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For decades, the data center was Intel's kingdom. It designed the processors that ran the world's servers, and AMD (AMD +5.71%) was an afterthought. That era is over.

In its first quarter of 2026, AMD's data-center segment generated $5.8 billion in revenue -- more than Intel (INTC +1.97%) pulled in from the same business over the same stretch. It was another quarter in which AMD out-earned its old rival in the data center, and it reframes the investment case for both stocks.

So, which one does the shift favor from here?

Image source: The Motley Fool.

AMD: the data-center engine takes over AMD's first-quarter data-center revenue rose 57% year over year to $5.8 billion. That was the standout line in a strong quarter. Total revenue climbed 38% to $10.3 billion, and data center is now the company's largest and fastest-growing business.

Profitability moved with it. AMD's non-GAAP (adjusted) earnings per share came in at $1.37, and even on a GAAP basis the company earned $0.84 per share and $1.4 billion in net income, at a gross margin above 50%. This is a business growing quickly and making money as it does.

One caveat is worth noting. AMD's data-center segment includes its Instinct artificial intelligence (AI) accelerators, not just server processors, so part of the crossover is a graphics-chip story rather than a pure server-CPU win. In server processors alone, AMD still ships fewer units than Intel.

But even there, the trend runs AMD's way. It now captures close to half of all server-CPU revenue while shipping only about a third of the units -- a sign customers are paying up for its higher-end parts.

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The stock reflects all of it. AMD shares are up more than 250% over the past year, and the momentum shows little sign of fading.

Both halves of the data-center business are pulling their weight: EPYC server processors for cloud providers, and Instinct accelerators for AI workloads. As long as that mix keeps growing, AMD's profit engine keeps getting stronger.

Intel: cheaper, but for a reason Intel's data center and AI group is still sizable, generating $5.1 billion in first-quarter revenue, up 22% year over year. That is healthy growth. And by total revenue, Intel remains the larger company, with more than $50 billion in sales over the past year to AMD's roughly $37 billion. Losing the data-center lead stings precisely because Intel is still the bigger business.

The trouble is everything around that growth. Intel is unprofitable on a trailing basis, dragged down by a foundry unit spending heavily to catch up in manufacturing. In the first quarter, that unit brought in less than $200 million from outside customers and lost money.

And the stock has fallen about 21% in just the past week, on reports that its critical 18A manufacturing process may not reach profitable yields until 2027.

The bull case, of course, is that Intel is cheap and turning around. Its most advanced process could still inflect, and its data-center revenue is growing again. For patient investors, that is a genuine value setup.

But cheap can stay cheap. Intel trades at more than 100 times expected earnings precisely because those earnings are depressed today, and the turnaround keeps taking longer than management promises.

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Which stock the shift favors So which is the better buy? Line the two up, and the contrast is stark. AMD is growing faster, earning more in the data center, and turning that growth into profit. Intel is cheaper, but it is losing money, ceding server share, and waiting for manufacturing to ramp up.

The main issue, of course, is valuation. AMD is not cheap. It trades at about 59 times forward earnings, a rich multiple that already bakes in much of its momentum. If data-center growth cools, the stock arguably has room to fall.

So neither is a bargain. Intel is a deep-value bet on a turnaround with a real chance of disappointing. AMD is a premium-priced bet on continued execution.

Between the two, I'd side with AMD. Paying up for the business that is actually winning its market -- growing 38% and converting that growth into profit -- strikes me as the better risk than betting on a rival to undo years of manufacturing setbacks on a timeline it keeps missing. The data-center crown has changed hands, and I think it stays changed.

Reserve Protocol has launched five AI-themed Reserve Protocol DTFs (Decentralized Token Funds) on BNB Chain. The aim is to give global investors a single-token route into the full AI supply chain.

The products, $BUILDOUT, $POWER, $PHOTON, $NEOCLOUD, and $ROBOTS, are live now and backed by tokenized U.S. equities via Ondo Global Markets. The announcement was made on Reserve Protocol’s official X account on July 9, 2026, alongside a video explainer and trading links.

Five DTFs, One AI Economy: What Reserve Protocol Just Built Each of the five new Reserve Protocol DTFs targets a different layer of the AI value chain. $BUILDOUT covers AI hardware and infrastructure stocks.
$BUILDOUT covers AI hardware and infrastructure stocks.

$POWER focuses on energy and power generation companies feeding AI data centers.

$PHOTON tracks photonics and optical networking companies. $NEOCLOUD holds cloud computing and AI infrastructure providers. $ROBOTS rounds out the set with robotics and automation equities.

The interesting part of the update is that an investor can buy $NEOCLOUD and get instant exposure to tokenized cloud equities without limit.
The DTFs are built on Reserve Protocol’s open-source infrastructure, which is powered by Ondo Global Markets (OGM). It holds tokenized U.S. stocks via licensed U.S. broker-dealers.

Own your share of the AI industry

Today, Reserve launches not one, but five new tokenized equity DTFs, each for a unique layer of the AI revolution: infrastructure, power, photonics, cloud compute, and robotics.

Live on @BNBCHAIN and powered by @OndoFinance, eligible users can… https://t.co/ZiI6zLMLA4 pic.twitter.com/NSnowuVRTd

— Reserve 🌐 (@reserveprotocol) July 9, 2026

Tokens are currently accessible via app.reserve.org, PancakeSwap, CoWSwap, and Bitget Wallet. They are also available on the BNB chain. Bitget has also reportedly launched an $80,000 prize pool trading campaign in relation to these DTFs.

On June 17, Ondo Finance witnessed a welcoming expansion of its tokenized securities offering. This move added 173 new tokenized stocks and ETFs across AI, robotics, quantum, and defense tech, taking its catalog past 430 assets on Ethereum, Solana, and BNB Chain.

The research protocol leveraged the expanded inventory and took it steps further.

Why BNB Chain, and Why Now BNB Chain currently holds over 709 tokenized stocks and ETFs in custody, with Ondo Global Markets. This accounts for more than $5.1 billion of its $6 billion in cumulative DEX volume. That liquidity depth makes BNB Chain the natural home for new tokenized equity products.

The timing is equally deliberate. Global RWA tokenization crossed $36 billion in on-chain value in 2026, with Ondo alone commanding more than 70% market share in tokenized equities and over $3.7 billion in Total Value Locked.

The broader RWA tokenization platform landscape is experiencing rapid growth, and Reserve Protocol is positioning itself at the intersection of DeFi composability and real-world AI equity exposure.

For non-U.S. investors, historically locked out of AI stocks like Nvidia or TSMC or data center REITs. These Reserve Protocol DTFs offer a first-mover on-chain alternative to traditional AI ETFs. Unlike those ETFs, DTFs trade 24/7, are fully collateralized onchain, and can plug into DeFi lending and collateral protocols.

RSR stakers also stand to benefit. Protocol fees from DTF activity fund $RSR buy-and-burn mechanics, tightening supply as TVL grows.

To understand how these blockchain-based shares function and where to acquire them, read our full review on tokenized US equities trading.

State Street Corporation (NYSE:STT) will release its second quarter earnings report before the opening bell on Thursday, July 16.

Analysts expect the Boston, Massachusetts-based company to report quarterly earnings of $3.31 per share, up from $2.53 per share in the year-ago period. The consensus estimate for State Street’s quarterly revenue is $3.87 billion. It reported $3.45 billion last year, according to Benzinga Pro.

On June 24, State Street increased its quarterly dividend from 84 cents to 92 cents per share.

Shares of State Street rose 1.6% to close at $180.16 on Thursday.

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

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

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

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Circle Internet Group, the fintech company behind USDC, one of the world’s largest US dollar-backed stablecoins, has secured final approval from the Office of the Comptroller of the Currency to launch Circle National Trust, a federally regulated national trust bank that will oversee key parts of the company’s digital asset infrastructure.

According to a Friday announcement, the approval places the bank under direct OCC supervision and is expected to enhance the regulatory framework supporting USDC through federally regulated custody, with reserve management planned as a future capability.

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Circle National Trust will initially provide fiduciary digital asset custody services for Circle and affiliated entities, the company noted. Under its approved business plan, the bank may later expand those services to a limited number of institutional customers, including banks and regulated financial institutions.

Circle also said the charter is designed to eventually allow management of the USDC Reserve within the national trust bank, bringing reserve operations under federal oversight.

The OCC approval marks one of Circle’s most important regulatory achievements to date and reflects the company’s strategy of operating within established financial regulatory frameworks.

The stablecoin issuer has steadily expanded its regulated presence globally, including obtaining approvals under the European Union’s MiCA framework and licenses across multiple international jurisdictions.

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

USD/JPY fell to 161.67 on Friday, with the yen fully recovering its losses from the beginning of the week. Market participants are once again increasing expectations of possible intervention by Japanese authorities, following the national currency’s recent move to nearly 40-year lows.

Investors are also awaiting the release of official intervention data later this month to determine whether the Bank of Japan’s actions were behind the yen’s sharp – though brief – gains in recent weeks.

Fresh macroeconomic data has attracted additional attention. Japan’s producer prices rose 7.1% year-on-year in June, marking the fastest pace since March 2023. Cost pressures remain elevated due to the Middle East conflict and the significant weakening of the yen.

At the same time, the Japanese currency found support from lower oil prices following reports that the US and Iran intend to continue peace negotiations despite the recent escalation. The decline in oil prices prompted a retreat in both the dollar and US Treasury yields, while also easing concerns about rising import costs for Japan, which remains one of the largest buyers of Middle Eastern oil.

Technical Analysis On the H4 USD/JPY chart, the market is forming a consolidation range around the 161.57 level, currently extending up to 162.62. A decline towards 161.30 is expected today, followed by a rebound to 162.62, with scope for the trend to extend to 164.15. The MACD indicator supports this scenario, with its signal line above zero and pointing firmly upwards, reflecting continued bullish momentum.

On the H1 chart, the market has completed a downward move to 161.20, with a possible extension to 161.16. A move higher towards 162.62 is expected. A breakout above this level would open the way for a continuation towards 164.15. The Stochastic oscillator confirms this scenario, with its signal line above 20 and pointing upwards towards 80, indicating increasing short-term upside momentum.

Conclusion The yen has fully recovered its losses from the start of the week, supported by renewed expectations of potential Japanese intervention and lower oil prices following signs of US–Iran peace negotiations. Producer prices in Japan rose at their fastest pace since March 2023, reflecting persistent cost pressures from the Middle East conflict and currency weakness. However, falling oil prices eased concerns over Japan’s energy import costs and contributed to a retreat in the dollar and Treasury yields. Technically, USD/JPY may see further downside towards 161.30 in the near term, but the broader uptrend remains intact, with potential for a rebound towards 162.62 and beyond. The market’s focus now turns to official intervention data for confirmation of recent central bank activity.

RoboForex Ltdhttps://www.roboforex.com/

RoboForex Ltd is a reputable financial brokerage company that has been operating since 2009. It provides reliable access to the largest financial markets with competitive conditions.

A wave of payment-focused developments announced in June has significantly boosted Solana’s position in the digital finance ecosystem. According to Solana Payments data, Mastercard has launched seamless stablecoin settlement on the Solana network and brought Solana into its machine-centric Agent Pay initiative. These steps in payment infrastructure signal that the Solana network is gaining visibility not just in crypto transactions but also in everyday financial use cases.

Institutional payment adoption gains tractionIn South Korea, leading payment provider KG Inicis reached an agreement to explore stablecoin payments across its merchant network, which processes close to 25 trillion won per year. MoneyGram has also begun staking SOL to participate in network validation while expanding payment services to over 60 million customers worldwide. These moves underline the growing interest among major institutions in integrating Solana’s blockchain for real-world payment scenarios.

As Mastercard rolled out 24/7 stablecoin settlement on Solana, institutions like KG Inicis and MoneyGram have also begun evaluating the network for their payment services.

Digital bank Toss Bank has started pilot testing stablecoin transfers for its 15 million users. SoFiUSD grew its supply on Solana by $200 million within just five weeks. The Solana ecosystem continues to expand with new offerings like the Canadian dollar-backed CADC stablecoin and Open USD, which is supported by a consortium of major financial institutions.

The addition of subscription and allowance features to Solana means that recurring payments, payroll, and invoicing can now be executed directly on the blockchain, eliminating the need for third-party apps. The platform also highlights solutions such as international corporate banking, digital prepaid cards, and crypto-based lending products that use wallet behavior instead of traditional credit scores.

Network data points to rapid growthSince January 2025, the amount of stablecoins on the Solana network has surged by 154%, reaching $14.75 billion. Payment volume has jumped 87% compared to the same period last year. Card-based payment transactions alone have totaled $420 million. Solana’s share in the cryptocurrency payments sector climbed from 5.43% to an impressive 10.1%.

IndicatorDataStablecoin supply$14.75 billionIncrease since start of 2025154%Annual payment volume growth87%Card payment volume$420 millionMarket share5.43% → 10.1%According to Birdeye’s data from the first half of 2026, over half of Solana’s stablecoin total is made up of USDC, now spread across 7.54 million wallets. For seven consecutive weeks, Solana has ranked first among blockchains in USDC transfer volume. Birdeye is recognized as a leading crypto analysis platform for on-chain data and market tracking.

Mini glossary: Stablecoin settlement refers to the finalization of payments using digital assets that are typically pegged to fiat currencies like the dollar. USDC is a widely used, dollar-pegged stablecoin issued by Circle.

In the current week alone, the network processed 22.7 million transactions, equivalent to about one third of all USDC transaction volume. During the same period, payroll payments on Solana reached $1.6 billion, with peer-to-peer transfers among retail users totaling $803 million.

Key technical levels in focus for SOLAnalyst Celal Kucuker notes that SOL’s price continues to demonstrate resilience and retains its upward potential. He highlights the $77 level as a critical support zone, marking the intersection of previous price action and important Fibonacci retracement points.

Celal Kucuker assesses that if SOL breaks above the descending monthly trend established at the start of 2025, resistance areas at $145 and $188 may come into play.

Should SOL maintain its position above the downward trendline, the $145 and $188 levels are likely to emerge as the next resistance points. However, if the support is lost, the current bullish scenario may weaken, possibly delaying broader upward momentum in the market.

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.

Investors looking for a cheap stock with significant upside potential may want to consider Ally Financial (ALLY +1.42%). Ally is one of just a few dozen stocks in the Berkshire Hathaway portfolio, added several years ago by former CEO Warren Buffett. That says a lot right there.

Ally is also one of the first fully online banks, with its origins as General Motors' auto financing arm. While it is a full-service online bank, it is one of the largest auto loan lenders, and that segment of its business is the largest.

The stock has sputtered this year -- it's down 2.7% year to date and up about 9% over the past year. But it has a solid track record, averaging about 10.7% returns over the past 10 years.

But there are some strong reasons why Ally stock should be headed higher over the next year or so.

Image source: Getty Images.

Ally is seeing solid margin improvement Ally launched its "Focused. Forward" strategic plan in 2025, and the results of this effort to reduce complexity, refocus on core strengths, and enhance expense and capital discipline have started to pay off.

In the first quarter, Ally increased net financing revenue by 8% to $1.6 bilion and lowered noninterest expenses by 24%. That resulted in net income of $291 million, or $0.93 per share, up from a net loss of $253 million in Q1 of 2025.

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Further, its net interest margin (NIM) rose 17 basis points year over year to 3.5%. And management expects that to widen over the rest of the fiscal year. In its first-quarter guidance, Ally targeted a NIM of 3.6% to 3.7%, which would mark significant year-over-year growth from Q1.

This is due to several factors, including expense reduction and anticipated revenue gains. Ally had a record 4.4 million auto loan applications in Q1 and was selective, with originations of $11.5 billion, up 13% year over year. This resulted in improved credit quality, as net charge-off rates dropped year over year in Q1, and management expects them to move lower at the midpoint in 2026.

An underlying tailwind for Ally has been a boost in the average loan yield to 9.27%, up from 9.11% in the same quarter a year ago. Auto loan originations generated a robust 9.6% yield.

Looking forward, Ally should benefit from $18 billion in CDs maturing in 2026, management said on the Q1 earnings call. Those CDs carry a weighted average yield of close to 4%. So with deposit rates lower, Ally should be able to replace those higher-yield CDs with new, lower-rate funding.

In addition to this momentum, Ally stock is currently dirt cheap, trading at just 11 times earnings and 8 times forward earnings. That clearly makes it a good buy right now.

Hackers compromised a widely used Injective software package in a supply chain attack with malware designed to steal crypto wallet private keys, adding to a growing attack vector involving attackers using legitimate platforms to deliver malicious payloads.

Security firm Socket discovered on Thursday that a popular npm (node package manager) package with around 50,000 weekly downloads used for building on the Injective blockchain was maliciously modified to steal wallet private keys and seed phrases.

The large number of downloads makes the incident “significant for developers and applications that handle Injective wallet workflows,” Socket researchers said. The malicious code has since been removed.

The software supply chain attack is a relatively new attack vector in which hackers don’t target a blockchain’s cryptography or smart contracts directly, but instead compromise trusted developer tools used to build wallets, exchanges and apps.

Injective is an interoperable layer 1 designed for DeFi applications. Its usage has dwindled over the past two years, with total value locked shrinking by 88% to current levels of $8.2 million from its $71 million peak in mid-2024, according to DefiLlama. 

Secretly copying private keys and phrasesVersion 1.20.21 of the @injectivelabs/sdk-ts npm package was modified through a compromised developer GitHub account, with suspicious commits beginning June 8. It was also pinned across 17 other packages in the Injective Labs npm scope, “exposing users who may not have installed the SDK [software development kit] directly,” Socket said.

“The malicious release hooks wallet key-derivation functions, records private keys and mnemonics, and exfiltrates them through fake telemetry,” Socket explained. 

The malicious code hooked into normal functions used to generate wallet keys, and whenever a developer’s app used these functions, it secretly copied the seed phrase or private key. The compromised data was then encoded and sent to a web address that looked like a legitimate Injective network server.

“Any keys or mnemonics passed through affected packages should be treated as compromised,” Socket added. 

Socket reported that the developer whose account was infiltrated quickly detected the compromise, but the malware had been downloaded more than 300 times, and “the campaign itself isn’t yet fully contained.”

Injective CEO Eric Chen said, “it’s already fixed, and the affected versions on npm are already deprecated.” No funds on the network are at risk, he added, and Socket did not specify whether any funds were stolen in the incident. 

The compromised npm package was downloaded 310 times. Source: Socket

Wallet compromises most costly this yearThe Security Alliance (SEAL) said in its second-quarter threat report that attackers are increasingly using legitimate platforms like GitHub, npm and Google to deliver payloads.

“In some cases, compromised systems are being used to push malicious code directly into a company’s own GitHub repositories, turning a single compromise into a distribution channel for the next one.”SEAL added that the malware itself has also gotten more comprehensive, “with cross-platform payloads, including a rise in macOS-specific campaigns, that combine infostealers, RATs (remote access trojans) and backdoor capabilities in a single package.”

A similar supply chain attack hit Axios npm releases in March, while a malware campaign called TrapDoor was discovered in May targeting crypto, DeFi, AI and security developers.

GitHub itself was exploited on May 20 when it reported unauthorized access to its internal repositories following the compromise of an employee’s device. 

Wallet compromises were the most costly attack vector in the first half of 2026, with $444 million stolen across 33 incidents, CertiK reported Monday. 

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Volkswagen zahájil rozsáhlou transformaci svého podnikání, která má automobilce pomoci vyrovnat se s rostoucí konkurencí z Číny, vysokými náklady i americkými obchodními bariérami. Koncern schválil plán, který počítá s výrazným omezením modelové nabídky a redukcí počtu variant vozů, zároveň chce dále snižovat výrobní kapacity a zvyšovat efektivitu. Přestože vedení zatím nekomentovalo možné propouštění, odbory varují před dalšími škrty a protestují proti spekulacím o rušení pracovních míst i uzavírání výrobních závodů.

Německý automobilový koncern Volkswagen po dnešním zasedání dozorčí rady ohlásil drastické omezení výroby. K možnému propouštění se ale nevyjádřil. Modelová řada by tak měla být postupně zredukována až o 50 procent a počet možných variant výbavy by měl klesnout až o 75 procent, uvedla společnost v tiskové zprávě.

"Díky našemu plánu do budoucna vstupujeme vlastními silami do další fáze transformace," uvedl šéf Volkswagenu Oliver Blume.

Rada se ve Wolfsburgu ve spolkové zemi Dolní Sasko sešla již v 16:00. Zasedání skončilo až pozdě večer. Ke změnám podnik přistoupil pod tlakem vysokých nákladů, nadbytečných kapacit, rostoucí čínské konkurence a také amerických dovozních cel. Před centrálou začal ještě před zahájením jednání hlučný protest.

Finanční ředitel koncernu Arno Antlitz uvedl, že dosavadní úsporná opatření nestačí a firma musí zásadně přestavět obchodní model, mimo jiné snížením režijních nákladů, zvýšením efektivity závodů a zrychlením vývoje technologií. Prvním konkrétním krokem tímto směrem je prodej většinového podílu ve výrobci lodních motorů Everllence za zhruba 7,4 miliardy eur, na němž se firma na konci června dohodla s firmou Bain Capital.

Rada schválila balíček dvanácti opatření a takzvaný "Zielbild 2030" (cílový obraz do roku 2030). Výrobní kapacity chce koncern podle svých slov přizpůsobit aktuální poptávce a přiostřené konkurenci na trhu na zhruba devět milionů vozů ročně. Před pandemií přitom firma disponovala kapacitou na téměř 12 milionů aut a snížení o dva miliony jednotek už podle vedení z velké části dosáhla.

Vedení firmy, jejíž součástí je i česká Škoda Auto, může čelit velkému konfliktu se zaměstnanci, uvedla dříve agentura AFP. Časopis Manager Magazin s odkazem na své zdroje už v červnu napsal, že Volkswagen plánuje výrazně zpřísnit opatření ke snižování nákladů. Celosvětově by mohlo být zrušeno až 100.000 pracovních míst, což je dvojnásobek proti původním plánům. Čtyřem závodům koncernu v Německu – v Hannoveru, Emdenu, Cvikově (Zwickau) a v Neckarsulmu - podle zdrojů hrozí, že budou uzavřeny.

Odborový svaz IG Metall nehodlá na uzavření čtyř závodů přistoupit. Pod heslem "Jednotní v boji za naši budoucnost" dnes pořádal protestní akce ve všech německých závodech koncernu. Jen v samotném Wolfsburgu se podle odborů sešlo více než 400 lidí, mnozí z nich měli trubky a používali sirény.

"IG Metall stojí bok po boku s pracovníky, se vší silou se postaví proti jakémukoli dalšímu propouštění," uvedl regionální manažer IG Metall pro Berlín, Braniborsko a Sasko Jan Otto. Premiér spolkové země Dolní Sasko Olaf Lies už v červnu prohlásil, že země s plánem nesouhlasí. Dolní Sasko drží ve Volkswagenu pětinový podíl.

V absolutních číslech by propuštění 100.000 lidí a uzavření čtyř montážních závodů znamenalo největší restrukturalizaci v historii automobilového průmyslu. Srovnatelné změny provedl před bankrotem v roce 2009 a v jeho průběhu americký automobilový koncern General Motors. Na začátku 90. let firma také během čtyř let zrušila až 74.000 pracovních míst a uzavřela nebo odstavila 21 závodů.

Rivian Automotive (RIVN +8.76%) saw its shares slide this week after the electric vehicle (EV) producer raised $1.2 billion in gross proceeds through an equity offering. The stock is now down more than 16% year to date as of this writing.

The company sold 75 million shares for $15.50 apiece, while also giving underwriters the option to buy another 11.25 million shares at the offering price. Rivian intends to use some of the proceeds to fund its equity contribution under its loan with the Department of Energy (DOE) to build its new factory in Georgia. The new plant will help it increase its electric vehicle production capacity by about 50% to 300,000 vehicles a year.

Image source: The Motley Fool.

In conjunction with its equity offering, Rivian also announced that it delivered 12,194 vehicles in the second quarter, well above its 9,000 to 11,000 forecast. It also raised its full-year delivery guidance to a range of 65,000 to 70,000 vehicles, up from a prior outlook of 62,000 to 67,000 SUVs. It started delivering its new R2 SUV on June 9, which was late in the quarter.

While the equity offering entails about 6% dilution, assuming the underwriters' option is exercised, it is an important step toward helping the company fund its new factory in Georgia. Meanwhile, it is at one of the most pivotal times in its history with the recent launch of its R2 SUV.

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The R2 has gotten some early rave reviews from automotive publications, and with a considerably lower price tag than its luxury R1 SUV, it brings its vehicles to a much wider audience. Increased unit volumes, which spread fixed costs across its vehicles, combined with better sourcing and other features, should eventually help pave the way to stronger gross margins and profitability.

On top of that, Rivian is looking to leverage its software expertise to enable autonomous driving, which would add another high-margin revenue stream. Its point-to-point, fully supervised self-driving (FSD) technology is expected to arrive by the end of this year and will be akin to Tesla's FSD. Earlier this year, it signed a deal with Uber to deploy 50,000 robotaxis to the ride-share company through 2031.

Rivian remains a speculative investment, but the company has a lot of exciting things going for it, including its new R2 model and its autonomous-driving capabilities. It's also backed by major players like Amazon, Volkswagen, and Uber. As such, taking a small stake on this pullback could be worthwhile.

AI Insider Activity: Are Sales Across 3 Key Stocks Noteworthy or Just Noise?Cerebras Systems NASDAQ: CBRS and OpenAI executives used a Paris technology event to outline the companies’ expanding infrastructure partnership, emphasizing faster AI inference, enterprise adoption of agents and a new European data center build-out.

Andrew Feldman, CEO of Cerebras, said the companies’ collaboration began after OpenAI identified fast inference as a key requirement as AI models became more widely useful in workplace applications. Feldman said OpenAI CEO Sam Altman contacted him in the summer of 2025 to discuss the need for faster inference, leading to what Feldman described as “one of the largest deals in Silicon Valley history.” He said the agreement was “north of $20 billion” over several years for compute capacity.

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Cerebras Systems, Inc: The Next Rags-to-Riches AI Story?Sachin Katti, OpenAI’s Head of Industrial Compute, said the company increasingly views latency as a critical product feature as AI becomes part of daily work. He compared the shift to the evolution of internet search, where quality came first but speed later became central to user growth and revenue.

“Latency is a very critical product ingredient for us going forward,” Katti said. He added that OpenAI’s Phi-6 model will be available on Cerebras and said it is “the only frontier model” expected to run at 750 tokens per second. Katti described that speed as “probably an order of magnitude faster than anything else that’s out there.”

Executives Say Speed Will Drive AI Usage Feldman said faster AI responses are essential if AI tools are to become embedded in enterprise workflows. He argued that there is no meaningful market for “slow search” or “dial-up internet,” and said the same expectations will apply to AI systems used throughout the workday.

“If you give people fast tools, they use them more often, they enjoy using them, and they use them on harder and more interesting problems,” Feldman said.

Katti said OpenAI is seeing broader use of Codex internally, beyond software engineering. He said Codex has become “the default user interface” at OpenAI, with employees in legal, go-to-market, finance and other functions using it for increasingly complex tasks. He said OpenAI employees even use Codex to interact with browsers because of its computer-use capabilities.

Katti said tasks with measurable outputs are especially well suited for agents, because the systems can iterate toward better results. As an example of how far usage has spread internally, he said OpenAI’s human resources department built an agent for human reorganizations, calling reorgs “very complex topics.”

Productivity, Not Token Counts, Seen as Key Metric The executives also addressed how enterprises should measure AI adoption. Katti said OpenAI is already seeing company-level productivity gains, pointing to the pace of model releases. He said OpenAI is now releasing a new model every month and attributed the faster pace in part to Codex.

“Previously, AI research was human limited, fundamentally,” Katti said. “We are increasingly getting to the point where recursion begins to become real, where AI is going to help, if not do, the AI research itself.”

Feldman cautioned against using token consumption alone as a measure of AI maturity. He said enterprises should instead focus on business metrics and productivity outcomes.

“I don’t think you should count your tokens as a measure of how AI forward you are,” Feldman said. “I think we’re building AIs to do work. You should count the productivity of the work.”

Infrastructure Bottlenecks Remain a Major Focus Katti said rising use of agentic AI is increasing demand across the technology stack, including CPUs, GPUs, networking, storage and memory. He said OpenAI is “hunting for supply wherever we can get it” and also facing the challenge of finding data centers to house the infrastructure.

He said there is no “silver bullet” for resolving those bottlenecks, but that software optimization and efficiency are becoming more important as AI scales.

“We’ve been in this phase in AI where we are going quickly to new products and new models, it’s all been about time to market,” Katti said. “We are now getting to the point where AI is scaling, efficiency becomes important, too.”

Cerebras Announces European Data Center Expansion Feldman said Europe is a key market because of strong demand for advanced AI and more token capacity. He announced that Cerebras is building 200 megawatts of data center capacity in Europe, including sites in Lyon, France, Norway and Finland.

Feldman said the 200 megawatts of capacity would be completed by the end of next year, with some delivered this year. He said much of the capacity is intended to meet OpenAI’s needs and that Cerebras is deploying “billions of dollars of capital” in data center development.

“We anticipate many more big scale deployments and big data centers here,” Feldman said.

The executives also tied the infrastructure build-out to the growing discussion around sovereign AI. Feldman said AI infrastructure is increasingly viewed as a “critical national resource,” while Katti called data centers “the factories of our age” and “intelligence factories.”

Next 12 Months Expected to Bring Faster Change Looking ahead, both executives said they expect the pace of AI development to continue accelerating. Feldman noted that 12 months earlier Cerebras was still private and had “$25 billion less in sales,” adding that the market had advanced faster than expected.

Katti said “12 months is an eternity in AI” and that he could not predict what will happen even over the next three months. Still, he said the “one constant” is likely to be an accelerating pace of change, with model capabilities continuing to improve quickly.

“The bigger question will be how quickly can these capabilities be adopted for the real world, for enterprise usage, for whatever consumer usage,” Katti said.

About Cerebras Systems NASDAQ: CBRSCerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.

In addition to its AI chips, Cerebras offers systems and related software tools that support researchers and enterprises working with machine learning models.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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SummaryMicron Technology (MU) earns a Buy rating as HBM4 adoption and strategic customer agreements (SCAs) fundamentally enhance its economic moat and earnings stability.SCAs lock in ~40% of MU’s revenues at fixed prices/price bands through 2028–2030, buffering cyclicality while HBM demand will drive gross margin expansion and premium pricing.HBM memory transitions MU from a commodity player to a specialized supplier, with HBM4 ramping twice as fast as HBM3E and already exceeding $1B in revenue.Risks include eventual supply increases post-2028 and hyperscaler capex concentration, but near-term HBM scarcity and potential AI accelerator utilization improvements support robust growth and margins. krblokhin/iStock Editorial via Getty Images

Micron Technology, Inc. (MU) has been one of the most watched semiconductor stocks for a reason. After rising by over 722% in the last year, it captured investors' imaginations with the hope of further gains. The main question

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional stock ownership: GOOGL, AMZN, META

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

Venice AI is pulling in $70 million in annualized recurring revenue through its integration with Bittensor subnet 11, powered by roughly 1.7 million daily API calls.

Delphi Digital, the crypto research firm, projects Venice AI’s total ARR at approximately $200M based on a recent three-week window of subscriber data tracking.

Inside the revenue machine Subnet 11, which previously operated under the name Dippy and has since evolved into TrajectoryRL, specializes in roleplay, companion AI, and prompt optimization. The 1.7 million daily API calls flowing through this subnet translate into revenue-backed demand for subnet tokens.

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TrajectoryRL itself documented roughly $50,000 in revenue during a single month. Scale that across the broader Venice ecosystem and you start to see how the $200M ARR projection from Delphi Digital isn’t just wishful math.

Venice AI distinguishes itself by running a privacy-focused, uncensored AI platform. Its flagship model, Venice Uncensored 1.2, was trained using compute from Bittensor’s Targon subnet. The platform offers chat, image generation, and coding tools.

The token economics behind the curtain Venice’s native token, VVV, began trading in January 2025 and has experienced significant price appreciation amid the broader AI narrative sweeping crypto markets. Holders can stake VVV for API access and earn DIEM credits that translate into computational resources on the network.

The broader Bittensor ecosystem reported approximately $43 million in revenue during Q1 2026 across all subnets.

What this means for investors NVIDIA has been engaging with the decentralized AI market. Institutional interest in decentralized AI infrastructure has been quietly building.

For investors evaluating the VVV token or the broader Bittensor ecosystem, the key metric to watch is sustained API call volume. Revenue projections based on three-week windows, however carefully tracked by firms like Delphi Digital, can be volatile.

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

Hyperliquid’s quarterly notional trading volume has fallen roughly 35% since October 2025, a steep decline for a platform that was setting records just months ago. But buried inside that headline number is a more interesting story: real-world asset trading now accounts for about 30% of total volume on the platform, and that share keeps climbing.

The volume decline in context During Q1 2026, the platform still managed $633 billion in total trading volume.

Hyperliquid has also maintained between 32% and 44% of the perpetual DEX market throughout this period. Losing volume while keeping market share means the whole category contracted, not just one player.

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RWA trading fills the gap RWA volume now constitutes approximately 30% of total platform activity, up meaningfully from prior quarters. At certain points during Q1 and Q2 2026, that figure peaked between 44% and 47% of total volume. In other words, nearly half of all trading on a crypto-native DEX was happening in assets like crude oil, gold, silver, and the S&P 500.

Open interest in RWA perpetuals hit an all-time high of $2.6 billion in May 2026, doubling from $1.3 billion just two months earlier in March.

If you want to hedge an S&P 500 position at 2 AM on a Sunday, your options in traditional finance range from limited to nonexistent. Hyperliquid’s RWA perpetuals fill that gap with 24/7 liquidity, no brokerage account required.

What this means for investors For HYPE token holders specifically, the token serves as the backbone of the ecosystem, used for staking, governance, fee payments, and user incentives, with a maximum supply capped at 1 billion. A decline in overall volume would normally be bearish for a platform token, since less trading typically means less fee revenue. But the growth in RWA trading introduces a new revenue stream and a new user base that could prove more durable than crypto-native speculation.

The risk to watch is regulatory. Traditional financial instruments trading on decentralized platforms exists in a gray area that regulators haven’t fully addressed. Hyperliquid’s 32% to 44% market share makes it a large enough target to attract attention.

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

BitGo has introduced a suite of quantum risk management tools for institutional Bitcoin wallets, aiming to help clients identify, assess and reduce potential exposure to future quantum computing threats before they become a practical concern.

The tools expand BitGo's multi-signature custody platform with operational controls designed to improve wallet security, strengthen address management and reduce public key exposure across UTXO-based Bitcoin wallets, according to a statement on Thursday.

Quantum-risk tools target future computing threatsThe launch comes as concerns grow over the long-term implications of quantum computing on cryptocurrency protocols. While quantum computers capable of breaking Bitcoin's cryptography do not yet exist, security experts have increasingly urged institutions to prepare well in advance for the possibility.

"BitGo is investing in the foundation required for a post-quantum future for our clients," said BitGo CEO and co-founder Mike Belshe.

The firm noted that its multi-signature wallet architecture already minimizes unnecessary key exposure by using strict address hygiene and generating new addresses for Bitcoin transactions. The latest release adds new tools that provide institutions with greater visibility into wallet exposure and workflows for reducing potential risks at scale.

BitGo expands wallet risk management capabilitiesAmong the new features is a Quantum Risk Score that measures potential quantum-related exposure across supported Bitcoin wallets. The platform also introduces a smart UTXO selection method that groups and prioritizes unspent transaction outputs by address, helping reduce exposure that can arise from partial Bitcoin spends.

"We believe the safest key is one whose public key has never been revealed onchain. These capabilities give institutions a practical way to understand and reduce quantum exposure while continuing to rely on the proven security of multi-signature,” Belshe added.

BitGo has also added a guided "Fix Exposed Addresses" workflow, allowing institutions to move funds from addresses with elevated exposure into newly generated addresses with improved key hygiene.

In addition, updated default address-type controls are designed to reduce reliance on Bitcoin address formats and transaction patterns that may introduce additional quantum-related considerations.

The company noted that the tools are intended to complement, rather than replace, future protocol-level upgrades that could introduce post-quantum cryptographic protections to the Bitcoin network.

"Nobody has a quantum computer that can touch Bitcoin today, but that's exactly why the work should start now, while it's calm and optional rather than urgent and forced," Blockstream co-founder Adam Back stated.

BitGo noted that the new capabilities apply to supported UTXO-based assets and multi-signature wallet configurations, enabling institutions to proactively manage address-level risks using currently available technologies.

Table of contents

Seven different XRP exchange-traded funds now trade on US exchanges. The five primary spot funds alone held $927.78 million in combined net assets as of early June 2026, while cumulative net inflows across the XRP ETF complex have reached roughly $1.47 billion since the first fund launched in November 2025. If you’ve searched for a specific ticker — XRPI, XRPC, GXRP, TOXR — and come away more confused about which fund is which, you’re not alone: these products launched within months of each other in late 2025 and early 2026, each from a different issuer, with different fee structures and, in one case, futures-based rather than spot exposure. Here’s the complete breakdown.

Key Takeaways Seven XRP ETFs currently trade in the US: Bitwise (XRP), Canary Capital (XRPC), Franklin Templeton (XRPZ), Grayscale (GXRP), REX-Osprey (XRPR), 21Shares (TOXR), and Volatility Shares (XRPI) Six of the seven hold spot XRP directly in institutional custody; XRPI is a futures-based product tracking CME XRP futures contracts rather than holding spot XRP directly Fees range from 0.19% (Franklin Templeton’s XRPZ) to 0.75%, with several issuers running temporary fee waivers to attract early assets All can be bought through standard brokerage accounts — Fidelity, Schwab, Vanguard, Robinhood — without needing a crypto wallet or private keys Grayscale’s GXRP originated as a private trust before converting to ETF structure, which is why it sometimes appears in searches as “Grayscale XRP Trust” The Complete List of XRP ETFs TickerIssuerStructureExpense RatioCustodianLaunchXRPBitwiseSpot0.34%Coinbase PrimeNov 19-20, 2025XRPCCanary CapitalSpot0.50%Gemini Trust + BitGo TrustNov 12-13, 2025XRPZFranklin TempletonSpot0.19%—Late 2025GXRPGrayscaleSpot (converted trust)~0.35%—Early 2026TOXR21SharesSpot (ETP structure)~0.34%—Nov 2025XRPRREX-OspreySpot~0.75%—Late 2025XRPIVolatility SharesFutures-based (1x)0.94%—May 22, 2025 Fee and custodian figures for Bitwise and Canary Capital are confirmed via SEC filings and fund provider data. Figures for the remaining five issuers are drawn from secondary reporting and haven’t been independently verified against primary sources — always confirm current terms directly with the issuer or your brokerage before investing.

What Actually Happened, and Why So Many Launched at Once Spot XRP ETFs became possible only after the SEC resolved the long-running legal uncertainty around XRP’s regulatory status in 2025. Once that cleared, approvals came in a wave rather than one at a time — multiple issuers had registration statements sitting ready, and Ripple CEO Brad Garlinghouse described the resulting rush of near-simultaneous launches as a “pre-Thanksgiving rush” when Bitwise’s fund debuted in November 2025. Bitwise’s XRP ETF became the first mover and quickly the most liquid, reporting over $100 million in inflows in its opening days. Canary Capital’s XRPC and 21Shares’ TOXR followed within the same window.

Demand has been uneven but persistent since launch. May 2026 was the strongest month yet for the complex, with $131.94 million in net inflows, and as of late June the funds had strung together eight consecutive weeks of positive flows. Retail investors have driven the bulk of that demand — accounting for roughly 84% of inflows by some estimates — while larger institutional participation has moved in fits and starts; Goldman Sachs, for instance, built and then fully exited a $153.8 million XRP ETF position within two quarterly filings. For the latest on how these funds are trading, see today’s XRP news.

XRPI Is Different From the Others — Here’s What to Know Most searches for individual XRP ETF tickers assume every fund works the same way: hold XRP, track its price 1:1. That’s true for six of the seven funds, but not for XRPI. Volatility Shares’ product, which launched earliest of the group on May 22, 2025, doesn’t hold spot XRP at all — instead, it invests principally in XRP futures contracts traded on the CME (Chicago Mercantile Exchange) through a wholly-owned Cayman Islands subsidiary, a structure commonly used by futures-based crypto ETFs to manage tax treatment. It targets 1x daily XRP performance, not a leveraged or amplified return, but the futures-based mechanics mean its returns can still diverge from spot XRP over time due to factors like futures roll costs — a nuance that doesn’t apply to the six spot-holding funds on this list. Volatility Shares separately offers a genuinely leveraged 2x product under a different ticker (XRPT), which is a distinct fund from XRPI and worth not confusing with it. If you’re looking for the most direct XRP price exposure, one of the six spot funds tracks the underlying asset more cleanly; XRPI is a futures-based alternative for investors who prefer that structure specifically.

Grayscale’s GXRP: Trust-to-ETF Conversion Explained Grayscale’s XRP product has a different history than the others. It originated as a privately-traded trust — the kind of structure Grayscale has long used to offer crypto exposure to investors before spot ETFs existed for a given asset — and later converted into a standard ETF. That conversion matters practically: trust shares often trade at a premium or discount to the underlying asset’s actual value, while properly functioning ETFs use a creation/redemption mechanism that keeps share price closely tied to net asset value. Now that GXRP trades as a converted ETF, that discount/premium dynamic has largely resolved, giving holders cleaner price tracking than the legacy trust structure offered.

How to Buy an XRP ETF Every fund on this list trades on standard US exchanges (NYSE, Nasdaq, or Cboe BZX) and can be purchased the same way you’d buy any stock or ETF:

Open or log into a brokerage account — Fidelity, Schwab, Vanguard, and Robinhood all support these tickers Search the specific ticker symbol (XRP, XRPC, XRPZ, GXRP, TOXR, XRPR, or XRPI) Place a standard buy order, same as purchasing any equity ETF No crypto wallet, exchange account, or private key management is required — the fund’s custodian (Bitwise uses Coinbase Prime; Canary Capital splits custody between Gemini Trust and BitGo Trust; other issuers use their own arrangements) holds the underlying XRP, and your brokerage account holds shares representing your claim on it.

Frequently Asked Questions What is XRPI? XRPI is Volatility Shares' XRP ETF, and the earliest-launched fund on this list (May 2025). Unlike the other six funds, it doesn't hold spot XRP — it invests in CME XRP futures contracts and targets 1x daily XRP performance. It's a different structure than a leveraged product, but futures-based mechanics mean returns can still diverge from spot XRP over time.

What is XRPC? XRPC is Canary Capital's spot XRP ETF, one of the first XRP ETFs to launch in the US in late 2025. It holds XRP directly in institutional custody and trades on Nasdaq.

When were XRP ETFs approved? The SEC approved the first spot XRP ETFs in late 2025 after resolving prior legal uncertainty around XRP's regulatory status. Bitwise's fund launched first on November 20, 2025, with Canary Capital, 21Shares, Franklin Templeton, Grayscale, and REX-Osprey following within the subsequent months.

What is Grayscale's XRP ETF called? Grayscale's XRP product trades under the ticker GXRP. It originated as a private trust before converting to a standard ETF structure, which is why some searches reference it as the "Grayscale XRP Trust."

How many XRP ETFs are there? As of mid-2026, seven XRP ETFs trade in the US: Bitwise (XRP), Canary Capital (XRPC), Franklin Templeton (XRPZ), Grayscale (GXRP), REX-Osprey (XRPR), 21Shares (TOXR), and Volatility Shares (XRPI). The five primary spot funds held a combined $927.78 million in net assets as of early June 2026, with cumulative net inflows across the complex reaching roughly $1.47 billion since November 2025. Contentgoogle_us_solana-wallet-tracker_serp-overview_2026-07-08_14-01-09.csvcsvgoogle_us_usd1-stablecoin_serp-overview_2026-07-08_14-01-17.csvcsvgoogle_us_usd1-stablecoin_matching-terms_2026-07-08_14-13-16.csvcsvgoogle_us_usd1-stablecoin_matching-terms_2026-07-08_14-13-53.csvcsvgoogle_us_usd1-stablecoin_related-terms_2026-07-08_14-13-23.csvcsvgoogle_us_usd1-stablecoin_related-terms_2026-07-08_14-14-13.csvcsvgoogle_us_usd1-stablecoin_related-terms_2026-07-08_14-14-22.csvcsvgoogle_us_usd1-stablecoin_serp-overview_2026-07-08_14-12-12.csvcsvblockchainreporter.net-dogecoin-price-conten_2026-07-08_14-23-12.csvcsv-content-gap-us_2026-07-08_14-43-13.csvcsvblockchainreporter.net-organic-keywords-sub_2026-07-08_15-14-10.csvcsvblockchainreporter.net-top-pages-subdomains_2026-07-08_15-14-01.csvcsvblockchainreporter.net-organic-keywords-sub_2026-07-08_23-25-57.csvcsvblockchainreporter.net-top-pages-subdomains_2026-07-08_23-25-52.csvcsvblockchainreporter.net-organic-keywords-histo_2026-07-09_02-58-12.csvcsvblockchainreporter.net-organic-keywords-sub_2026-07-09_19-02-46.csvcsvblockchainreporter.net-top-pages-subdomains_2026-07-09_19-02-42.csvcsvblockchainreporter.net-content-gap-domain-us_2026-07-09_19-08-38.csvcsvgoogle_us_societe-generale-euro_serp-overview_2026-07-09_19-12-42.csvcsvgoogle_us_xrp-etf-news_matching-terms_2026-07-09_19-33-14.csvcsvgoogle_us_xrp-etf-news_related-terms_2026-07-09_19-33-21.csvcsvgoogle_us_xrp-etf-news_serp-overview_2026-07-09_19-32-05.csvcsvgoogle_us_xrpc_serp-overview_2026-07-09_19-35-29.csvcsvgoogle_us_xrpi_serp-overview_2026-07-09_19-35-13.csvcsvgoogle_us_xrp-etf-inflows-2026_serp-overview_2026-07-09_19-45-33.csvcsv

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Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.

In brief Ethereum Foundation researchers are using AI agents to red-team critical network infrastructure. The agents helped uncover a peer-to-peer software vulnerability that was later disclosed. AI-assisted audits have already surfaced bugs in blockchain projects, including Zcash. The Ethereum Foundation is using swarms of AI agents to attack Ethereum—before someone else does.

In a blog post on Thursday, Ethereum Foundation researchers on the Protocol Security team said they have deployed a series of AI agents against the software Ethereum relies on, hunting for vulnerabilities in cryptographic systems, protocol code, and smart contracts.

“We've been running coordinated AI agents against the kinds of systems the network depends on, like systems software, cryptographic code, and contracts that have to be right,” the researchers wrote. “The agents found real bugs.”

One of the bugs discovered included a remotely triggered panic in libp2p’s gossipsub, part of the peer-to-peer layer used by Ethereum consensus clients. The issue was fixed and disclosed on Github as CVE-2026-34219.

Known as red teaming, the practice involves companies deploying security researchers to attack their own systems, attempting to infiltrate or disrupt networks to uncover weaknesses before malicious hackers find them. While red teams attack a system, it's up to blue teams to defend it.

Human researchers have traditionally searched for vulnerabilities by reviewing code manually—but AI agents can scan entire codebases, test potential exploits, and generate findings for review.

“Agents finding bugs wasn't the surprise,” the team wrote. “The surprise was how little of the work went into finding them, and how much went into telling the real bugs from the ones that just looked real.”

According to the Ethereum Foundation, the agents are organized into specialized roles, including reconnaissance, hunting, gap-filling, and validation. Some search for possible attack paths, while others attempt to reproduce failures and verify whether they work against production code.

“The schema is there for a reason,” they wrote. “It forces a specific, testable claim and a clear definition of done. An agent that has to write down an observable proof can't fall back on "this looks risky."

The growing role of AI in vulnerability research was demonstrated in April, when a preview version of Anthropic’s Claude Mythos discovered 271 vulnerabilities in Mozilla’s Firefox browser.

The researchers compared AI agents to fuzzers, or tools that test software for flaws. However, unlike fuzzers, AI agents can generate vulnerability reports, assess impact, and create proof-of-concept tests.

But detailed does not always mean correct. AI-generated findings can appear convincing even when they are wrong, leaving researchers to filter out duplicates, false positives, and vulnerabilities that cannot actually be exploited.

"One rule matters more than any other. A candidate isn't a finding until there's a self-contained artifact that reproduces the failure against the real code, and that runs for someone who didn't write it," the researchers wrote. "The reproducer doesn't read the write-up, and it doesn't care how confident the model sounded. It either runs or it doesn't."

AI tools have already helped security researchers uncover flaws in blockchain networks.

In May, security researcher Taylor Hornby used Anthropic’s Claude Opus 4.8 during an AI-assisted audit that found a critical vulnerability in Zcash’s Orchard privacy pool. The flaw had existed for roughly four years and could have allowed an attacker to create counterfeit ZEC without an obvious on-chain trace. A network upgrade to restore confidence in Zcash’s supply is still in the works.

The Ethereum Foundation’s experiment brings the technology in-house, using AI agents to test its own code to find vulnerabilities.

“AI didn't replace the security researcher. It moved the work,” the Ethereum Foundation said. “Agents let us cover far more ground than we could by hand. In exchange, they ask for more careful judgment, across a much bigger pile of confident-sounding claims.”

“That's a trade worth making,” they added, “as long as you remember that the judgment is the real product.”

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In This Article What 1 Million TPS Actually Means and Why AI Agents Need ItThe Privacy Layer: Why It Matters Beyond TradersRecord On-Chain Metrics Haven't Moved BNB Crypto Price, Yet The BNB crypto Chain has published its H2 2026 technical roadmap targeting 1 million TPS (transactions per second) and sub-150-millisecond finality, positioning itself as the infrastructure backbone for an emerging AI agent economy.

The announcement lands as the BNB crypto price sits near 2024 lows, creating a sharp disconnect between on-chain momentum and market performance that every holder needs to understand.

The BNB Chain 2026 H2 Tech Roadmap is here.

After cutting BSC block intervals to 450 ms and nearly doubling benchmark throughput to ~5,200 TPS, the next target is another 2x increase on mainnet.

What's next for BNB Chain 👇🧵 pic.twitter.com/CA6hphMEy0

— BNB Chain (@BNBCHAIN) July 8, 2026

The central tension is straightforward: BNB Chain is posting record fundamental metrics while BNB, the native token, trades near its worst levels in two years.

This new Layer 1 from the BNB Chain comes as its native token, BNB crypto, is trading up +1.2% over the past 24 hours, at around $569, with a +2.5% gain over the past seven days.

What 1 Million TPS Actually Means and Why AI Agents Need It TPS refers to the maximum number of transactions a blockchain can process per second, similar to a highway’s lane count. BNB Chain currently benchmarks at around 5,200 TPS.

This follows a 2026 hard fork that reduced block intervals to 450ms and in-memory finality to 650ms. The long-term goal is to reach 1 million TPS, requiring about 20 GGas per second, with a testnet expected in late 2026 and mainnet launch in early 2027.

The architecture uses a dual-client setup with Geth for stability and a high-performance Reth engine for parallel execution. This infrastructure is essential for agentic finance, where autonomous AI agents execute DeFi activities and process multiple microtransactions.

To support this, the roadmap includes a standardized framework for AI agents, featuring a payment abstraction layer for gasless transactions and an agent registry for tracking identity and reputation.

The BNB Agent Studio and SDK have already been launched and work with tools like AWS Bedrock. BNB Chain aims to grow by focusing on stablecoins, real-world assets, and onboarding 100,000 new AI agents by 2026.

BNB Agent Studio now allows developers to plug agents into CoinMarketCap's data endpoints with one click, using @Binance Pay's B402 merchant pool.

Agents pay for each CMC data call automatically from their own wallet using x402 settled on @BNBChain without separate API keys or… https://t.co/BEq6sILV45 pic.twitter.com/x97js2Ey8k

— BSCN (@BSCNews) July 7, 2026

DISCOVER: Best Meme Coin ICOs to Invest in 2026

The Privacy Layer: Why It Matters Beyond Traders Alongside the throughput push, the roadmap introduces a protocol-level privacy framework covering native privacy for token transfers and smart contract calls.

This is base-layer privacy, not an application-level mixer bolted on top – designed to be configurable and compliance-friendly without breaking composability (the ability of DeFi protocols to interact with each other).

The target audience is institutional: market makers, high-frequency trading desks, retail payment processors, and asset managers who need confidential settlement without sacrificing regulatory auditability.

The approach is designed to deliver compliance-friendly confidentiality at the protocol level, making it meaningfully different from privacy coins that regulators have repeatedly delisted. For BNB Chain to compete for institutional flow, this layer is table stakes.

EXCLUSIVE: Earn $10 USDC Via Binance Sign-Up

Record On-Chain Metrics Haven’t Moved BNB Crypto Price, Yet $BNB: The price is still likely working on a wave-(iv) to the downside. As long as the price remains below $631, I expect lower prices. pic.twitter.com/SqkJwMUpcU

— Man of Bitcoin (@Manofbitcoin) July 7, 2026

BNB Chain shows strong fundamentals, with daily transactions reaching 31 million and a stablecoin market cap of about $14 billion. The ecosystem includes BSC, opBNB (Layer 2), and BNB Greenfield (decentralized storage).

However, the BNB crypto price has dropped to levels not seen since 2024, highlighting a disconnect between on-chain activity and token performance, similar to trends in other Layer-1s like Solana.

For BNB, price dynamics are influenced by Binance, regulatory news, and BEP-95 burn mechanics, which reduce supply. While higher activity leads to more burns, it requires sustained volume to effectively impact the token’s value.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

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Por Que a B3 Está Ampliando os Derivativos de Cripto? A bolsa brasileira B3 expandiu sua oferta regulada de derivativos de criptoativos com opções sobre futuros de bitcoin, ether e solana, oferecendo a traders locais e gestores de ativos mais um ambiente para gerenciar exposição a ativos digitais sem precisar migrar para mercados de cripto no exterior.

Os novos contratos passaram a ser negociados em 6 de julho, de acordo com um comunicado da B3. O lançamento inclui opções de compra e venda sobre futuros de bitcoin denominados em reais, enquanto os futuros de ether e solana são denominados em dólares americanos.

O lançamento adiciona mais uma camada à crescente estrutura do mercado regulado de cripto no Brasil. Em vez de oferecer custódia de cripto à vista ou liquidação direta de tokens, a B3 está construindo derivativos listados vinculados a benchmarks de cripto. Essa abordagem permite que participantes institucionais negociem exposição a preços, volatilidade e estratégias de hedge por meio de instrumentos negociados em bolsa, permanecendo dentro de um ambiente de mercado regulado.

O momento também é relevante. O Brasil já é um dos mercados de cripto mais ativos da América Latina, com forte demanda por stablecoins, produtos de investimento em cripto e acesso regulado à negociação. Ao expandir as opções vinculadas a futuros, a B3 está se posicionando como um provedor de infraestrutura local para gestão de risco em cripto, em vez de deixar as atividades de negociação mais avançadas para plataformas no exterior.

Como Funcionam os Novos Contratos? As opções são liquidadas nos contratos futuros subjacentes, não em bitcoin, ether ou solana propriamente ditos. A B3 informou que os produtos não envolvem custódia, transferência ou administração de criptoativos à vista.

Essa distinção é central para o desenho do produto. A liquidação em futuros permite que a bolsa ofereça exposição vinculada a cripto evitando os problemas operacionais associados à posse direta de tokens. Isso também dá a corretoras, gestores de ativos e traders profissionais um framework mais claro para margem, compensação e gestão de risco.

Os contratos são negociados de forma independente das 9h às 18h30, horário local, de acordo com o cronograma de negociação de derivativos da B3. O exercício é automático no vencimento quando a opção está dentro do dinheiro (in the money), a menos que o titular bloqueie o exercício.

Os 3 produtos referenciam índices de cripto da Nasdaq, segundo o anúncio. O contrato futuro de bitcoin da B3 é denominado em reais, enquanto seus futuros de ether e solana são denominados em dólares americanos. Essa divisão dá à exposição em bitcoin uma estrutura em moeda local, enquanto ether e solana permanecem vinculados à precificação em dólares.

Resumo para Investidores As novas opções de cripto da B3 dão aos investidores brasileiros uma forma regulada de negociar volatilidade e proteger exposição sem precisar tomar custódia dos tokens. A estrutura mantém os produtos mais próximos dos mercados de derivativos tradicionais do que da negociação de cripto à vista no exterior.

O Que Isso Significa Para Traders e Gestores de Ativos? Para os traders, a principal mudança é o acesso a opções listadas localmente vinculadas aos principais futuros de cripto. Isso facilita a construção de posições direcionais, o hedge de exposição em futuros, a negociação de volatilidade implícita e a estruturação de estratégias mais complexas envolvendo bitcoin, ether e solana.

Para gestores de ativos, os produtos podem ajudar a gerenciar o risco de portfólio sem depender de plataformas de opções de cripto no exterior. Um mercado listado local também pode reduzir o atrito operacional para empresas que enfrentam restrições internas sobre custódia, risco de contraparte ou negociação fora de bolsas reguladas.

O recurso de exercício automático também aproxima os produtos das práticas padrão do mercado de derivativos. Quando uma opção vence dentro do dinheiro, ela é exercida no contrato futuro subjacente, a menos que o titular bloqueie o exercício. Isso pode simplificar a execução para usuários profissionais, embora também exija gestão ativa de margem e posição próximo ao vencimento.

O desenho do produto pode atrair principalmente participantes que já compreendem a exposição a cripto baseada em futuros. Como as opções são liquidadas em futuros, e não em tokens, os usuários precisam gerenciar os riscos dos contratos futuros subjacentes, incluindo alavancagem, chamadas de margem, base e denominação em moeda.

Por Que Isso Importa Para o Mercado de Cripto do Brasil? O lançamento amplia a aposta da B3 em produtos regulados de cripto, após movimentos anteriores de listar opções de bitcoin, futuros de ether e solana, e preparar contratos de evento vinculados ao bitcoin. A bolsa está construindo um conjunto de ferramentas mais amplo em torno de ativos digitais, mantendo os produtos dentro da estrutura de derivativos listados.

Essa estratégia reflete uma tendência mais ampla na adoção institucional de cripto. Plataformas reguladas não estão apenas oferecendo exposição direta aos preços de cripto. Elas também estão construindo os instrumentos necessários para hedge, negociação de volatilidade e alocação estruturada. As opções são uma parte importante desse mercado porque permitem que os investidores gerenciem o risco de queda, expressem visões sobre volatilidade e criem posições de risco definido.

O mercado brasileiro é especialmente relevante porque a demanda local por exposição a cripto tem crescido junto com os esforços regulatórios para trazer a atividade de ativos digitais para canais financeiros formais. A expansão da B3 dá aos participantes domésticos mais ferramentas, mas também aumenta a importância da liquidez, da precificação transparente e dos controles de risco.

As novas opções não eliminam a volatilidade subjacente das criptomoedas nem a incerteza regulatória. Elas, no entanto, oferecem aos investidores profissionais uma forma mais familiar de gerenciar essa volatilidade dentro da infraestrutura de bolsa do Brasil. Para a B3, o lançamento fortalece seu papel como o principal portal regulado do país para derivativos vinculados a cripto.

In the latest close session, Diamondback Energy (FANG - Free Report) was down 2.47% at $182.00. The stock's performance was behind the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 1.3%.

Shares of the energy exploration and production company witnessed a loss of 5.06% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 3.61%, and the S&P 500's gain of 1.13%.

Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 3, 2026. It is anticipated that the company will report an EPS of $5.84, marking a 118.73% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.75 billion, up 29.28% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.33 per share and revenue of $17.9 billion. These totals would mark changes of +44.58% and +19.13%, respectively, from last year.

Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.62% lower within the past month. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 9.65 right now. For comparison, its industry has an average Forward P/E of 9.61, which means Diamondback Energy is trading at a premium to the group.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 29% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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

WD-40 Company (WDFC) Q3 2026 Earnings Call July 9, 2026 5:00 PM EDT

Company Participants

Wendy Kelley - Director of Investor Relations & Corporate Communications
Steven Brass - CEO, President & Director
Sara Hyzer - CFO, VP of Finance & Treasurer

Conference Call Participants

Aaron Reed - Northcoast Research Partners, LLC
Michael Baker - D.A. Davidson & Co., Research Division
David Shakno - William Blair & Company L.L.C., Research Division
Daniel Rizzo - Jefferies LLC, Research Division
Linda Weiser - Water Tower Research LLC

Presentation

Operator

Good day, and welcome to WD-40 Company's Third Quarter Fiscal Year 2026 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

I will now turn the call over to Wendy Kelley, Vice President, Stakeholder and Investor Engagement. Please go ahead.

Wendy Kelley
Director of Investor Relations & Corporate Communications

Thank you, and good afternoon. Thank you for joining us today. On our call today are WD-40 Company's President and Chief Executive Officer, Steve Brass; and Vice President and Chief Financial Officer, Sara Hyzer.

In addition to today's discussion, we encourage investors to review our earnings presentation, press release and Form 10-Q for the period ending May 31, 2026, available on our Investor Relations website at investor.wd40company.com. A replay and transcript of today's call will also be posted shortly. We will discuss certain non-GAAP measures today. Reconciliations to GAAP results are available in our SEC filings and earnings materials. Today's call also includes forward-looking statements. Actual results may differ materially. Please refer to the risk factors in our SEC filings for more information. Finally, please note that all information presented is current as of July 9, 2026, and we undertake no obligation to update forward-looking statements.

With that, I'll turn the call over to Steve.

Steven Brass
CEO, President & Director

Thanks, Wendy, and thanks to everyone for joining us

In the latest close session, Coca-Cola (KO - Free Report) was down 1.02% at $82.55. The stock fell short of the S&P 500, which registered a gain of 0.81% for the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 1.3%.

Coming into today, shares of the world's largest beverage maker had lost 0.23% in the past month. In that same time, the Consumer Staples sector gained 3.31%, while the S&P 500 gained 1.13%.

The investment community will be closely monitoring the performance of Coca-Cola in its forthcoming earnings report. The company is scheduled to release its earnings on July 28, 2026. In that report, analysts expect Coca-Cola to post earnings of $0.92 per share. This would mark year-over-year growth of 5.75%. Our most recent consensus estimate is calling for quarterly revenue of $13.05 billion, up 4.15% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.26 per share and a revenue of $49.33 billion, representing changes of +8.67% and +3%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Coca-Cola. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Coca-Cola currently has a Zacks Rank of #2 (Buy).

Digging into valuation, Coca-Cola currently has a Forward P/E ratio of 25.57. This valuation marks a premium compared to its industry average Forward P/E of 20.33.

We can additionally observe that KO currently boasts a PEG ratio of 3.33. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.17 as of yesterday's close.

The Beverages - Soft drinks industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 108, placing it within the top 44% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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

, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Microsoft Corporation ("Microsoft" or the "Company") (NASDAQ: MSFT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Microsoft and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until August 11, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Microsoft securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On January 28, 2026, Microsoft announced disappointing results for its fiscal second quarter ended December 31, 2025. First, during the quarter Microsoft's Azure growth had slowed suddenly and fallen below analyst expectations. During the related earnings call, CFO Amy E. Hood revealed that the slower Azure growth was primarily due to computational capacity constraints, as Microsoft had diverted CPU and GPU capacity to Copilot applications and AI-related R&D. Second, Microsoft revealed that its capital expenditures had increased to $37.5 billion during the quarter, causing Microsoft's capital expenditures for the first six months of its fiscal 2026 to increase to $72.4 billion compared to $88.2 billion for all of Microsoft's fiscal 2025. Third, Microsoft revealed, for the first time, that the number of paid Microsoft 365 Copilot seats totaled only 15 million to date, materially below analyst estimates and a fraction of the more than 450 million commercial Microsoft 365 users. 

On this news, the price of Microsoft stock fell nearly 10%.

Then, on February 3, 2026, The Wall Street Journal revealed, in an article titled "Microsoft's Pivotal AI Product Is Running Into Big Problems," that severe challenges and functionality issues had plagued Microsoft's Copilot offerings, leading to Copilot losing market share during the Class Period to competing products such as Google's Gemini. The price of Microsoft stock continued to fall in the days after Microsoft's second quarter 2026 earnings announcement as the market continued to digest the adverse news and sources such as The Wall Street Journal revealed new adverse information.

Thereafter, on March 17, 2026, The Wall Street Journal revealed in an article titled "Microsoft Seeks More Coherence in AI Efforts With Copilot Reorganization" that Microsoft was reorganizing its Copilot product teams to unify commercial and consumer versions partly in response to the challenges revealed by The Wall Street Journal's prior reporting on Copilot's problem-plagued development and disappointing customer adoption. 

On this news, the price of Microsoft stock continued to fall.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980 

SOURCE Pomerantz LLP

Disney is exploring making some content on its namesake streamer free to watch. Stefano Facchin/Alessio Morgese/NurPhoto via Getty Images Disney is exploring making some of its streaming content available at an unbeatable price: free.

The Mouse House is discussing making some content accessible on Disney+ without a paywall, according to two people familiar with the matter.

Product and tech chief Adam Smith spoke about enabling free-tier content during a streaming town hall on Thursday afternoon, one staffer said. Smith didn't share a timeline for this initiative or a sense of the scope, this person added.

A person familiar with Disney's streaming strategy said these talks are part of an ongoing discussion about concepts to better serve fans.

Currently, the Disney+ and Hulu bundle costs $12.99 a month with ads or $19.99 without ads at full price.

Free streaming services like YouTube have become popular with audiences, generating significant growth in viewership share on US-based TVs compared to their paid peers, according to Nielsen data. The three largest free streamers accounted for 18.7% of watch time on US TVs in April, up from 16.8% a year earlier and 12.7% in April 2024.

As paid streamers have raised prices, consumers have increasingly sought out free content on YouTube and on ad-supported services like Tubi and The Roku Channel. (Tubi parent Fox is planning to double down on free streaming by buying Roku for $22 billion.)

A free tier could help Disney+ stand out among paid streamers. Apple TV and Paramount+ let users sample some full episodes, but paid streaming services generally don't have robust free offerings.

Disney and its Hollywood peers are also looking to boost engagement by embracing new formats like short-form video, podcasts, and micro dramas, which are bite-sized vertical shows.

In recent months, Disney has added vertical clips to its flagship streaming app, as has Paramount+. Disney CEO Josh D'Amaro has told staffers he's prioritizing "product and technology innovation" in streaming.

Netflix announced this week that it's adding 3- to 20-minute videos next month from publishers like BuzzFeed Studios, Condé Nast, Hearst Magazines, Penske Media, and People Inc. The streaming giant made a major move into video podcasts earlier this year and has also dabbled in vertical video.

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Media Exclusive Disney More Disney Plus Hulu

Investors weren’t too eager to take a swig of PepsiCo (PEP 3.26%) after the beverage and snacks giant reported second-quarter results early on Thursday. This, despite headline figures that — depending on which consensus numbers are used — beat analyst estimates. The company’s shares slid by more than 3% that trading session, contrasting poorly with the 0.8% rise of the bellwether S&P 500 index.

Let’s tuck into PepsiCo’s quarter to find out why it was such a flat, warm can of soda for many market players.

Image source: Getty Images.

Where’s the fizz?During the quarter, PepsiCo’s net revenue was just under $24.2 billion, up 6% year over year. The company’s net income under generally accepted accounting principles (GAAP) grew much more robustly, doubling and then some to almost $2.99 billion from the year-ago profit of $1.26 billion. Yet on a per-share, non-GAAP (adjusted, or “core” in company parlance) basis, net income only inched up by 4% to $2.20. 

This meant a pair of beats for PepsiCo, though these were modest. On average, analysts tracking the stock were modeling net revenue of $23.9 billion and core earnings per share (EPS) of $2.19.

Despite the growth in key fundamentals, other metrics were lower this quarter. The company’s largest single market remains its native North America, so weakness there is always cause for concern. Second-quarter sales in the company’s food (i.e., snacks) business there fell by 2% year over year. And while revenue from its beverages rose by 7%, much of this was due to recently integrated acquisitions and partnerships. The latter included a deal with Celsius (CELH 0.24%) to distribute that company’s hotly popular drink line Alani Nu.

It’s revealing that overall volumes for North America beverages sank in spite of this, falling by 4%. And, when stripping out acquisitions and divestitures from the mix, that drinks unit saw only a 1% organic revenue gain.

In the conference call discussing the results, PepsiCo CEO Ramon Laguarta attributed the U.S. declines to changes in consumer behavior. He speculated that the soaring price of gasoline was affecting traffic at convenience stores. This is a major sales channel for the company as items like its Pepsi and Doritos are often impulse buys for customers filling their tanks or taking a rest from driving.

International flavorOn a brighter note or two, PepsiCo performed better in markets abroad. Its international beverages business saw gains in both volume (5%) and, especially, reported revenue (11%, or 9% when adjusted for foreign currency exchange). Better, since those acquisitions were concentrated on U.S. products, that overseas growth was entirely organic.

The company’s snacks also proved to be popular outside our borders. Standouts in this category were Asia Pacific and Latin America foods, which saw reported revenue growth of 15% and 12%, respectively.

So basically, PepsiCo had two diverging trajectories — the sluggishness of the North America operations, and the dynamism of its international efforts. The latter should help the company achieve growth in the coming quarters — it reiterated its guidance for full-year 2026, forecasting organic revenue growth of 2% to 4% over 2025, with a rise in core, constant-currently EPS of 4% to 6%.

Importantly for this Dividend King — PepsiCo is one of the rare companies that has declared dividend raises at least once annually for a minimum of 50 years running — it expects to distribute $7.9 billion in shareholder payouts during the year. That’s up from the $7.6 billion it spent last year. Management also intends to devote $1 billion to share buybacks.

Potential yield trapI think PepsiCo still has some way to go in order to become an investor favorite again. Those slumps in the North America business are concerning and, outside of the unlikely possibility that international growth rockets much higher, softness in that market will negatively affect both the fundamentals and investor perception of the business.

A longer-term issue for PepsiCo is that, in many ways, it’s a poster boy for unhealthy food and drink consumption. That served it well for decades, but this century’s trend — at least on our shores — is towards more considered, healthier eating and quaffing. Yes, PepsiCo has diet/no-sugar drinks and moderately better-for-you snacks. But it’s still anchored by, and strongly identified with, goodies like Pepsi and Cheetos.

As for shareholder remuneration, PepsiCo is not only a Dividend King, its payout is bubbling into high-yield territory at almost 4.3%. This, however, is largely due to a weakened share price, which, after earnings, was teasing its one-year low.

While the dividend might be an attractive draw for investors hungry for yield or sniffing around for a bargain, that wouldn’t tip me into buying the stock. I don’t see either North America beverages or food improving much, and PepsiCo’s wares aren’t popular enough abroad to offset this significantly.