As filed with the Securities and Exchange Commission on October 6, 2025 Registration No. 333-284331 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 5 Form S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ IRON HORSE ACQUISITION II CORP. (Exact name of registrant as specified in its charter) ____________________ | Cayman Islands | 6770 | 98-1885362 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R ...

Core Insights - ServiceNow, Inc. (NYSE:NOW) is highlighted as a strong performer in the software-as-a-service (SaaS) sector, particularly in workflow management automation [2] - Jim Cramer emphasizes the potential impact of government furloughs on companies like ServiceNow, noting that while the company is currently thriving, its target customers may be affected by these furloughs [2] - Cramer believes that ServiceNow is uniquely positioned to succeed in the AI landscape, distinguishing it from other companies in the sector [2] Company Overview - ServiceNow, Inc. is recognized for its role in helping the US government manage data releases, showcasing its relevance in public sector operations [2] - The company is led by CEO Bill McDermott, who is noted for driving impressive business performance [2] Market Context - The discussion around ServiceNow occurs in the context of broader economic concerns, particularly the potential furlough of over a million government employees, which could influence demand for its services [2] - Cramer compares ServiceNow to other tech companies like Palantir, suggesting that while both are performing well, the impact of government employment changes could be a concern for their customer base [2]

Core Insights - ARK Invest is investing in Securitize, a tokenization specialist, as the trend of tokenization gains momentum in the financial sector [1][4]. Investment Details - The ARK Venture Fund (ARKVX) holds 3.25% of its assets in Securitize, making it the fund's eighth largest position [2]. - As of September 30, ARK's net assets under management were $325.3 million, valuing its stake in Securitize at approximately $10 million [3]. Market Trends - Tokenization is emerging as a significant trend in the crypto space, with traditional financial instruments being brought onto blockchain platforms [4]. - The tokenized asset market has increased by 112% to $33 billion year-to-date and is projected to reach $18.9 trillion by 2033 [5]. Company Background - Securitize, founded in 2017, has issued $4.6 billion in tokenized assets and collaborates with major financial institutions like BlackRock and Apollo [6]. - The firm is involved in equity tokenization and has created on-chain shares for various companies [7].

Core Insights - Advanced Micro Devices (AMD) has formed a significant strategic partnership with OpenAI, which is expected to enhance its position in the AI chip market [4][5][10] - The partnership involves OpenAI installing 6 gigawatts of AMD GPUs, starting with 1 gigawatt of AMD Instinct MI450 series chips in 2026 [5][10] - AMD's stock surged by 30% following the announcement of this partnership, indicating strong investor confidence [3][10] Company Developments - AMD's stock has increased by 154% since the rise of AI, contrasting sharply with Nvidia's 1,180% increase during the same period [3] - The partnership with OpenAI includes a warrant for OpenAI to purchase up to 160 million shares of AMD, representing about a 10% stake in the company [7][8] - AMD's revenue from this deal is projected to be worth tens of billions of dollars, significantly impacting its financial outlook [10] Industry Context - OpenAI, valued at approximately $500 billion, is one of the largest buyers of high-end AI-centric chips, which positions AMD favorably in the competitive landscape [9] - The addressable market for generative AI is estimated to reach $15.7 trillion annually by 2030, presenting a substantial opportunity for AMD [12] - AMD's pricing at roughly 35 times next year's sales is considered attractive in light of the growing AI market [13]

Core Insights - Prediction markets are gaining traction in the mainstream, with Myriad aiming to embed its protocol widely, similar to MoonPay's strategy in crypto payments [1] - Myriad has achieved significant trading volume, reaching $18.5 million in USDC with over five million trades shortly after surpassing $10 million [1][2] - The platform is designed to grow organically, focusing on real user engagement and incentivizing content creation that resonates with users [2] Company Developments - Myriad has launched perpetual sentiment markets, which have quickly generated over $760,000 in transactional volume, evolving from a novelty to a productive social experiment [3] - The platform incorporates technological innovations, including the presence of AI agents trading on Myriad, although the effectiveness of AI compared to human traders remains uncertain [4] Market Dynamics - Myriad's fee structure is designed to discourage negative trading behaviors, with fees directed to liquidity providers, enhancing the quality of market engagement [2] - The platform's focus on creating relevant and engaging event contracts has led to higher conversion rates among users [2]

Core Viewpoint - The AI market is projected to grow significantly, potentially reaching trillions of dollars, with companies like Nvidia positioned for long-term growth and market dominance [1][4]. Group 1: AI Market Growth - The AI boom is currently in its early stages, focusing on building capacity and training models, with future growth expected from the application of AI across various industries [2]. - Analysts predict that the AI market, currently valued in billions, will expand to trillions in just a few years [4]. Group 2: Nvidia's Market Position - Nvidia has seen its stock increase by 1,200% over the past five years, making it the world's largest company with a market value exceeding $4 trillion [4]. - Nvidia is recognized as the leading AI chip designer and has diversified its offerings to become a key player in AI platform development [5]. Group 3: Innovation and Partnerships - Nvidia is committed to annual updates of its graphics processing units (GPUs), maintaining a competitive edge over rivals [6]. - The company has established partnerships, such as a $5 billion investment in Intel, integrating Nvidia's GPU technology into Intel's systems, which enhances Nvidia's market reach [8]. - Nvidia's planned $100 billion investment in OpenAI aims to support infrastructure expansion and increase demand for Nvidia chips [9]. Group 4: Financial Performance - Nvidia successfully launched its Blackwell architecture and chip, achieving double-digit revenue growth and maintaining gross margins above 70% [10]. - The stock is currently trading at 41 times forward earnings estimates, indicating potential for further growth [12].

Advanced Micro Devices, Inc.’s (NASDAQ: AMD ) new partnership with OpenAI might be one of the biggest announcements of the year for the semiconductor industry. The deal instantly repositions AMD as a seriousI’m passionate about finance and investing, focusing on business analysis, fundamental analysis, valuation, and long-term growth, especially in sectors like AI, fintech, finance and tech. I study finance and economy and have hands-on experience in equity research, financial modeling, and creating investm ...

Core Viewpoint - Iron Mountain, a REIT focused on document management and expanding its data center business, experienced a share price increase of over 10% in September, driven by positive financing news and bullish analyst recommendations [1]. Financing Developments - Iron Mountain announced a new issue of senior notes with an initial aggregate principal amount of 750 million euros ($880 million), intended to retire older senior notes maturing this year [3]. - The company subsequently upsized the issue to 1.2 billion euros ($1.4 billion) with a nearly 4.8% interest rate, maintaining the 2034 maturity and planned use of proceeds [4]. Business Strategy and Market Position - The increased cash flow from the debt offering supports Iron Mountain's pivot towards the data center segment, which is in high demand due to the growth of secure digital infrastructure and the AI revolution [5]. - Analyst Shlomo Rosenbaum from Stifel reiterated a buy recommendation with a price target of $140, indicating confidence in a turnaround for the data center leasing business by 2026 [6][7]. Analyst Coverage - Jefferies initiated coverage of Iron Mountain with a buy recommendation and a price target of $120, reflecting positive sentiment in the market [9].

Core Insights - Duquesne Family Office's billionaire boss, Stanley Druckenmiller, has shifted investments from high-flying AI stocks like Nvidia and Palantir to Taiwan Semiconductor Manufacturing Company (TSMC) and Teva Pharmaceutical Industries, indicating a strategic pivot towards more stable sectors [1][14]. Investment Strategy - Druckenmiller has opened 45 new positions and adjusted existing holdings over the last four 13Fs, with significant changes in his portfolio [4]. - The decision to sell all shares of Nvidia and Palantir reflects a profit-taking strategy amid their substantial price increases, with Nvidia's shares rising nearly 1,200% and Palantir's by over 2,800% since the beginning of 2023 [6][9]. Company Performance - Nvidia is recognized as a leading supplier of AI GPUs, with a current market valuation approaching $5 trillion, while Palantir's software platforms are integral to government and business operations [7][8]. - Despite their competitive advantages, Druckenmiller's exit from these positions suggests concerns over potential market corrections and high valuations, with Nvidia's price-to-sales (P/S) ratio nearing 30 and Palantir's at an extraordinary 137 [13]. New Investments - TSMC has become a key holding for Duquesne, driven by its role in AI chip production and its diversified product offerings beyond AI, making it more resilient to market fluctuations [15][16]. - Teva Pharmaceutical has seen a turnaround after addressing litigation issues and reducing debt, with a focus on novel drug development, positioning it as a strong investment with a low forward price-to-earnings ratio [17][18][22].

Core Viewpoint - In a rate-easing cycle, dividend stocks yielding above 5% are becoming more attractive for income investors, but high yield does not guarantee a good investment [1] Group 1: Mapletree Industrial Trust (MIT) - MIT is a REIT focusing on data centres and industrial properties, with a DPU of S$0.0327 for 1QFY25/26, reflecting a 4.7% YoY decline [2] - The current share price is S$2.16, resulting in a yield of 6.2% [2][3] - Occupancy rate is resilient at 91.4%, with a positive rental reversion rate of 8.2% across Singapore properties [3] - MIT has an aggregate leverage ratio of 40.1% and total borrowings of S$3.7 billion, with 79.7% of its debt fixed and hedged [3] - 54.8% of its AUM is tied to data centres, with a strategic shift towards DCs and logistics projects in Asia [4] Group 2: Singapore Airlines (SIA) - SIA has resumed paying dividends post-pandemic, with a cumulative dividend of S$1.26, representing 19% of its current share price of S$6.55 [6] - The latest dividend payment of S$0.40 per share for FY2024/2025 shows a 16.7% YoY decrease [6] - The trailing yield is 6.1% at a share price of S$6.57 [7] - The passenger load factor was 88.0% in August 2025, up from 85.7% YoY, but down from previous months [8] - Net profit decreased by nearly 59% YoY due to rising non-fuel costs, while net operating cash flow remains robust at S$4.71 billion [8][9] Group 3: Venture Corporation - Venture Corporation is a global electronics manufacturing services company with a strong dividend track record, paying S$0.75 per share annually since FY2020 [10] - The current share price is S$14.25, yielding 5.6% [11] - The company reported a net operating cash flow of S$149.8 million in 1H2025, reflecting an 11.9% margin [11] - The diverse manufacturing portfolio includes high-growth areas like life sciences and medical technology [12] Group 4: Comparative Analysis - MIT is characterized as a stable REIT with strong growth drivers in data centres and logistics [13] - SIA is identified as a cyclical business reliant on travel demand [13] - Venture Corporation is noted for its consistent dividend payments linked to global electronics cycles [13]