before I reveal my pick for the next decade, it's worth reviewing the case for Nvidia. And make no mistake -- there's a lot to like. After all, Nvidia is the undisputed leader in the data center GPU space, with a dominant 92% share of the market, according to IoT Analytics. Since most AI processing takes place in the data center, this is Nvidia's race to lose. Furthermore, Nvidia's annual release cadence for new AI-centric processors has put its rivals on notice that it has no plans to cede the top spot anytime soon.

That said, competition has begun to ramp up in recent months. Advanced Micro Devices recently inked a lucrative 6-gigawatt deal with OpenAI to use its Instinct MI450 series chips and rack-scale AI solutions. Broadcom, with its application-specific integrated circuits (ASICs), scored its own 10-gigawatt deal with OpenAI.

To be clear, Nvidia kicked off the proceedings with a 10-gigawatt deal and an investment of up to $100 billion in the ChatGPT creator. However, these recent developments show that even the biggest names in AI are reluctant to put all their eggs in one basket, leaving an opening for the competition.

Don't get me wrong. Nvidia became the industry leader fair and square, and I expect it to retain the crown for years to come. But a lot can happen in 10 years. And given Nvidia's stock price increase of 1,150% since early 2023, it's unlikely it will be able to duplicate that performance in the years to come.

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The power of AI and more
If we've learned anything since the dawn of AI, it's that the technology has the potential to ramp up efficiency and generate productivity increases unlike anything that's been seen before. Of all the Magnificent Seven companies, one is uniquely positioned to reap the benefits of AI across its vast business empire: Amazon.

The digital retailer has long employed advanced algorithms to maintain sufficient inventory at its warehouses and distribution centers, and determine the most cost-effective delivery routes. It even uses AI-powered robots to stock shelves and prep merchandise for shipping. Generative AI takes that to the next level.

Amazon's fast-growing digital advertising business is another beneficiary of the company's AI acumen. By infusing its adtech with AI, Amazon can better match ads with its target market.

Last but not least is Amazon Web Services (AWS), the company's cloud infrastructure business. The company continues to lead the industry it pioneered and has reignited its growth by serving up generative AI systems and tools to its cloud customers, which act as a captive audience for its offerings.

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Show me the money
Don't take my word for it. In the second quarter, Amazon's overall sales increased 13% year over year to $167 billion, while its earnings per share (EPS) of $1.68 jumped 33%. But even that doesn't tell the whole story. AWS grew nearly 18% year over year to $31 billion, and advertising revenue jumped 23% to nearly $16 billion.

This summer, CEO Andy Jassy provided an update, saying that Amazon had more than "1,000 generative AI services and applications in progress or built," which are a "small fraction of what we will ultimately build." Jassy believes AI agents are the next frontier, with new agents being put to work "across all our business units."

The icing on the cake
Despite all that opportunity, Amazon stock is selling for just 33 times trailing-12-month earnings, less than half the stock's three-year average and only a slight premium to a multiple of 31 for the S&P 500.

It's hardly a fair comparison, as Amazon stock has returned 656% over the past decade compared to just 231% for the S&P 500 -- which helps to illustrate why Amazon is deserving of a premium.

Given Amazon's triple-threat business, long track record of success, and appealing valuation, I believe Amazon has the potential for greater upside over the next 10 years than Nvidia.

Danny Vena has positions in Alphabet, Amazon, Apple, Broadcom, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

The robotics market is heading toward $130 billion by 2035 -- and these three companies control the critical infrastructure.

A robotics revolution is unfolding, thanks to the artificial intelligence (AI) explosion. Robots that physically move, lift, and assemble products are estimated to represent a $130 billion opportunity by 2035, split between $38 billion in humanoid robots and $94 billion in industrial systems.

Three companies control the essential infrastructure behind this boom. Amazon (AMZN +1.43%) operates over a million robots across its fulfillment network today. Tesla (TSLA 3.36%) aims to manufacture humanoids at prices far below existing competitors. Nvidia (NVDA +2.26%) provides the AI platforms powering both companies and virtually every serious robotics program.

Image source: Getty Images.

Here's why these three top robotic stocks are buys right now.

Amazon built the robot army nobody noticed
While rivals show prototypes, Amazon deploys at scale. More than 1 million robots work across more than 300 facilities, moving boxes from point A to point B. This is not future tech. It is the infrastructure that moves billions of packages each year.

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DeepFleet, Amazon's generative AI coordinator, drives about a 10% gain in fleet efficiency. Small gains compound when you run a seven-figure fleet. The hardware lineup includes Hercules, which lifts up to 1,250 pounds, and Proteus, which navigates safely around people.

Amazon's robotics infrastructure handles billions of packages annually, and that throughput advantage compounds as the fleet grows. The e-commerce giant already operates robotics at a scale no competitor matches.

Why Optimus is the core thesis
Tesla's humanoid robot, Optimus, only matters if the unit economics work. Tesla is targeting a $20,000 to $30,000 price for a general-purpose humanoid. By comparison, Boston Dynamics' Atlas costs around $140,000.

If Tesla reaches its price target levels, competitors will need to cut prices sharply. At that level, humanoids would move from costly demos to tools that make sense for everyday industrial work.

The caveat is simple. Targets are not costs. Reliability, safety, serviceability, and lifetime maintenance are unproven at scale. The thesis depends on hitting a price that turns a humanoid from a capital-intensive toy into an operating expense with a fast payback.

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If Tesla gets there, Optimus becomes the business. If it does not, Optimus is an expensive paperweight. History suggests Tesla usually crosses the finish line on big manufacturing bets, often later than promised, but at a scale that changes unit economics.

Nvidia captures the economics layer
Nvidia sells the brains and tools for robots. The Isaac stack pairs the GR00T N1 humanoid foundation model with Isaac Lab for training and Isaac Sim for digital twins. GR00T-Dreams shortens synthetic data generation to hours instead of months, which speeds up real-world deployment.

Adoption is broad across categories. Boston Dynamics and Agility build on Nvidia's platform, Hyundai is standardizing on Omniverse and Isaac for mobility and factory use, and Foxconn has discussed humanoid deployments at its new Houston plant.

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In the robotics space, Nvidia benefits no matter which company takes the lion's share of the market because the training, simulation, and edge compute layer runs through its stack.

Three paths into robotics dominance
The robotics revolution is here, and key inflection points are barreling toward humanity at light speed. Investors would thus be wise to own at least one major robotics stock. These three industry behemoths are solid picks because each company offers a distinct risk profile and value proposition.

Tesla offers massive upside if Optimus hits production and cost targets. Amazon demonstrates operational execution with a million robots already generating value and millions more in production. Nvidia owns the infrastructure layer that nearly every robotics company requires to develop advanced features. All three benefit as robots move from lab curiosities to industrial necessities.

Striking workers at Boeing Defense in the St. Louis area rejected the company’s latest contract proposal on Sunday, sending a strike that has already delayed delivery of fighter jets and other programs into its 13th week.

In a statement after the vote, union leadership said the company had failed to address the needs of the roughly 3,200 members of the International Association of Machinists and Aerospace Workers District 837.

“Boeing claimed they listened to their employees — the result of today’s vote proves they have not,” IAM International President Brian Bryant said in a statement. “Boeing’s corporate executives continue to insult the very people who build the world’s most advanced military aircraft — the same planes and military systems that keep our servicemembers and nation safe.”

Boeing’s latest offer was largely the same as offers previously rejected by union members. REUTERS
The five-year offer was largely the same as offers previously rejected by union members. The company reduced the ratification bonus but added $3,000 in Boeing shares that vest over three years and a $1,000 retention bonus in four years. It also improved wage growth for workers at the top of the pay scale in the fourth year of the contract.

“To fund the increases in this offer, we had to make trade-offs,” including reduced hourly wage increases tied to attendance and certain shift work, Boeing Vice President Dan Gillian said in a message to workers on Thursday.

IAM leaders have pressed the planemaker for higher retirement plan contributions and a ratification bonus closer to the $12,000 that Boeing gave to union members on strike last year in the company’s commercial airplane division in the Pacific Northwest.

Boeing’s Gillian has called the company’s offer a landmark deal and “market-leading,” and he has repeatedly said Boeing would not increase the overall value of its terms, and only shift value around.

Boeing is expected to report another unprofitable quarter when it posts its third-quarter results on Wednesday. Wall Street analysts anticipate the company will announce a multi-billion dollar charge on its 777X program, which is six years behind schedule and not yet certified by regulators.

Boeing unionized workers in the St. Louis area have been on strike since Aug. 4. AP
In September, IAM members approved the union’s proposed four-year contract. However, Boeing management has refused to consider that offer.

The IAM estimates that its offer would add about $50 million to the agreement’s cost over its four-year duration, compared with the company offer that was rejected. Boeing CEO Kelly Ortberg is set to earn $22 million this year.

Union officials accused Boeing of bargaining in bad faith in an unfair labor practice charge filed Oct. 16 with the National Labor Relations Board.

Boeing has delayed deliveries of its F-15EX fighter.
“It’s well past time for Boeing to stop cheaping out on the workers who make its success possible and bargain a fair deal that respects their skill and sacrifice,” Bryant said.

Union members say they are getting by on a mix of $300 a week in strike benefits from the IAM, second jobs, and belt-tightening. Boeing has said that striking workers’ coverage under company-provided health insurance ended on Aug. 30.

Since the strike began on Aug. 4, Boeing officials have repeatedly said the company’s mitigation plan has limited the effects of the work stoppage on production.

However, it has delayed deliveries of F-15EX fighters to the US Air Force, Gen. Kenneth Wilsbach told the Senate Armed Services Committee in comments submitted for a Oct. 9 hearing on his nomination as the Air Force’s chief of staff.

In Canada, lecanemab is indicated for the treatment of adult patients with a clinical diagnosis of mild cognitive impairment or mild dementia due to Alzheimer’s disease (early AD) who are apolipoprotein E ε4 (ApoE ε4*) non-carriers or heterozygotes and who have confirmed amyloid pathology

October 26, 2025 19:30 ET

 | Source:

Biogen Inc.

TOKYO and CAMBRIDGE, Mass., Oct. 26, 2025 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, “Biogen”) announced today that Health Canada has issued a Notice of Compliance with Conditions (NOC/c) for humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody “LEQEMBI®” (lecanemab) for the treatment of adult patients with a clinical diagnosis of mild cognitive impairment or mild dementia due to Alzheimer’s disease (early AD) who are apolipoprotein E ε4 (ApoE ε4*) non-carriers or heterozygotes and who have confirmed amyloid pathology. LEQEMBI is the first treatment for early AD that targets an underlying cause of the disease, to be authorized in Canada.

LEQEMBI selectively binds to soluble Aβ aggregates (protofibrils**), as well as insoluble Aβ aggregates (fibrils) which are a major component of Aβ plaques, thereby reducing both Aβ protofibrils and Aβ plaques in the brain. LEQEMBI is the first approved treatment shown to reduce the rate of disease progression and to slow cognitive and functional decline in adults with AD. LEQEMBI is also approved in 51 countries and regions including Japan,1 the United States,2 Europe,3 China,4 South Korea,5 Taiwan,6 and SaudiArabia,7 and applications have been filed in 9 countries.

The approval of LEQEMBI is based on the large global Phase 3 Clarity AD study. In the Clarity AD study, LEQEMBI met its primary endpoint and all key secondary endpoints with statistically significant results.8,9 LEQEMBI has been issued market authorization with conditions, pending the results of trials to verify its clinical benefit. Eisai plans to submit clinical assessment data captured from participants in real-world clinical practice.

AD is the most common form of dementia, accounting for 60 to 80% of all cases.10 As of January 1, 2025, it is estimated there are more than 771,000 patients with dementia in Canada, which is expected to increase to approximately 1 million in 2030 and over 1.7 million in 2050.11 In addition, annual care provided by family and friends for those with dementia is equivalent to 290,000 full-time jobs, which is expected to increase to 690,000 full-time jobs in 2050.11

Eisai serves as the lead for lecanemab’s development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. In Canada, Eisai Limited will distribute the product and conduct information provision activities. Eisai and Biogen are committed to working together with healthcare professionals and other stakeholders towards the early treatment of AD.

* Apolipoprotein E is a protein involved in the metabolism of lipid in humans. It is implicated in AD. People with only one (heterozygous) or no copy (non-carriers) of the ApoE ε4 gene are less likely to experience ARIA than people with two ApoE ε4 copies (homozygous).12
** Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.13 Protofibrils cause injury to neurons in the brain, which in turn, can negatively impact cognitive function via multiple mechanisms, not only increasing the development of insoluble Aβ plaques but also increasing direct damage to brain cell membranes and the connections that transmit signals between nerve cells or nerve cells and other cells. It is believed the reduction of protofibrils may prevent the progression of AD by reducing damage to neurons in the brain and cognitive dysfunction.14

MEDIA CONTACTS Eisai Co., Ltd.
Public Relations Department
TEL: +81 (0)3-3817-5120Eisai Inc. (U.S.)
Libby Holman
+1-201-753-1945
[email protected]

Biogen Inc.
Madeleine Shin
+ 1-781-464-3260
[email protected] INVESTOR CONTACTS   Eisai Co., Ltd.
Investor Relations Department
TEL: +81 (0) 3-3817-5122Biogen Inc.
Tim Power
+ 1-781-464-2442
[email protected]   Notes to Editors

1.  About lecanemab (generic name, brand name: LEQEMBI®)
Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ).

LEQEMBI’s approvals in these countries was based on Phase 3 data from Eisai’s, global Clarity AD clinical trial, in which it met its primary endpoint and all key secondary endpoints with statistically significant results.8,9 The primary endpoint was the global cognitive and functional scale, Clinical Dementia Rating Sum of Boxes (CDR-SB). In the Clarity AD clinical trial, treatment with LEQEMBI reduced clinical decline on CDR-SB by 27% at 18 months compared to placebo. The mean CDR-SB score at baseline was approximately 3.2 in both groups. The adjusted least-squares mean change from baseline at 18 months was 1.21 with LEQEMBI and 1.66 with placebo (difference, −0.45; 95% confidence interval [CI], −0.67 to −0.23; P<0.001). In addition, the secondary endpoint from the AD Cooperative Study-Activities of Daily Living Scale for Mild Cognitive Impairment (ADCS-MCI-ADL), which measures information provided by people caring for patients with AD, noted a statistically significant benefit of 37% compared to placebo. The adjusted mean change from baseline at 18 months in the ADCS-MCI-ADL score was −3.5 in the LEQEMBI group and −5.5 in the placebo group (difference, 2.0; 95% CI, 1.2 to 2.8; P<0.001). The ADCS MCI-ADL assesses the ability of patients to function independently, including being able to dress, feed themselves and participate in community activities. The most common adverse events (>10%) in the LEQEMBI group were infusion reactions, ARIA-H (combined cerebral microhemorrhages, cerebral macrohemorrhages, and superficial siderosis), ARIA-E (edema/effusion), headache, and fall.

LEQEMBI is approved in 51 countries and regions including Japan,1 the United States,2 Europe,3 China,4 South Korea,5 Taiwan,6 and SaudiArabia,7 and applications have been filed in 9 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks was approved in the U.S. and China, and others, and applications have been filed in 5 countries and regions.

LEQEMBI's approvals in these countries was based on Phase 3 data from Eisai's, global Clarity AD clinical trial, in which it met its primary endpoint and all key secondary endpoints with statistically significant results. The primary endpoint was the global cognitive and functional scale, Clinical Dementia Rating Sum of Boxes (CDR-SB).8,12 The U.S. FDA approved Eisai’s Biologics License Application (BLA) for subcutaneous maintenance dosing with LEQEMBI IQLIK in August 2025. In September 2025, the rolling sBLA application to the U.S. FDA for the subcutaneous initiation dosing with LEQEMBI IQLIK was also initiated.

Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing and includes lecanemab as the backbone anti-amyloid therapy.

2.  About the Collaboration between Eisai and Biogen for AD
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority.

3.  About the Collaboration between Eisai and BioArctic for AD
Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015.

4.  About Eisai Co., Ltd.
Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology.

In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai. Co., Ltd.), us.eisai.com (for U.S. headquarters: Eisai, Inc.) or www.eisai.eu (for Europe, Middle East, Africa, Russia, Australia and New Zealand headquarters: Eisai Europe Ltd.), and connect with us on X (global and U.S), LinkedIn (for global, U.S. and EMEA) and Facebook (global).

5.   About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor
This news release contains forward-looking statements, including about the potential clinical effects of lecanemab (LEQEMBI); the potential benefits, safety and efficacy of LEQEMBI; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including  lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements. 

These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; and third party collaboration risks, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements. 

References

Reuters. 2023. Japan approves Alzheimer's treatment Leqembi by Eisai and Biogen. Last accessed: July 2025.U.S. Food and Drug Administration. 2023. FDA Converts Novel Alzheimer's Disease Treatment to Traditional Approval. Last accessed: July 2025.Reuters. 2025. EU authorizes Eisai-Biogen's drug for early Alzheimer's treatment. Last accessed: October 2025.The Pharma Letter. 2024. Brief - Alzheimer drug Leqembi now approved in China. Last accessed: July 2025.Pharmaceutical Technology. 2024. South Korea's MFDS approves Eisai-Biogen's LEQEMBI for Alzheimer's. Last accessed: July 2025.Taiwan Food and Drug Administration Assessment Report. http://bit.ly/454Oawe. Last accessed: July 2025.Saudi Food & DrugAuthority. 2025. SFDA Approves the Registration of “Leqembi” as the First Alzheimer’s Treatment in Saudi Arabia. Last accessed: August 2025.Eisai presents full results of lecanemab Phase 3 confirmatory Clarity AD study for early Alzheimer's disease at Clinical Trials on Alzheimer's Disease (CTAD) conference. Available at: https://www.eisai.co.jp/news/2022/news202285.htmlvan Dyck, H., et al. Lecanemab in Early Alzheimer’s Disease. New England Journal of Medicine. 2023;388:9-21. https://www.nejm.org/doi/full/10.1056/NEJMoa2212948.Alzheimer Society of Canada “What is Alzheimer's disease?”. Available at: https://alzheimer.ca/en/about-dementia/what-alzheimers-disease Last accessed: June 2025.Alzheimer Society of Canada “Dementia numbers in Canada”. Available at: https://alzheimer.ca/en/about-dementia/what-dementia/dementia-numbers-canada Last accessed: June 2025.van Dyck, C.H., et al. Lecanemab in Early Alzheimer’s Disease. New England Journal of Medicine. 2023;388:9-21. https://www.nejm.org/doi/full/10.1056/NEJMoa2212948.Amin L, Harris DA. Aβ receptors specifically recognize molecular features displayed by fibril ends and neurotoxic oligomers. Nat Commun. 2021;12:3451. doi:10.1038/s41467-021-23507-zOno K, Tsuji M. Protofibrils of Amyloid-β are Important Targets of a Disease-Modifying Approach for Alzheimer's Disease. Int J Mol Sci. 2020;21(3):952. doi: 10.3390/ijms21030952. PMID: 32023927; PMCID: PMC7037706.

The company presented the 'AIN Family' which consists of NAND solution products optimized for performance(P), bandwidth(B), and density(D) respectively for AI
SK hynix held 'HBF Night' to expand the 'AIN B'(HBF product) ecosystem with a number of global big tech officials in attendance
Company will collaborate closely with customers and partners to become a key player in the next generation NAND storage market

, /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it presented its next-generation NAND storage product strategy at the '2025 OCP (Open Compute Project) Global Summit', held in San Jose, California, from October 13 to 16.

SK hynix said that, with the rapid growth of the AI inference market, the demand for NAND storage products capable of process large volume data quickly and efficiently is increasing dramatically. The company will fulfill customer needs by establishing the 'AIN (AI-NAND) Family' lineup of solution products, optimized for the AI era.

Chun Sung Kim, Head of eSSD Product Development at SK hynix, presented the AIN Family during the Executive Session on the second day of the event.

The AIN Family consists of NAND solution products optimized for performance, bandwidth, and density respectively which is designed to enhanced data processing speed and storage capacity. 

AIN P (Performance) is a solution to efficiently process large volume data generated under large-scale AI inference workloads. The product significantly boosts processing speed and energy efficiency by minimizing the bottleneck between storage and AI operations. SK hynix is designing NAND and controllers with new structures and plans to release samples by the end of 2026.

AIN D (Density) is a high density solution designed to store large amount of data with low power consumption and cost suitable for storing AI data. The company targets to increase density to petabyte (PB) level from terabyte (TB) of current QLC*-based SSDs, and to aim for mid-end storage solution which implements both the speed of SSD and the cost efficiency of HDD.

* QLC: NAND flash is categorized as single-level cell (SLC), multi-level cell (MLC), triple-level cell (TLC), QLC, and penta-level cell (PLC) depending on how many data bits can be stored in one cell. As the amount of information storage increases, more data can be stored in the same volume.

AIN B (Bandwidth) is SK hynix's solution leveraging HBF™* technology. This product expands bandwidth by vertically stacking multiple NANDs.

* HBF (High Bandwidth Flash): Similar to HBM which stacks DRAM dies, HBF is a product which is made by vertically stacking multiple NAND flash. 

With global top level HBM development and production capabilities, SK hynix has been conducting researches on AIN B from early stage to address the memory capacity gap driven by the expansion of AI inference and scaling up of LLMs*. The key is to combine HBM's stacking structure with high density and cost efficient NAND flash. The company is taking various strategies for AIN B into consideration, such as placing together with HBM to enhance overall system capacity.

* LLM (Large Language Model): An AI model trained on massive datasets that understands and generates natural language processing tasks.

SK hynix jointly hosted 'HBF Night' with Sandisk, after both parties entered an MOU for HBF standardization in August, to expand the technology ecosystem. The event was held at The Tech Interactive, near the OCP Global Summit venue, on the 14th.

At the event, a panel discussion featuring Korean and foreign faculty members was held, with the participation of numerous industry architects* and engineers participated. During the event, a collaborative effort across the industry was proposed to accelerate innovation in NAND storage products.

* Architect: Semiconductor, system design experts

"Through OCP Global Summit and HBF Night, we were able to showcase SK hynix's present and future as a global AI memory solution provider, thriving in a rapidly evolving AI market," Ahn Hyun, President and Chief Development Officer said. "In the next generation NAND storage market, SK hynix will collaborate closely with customers and partners to become a key player."

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM") and flash memory chips ("NAND flash") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

SOURCE SK hynix Inc.

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The proportion of participants achieving HbA1c < 7.0% and a ≥10% reduction in body weight from baseline was 48.0% in the mazdutide group and 21.0% in the semaglutide group
DREAMS-3 is the world's first Phase 3 clinical trial of a GCG/GLP-1 dual receptor agonist to conduct a head-to-head comparison with semaglutide in diabetes treatment

, /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncologic, autoimmune, cardiovascular and metabolic, ophthalmologic and other major diseases, announces that the fourth Phase 3 clinical trial DREAMS-3 of mazdutide, a glucagon-like peptide-1 (GLP-1) and glucagon (GCG) dual receptor agonist, has met its primary endpoint. The results demonstrated that, in Chinese patients with type 2 diabetes (T2D) and obesity, mazdutide showed superior efficacy to semaglutide on the primary endpoint—the proportion of participants achieving HbA1c < 7.0% and ≥10% body weight reduction from baseline at week 32 (48.0 vs. 21.0%, p<0.0001). In addition, at week 32, the mean change in HbA1c from baseline was −2.03% in the mazdutide group and −1.84% in semaglutide group, respectively, and the mean percentage weight reduction from baseline was 10.29% in the mazdutide group and 6.00% in the semaglutide group, respectively (both p<0.05). During the study, the overall safety profile of mazdutide was consistent with previous clinical studies, with no new safety signals identified. Gastrointestinal symptoms were the most common adverse events, mostly mild to moderate in severity.

Professor Linong Ji, the Principal Investigator of the DREAMS-3, Peking University People's Hospital, stated: "Diabetes and obesity share similar epidemic trends. Among the vast population with T2D in China, the proportion of those with comorbid obesity has been increasing. Previous studies have indicated that, compared with non-obese patients with diabetes, patients with T2D and comorbid obesity experience more challenging glycemic control, along with a significant increase in cardiovascular mortality risk and overall cardiovascular disease risk. Therefore, treatment strategies that address both glycemic control and weight loss are playing an increasingly critical role in improving clinical outcomes for patients with T2D and comorbid obesity. In recent years, GLP-1 receptor agonists have become a key therapeutic option for type 2 diabetes—particularly for patients with comorbid obesity—owing to their benefits, including glycemic control, weight reduction, and cardiorenal protection. As the world's first approved GCG/GLP-1 dual receptor agonist, mazdutide has demonstrated superior efficacy in glucose lowering and weight loss over semaglutide in the latest Phase 3 clinical trial; mazdutide also provides multiple metabolic benefits and has a favorable safety profile, making it a new-generation GLP-1-based therapy suitable for Chinese patients. We believe that mazdutide can bring benefits to patients with T2D and comorbid obesity who are appropriate candidates for this class of therapy—to control blood glucose, effectively manage weight, and improve overall health status."

Dr. Lei Qian, Chief R&D Officer of General Biomedicine from Innovent Biologics, stated: "China has a large number of patients with obesity and other comorbidities, underscoring an urgent need for more effective, safer, and more convenient innovative therapies. Mazdutide is the world's first and only approved GCG/GLP-1 dual receptor agonist indicated for both weight management and the treatment of T2D. Previous registrational studies in Chinese T2D participants (DREAMS-1 and DREAMS-2) have demonstrated mazdutide's benefits across glycemic control, weight reduction, and multiple metabolic indicators. The head-to-head DREAMS-3 study comparing mazdutide with semaglutide further showed that, in patients with T2D and comorbid obesity, mazdutide provides superior efficacy in both weight loss and glucose lowering. With successive approvals for weight management and T2D indications, we believe mazdutide will benefit a wide range of patients requiring multifaceted improvements in glycemic control, body weight, and cardiometabolic risk factors."

About DREAMS-3

DREAMS-3 (NCT06184568) was a multi-center, randomized, open-label phase 3 trial. The trial enrolled 349 Chinese adults with early-stage T2D (duration less than 10 years) and obesity who had inadequate glycemic and weight control after lifestyle intervention with or without metformin monotherapy (mean age: 42.4 years, mean baseline HbA1c: 8.02%, mean baseline body weight: 90.47 kg, mean baseline BMI: 32.98 kg/m2). Participants were randomized in a 1:1 ratio to receive mazdutide 6 mg or semaglutide 1 mg for 32 weeks (active-controlled treatment period). In the extension period, participants originally on mazdutide were assigned to continue mazdutide treatment at different doses for another 24 weeks, based on whether they achieved the weight-loss target. The primary endpoint was the proportion of participants achieving HbA1c < 7.0% and a ≥10% reduction in body weight from baseline at week 32.

About Mazdutide

Innovent entered into an exclusive license agreement with Eli Lilly and Company (Lilly) for the development and potential commercialization of mazdutide, a dual GCG /GLP-1 receptor agonist, in China. As a mammalian oxyntomodulin (OXM) analogue, in addition to the effects of GLP-1 receptor agonists on promoting insulin secretion, lowering blood glucose and reducing body weight, mazdutide may also increase energy expenditure and improve hepatic fat metabolism through the activation of glucagon receptor. Mazdutide has demonstrated excellent weight loss and glucose-lowering effects in clinical studies, as well as reducing waist circumference, blood lipids, blood pressure, serum uric acid, liver enzymes, liver fat content and improved insulin sensitivity.

Seven Phase 3 clinical studies of mazdutide have been completed or are ongoing, including:

GLORY-1: A Phase 3 clinical study conducted in Chinese adults with overweight of obesity;
GLORY-2: A Phase 3 clinical study conducted in Chinese adults with moderately to severely obesity;
GLORY-3: A Phase 3 clinical study comparing mazdutide versus semaglutide in Chinese adults with overweight of obesity accompanied metabolic-associated fatty liver disease (MAFLD);
GLORY-OSA: A Phase 3 trial in Chinese participants with obstructive sleep apnea (OSA) and obesity;
DREAMS-1: A Phase 3 clinical study conducted in Chinese adults with untreated type 2 diabetes;
DREAMS-2: A Phase 3 clinical study comparing mazdutide versus dulaglutide in Chinese adults with type 2 diabetes who have poor glycemia control with oral medication;
DREAMS-3: A Phase 3 clinical study comparing mazdutide versus semaglutide in Chinese adults with type 2 diabetes and obesity;

Among these, GLORY-1, DREAMS-1, DREAMS-2 and DREAMS-3 have already met their primary endpoints and the other three studies are also currently ongoing.

In addition, several new clinical studies of mazdutide are initiated or planned, including those in adolescents with obesity, metabolic dysfunction–associated steatohepatitis (MASH), heart failure with preserved ejection fraction (HFpEF), and a higher-dose head-to-head study versus tirzepatide in moderate to severe obesity.

*Mazdutide has received NMPA approval for two indications:

First Indication: as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial Body Mass Index (BMI) of:

BMI ≥ 28 kg/m² (obesity); or
BMI ≥ 24 kg/m² (overweight) in the presence of at least one weight-related comorbid condition (e.g., hyperglycemia, hypertension, dyslipidemia, fatty liver, or obstructive sleep apnea syndrome and etc.);

Second Indication: glycemic control in adults with type 2 diabetes:

Monotherapy
For adults with type 2 diabetes who have inadequate glycemic control despite diet and exercise interventions.

Combination Therapy
For adults with T2D who still have poor glycemic control despite:
Diet and exercise, plus Metformin and/or sulfonylureas, or Metformin and/or SGLT2 inhibitors (SGLT2i).

About Innovent Biologics

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 16 products in the market. It has 2 new drug applications under regulatory review, 4 assets in Phase 3 or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Roche, Takeda,Sanofi, Incyte, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action" Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Statement: Innovent does not recommend the use of any unapproved drug (s)/indication (s).

Forward-looking statement

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.

Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.

SOURCE Innovent Biologics

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A partnership with Nvidia has helped supercharge this Ohio business' prospects.

It's been a rough year for shareholders of some of Ohio's top companies. Shares of consumer goods giant Procter & Gamble are down nearly 10% for the year, while tire maker Goodyear's stock is down more than 20%.

Meanwhile, the stock of one Ohio-based company is not only up more than 50% so far this year, but has skyrocketed more than 850% over the last five years.

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Is it too late to buy shares of Ohio superstar Vertiv Holdings (VRT +1.56%)? Here's what investors need to know.

What Vertiv does
Headquartered in Columbus, Vertiv designs, manufactures, and services digital infrastructure for data centers, communication networks, and commercial and industrial facilities. Its primary products include power supply systems, cooling systems, and server racks for data centers. It also provides service and maintenance of those systems and components. With about 31,000 employees in 40 countries, Vertiv supplies customers in a variety of industries, including cloud services, financial services, manufacturing, energy, and more.

Vertiv's most crucial customers are so-called "hyperscalers." These companies operate immense global networks of data centers and provide large-scale cloud computing or data storage, and management to their customers. They include companies like Amazon's (AMZN +1.43%) Amazon Web Services (AWS), Oracle, and Microsoft Azure.

Because the hyperscalers are committing so much of their focus to artificial intelligence (AI) -- which has notoriously high usage rates for both data and computing power -- data centers are in high demand. However, the data centers don't just consist of high-powered microchips from Nvidia (NVDA +2.26%) and network hardware from Arista Networks (ANET +1.02%). They require specialty power supply systems and massive cooling systems to prevent the servers from overheating. That's where Vertiv comes in.

Image source: Getty Images.

A big-name partner
As a specialist in data center power and cooling systems, Vertiv has become a go-to designer for such systems for major industry players. In fact, Vertiv has announced several important partnerships to develop the next generation of data center technology.

When it comes to data center processing power, there's really only one name that matters: Nvidia. Because Nvidia is the undisputed leading manufacturer of top-of-the-line microprocessors for AI applications, the entire data center industry's hardware is configured to Nvidia's specifications. That's why it's a major win for Vertiv to have been chosen to collaborate with Nvidia to redesign data center power architecture for the next generation of efficiency and computing power.

Current data centers are largely reliant on 54 VDC power distribution systems, which are limited to power levels below 200 kilowatts. However, next-generation computing requires megawatt-scale (1,000-kilowatt) power. The new 800 VDC systems being jointly developed by Nvidia and Vertiv feature increased voltage to enable much higher power capacity.

These new systems, which aren't expected to be deployed until 2027, should help Vertiv's backlog -- contracted orders that it hasn't yet fulfilled -- continue to grow. The company's backlog has already grown 55% in the last 18 months, from $5.5 billion at the end of 2023 to $8.5 billion in its most recent quarter.

Is it too late to buy?
Vertiv's growth has been very strong recently, with net sales up 35% year over year in the most recent quarter, operating profit up 32%, and per-share earnings up 42%. But the company's stock price has grown even faster, up 55% in the past year, and 850% in the last five years. It's reasonable to ask whether the stock has gotten too expensive to buy.

Well, it's certainly more expensive than it was in 2023, but the projected growth isn't expected to dry up anytime soon. The company currently trades at a trailing price-to-earnings (P/E) ratio of 83.6, which is very expensive. But thanks to its strong growth projections, its forward P/E ratio -- which measures against expected earnings -- is just 45.6. That's roughly the midpoint of Nvidia's 40.2 and Arista Networks' 52.

In other words, if you think the AI-powered data center boom will keep booming over the long term -- and there's a lot of evidence suggesting it will -- Vertiv looks fairly valued. Plus, its prospects look rosy compared to many other Ohio companies. For investors bullish on tech, Vertiv is an Ohio company that seems worthy of investment.

John Bromels has positions in Amazon, Microsoft, Nvidia, and Procter & Gamble. The Motley Fool has positions in and recommends Amazon, Arista Networks, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

David Tepper massively increased his stake in Nvidia during Q2.

Taking a look at what billionaire investors are doing is a smart gut check for investors. By looking at trades of some of the market's most successful investors, you can see if your strategy aligns with their moves.

Luckily, this information is available to all investors, as any entity with $100 million or more in assets must file a Form 13-F with the SEC, which is then disclosed to the public 45 days after a quarter ends.

One investor I like to follow is billionaire David Tepper, who runs Appaloosa Management. In Q2, David Tepper and Appaloosa sold 150,000 shares of Meta Platforms. That amounts to about $100 million worth of Meta stock at today's prices.

However, Tepper didn't let those proceeds just sit in cash because he's scared of a potential artificial intelligence (AI) bubble. Instead, he stuck that money back into Nvidia (NVDA +2.25%). Tepper also sold some other stocks to fund this investment, as he purchased 1.45 million shares of Nvidia during Q2, which cost over $260 million at today's prices.

That's a huge vote of confidence for Nvidia, especially with many investors wondering if there could be an AI bubble forming. However, I think investors don't need to be worried about it, and with some of Wall Street's smartest money managers also backing Nvidia's stock, I think there's plenty of room for this giant to run.

The AI arms race is still ongoing
Nvidia makes graphics processing units (GPUs), which are general-purpose computing units that can process multiple calculations at once. This makes them suited for difficult workloads, like what artificial intelligence (AI) presents. Nvidia has been the undisputed king of AI computing equipment since the arms race began in 2023, but two other companies are challenging that authority.

AMD and Broadcom are both worthy competitors, and recent product wins with OpenAI, the makers of ChatGPT, have caused investors to wonder if Nvidia is losing its edge. However, Nvidia also announced its own deal with OpenAI, along with many others, like xAI.

The reality is, Nvidia's technology and hardware stack are still better than the competition -- it's just a lot more expensive. With how much computing power AI hyperscalers are finding necessary to drive their ambitions, it's no surprise that they're looking at cheaper alternatives.

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Still, Nvidia holds a commanding lead over the competition, and it's unlikely that it will lose much market share to these other competitors. Even if it does, there's still a ton of opportunity to go around.

AI data center buildouts are ramping up
With Tepper selling Meta Platforms and buying Nvidia, it's a sign he thinks there will still be plenty of AI spending to come. This makes investing in an AI hardware provider like Nvidia a better idea than an AI hyperscaler like Meta Platforms.

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In 2025, Nvidia expects global data center capital expenditures to reach $600 billion. However, by 2030, Nvidia expects this figure to rise to $3 trillion to $4 trillion. That's huge growth, and Nvidia is set to take a huge chunk of that pie.

Nvidia CEO and cofounder Jensen Huang also stated that about $35 billion of a $50 billion data center goes toward Nvidia. So even if Nvidia can only capture 50% of the global computing market (most estimates peg Nvidia's current market share at 90%), it will still be in fantastic shape.

Many of these monstrous announcements regarding AI spending span multiple years, so the notion that we're suddenly entering an AI bubble isn't correct, in my opinion. It will take several years for this spending to come to fruition, and these announcements are just that: announcements. Time will tell if OpenAI or any of its AI hyperscaler peers will convert on what they say, but if they do, Nvidia is slated to benefit. As a result, I think investors would be wise to follow in Tepper's footsteps and scoop up shares of Nvidia.