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AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) has agreed to pay $600 million upfront to secure worldwide rights to a lung cancer pill developed by China's Dizal Pharmaceutical.

The Cambridge-based drugmaker could pay a further $900 million if the treatment hits certain development, regulatory and sales targets.

Dizal will also receive a share of future global sales.

The drug, sold under the brand name Zegfrovy, is a once-daily tablet that treats a common form of lung cancer.

It targets non-small cell lung cancer, which accounts for around 80% to 85% of all lung cancer cases.

Specifically, it is designed for patients whose tumours carry a genetic fault known as an exon 20 insertion mutation, an error in the DNA that helps drive cancer growth.

Such patients have historically had few targeted treatment options.

The pill works by blocking a protein called EGFR, which sits on the surface of cells and can fuel the growth of tumours when it malfunctions.

Zegfrovy is already approved in the United States and China for patients whose cancer has returned after standard chemotherapy.

The deal hands AstraZeneca the rights to sell and further develop the drug everywhere else in the world.

Dave Fredrickson, who runs AstraZeneca's oncology business, said the treatment would give patients with limited options a differentiated oral therapy.

Xiaolin Zhang, chief executive of Dizal, said the larger partner would help bring the drug, discovered by Chinese scientists, to patients globally.

The agreement adds to AstraZeneca's existing stable of lung cancer medicines, which includes its blockbuster tablet Tagrisso.

Dizal recently reported positive results from a late-stage trial testing Zegfrovy as a first treatment for newly diagnosed patients, rather than only after chemotherapy has failed.

Those findings were presented at a major cancer conference and published in the New England Journal of Medicine.

On the strength of that data, applications to expand the drug's approved use have been filed with regulators in both the United States and China.

The transaction is expected to complete in the second half of 2026, subject to regulatory clearance.

AstraZeneca said the deal would not affect its financial guidance for the year.

Lung cancer remains the leading cause of cancer death worldwide, accounting for roughly one in five such deaths.

Ondo launches 24/7 minting and redemption for tokenized stocks, closing a weekend gap that has cost traders up to 46 times more on other platforms.

Trading a tokenized stock at 2 a.m. on a Sunday used to mean one thing, moving an asset between wallets, not actually creating or redeeming it. Ondo just changed that.

Ondo has launched 24/7 instant minting and redemption for tokenized U.S. stocks and ETFs, live now across Ethereum, BNB Chain, and Solana. 

The upgrade expands beyond Ondo's existing 24/5 minting window and applies to six of its most actively traded tokenized assets, SPYon, QQQon, CRCLon, NVDAon, TSLAon, and GOOGLon, with more expected to follow.

Why this is actually newSeveral platforms have advertised 24/7 trading for tokenized stocks before. 

But that claim has always come with an asterisk, the round-the-clock access has applied only to transferring an asset between wallets or exchanges, not to minting new tokens or redeeming existing ones for cash. 

Minting and redemption, the actual creation and settlement of these tokenized assets, has continued to follow traditional market hours, pausing over weekends just like the underlying stock exchanges.

Ondo Stocks already supported 24/7 permissionless transfers, letting users hold and move tokenized assets across supported wallets, exchanges, and protocols at any time.

What was missing was the ability to mint or redeem those same assets outside of standard trading hours. This update closes that gap, eligible users can now mint or redeem supported assets at the current prevailing price, any day, at any hour, including weekends and U.S. public holidays.

Why the price you pay depends on where you tradeThe practical impact of this shows up most clearly in execution costs. 

Ondo shared data comparing weekend trading costs on its platform against other tokenized stock venues.

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For a $100,000 trade in tokenized Circle stock (CRCLon), execution cost on Ondo averaged $33, compared to $835 on another platform, 25 times higher. Tokenized Google stock (GOOGLon) showed the widest gap, costing $43 on Ondo versus $1,644 elsewhere, 38 times higher. Tokenized Nvidia stock (NVDAon) showed the largest multiple of all, at $13 on Ondo versus $738 elsewhere, 57 times higher. Tesla showed a 25 times gap, the Invesco QQQ ETF showed a 7 times gap, and the SPDR S&P 500 ETF showed a 5 times gap.

Trending on TheStreet Roundtable:Cathie Wood's ARK issues bold prediction on U.S. digital dollarAnalysts stunned by Robinhood's $3.1 billion debut weekMicroStrategy sells shares to boost U.S. dollar reserveThis gap comes down to how liquidity is sourced. Ondo's tokenized stocks draw liquidity directly from public markets, where trading depth is substantial. 

Other platforms rely on onchain liquidity pools, which are limited in depth by design, meaning larger trades, especially over weekends when markets are thinner, can move prices significantly and cost traders far more.

Why this matters for tokenized markets broadlyDemand for always-on access to traditional financial assets has been growing steadily, as investors increasingly expect the same speed and flexibility from tokenized stocks that they already get trading crypto. 

By extending minting and redemption to a full 24/7 cycle, Ondo is positioning tokenized stocks to function with the same continuous liquidity and utility as the crypto markets they trade alongside.

Ondo Stocks has built a significant lead in this space already, listing more than 430 tokenized stocks and ETFs across Solana, Ethereum, and BNB Chain, and becoming the first platform in the category to surpass $1 billion in total value locked, more than every other tokenized stock platform combined. 

That infrastructure also allows tokenized stocks to be used as collateral across platforms including Ondo Perps, Morpho, and Euler.

Ondo says this 24/7 minting and redemption upgrade builds directly on that foundation, with further expansion of its always-on infrastructure planned as tokenized markets continue moving toward a fully continuous trading model.

Key Takeaways HYPE has declined more than 2% on Monday, with the token now challenging critical support near the $68.50 trendline Futures Open Interest contracted by over 2% across 24 hours to reach $2.72 billion, accompanied by $2.48 million in liquidated long positions Institutional investors poured $10.36 million into HYPE ETFs during the previous week, marking a ninth uninterrupted week of capital inflows Markets launched under HIP-3 have expanded their share of Hyperliquid perpetual trading volume from 2% to approximately 50% throughout 2026 Critical support rests at the 50-day EMA level of $63.13; a breakdown beneath this threshold may drive prices toward $53.71 Hyperliquid (HYPE) is currently exchanging hands near $65 on Monday, reflecting a decline exceeding 2% as widespread risk aversion across markets weighs on cryptocurrency valuations. This downturn continues the negative price movement observed during the previous week.

Hyperliquid (HYPE) Price Escalating geopolitical tensions between the United States and Iran centered around oil tanker navigation rights in the Strait of Hormuz have triggered a flight from risk-oriented assets, with cryptocurrencies caught in the selloff. Alternative tokens such as HYPE have experienced heightened selling pressure as a result.

Derivatives market intelligence from CoinGlass indicates that Open Interest decreased by more than 2% during the last 24-hour period, settling at $2.72 billion. Aggregate liquidation events reached $2.93 million, with positions betting on price increases accounting for $2.48 million of this figure.

The funding rate metric has experienced a pronounced decline to 0.0275%, signaling an increase in traders establishing short positions. This represents a notable departure from the optimistic market positioning observed in prior weeks.

Institutional Capital Continues Flowing In Notwithstanding near-term price weakness, HYPE exchange-traded funds attracted $10.36 million in net inflows throughout the past week. This achievement represents the ninth consecutive week that institutional investment vehicles focused on HYPE have recorded positive capital flows.

Source: SoSoValue Cryptocurrency analyst Michaël van de Poppe shared an optimistic assessment on July 12, stating that the HYPE chart “is ready to break out upwards” with a price objective of $100. His thesis rests on consistent revenue expansion, a pattern of ascending peaks and troughs, and the asset maintaining position above both its 21-day and 50-day moving average indicators.

The $HYPE chart is super strong.

It's ready to break out upwards, and the next target is going to be $100.

The reasons for the fact that this is the case:

– Constant revenue growth and value accrual to the token.
– Holding above the 21-Day and 50-Day MA's.
– Constant higher… pic.twitter.com/S6AZSY1Ecr

— Michaël van de Poppe (@CryptoMichNL) July 12, 2026

From a technical perspective, HYPE is currently challenging a breakout from an important ascending trendline situated around $68.50. The 50-day exponential moving average positioned at $63.13 now represents the nearest support zone requiring monitoring.

The Relative Strength Index has deteriorated below the neutral 50 mark to 48, while the MACD indicator is charting below its signal line. These technical readings collectively suggest diminishing bullish momentum.

A daily candle closure beneath the $63.13 threshold could establish conditions for a move toward the 50% Fibonacci retracement level located at $53.71. Conversely, a price recovery scenario would establish the previous swing high at $75.58 as the initial resistance target.

Permissionless Markets Drive Volume Growth Beyond immediate price dynamics, Hyperliquid’s HIP-3 infrastructure has demonstrated explosive adoption. HIP-3 enables developers to launch permissionless perpetual futures markets directly onchain.

The protocol’s contribution to aggregate Hyperliquid perpetual futures volume has surged from roughly 2% when 2026 commenced to approaching 50% presently. This expansion correlates with increasing retail trader appetite for onchain equity derivatives products.

TradeXYZ has emerged as the dominant participant within this category, operating markets including XYZ100 (which tracks the Nasdaq-100 index) alongside individual equity perpetuals on companies like Nvidia and Tesla, all settled using stablecoins.

The continuous 24/7 market availability represents a fundamental attraction point—participants can respond to breaking developments at any moment without restriction to traditional market hours.

HYPE exchange-traded funds documented their ninth consecutive week of institutional capital inflows totaling $10.36 million as of the most recent reporting period.

Moisand Fitzgerald Tamayo, a registered investment advisor (RIA) based in Orlando, Florida, has disclosed that it holds shares of the Franklin XRP exchange-traded fund (ETF).

In its latest 13F filing with the US Securities and Exchange Commission (SEC), the company reported holding 964 shares of the ETF, valued at around $11,000 at press time. The firm boasts $1.35-$1.4 billion in assets under management (AUM) and is currently ranked among the top 500 RIAs in the US and named to the Best Financial Advisory Firms list.

Source: sec.gov

XRP ETFs attract institutional interestA similar Virginia-based firm, Main Street Group, also disclosed XRP exposure. According to its Q2 2026 regulatory filing, the firm holds 5,261 shares (valued at roughly $58,292 at the time of writing) in the Canary XRP ETF.

Additional firms with exposure in various XRP ETFs include Larson Financial Group ($1.8 million), Q3 Asset Management ($430,000), and Hurley Capital ($135,000). These firms join more prominent players like Flow Traders, whose XRP ETF is worth $1.93 million and makes up the largest institutional XRP ETF portfolio.

While the amount of funds invested varies, the above filings indicate increased institutional interest in XRP ETFs. According to MarketBeat, institutional investors purchased over 160,000 XRP ETF shares in the last 24 months. In the past year, inflows into these investment vehicles have totaled $2.50 million with zero outflows.

Source: MarketBeat

Token price is not reflective of ETF inflowsDespite rising institutional investment in XRP ETFs, the token itself is down 62.16% over the past year, trading at $1.06. Investor anticipation of US Fed interest hikes to curb inflation has also caused a recent market downturn, with XRP down over 3% in the past day.

Source: CoinMarketCap

That said, there just may be a silver lining, since the token has printed a chart similar to one from a time when it surged by 60,000%.

Story Ends Here

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Ripple CTO Emeritus David Schwartz has challenged claims that the U.S. Securities and Exchange Commission focused only on Ripple’s sales of XRP. 

Summary

David Schwartz says the SEC repeatedly portrayed XRP itself as a security during Ripple litigation. Marc Fagel argues the case ultimately tested whether Ripple sold XRP through unregistered securities offerings. The 2023 ruling separated XRP tokens from transactions, rejecting programmatic sales while penalizing institutional deals. He said the agency’s complaint and public statements repeatedly described XRP itself as a security before the court rejected parts of that broader position.

The exchange followed comments from former SEC attorney Marc Fagel, who said the case ultimately turned on whether Ripple sold XRP through unregistered securities offerings. Schwartz argued that this summary leaves out the regulator’s original language and the court’s response to it.

Schwartz disputes narrower reading of SEC case In a July 14 X exchange, Fagel said the SEC needed to prove that Ripple sold XRP as a security to establish a Section 5 violation. He added that the agency did not need to decide every secondary-market transaction in its case against Ripple.

Schwartz agreed that Ripple’s sales mattered but rejected the claim that this was the regulator’s only argument. He wrote, “The complaint itself frequently refers to XRP itself as the security.” He called the narrower retelling “an attempt at completely rewriting history.”

You are ignoring the entire thrust of their argument, their statements around it, and the pushback they got from the court. This is an attempt at completely rewriting history.

The complaint itself frequently refers to XRP itself as the security. The SEC's press release… pic.twitter.com/pjF6Ku0Jbf

— David 'JoelKatz' Schwartz (@JoelKatz) July 13, 2026 SEC complaint used broad language around XRP The SEC’s December 2020 complaint said Ripple and its executives sold more than 14.6 billion units of a “digital asset security called XRP.” The regulator alleged that the sales raised more than $1.38 billion without registration or an exemption.

The SEC’s public announcement focused on Ripple’s alleged unregistered offering and its executives’ personal sales. Fagel later acknowledged that the agency’s messaging lacked nuance and that its points appeared to change during the case. He maintained that the final legal question concerned Ripple’s XRP transactions.

Court separated the token from each transaction Judge Analisa Torres drew a distinction between XRP and the contracts or schemes used to sell it. Her July 2023 order said XRP, as a digital token, was not “in and of itself” a contract, transaction or scheme that met the Howey test.

The court then reviewed Ripple’s sales by category. It found that about $728.9 million in direct institutional sales constituted unregistered investment contracts. Programmatic exchange sales did not meet the same test because buyers did not know whether Ripple or another holder sold the tokens.

Ripple case ended with split ruling intact The SEC and Ripple dismissed their appeals in August 2025, formally ending the civil case. The final judgment kept a $125.04 million penalty and a permanent injunction tied to future unregistered institutional sales.

Notably, the XRP community marked July 13 as the third anniversary of the 2023 ruling. The decision protected Ripple’s programmatic exchange sales while leaving its institutional transactions subject to securities law.

Related reporting showed that Ripple considered closing after the SEC filed its complaint. The company continued the case and spent about $150 million on its legal defense, according to Ripple executives, as reported by crypto.news.

Schwartz said the court’s rejection of the SEC’s broader position formed a major part of Ripple’s victory. Fagel said the outcome still centered on whether Ripple’s sales qualified as securities transactions. Their exchange reflects a lasting dispute over the agency’s legal burden, public wording and the ruling that followed. That distinction still shapes how XRP’s legal history is described.

Getting crypto into your bank account has always felt like one too many steps. You sell on an exchange, wait for the withdrawal, pay a fee somewhere in the middle, and hope nothing breaks. Oobit just cut out most of that process for TRX holders.

The Tether-backed payments app announced on March 1, 2026 that users can now send TRX directly from self-custodial wallets to bank accounts via SEPA in Europe, ACH in the United States, and Faster Payments in the United Kingdom. Transfers settle in seconds, with no swaps required and no third-party intermediaries involved.

What Oobit actually built here The feature connects crypto wallets directly to traditional banking rails, three of them specifically, covering the major fiat corridors in Europe, the US, and the UK.

SEPA handles euro-denominated transfers across most of Europe. ACH is the backbone of US dollar bank payments. Faster Payments is the UK’s near-instant pound sterling network.

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The architecture routes transactions through DTR and leverages a partnership with DePay for execution. The absence of an intermediate swap is the notable part. Most crypto-to-bank pathways require converting to a stablecoin or fiat on an exchange first, which adds time, fees, and counterparty exposure. Oobit’s approach removes that layer.

This TRX-specific announcement builds on a broader rollout Oobit made just days earlier. On February 24, 2026, the company launched wallet-to-bank transfers supporting multiple tokens including BTC, ETH, USDT, and TRX. The March 1 announcement zeroed in on TRX specifically, signaling a deliberate push to deepen the TRON ecosystem’s integration with traditional finance.

Why TRON and why now Oobit is not a new name in the TRON ecosystem. The two have worked together previously on Tap and Pay functionality and merchant spending features, meaning this wallet-to-bank integration is the next step in an existing relationship rather than a cold start.

Oobit operates across more than 80 countries and supports transactions in over 180 countries. A wallet-to-bank feature that spans SEPA, ACH, and Faster Payments simultaneously covers most of the world’s retail banking population.

What this means for TRX holders and the broader market For investors holding TRX, the practical upgrade is straightforward. Liquidity becomes easier to access. You no longer need an account on a centralized exchange to convert your position to spendable fiat.

The Tether connection also deserves a mention. Tether, the issuer of USDT and one of the most influential entities in crypto infrastructure, backing Oobit gives the company both credibility and a natural distribution channel. USDT is already the dominant stablecoin on TRON. Having Tether-backed tooling that makes TRX more spendable and more liquid reinforces the network’s position as a payments layer.

The risk worth watching is regulatory. Direct crypto-to-bank transfers sit at the intersection of two heavily regulated industries. Banking regulators in the EU, US, and UK all have views on how fiat exits from crypto should be structured, and those views are not always consistent. Oobit will need to maintain compliance across all three payment rail jurisdictions simultaneously.

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

Regions Financial Corporation (NYSE:RF) will release its second quarter earnings report before the opening bell on Friday, July 17.

Analysts expect the Birmingham, Alabama-based company to report quarterly earnings of 63 cents per share, up from 60 cents per share in the year-ago period. The consensus estimate for Regions Financial’s quarterly revenue is $1.95 billion. It reported $1.92 billion last year, according to Benzinga Pro.

On July 2, Regions Financial announced it has closed on the acquisition of The Frazer Lanier Company, Incorporated.

Regions Financial shares gained 0.2% to close at $31.07 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying RF stock? Here’s what analysts think:

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GUADALAJARA, Mexico, July 14, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) reports its consolidated results for the second quarter ended June 30, 2026 (2Q26). The results presented in this report include the effects of the business combination effective May 1, 2026. The figures are unaudited and have been prepared following International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Summary of Results 2Q26 vs. 2Q25

The sum of aeronautical and non-aeronautical services revenues increased by Ps. 399.0 million, or 4.9%. Total revenues increased by Ps. 407.7 million, or 3.7%.Cost of services increased by Ps. 360.7 million, or 23.2%.Income from operations increased by Ps. 407.6 million, or 8.9%.EBITDA increased by Ps. 462.0 million, or 8.4%, an increase from Ps. 5,503.3 million in 2Q25 to Ps. 5,965.3 million in 2Q26. EBITDA margin (excluding the effects of IFRIC-12) went from 67.1% in 2Q25 to 69.3% in 2Q26. Comprehensive income increased by Ps. 215.4 million, or 9.6%, from an income of Ps. 2,234.9 million in 2Q25 to an income of Ps. 2,450.3 million in 2Q26.
Business Combination:

Effective May 1, 2026, the Company began recognizing the effects of the business combination involving the Cross Border Xpress (“CBX”) operations and the internalization of technical assistance and technology transfer services approved by the Extraordinary General Shareholders’ Meeting held on December 11, 2025, following the execution of the merger agreement on April 30, 2026. As a result of the merger, GAP issued 89,740,731 new net shares and currently has 595,018,195 shares outstanding, consisting of 519,226,576 Series B shares and 75,791,619 Series BB shares. In addition, the equity purchase agreement for the acquisition of the remaining 25% equity interest in CBX was completed, resulting in GAP consolidating 100% ownership of this business. Following the effectiveness of the merger, GAP assumed control of the merged entities to ensure the continuity of service provision, as well as the operation and management of CBX.

The business combination resulted in an increase in cash and cash equivalents of Ps. 5,427.1 million, accounts receivable of Ps. 86.7 million, intangible assets of Ps. 6,899.8 million, goodwill of Ps. 30,803.3 million, and machinery, equipment and improvements to leased buildings of Ps. 2,325.1 million, and the acquisition of OTV land for US$50.0 million (equivalent to Ps. 935.0 million). It also resulted in the recognition of liabilities, primarily comprising bank loans of Ps. 1,305.4 million, unrealized revenue of Ps. 337.7 million, accounts payable of Ps. 234.4 million, and deferred income tax of Ps. 216.9 million.

Based on the Company’s assessment, the merger qualifies as a business combination. Accordingly, the excess of the consideration transferred over the book value of the net assets acquired was recognized as non-current assets in the form of goodwill and identifiable intangible assets.

The Company is currently in the process of determining the fair values arising from the business combination. Accordingly, the amounts presented in the consolidated financial statements included in this report are preliminary and remain subject to change.

Passenger Traffic

During 2Q26, the 14 airports operated by GAP recorded a decrease of 891.6 thousand total passengers, representing a 5.6% decrease compared to 2Q25.

During this period, the following new routes were inaugurated:

Domestic

AirlineDepartureArrivalOpening dateFrequenciesVolarisGuadalajaraQueretaroJune 1, 20264 weeklyVolarisGuadalajaraReynosaJune 1, 20261 dailyVolarisGuadalajaraSan Luis PotosiJune 1, 20263 weeklyVolarisLos CabosPueblaJune 1, 20264 weeklyVolarisGuanajuatoPueblaJune 1, 20264 weeklyVolarisTijuanaMeridaJune 1, 20264 weeklyAerusAguascalientesMonterreyJune 1, 20266 weeklyVolarisGuadalajaraZacatecasJune 2, 20263 weeklyVolarisPuerto VallartaPueblaJune 2, 20263 weeklyVolarisPuerto VallartaAguascalientesJune 2, 20263 weeklyVolarisPuerto VallartaSan Luis PotosiJune 2, 20264 weeklyVolarisTijuanaPuerto EscondidoJune 2, 20263 weeklyVolarisAguascalientesPueblaJune 2, 20263 weeklyVolarisAguascalientesPuerto VallartaJune 2, 20263 weeklyVivaAguascalientesSanta LuciaJune 15, 20261 dailyNote: Frequencies can vary without prior notice.  International         AirlineDepartureArrivalOpening dateFrequenciesVolarisGuadalajaraSalt Lake CityJune 1, 20263 weeklyVolarisGuadalajaraDetroitJune 1, 20263 weeklySouthwestLos CabosLas VegasJune 4, 20261 dailyWingoMontego BayMedellinJune 23, 20263 weeklyNote: Frequencies can vary without prior notice.   Domestic Terminal Passengers – 14 airports (in thousands): 

Airport2Q252Q26Change6M256M26ChangeGuadalajara3,090.93,186.03.1%6,112.16,221.61.8%Tijuana *2,139.21,973.6(7.7%)4,196.73,942.2(6.1%)Los Cabos739.7723.3(2.2%)1,408.61,351.6(4.0%)Puerto Vallarta830.4779.2(6.2%)1,484.01,424.0(4.0%)Montego Bay0.00.00.0%0.00.00.0%Guanajuato576.8533.8(7.4%)1,092.31,044.7(4.4%)Hermosillo545.5497.2(8.9%)1,054.2977.8(7.3%)Kingston0.10.152.4%0.20.8417.5%Morelia173.1171.9(0.7%)359.2364.71.5%Mexicali305.7266.5(12.8%)598.8524.3(12.4%)La Paz328.1357.79.0%608.7671.510.3%Aguascalientes167.4160.8(3.9%)319.2299.7(6.1%)Los Mochis179.4175.5(2.1%)344.4338.8(1.6%)Manzanillo31.428.6(8.7%)66.161.3(7.3%)Total9,107.68,854.3(2.8%)17,644.517,222.8(2.4%)       International Terminal Passengers – 14 airports (in thousands):     Airport2Q252Q26Change6M256M26ChangeGuadalajara1,387.21,498.98.1%2,894.22,991.13.3%Tijuana *1,051.8950.1(9.7%)2,066.71,847.7(10.6%)Los Cabos1,224.41,084.3(11.4%)2,607.32,457.0(5.8%)Puerto Vallarta849.1619.0(27.1%)2,321.61,897.9(18.2%)Montego Bay1,264.7991.9(21.6%)2,603.61,909.3(26.7%)Guanajuato252.7222.1(12.1%)515.7480.0(6.9%)Hermosillo19.221.311.2%40.143.37.9%Kingston453.5435.4(4.0%)881.5850.2(3.6%)Morelia155.9191.823.1%330.1407.423.4%Mexicali1.81.92.1%3.63.72.7%La Paz8.912.743.7%17.625.344.1%Aguascalientes82.585.03.0%156.2162.23.9%Los Mochis2.02.28.1%3.94.02.7%Manzanillo18.316.8(8.2%)62.253.0(14.7%)Total6,771.86,133.4(9.4%)14,504.213,132.1(9.5%) *CBX users are classified as international passengers.        Total Terminal Passengers – 14 airports (in thousands): Airport2Q252Q26Change6M256M26ChangeGuadalajara4,478.14,684.94.6%9,006.39,212.72.3%Tijuana *3,191.02,923.7(8.4%)6,263.35,789.8(7.6%)Los Cabos1,964.01,807.6(8.0%)4,015.93,808.6(5.2%)Puerto Vallarta1,679.51,398.2(16.7%)3,805.63,321.9(12.7%)Montego Bay1,264.7991.9(21.6%)2,603.61,909.3(26.7%)Guanajuato829.4756.0(8.9%)1,608.11,524.6(5.2%)Hermosillo564.7518.5(8.2%)1,094.31,021.1(6.7%)Kingston453.5435.5(4.0%)881.7851.0(3.5%)Morelia329.0363.710.6%689.3772.112.0%Mexicali307.5268.4(12.7%)602.4528.0(12.4%)La Paz337.0370.49.9%626.3696.811.3%Aguascalientes249.8245.8(1.6%)475.3461.9(2.8%)Los Mochis181.4177.7(2.0%)348.3342.8(1.6%)Manzanillo49.745.4(8.5%)128.3114.4(10.9%)Total15,879.414,987.7(5.6%)32,148.730,354.9(5.6%) *CBX users are classified as international passengers. 
        CBX Users (in thousands):      Airport2Q252Q26Change6M256M26ChangeTijuana1,031.4935.9(9.3%)2,029.61,822.2(10.2%) Consolidated Results for the Second Quarter (in thousands of pesos):      2Q252Q26ChangeRevenues   Aeronautical services5,763,188 5,578,099 (3.2%)Non-aeronautical services2,442,659 3,026,714 23.9%Improvements to concession assets (IFRIC-12)2,676,149 2,684,897 0.3%Total revenues10,881,996 11,289,710 3.7%    Operating costs   Costs of services:1,556,035 1,916,778 23.2%Employee costs638,722 769,895 20.5%Maintenance256,830 316,554 23.3%Safety, security & insurance232,516 260,363 12.0%Utilities148,732 149,214 0.3%Professional services58,332 84,772 45.3%Business operated directly by us86,632 99,427 14.8%Other operating expenses134,271 166,061 23.7%CBX operating expenses- 70,492 100.0%    Technical assistance fees221,680 (264,685)(219.4%)Concession taxes935,280 915,543 (2.1%)Depreciation and amortization924,959 979,420 5.9%Cost of improvements to concession assets (IFRIC-12)2,676,149 2,684,897 0.3%Other (income)(10,461)71,837 (786.7%)Total operating costs6,303,642 6,303,790 0.0%Income from operations4,578,354 4,985,920 8.9%Financial Result(733,545)(946,284)29.0%Income before income taxes 3,844,809 4,039,636 5.1%Income taxes(1,189,674)(1,146,127)(3.7%)Net income 2,655,135 2,893,509 9.0%Currency translation effect(423,527)(443,277)4.7% Cash flow hedges, net of income tax2,668 - (100.0%)Remeasurements of employee benefit – net income tax667 69 (89.7%)Comprehensive income 2,234,943 2,450,301 9.6%Non-controlling interest(90,951)(102,859)13.1%Comprehensive income attributable to controlling interest2,143,992 2,347,442 9.5%         2Q252Q26ChangeEBITDA5,503,313 5,965,340 8.4%Comprehensive income2,234,943 2,450,301 9.6%Comprehensive income per share (pesos)4.4232 4.1180 (6.9%)Comprehensive income per ADS (US dollars)2.5349 2.3600 (6.9%)    Operating income margin42.1%44.2%5.0%Operating income margin (excluding IFRIC-12)55.8%57.9%3.9%EBITDA margin50.6%52.8%4.5%EBITDA margin (excluding IFRIC-12)67.1%69.3%3.4%Costs of services and improvements / total revenues38.6%40.8%5.6%Cost of services / total revenues (excluding IFRIC-12)18.6%22.3%20.1%         - Net income and comprehensive income per share for 2Q26 and 2Q25 were calculated based on 595,018,195 shares outstanding as of June 30, 2026, and 505,277,464 as of June 30, 2025, respectively. Figures in U.S. dollar were converted from pesos using an exchange rate of Ps. 17.4490 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2026.

- For consolidating the Jamaican airports, an average exchange rate of Ps. 17.4052 per U.S. dollar was used, corresponding to the three-month period ended June 30, 2026.

Revenues (2Q26 vs. 2Q25)

Aeronautical services revenues decreased by Ps. 185.1 million, or 3.2%.Non-aeronautical services revenues increased by Ps. 584.1 million, or 23.9%.Revenues from improvements to concession assets increased by Ps. 8.7 million, or 0.3%.Total revenues increased by Ps. 407.7 million, or 3.7%. The change in aeronautical services revenues was primarily due to the following factors:

Revenues from the Mexican airports decreased by Ps. 32.2 million, or 0.7%, compared to 2Q25. This decrease was mainly due to a 4.2% decline in passenger traffic and a 10.9% appreciation of the Mexican peso, which directly affected revenues generated from international passenger charges. This effect was partially offset by the gradual implementation of the maximum tariffs approved for the 2025–2029 regulatory period. Revenues from the Jamaican airports decreased by Ps. 152.9 million, or 18.3%, compared to 2Q25, mainly due to a 16.9% decrease in passenger traffic during the quarter, resulting from the impact of Hurricane Melissa. In addition, the 10.9% appreciation of the Mexican peso against the U.S. dollar negatively affected the translation of revenues. The change in non-aeronautical services revenues was primarily driven by the following factors:

Revenues from the Mexican airports increased by Ps. 164.8 million, or 7.7%, compared to 2Q25. Revenues from businesses operated directly by us increased by Ps. 190.1 million, or 17.0%, while revenues from businesses operated by third parties decreased by Ps. 25.3 million, or 2.7%. Revenues from the Jamaican airports decreased by Ps. 48.9 million, or 54.4%, compared to 2Q25, primarily due to the decline in passenger traffic and the peso appreciation in the 2Q26. Total revenues generated by CBX during May and June amounted to Ps. 468.1 million, equivalent to US$26.8 million. During this period, a total of 626,424 passengers used the facility in both directions, generating an average revenue of US$42.8 per passenger. Non-aeronautical revenues for the Second Quarter (in thousands of pesos):

 2Q252Q26ChangeBusinesses operated by third parties:   Food and beverage342,679327,724(4.4%)Car rental211,128213,1721.0%Duty-free208,160170,593(18.0%)Retail191,431184,517(3.6%)Leasing of space112,970106,839(5.4%)Timeshares67,81862,489(7.9%)Ground transportation51,19646,881(8.4%)Other commercial revenues59,01061,3984.0%Communications and financial services28,83827,285(5.4%)Total1,273,2291,200,897(5.7%)    Businesses operated directly by us:   Cargo operation and bonded warehouse514,113627,03922.0%CBX revenues-468,099100.0%Car parking177,872194,0919.1%Convenience stores161,588179,86011.3%VIP Lounges168,321156,011(7.3%)Advertising43,36668,54658.1%Hotel operation36,88246,74526.7%Other businesses operated directly by us-16,931100.0%Total1,102,1411,757,32259.4%Recovery of costs67,28968,4931.8%Total Non-aeronautical Revenues 2,442,6593,026,71223.9% Figures expressed in thousands of Mexican pesos.         ‐                Revenues from improvements to concession assets 1

Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 8.7 million, or 0.3%, compared to 2Q25. The change was composed of:

Improvements to concession assets at the Company’s Mexican airports, decreased by Ps.171.8 million, or 6.6%, in line with the investments committed under the Master Development Program for the 2025–2029 period. Improvements to concession assets at the Company’s Jamaican airports, which increased by Ps. 180.5 million, or 220.4%, primarily due to investments at Kingston Airport. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 “Service Concession Arrangements” (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company’s operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company’s Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using “Total Revenues” include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact.

Total operating costs remained flat compared to 2Q25, mainly due to the decrease in technical assistance fees of Ps. 486.4 million, or 219.4%, and concession fees of Ps. 19.7 million, or 2.1%. These decreases were offset by higher cost of services of Ps. 195.1 million, CBX operating expenses of Ps. 177.4 million, and non-recurring merger-related expenses of Ps. 118.4 million. Excluding the reversal of the technical assistance provision, the consolidation of CBX, and the non-recurring merger-related expenses, operating expenses increased by Ps. 190.7 million, or 3.0%, compared to 2Q25.

The changes in total operating costs were primarily due to the following factors:

Mexican airports: 

Operating costs decreased by Ps. 260.4 million, or 4.8%, compared to 2Q25, mainly due to the reversal of the technical assistance fee provision of Ps. 486.4 million and a decrease in the cost of improvements to the concession assets (IFRIC-12) of Ps. 171.8 million. This effect was partially offset by an increase in cost of services of Ps. 242.0 million, non-recurring merger-related expenses of Ps. 118.4 million, and depreciation and amortization of Ps. 37.2 million. The change in the cost of services at our Mexican airports during 2Q26 was mainly due to:

Employee costs increased by Ps. 128.5 million, or 22.5%, mainly due to an increase in personnel providing technical assistance services, operational personnel at the airports, salary adjustments, and higher employee benefits resulting from amendments to the Federal Labor Law.Maintenance increased by Ps. 38.1 million, or 17.4%, mainly due to the opening of new operational areas, and airfield maintenance. Other operating expenses increased by Ps. 31.8 million, or 23.7%, mainly due to the recognition of the expected credit loss provision. Safety, security, and insurance increased by Ps. 27.3 million, or 16.1%, mainly due to an increase in security personnel headcount, significant increases in the minimum wage, and higher insurance costs related to goods safeguarded within the bonded warehouse. Jamaican Airports:

Operating expenses increased by Ps. 83.7 million, or 9.4%, compared to 2Q25, mainly due to an increase of Ps. 180.5 million, or 220.4%, in cost of improvements to concession assets (IFRIC-12). This effect was partially offset by a reduction in concession fees of Ps. 88.4 million, or 20.8%, resulting from lower revenues at Montego Bay airport, as well as decreases in depreciation and amortization of Ps. 7.5 million, or 5.1%, and cost of services of Ps. 2.3 million, or 1.0%. Cross Border Xpress:

Beginning May 1, CBX operating expenses of Ps. 177.4 million were consolidated, consisting of cost of services of Ps. 152.3 million, and depreciation and amortization of Ps. 25.1 million, corresponding to two months of operations. Operating income margin increased from 42.1% in 2Q25 to 44.2% in 2Q26. Excluding the effects of IFRIC-12, the operating income margin increased from 55.8% in 2Q25 to 57.9% in 2Q26. Income from operations increased by Ps. 407.6 million, or 8.9%, compared to 2Q25, with CBX contributing Ps. 291.1 million.

EBITDA margin increased from 50.6% in 2Q25 to 52.8% in 2Q26. Excluding the effects of IFRIC-12, EBITDA margin increased from 67.1% in 2Q25 to 69.3% in 2Q26. EBITDA increased by Ps. 462.0 million, or 8.4%, compared to 2Q25. EBITDA margin growth was partially offset by the impact on the Jamaican airports from the appreciation of the Mexican peso and lower passenger traffic. CBX contributed Ps. 315.8 million, with an EBITDA margin of 67.5%.

Financial results increased expenses by Ps. 212.7 million, or 29.0%, going from a net expense of Ps. 733.5 million in 2Q25 to a net expense of Ps. 946.3 million in 2Q26. This change was mainly the result of:

Foreign exchange losses decreased from Ps. 40.3 million in 2Q25 to Ps. 17.3 million in 2Q26, resulting in a favorable variance of Ps. 23.0 million due to the appreciation of the Mexican peso. Additionally, the foreign currency translation effect resulted in a net loss of Ps. 19.8 million. Interest expense increased by Ps. 343.8 million, or 37.6%, compared to 2Q25, mainly due to higher debt incurred to finance airport CAPEX and the acquisition of the remaining 25% interest in CBX, as well as Ps. 13.9 million in financing costs related to the bank loan contracted by CBX and assumed through the business combination. Interest income increased by Ps. 108.1 million, or 53.8%, compared to 2Q25, mainly due to the increase in cash and cash equivalents. In 2Q26, net and comprehensive income increased by Ps. 215.4 million, or 9.6%, compared to 2Q25, mainly driven by income before taxes, which increased by Ps. 194.8 million or 5.1%.

Net income increased by Ps. 238.4 million, or 9.0%, compared to 2Q25. Income tax for the period decreased by Ps. 43.5 million, or 3.7%, comprised of a decrease in current income tax of Ps. 137.7 million and a decrease in the deferred tax benefit of Ps. 94.2 million.

Consolidated Results for the Second Quarter (thousands)
 6M256M26ChangeRevenues   Aeronautical services11,762,321 11,812,569 0.4%Non-aeronautical services4,836,535 5,566,191 15.1%Improvements to concession assets (IFRIC-12)5,338,324 5,280,576 (1.1%)Total revenues21,937,180 22,659,337 3.3%    Operating costs   Costs of services:3,020,338 3,468,349 14.8%Employee costs1,252,084 1,454,119 16.1%Maintenance513,733 577,317 12.4%Safety, security & insurance447,723 493,768 10.3%Utilities273,963 274,227 0.1%Professional services106,063 141,887 33.8%Business operated directly by us173,968 188,956 8.6%Other operating expenses252,803 267,584 5.8%CBX operating expenses- 70,492 100.0%    Technical assistance fees505,580 34,857 (93.1%)Concession taxes1,976,982 1,862,621 (5.8%)Depreciation and amortization1,857,534 1,912,376 3.0%Cost of improvements to concession assets (IFRIC-12)5,338,324 5,280,576 (1.1%)Other (income)(36,145)58,765 (262.6%)Total operating costs12,662,613 12,617,545 (0.4%)Income from operations9,274,567 10,041,792 8.3%Financial Result(1,663,035)(1,669,542)0.4%Income before income taxes 7,611,532 8,372,250 10.0%Income taxes(2,098,280)(2,166,733)3.3%Net income 5,513,252 6,205,518 12.6%Currency translation effect(498,585)(408,156)(18.1%) Cash flow hedges, net of income tax1,892 - (100.0%)Remeasurements of employee benefit – net income tax32,766 18,711 (42.9%)Comprehensive income 5,049,325 5,816,073 15.2%Non-controlling interest(205,878)(241,374)17.2%Comprehensive income attributable to controlling interest4,843,447 5,574,699 15.1%         2Q252Q26ChangeEBITDA11,132,101 11,954,169 7.4%Comprehensive income5,049,325 5,816,073 15.2%Comprehensive income per share (pesos)9.9932 9.7746 (2.2%)Comprehensive income per ADS (US dollars)5.7271 6.5967 15.2%    Operating income margin42.3%44.3%4.8%Operating income margin (excluding IFRIC-12)55.9%57.8%3.4%EBITDA margin50.7%52.8%4.0%EBITDA margin (excluding IFRIC-12)67.1%68.8%2.6%Costs of services and improvements / total revenues38.0%38.6%1.5%Cost of services / total revenues (excluding IFRIC-12)18.1%20.0%10.2%        - Net income and comprehensive income per share for 6M26 and 6M25 were calculated based on 595,018,195 and 505,277,464 shares outstanding, respectively. U.S. dollar figures were converted from pesos using an exchange rate of Ps. 17.4490 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2026.- For the purpose of consolidating Jamaican airports, an average exchange rate of Ps. 17.4815 per U.S. dollar was used, corresponding to the six months ended June 30, 2026.

  Revenues (6M26 vs. 6M25)

Aeronautical services revenues increased by Ps. 50.2 million, or 0.4%.Non-aeronautical services revenues increased by Ps. 729.7 million, or 15.1%.Revenues from improvements to concession assets decreased by Ps. 57.7 million, or 1.1%.Total revenues increased by Ps. 722.2 million, or 3.3%. The change in aeronautical services revenues comprised primarily of the following factors:

Revenues from the Mexican airports increased by Ps. 440.2 million, or 4.4%, compared to 6M25, primarily due to the gradual implementation of the maximum tariffs approved for the 2025–2029 regulatory period. This effect was partially offset by the 12.5% appreciation of the Mexican peso against the U.S. dollar and a 3.7% decline in passenger traffic. Revenues from the Jamaican airports decreased by Ps. 390.0 million, or 22.4%, compared to 6M25, mainly due to a 20.8% decline in passenger traffic, as well as the 12.5% appreciation of the Mexican peso against the U.S. dollar, with the average exchange rate changing from Ps. 19.9844 in 6M25 to Ps. 17.4815 in 6M26. The change in non-aeronautical services revenues comprised primarily of the following factors:

Revenues from the Mexican airports increased by Ps. 387.4 million, or 9.2%, compared to 6M25, primarily driven by a Ps. 389.9 million, or 18.7%, increase in revenues from businesses operated directly by us. Revenues from the Jamaican airports decreased by Ps. 125.8 million, or 20.8%, compared to 6M25, mainly due to lower passenger traffic. Total revenues generated by CBX during May and June amounted to Ps. 468.1 million, equivalent to US$26.8 million. During this period, a total of 626,424 passengers used the facility in both directions, generating average revenue of US$42.8 per passenger.     Non-aeronautical revenues for the Six Months (in thousands of pesos):     6M256M26ChangeBusinesses operated by third parties:   Food and beverage685,259679,018(0.9%)Car rental416,425425,7452.2%Duty-free424,845353,126(16.9%)Retail382,605367,867(3.9%)Leasing of space229,859211,125(8.2%)Timeshares138,723125,095(9.8%)Other commercial revenues131,035136,0763.8%Ground transportation107,769100,069(7.1%)Communications and financial services60,24257,368(4.8%)Total2,576,7612,455,488(4.7%)    Businesses operated directly by us:   Cargo operation and bonded warehouse948,3811,174,59023.9%CBX revenues-468,099100.0%Car parking356,342385,9958.3%Convenience stores331,088370,52111.9%VIP Lounges336,336318,312(5.4%)Hotel operation74,32394,06426.6%Advertising78,206108,24138.4%Other businesses operated directly by us-56,263100.0%Total2,124,6772,976,08540.1%Recovery of costs135,097134,618(0.4%)Total Non-aeronautical Revenues 4,836,5355,566,19115.1% Figures expressed in thousands of Mexican pesos.
     ‐                Revenues from improvements to concession assets 1

Revenues from improvements to concession assets (IFRIC-12) decreased by Ps. 57.7 million, or 1.1%, compared to 6M25. The change was composed of:

Improvements to concession assets at the Company’s Mexican airports, which decreased by Ps. 343.5 million, or 6.6%, following investments under the Master Development Program for the 2025-2029 period. Improvements to concession assets at the Company’s Jamaican airports, which increased Ps. 285.7 million, or 190.7%. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 “Service Concession Arrangements” (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company’s operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company’s Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using “Total Revenues” include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact.

Total operating cost decreased by Ps. 45.1 million, or 0.4%, compared to 6M25, primarily due to a decrease of Ps. 470.7 million in technical assistance fee, resulting from the reversal of the provision following the business combination, with only the fixed fee paid to the strategic partner from January through April 2026 being recognized. In addition, concession fees decreased by Ps. 114.4 million, or 5.8%. These decreases were partially offset by increases in the cost of services of Ps. 174.4 million, CBX operating expenses of Ps. 177.4 million, non-recurring merger-related expenses of Ps. 118.4 million, and depreciation and amortization of Ps. 54.8 million. Excluding the decrease in concession fees, the reversal of the technical assistance fee provision, the consolidation of CBX, and the non-recurring merger-related expenses, operating expenses increased by Ps. 129.8 million, or 1.0%, compared to 6M25.

Mexican airports: 

Operating costs decreased by Ps. 210.1 million, or 1.9%, compared to 6M25, primarily due to the reversal of the technical assistance fee provision of Ps. 470.7 million, or 93.1%, as well as a decrease of Ps. 343.5 million, or 6.6%, in the cost of improvements to the concession assets (IFRIC-12). These effects were partially offset by increases in cost of services of Ps. 379.9 million, non-recurring expenses of Ps. 118.4 million, concession fees of Ps. 54.4 million, and depreciation and amortization of Ps. 51.4 million. The change in the cost of services at our Mexican airports during 6M26 was mainly due to:

Employee costs increased by Ps. 203.1 million, or 18.2%, primarily due to salary adjustments, the addition of operational personnel, the incorporation of personnel to provide technical assistance services, and higher employee benefits resulting from changes to the Federal Labor Law.Safety, security and insurance increased by Ps. 56.1 million, or 17.6%, mainly due to an expansion of the security workforce, significant increases in the minimum wage, and higher insurance costs related to goods safeguarded within the bonded warehouse as a result of increased revenues.Maintenance increased by Ps. 55.7 million, or 13.2%, mainly due to the opening of new operational areas and terminal facilities, as well as airfield maintenance activities. Jamaican Airports:

Operating costs decreased by Ps. 11.8 million, or 0.6%, compared to 6M25, mainly due to a Ps. 243.4 million, or 27.5%, decrease in concession fees, a decrease of Ps. 34.3 million, or 7.0%, in cost of services, and a Ps. 21.2 million, or 7.1% decrease in depreciation and amortization. These effects were partially offset by an increase of Ps. 285.7 million, or 190.7%, in the cost of improvements to concession assets (IFRIC-12). Cross Border Xpress:

Beginning May 1, CBX operating expenses of Ps. 177.4 million were consolidated, consisting of cost of services of Ps. 152.3 million and depreciation and amortization of Ps. 25.1 million, corresponding to two months of operations. Operating income margin increased from 42.3% in 6M25 to 44.3% in 6M26. Excluding the effects of IFRIC-12, the operating income margin went from 55.9% in 6M25 to 57.8% in 6M26. Income from operations increased by Ps. 767.2 million, or 8.3%, compared to 6M25, with CBX contributing Ps. 291.1 million.

EBITDA margin went from 50.7% in 6M25 to 52.8% in 6M26. Excluding the effects of IFRIC-12, EBITDA margin went from 67.1% in 6M25 to 68.8% in 6M26. EBITDA increased by Ps. 822.1 million, or 7.4%, compared to 6M25. CBX contributed Ps. 315.8 million, with an EBITDA margin of 69.9%.

Financial results increased in expenses by Ps. 6.5 million, or 0.4%, from a net expense of Ps. 1,663.0 million in 6M25 to Ps. 1,669.5 million in 6M26. This change was mainly the result of:

Foreign exchange fluctuations, which went from a loss of Ps. 164.3 million in 6M25 to a gain of Ps. 156.1 million in 6M26, resulting in a foreign exchange gain of Ps. 320.4 million due to the appreciation of the Mexican peso. Additionally, the foreign currency translation effect generated a gain of Ps. 90.4 million compared to 6M25. Interest expense increased by Ps. 279.2 million, or 13.6%, compared to 6M25, mainly due to the increase in bond certificates and higher borrowings of bank loans. Interest income decreased by Ps. 34.7 million, or 7.0%, compared to 6M25, mainly due to a decrease in the cash and cash equivalents average balance and changes in the reference rates in both Mexican pesos and U.S. dollars. In 6M26, net and comprehensive income increased by Ps. 766.7 million, or 15.2%, compared to 6M25. Income before taxes increased by Ps. 760.7 million, mainly due to the increase in EBITDA, as mentioned above.

During 6M26, net income increased by Ps. 692.3 million, or 12.6%, compared to 6M25, mainly due to the increase in EBITDA, partially offset by higher depreciation and amortization expenses. In addition, income tax expense for the period increased by Ps. 68.5 million, as a result of a Ps. 767.2 million increase in operating income.

Statement of Financial Position

As of June 30, 2026, total assets increased by Ps. 62,184.3 million compared to the same period in 2025, primarily due to: (i) goodwill and intangible assets of Ps. 37,703.1 million resulting from the business combination following the merger; (ii) an increase in cash and cash equivalents of Ps. 10,076.4 million; and (iii) a Ps. 13,721.8 million increase in improvements to concession assets, construction in progress, advances to suppliers, and property, plant and equipment.

Total liabilities increased by Ps. 27,952. 3 million compared to the same period of 2025. This increase was mainly attributable to: (i) an increase in bond certificates of Ps. 18,098.0 million; (ii) a net increase in bank loans of Ps. 419.0 million, resulting from new loans; and (iii) an increase in accounts payable of Ps. 1,804.6 million.

Recent events

On May 8, 2026, the Company announced the commencement of the process to establish an Irrevocable Trust for the Issuance of Energy and Infrastructure Investment Trust Certificates (Certificados Bursátiles Fiduciarios de Inversión en Energía e Infraestructura, “CBFEs”), with the objective of subscribing a minority equity interest in the 12 Mexican airport concessionaires operated by GAP. As of the date hereof, the Company continues to work through the approval process with the relevant authorities for the issuance of the CBFEs.

2026 Growth Guidance revised

Considering the business combination effective in May, passenger traffic trends, and the progress of the Company’s investment projects:

   2026 vs 2025Passenger traffic-3% - 0%Aeronautical revenues1% - 4%Non-aeronautical revenues21% - 24%Total revenues7% - 10%EBITDA10% - 12%EBITDA margin67% +- 1%CAPEXPs. 12.0 billion   Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019. In May 2026, GAP completed a business combination pursuant to which it acquired full ownership of the Cross Border Xpress (“CBX”), a cross-border terminal located in San Diego, California and connected to the Tijuana International Airport.

This press release contains references to EBITDA, a financial performance measure not recognized under IFRS and which does not purport to be an alternative to IFRS measures of operating performance or liquidity. We caution investors not to place undue reliance on non-GAAP financial measures such as EBITDA, as these have limitations as analytical tools and should be considered as a supplement to, not a substitute for, the corresponding measures calculated in accordance with IFRS. This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Beginning this quarter, the Company’s main airports and new business lines will be reported separately, given their significance and the importance of providing this information to the market on a standalone basis.

Exhibit A: Operating results by airport (in thousands of pesos):

       Airport2Q252Q26Change6M256M26ChangeGuadalajara      Aeronautical services1,562,4301,692,0568.3%3,151,5173,464,0449.9%Non-aeronautical services348,795391,71912.3%709,331780,44310.0%Improvements to concession assets (IFRIC 12)1,174,4261,118,313(4.8%)2,348,8522,236,626(4.8%)Total Revenues3,085,6513,202,0883.8%6,209,7006,481,1144.4%Operating income1,242,7341,269,2412.1%2,424,9652,636,8298.7%EBITDA1,450,4161,526,8525.3%2,844,5193,107,5919.2%       Tijuana      Aeronautical services855,119857,7030.3%1,587,9331,682,6346.0%Non-aeronautical services125,930124,479(1.2%)250,651258,1713.0%Improvements to concession assets (IFRIC 12)386,094453,86617.6%772,188907,73217.6%Total Revenues1,367,1441,436,0485.0%2,610,7722,848,5379.1%Operating income565,985530,496(6.3%)972,3881,015,8764.5%EBITDA691,459660,671(4.5%)1,224,3971,273,9334.0%       Los Cabos      Aeronautical services903,938847,415(6.3%)1,850,5701,884,0071.8%Non-aeronautical services349,334332,937(4.7%)712,000678,781(4.7%)Improvements to concession assets (IFRIC 12)205,863212,8633.4%411,726425,7253.4%Total Revenues1,459,1351,393,214(4.5%)2,974,2962,988,5130.5%Operating income806,799706,727(12.4%)1,645,6131,591,598(3.3%)EBITDA911,098815,556(10.5%)1,846,9501,805,594(2.2%)       Puerto Vallarta      Aeronautical services720,778599,816(16.8%)1,708,9501,597,744(6.5%)Non-aeronautical services183,464142,708(22.2%)371,047332,047(10.5%)Improvements to concession assets (IFRIC 12)503,536410,908(18.4%)1,007,073821,816(18.4%)Total Revenues1,407,7781,153,432(18.1%)3,087,0702,751,607(10.9%)Operating income584,274415,373(28.9%)1,365,4321,210,213(11.4%)EBITDA647,844478,657(26.1%)1,494,2211,335,690(10.6%)       Cargo and bonded warehouse business      Non-aeronautical services514,113627,03922.0%948,3811,174,59023.9%Total Revenues514,113627,03922.0%948,3811,174,59023.9%Operating income330,315425,01428.7%596,765783,36531.3%EBITDA341,332435,91927.7%618,983805,22630.1%       Montego Bay      Aeronautical services518,434370,081(28.6%)1,103,799717,948(35.0%)Non-aeronautical services231,963189,397(18.4%)476,550367,738(22.8%)Improvements to concession assets (IFRIC 12)64,36850,688(21.3%)113,35499,052(12.6%)Total Revenues814,765610,166(25.1%)1,693,7031,184,737(30.1%)Operating income305,501195,612(36.0%)648,016408,519(37.0%)EBITDA391,479278,863(28.8%)823,813574,446(30.3%)       Exhibit A: Operating results by airport (in thousands of pesos):       Airport2Q252Q26Change6M256M26ChangeGuanajuato      Aeronautical services280,231262,919(6.2%)548,630557,1511.6%Non-aeronautical services46,90349,7266.0%97,54095,535(2.1%)Improvements to concession assets (IFRIC 12)130,22273,383(43.6%)260,444146,767(43.6%)Total Revenues457,356386,028(15.6%)906,614799,452(11.8%)Operating income208,424177,439(14.9%)407,575387,644(4.9%)EBITDA233,880208,796(10.7%)458,950450,082(1.9%)       Hermosillo      Aeronautical services161,897160,690(0.7%)305,246313,8412.8%Non-aeronautical services30,19127,597(8.6%)56,76254,578(3.8%)Improvements to concession assets (IFRIC 12)17,2245,657(67.2%)34,44811,315(67.2%)Total Revenues209,312193,944(7.3%)396,456379,734(4.2%)Operating income97,86790,996(7.0%)176,221175,976(0.1%)EBITDA123,579117,243(5.1%)228,262227,822(0.2%)       Cross Border Xpress (1)      Non-aeronautical services-468,099100.0%-468,099100.0%Total Revenues-468,099100.0%-468,099100.0%Operating income-291,095100.0%-291,095100.0%EBITDA-315,788100.0%-315,788100.0%       Others (2)      Aeronautical services760,361787,4193.6%1,505,6761,595,2005.9%Non-aeronautical services611,966673,01410.0%1,214,2721,356,21011.7%Improvements to concession assets (IFRIC 12)194,416359,21884.8%390,239631,54361.8%Total Revenues1,566,7431,819,65116.1%3,110,1883,582,95315.2%Operating income481,021883,92783.8%1,037,5921,540,67748.5%EBITDA689,0971,126,99463.5%1,592,0062,057,99629.3%       Total       Aeronautical services5,763,1885,578,099(3.2%)11,762,32111,812,5690.4%Non-aeronautical services2,442,6593,026,71423.9%4,836,5355,566,19115.1%Improvements to concession assets (IFRIC 12)2,676,1492,684,8970.3%5,338,3245,280,576(1.1%)Total Revenues10,881,99611,289,7103.7%21,937,18022,659,3373.3%Operating income4,578,3544,985,9198.9%9,274,56710,041,7928.3%EBITDA5,503,3135,965,3408.4%11,132,10111,954,1697.4%        1. Cross Border Xpress figures correspond to operations for May and June 2026. 2. Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia, and Kingston airports.

  Exhibit B: Consolidated statement of financial position as of June 30 (in thousands of pesos): 

      2025 2026 Change %Assets    Current assets    Cash and cash equivalents9,697,343 19,773,709 10,076,366 103.9%Trade accounts receivable - Net3,154,471 3,373,681 219,210 6.9%Other current assets1,152,861 1,918,220 765,359 66.4%Total current assets14,004,675 25,065,610 11,060,935 79.0%     Advanced payments to suppliers869,569 3,117,554 2,247,985 258.5%Machinery, equipment and improvements to leased buildings - Net4,623,910 6,821,182 2,197,272 47.5%Improvements to concession assets - Net25,471,976 30,989,546 5,517,570 21.7%Construction in-progress11,760,860 14,484,845 2,723,985 23.2%Land- 1,035,000 1,035,000 100.0%Airport concessions - Net9,140,466 8,414,313 (726,153)(7.9%)Rights to use airport facilities - Net967,163 916,169 (50,994)(5.3%)Other acquired rights1,937,118 1,684,731 (252,387)(13.0%)Goodwill/intangible assets- 37,703,107 37,703,107 100.0%Deferred income taxes - Net8,480,777 9,068,608 587,831 6.9%Other non-current assets931,544 1,071,645 140,100 15.0%Total assets78,188,058 140,372,310 62,184,252 79.5%     Liabilities     Current liabilities    Bank loans and interest payable7,473,502 12,935,662 5,462,160 73.1%Concession fees565,678 512,318 (53,360)(9.4%)Accounts payable996,350 2,800,943 1,804,593 181.1%Unrealized revenue- 373,469 373,469 100.0%Other current liabilities1,454,754 915,576 (539,178)(37.1%)Dividends payable4,253,565 12,376,378 8,122,814 191.0%Total current liabilities14,743,849 29,914,347 15,170,498 102.9%     Non-current Liabilities    Security deposits received1,130,129 1,263,914 133,785 11.8%Bank loans4,611,474 6,372,418 1,760,943 38.2%Other long-term liabilities1,886,599 1,198,109 (688,489)(36.5%)Long-term local bonds payable34,783,722 46,359,266 11,575,544 33.3%Total liabilities57,155,773 85,108,054 27,952,281 48.9%     Stockholders' Equity    Common stock1,194,390 1,406,522 212,132 17.8%Legal reserve238,878 238,878 - 0.0%Retained earnings14,397,380 13,278,816 (1,118,564)(7.8%)Reserve for share repurchase2,500,000 2,500,000 - 0.0%Foreign currency translation reserve312,241 (570,019)(882,260)(282.6%)Remeasurements of employee benefit – Net41,049 36,594 (4,455)(10.9%)Cash flow hedges- Net(2,692)- 2,692 (100.0%)Premium on share suscription- 35,766,611 35,766,611 100.0%Total controlling interest18,681,246 52,657,402 33,976,156 181.9%Non-controlling interest2,351,039 2,606,854 255,815 10.9%Total stockholder's equity21,032,285 55,264,256 34,231,971 162.8%     Total liabilities and stockholders' equity78,188,058 140,372,310 62,184,252 79.5%      Non-controlling interest represents the minority shareholders’ ownership interests in certain of our subsidiaries.  Exhibit C: Consolidated statement of cash flows (in thousands of pesos): 

GRUPO AEROPORTUARIO DEL PACIFICO             Consolidated statement of cash flows        2Q252Q26Change6M256M26ChangeCash flows from operating activities:      Consolidated net income2,655,135 2,893,509 9.0%5,513,253 6,205,518 12.6%       Postemployment benefit costs15,459 20,766 34.3%29,621 41,274 39.3%Allowance expected credit loss(13,123)39,795 (403.2%)12,269 61,197 398.8%Depreciation and amortization924,959 979,420 5.9%1,857,534 1,912,376 3.0%Loss (gain) on sale of machinery, equipment and improvements to leased assets(630)(4,713)648.1%1,360 (6,382)(569.4%)Interest expense1,034,255 1,356,033 31.1%2,281,509 2,376,772 4.2%Provisions9,022 1,792 (80.1%)(21,667)36,099 (266.6%)Income tax expense1,189,674 1,146,127 (3.7%)2,098,280 2,166,733 3.3%Unrealized exchange loss(54,076)(6,772)(87.5%)56,804 (129,318)(327.7%) 5,760,675 6,425,957 11.5%11,828,961 12,664,269 7.1%Changes in working capital:      (Increase) decrease in      Trade accounts receivable162,331 87,833 (45.9%)(493,714)157,063 (131.8%)Recoverable tax on assets and other assets25,725 (95,078)(469.6%)107,364 (32,063)(129.9%)Increase (decrease)      Concession taxes payable(248,380)(335,846)35.2%(215,106)(111,606)(48.1%)Accounts payable(117,942)(1,906,239)1516.3%(46,488)204,655 (540.2%)Cash generated by operating activities5,582,409 4,176,627 (25.2%)11,181,017 12,882,318 15.2%Income taxes paid(1,202,747)(1,539,627)28.0%(2,324,790)(2,673,476)15.0%Net cash flows provided by operating activities4,379,662 2,637,000 (39.8%)8,856,227 10,208,841 15.3%       Cash flows from investing activities:      Machinery, equipment and improvements to concession assets(678,121)(3,204,006)372.5%(2,384,763)(4,961,618)108.1%Cash flows from sales of machinery and equipment1,656 1,055 (36.3%)1,774 2,614 47.4%Other investment activities(1,746,391)15,773 (100.9%)(1,732,569)(97,377)(94.4%)Acquisition of a 25% interest in CBX- (8,445,060)100.0%- (8,445,060)100.0%Net cash used by investment activities(2,422,856)(11,632,238)380.1%(4,115,559)(13,501,441)228.1%       Dividends declared and paid(4,254,436)(203,882)(95.2%)(4,254,436)(203,882)(95.2%)Dividends paid to non-controlling interests(152,881)- (100.0%)(152,881)- (100.0%)Cash and cash equivalentes from business combination 5,428,000   5,428,000 100.0%Bond certificates issued- - 0.0%6,000,000 10,718,000 78.6%Bond certificates paid(2,500,000)- (100.0%)(7,000,000)(1,120,000)(84.0%)Bank loans paid(3,454,938)- (100.0%)(3,454,938)(4,498,971)30.2%Bank loans3,249,098 1,120,000 (65.5%)3,249,098 4,498,971 38.5%Capitalized interest on bank loans- (39,417)100.0%- (39,417)100.0%Interest paid on bank loans(941,099)(873,123)(7.2%)(2,306,485)(2,234,826)(3.1%)Interest paid on lease(592)(2,662)349.7%(1,282)(5,440)324.4%Payments of obligations for leasing(2,566)(10,474)308.2%(18,899)(21,031)11.3%Net cash flows used in financing activities(8,057,414)5,418,442 (167.2%)(7,939,822)12,521,404 (257.7%)       Effects of exchange rate changes on cash held(429,868)165,369 (138.5%)(569,530)91,707 (116.1%)Net increase (decrease) in cash and cash equivalents(6,530,476)(3,411,427)(47.8%)(3,768,684)9,320,511 (347.3%)Cash and cash equivalents at beginning of the period16,227,819 23,185,136 42.9%13,466,026 10,453,198 (22.4%)Cash and cash equivalents at the end of the period9,697,343 19,773,709 103.9%9,697,343 19,773,709 103.9%               Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos): 

        2Q252Q26Change6M256M26ChangeRevenues      Aeronautical services5,763,188 5,578,099 (3.2%)11,762,321 11,812,569 0.4%Non-aeronautical services2,442,659 3,026,714 23.9%4,836,535 5,566,191 15.1%Improvements to concession assets (IFRIC-12)2,676,149 2,684,897 0.3%5,338,324 5,280,576 (1.1%)Total revenues10,881,996 11,289,710 3.7%21,937,180 22,659,337 3.3%       Operating costs      Costs of services:1,556,035 1,916,778 23.2%3,020,338 3,468,349 14.8%Employee costs638,722 769,895 20.5%1,252,084 1,454,119 16.1%Maintenance256,830 316,554 23.3%513,733 577,317 12.4%Safety, security & insurance232,516 260,363 12.0%447,723 493,768 10.3%Utilities148,732 149,214 0.3%273,963 274,227 0.1%Professional services58,332 84,772 45.3%106,063 141,887 33.8%Business operated directly by us86,632 99,427 14.8%173,968 188,956 8.6%Other operating expenses134,271 166,061 23.7%252,803 267,584 5.8%CBX operating expenses- 70,492 100.0%- 70,492 100.0%       Technical assistance fees221,680 (264,685)(219.4%)505,580 34,857 (93.1%)Concession taxes935,280 915,543 (2.1%)1,976,982 1,862,621 (5.8%)Depreciation and amortization924,959 979,420 5.9%1,857,534 1,912,376 3.0%Cost of improvements to concession assets (IFRIC-12)2,676,149 2,684,897 0.3%5,338,324 5,280,576 (1.1%)Other (income)(10,461)71,837 (786.7%)(36,145)58,765 (262.6%)Total operating costs6,303,642 6,303,790 0.0%12,662,613 12,617,545 (0.4%)Income from operations4,578,354 4,985,920 8.9%9,274,567 10,041,792 8.3%Financial Result(733,545)(946,284)29.0%(1,663,035)(1,669,542)0.4%Income before income taxes 3,844,809 4,039,636 5.1%7,611,532 8,372,250 10.0%Income taxes(1,189,674)(1,146,127)(3.7%)(2,098,280)(2,166,733)3.3%Net income 2,655,135 2,893,509 9.0%5,513,252 6,205,518 12.6%Currency translation effect(423,527)(443,277)4.7%(498,585)(408,156)(18.1%) Cash flow hedges, net of income tax2,668 - (100.0%)1,892 - (100.0%)Remeasurements of employee benefit – net income tax667 69 (89.7%)32,766 18,711 (42.9%)Comprehensive income 2,234,943 2,450,301 9.6%5,049,325 5,816,073 15.2%Non-controlling interest(90,951)(102,859)13.1%(205,878)(241,374)17.2%Comprehensive income attributable to controlling interest2,143,992 2,347,442 9.5%4,843,447 5,574,699 15.1%       Non-controlling interest represents the minority shareholders’ ownership interests in certain of our subsidiaries.               Exhibit E: Consolidated stockholders’ equity (in thousands of pesos): 

           Common StockLegal ReseveReserve for Share RepurchasePremium on share suscriptionRetained EarningsOther comprehensive incomeTotal controlling interestNon-controlling interestTotal Stockholders' EquityBalance as of January 1, 20251,194,390920,187 2,500,000-16,957,723 773,499 22,345,799 2,275,940 24,621,739 Decrease in legal reserve-(681,309)- 681,309 - - - - Dividends declared-- - (8,508,000)- (8,508,000)(130,779)(8,638,779)Comprehensive income:         Net income-- --5,266,354 - 5,266,354 246,904 5,513,258 Foreign currency translation reserve-- --- (457,563)(457,563)(41,026)(498,589)Remeasurements of employee benefit – Net-- --- 32,766 32,766 - 32,766 Reserve for cash flow hedges – Net of income tax-- --- 1,892 1,892 - 1,892 Balance as of June 30, 20251,194,390238,878 2,500,000-14,397,387 350,594 18,681,245 2,351,039 21,032,285           Balance as of January 1, 20261,194,390238,878 2,500,000-18,695,331 (158,148)22,470,451 2,365,480 24,835,931 Capital increase212,132     212,132  212,132 Dividends declared-- - (12,376,379)- (12,376,379) (12,376,379)Increase from share suscription-- -35,766,611- - 35,766,611 - 35,766,611 Comprehensive income:         Net income-- --5,949,977 - 5,949,977 255,541 6,205,518 Retained earnings business combination   -1,009,888  1,009,888  1,009,888 Foreign currency translation reserve-- --- (393,989)(393,989)(14,167)(408,156)Remeasurements of employee benefit – Net-- --- 18,711 18,711 - 18,711 Balance as of June 30, 20261,406,522238,878 2,500,00035,766,61113,278,817 (533,426)52,657,402 2,606,854 55,264,256                   Exhibit F: Other operating data:               2Q252Q26Change6M256M26ChangeTotal passengers15,879.414,987.7(5.6%)32,149.030,354.9(5.6%)Total cargo volume (in WLUs)686.6743.58.3%1,337.31,447.48.2%Total WLUs16,566.015,731.2(5.0%)33,486.331,802.3(5.0%)       Aeronautical & non aeronautical services per passenger (pesos)516.8574.111.1%516.3572.510.9%Aeronautical services per WLU (pesos)347.9354.61.9%351.3371.45.7%Non aeronautical services per passenger (pesos)153.8201.931.3%150.4183.421.9%Cost of services per WLU (pesos)91.9121.832.6%89.8109.121.4%        WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).

Uniswap [UNI] has opened community voting on a proposal that could introduce the protocol’s first sustained UNI burn mechanism. The initiative spans three governance votes.

They include protocol fee activation on Robinhood Chain, v4 deployment, and bridge infrastructure across all other chains.

If Uniswap members approve the proposals, the protocol will begin depositing fees into TokenJar accounts. At press time, the voting stood at 74% in support of the proposal.

Once there, users can acquire an amount of UNI sufficient to burn it completely and in turn collect their UNI from the TokenJar account.

Source: X The proposal will link the supply of UNI with the actual use of the protocol rather than just providing incentives through governance.

Protocol revenue strengthens UNI value capture That potential shift becomes more meaningful when viewed alongside Uniswap’s growing protocol revenue. Every increase in trading activity would generate additional fees, creating more opportunities to remove UNI from circulation through the proposed burn mechanism.

Currently, according to DefiLlama data, Uniswap generates approximately $5 million per day in fees. Moreover, its annual protocol revenue stands near $50 million.

As v4 deployments and Robinhood Chain attract more trading volume, fee generation could continue expanding.

Despite that, the projected burn rate remains modest relative to UNI’s total supply. Still, the mechanism introduces a lasting connection between protocol usage and token scarcity.

If network activity continues growing, UNI’s long-term value could increasingly reflect organic protocol demand rather than governance incentives alone.

Robinhood Chain tests Uniswap’s growth strategy Whether the burn mechanism delivers meaningful results now depends on user adoption rather than governance alone. Robinhood Chain has quickly become an early test of that thesis after surpassing $1 billion in cumulative swap volume within days of launch.

That momentum suggests Uniswap’s ecosystem is reaching users beyond its traditional base. Rising wallet interactions and swap activity further indicate participation extends beyond speculative interest.

However, sustained success will depend on retaining those users over time. If daily transactions and liquidity continue expanding, Robinhood Chain could become an increasingly important contributor to Uniswap’s long-term protocol growth.

Final Summary Uniswap could link long-term token value to protocol usage through its proposed fee-funded burn mechanism. Uniswap adoption on Robinhood Chain will determine whether sustained burns meaningfully strengthen token scarcity.

Cardano founder Charles Hoskinson (@IOHK_Charles) has pushed back at community criticism following Japanese financial giant SBI Holdings' decision to partner with Solana for its stablecoin and real-world asset (RWA) tokenization ambitions, a move that has stoked frustration among $ADA holders.

SBI Bets on Solana for Japan's Onchain Financial Market SBI Holdings and the Solana Foundation announced SBI Solana Global on July 13, 2026, to build Japan's first onchain financial market. The partnership will see SBI R3 Japan adopt the planned trade name SBI Solana Global and pursue a new growth strategy alongside shareholders SBI Holdings and Sumitomo Mitsui Financial Group.

SBI Holdings lists supporting the issuance and distribution of stablecoins, supporting the structuring and distribution of tokenized RWAs, and developing payment infrastructure for AI agents among SBI Solana's functions. According to SBI, the platform is intended to connect Japanese financial assets with global liquidity pools.

The partnership builds on Japan's existing regulatory framework for stablecoins and security token offerings, one of the more established regimes among major financial markets.

Hoskinson: Use the Treasury, Stop Expecting IOG to Do It All Japanese financial giant SBI Holdings' move onto the Solana blockchain sparked a public clash within the Cardano ecosystem, with the corporation's announcement triggering a wave of criticism among ADA holders. Some pointed to Japan's historic role in supporting Cardano as reason enough for Hoskinson and Input Output Global (IOG) to have secured a comparable deal.

Hoskinson rejected that framing. He argued that commercial deals of this kind should be funded through Cardano's onchain treasury rather than relying on IOG or himself to deliver every institutional partnership. Hoskinson stressed that if the community wants deals on the scale of SBI, it must fund commercial initiatives itself instead of demanding solutions on social media.

The conflict has exposed a systemic challenge for Cardano. While Solana operates through aggressive, centralized foundations that directly secure integrations, Cardano is attempting to live by the rules of pure democracy, where every grant must pass through lengthy rounds of voting.

For Hoskinson, it is a manifesto: decentralization means that every token holder is now responsible for the network's commercial success, not a single prominent leader. Whether the broader $ADA community accepts that argument, and whether Cardano's treasury governance is agile enough to compete for deals at the speed that institutional partners demand, remains an open question.

Sources:
CoinDesk: SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance
U.Today: Charles Hoskinson fires back at Cardano community after Solana's Japan deal
Finance Magnates: SBI Holdings taps Solana to build Japan's institutional onchain finance market

Please see below information about transactions made under the second tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

Date on which the buy-back tranche was announced: 6 May 2026.

The duration of the buy-back tranche: 19 May to no later than 20 July 2026.

Further information on the tranche can be found in the stock market announcement on its commencement dated 6 May 2026, available here: https://newsweb.oslobors.no/message/672447

From 6 July to 10 July 2026, Equinor ASA has purchased a total of 507,713 own shares at an average price of NOK 327.3386 per share.

Overview of transactions:

DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK)     6 JulyOSE114,796316.412536,322,889.35 CEUX    TQEX        7 JulyOSE105,000323.521433,969,747.00 CEUX    TQEX        8 JulyOSE95,000335.687331,890,293.50 CEUX    TQEX        9 JulyOSE95,000333.444131,677,189.50 CEUX    TQEX        10 JulyOSE97,917330.218132,333,965.70 CEUX    TQEX        Total for the periodOSE507,713327.3386166,194,085.05 CEUX    TQEX        Previously disclosed buy-backs under the trancheOSE2,754,103335.7185924,603,196.68CEUX   TQEX   Total2,754,103335.7185924,603,196.68     Total buy-backs under the tranche (accumulated)OSE3,261,816334.41411,090,797,281.73CEUX   TQEX   Total3,261,816334.41411,090,797,281.73 Following completion of the above transactions, Equinor ASA owns a total of 13,767,701 own shares, corresponding to 0.58% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 3,261,816 own shares, corresponding to 0.14% of the share capital).

This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

Contact details:

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations,
+47 918 01 791

Media
Sissel Rinde, vice president Media Relations,
+47 412 60 584

Detailed overview of transactions

The launch of Robinhood Chain on an Ethereum layer-2 network is bullish for long-term value and network effects, argue analysts. 

Robinhood Chain has generated $816,000 in gross revenue since launching on July 1, with 89% captured by Robinhood, 10% by Arbitrum as middleware, and only 0.15%, or $1,538, paid to Ethereum for settlement, which doesn’t sound great.

Robinhood Chain is an EVM-compatible Arbitrum-based layer-2 network that uses ETH as its native gas token, but Ethereum is not seeing any revenue benefits yet.

Bullish or Bearish for Ethereum? Lorenzo Valente, director of research at Ark Invest, said, “If your thesis is ‘ETH is money,’ Robinhood building here is ultra bullish.” “More activity, more ETH collateral, more lindyness,” he added.

However, for those who believe ETH is a revenue-generating asset, “this is the ultra-bear case.” He added that Robinhood was never going to build on Solana, Sui, or any “monolithic layer-1” because it wants stack customization.

“They want to be landlords, not renters. Ethereum won this deal on merit. It’s just not pricing it right … Ethereum sells the most valuable settlement layer in crypto at marginal cost.”

Valente said that a healthier split would be 75% to Robinhood, 10% to Arbitrum, and 15% to Ethereum.

The Robinhood Chain is the cleanest case study of what happened to ETH’s economics over time.

Since inception, @RobinhoodApp Chain has grossed ~$816K in revenue.@Arbitrum, the middleware provider, takes 10%: ~$80K.

Arbitrum then pays Ethereum for settlement: $1,538.

The… pic.twitter.com/Jc8k4yi60M

— Lorenzo Valente (@LorenzoARK) July 13, 2026

Responding to the post, Consensys founder Joe Lubin said Ethereum layer-1 revenue fees should stay low to foster growth.

You may also like: Expert: Bitcoin Faces $8B Attack Risk, Ethereum More Secure Bitmine Snaps Up Over 30,500 ETH as Tom Lee Focuses on Crypto’s New Success Story AI Found a Real Ethereum Bug – But the Bigger Story Is What Comes Next “Tens of thousands of companies will set up shop over the next 2-3 years on some mix of Ethereum L1, L2s, and private permissioned EVMs.”

“Monetary premium will grow very large, fee revenue to L1 from so much activity,” he added before concluding that staking and other locking away of ETH will reduce supply, and “net burning of ETH under ultrasound conditions will further grow the value of ETH.”

Since its launch a fortnight ago, 82,895 ETH worth around $147.5 million has been bridged to Robinhood Chain, according to Defillama. Analysts say this has become another demand sink, along with staking, which has 33% of the supply locked, treasury companies, and ETFs.

No Love For ETH Prices Despite this bullish narrative, Ether prices remain at multi-year bear market lows with low volume and negative sentiment. ETH is trading flat on the day at around $1,780 following a dip to $1,750 during early Tuesday trading in Asia.

It has moved off its cycle low of just over $1,500 in late June, but has hit resistance at $1,800 six times over the past ten days. This remains the barrier to break for ETH to continue its slow climb higher.

The major catalysts for Ether are macro and likely to be inflation coming down and lower chances of a Fed rate hike.

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Moonbeam, once the crown jewel of Polkadot’s parachain ecosystem, is pulling the plug. The network will cease operations on July 31, 2026, and every user with funds parked on the chain, whether through Moonwell, Wormhole, or any other protocol, has a hard deadline to get their money out.

What’s happening and why it matters Wormhole, the cross-chain interoperability protocol that enables token transfers across blockchains, has issued a direct warning to its users. Any assets bridged to Moonbeam via Wormhole must be withdrawn and transferred to other networks before the shutdown date. Once the parachain winds down, Wormhole contributors will not be able to assist with any stuck assets.

Moonwell, the decentralized lending protocol that operates on Moonbeam, is taking the threat seriously. The protocol has introduced governance proposal MIP-M45, which aims to halt all new supply and borrowing activity on Moonbeam ahead of the parachain’s closure. The proposal also calls for withdrawing reserves from various markets on the chain.

The assets affected on Moonwell include GLMR, xcDOT, USDC, FRAX, and ETH. Users with open lending or borrowing positions on the protocol’s Moonbeam deployment need to close them manually. There is no automatic migration, no safety net, no do-over.

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Moonwell’s strategic retreat from Polkadot Moonwell deprecated its Moonriver deployment on January 29, 2026. Moonriver is Kusama’s equivalent of what Moonbeam is to Polkadot, essentially a canary network that served as a testing ground.

Then, on May 21, 2026, Moonwell migrated its governance from Moonbeam to the Ethereum mainnet. MIP-M45 is the final chapter of that migration story. By halting all new lending and borrowing on Moonbeam, the protocol is effectively telling its remaining users: we’re leaving, and you should too.

The GLMR token migration to Base For holders of GLMR, Moonbeam’s native token, there’s a specific path forward. The token is scheduled to migrate on a 1:1 basis to an ERC-20 token on Base, Coinbase’s Layer-2 network built on Ethereum’s OP Stack.

A migration bridge has been set up for this purpose, but it comes with the same hard deadline. The bridge is expected to remain operational only until July 31, 2026. After that, any GLMR still sitting on Moonbeam becomes unrecoverable.

Moonbeam was the first parachain on Polkadot to support full Ethereum-compatible smart contracts, having launched on January 11, 2022.

What investors and users should do now The immediate priority is straightforward: if you have any assets on Moonbeam, move them. This applies whether you’re using Moonwell, Wormhole, or any other protocol deployed on the chain.

For Moonwell users specifically, the steps involve closing any open lending or borrowing positions on the Moonbeam deployment. For GLMR holders, the 1:1 migration to an ERC-20 token on Base needs to happen before the bridge closes on July 31, 2026.

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

Press Release

Nokia and Taiwan Mobile extend 5G partnership to advance AI-powered networks

Nokia's AirScale portfolio and AI-driven software power Taiwan Mobile's 5G network modernization for enhanced performance, automation, and sustainability.New collaboration leverages AI across network intelligence, infrastructure, energy management and resilience to enable advanced 5G services and monetization. 14 July 2026
Espoo, Finland – Nokia today announced it has signed a 5G expansion agreement with Taiwan Mobile to accelerate the evolution toward AI-native mobile networks across Taiwan. The agreement reinforces Nokia’s role as a trusted long-term partner and supports Taiwan Mobile’s goals of enhancing network performance, automation, and sustainability.

Under the agreement, Nokia will deploy its latest AirScale portfolio, including next-generation baseband and radio solutions, alongside advanced software capabilities to enhance Taiwan Mobile’s existing network infrastructure and enable new 5G services and monetization opportunities. The partnership builds on the companies' shared vision of integrating artificial intelligence across mobile networks to create highly automated, resilient and energy-efficient networks capable of supporting the increasing AI traffic.

Driving AI across the network lifecycle
The deployment introduces a comprehensive set of AI-driven capabilities spanning network intelligence, infrastructure, sustainability and resilience:

AI for Network (Intelligence): Nokia will introduce AI-powered software that enables real-time automation and predictive analytics, enhancing operational efficiency and enabling closed-loop network assurance. The agreement includes Predictive Hardware Analytics (PHWA) service and our self-organizing networks solution, MantaRay SON, which uses AI algorithms to automate operations and enhance performance.Network for AI (Infrastructure): Nokia’s next-generation baseband and advanced radio solutions will increase network capacity and uplink performance to meet the demands of new traffic profiles generated by AI applications while delivering superior user experiences.
 AI for Energy (Sustainability): Advanced AI-powered energy management algorithms will enable traffic-aware optimization and proactive power savings, helping Taiwan Mobile reduce energy consumption and meet its ESG targets.
 AI for GeoStrategy (Resilience): AI-enabled self-healing and traffic steering capabilities will strengthen network resilience, allowing the network to dynamically adapt to changing conditions and maintain service continuity, including in extreme scenarios. Enabling automation, performance, and new services
The new deal will expand 5G capacity and optimize network performance through the deployment of advanced radios and next-generation baseband solutions. These upgrades will support enhanced throughput, improved spectrum efficiency and the delivery of premium user experiences. In parallel, the integration of AI-driven network management and automation solutions will enable predictive maintenance, reduce operational complexity and lower total cost of ownership while supporting the introduction of new 5G capabilities such as slicing and RedCap.

Supporting sustainability and long-term network evolution
Nokia’s energy-efficient hardware combined with AI-driven software will help Taiwan Mobile reduce power consumption and enable more sustainable network operations. This supports the operator’s ambition to build a low-carbon, high-efficiency network while improving overall operational performance.

“We are extending our long-standing partnership with Taiwan Mobile, helping accelerate its journey toward AI-native networks. Our advanced radio and baseband solutions and AI-driven software deliver intelligent automation, enhanced performance and improved energy efficiency, setting the foundation for 5G-Advanced and beyond. The future-ready network enables Taiwan Mobile to deliver increasing volumes of AI traffic, provide new types of services and progress toward its sustainability targets,” said Mark Atkinson, Head of RAN at Nokia.

Jamie Lin, President of Taiwan Mobile, said: “Our collaboration with Nokia is a key pillar in our strategy to build a high-performance, resilient and sustainable network that powers our fast-growing and ever-expanding Telco+Tech businesses. By integrating AI across our network for better energy optimization, resilience and service innovation, we are creating a platform that supports next-generation applications delivered with industry-leading experiences for our customers. This long-term partnership that focuses on win-win enables us to accelerate our leadership position as the go to partner in AI era and unlock new exponential growth opportunities.”

Multimedia, technical information and related news
Product Page: AirScale Radio Access
Product Page: MantaRay SON
Product Page: AI-RAN

About Nokia 
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SummaryCompaniesNet profit forecast to jump 59% to $20 billion in second quarterEarnings call scheduled for Thursday at 0600 GMTTSMC benefiting more than other chip foundries from AI boomSecond-quarter revenue rose 36% to new record, TSMC ​said MondayTAIPEI, July 14 (Reuters) - TSMC, the world's largest manufacturer of advanced ‌AI chips, will likely notch a fifth consecutive quarter of record earnings, driven by booming AI infrastructure spending.

Analysts say demand for Taiwan Semiconductor Manufacturing Co's (TSMC) (2330.TW), opens new tab 3-nanometre and 2-nanometre process technologies for AI chips, as well as for its advanced chip packaging technology, ​CoWoS, remains strong.

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That has catapulted Asia's most valuable company, a key supplier to Nvidia (NVDA.O), opens new tab and Apple (AAPL.O), opens new tab, to ​new heights. Its market capitalisation is now nearly double that of South Korean rival ⁠Samsung Electronics (005930.KS), opens new tab at around $1.97 trillion.

On Thursday, TSMC is expected to report a 59% surge in net profit to ​T$632.6 billion ($19.65 billion) for the second quarter, according to an LSEG SmartEstimate compiled from 18 analysts. SmartEstimates place greater weight ​on forecasts from analysts who are more consistently accurate.

An earnings call at which it will provide third-quarter and updated full-year guidance is scheduled for 0600 GMT.

Any result above T$572.5 billion would mark the company's highest-ever quarterly net income, and its 10th consecutive quarter of ​profit growth.

On Monday, it posted a 36% year-on-year rise in second-quarter revenue, ahead of market forecasts and a ​new record high.

"TSMC’s strong second-quarter revenue shows AI demand remains healthy, driving demand for its advanced chip production and CoWoS ‌packaging," said ⁠Dan Nystedt, research analyst at TriOrient, an Asia-based private investment firm.

People stand behind a sign with a TSMC logo during TSMC's third quarter earnings conference in Taipei October 25, 2012. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast two quarters... Purchase Licensing Rights, opens new tab Read more

Analysts broadly expect TSMC to raise its full-year revenue growth outlook.

Haas Liu, Bank of America's Asia semiconductor analyst, said in a research note that supply chain checks suggest the AI demand pipeline remains strong, and that TSMC could raise the full-year outlook from ​its current guidance of "above 30%" ​year-on-year.

Another key focus for ⁠investors will be whether TSMC raises its capital spending outlook, viewed as an important gauge of management's confidence in the durability of AI demand.

On its last earnings ​call in April, the company said 2026 capital expenditure would be at the high ​end of ⁠its earlier guidance of $52 billion to $56 billion.

While some analysts, including Nystedt, expect TSMC to retain that guidance, Liu forecasts the company could raise capital spending to about $58 billion, citing tight equipment supply and aggressive capacity expansion by ⁠memory makers ​including Samsung Electronics (005930.KS), opens new tab, Micron Technology (MU.O), opens new tab and SK Hynix (000660.KS), opens new tab.

TSMC is investing $165 billion ​to build chip factories in the U.S. state of Arizona.

TSMC's Taipei-listed shares have gained 56% so far this year, slightly higher than the 54% ​rise for the broader market (.TWII), opens new tab.

($1 = 32.1880 Taiwan dollars)

Reporting by Wen-Yee Lee and Ben Blanchard; Editing by Kevin Buckland

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

Ben joined Reuters as a company news reporter in Shanghai in 2003 before moving to Beijing in 2005 to cover Chinese politics and diplomacy. In 2019 Ben was appointed the Taiwan bureau chief covering everything from elections and entertainment to semiconductors.

Uber has spent the last year quietly pushing beyond the two businesses most people associate it with. There’s ride-hailing, of course, and delivery, but spend time in the app and you’ll now find hotel bookings powered by Expedia, “shop for me” concierge features, and boat rentals in Europe.

Under the hood, so to speak, there’s also a lot happening. Think debit cards for drivers, a data-labeling side hustle for these same earners looking to make more moolah, and a six-month-old, business unit called AV Labs, which is developing a fleet of sensor-equipped vehicles that’s separate from Uber’s regular driver network and designed to gather ever-larger amounts of driving data. Uber frames the initiative as a way to strengthen its relationships with autonomous vehicle partners, several of which it also holds equity in, but it sure looks like a hedge, as well. Uber competes directly with some of those same partners, with Waymo chief among them, and owning the data layer gives Uber both some leverage and optionality.

Whether Uber becomes a full-blown “everything app” similar to some Asian super-apps like Grab, remains an open question. But in this conversation, Uber Chief Product Officer Sachin Kansal walks TechCrunch through the company’s financial-services ambitions, its increasingly complicated relationship with Waymo, its new AV Labs data operation, and how AI is starting to show up in ways riders and drivers will actually notice.

This interview has been edited for length and clarity.

TC: You unveiled hotels, boat rentals, and more shopping features earlier this year. How did that list get made, and what didn’t make the cut?

SK: Every year our teams are obviously building a lot of stuff, and a subset of that we decide is worth sharing with the world on the biggest stage. This year the theme that we gravitated towards was really travel. 1.5 billion trips on the Uber platform every year actually happen outside of a user’s home city, so we know that travel is something that’s a very common use case for Uber users. Our headline announcement this time was actually introducing hotels on Uber as a partnership with Expedia. But travel is so much more than that — you need rides to go from the airport to the hotel, and you need food. We heard from a lot of our users that a lot of them had stopped using room service and were just using the Uber Eats app. With “shop for me,” the goal was for us to enable you to shop from any local store even if that store is not available on Uber Eats with the entire catalog. Travel really is, in my opinion, the third leg of the stool — we had rides, then we added eats, and now we are adding travel.

Is Uber moving toward offering its own financial services, the way “everything apps” in Asia do?

Financial services for us cuts across multiple different entities — consumers, but also drivers and couriers, and merchants. We have multiple products today focused mostly on drivers and couriers, where we have what we call the Uber Pro card, which they can use as a debit card and transfer all their earnings onto. We are starting to experiment with some of those products for merchants in certain parts of the world right now. As far as consumers are concerned, we’ll see if that makes sense for us in the long term. Right now there is a currency for consumers to use — we call them Uber credits — and this ties to our membership program. On hotels, for example, members get 10% cash back on a $1,000 transaction, that’s $100 back as credit that you can then use on rides and eats.

Would Uber ever offer its own buy now, pay later product?

I’m not sure, because we want to make sure that the experts do what the experts do. We already have announced partnerships with others in the industry who are already providing that service, so that at checkout you have the ability to do that. In terms of our general product strategy, we’re not trying to be everything to everyone.

With boat rentals, in Europe, tapping the tab hands users off to a partner’s own booking flow rather than checking out inside Uber. Is that handoff model a template for what’s coming?

Definitely there are some instances, especially when we are doing something new, for us to rely on our partners, because a two-way integration just does take a lot of time, and in some cases it’s good for us to try before we integrate deeply. In the case of Expedia, we decided it just makes sense to integrate deeply — we built the entire UI on our own in partnership with Expedia. But in some cases it may make sense for us to hand off the rest of the experience to the experts in that field, and if you get great traction, we can always integrate them deeply.

Your Uber One membership product now has 51 million members and accounts for roughly half of bookings. Do you have data showing the cross-sell actually works — that a delivery user later starts taking more rides?

On the delivery side, it takes you two to three orders for you to break even the monthly fee that you pay. As members get more habituated to the program, it’s increasing their frequency within the line of business they are already using. And it’s also leading to more usage of the other sides of the business — we are seeing people who are mobility only also start to use delivery, and people who are delivery only also start to use mobility.

Delivery has been one of the hardest businesses in tech to make profitable. Is Uber Eats still leaning on ride-hailing to stay healthy?

During the early years of Uber Eats it was not profitable yet, but over the last several quarters, Uber Eats has been independently a profitable business for us, and generating a lot of profit.

A story I wrote this spring framed Uber as unexpectedly competing more directly with Airbnb, which is now offering airport transfers through a partner. Do you see it that way? Who are you most focused on?

There’s no dearth of competitors — Lyft in the U.S., Didi and 99 in Latin America, Bolt, Ola around the world, and on delivery, DoorDash, Delivery Hero. But I only spend a very small percentage of my time thinking about that. The bigger percentage of my time, or what keeps me up at night, is are we providing our users all the value that we can provide.

You recently wound down the Waymo pilot in Phoenix while scaling elsewhere. How do you keep the experience coherent when you’re partnering with — and in some cities competing with — the same supplier?

Phoenix was the first city that we launched with Waymo, with about a dozen cars, but our scale launches have been in Austin and Atlanta, where we have hundreds of cars with them. When we recently looked at the Phoenix pilot, we mutually decided that it doesn’t make sense for us to continue. Waymo is an excellent partner of ours, but in many cities they’re also a competitor. We are not in the race to be an L4 autonomy provider — what we are focusing on is laying down the race tracks so we can work with multiple players. We believe in the hybrid network, human drivers as well as autonomous vehicles in the same city, because it allows us to balance demand and supply.

Regarding AV Labs, what can Uber offer autonomy partners that they don’t already have?

We are going to be equipping hundreds of cars with sensors, deployed through our fleet partners, and through that we’ll be collecting millions of miles worth of driving data. That really helps with the long-tail problem — you want to see all the edge cases, not just the P95, P99 level. Beyond the data itself, there’s so much know-how from our 10 million earners in terms of how pickups and drop-offs work. We handle 25 million lost items every single year — how do you operationally handle that in the world of autonomy? That’s the kind of operational expertise we can bring.

Is Uber selling driver and rider data to Gen AI companies?

I would divide this into two parts. In terms of Gen AI companies, we are able to label data for them using our earner base, or through audio collection, and yes, we have commercial relationships with them and we are selling it to them — that’s a part of the business that is new, and we are extremely bullish about it. AV Labs is separate, and we are still figuring those models out for sharing that data with partners. It’s a little early.

Are drivers recording conversations with riders for this data work?

No, no, no — I want to be very clear, there’s no conversation being recorded as part of that while they’re on a ride. When they’re not on a trip, they’re not driving, they’re not delivering, they’re just talking, or they’re listening to a piece of audio and transcribing it. They get paid for doing that, by the way.

Where has AI actually shown up in ways a rider or driver would notice?

If you are an earner on our platform, we have an earner assistant — the number one question on their mind is how do I make more money, and it will say, look, it’s actually pretty light in the South Bay, but you may want to go five miles away where there’s a lot of demand. On the Eats side, there’s a grocery cart assistant where you can say “I want milk, eggs, bread” and it creates the cart very quickly. And on rides, you’re able to use voice to request a ride — say “I’m looking for a ride to the airport, I have six pieces of luggage, six people.”

So a fully agentic Uber — “plan and book my whole trip” — is on the horizon?

I can’t put a date on it, and I can’t tell you exactly what the feature set will be, but I think AI is going to be a huge enabler of that, where I can leave the complexity to the platform and just tell an agent what exactly I want. Easier said than done — we want to make sure we’re not just checking a box by shipping an agent that maybe doesn’t work that well.

As CPO, how do you personally prioritize with so many ideas in flight?

I would say I spend 70% to 80% of my time making sure that our existing products, or the products we are about to launch, are as solid as possible. All the new ideas are like shiny objects — if you have 100 ideas, maybe five of them are good, and those five then need a lot of cultivation and conviction. So probably 20% of the time is on new ideas — including, by the way, I go out and drive and deliver myself, just to see our product from the other side firsthand.

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Enbridge (ENB +0.73%) is one of North America's largest energy infrastructure companies, operating in the midstream part of the ecosystem, which is responsible for transporting and storing oil, natural gas, and other energy products.

At the end of the first quarter, Enbridge served over 75% of North American oil refineries, transported 20% of all natural gas consumed in North America, and served over 7 million utility customers. It might not be a household name, but it's an important part of the country's energy infrastructure, and its growth will continue as its project backlog expands.

Image source: The Motley Fool.

Enbridge has plenty of future commitments locked in Enbridge's growth capital backlog is essentially its to-do list of projects. The company has committed to the projects, but they haven't been fully completed or put into service yet. Enbridge's backlog currently includes the following:

Expanding its current natural gas and liquids pipelines Developing utility networks Developing offshore wind farms Improving its carbon capture and storage abilities A backlog may not be ideal from a short-term standpoint, but it's a visible way for investors to assess Enbridge's future revenue. And given that much of the appeal of Enbridge's stock lies in its dividend, it should be reassuring to investors that the company continues to secure cash-generating projects.

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Enbridge's dividend works a bit differently from that of U.S. companies Typically, when a company declares a dividend amount, you know that's the exact amount you can expect. If it's $1 quarterly, you can expect $1 paid out.

Enbridge is a Canadian company, so it pays dividends in Canadian Dollars (CAD), but when it pays them out to American investors, it automatically converts them to USD. Since the CAD-USD exchange rate fluctuates, the exact dividend payout amount will vary. It's likely not by much, but it will fluctuate nonetheless.

You should also expect the dividend to be subject to a 15% upfront withholding tax in Canada, but you can recoup it on the back end by claiming the Foreign Tax Credit (IRS Form 1116), which will reduce your tax liability by the amount Canada withheld. This prevents you from paying taxes twice on the dividend you receive.

ENB Dividend data by YCharts

Know what you are and aren't getting with Enbridge's stock Enbridge isn't a stock you should buy expecting consistent market-beating returns (although it is outperforming the S&P 500 this year through July 11), but it's hard to deny its effectiveness as a reliable income source. It has increased its annual dividend for 31 consecutive years, and with its current backlog and growth capital projects, I don't see that streak ending anytime soon.

The company has a minor red flag -- its high debt -- but that isn't an issue that should cause investors to lose sleep. It remains a great buy for income investors and has plenty of cash flow to remain shareholder-friendly.

By PYMNTS  |  July 13, 2026

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Robinhood Markets is weighing the sale of between $400 million and $500 million of asset-backed securities, including a bond backed by bills for its branded consumer credit cards, Bloomberg reported Monday (July 13), citing unnamed sources.

The company is currently gauging investor interest in the bond, which would be its first such offering, according to the report.

Robinhood did not immediately reply to PYMNTS’ request for comment.

According to the Bloomberg report, Capital One Financial sold $3.85 billion in bonds backed by card receivables last week.

Robinhood announced June 25 that it closed an offering of $2.2 billion of 0.00% convertible senior notes due 2029.

The company said at the time in a press release that the transaction enhanced its “strategic flexibility to invest for future growth” and that it would use about $290 million of the proceeds to repurchase outstanding Class A common stock.

PYMNTS reported in April that Robinhood’s first quarter earnings reflected the company’s deliberate pivot from a trading app tied to retail speculation toward an integrated financial platform built to capture long-term customer value.

“Driven by our relentless product velocity and innovation, Robinhood is increasingly positioned at the center of our customers’ financial lives, just as we enter the early innings of the Great Wealth Transfer,” Robinhood Chairman and CEO Vlad Tenev said during the earnings call.

Robinhood’s March 2024 launch of a credit card marked the continuing expansion of the company into financial services at that time.

The company said at the time that it recognized the need for change and that it sought to reimagine the credit card experience with the launch of the Robinhood Gold Card.

PYMNTS reported at the time that while Robinhood made a name for itself as a stock trading and investment app, it had begun to broaden its horizons.

Robinhood announced in March that it introduced a high-end credit card with a $695 annual fee and luxury perks as part of a suite of new products centered on family finance.

In May, the company launched Agentic Trading and the Agentic Credit Card, which allows artificial intelligence agents to make trades and credit card purchases on a customer’s behalf.

Super Micro Computer (SMCI - Free Report) ended the recent trading session at $27.66, demonstrating a -2.3% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 1.55%.

The server technology company's shares have seen a decrease of 7.06% over the last month, not keeping up with the Computer and Technology sector's gain of 3.44% and the S&P 500's gain of 4.28%.

The upcoming earnings release of Super Micro Computer will be of great interest to investors. The company is expected to report EPS of $0.7, up 70.73% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $11.71 billion, indicating a 103.47% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $2.59 per share and a revenue of $39.67 billion, demonstrating changes of +25.73% and +80.55%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Super Micro Computer. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.35% higher within the past month. Super Micro Computer is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, Super Micro Computer currently has a Forward P/E ratio of 8.82. For comparison, its industry has an average Forward P/E of 15.88, which means Super Micro Computer is trading at a discount to the group.

It is also worth noting that SMCI currently has a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer- Storage Devices industry had an average PEG ratio of 1.67 as trading concluded yesterday.

The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 6, this industry ranks in the top 3% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Neil Gregory Almstead, the chief technical ops officer of PTC Therapeutics, Inc. (PTCT 4.15%), sold 2,464 shares of common stock on July 9, 2026, at $90.25 per share, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$222,376Shares sold (direct)2,464Post-transaction shares (directly held)60,299Post-transaction shares (indirectly held)2,899Post-transaction value$5.66 millionTransaction value based on SEC Form 4 weighted average sale price ($90.25); post-transaction value based on July 09, 2026 market close ($89.55).

Key questionsWhat was the structural context of this disposal?
The transaction was part of a routine liquidity event conducted under a Rule 10b5-1 trading plan. The shares were sourced from an option grant issued on January 3, 2025, which is currently subject to a four-year vesting schedule. By utilizing a pre-established plan, the insider manages equity compensation in a manner that mitigates the potential for trading on material non-public information.How does this impact the insider’s total economic exposure?
While the sale involved 2,464 shares, Neil Gregory Almstead continues to hold a substantial interest in the company. In addition to the 63,198 shares of common stock held across direct and indirect accounts, the insider also holds 45,036 derivative securities, including vested and unvested awards, ensuring continued alignment with shareholder outcomes.What is the current operational and financial profile of the issuer?
PTC Therapeutics is a biopharmaceutical company focused on developing therapies for rare genetic disorders, maintaining a $7.0 billion market capitalization as of the July 10, 2026 market close. The firm reported trailing twelve-month revenue of $827.1 million and a net loss of $186.7 million, with an insider ownership base that represents 0.0762% of the company.Company OverviewMetricValueShare Price (as of market close 2026-07-10)$84.85Market Capitalization$7.0 billionRevenue (TTM)$827.1 millionNet Income (TTM)-$186.7 millionCompany SnapshotPTC Therapeutics develops and commercializes innovative therapies targeting rare genetic disorders, with a diversified portfolio of approved medications and experimental drug candidates across multiple stages of clinical development.The company generates revenue through the commercialization of approved therapeutic products while advancing a robust pipeline of novel drug candidates designed to address unmet medical needs in rare disease indications.PTC Therapeutics serves patients suffering from rare genetic disorders and their healthcare providers, focusing on therapeutic areas where there are significant unmet medical needs and limited treatment options.PTC Therapeutics is a biopharmaceutical enterprise with a market capitalization of $7 billion. The company has achieved TTM revenue of $827.1 million, demonstrating meaningful commercial traction in the rare disease therapeutics market. PTC's competitive differentiation lies in its specialized expertise in rare genetic diseases, coupled with a diversified pipeline spanning early-stage research through late-stage clinical development, positioning the company to capture significant value as pipeline candidates advance toward regulatory approval and commercialization.

What this transaction means for investorsWhen a technical-operations officer sells a stake this small on a schedule, there's simply nothing to decode. Almstead sold 2,464 shares under a preset plan, and they came straight off an option grant, so this is the routine way executives convert a sliver of vesting compensation into cash. He still holds 63,198 shares plus another 45,036 in options and awards, so the vast majority of his exposure is untouched.

Meanwhile, the company underneath is in the middle of a genuine commercial inflection. PTC posted first-quarter product revenue of $225.6 million, powered by its new PKU drug Sephience, which hit $124.6 million in sales, up 36% in a single quarter. Management raised full-year product guidance to between $750 million and $850 million, and CEO Matthew Klein pointed to sustained launch momentum in the U.S. and abroad. The company sits on roughly $1.89 billion in cash. For long-term investors, the real questions are whether Sephience's launch keeps compounding. More clarity on that front should be expected on July 29, when the firm reports fiscal 2026 third-quarter results.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

SkyWest (SKYW - Free Report) closed at $97.78 in the latest trading session, marking a -1.95% move from the prior day. This move lagged the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 1.55%.

The stock of regional airline has risen by 8.69% in the past month, leading the Transportation sector's gain of 3.77% and the S&P 500's gain of 4.28%.

The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2026. The company is forecasted to report an EPS of $2.7, showcasing a 7.22% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.11 billion, indicating a 6.83% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.88 per share and a revenue of $4.37 billion, indicating changes of +5.12% and +7.71%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.03% lower within the past month. SkyWest is holding a Zacks Rank of #4 (Sell) right now.

Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 9.17 right now. This expresses a discount compared to the average Forward P/E of 11.27 of its industry.

Investors should also note that SKYW has a PEG ratio of 1.41 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Transportation - Airline industry held an average PEG ratio of 0.83.

The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

According to a report, the company plans to skip higher-performance versions of some of its processors along the way.

Omar Gallaga has covered technology, digital culture and other topics for outlets including CNET, NPR, WIRED, Texas Monthly, MSNBC, Consumer Reports, The Washington Post, the Los Angeles Times, The Atlantic and the Austin American-Statesman, where he was a longtime tech reporter, editor and podcaster. He lives in the Texas Hill Country.

3 min read

Apple is changing the way it will handle the release of its next flagship M processors going forward, according to a report from Bloomberg's Power On newsletter.

Power On author Mark Gurman wrote that in a race to get to its M7 generation of processors, which use neural processing to improve AI performance, Apple will skip some iterations of processors along the way. For instance, whereas Apple may have released Pro, Max and Ultra versions of some M-series processors, it may not do so for the next one in line, M6, due out this fall.

Apple's M5 processors for desktop and laptop Mac computers, as well as some iPads, started becoming available in those products in the fall of 2025.

Bloomberg previously reported anticipated changes in the M6 roadmap in June, but is now reporting how Apple's plans for its processor lineup, up to the M8, are being influenced by artificial intelligence, including competition from companies like Nvidia. Gurman points to the development of advanced AI performance for the M7 Ultra processor as one reason for accelerating the chip-release roadmap. An even more advanced M8 processor codenamed Soko is also in the works, according to the report.

A representative for Apple didn't respond to a request for comment.

Apple's long game on AIApple has not been as overtly aggressive with its AI efforts as other tech giants like Microsoft, Google, Meta and OpenAI. But as Gurman suggests in his report, it has been quietly laying the groundwork for its long-term AI goals using technology it developed, even on failed projects such as the canceled Apple Car.

The company has delayed versions of its Siri assistant to refine its AI capabilities while continuing to develop processors that can handle the high demands of on-device AI rather than offloading processing to data centers, as many AI services do.

This strategy has served Apple well in the past: Wait for others to introduce new technology, learn from their mistakes, and then release its own products that are more refined. It's how Apple dominated headphones with its AirPods and what it did in wearables with the Apple Watch.

But with AI, Apple is battling competitors -- including partners like Google -- on several fronts. And that is requiring the company to shift its strategy in several ways. With its processors, Apple is pushing for improvements in memory bandwidth and Neural Engine improvements, said Mahdi Eslamimehr. executive vice president at Quandary Peak Research.

"Skipping the M6 Pro, Max and Ultra to pull the M7 generation forward is the clearest signal yet that AI has displaced CPU and graphics as the organizing principle of Apple's chip roadmap," Eslamimehr told CNET.

That move, he said, is bolstered by the company's hardware chief, John Ternus, taking over as CEO in the fall. "That silicon-first bet now has backing at the very top of the company," Eslamimehr said.

Apple, he said, won't be competing with Nvidia on the data center side of the AI business where it dominates with its processors, but will instead focus on making devices that excel as private, on-device AI computing powerhouses that eventually "would push local performance toward workstation class."

The payoff for Apple power users, he said, will be more powerful hardware-native AI, but it might not be until late 2027 before they get their hands on top-tier Apple M7 hardware.

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OMAR GALLAGA

Omar Gallaga has covered technology, digital culture and other topics for outlets including CNET, NPR, WIRED, Texas Monthly, MSNBC, Consumer Reports, The Washington Post, the Los Angeles Times, The Atlantic and the Austin American-Statesman, where he was a longtime tech reporter, editor and podcaster. He lives in the Texas Hill Country. See full bio

A fisheye view of thousands of servers at Facebook’s data center in Luleå, Sweden, in 2013. The facility illustrates the scale of Meta’s infrastructure but is separate from its $50 billion Louisiana expansion.

AFP via Getty Images

On July 13, Meta said it would put more than $50 billion into a single Louisiana data center, more than doubling its planned capacity to 5 gigawatts. Twelve days earlier, Bloomberg reported that the same company was developing plans to sell its "excess" AI computing capacity to outsiders. Read those two headlines together and something doesn’t add up. One of the largest buyers of compute on earth is telling the market it needs vastly more, and that it expects to have enough to spare, within 12 days.

That contradiction is not really about Meta. It’s the question the whole AI buildout has been dodging: how much of the compute already bought is actually being used?

The most flattering answer is also the most revealingStart with the most charitable reading, because it’s probably the right one. Meta is building for the future and renting out the slack until it needs it. That isn’t a stretch. It follows a basic cloud logic: build at scale, then sell the capacity you aren’t using yet. AWS turned that model into Amazon’s most profitable business. If that’s the play, selling "excess" compute is the smartest move on the board.

But it only works when the provider can measure its own utilization precisely, so it knows exactly how much slack it can safely lease out. The real question about Meta is not whether building ahead is wise. It’s whether Meta can prove which story it’s in. Without a utilization number, no outsider can separate "deliberately built ahead" from "bought more than the workloads will absorb." That gap is not academic. Amazon, Microsoft, Alphabet and Meta plan to spend roughly $725 billion in 2026 capital spending, primarily for AI data-center equipment, up 77% from last year. Even a small utilization miss across a buildout that large can strand billions in equipment sitting warm, waiting for work.

The polite word for selling that gear is optionality. The blunt one is overbuilding.

Why the market cheered the confusionThe stock reaction is the tell. Meta shares rose about 8.8% on the report, while a chunk of the chip complex sold off the same day. Micron dropped 10.6%. AMD fell nearly 7%. Even Nvidia slipped.

Meta's plan was probably a catalyst rather than the whole cause; semiconductors had run up hard, and doubts about whether AI spending could hold this pace were already in the air. But the split is hard to unsee. Investors paid up for the company that found a fresh way to earn money off its infrastructure, and stepped back from the companies whose growth assumes hyperscalers keep buying hardware forever. For most of this boom, the market rewarded whoever built the most. That afternoon offered an early sign that investors may be starting to grade something harder: what the buildout actually returns.

The number every board is about to get asked forHaving sat through enough capital-allocation reviews to recognize the pattern, I hear “we can always sell the excess” differently. It doesn’t sound like confidence. It sounds like management doesn’t want to say how much of the capacity it actually expects to use.

Every company in this race can quote its inputs: GPUs bought, gigawatts planned, dollars committed. What public disclosures rarely include is the one figure that would settle it: how much of that capacity is doing real work, rather than sitting warm and depreciating. Meta may have a strong answer, and it’s plainly still expanding rather than retreating, which is exactly why the resale plan is worth watching. It hints that owning the most compute is no longer the whole game. The gear has to be used, priced, and measured against a result.

Resale is a thin safety net anyway. AI hardware can lose value quickly, each new chip generation raises the bar, and specialized clouds already compete hard on price, so capacity that looks scarce today can cheapen the moment a few sellers crowd in. A 5-gigawatt buildout still depends on transformers, transmission lines and other grid hardware, and those physical constraints don’t care how the compute eventually gets billed.

What executives should do about itThe buildout wasn’t necessarily a mistake. Demand may grow into it. But the metric the market rewards is shifting under everyone’s feet. Phase one measured ambition by how much you would spend. Phase two measures how well you use it. Before the next infrastructure check clears, boards and CFOs should ask three plain questions: what share of the AI compute we already own is in productive use, what business result it produces, and who owns moving that number. If nobody can answer, you don’t have an infrastructure strategy. You have a very expensive warehouse.

In the latest trading session, American Airlines (AAL - Free Report) closed at $16.31, marking a -3.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.

The world's largest airline's shares have seen an increase of 13.15% over the last month, surpassing the Transportation sector's gain of 3.77% and the S&P 500's gain of 4.28%.

Market participants will be closely following the financial results of American Airlines in its upcoming release. The company plans to announce its earnings on July 23, 2026. In that report, analysts expect American Airlines to post earnings of $0.05 per share. This would mark a year-over-year decline of 94.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.7 billion, up 16.02% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.49 per share and a revenue of $62.17 billion, signifying shifts of +36.11% and +13.79%, respectively, from the last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for American Airlines. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 792.54% increase. Right now, American Airlines possesses a Zacks Rank of #3 (Hold).

Looking at valuation, American Airlines is presently trading at a Forward P/E ratio of 34.58. This signifies a premium in comparison to the average Forward P/E of 11.27 for its industry.

The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Jito DAO just put its money where its tokenomics are. The protocol has introduced JIP-38, a governance proposal that would channel 100% of Jito’s 80% revenue share from its upcoming JTX Trade platform directly into automated buybacks and burns of the JTO token, with a minimum commitment of one year.

What JIP-38 actually does The mechanics are straightforward, even if the implications are not. JTX Trade, Jito Labs’ forthcoming self-custodial trading terminal built on Solana, will generate trading fees. Under the current structure, Jito DAO receives an 80% cut of those fees.

JIP-38 proposes taking that entire 80% share and routing it into a programmatic mechanism called a Rev Splitter. The Rev Splitter would automatically purchase JTO tokens on the open market and then burn them, permanently removing them from circulation.

In English: every dollar of fee revenue Jito earns from JTX Trade gets used to buy JTO and destroy it. No treasury allocation debates, no discretionary spending. Just automated supply reduction, running for at least one year through Q4 2027.

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The on-chain nature of the Rev Splitter means anyone can verify the buybacks in real time.

JTX Trade and Jito’s product evolution To understand why JIP-38 matters, you need to understand what JTX Trade represents for Jito’s broader strategy. The protocol built its reputation on Solana infrastructure: the Jito Block Engine handles MEV (maximal extractable value) optimization, and JitoSOL is one of the most widely adopted liquid staking tokens on the network, used by entities as large as Coinbase.

JTX Trade is a self-custodial trading terminal designed for what Jito describes as “pro-retail” users, essentially experienced individual traders who want institutional-grade tools without giving up custody of their funds. The platform was announced in May 2026, with a launch window targeting July 2026.

Initially, JTX Trade will focus on spot trading. The roadmap extends into perpetual futures and even prediction markets.

The buyback playbook in DeFi JIP-38 didn’t emerge in a vacuum. Jito’s community has been debating fee allocation strategies for months. A previous proposal, JIP-24, also centered on routing fees toward buybacks, suggesting this is a conversation the DAO has been iterating on rather than a sudden decision.

By locking in the policy for at least one year, Jito is essentially telling the market: we believe JTX Trade will generate enough fees to make this worthwhile, and we’re willing to stake our treasury allocation on that conviction.

What this means for JTO holders and the broader market For current JTO holders, if JTX Trade generates substantial trading volume, the automated buybacks create persistent buying pressure on JTO while simultaneously removing tokens from circulation.

There’s also a governance dimension worth watching. JIP-38 positions Jito as one of the most explicitly “shareholder-friendly” DAOs in crypto. By making every fee dollar traceable and every buyback verifiable on-chain, the protocol is creating a level of financial transparency that most traditional companies would struggle to match.

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