Equity Research Equity Strategy 26 September 2025 U.S. Equity Strategy Food for Thought: Generative AI vs. cash generation Hyperscalers are generating enough operating cash flow to invest in AI with one hand and return cash to shareholders with the other, a stark contrast to dotcom era tech infrastructure builders. We stress-tested some capex assumptions, but believe AI investment remains on solid fundamental footing. FIGURE 1. Hyperscaler capex and buybacks remain fully funded by operating cash flows 0 100 ...

A bold call from Wall Street has put fresh attention on a fast-growing (and still speculative) artificial intelligence (AI) infrastructure play.CoreWeave (CRWV -4.96%), the artificial intelligence (AI)-focused cloud and data-center operator, has been one of 2025's most closely watched newly public names. Shares have been volatile as investors digest a surge in sales, big contracts tied to AI demand, and the costs of building capacity at breakneck speed.Adding fuel to the debate this week, Wells Fargo's Mich ...

Microsoft Corporation (NASDAQ:MSFT) is one of the 10 Best AI Stocks to Buy According to Goldman Sachs. On September 17, Microsoft Corporation (NASDAQ:MSFT) announced an agreement with AI hyperscaler Nscale and Aker worth $6.2 billion. The three companies are collaborating on a project to provide sustainable AI infrastructure for all of Europe. The deal between Microsoft, Nscale, and Aker will revolutionize the new build-out of renewable, scalable next-generation AI infrastructure in Northern Norway. The 5 ...

We recently published 10 Stocks Crushing Wall Street, AI Stocks Dominate. IREN Ltd. (NASDAQ:IREN) is one of the top performers on Tuesday. Shares of IREN Ltd. rallied to a new all-time high on Wednesday, as sentiment was bolstered by an investment firm’s bullish price coverage and rating for its stock. During the session, the stock climbed to its highest price of $49.30 before trimming gains to end the day just up by 12.86 percent at $47.14 apiece. IREN Ltd. (IREN) Soars to Fresh High as Analyst Raises ...

U.S. stocks slipped on Wednesday, with the Nasdaq losing more than 75 points, or 0.3%, to close at 22,497.85. The Dow Jones Industrial Average declined 0.37% to 46,121.28, while the S&P 500 eased 0.3% to 6,637.97.These are the top stocks that gained the attention of retail traders and investors through the day:Alibaba Group Holding Ltd. BABAAlibaba’s stock surged by 8.19%, closing at $176.44. The stock reached an intraday high of $180.16 and a low of $162.80, with a 52-week range of $80.06 to $180.16. The r ...

Jim Cramer took to X with a one-line verdict on Arm Holdings PLC ARM with a blunt assessment: "ARM-business incredibly strong." Short but loaded. Already powering nearly every smartphone chip on the planet, ARM's energy-efficient designs could make it the toll collector of the AI boom. Track ARM stock here.The Nvidia Playbook, ReloadedARM, which went public in September 2023, doesn't sell chips directly — it licenses designs. That gives the SoftBank-backed firm a capital-light, margin-rich business model. I ...

美股市场表现 - 美股期货反弹 三大指数均指向小幅高开 纳斯达克领涨约0.25% [1][3][4] - 标普500连续107个交易日未出现2%以上跌幅 创2024年7月以来最长纪录 [1] - 科技股经历周二抛售后回升 受AI乐观情绪推动 [2][7] 人工智能行业动态 - 美光科技第四财季营收113亿美元超预期 调整后每股收益3.3美元 受AI设备需求驱动 [15] - 六家投行上调美光目标价 最高达250美元 较当前165美元有51.5%上行空间 [17][18] - 阿里巴巴宣布追加500亿美元AI投资 与英伟达建立软件合作 港股涨超9% ADR涨近9% [3][9][10] - 亚洲股市接近四年高点 有望创一年来最佳月度表现 [13] 企业融资与交易 - 甲骨文计划发行150亿美元公司债 含40年期品种 为OpenAI和Meta云基础设施协议融资 [25] - 美国能源部拟通过23亿美元贷款重组获得锂美洲公司股权 该公司股价暴涨66% [24] - 阿卡迪亚制药罕见病药物试验失败 股价下跌12% [27] 美联储政策动向 - 主席鲍威尔称股市估值偏高 政策无预设路径 强调双重目标面临挑战 [20][44] - 理事鲍曼担忧劳动力市场脆弱性 暗示需加快降息步伐 认为低移民可能抑制通胀 [21][22] - 市场预期美联储年内降息 但存在过度宽松风险 或导致收益率曲线陡峭化 [47][48] 市场风险讨论 - 分析师将当前AI投资热潮与互联网泡沫类比 指出估值严重拉伸 存在周期性交易特征 [30][33][35] - 企业债信用利差处于历史低位 甲骨文债券仅较国债高40基点 风险补偿不足 [37][38] - 建议通过信用违约互换对冲风险 保险成本随利差收窄而降低 [40][41]

The major U.S. index futures are currently pointing to a modestly higher open on Wednesday, with stocks likely to move back to the upside after coming under pressure over the course of the previous session.Stocks may benefit from continued optimism about the artificial intelligence trade, which has helped lead the to record highs.A rebound by shares of Nvidia (NVDA) may generate some early buying interest, with the AI darling and market leader climbing by 0.4 percent in pre-market trading after tumbling by ...

核心观点 - 上周十只大盘股表现优异 其中Oklo Inc涨幅达5934%居首 Bullfrog BLSH涨幅3304%次之 多只股票因行业利好事件或分析师评级上调推动股价上涨 [2] 个股表现与驱动因素 - Oklo Inc OKLO周涨幅5934% 美英核能合作协议推动先进核反应堆部署预期升温 [2] - Bullfrog BLSH周涨幅3304% 第二季度财务业绩同比增长 且Cantor Fitzgerald与Rosenblatt双双上调目标价 [2] - NuScale Power Corporation SMR周涨幅2331% RBC Capital首次覆盖给予"与同业持平"评级 目标价35美元 [2] - IonQ Inc IONQ周涨幅2372% 量子计算板块因特朗普政府计划扩展量子战略报告而集体走强 [2] - Bloom Energy Corporation BE周涨幅2862% 多家分析师上调其目标价格预测 [2] - Intel Corporation INTC周涨幅217% 宣布与NVIDIA共同开发AI基础设施及个人计算产品 后者以2328美元/股价格投资50亿美元入股 [2] - Symbotic Inc SYM周涨幅1549% [2] - Rambus Inc RMBS周涨幅1527% [2] - Sandisk Corporation SNDK周涨幅1428% 瑞穗分析师Vijay Rakesh维持"跑赢大盘"评级 目标价从57美元上调至112美元 [2] - Joby Aviation Inc JOBY周涨幅1434% [2]

公司业务发展 - 公司获得CoreWeave价值110亿美元的人工智能合同 [1] - 公司计划建设价值30亿美元的人工智能超大规模园区 [1] 市场表现 - 公司股价创52周新高 涨幅达2.99% [1] - CoreWeave股价同期上涨2.77% [1] 行业地位 - 公司被华尔街评为强烈买入评级 [1] - 市场关注其是否成为人工智能基础设施骨干企业 [1] 市场关注点 - 投资者质疑公司能否兑现大规模增长承诺 [1] - 市场存在对项目投机性的担忧 [1]