Core Insights - EdgeMode Inc. has announced an extension and expansion of its partnership with Blackberry AIF, focusing on sustainable high-performance computing and renewable energy infrastructure [1][2] - The revised agreement includes the integration of Battery Energy Storage System (BESS) solutions and the acquisition of additional solar assets, significantly increasing EdgeMode's asset base and accelerating revenue generation [2][4] Partnership Expansion - The partnership now encompasses approximately 1.8 GW of total infrastructure capacity under development across Spain, enhancing EdgeMode's position as a leading developer of AI-ready data center and energy infrastructure [4][5] - The updated agreement aims to finalize a definitive agreement within 30 days, pending third-party legal reviews [3] Strategic Goals - The integration of battery storage and additional solar capacity is expected to enhance portfolio value and solidify EdgeMode's position as a fully integrated renewable and AI infrastructure platform in Europe [4] - The collaboration aims to create a competitive, scalable, and sustainable model for next-generation digital infrastructure by combining renewable generation, storage, and data center infrastructure [4]

Arctic Connectivity & Security - Greenland's prime minister urges the European Union to enhance cooperation on connectivity in the Arctic region [1] - The call aims to prevent "unauthorized parties" from disrupting Greenland's digital infrastructure [1]

Fundraising - Manulife Investment Management 基础设施基金募集到 55 亿美元，创历史新高 [1] Investment Focus - 投资者对数字基础设施、能源和交通运输资产的投资兴趣日益浓厚 [1]

Group 1 - Empire Asset Management adjusted its rating for Brookfield Asset Management (BAM) to Neutral, maintaining a hold action, with BAM's stock price around $57.35 [1][5] - Bank of America revised its price target for BAM, lowering it from $68 to $67 [1] - BAM's business model is characterized as high-growth and asset-light, leveraging trends such as digital infrastructure, deglobalization, and decarbonization [2] Group 2 - In Q2, BAM reported a 16% year-over-year increase in fee-related earnings, supported by significant capital inflows of $97 billion over the past year [2][5] - The current price-to-distributable earnings (DE) multiple for BAM is 38x, but projected annual DE growth of 18% could reduce this multiple to 16x by 2030 [3][5] - BAM's stock price fluctuated between a low of $56.86 and a high of $57.38 on the day, with a market capitalization of approximately $92.5 billion [4]

Group 1 - The demand for digital infrastructure, particularly data centers, is on the rise, with various types of developments emerging in the market [1] - Jennifer, a key figure in the analysis, has expertise in energy, evolving infrastructure networks, and resources issues affecting economies, indicating a multidisciplinary approach to investment [1] - The strategic communications and advisory firm, Concept Elemental, founded by Jennifer, focuses on innovation, technology, and the impact of shale oil and natural gas [1] Group 2 - Jennifer has a strong background in financial services, having spent 15 years in strategy, data analytics, and marketing, which enhances her analytical capabilities [1] - Her academic credentials include a master's degree from the London School of Economics and a bachelor's degree in finance/marketing, providing a solid foundation for her research [1] - Recent speaking engagements highlight her focus on energy, the new economy, and the impact of AI, showcasing her thought leadership in these areas [1]

Core Insights - The data center industry is experiencing significant growth driven by the demand for artificial intelligence, with estimates suggesting a potential increase in global data center needs by 100 gigawatts by 2030 [2][3] - Despite the overall growth in the sector, not all companies are benefiting equally, with some facing challenges such as poor execution and heavy debt, leading to sharp declines in their stock prices [3][4] Group 1: Industry Overview - Goldman Sachs and McKinsey & Company emphasize the critical role of high-density data centers in the AI race and as foundational infrastructure for digital services [1][2] - The demand for AI capacity is rising rapidly, creating a significant opportunity for data center operators [2] - The power requirements for data centers are projected to nearly triple from 68 to 196 gigawatts in the coming years, highlighting the need for investment in power solutions [10] Group 2: Company Performance - DigitalBridge Group Inc. is one of the worst-performing data center stocks in 2025, with a year-to-date return of only 4.6%, despite being a major player in the digital infrastructure space with over $96 billion in assets [8][9] - NetApp Inc. has a year-to-date return of 3.3%, struggling to keep pace with the broader market due to competition from pure-play cloud providers, although its hybrid model remains appealing to enterprises [12][15] - Analysts have a cautious outlook on NetApp, with two-thirds holding a Neutral rating, while the company maintains a growth forecast of 2% for the next quarter and 3% for the year [13][15]

Group 1 - KKR & Co. Inc. is recognized as one of the best dividend stocks to buy, with Piper Sandler reaffirming its Overweight rating and setting a price target of $166 [1][2] - The firm highlighted stronger transaction volumes across various business areas, attributing this growth in deal momentum as a key factor for its positive outlook on KKR [1][3] - Digital infrastructure is identified as a core strength for KKR, presenting a "multi-year opportunity," along with the potential growth in the 401K market [2][3] Group 2 - Despite the favorable overall outlook, KKR's insurance operations are facing near-term pressures due to tight asset spreads and intense competition on the liability side [3] - The insights from Piper Sandler followed a meeting with KKR's CFO Rob Lewin, which reinforced the constructive perspective on the company's business momentum and growth opportunities [3]

Core Insights - Southern Company is a major energy provider in the U.S., operating through various subsidiaries, including Southern Telecom, and competes with Duke Energy and NextEra Energy in the utility sector [1] Financial Summary - On September 25, 2025, Morgan Stanley's David Arcaro set a price target of $92 for Southern Company, indicating a slight overvaluation as the stock was trading at $93.80, reflecting a -1.91% difference [2] - The current stock price is $93.77, showing a decrease of approximately 0.68% from the previous day [2] - The stock has declined by $0.65 today, with a trading range between $93.63 and $95.06 [4] - Over the past year, the stock has fluctuated between a high of $96.44 and a low of $80.46 [4] - The company's market capitalization is approximately $103.15 billion, with a trading volume of 2,891,135 shares today [4][5] Strategic Developments - Southern Telecom, a subsidiary of Southern Company, has partnered with Seimitsu to launch SouthernWaves, a new fiber-optic network service aimed at enhancing digital infrastructure in the Southeastern U.S. [3][5] - This partnership combines Southern Company's dark fiber offerings with Seimitsu's lit services, supporting initiatives like the South Downtown Atlanta project [3]

Core Insights - Marvell Technology's carrier infrastructure end market is on a recovery path, driven by strong demand and product refreshes [1][4] Group 1: Market Performance - The carrier infrastructure end market grew 71.4% year over year in Q2 of fiscal 2026, reaching $130 million, supported by normalized customer inventories and advanced product adoption [3][8] - Management anticipates double-digit sequential growth in the carrier infrastructure segment for Q3, indicating ongoing momentum [4][8] Group 2: Competitive Landscape - Marvell Technology competes with Broadcom and Qualcomm in the carrier infrastructure market, with Broadcom holding a strong position in carrier Ethernet and transport markets, while Qualcomm focuses on baseband processors [5][6] - The market presents opportunities for all three companies to expand their offerings in the carrier infrastructure space [6] Group 3: Financial Metrics - Marvell Technology's shares have decreased by 32.4% year to date, contrasting with the Electronics - Semiconductors industry's growth of 33.9% [7] - The company trades at a forward price-to-sales ratio of 7.17X, which is lower than the industry average of 9.3X, indicating potential valuation attractiveness [9] - The Zacks Consensus Estimate projects year-over-year earnings growth of 77.7% for fiscal 2026 and 27.73% for fiscal 2027, with upward revisions in estimates over the past 30 days [10]

Investor Sentiment & Market Trends - Investor enthusiasm for data centers and AI is growing, with expectations that revenues will match or exceed expenditures in the coming years [1][2][3] - Investors are seeking diversification beyond the "Magnificent Seven" tech companies, looking for exposure to other semiconductor companies and data owners involved in the AI space [5][6] - AI is considered a long-term investment theme expected to drive markets for the next decade and beyond, despite potential short-term anxieties [15] ETF Performance & Strategy - One actively managed ETF has attracted over $5 billion this year, becoming the largest AI ETF in the United States, focusing on digital infrastructure, hardware producers, and data owners [2] - Actively managed funds can provide value by looking beyond consensus views and identifying emerging names in the AI ecosystem, globally [7][8] - The iShares innovation and tech actively managed ETF has seen accelerating fund flows, indicating a lack of significant anxiety among investors [14] Energy Sector & AI - There's increasing interest in various energy sources (nuclear, fossil fuels, renewables) to power the AI trade, viewing utilities through a forward-looking lens [11] - Investors are broadly considering the entire energy value chain, including necessary energy fuels, producers, and distribution methods [13] Company Strategy & Fundamentals - Leading technology companies with low costs of capital and access to dollars have a significant advantage in leveraging their strengths in the AI space [4] - Earnings direction is more important than current revenue for large language model developers, focusing on subscriber growth, model development, and corporate penetration [16][17]