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BioLargo's newly formed subsidiary, BioLargo CPG, will bring to consumers the authentic, independently safety-tested CupriDyne® technology under its own brand following the marketing success of the original Pooph products that generated more than $125 million in pet-care sales while under license from BioLargo.

WESTMINSTER, CA / ACCESS Newswire / July 13, 2026 / BioLargo, Inc. (OTCQX:BLGO) today announced that it is preparing to relaunch CupriDyne®-based consumer pet products under a yet-to-be-announced brand. Targeting pets first, the new consumer products subsidiary will eventually expand into household odor and cleaning products. Formed to fill the gap left by Pooph's ongoing withdrawal from the market, BioLargo will sell direct to consumers and through online marketplaces such as Amazon, leveraging a "digital-first" strategy that allows for hyper-specific audience targeting, real-time performance tracking, and flexible budgets, rather than depending on expensive television campaigns.

CupriDyne-based pet products generated over $125 million in sales while under license and marketed under the Pooph brand. Unfortunately, a series of business decisions by Pooph's management later culminated in its abandonment of CupriDyne-formulated products, the foreclosure of their assets by their lender, board and CEO resignations, and what appears to be the cessation of business operations. BioLargo always owned the CupriDyne technology and had to revoke Pooph's license. Now, the ownership of the Pooph brand is embroiled in litigation. "As a result, we have an opportunity to leverage the prior marketing success by introducing our own brand" said Joseph Provenzano, who will lead the new BioLargo consumer products subsidiary as CEO.

BioLargo's launch brings the CupriDyne® technology and BioLargo's original products back to consumers who loved them. According to Grand View Research1, the U.S. pet odor control and clean-up products market was valued at approximately $6.47 billion in 2023 and is projected to reach approximately $8.87 billion by 2030. BioLargo's initial launch into pet odor control is part of a much larger home and pet cleaning opportunity. The company views pet care as a proven, well-defined category where the difference between masking and eliminating odors is immediately obvious to consumers. Unlike the Pooph brand, BioLargo's new brand will not be limited to pets, and will use the pet product launch to anchor a broader expansion of CupriDyne products across the home.

BioLargo has assembled a team of branding, marketing, creative, and channel-sales experts with proven track records building and growing consumer brands nationally in the pet and household categories. It plans to release additional information, including the product line, the brand name, and key team members, as the product nears its formal launch.

"It will be great to get back into the pet odor control and consumer products business", said Dennis Calvert, BioLargo CEO. "We have seen what can be done, and this time we will own the brand and control the marketing and distribution."

About BioLargo, Inc.

BioLargo, Inc. (OTCQX:BLGO) is a cleantech and life sciences innovator and engineering services solution provider. Our core products address PFAS contamination, achieve advanced water and wastewater treatment, control odor and VOCs, improve air quality, enable energy-efficiency and safe on-site energy storage, and control infections and infectious disease. Our approach is to invent or acquire novel technologies, develop them into product offerings, and extend their commercial reach through licensing and channel partnerships to maximize their impact. See our website at www.BioLargo.com.

CONTACT:

Investor Relations
Matt Kreps
Darrow Associates, Inc.
214-597-8200
[email protected]

Dennis P. Calvert
President and CEO, BioLargo, Inc.
888-400-2863
[email protected]

Safe Harbor Act

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about BioLargo's (the "Company") expectations regarding anticipated revenue; and plans for future operations. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the dependency of the Company on the performance of distributors of the Company's products. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

1 Grand View Research (2004), U.S. Pet Odor Control & Clean-up Products Market(2024 - 2030) https://www.grandviewresearch.com/industry-analysis/us-pet-odor-control-clean-up-products-market-report

SOURCE: BioLargo, Inc

NEW YORK, July 13, 2026 (GLOBE NEWSWIRE) -- Freedom Holding Corp. (Nasdaq: FRHC), an international financial technology group, today announced that aggregate gross proceeds from its offering of ordinary shares were US$300 million. In the offering, the company sold 2,374,356 ordinary shares, at a price of approximately US$126.35 per share.

Freedom Holding Corp. plans to use the proceeds to support its continued expansion and international investment program.

“The proceeds from this offering will support the development of our ecosystem in international markets,” said Timur Turlov, founder and chief executive officer of Freedom Holding Corp. “I believe the ecosystem our team has built in Kazakhstan can be competitive not only in these markets, but also in the United States, where we intend to introduce it in due course,” he added.

Freedom is developing a unified digital ecosystem that brings together banking, brokerage, insurance, and lifestyle services. At the core of this model is the Freedom SuperApp, which provides access to financial products, payments, insurance, investments, ticketing, travel, and e-commerce services.

International Expansion

International growth is a key element of Freedom’s strategy. The company plans to develop digital financial services in Europe by drawing on its experience in building an integrated financial ecosystem in Kazakhstan.

Earlier in June 2026, Freedom Holding Corp. applied for a banking license in France. The company has also stated that it aims to attract 50 million new clients in Europe.

Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom, recently received approval from Türkiye’s Banking Regulation and Supervision Agency to acquire a 99.32% stake in Turkish Bank A.Ş. The approval marks a key regulatory step toward completing the transaction. Upon completion, Turkish Bank would provide Freedom with an established banking platform from which to develop financial services in the country.

In November 2025, Freedom Holding Corp. received approval to open a bank in Georgia, further expanding the geographic reach of its financial ecosystem.

The company views Kazakhstan as the foundation for developing and refining its digital model for international markets. In 2025, Freedom’s ecosystem-building case was included in the MBA program at Stanford Graduate School of Business. The case became part of the school’s educational library and was prepared for use by students, faculty, and participants in international business programs.

Business and Financial Performance

As of March 31, 2026, Freedom’s ecosystem served more than 14 million customers across its banking, brokerage, insurance, lifestyle, and other business lines. The Freedom SuperApp had more than 5.2 million registered users.

The number of brokerage clients increased by 26%, from 683,000 to 858,000, while banking clients grew by approximately 100%, from 2.52 million to 5.03 million. The company’s other services segment had 1.105 million clients as of March 31, 2026.

For the fiscal year ended March 31, 2026, Freedom Holding Corp.’s revenue increased to US$2.19 billion, compared with US$2.0 billion a year earlier. Net income rose to US$153.3 million from US$76.2 million in the previous fiscal year. Basic earnings per share were US$2.56, and diluted earnings per share were US$2.51.

The company’s total assets reached US$13.16 billion as of March 31, 2026, while shareholders’ equity amounted to US$1.49 billion.

In June 2026, S&P Global Ratings upgraded the ratings of JSC Freedom Finance, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and JSC Freedom Bank Kazakhstan to ‘BB-’ with a stable outlook. Freedom Holding Corp.’s issuer credit rating was affirmed at ‘B-’.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company’s principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata.

Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in Russell 3000 Index.

Contact

Head of Public Relations
Natalia Kharlashina
Freedom Holding Corp.
[email protected]
+77013641454

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/689175a0-3261-419d-9add-54b7426fd415

Regulatory recognition in the United States and Europe supports the development of NB4168, a novel small molecule candidate for a rare pediatric disease with no approved treatments

LOS ANGELES--(BUSINESS WIRE)--Niagen Bioscience, Inc. (NASDAQ: NAGE), the global authority on NAD+ (nicotinamide adenine dinucleotide) with a focus on the science of healthy aging, today announced that the U.S. Food & Drug Administration (FDA) granted Rare Pediatric Disease (RPD) Designation for its proprietary lead small molecule drug candidate NB4168 for the treatment of Ataxia Telangiectasia (A-T). NB4168 is an oral small molecule therapy engineered to deliver substantially greater nicotinamide riboside (NR) exposure than conventional NR while maintaining a differentiated pharmacokinetic and safety profile. In addition, the European Medicines Agency (EMA) has granted Orphan Medicinal Product Designation (OMPD) to NB4168 for the treatment of A-T, providing regulatory recognition in the European Union and further supporting the Company's plans to advance the program globally.

Niagen Bioscience Receives Exclusive U.S. FDA Rare Pediatric Disease (RPD) Designation and European Medicines Agency Orphan Medicinal Product Designation (OMPD) for NB4168 for the Treatment of Ataxia Telangiectasia (A-T)

Share The FDA granted RPD Designation based on its determination that A-T is a serious and life-threatening disease that primarily affects individuals from birth through adolescence and meets the statutory definition of a rare disease. The EMA's Committee for Orphan Medicinal Products similarly concluded that NB4168 met the criteria for orphan designation for the treatment of A-T. Together, these regulatory designations recognize the significant unmet medical need in A-T and provide development incentives intended to support and accelerate the advancement of promising therapies for rare diseases.

NB4168 is the first investigational therapeutic candidate to emerge from Niagen Bioscience's recently announced wholly owned subsidiary focused on developing therapies for rare genetic diseases and age-related disorders, NAD Pharmaceuticals Corp. NB4168 is designed to have significantly higher bioavailability and increase NAD+, a coenzyme essential for DNA repair, mitochondrial function, cellular energy production, and stress responses—biological pathways disrupted in A-T. As A-T is categorized as a rare genetic premature aging disease, NB4168 may translate to other age-related diseases.

“Receiving RPD Designation from the U.S. FDA and OMPD from the EMA represents meaningful regulatory validation of NB4168 and our strategy to develop therapies for patients with serious rare diseases,” said Rob Fried, CEO of Niagen Bioscience. “These milestones strengthen our path toward clinical development and reinforce the opportunity to extend our leadership in NAD+ science into regulated medicines.”

About Ataxia Telangiectasia (A-T)

A-T is a rare genetic disease caused by mutations in the ATM gene. The disease typically presents in early childhood and is characterized by progressive loss of motor coordination, impaired immune function, increased susceptibility to infections, pulmonary complications, a substantially elevated risk of cancer, and premature aging. Children living with A-T often experience worsening neurological disability over time, with many requiring wheelchair assistance as the disease progresses. There are currently no FDA-approved therapies for A-T, and treatment is largely limited to supportive care. A-T impacts roughly 1 in 40,000 people in the U.S. (Riboldi et al., 2023; Teive et al., 2015) and 1 in 150,000 people in Europe (Bhatt et al., 2015).

About the U.S. FDA RPD and EMA OMPD

The FDA's RPD Designation is intended to encourage the development of therapies for serious and life-threatening diseases that primarily affect children. The designation provides certain regulatory and development incentives intended to support the advancement of promising therapies for rare pediatric conditions.

The EMA's OMPD is granted to therapies intended to diagnose, prevent, or treat life-threatening or chronically debilitating rare diseases affecting fewer than five in 10,000 people in the European Union. Orphan designation provides access to regulatory support and other development incentives designed to facilitate treatment development for rare diseases.

About NB4168

NB4168 is a distinct, proprietary small molecule designed for oral pharmaceutical development. It is not commercially available as a supplement or approved drug and has robust coverage by Niagen Bioscience's patent portfolio, including a composition-of-matter patent. After oral administration, NB4168 is designed to deliver significantly increased doses of NR to the bloodstream. NR enters cells directly, where it is converted through the nicotinamide riboside kinase pathway into NAD+. Because NAD+ supports DNA repair, mitochondrial function and cellular resilience, increasing intracellular NAD+ may represent a novel therapeutic approach for rare genetic diseases such as A-T in which these biological pathways are impaired.

The compound was designed to build upon Niagen Bioscience's extensive expertise in NR and NAD+ biology. The Company is currently advancing preclinical development activities and plans to submit an Investigational New Drug (IND) application to the FDA in anticipation of initiating human clinical studies, representing another step in Niagen Bioscience's strategy to translate decades of NAD+ science into proprietary medicines for serious rare genetic diseases.

“A-T is characterized by defects in DNA damage repair, mitochondrial dysfunction and chronic cellular stress, all biological processes that rely on adequate NAD+ availability,” said Vilhelm Bohr, M.D., Ph.D., D.Sc., formerly at the National Institute on Aging, NIH, and currently a Professor (AFL) in Molecular Aging at the University of Copenhagen. “The absence of effective treatment options underscores the urgent need for new therapeutic approaches. It is encouraging to see scientific advances in NAD+ biology translated into investigational medicines such as NB4168, as this intervention has implications for similar accelerated aging diseases.”

Niagen Bioscience, Inc. is a publicly traded bioscience company focused on NAD+ science and healthy aging research. The Company's product portfolio includes its flagship patented NR ingredient, Niagen®, Tru Niagen®, Niagen™ Plus and a pharmaceutical development effort focused on proprietary NAD+ precursors. Niagen Bioscience maintains a portfolio of over 50 patents protecting NR and other NAD+ precursors.

For additional information on the Pharmaceutical Program for rare genetic diseases and age-related disorders and NB4168, visit www.niagenbioscience.com/nad-pharmaceuticals.

About Niagen Bioscience

Niagen Bioscience, Inc. (NASDAQ: NAGE) is the global authority in NAD+ (nicotinamide adenine dinucleotide) science and healthy-aging research. As a trusted pioneer of NAD+ discoveries, Niagen Bioscience™ is dedicated to advancing healthspan through precision science and innovative NAD+-boosting solutions.

The Niagen Bioscience team, composed of world-renowned scientists, works with independent investigators from esteemed universities and research institutions around the globe to uncover the full potential of NAD+. A vital coenzyme found in every cell of the human body, NAD+ declines with age and exposure to everyday lifestyle stressors. NAD+ depletion is a key contributor to age-related changes in health and vitality.

Distinguished by state-of-the-art laboratories, rigorous scientific and quality protocols, and collaborations with leading research institutions worldwide, Niagen Bioscience sets the gold standard for research, quality, and innovation. There’s a better way to age.

At the heart of its clinically proven product portfolio is Niagen® (patented nicotinamide riboside, or NR), the most efficient, well-researched, and high-quality NAD+ booster available. Niagen powers the Company’s consumer supplement, Tru Niagen®, the number one NAD+ boosting oral supplement in the United States† (available at www.truniagen.com), and Niagen™ Plus, featuring pharmaceutical-grade intravenous (IV) and injectable Niagen products (www.niagenplus.com). Pharmaceutical-grade Niagen IV and injections are compounded and distributed by U.S. FDA-registered 503B outsourcing facilities and are available exclusively at clinics with a prescription. NAD Pharmaceuticals Corp., the Company’s wholly owned subsidiary focused on developing therapies for rare genetic diseases and age-related disorders, is conducting research on NB4168, a differentiated molecule.

Niagen Bioscience’s robust patent portfolio protects NR and other NAD+ precursors. Niagen Bioscience maintains a website at www.niagenbioscience.com, where copies of press releases, news, and financial information are regularly published.

†Based on revenue per largest U.S. e-commerce marketplace (Jan. 2025 – Dec. 2025)

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects,” “anticipates,” “intends” “estimates,” “plans,” “potential,” “possible,” “probable,” “believes,” “seeks,” “may,” “will,” “should,” “could,” “predicts,” “projects,” “continue,” “would” or the negative of such terms or other similar expressions.

Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described. These risks and uncertainties include, but are not limited to, statements regarding Niagen Bioscience's NB4168 pharmaceutical development program; planned preclinical, IND-enabling and clinical development activities; the potential timing of an IND submission or first-in-human study; the potential bioavailability, exposure, safety, tolerability, efficacy, pharmacodynamic or clinical profile of NB4168; and the Company's ability to translate its NAD+ platform into pharmaceutical products; inflationary conditions and adverse economic conditions; our history of operating losses; the growth and profitability of our product sales; our ability to maintain and grow sales, marketing and distribution capabilities; changing consumer perceptions of our products; our reliance on a single or limited number of third-party suppliers; risks of conducting business in China; including unanticipated developments in and risks related to the Company’s ability to secure adequate quantities of pharmaceutical-grade Niagen in a timely manner; the Company’s ability to obtain appropriate contracts and arrangements with U.S. FDA-registered 503B outsourcing facilities required to compound and distribute pharmaceutical-grade Niagen to clinics; the Company’s ability to remain on the U.S. FDA Bulk Drug Substances Nominated for Use in Compounding Under Section 503B of the Federal Food, Drug, and Cosmetic Act Category 1 list; the Company’s ability to maintain and enforce the Company’s existing intellectual property and obtain new patents; whether the potential benefits of NRC can be further supported; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials; determinations made by the FDA and other governmental authorities, including with respect to products seeking to compete in our market; mislabeling or other misleading marketing practices by competitors; economic and market instability, including as a result of tariffs or trade conflicts; and the risks and uncertainties associated with our business and financial condition in general, described in our filings with the Securities and Exchange Commission (SEC), including, without limitation, our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q as filed with the SEC.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and Niagen Bioscience undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

Midland, Texas-based AST SpaceMobile NASDAQ: ASTS has been a battleground for bulls and bears this year.

Among space stocks, it has been one of the most volatile, seeing its fair share of ups and downs throughout 2026 including a 59% run-up to its all-time high on May 28 and a series of double-digit peaks and troughs mixed in.

That trend has continued over the past month. Shares pushed up more than 35% from their one-month low June 25 through June 30. But since the calendar turned to July, the stock has given back nearly half of those gains, with ASTS now down more than 17% from that recent high.

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AST SpaceMobile, Inc. (ASTS) Price Chart for Monday, July, 13, 2026

With its beta now up to 2.69, the SpaceX NASDAQ: SPCX rival and space-based direct-to-device (D2D) cellular broadband provider is likely positioned for more of the same as. But a combination of potential catalysts and inhibitors will ultimately decide whether AST SpaceMobile is able to break back into the green during the second half of the year.

Tailwinds: Strategic Partnerships, Bundled BlueBird Launches, and Increased Operating EfficiencyAST SpaceMobile Today

$70.22 -3.10 (-4.23%)

As of 10:46 AM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$36.08▼

$133.86Price Target$85.09

AST SpaceMobile’s bull case remains largely intact in large part due to maintaining its first-mover advantage in the space-based D2D market.

That has resulted in a myriad of formal strategic agreements that have cemented the company’s status.

Most recently, ASTS received a bump from Japan's $912 million satellite communications push. That put AST SpaceMobile’s existing partnership with Tokyo-based Rakuten OTCMKTS: RKUNY back into the spotlight while raising hopes for a major D2D rollout. The two companies are forming a joint venture that is targeting regulatory approval for D2D operations in Japan, with initial commercial services expected to begin later in 2026.

The company also has agreements with nearly 60 global mobile network providers, totaling more than three billion subscribers, and strategic partnerships in place with AT&T NYSE: T, Verizon NYSE: VZ, Vodafone NASDAQ: VOD, Rakuten, Alphabet NASDAQ: GOOGL, and real estate investment trust American Tower NYSE: AMT, among others. Over the long term, those relationships should continue to drive AST SpaceMobile's top-line growth, translating into strong earnings for patient investors.

An accelerated launch schedule for the company’s low Earth orbit (LEO) BlueBird satellites—the largest commercial arrays currently in operation—serves as another catalyst. A simultaneous launch of the next three, including BlueBirds 11, 12, and 13, is scheduled for early August from Cape Canaveral, Florida, aboard a Falcon 9 rocket.

The bundled launches should go a long way in AST SpaceMobile meeting its 2026 launch target of having 45 BlueBirds in LEO. According to president Scott Wisniewski, the company is in the process of producing and assembling satellites through BlueBird 37.

Headwinds: Mounting Costs, Launch Targets, Earnings MissesScaling at the pace and size that the company is comes at a steep cost. AST SpaceMobile posted a net loss of $342 million in 2025, which was nearly 969% higher than its net loss in 2022 after its first full year of operation as a publicly traded company. However, in Q1, that loss significantly accelerated to $191 million.

As the company ramps up its launch production and launch schedule, analysts are forecasting a full-year cash burn rate between $1.5 billion and $1.8 billion.

Another potential headwind is AST SpaceMobile’s lofty BlueBird launch target. While that also serves as a near-term headwind, longer term, it could present issues. Unforeseen launch complications and mishaps—like the Blue Origin deployment of BlueBird 7 at an insufficient orbit back in April—could adversely impact AST SpaceMobile’s ability to meet its year-end launch target. BlueBird 7 was subsequently deorbited, yet the company has maintained that it can reach its goal of having 45 LEO satellites deployed by the end of 2026.

Meanwhile, sentiment has been negatively impacted by a series of consecutive earnings per share (EPS) misses. AST SpaceMobile remains unprofitable, but its negative EPS has missed the analyst mark for five straight quarters, with only two beats in the past 11 quarters. This has played a major role in outflows driven by impatient investors who have been waiting for the stock—which had its IPO in April 2021—to finally turn a corner.

Where Wall Street StandsAST SpaceMobile Stock Forecast Today12-Month Stock Price Forecast:
$85.09
21.63% Upside

Reduce
Based on 10 Analyst Ratings

Current Price$69.95High Forecast$108.00Average Forecast$85.09Low Forecast$45.60AST SpaceMobile Stock Forecast Details

The smart money appears to be erring on the side of caution when it comes to ASTS.

Sentiment is tepid, with just one of the 10 analysts covering the stock assigning it a Buy rating.

Overall, it holds a consensus Reduce rating despite a 12-month price target implying about 16% potential upside from current levels.

In the past year, insider selling has muted insider buying by a ratio of more than $451 million to just over $187,000.

But institutional investors are evidently taking a longer-term approach, with buyers injecting $2.34 billion over the past 12 months compared to outflows of just over $487 million.

Still, as previously mentioned, more volatility is likely ahead, as reflected by current short interest of 21% of the float, which equates to $5.45 billion worth of shares.

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A group of state attorneys general is expected to file a lawsuit as soon as Monday challenging Paramount Skydance's proposed acquisition of Warner Bros. Discovery, CNBC's David Faber reported.

The lawsuit, which will be brought by a group including California Attorney General Rob Bonta, is expected to try to block the merger on antitrust grounds, Faber reported.

The deal would combine two storied film studios — Paramount and Warner Bros. — as well as streaming platforms Paramount+ and HBO Max. Paramount CEO David Ellison has previously said the streaming services would become one following the merger.

It would also mean the formation of the largest portfolio of TV networks in the U.S., bringing together Paramount's broadcast network CBS and pay TV channels like MTV and BET with WBD's CNN, TNT and others.

The merger won approval from WBD shareholders in April, and Ellison said in a recent earnings call that it was on track to close by September.

The deal came under scrutiny from lawmakers in both the U.S. and Europe, including related to foreign funding that was part of Paramount's offer. In mid-June, the U.S. Department of Justice signed off on the tie-up, clearing it of federal antitrust concerns.

"The Division has completed its analysis of the proposed merger of Paramount and Warner Bros. and determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers," the department said in its determination.

The merger has also won approval from several global jurisdictions as it moves toward a potential close.

However, the the European Union is still reviewing the deal for approval , with a new provisional deadline set for July 22. The European Commission said in a public filing this month that Paramount has submitted concessions in a bid to smooth over concerns regarding the deal.

Hollywood has previously expressed concerns about the combination, citing the likelihood for fewer film releases and the potential for job losses in the industry. Ellison has promised that once combined the film studios would put out a slate of 30 movies per year and has said he's committed to protecting jobs.

Ellison first set his sights on WBD last September. Just weeks after Paramount and Ellison's Skydance completed its merger, the company made its initial run for WBD, resulting in several bids and a formal sale process.

WBD ultimately signed a deal to sell its film studio and streaming assets to Netflix. However, Paramount launched a hostile takeover offer and subsequently amended its bid. Netflix ditched its deal, and Paramount walked away with an agreement to buy the entirety of WBD for $31 per share.

Apple's 15% rebound reflects investor preference for stronger cash flow over AI infrastructure spending. Summary

Apple outperforms AI peers as investors reassess AI spending returns.

Investors have moved back into Apple AAPL , the iPhone maker, as growing concerns about returns from artificial intelligence spending weigh on chipmakers and cloud-computing companies. Apple shares have climbed 15% since reaching a low on June 25, adding nearly $600 billion in market value and returning to record territory. Over the same period, the Philadelphia Stock Exchange Semiconductor Index declined 7%, while the S&P 500 advanced 3% and the Nasdaq 100 gained 1.3%. Investors increasingly appear to view Apple's decision to avoid the data-center spending race as an advantage, particularly as the market questions how much return large technology companies may generate from their AI investments. Mark Bronzo, chief investment strategist at Rye Strategic Partners, said Apple is benefiting from being outside the pressure facing the broader AI trade, where concerns have emerged over hyperscaler spending and semiconductor valuations.

Apple's 16% gain in 2026 has made it the strongest performer among the Magnificent Seven technology companies, even though the semiconductor index remains 83% higher this year. Alphabet GOOGL , a technology company investing heavily in cloud computing and AI, and Amazon AMZN , a technology company operating a major cloud-computing business, are both more than 10% below their May peaks, while Microsoft MSFT , a technology company with a large cloud-computing operation, has fallen 20% in 2026. Apple has also faced pressure from rising memory-chip prices, which could affect profit margins and prompted the company to increase prices across Macs, iPads and home devices on June 25. JPMorgan analyst Samik Chatterjee suggested that Apple's past pricing increases have had limited effects on longer-term sales volumes, supporting the view that its customers may be more willing than other hardware buyers to accept higher prices.

Investors may also see a potential catalyst in Apple's foldable iPhone, which is expected to be released in September and carry a premium price. Apple reportedly asked suppliers to prepare production for approximately 10 million foldable iPhones this year, above an earlier projection of seven million to eight million units. The company's fiscal 2026 revenue is expected to increase nearly 15%, representing its fastest annual growth since 2021, while net income is projected to rise 17%. Apple's free cash flow is forecast to reach a record $140 billion this year, more than 40% above 2025, while Alphabet's free cash flow is expected to decline about 67% to $21 billion. However, Apple trades at 33 times projected earnings for the next 12 months, compared with its 10-year average of 23 times, and only 61% of analysts tracked by Bloomberg recommend buying the stock, suggesting investors are paying a substantial valuation premium for its cash generation, more conservative spending approach and possible new iPhone upgrade cycle.

A proposed bill that would allow autonomous vehicles to operate in Washington, D.C. has become a test case for Uber’s broader robotaxi strategy. Instead of simply partnering with, and investing in, robotaxi developers, Uber is also trying to shape the rules that govern them, an effort that puts it in direct opposition with its business partner, Waymo.

Uber, which opposes the bill, argues the proposed rule would displace for-hire human drivers and hand Waymo a de facto monopoly. It has lobbied instead for a system that would require robotaxis to operate on a ride-hailing network that also uses human drivers, according to public records viewed by TechCrunch and interviews with industry and company sources. 

“We have already seen in other jurisdictions how a flawed, first-party only regulatory approach can disrupt a city,” Javi Correoso, who leads U.S. policy and federal affairs for Uber, said in May during a D.C. Council roundtable on a separate, existing statute regulating for-hire drivers. Correoso argued at the time that robotaxis create congestion by idling or cruising empty, cannot provide the kind of physical assistance to older or disabled adults that human drivers can, and cited data that states one AV displaces roughly four drivers.

When asked about the hybrid model, Correoso shared Uber’s regulatory vision. 

“Hybrid model means that consumers should have the ability to access both. If a consumer is on the app, they should be able to choose,” he said, according to a publicly available recording and transcript. “I would go a step further: I think it should be part of the regulatory framework for the industry. There should be a requirement for consumers to be able to take an Uber that’s driven by a human.”

Alphabet-owned Waymo contends the bill, which it backs, will allow for the safe deployment of autonomous vehicles while supporting public transit, equitable access, and workers without restricting companies like Uber. 

The two companies will pitch their positions on Monday during a day-long hearing. The bill’s passage is not imminent — many parties told TechCrunch they hope legislation is approved before the end of the year, and before Washington, D.C. Mayor Muriel Bowser leaves office in January. Still, the arguments and lobbying efforts surrounding the bill reflect a broader debate that stretches beyond Washington, D.C.

The proposed AV bill The bill, which was introduced by Councilmember Charles Allen in May, would update the existing Autonomous Vehicle Act of 2012 to allow for driverless testing and commercial driverless operations within the district. Today, companies like Waymo and Zoox can test autonomous vehicles, but only with a human safety operator behind the wheel.

The proposed bill would give the District Department of Transportation (DDOT) the authority to issue driverless testing and deployment permits to AV developers that meet certain requirements. Such requirements include holding a minimum of $5 million in liability insurance, and agreeing to report crash data within either eight hours or 72 hours, depending on whether the vehicle is part of a commercial fleet or a privately owned AV (which doesn’t yet exist in the market).

The bill would also charge robotaxi operators a $0.15 per mile tax, a proposal that robotaxi advocates have argued is too expensive. Revenue from the “vehicles miles traveled” (VMT) tax would be split, with 50% going toward public transit and the remaining used to support education and workforce development for rideshare and taxi drivers at risk of losing their jobs to robot cars.

Uber and Waymo are not the only parties interested in the bill. Numerous organizations and companies, including representatives from Tesla, Lyft, the Teamsters and Service Employees International Union labor unions, disability rights and accessibility advocacy groups, local business and industry groups, highway safety proponents, government officials, and think tanks are all scheduled to speak during Monday’s hearing. 

The bill has even prompted an anti-robotaxi campaign, launched by a New York-based organization called Coalition for Accountability and Road Safety, which is canvassing voters and posting on social media.

It’s unclear who is funding the organization, which is registered to an employee of Pitta Bishop & Del Giorno LLC, a New York lobbying and government affairs outfit affiliated with labor and employment law firm Pitta LLP. According to publicly available lobbying documents listed by the city, Pitta has been retained over the past year by several labor unions and the New York Black Car Operators’ Injury Compensation Fund. 

The stakes are high for all robotaxi developers, human drivers, and the ride-hailing and taxi companies that employ them in D.C. It’s arguably elevated for Uber and Waymo too, given their considerable market positions. Uber is the largest ride-hailing and delivery network in the United States, and Waymo is the largest robotaxi operator, providing more than 500,000 rides each week across 11 cities. 

If Uber is successful and its hybrid network idea is adopted in D.C. — or elsewhere — it would leave AV developers like Waymo with two choices: put their robotaxis on ride-hailing apps like Uber’s, or employ human drivers who provide ride-hailing services alongside the robot cars that have taken years and hundreds of millions of dollars to develop.

If Waymo and other supporters of the D.C. bill are successful, Uber argues it will be pushed out altogether.

Protect and expand Image Credits:Uber/Lucid/Nuro The bill is a local policy fight, but it also highlights one prong of Uber’s strategy to protect its leading position in the ride-hailing and delivery market. 

Uber is actively investing in and partnering with autonomous vehicle technology companies — more than 30 globally — while also building AV Labs, a new business unit designed to collect and share real-world driving data with AV developers. The company is hiring dozens of engineers for the division, according to job listings and interviews with sources familiar with the effort. 

While Uber stakes its claim in the AV market, it is also championing protective policies that would require autonomous vehicles to operate alongside human drivers within a single platform — much like the Uber app. 

Uber’s investment and partnership activity has been underway for several years. The company’s push for a hybrid network is recent, first emerging in a white paper published in May. Since then, Uber has ramped up its rhetoric with policymakers, including the D.C. Council roundtable meeting in May to discuss updates to the district’s Vehicle-for-Hire Innovation Amendment Act of 2014. (That law, which regulates ride-hailing and taxi services through the Department of For-Hire Vehicles, is separate from the AV bill, but multiple sources told TechCrunch that the policies overlap.)

Uber submitted a letter to the D.C. Council in June, which TechCrunch has seen, elaborating on Uber’s policy chief Correoso’s earlier comments. The letter stated the hybrid approach would be a single transportation network with traditional drivers that gradually incorporates autonomous vehicles.

“What this means in practice is that if you call an Uber in a market with AVs, you might get matched with an AV or a human driver, depending on the nature of your trip,” the letter reads. 

In D.C., Uber is responding to a bill that would effectively ban hybrid networks altogether, company spokesperson Noah Edwardsen told TechCrunch. 

Waymo disputes that interpretation, and a representative for the company said Waymo does not support efforts to limit AVs to specific types of networks. “We would welcome changes clarifying that different types of networks can operate in the District,” Waymo spokesperson Ethan Teicher wrote in an emailed statement sent to TechCrunch.

More broadly, Edwardsen said Uber has never taken a one-size-fits-all approach to policy, contrasting it to “advocacy from parts of the AV industry today, where proposals have repeatedly failed to address important issues like labor and transportation equity — or that have tried to cynically lock out competitors and create monopolies — making them largely unworkable.”

While numerous industry insiders have criticized aspects of the D.C. bill — notably the VMT tax and proposed cap on robotaxis — some disagree with Uber’s hybrid proposal. 

Greg Rogers, founder and executive director of the nonprofit mobility and tech think tank The Innovation Majority, is scheduled to speak at Monday’s hearing, and he called Uber’s move an attempt at “regulatory capture.”

“Mobility is already a marketplace — people already can make choices on whether to take a bus, or ride a bike, or walk, or take rideshare every day,” Rogers told TechCrunch in an interview. “And any argument that you can improve consumer welfare by forcing certain business models and canceling out others does not improve people’s mobility choices. It does not improve road safety, and what it risks is only further entrenching interests and charging rent on anyone who seeks to operate AVs in the district.”

Uber’s pro-driver, ”let’s compromise” positioning may surprise close followers of the ride-hailing company. The company’s early history was painted by an anti-regulation ethos that sought out loopholes within existing laws, or ignored them altogether.

Uber often opposed union-supported regulations, like AB 5 in California, which would have disrupted its asset-light business model by classifying gig workers as employees. Proposition 22, a 2020 ballot initiative passed by voters and upheld by the California Supreme Court, was backed by Uber, Lyft, and others as a compromise that gave workers access to health insurance and other benefits while maintaining their contractor status.

Those fights, and others like it, have taught Uber that it has to consider human workers, and the power of labor unions that support them, if it wants to play a central role in the robotaxi market, according to sources. Uber’s own chief operating officer Andrew Macdonald struck a similar we-learned-our-lesson tone in a LinkedIn post in May that promoted its white paper.

Macdonald noted that the consequences of the company’s grow-at-all-costs approach led to “regulatory battles and a corporate crisis that damaged trust for years. “

“That experience changed us,” he wrote. “Today, we partner with cities instead of confronting them.”

Uber argues its hybrid network proposal is that compromise — one that allows robotaxis and human drivers to coexist on the same platform while easing labor concerns.

The company is committed to pitching the idea in other cities and states as lawmakers develop new AV laws or update existing ones.

Wired published its own report detailing lobbying efforts in New Jersey and D.C.

Uber’s stance, and its active lobbying, puts it on a collision course with Waymo. 

Frenemies Image Credits:Waymo/Uber Waymo and Uber have squared off over autonomous vehicle technology before.

In 2017, Waymo sued Uber over allegations of trade secret theft. The high-profile trial, in which Waymo accused Uber of using trade secrets downloaded by former Google engineer Anthony Levandowski, delivered memorable testimony and evidence, including phrases like “laser is the sauce.” The trial lasted just five days before Uber agreed to settle, and the two companies stopped sparring, at least publicly.

Six years later, with Uber’s in-house AV development program sold off to Aurora, the former courtroom rivals teamed up. Waymo agreed to put its self-driving vehicles on Uber’s app in Phoenix in 2023. That partnership, which quietly ended in May, has been described as limited and as a “pilot.” Waymo also operates its own stand-alone app in Phoenix, its first robotaxi market.

The relationship seemed to solidify by March 2025, when company executives — grasping mugs of prickly pear margaritas and plates of Terry Black’s barbecue at a private party — celebrated the launch of Waymo robotaxis on the Uber app in Austin during the annual music, film, and tech fest, SXSW. The partnership soon expanded to Atlanta. In both of those cities, prospective customers cannot hail a robotaxi directly through Waymo’s app, and have to use the Uber app and hope for a match.

In recent months, the relationship has soured — and publicly.

Earlier this year, Uber chief technology officer Praveen Neppalli openly criticized Waymo on X, posting a video and commentary calling out the unsafe and “scary” behavior of a Waymo robotaxi. During an earnings call in May, Uber chief executive Dara Khosrowshahi directed comments toward Waymo without directly naming the company when he expressed support for regulators.

“They’re asking the right questions, which is how are AVs going to interact with — in situations where the power goes out or interacting in school zones or working with firefighters, etc. in the city,” said Khosrowshahi, referring to recent incidents that involved Waymo robotaxis. 

The tension between Waymo and Uber has even gone global, with both companies poised for a looming showdown in London.

As speculation swirls over when Uber and Waymo’s existing partnerships in Austin or Atlanta will implode, both companies are gearing up for a regulatory fight that appears poised to spill into other cities and states.

Uber is betting, and lobbying for, a different future than the one Waymo envisions.

“We think the future of our transportation system will be hybrid,” Uber’s head of AV policy Harry Hartfield said in testimony submitted ahead of Monday’s meeting. “Public policy should be designed around that reality, not around an AV-only future that does not exist.”

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Victoria, Seychelles, July 13th, 2026, Chainwire

MEXC, a pioneer in 0-fee digital asset trading, announced the addition of five Ondo tokenized stock and ETF trading pairs to its spot market, the latest expansion of its ongoing collaboration with Ondo Finance. The new pairs cover the semiconductor, energy and AI infrastructure sectors, expanding the range of tokenized U.S. equities available to users and allowing them to trade these assets using USDT.

The trading pairs include tokenized stocks and ETFs tracking Direxion Daily Semiconductor Bull 3X ETF (SOXLON/USDT), Direxion Daily Semiconductor Bear 3X ETF (SOXSON/USDT), Halliburton (HALON/USDT) and Core Scientific (CORZON/USDT), all now open for trading on MEXC’s spot market.

SK hynix completed its Nasdaq listing on July 10, 2026, raising $26.5 billion in one of the largest U.S. listings this year, with shares initially trading under the ticker SKHYV before switching to SKHY on July 13, 2026. The company is a leading global supplier of high-bandwidth memory (HBM) chips, a component in high demand amid the expansion of AI infrastructure. To meet user demand for trending U.S. stocks, MEXC will add SKHYON/USDT, tracking SK hynix (Nasdaq: SKHY), to the spot market at 13:30 on July 13, 2026 (UTC).

Ondo Finance focuses on bringing traditional financial assets on-chain through compliant infrastructure, allowing users to access assets such as U.S. Treasuries, stocks and ETFs in a blockchain-native format, with each tokenized asset backed by the corresponding underlying security held through regulated custodial brokers. This deepened collaboration with Ondo reflects MEXC’s continued build-out in the tokenized real-world asset space. As a one-stop trading platform, MEXC provides users with diverse access to global markets, offering both Ondo’s tokenized stocks and RealStocks, a product that allows users to hold real share ownership and dividends.

About MEXC

MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.

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This content does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

The Intel logo at the 10th edition of the VivaTech technology startups and innovation fair in Paris, France, June 18, 2026. REUTERS/Gonzalo Fuentes/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesInvestment to add several hundred jobs at Irish operationMajority of investment to be deployed by end-2027LEIXLIP, Ireland, July 13 (Reuters) - Intel (INTC.O), opens new tab has begun a €5 ​billion ($5.7 billion) capital investment to upgrade its Irish campus and expand its ‌European output to meet growing global demand for AI and high-performance computing, the U.S. chipmaker said on Monday.

Intel said the move would upgrade and maximize capacity at its facility in Leixlip outside ​Dublin that produces Intel 3 silicon wafers, which the company says is ​the most advanced semiconductor manufacturing facility of its kind in Europe.

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⁠It will also link the facility to other factories at the campus, Intel's European ​manufacturing base, as well as advance research and development and retrain staff, Naga Chandrasekaran, ​executive vice president of Intel Foundry, said.

Intel is one of the key multinationals in Ireland's foreign investment-focused economy, having already invested €30 billion in the country since 1989, more than half of which ​was spent between 2019 and 2023 on the fabrication facility that doubled the available capacity ​in Ireland.

The leading-edge manufacturing equipment that Intel has begun to install will help deliver Intel ‌Xeon ⁠6 processors and next-generation Intel Xeon built on the group's Intel 3 manufacturing process, the company said.

"The demand for servers, the demand for AI is driving a significant increase in the need for Intel 3 wafers," Chandrasekaran told reporters.

Chandrasekaran said the investment ​would add "several hundred" more ​jobs to the ⁠4,900 people Intel employs in Ireland.

The majority of the investment would be made by the end of 2027 and represents ​about 30% of Intel's $17 billion planned capital expenditure for 2026, he ​added.

Ireland ⁠is hugely reliant on the taxes and jobs of foreign multinationals such as Intel. Foreign-owned firms have almost doubled their Irish workforce in the last decade to make up 11% of ⁠the ​entire labour market.

Irish Prime Minister Micheal Martin said ​Intel's latest investment was a powerful vote of confidence in Ireland and its position as a location for ​advanced manufacturing.

($1 = 0.8750 euros)

Reporting by Padraic Halpin; Editing by Sarah Young and Tomasz Janowski

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

Merck & Co. Inc. (NYSE:MRK) shares are in focus Monday after a wave of analyst activity capped by a new FDA approval for its cancer drug Keytruda.

Merck stock is trading near recent highs. What’s the outlook for MRK shares? Analyst Consensus and Recent Actions The stock carries a Buy rating with an average price target of $133.86. Recent analyst moves include:

Morgan Stanley: Equal-Weight (Raises Target to $113.00) (July 9) RBC Capital: Outperform (Maintains Target to $142.00) (July 8) Wells Fargo: Overweight (Raises Target to $150.00) (July 8) The FDA ApprovalThe week culminated Friday when the U.S. Food and Drug Administration (FDA) approved KEYTRUDA and KEYTRUDA QLEX, Merck’s anti-PD-1 therapies, each in combination with Padcev, as treatment before and after surgery for adults with muscle-invasive bladder cancer.

The approval expands Keytruda’s already dominant position in the immuno-oncology landscape and adds another indication to the drug’s broad label, which already spans multiple cancer types.

Merk Shares Edge HigherMRK Price Action: At the time of publication, Merck shares are trading 0.11% higher at $123.68, according to data from Benzinga Pro.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

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Key Takeaways Micron's AI memory business is benefiting from strong demand, supply shortages and rising HBM pricing.MU forecast fiscal Q4 2026 revenue of about $50B and adjusted EPS of $31, above consensus estimates. Micron plans major U.S. investments through 2035 to expand AI memory capacity and secure silicon supply. Micron Technology Inc. (MU - Free Report) witnessed a meteoric rise in its stock price in the first half of 2026, rallying nearly 340%. On June 24, the company posted blockbuster third-quarter fiscal 2026 earnings results, crushing all estimates. 

As a result, on June 25, shares of MU touched an all-time high of $1,255. Thereafter, the stock has seen a gradual decline and is currently in the bear-market territory plunging 22% from its all-time high. However, the recent softness in the stock price has opened a tremendous opportunity for both short and long-term investors. 

The chart below shows the price performance of MU in the past month.

Image Source: Zacks Investment Research

Excellent Business Opportunity Micron has been benefiting tremendously from the enormous application of AI in day-to-day life, which has pushed up the demand for memory chips. The four major hyperscalers raised their AI capital expenditure budget to $750 billion for 2026. This figure is set to cross $1 trillion next year and is likely to rise further beyond 2027. 

This has resulted in more AI semiconductor sales, implying the need for multiple AI memory chips to operate. Flash memory technologies like DRAM and NAND are used in AI chips, enabling them to perform optimally. 

This has pushed up the demand for AI-enabled memory chips. In their last earnings reports, all four major hyperscalers highlighted a shortage of memory and storage chips, resulting in soaring prices of these products. As a result, MU benefits significantly. 

Micron’s CEO, Sanjay Mehrotra, said, “Our customers are recognizing that supply shortages in memory and storage will take considerable time to improve, even as we expect industry supply to improve gradually in 2028.”

Solid Estimate RevisionsMicron has an expected revenue and earnings growth rate of more than 100% each, for the current year (ending August 2026). The Zacks Consensus Estimate for the current year’s earnings has improved 22.6% over the last 30 days. 

MU has an expected revenue and earnings growth rate of 87.8% and more than 100%, for the next year (ending August 2027). The Zacks Consensus Estimate for next year’s earnings has improved 44.3% over the last 30 days. 

Image Source: Zacks Investment Research

Image Source: Zacks Investment Research

Micron’s gross margin climbed to 84.9% in the third quarter from 74.9% in the prior quarter and 39% in the year-ago period. This proved how high-bandwidth memory (HBM) shortage is helping these high-end memory developers to increase prices in a world of AI-powered data center boom. Likewise, the Zacks Consensus Estimate for 2027 EBITDA margin has shown steady improvement since mid-May.

Image Source: Zacks Investment Research

New Tech Trends to Drive ProspectsThe performance of any AI model depends on memory performance and capacity. MU’s HBM is a highly sought-after product for NVIDIA Corp. (NVDA - Free Report) , Advanced Micro Devices Inc. (AMD - Free Report) and Alphabet Inc. (GOOGL - Free Report) to name a few, for their AI-enabled chipsets.

Micron has meaningful exposure to AI, cloud data centers, industrial IoT and autonomous vehicles, all of which require increasingly advanced memory solutions. As AI adoption accelerates, demand for DRAM and NAND products continues to rise. 

NVIDIA identified Micron as a key HBM supplier for its GeForce RTX 50 Blackwell GPUs, reinforcing its importance within the AI supply chain. Demand for HBM4 is also benefiting from next-generation AI infrastructure deployments, including NVIDIA’s Vera Rubin platform. 

On July 8, Reuters reported that Micron has decided to invest more than $250 billion in the United States through 2035. The company’s original investment plan was $170 billion, which it raised to $200 billion in June. 

Moreover, MU also unveiled its plan to invest $3 billion in GlobalWafers' silicon wafer manufacturing operations in Texas. The two companies plan to enter a 10-year deal to ensure a long-term supply of raw silicon wafer capacity to the AI memory chip behemoth.

Strong Guidance Micron anticipates revenues of $50 billion (+/1 billion) in the fiscal fourth quarter of 2026. Operating expenses on a non-GAAP basis are estimated to be approximately $1.65 billion. Adjusted EPS is anticipated to be $31.00 (+/- $1.00). 

Attractive Valuation Despite a robust rally, the MU stock still looks very attractive. It trades at a forward 12-month price-to-earnings (P/E) multiple of 13.43, which is significantly lower than the industry average of 27.73. This discount adds to the appeal for long-term investors.

MU trades at a price-to-sales (P/S) multiple of 12.41, compared with the industry average of 10. Further, it trades at a price-to-book (P/B) multiple of 11.12, compared with the industry average of 8.40. These two multiples warrant premiums due to the company’s dominant position in the AI HBM and DRAM markets.

Huge Price Upside PotentialThe current Zacks Consensus average price for Micron is based on short-term price targets offered by 33 analysts. The short-term average price target of brokerage firms represents an increase of 52.2% from the last closing price of $979.30. 

The brokerage target price is currently in the range of $2,000-$470. This indicates a maximum upside of 104.2% and a maximum downside of 52%. The risk/reward ratio is highly favorable 1:2. 

Image Source: Zacks Investment Research

What Next for MU?Micron currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

MU has invested heavily in next-generation memory technologies, positioning itself to meet the growing performance and efficiency requirements of AI ecosystems. MU’s position in the AI ecosystem continues to strengthen. 

Micron Technologies represents an opportunity to invest in a company with substantial unrealized potential in the AI revolution. At this stage, it will be prudent to buy MU on every dip. Hold this stock for the long term as the astonishing growth potential of the global AI-powered data centers and MU’s strong guidance and business visibility are likely to generate more value.

Key Takeaways ISRG expands its robotic ecosystem with AI, digital tools and minimally invasive platforms. TER, CDNS, MCHP and FTV are advancing robotics through AI, automation and data center innovation.The picks are set to benefit from rising robotics adoption despite industry dynamics and regulatory risks. Robotics companies are at the forefront of innovation, driving efficiency and productivity across industries such as manufacturing, healthcare and logistics. The global robotics market is poised for significant growth, fueled by technological breakthroughs, and rising demand for automation and advancements in artificial intelligence (AI) and machine learning. 

This potential for high growth promises substantial returns to investors. Also, robotics can address labor shortages and enhance precision in tasks, thereby reducing operational costs and improving quality. This space includes companies that integrate hardware, software and AI to build intelligent machines capable of performing complex tasks autonomously or semi-autonomously.

Pros and Cons of Robotics ApplicationDespite the rapid growth and transformative potential of this space, the investment landscape is not without risks. Robotics technology is still evolving, and companies in this space often face high research and development costs with no guaranteed success. Regulatory challenges, market volatility, concerns about job displacement and data privacy, along with the societal impact of automation add to the uncertainty. 

At this stage, we recommend five robotics stocks for investment in second-half 2026. These are: Intuitive Surgical Inc. (ISRG - Free Report) , Teradyne Inc. (TER - Free Report) , Cadence Design Systems Inc. (CDNS - Free Report) , Microchip Technology Inc. (MCHP - Free Report) and Fortive Corp. (FTV - Free Report) . Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The chart below shows the price performance of our five picks in the past three months.

Image Source: Zacks Investment Research

Intuitive Surgical Inc.Intuitive Surgical is increasingly embedding AI and digital tools into its robotic ecosystem. ISRG operates in the robotic surgery market for soft tissue procedures, where adoption is supported by the shift toward minimally invasive care. The company’s platforms include the da Vinci surgical system and the Ion endoluminal system.

ISRG continues to add digital capabilities that can improve training, workflow and program management for hospitals. These efforts include software and analytics that connect systems, instruments and services and can deepen customer engagement over time.

In the first quarter of 2026, ISRG highlighted expanded adoption of its da Vinci, Ion and digital platforms, which support continued investment in the connected ecosystem. Over time, digital features can differentiate the installed base and support incremental service and software revenues as hospitals focus on standardizing surgical programs.

Intuitive Surgical has an expected revenue and earnings growth rate of 16.5% and 16.7%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.1% over the last 30 days. 

Teradyne Inc.Teradyne benefits from strong AI-related demand that is driving significant investments in cloud AI build-out as customers accelerate the production of a wide range of AI accelerators, networking, memory, and power devices. AI computing is witnessing technological progress, which is bringing rapid transformation to design, process, and packaging technologies. 

Robotics delivered $91 million of first-quarter 2026 revenues, up 32% year over year, and management highlighted a fourth consecutive quarter of sequential growth. The company cited customer engagement across e-commerce, electronics manufacturing, and semiconductor end markets, and noted that AI-related revenues in Robotics increased to 15% of quarterly sales with emerging data center applications. 

TER continues to expect its large e-commerce customer to triple its revenue contribution in 2026 versus 2025, which, if executed, would improve scale and utilization in the Robotics segment. Over time, the use of robots in assisted assembly, test and data center operations could broaden the installed base beyond traditional factory automation deployments.

Teradyne has an expected revenue and earnings growth rate of 42.1% and 81.8%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 1.6% over the last 30 days. 

Cadence Design Systems Inc.Cadence Design Systems is benefiting from higher design complexity and rising customer spend on AI-driven automation. CDNS’ efforts to unify EDA, IP, 3D-IC, PCB and system analysis are aiding in capitalizing on the opportunity presented by the AI super cycle. The focus on generative AI, agentic AI and physical AI is leading to an exponential increase in computing demand and semiconductor innovation.

Amid rapid AI proliferation, the Cadence.ai portfolio has been gaining strength and new product launches (like AgentStack along with ChipStack, ViraStack and InnoStack AI Super Agents) are expected to aid in sustaining the momentum. 

CDNS’ hardware systems continue to gain traction from AI, HPC, robotics and automotive companies. The inorganic strategy is the calculated execution of its Intelligent System Design vision. Backlog stood at $8 billion. CDNS now expects 2026 revenues to be between $6.125-$6.225 billion compared with $5.3 billion in 2025.

Cadence Design Systems has an expected revenue and earnings growth rate of 17.1% and 11.2%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has remained the same over the last 30 days. 

Microchip Technology Inc.Microchip Technology benefits from growing AI investments. The company’s Gen 4 and Gen 5 data center products are witnessing strong sales growth. MCHP’s new products are expected to gain traction with the launch of the industry's first 3-nanometer-based PCIe Gen 6 switch that powers modern AI infrastructure. 

These switches offer double bandwidth, lower latency, advanced security and high-density AI connectivity for next-generation cloud and data center performance. The success of the restructuring plan also bodes well for MCHP’s prospects. The company also entered the PCIe retimer market in the June 2026 quarter as a companion device for Gen6 switches, and disclosed an OEM design win that displaced a competitor. 

MCHP has expanded connectivity, storage and compute offerings for AI and data center applications, as well as intelligent power modules for AI at the edge. These factors are expected to drive top-line growth in the long term.

Microchip Technology has an expected revenue and earnings growth rate of 31.7% and 88.4%, respectively, for the current year (ending March 2027). The Zacks Consensus Estimate for the current year’s earnings has improved 0.3% in the last 30 days.

Fortive Corp.Fortive has been benefiting from productivity actions and reinvestment in innovation and commercial initiatives. FTV is benefiting from steady demand across Intelligent Operating Solutions and Advanced Healthcare Solutions. The company’s Fortive Accelerated strategy bodes well.

FTV is building the new Fortive around faster, profitable organic growth, disciplined capital allocation and consistent delivery. In first-quarter 2026, the company cited higher innovation velocity with several hardware milestones and AI-enhanced launches. 

In healthcare, FTV’s Provation Mira Documentation Assist was introduced as a real-time, AI-powered, voice-driven documentation capability embedded into GI procedural workflows, which can reduce administrative burden and support continued software adoption. 

FTV’s commercial efforts are increasingly targeted at higher-growth verticals such as AI data centers, defense and distributed energy, alongside made-in-region actions in India and China and a European launch of STERRAD ULTRA GI.

Fortive has an expected revenue and earnings growth rate of -6.9% and 9.6%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.3% in the last 30 days.

CANADA - 2026/07/03: In this photo illustration, the AMD (Advanced Micro Devices) logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

This article was written by Doug Nathman, with research by his team at Trefis.

AMD (AMD) has nearly quadrupled its value in the last year, with its market capitalization nearing $900 billion.

The factors driving this surge are quite evident.

EPYC CPUs are capturing significant server market share from Intel (INTC), with proactive AI workloads fostering a structural recovery in CPU demand that extends beyond normal cycles. On the GPU front, the MI400 series represents the most formidable product AMD has ever released, so much so that its specifications compelled Nvidia (NVDA) to enhance memory bandwidth and power capacity just to maintain competitiveness. Commitments from hyperscalers are genuine and expanding, with Meta alone intending to deploy up to 6 gigawatts of AMD Instinct GPUs, all amidst over $700 billion in AI infrastructure capital expenditures pledged by hyperscalers this year.

The bullish outlook is credible.

The chips are increasingly attractive. The clientele is dedicated. The CPU segment is concurrently experiencing a structural rebound. With the stock trading at over 70x projected 2026 earnings, the market is aware of all these factors. (See AMD valuation multiples)

What it might be neglecting is an issue unrelated to demand.

The Constraint Is PhysicalIn contrast to conventional CPUs, AI accelerators achieve a significant portion of their performance through the close integration of processing dies and high-bandwidth memory. Advanced packaging is essential for facilitating that integration. Specifically, TSMC's CoWoS technology is what enables the binding of chiplets into a complete AI accelerator. Without it, the silicon in a fabrication plant is essentially useless. Presently, no other manufacturer can provide advanced packaging at a level comparable to TSMC's leading edge. TSMC's CEO informed shareholders on June 4, 2026, that CoWoS capacity remains exceptionally limited and fully booked through 2026, with lead times varying from 52 to 78 weeks.

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This is not a fleeting bottleneck. The machinery necessary for expansion requires years for acquisition and installation, indicating that the limitation will mainly remain fixed for the upcoming years.

Evaluating how this limited capacity is allocated reveals that Nvidia commands approximately 60% of the overall CoWoS production, around 595,000 wafers, and has already secured more than half of TSMC's expansion capacity for 2026-2027. The top three clients together account for over 85% of total output. AMD possesses about 105,000 wafers, roughly 11% of total need. However, in AI, the scarcity is no longer in demand. It resides in packaging capacity.

Intel has directed substantial investments towards developing a foundry business, which has contributed to the stock's appreciation. The more pressing question is whether Intel's capacity is supported by committed external clients.

AMD Is Competing With Itself For What Limited Capacity ExistsAMD's collaboration with TSMC encompasses both SoIC-X and CoWoS-L packaging across its complete data center range, including CPUs and GPUs. These advanced packaging solutions are employed in the assembly of AMD's most intricate server processors and AI accelerators. The Venice EPYC CPU, which is transitioning to 2nm, shares the same restricted resource pool as the MI400 GPU. Each EPYC slot utilized cannot be allocated to an Instinct GPU. Thus, AMD is allocating capacity between its two rapidly expanding product lines at the same time.

Nvidia does not experience this issue. Its CoWoS allocation is dedicated to one product family. More critically, packaging capacity is reserved several years in advance, which means AMD cannot simply acquire additional capacity if demand for the MI400 surpasses expectations. AMD is the only significant entity simultaneously scaling both its server CPU and AI GPU franchises through the same bottleneck.

The ConclusionAI investors frequently engage in discussions about chips, benchmarks, and clients. For AMD, a more crucial question may be whether it can acquire adequate advanced packaging capacity to convert that demand into shipments.

With the current valuation exceeding 70x forward earnings, even a minor execution error could translate into a substantial investment error. A single-stock strategy at these valuations is inherently unstable. As historical volatility illustrates, depending on the perfect pricing assumptions of a single position ignores the structural risks that high-multiple stocks face during broader market shifts. The remedy is a rule-based portfolio strategy.

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Key Takeaways MS' Q2 revenues are projected to rise 15.4%, while earnings are expected to jump 35.7%.Strong advisory and underwriting fees are expected to drive a 40% increase in MS' IB income.Higher client activity and volatility may lift MS' equity and fixed-income trading revenues. Morgan Stanley (MS - Free Report) is scheduled to announce second-quarter 2026 earnings on July 15 before market open. The company’s financial results and subsequent management conference call are expected to attract significant attention from analysts and investors seeking insights into how it is navigating the current operating environment.

Morgan Stanley’s first-quarter 2026 performance was impressive, driven by robust trading and deal-making activities. The company’s results in the to-be-reported quarter are likely to have benefited from similar positive factors. The Zacks Consensus Estimate for second-quarter revenues of $19.38 billion suggests 15.4% year-over-year growth.

In the past seven days, the consensus estimate for earnings for the to-be-reported quarter has been revised 4% upward to $2.89. The figure indicates a 35.7% jump from the prior-year quarter.

Estimate Revision Trend
 

Image Source: Zacks Investment Research

MS has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with the average beat being 17.07%.

Earnings Surprise History
 

Image Source: Zacks Investment Research

Factors to Influence Morgan Stanley’s Q2 ResultsIB Income: After an impressive first-quarter performance, global deal-making activity moderated as geopolitical uncertainty, persistent valuation gaps, slowing economic growth, elevated inflation and interest rates, and a stubbornly high backlog of private equity exits weighed on transaction value. However, strategic buyers remained active, targeting deals that could expand scale, bolster resilience and strengthen supply chain security amid the challenging operating environment.

So, while global mergers and acquisitions (M&As) volume improved year over year, deal value fell as only a handful of big transactions dominated the space. This, along with Morgan Stanley’s position as one of the leading players in the space, is expected to have driven advisory fees in the second quarter. The Zacks Consensus Estimate for advisory fees is pegged at $684.6 million, indicating a year-over-year jump of 34.8%.

The quarter witnessed strong IPO activity and equity issuances. Morgan Stanley’s prominent underwriting role in SpaceX’s mega IPO is likely to have boosted its equity underwriting fees. Further, global bond issuance volume was solid, driven by corporate refinancing and infrastructure builds. So, Morgan Stanley’s equity and fixed income underwriting fees are expected to have increased on a year-over-year basis.

The Zacks Consensus Estimate for equity underwriting fees of $554.4 million suggests year-over-year growth of 10.9%. The consensus estimate for fixed-income underwriting fees is pegged at $704.9 million, indicating a surge of 32.5%. The consensus estimate for total underwriting fees of $1.26 billion implies a jump of 22%.

The Zacks Consensus Estimate for IB income of $2.3 billion indicates a year-over-year jump of 40%.

Trading Revenues: The performance of Morgan Stanley’s trading business (constituting a significant portion of its top line) is expected to have been solid in the second quarter of 2026, supported by increased client activity and market volatility. Trading conditions were shaped by evolving expectations surrounding artificial intelligence, ongoing geopolitical tensions, persistent inflationary pressures and a more hawkish Federal Reserve. These factors contributed to heightened volatility across equities and other asset classes, including commodities, fixed income and foreign exchange.

The Zacks Consensus Estimate for the company’s equity trading revenues is pegged at $4.42 billion, suggesting a rise of 18.7% from the prior-year quarter. The consensus estimate for fixed-income trading revenues of $2.31 billion indicates a gain of 6%.

Net Interest Income (NII): In the to-be-reported quarter, the Fed kept interest rates unchanged, while signaling a hike later in the year because of persistently high inflation. This created a favorable backdrop for Morgan Stanley.

Further, the lending scenario is likely to have improved in the second quarter, which, along with stabilizing funding/deposit costs, is expected to have offered much-needed support. Hence, Morgan Stanley’s NII is likely to have witnessed a decent improvement in the quarter.

The Zacks Consensus Estimate for net interest revenues is pegged at $2.62 billion, suggesting a rise of 11.5% on a year-over-year basis.

For the wealth management segment, management expects NII to rise modestly on a sequential basis.

Expenses: Cost reduction, which has long been Morgan Stanley's primary strategy for remaining profitable, is unlikely to have provided much support in the June-ended quarter. As the company has been investing in franchises, overall costs are likely to have been elevated.

What Our Quantitative Model Unveils for MSMorgan Stanley’s Price PerformanceIn the second quarter, Morgan Stanley’s share performance was impressive as the operating backdrop turned favorable. The stock fared better than the industry as well as its peers, Goldman Sachs (GS - Free Report) and JPMorgan (JPM - Free Report) . 

2Q26 Price Performance
 

Image Source: Zacks Investment Research

Goldman and JPMorgan are scheduled to announce second-quarter 2026 numbers tomorrow.

Over the past seven days, the Zacks Consensus Estimate for Goldman’s second-quarter 2026 earnings has been revised north to $14.47. The consensus estimate for JPMorgan’s second quarter 2026 earnings has been revised upward to $5.59 over the past week. At present, both GS and JPM carry a Zacks Rank #2 (Buy).

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- Expands PENN's Canadian online gaming footprint, bringing premier sportsbook and online casino experiences to players across Alberta -

TORONTO & WYOMISSING, Pa.--(BUSINESS WIRE)--PENN Entertainment (Nasdaq: PENN) (“PENN” or the “Company”) today announced the launch of theScore Bet Sportsbook & Casino in Alberta, as well as theScore Casino and Hollywood Casino standalone apps, further expanding the Company’s Canadian online gaming footprint and bringing its leading digital gaming brands to players across the province. These apps are now available across Alberta on iOS, Android, and are also available on the web.

The Alberta launch marks the next chapter in theScore Bet’s continued growth in Canada, building on its success in Ontario. Players in Alberta can now enjoy the uniquely integrated sports media and betting experience from two of Canada’s most trusted brands, theScore and theScore Bet, bringing live scores, news, stats and betting together in one connected ecosystem.

In addition to sports betting, theScore Bet Sportsbook & Casino gives Alberta players access to a comprehensive online casino experience featuring hundreds of slots, table games, live dealer experiences and exclusive games, including Blue Jays Blackjack.

Complementing theScore Bet Sportsbook & Casino experience, PENN is also launching standalone Hollywood Casino and theScore Casino apps in Alberta. Hollywood Casino, a popular online and retail casino brand, delivers a casino-first experience featuring an extensive portfolio of slots, table games and live dealer content. For players who prefer a dedicated casino app, theScore Casino offers the same premium gaming experience, providing additional choice alongside the all-in-one theScore Bet Sportsbook & Casino app.

“Alberta has an incredible sports culture, and we’re excited to bring theScore Bet Sportsbook & Casino to players across the province,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment. “Fans already know and trust theScore, and with theScore Bet, we’re extending that connection into a seamless sportsbook and casino experience. Whether you’re following your favorite team, placing a bet, or enjoying casino games, we’ve built the experience around the way fans naturally engage with sports. We commend the Alberta government for introducing a regulated online gaming market for private operators and look forward to serving fans in one of Canada’s great sports markets.”

As Canada’s sportsbook, theScore Bet is proud to partner with Canada’s most iconic sports organizations as the exclusive official gaming partner of the Toronto Blue Jays, the exclusive gaming partner of Golf Canada and an official gaming partner of the NHL and PGA Tour.

Alberta customers can now enjoy:

Same Game Parlays, player props and live, in-game betting. Seamless betting integration with theScore's trusted sports news, scores and data. Hollywood Casino's extensive portfolio of slots, table games and live dealer experiences, including Blue Jays Blackjack, the Dancing Drums series, and Sweet Bonanza series. To celebrate the launch, theScore Bet is introducing a series of fan experiences throughout the summer, including its popular Toronto Blue Jays Jersey Swap event. Additional details are available at theScore.bet/alberta.

About theScore Bet Sportsbook, theScore Casino & Hollywood Casino
theScore Bet Sportsbook & Casino, theScore Casino and Hollywood Casino are PENN Entertainment's leading online gaming brands in Canada, offering premium sports betting and online casino experiences powered by PENN's proprietary technology platform. theScore Bet Sportsbook & Casino uniquely integrates with theScore to deliver a connected sports media and betting experience, while Hollywood Casino and theScore Casino provide players with a comprehensive portfolio of slots, table games, live dealer experiences and exclusive content.

About PENN Entertainment, Inc.
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company,” “we,” “our,” or “us”), operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.

Forward Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment’s filings with the Securities and Exchange Commission (the “SEC”), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment’s ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

More News From PENN Entertainment, Inc.

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MicroStrategy, a leading enterprise analytics and software firm, announced an increase to its US dollar cash reserves, adding $466.7 million last week through sales of common stock. The move raised the company’s USD reserve to $3 billion, according to a recent regulatory filing published on Monday.

MicroStrategy’s capital raise and reservesThe proceeds were secured via an at-the-market equity program, which allows the company to sell shares to raise capital as market conditions allow. MicroStrategy reported that it holds this substantial cash reserve to support dividends on its preferred shares and interest payments on its outstanding debt obligations.

Despite recent market volatility, MicroStrategy made no changes to its bitcoin position last week. The firm’s bitcoin holdings remain at 843,775 BTC, a figure that has made it one of the largest corporate holders of the cryptocurrency internationally.

MicroStrategy now holds its US dollar reserve at $3 billion, while its bitcoin position remains unchanged at 843,775 coins acquired for a total of approximately $63.69 billion at an average purchase price of $75,476 per bitcoin.

According to the company, the aggregate purchase price for these bitcoin holdings, including fees and expenses, totals about $63.69 billion. The average purchase price per coin stands at $75,476.

MSTR shares were down 3% in pre-market trading as bitcoin traded at $62,800 following a weekend decline for the largest cryptocurrency by market capitalization.

MetricValueUSD Reserve$3 billionBitcoin Holdings843,775 BTCTotal Bitcoin Purchase Price$63.69 billionAverage Price per Bitcoin$75,476Current Bitcoin Price$62,800MSTR Pre-market Change-3%Founded in 1989 and headquartered in Tysons Corner, Virginia, MicroStrategy is known for its business intelligence and cloud-based analytics platforms. In recent years, the company has become widely recognized for its aggressive bitcoin accumulation strategy, spearheaded by Executive Chairman Michael Saylor.

Crypto market dynamicsBitcoin experienced downward pressure over the weekend, falling through several support levels to its current price of $62,800. The decline in the cryptocurrency’s price corresponded with the drop in MSTR’s stock seen before markets opened.

Other factors, including renewed tensions in the Middle East and ongoing profit-taking across major crypto assets, have added volatility after a bullish streak in the previous week.

Crypto market analysts are closely watching developments in inflation data and earnings reports this quarter, anticipating their effect on both traditional equities and digital assets.

While broader market sentiment has been mixed, MicroStrategy’s steady bitcoin position signals continued confidence in the long-term prospects of the cryptocurrency.

Recent fluctuations have not prompted additional purchases or sales by the company, as its reserves are currently allocated for corporate financial obligations.

MicroStrategy’s dual strategy of maintaining a large bitcoin treasury while securing traditional dollar reserves continues to set it apart from other public companies operating in the digital asset sector.

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

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Integrated subsea production system and local capabilities enable accelerated deepwater development

HOUSTON--(BUSINESS WIRE)--Global energy technology company SLB (NYSE: SLB) announced today that its OneSubsea™ joint venture has been awarded a major multi-well engineering, procurement, and construction (EPC) contract by Eni for Phase 3 of the deepwater Baleine project offshore Côte d’Ivoire.

Under the contract, SLB OneSubsea will deliver complete subsea production systems (SPS) for 13 wells, reinforcing its role as a core technology and execution partner on one of the most strategically significant offshore developments currently underway in the region.

The EPC scope includes subsea trees, umbilical, manifolds, multiphase flowmeters and control systems, along with installation, commissioning and life-of-field support. The integrated delivery model is designed to streamline execution and support the project’s fast-track development schedule.

"Baleine Phase 3 brings together scale and execution certainty," said Mads Hjelmeland, chief executive officer of SLB OneSubsea. "Through our subsea production system technology and by leveraging our established local presence, we are supporting Eni’s efforts to advance a complex, deepwater project efficiently while contributing to the long-term development of offshore resources in Côte d’Ivoire."

Project execution will be supported by SLB OneSubsea’s in-country presence and local capabilities, contributing to efficient delivery across the life of the project.

Key points

Eni has awarded SLB OneSubsea a multi-well EPC contract for the Baleine Phase 3 development. The SPS contract covers 13 wells and includes subsea trees, umbilicals, manifolds, flowmeters and control systems, along with installation and commissioning. SLB OneSubsea will execute the project through its established in-country presence and local capabilities, supporting efficient project delivery. About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at SLB.com.

About SLB OneSubsea

SLB OneSubsea is driving the new subsea era that leverages digital and technology innovation to optimize our customers’ oil and gas production, decarbonize subsea operations and unlock the large potential of subsea solutions to accelerate the energy transition. OneSubsea is a joint venture backed by SLB, Aker Solutions and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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DETROIT, July 13, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”), a North American OEM and provider of all-electric trucks, step vans, shuttles and buses, today announced the appointment of Jody Davis as Chief Financial Officer (CFO), replacing current CFO Bob Ginnan, who is retiring.

Davis is a finance executive with approximately 15 years of finance leadership experience across manufacturing, energy storage, aerospace, and technology companies, with a track record of closing large capital rounds and guiding development-stage businesses into full production. His experience includes roles in strategic finance, capital formation, capital markets, treasury, financial planning & analytics, as well as building the finance infrastructure needed to support capital intensive companies as they move from development into commercialization and production.

“Jody is a company-builder who has deep and direct experience in numerous areas that are critical to Workhorse at this stage in our journey,” said Scott Griffith, CEO of Workhorse. “His experience raising later-stage growth capital combined with experience developing relationships with analysts and investors will be a strong addition to the Workhorse leadership team. We believe he’s the right CFO for where we are and where we’re going.”

Immediately prior to joining Workhorse, Davis served as Vice President of Strategic Finance at Unimacts, where he led financing initiatives across multiple entities within a complex capital structure. Previously, he served as Chief Financial Officer of Evio, formerly EOS Aircraft Inc., a hybrid-electric regional aircraft program, where he led the strategic repositioning of the business to Montreal, Canada as part of an Industrial and Technological Benefits (ITB) partnership with Boeing Canada. In connection with that transition, he built integrated financial models linking design, production and certification milestones to capital deployment.

Davis was part of the founding team and served as Chief Financial Officer of Our Next Energy, Inc., (ONE), a Michigan-based LFP battery innovator. During his time with the company, ONE scaled from pre-seed stage to production while expanding to approximately 500 employees, and Davis built the finance, human resources, financial planning & analytics functions needed to support this rapid growth. He played a key role across capital formation, various debt structures, investor diligence, board reporting, treasury, working capital discipline, and manufacturing scale-up.

“Workhorse is at an inflection point. I believe it has something rare: a product that already wins on real operator economics, a commercial-grade manufacturing facility, and a customer base that includes many of the largest medium-duty fleets in North America,” said Davis. “Workhorse is in the early stages of an exciting growth plan, and with the right capital partners, I believe there is significant upside ahead. My focus will be to bring in those partners and work to maintain a financial architecture that keeps pace with the opportunity: the right capital structure, rigorous cost management, and the systems that give Workhorse’s team, customers and investors the visibility they need. I’m thrilled to join the Workhorse team and look forward to getting to work.”

The Company believes Davis’ background is well-suited to help Workhorse achieve its near-term priorities, including securing additional growth capital, developing relationships with analysts and institutional investors, and accelerating cost reductions on the W56 and next-generation Class 5–6 platforms. Davis replaces current CFO Bob Ginnan, who is retiring. Ginnan served as CFO at Workhorse since January, 2022, helping the company navigate through several key corporate financial events, including capital raises, a divestiture and the merger with Motiv Electric Trucks.

“I want to thank Bob for his years of leadership and tireless work, including his most recent efforts to assist with finalizing and closing the Workhorse-Motiv merger and his efforts to lead several key aspects of integration,” said Griffith. “We all wish him well.”

About Workhorse Group Inc.

Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is redefining what a medium-duty truck should be. Workhorse builds software-first, electric trucks, shuttles and buses that are powerful, cost-efficient, reliable, safe and comfortable — all with zero tailpipe emissions. Our deep experience building electric vehicles at scale drives intentional innovations designed to help customers lower operating costs, improve fleet performance, enhance the driver experience, and maximize uptime without compromise. More information is available at www.workhorse.com.

Media Relations Contacts:

Workhorse
John Williams, Communications
+1-206-660-5503, [email protected]

ICR, Inc.
[email protected]

Investor Relations Contact:
[email protected]

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including statements regarding the impact of Mr. Davis’ appointment, and those regarding the Company's achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties are described in greater detail under the caption "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92a2014d-8229-4cbb-a588-2b25e1a0886b

Jody Davis, Chief Financial Officer at Workhorse Jody Davis joins Workhorse as CFO, replacing current CFO Bob Ginnan, who is retiring.

Today marks the three-year anniversary of what the digital asset community calls "The XRP Victory Day". 

On July 13, Judge Analisa Torres of the U.S. District Court for the Southern District of New York delivered a landmark summary judgment in the SEC v. Ripple Labs case, fundamentally reshaping the cryptocurrency regulatory landscape. 

The historic ruling decisively declared that XRP, in and of itself, is not a security.

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The historic Torres rulingThe legal warfare initiated by the U.S. Securities and Exchange Commission (SEC) in December 2020 sought to classify all sales of XRP as unregistered investment contracts. 

Judge Torres's final ruling, however, rejected this attempt by relying on the decades-old Howey Test for modern digital assets.

Judge Torres ruled that Ripple’s programmatic sales of XRP on public digital asset exchanges did not constitute the sale of securities. She concluded that retail buyers purchasing tokens on secondary markets through blind bid-ask auctions had no way of knowing their funds were going to Ripple. Consequently, these buyers could not have had a reasonable expectation of profits derived directly from Ripple's effort (hence, it failed a core prong of the Howey Test). 

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Conversely, the court sided with the SEC regarding direct institutional sales. Judge Torres ruled that Ripple’s $728 million in direct token sales to institutional players constituted unregistered securities offerings. These sophisticated parties were aware they were purchasing directly from Ripple (and their success depended on the company's efforts).  

On the verge of a shutdown In the meantime, recently surfaced statements from Ripple CEO Brad Garlinghouse and Chief Technology Officer David Schwartz confirmed that the company was seriously considering closing its doors. "We almost decided to shut down the company when the SEC sued us," Garlinghouse admitted. "We were like, you know, the government has infinite power and resources." This was due to advice from their lawyers, according to Schwartz.

The UK Treasury has selected Ripple, the US-based blockchain payments company, as a member of a major government-backed initiative designed to modernize the nation’s wholesale financial markets through tokenization.

Ripple joins top financial institutions in reform groupRipple will be part of a working group composed of 54 organizations, formed under the leadership of Wholesale Digital Markets Champion Chris Woolard and the City of London Corporation. Other members include prominent global financial institutions such as BlackRock, Goldman Sachs, and J.P. Morgan, as well as leading market infrastructure providers Euroclear and Bloomberg.

The government aims to fully replace traditional settlement systems with blockchain technology across wholesale financial markets. This initiative reflects the UK’s ambition to capture a share of the rapidly expanding global market for tokenized real-world assets, which analysts forecast could reach $88 trillion by 2035.

The UK government estimates a transition to on-chain wholesale markets may generate £33 billion in additional annual economic output and boost tax revenues by £14 billion each year by 2035.

By moving established financial activity onto blockchain-based platforms, officials seek to streamline operations and expand the competitive position of London’s financial sector.

Mini dictionary: City of London Corporation, a municipal governing body for the historic center of London, plays a central role in promoting the city as a leading financial hub and supports initiatives aimed at financial innovation and regulation.

Action plan targets digital bonds and tokenized marketsThe group has set a 12-month timetable focused initially on the fixed-income sector, which officials identify as ready for rapid transformation. A key part of the strategy involves launching DIGIT, sovereign digital bonds issued by the UK government, and digitizing collateral markets.

Nine specialized action groups will pursue end-to-end deployment of technological solutions. Their brief also includes live testing of tokenized repurchase (repo) transactions, targeted for completion by spring 2027.

Key Reform TargetImplementation GoalFixed-income marketsImmediate digital transformationDIGIT bondsLaunch as UK sovereign digital bondsTokenized repo transactionsLive end-to-end tests by spring 2027Input from market participants will be collected through September 4, 2026. After this feedback phase, the reform program will advance into implementation, ushering in a new era for Britain’s wholesale capital markets.

Ripple is expected to contribute its global technological expertise to support high-volume institutional transactions as the UK aims for digital innovation in its financial core.

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

The Foundation's security team used coordinated AI agents to uncover a remotely triggerable crash, then spent most of its effort weeding out convincing false positives.

Posted July 13, 2026 at 6:19 am EST.

The Ethereum Foundation pointed a fleet of coordinated AI agents at the software that runs the network and came away with a genuine security flaw: a remotely triggerable crash that could take a validator offline until an operator restarts it. The bug was fixed and disclosed as CVE-2026-34219.

In field notes published July 9, the Foundation’s Protocol Security team, writing through researcher Nikos Baxevanis, walked through how it ran the agents and vetted their output.

This story is an excerpt from the Unchained Daily newsletter.

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The more striking finding was about the work itself. Baxevanis wrote that little effort went into finding bugs and most went into separating the real ones from findings that only looked real. Unlike a fuzzer, which returns a crash and a stack trace, an AI agent returns a persuasive narrative, complete with a call chain, a severity rating, and working code, and it reads the same whether the bug is genuine or invented.

That gap has practical stakes as AI reshapes the security threat model. The team catalogued recurring false positives: crashes that only occur in test builds, attacks that work only if a value is planted by hand, and formal proofs that pass without proving anything useful. Agents also struggle with exploits that unfold across a sequence of individually valid steps, the pattern behind several of this year’s costly DeFi attacks, so the Foundation now uses agents to suggest which sequences to test rather than to render a verdict.

The experiment fits a broader shift at the Foundation, which has said it will lean more on AI-assisted verification after deep staff cuts. Its conclusion echoes work by Anthropic and Cloudflare on agent-driven security research: the models can cover far more ground than humans alone, but a person still has to decide what counts as a real bug and what gets disclosed.

Related Listen: Ex-Ethereum Foundation Researchers Launched Their Own Lab: Uneasy Money

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 13 (Reuters) - U.S. pipeline operator ​Williams (WMB.N), opens new tab said on Monday ‌a consortium led by Blackstone (BX.N), opens new tab will invest $5.34 billion for ​a 49% noncontrolling stake ​in five of its behind-the-meter ⁠power generation projects.

The ​consortium, which also includes Apollo ​and insurance vehicles and accounts managed by KKR (KKR.N), opens new tab, will provide $4.4 ​billion representing 49% of ​expected growth capital expenditures for the ‌projects, ⁠along with about $900 million of additional consideration to Williams.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

The transaction covers the ​company's ​Socrates, Apollo, ⁠Aquila, Socrates the Younger and Neo ​projects, part of ​a ⁠broader pipeline of more than 6 gigawatts of power ⁠projects ​that Williams ​is developing.

Reporting by Sumit Saha in ​Bengaluru; Editing by Maju Samuel

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

Global Industrial Conglomerate Hyundai Completes Enterprise Treasury Pilot on Tether USD₮, Moving Corporate Funds Across Global Borders

13 July 2026 – Tether, the largest company in the digital asset industry and the issuer of USD₮, announces the successful completion of the first enterprise cross-border settlement Proof of Concept (POC) between Hyundai Motor America and Hyundai Motor de México through Axiym on the Avalanche blockchain network.

The initiative  demonstrated that an enterprise cross-border transfer and verification process could be completed in an average of seven minutes, compared with traditional interbank transfers that typically require three to four hours or more.

As part of the first phase of the POC, Hyundai Motor America (HMA) converted USD 20,000 into USD₮, transferred the stablecoin to Hyundai Motor Mexico (HMM), and converted it back into U.S. dollars. The full process included international transfer and verification, highlighting how stablecoins can support cross-border settlement for global businesses.

While the pilot demonstrated the speed and efficiency of stablecoin-based settlement, it also reflects a broader shift in enterprise finance. The significance extends beyond the transaction itself: one of the world’s largest industrial companies is actively evaluating blockchain-based financial infrastructure for corporate treasury operations. As stablecoins move beyond crypto-native use cases, participation from global enterprises highlights growing interest in using digital dollars to support faster cross-border payments, treasury management, and capital movement.

This achievement builds on Tether’s existing strategic investment in Axiym and reaffirms Tether’s commitment to expanding enterprise and institutional use cases for USD₮ by supporting infrastructure purpose-built to enable compliant, scalable, and efficient global payment settlements. During the POC, Axiym’s regulated settlement infrastructure enabled the near-real-time movement of USD₮, demonstrating faster, more efficient cross-border settlement at enterprise scale.

The PoC went beyond the transaction itself, with Hyundai Card leading the design of the remittance structure and overseeing regulatory review, compliance considerations, accounting requirements, and the operational framework needed to evaluate stablecoin-based settlement between overseas subsidiaries.

As businesses expand across multiple jurisdictions, the ability to move capital quickly, transparently, and efficiently has become a strategic necessity. Stablecoins provide enterprises with a new way to streamline settlement, improve treasury management, and create more efficient global payment flows without compromising existing operational, governance, or compliance standards.

“Stablecoins are becoming a critical part of the next generation of global financial infrastructure,” said Paolo Ardoino, CEO of Tether. “Hyundai’s initiative shows the growing demand for financial infrastructure that can help enterprises to move value across borders with greater speed, efficiency, and transparency. USD₮ is helping bridge traditional finance and blockchain-based infrastructure, offering companies new tools to streamline settlement and unlock new ways to manage global operations effectively.”

The next phase of the initiative will explore additional cross-border corridors and local currency settlement, further evaluating how stablecoins can support broader enterprise payment and treasury workflows.

As global financial infrastructure continues to evolve, the conversation is no longer about whether stablecoins have meaningful real-world applications; it is about how quickly they will become embedded in the systems that power international commerce. Tether remains committed to supporting the technologies, infrastructure, and innovators accelerating that transformation.

Ground Based Modular System Recently Demonstrated Mission Effectiveness July 13, 2026 08:00 ET  | Source: Kratos Defense & Security Solutions, Inc.

SAN DIEGO, July 13, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, today announced that the company has recently received an approximate $100 million sole source prime contract award for the production of a ground-based modular space domain awareness system. Kratos is an industry leader in space domain awareness, directed energy and other relevant national security systems. Work under this new program award will be performed at secure Kratos production and integration facilities.

Mike Johns, Kratos Senior Vice President, said, “Kratos is proud to have developed, tested and demonstrated this true technology-leading space domain awareness system, which will now be entering production. Our entire organization is extremely proud to have the confidence with our customer to move forward with this mission critical national security system. Based on customer feedback, we believe that this program could in the future become one of the most important for our DRSS business.”

Eric Demarco, Kratos’ President and CEO, said, “We believe that across our company, Kratos has the right, relevant products, at the right time, at the right cost points—products which can be rapidly mass produced and fielded now. There is a generational rebuild and recapitalization of the U.S. defense industrial base under way, including for strategic space systems, to deter and defeat our enemies, and Kratos is committed to supporting the Department of War and the success of its mission.”

Due to security related, competitive and other considerations, no additional information will be provided.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
[email protected]

Kratos Investor Information:
877-934-4687
[email protected]

Japanese convenience-store operator Lawson plans to test yen-denominated stablecoin payments at a Tokyo location in August, examining whether stablecoin payments can work inside a standard convenience store checkout flow.

On Monday, blockchain company HashPort said it had signed an agreement with Lawson and telecom group KDDI to conduct the trial at the Lawson Takanawa Gateway City store. Participants will use HashPort's non-custodial wallet, while the store will process payments through the company's point-of-sale system without needing to open or manage crypto wallets. 

The pilot aims to explore how stablecoin payments can be integrated into Japan’s existing retail infrastructure while shielding merchants from much of the operational complexity associated with accepting digital assets.

The companies plan to assess integration requirements, checkout operations, payment processing times and wallet usability before considering broader applications.

Netstars launches multi-stablecoin merchant serviceSeparately, Japanese payments company Netstars launched Stablecoin Pay on Monday, opening applications from merchants seeking to accept multiple stablecoins as payment options. 

The service initially supports USDC, USDT and the yen-denominated JPYC through the Solana and Polygon networks, with MetaMask as the supported wallet. Netstars set the merchant payment fee at 0.98% and said it plans to add more wallets and blockchains. 

With the service, merchants can use existing payment terminals in most cases and handle product pricing, sales records and settlement in yen, even when customers pay with dollar-denominated stablecoins. Netstars said this removes the need to hold crypto or manage exchange rates.

The commercial launch follows Netstars trials involving USDC payments at Tokyo’s Haneda Airport from January to February and at a trading-card store in Himeji from April.

The move from limited pilots to a merchant-facing service comes as Japanese companies build more consumer-facing products around the country’s regulated stablecoin market. On June 1, 2023, Japan introduced a dedicated framework for stablecoins when amendments to the Payment Services Act and related laws took effect. 

The rules created regulatory categories for fiat-linked stablecoins and require businesses acting as intermediaries to register with the Financial Services Agency.

The framework was followed by regulatory approval for USDC distribution in March 2025 and by JPYC’s registration as a fund transfer service provider that August, before the stablecoin was launched in October. 

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