Core Insights - Flex Ltd. has launched its Modular Rack-Level Cooling Distribution Unit (CDU) through its liquid cooling subsidiary, JetCool, marking a significant addition to its cooling solutions portfolio [1][9] - The new CDU is designed to meet the demands of modern data centers, focusing on scalability, efficiency, flexibility, and ease of integration [2][3] - Flex aims to generate approximately $6.5 billion in data center revenues, reflecting a year-over-year growth of at least 35%, which constitutes 25% of its total revenues [8][9] Product Features - The Modular Rack-Level CDU supports configurations of 2 to 6 CDUs per rack, providing cooling capacities ranging from 600 kW to 1.8 MW, and operates at 1–1.5 LPM/kW [3] - It allows for mixed configurations of CDUs, servers, and storage, optimizing rack space and maximizing compute density [3][4] - The vertically integrated approach of Flex's liquid cooling solutions ensures seamless scalability and operational ease, with standardized design elements and in-house production [4][5] Market Strategy - Flex is aggressively expanding into the high-growth data center market, offering a comprehensive range of IT hardware and infrastructure solutions [6] - The company has partnered with Renesas to develop next-generation board-mounted power management solutions, enhancing its capabilities in the data center sector [7] - Despite facing macroeconomic challenges and tariff-related costs, Flex is implementing proactive pricing measures to mitigate impacts on cash flow and margins [9][10] Competitive Landscape - Flex's peers, such as Jabil and Celestica, are also positioned to benefit from the growing demand in AI data center infrastructure, although they face their own set of challenges [12][14] - Jabil is expected to gain from robust demand across multiple sectors, while Celestica anticipates significant revenue growth driven by AI-driven investments [12][14] - Competition remains intense in the electronics manufacturing services sector, with several companies vying for market share [15]

Group 1 - Flex has transitioned from a low-margin contract manufacturer to a solution-oriented operator, capitalizing on strong secular trends such as AI and cloud infrastructure [1] - The Agility Solutions segment has achieved significant success through multi-year hyperscale victories, indicating robust growth potential [1] Group 2 - The company has a diverse financial analysis background, with experience across various sectors including Auto, Industrials, and IT, which enhances its strategic insights [1]

Core Insights - Flex has launched a new Modular Rack-Level Cooling Distribution Unit (CDU) designed to meet the increasing demands of AI, high-performance computing (HPC), and hyperscale workloads [2][3] - The Modular Rack-Level CDU offers scalable cooling capacity ranging from 600 kW to 1.8 MW, allowing data center operators to start small and incrementally add capacity as needed [3][10] - This product is part of Flex's broader strategy to enhance its cooling solutions portfolio, with a dedicated in-row CDU expected to be released in April 2026 [2][8] Product Features - The Modular Rack-Level CDU can accommodate 2 to 6 CDUs per rack, providing flexibility in thermal loading and space efficiency [10] - It operates at a rate of 1 to 1.5 liters per minute per kilowatt (LPM/kW), supporting various hardware and workloads [10] - The design preserves rack space while maximizing compute density, and it supports mixed configurations of CDUs, servers, and storage [10] Strategic Approach - Flex's vertically integrated solution simplifies procurement and maintenance, reducing vendor complexity and accelerating time-to-market [6][7] - The company emphasizes an end-to-end approach from design to deployment, ensuring consistent quality and faster implementation for customers [7] - Comprehensive warranty and global support options are provided to enhance customer confidence in the deployment of high-performance cooling solutions [7]

Core Insights - Flex Ltd. has experienced a significant stock surge of 75% over the past year, outperforming the Zacks Electronics - Miscellaneous Products industry, the Zacks Computer and Technology sector, and the S&P 500 composite, which grew by 7.5%, 31.2%, and 18.8% respectively [1] - The company has also outperformed several peers, with its stock closing at $58.65, near its 52-week high of $58.8 [2] Company Overview - Flex is based in Singapore and operates with a diverse workforce across 30 countries, providing advanced manufacturing solutions and a wide array of services including design, engineering, and circular economy solutions [3] - The company has transformed into an end-to-end solutions provider, offering services from design to supply chain integration across various products, including electronics and athletic footwear [4] Competitive Advantages - Flex's global manufacturing scale is a key competitive advantage, operating over 49 million square feet worldwide, with significant facilities in the U.S. and Mexico [5] - The company utilizes AI-enabled systems and advanced automation to enhance speed, flexibility, and resilience, particularly in regulated markets such as automotive, healthcare, and industrials, which account for approximately 75% of total revenues [5] Growth Strategy - Flex is aggressively expanding into the high-growth data center market, targeting $6.5 billion in revenue with at least 35% growth, which will represent 25% of total sales [8][11] - Recent acquisitions, including JetCool and Crown Systems, are aimed at enhancing its capabilities in liquid cooling and power solutions for data centers [12] Financial Performance - Flex's shares are currently trading at a price/earnings ratio of 20.62, which is lower than the industry average of 25.36, indicating a potential valuation opportunity [15][18] - The company has raised its fiscal 2026 outlook, driven by strong data center momentum and expanded power capacity in Europe [19]

Core Insights - Flex Power Modules is partnering with Renesas to develop next-generation board-mounted power management solutions for various computing components, including CPUs, GPUs, FPGAs, ASICs, and accelerator cards that cater to AI workloads [1][2][3] Group 1: Collaboration Details - The collaboration aims to integrate advanced power stages from Renesas with Flex Power Modules' design capabilities, enhancing design cycle speed, saving PCB space, and reducing costs [3] - The partnership will enable rapid delivery of innovative power solutions at scale, addressing the evolving compute requirements in data centers [3][5] Group 2: Product Offerings - New vertical power delivery (VPD) products will be introduced, focusing on maximizing efficiency, improving transient response, and optimizing thermal performance for data center processors [3][4] - The companies will also work on high-density power modules that combine Renesas smart power stages with Flex's DC/DC converters, supporting configurations from two-phase to 32-phase [5] Group 3: Market Positioning - Flex Power Modules is positioned as a leading manufacturer of scalable DC/DC power converters, serving markets such as data processing, communications, industrial, and transportation [7] - The collaboration is part of Flex's broader strategy to address power, heat, and scale challenges in the AI era, enhancing data center deployment capabilities globally [5][6]

Core Viewpoint - Cboe Europe Derivatives (CEDX) plans to launch Cboe Flexible Exchange (FLEX) options in Europe in Q1 2026, aiming to provide tailored risk management tools for institutional investors [1][7]. Group 1: Product Features - FLEX options allow customization of key contract terms such as strike price, expiration date, settlement type, and exercise style for options on stock indices, individual equities, and ETFs within a regulated exchange environment [2]. - These products combine the flexibility of over-the-counter derivatives with the transparency and efficiency of exchange-traded products [2]. Group 2: Market Context and Growth - Cboe has a strong track record in options innovation, having introduced FLEX options to the U.S. market in 1993, with total open interest increasing from 2 million in 2019 to 35 million in 2025 [3]. - The assets under management in U.S. defined-outcome ETFs have surged from $5 billion in 2019 to over $70 billion in 2025, indicating a growing demand for customized investment strategies [3]. Group 3: Launch Plans and Partnerships - At launch, CEDX will offer FLEX options on select underlyings, including single country and pan-European equity indices, individual equities, and ETFs, with plans for expansion throughout 2026 [4]. - The launch is supported by First Trust Global Portfolios and Vest Financial, both of which are new to the European market [5]. Group 4: Industry Impact - The introduction of FLEX options is expected to enhance the range of exchange-traded tools available to European investors, enabling better risk management and tailored investment strategies [5][6]. - Cboe's expertise in options and robust infrastructure positions it well to support issuers and market participants in expanding these offerings across Europe [5].

Group 1: Fund Performance - Sound Shore Management's Investor Class (SSHFX) and Institutional Class (SSHVX) delivered returns of 3.06% and 3.10% respectively in Q2 2025, compared to 3.79% for the Russell 1000 Value Index and 10.94% for the S&P 500 [1] - The 35-year annualized returns for SSHFX and SSHVX were 14.92% and 15.14% respectively as of June 30, 2025, outperforming the Russell Value at 12.76% but trailing the S&P 500 at 19.71% [1] Group 2: Flex Ltd. Overview - Flex Ltd. (NASDAQ:FLEX) is a technology company providing innovation, supply chain, and manufacturing solutions, with a one-month return of 17.42% and a 52-week gain of 95.98% [2] - As of September 10, 2025, Flex Ltd. closed at $58.05 per share, with a market capitalization of $21.708 billion [2] Group 3: Flex Ltd. Investment Insights - The demand for semiconductor chips is driven by the potential of AI technology, necessitating more data centers and electricity, benefiting Flex Ltd. as a supplier [3] - Flex Ltd. was noted as the best performer for Sound Shore Management over the last three months and year-to-date [3] - Despite its potential, Flex Ltd. is not among the 30 most popular stocks among hedge funds, with 55 hedge fund portfolios holding it at the end of Q2, up from 46 in the previous quarter [4]

Company Overview - Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG) [1] - The company operates a fleet of thirteen state-of-the-art LNG carriers equipped with the latest generation two-stroke propulsion systems (MEGI and X-DF) [1] - These modern ships provide significant improvements in fuel efficiency and a reduced carbon footprint compared to older steam and four-stroke propelled vessels [1] Recent Developments - CFO Knut Traaholt will present at the 32nd Energy Conference in Oslo, hosted by Pareto Securities [1] - The presentation is available on the company's website [1] Financial Information - Flex LNG is listed on the New York Stock Exchange under the ticker FLNG [1] - The company announced its unaudited financial results for the six months ended June 30, 2025, indicating ongoing financial activities [4]

Core Insights - Flex has been included in the TIME World's Best Companies 2025 list for the third consecutive year, highlighting its strong performance and commitment to sustainability [1] - The recognition reflects Flex's focus on employee satisfaction, revenue growth, and responsible business practices, evaluated through data collected from 200,000 participants [1] Company Overview - Flex is recognized as a manufacturing partner that aids a diverse customer base in designing and building products aimed at improving the world [2] - The company operates across 30 countries, leveraging a global workforce to deliver technology innovation, supply chain, and manufacturing solutions [2]

Group 1 - The data center market is a significant focus for Flex, representing nearly 20% of its revenue, with a total business of $4.8 billion last year [1] - Out of the $4.8 billion, $3.5 billion was related to assembly services, while $1.3 billion was attributed to power solutions [1] - The breadth of Flex's customer base in the data center sector is a key factor driving its growth and positioning in the market [1]