July 15, 2025 03:21 PM GMT Crypto-to-DC Conversion Analysis MORGAN STANLEY RESEARCH July 15, 2025 Morgan Stanley & Co. Stephen Byrd Global Head of Thematic & Sustainability Research Stephen.Byrd@morganstanley.com +1 212 761-3865 Jamil Ohayia Global Thematic Strategist Jamil.Ohayia@morganstanley.com +1 212 761-4776 Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affe ...

Global Data Center Capacity Growth to Increase 6x Given the surge in AI capex - led by the Big 4 US Hyperscalers - we introduce our Global Data Center Model, which projects worldwide data center capacity growth of +23% pa until 2030. However, our latest AlphaWise survey suggests energy is not the only constraint to building new / bigger data centers. Our new Global DC screen highlights stocks - by geography and sub- sector - exposed to this theme. M Key Takeaways M Global Insight Global Infra, Tech, Utiliti ...

Investment Rating - The report assigns a "Buy" rating for Innolight with an updated 12-month target price (TP) of Rmb182, increased from Rmb160 [1][4]. Core Insights - Innolight's net profit for Q2 reached Rmb2.4 billion, marking a 79% year-over-year increase and a 53% quarter-over-quarter increase, indicating a re-acceleration in growth [1]. - The company anticipates strong demand for its products, particularly in the 800G and 1.6T segments, driven by cloud service providers and AI applications [2][11]. - Margin expansion is attributed to a better product mix and improved yields, contributing significantly to the strong Q2 performance [3][10]. Summary by Sections Financial Performance - Revenue estimates for 2025E-2027E have been revised up by 6% to 12%, and net profit estimates have been increased by 12% to 22% following better-than-expected Q2 results [4][8]. - The gross margin is projected to improve to 40.1% in 2025E, up from a previous estimate of 38.5% [8]. Demand Outlook - The company has reaffirmed a strong demand outlook from US cloud service providers for 800G products heading into the second half of 2025 and 2026, with some customers increasing orders to support AI applications [2][11]. - Innolight plans to expand its production capacity in Thailand to meet the anticipated demand [2]. Margin Improvement - The report highlights that margin improvement is driven by a shift towards higher-margin products such as 800G/1.6T optical transceivers and silicon photonics modules [3][10]. - The company is experiencing better yields, which further supports margin expansion [3]. Competitive Position - Innolight is positioned as a leading supplier in the optical transceiver market, particularly benefiting from the growth in AI and data center expansions [10][11]. - The company's strong execution in ramping up capacity and developing new products is seen as a key competitive advantage [11][13].

Elon Musk’s xAI, is in discussions to lease data center capacity in Saudi Arabia as part of an effort to expand its infrastructure in regions offering cheap energy and political goodwill https://t.co/55Q3H9nsTQ ...

Core Viewpoint - Palantir Technologies Inc has received an upgrade from Mizuho, moving from "underperform" to "neutral," with a price target increase from $116 to $135, indicating positive sentiment ahead of earnings [1] Group 1: Stock Performance - The stock is currently trading at $149.86, reflecting a 0.9% increase [1] - Year-to-date, the stock has surged by 96.3% in 2025 and shows a remarkable 417.7% increase year-over-year [1] - The shares reached a record high of $150.62 recently, with a 40-day moving average providing consistent support since mid-April [1] Group 2: Analyst Ratings and Expectations - Despite the strong performance, 17 out of 20 analysts rate the stock as "hold" or worse, with a 12-month consensus target price of $106.46, representing a 28.2% discount to current levels [2] - The stock has historically outperformed analysts' volatility expectations, as indicated by a Schaeffer's Volatility Scorecard (SVS) rating of 84 out of 100 [2] Group 3: Revenue Growth Potential - Analysts are optimistic about Palantir's potential to accelerate revenue growth for a fifth consecutive quarter when it reports Q2 results in early August [1]

DDN's AI Infrastructure Strategy - DDN is scaling AI infrastructure to meet growing demands [1] - DDN is transforming storage into a data intelligence platform [1] - DDN is fueling national AI strategies, indicating a focus on sovereign AI and national data control [1] AI Applications and Use Cases - DDN is powering various applications, including digital twins and robotics [1] - Real-world AI use cases span finance, healthcare, autonomous vehicles, and defense [1] Company Focus and Vision - DDN, a billion-dollar company, remains mission-focused despite industry hype [1] - The discussion extends beyond AI to the underlying infrastructure driving global transformation [1]

Key Takeaways PPL and Blackstone JV will build gas-fired plants to serve data centers via long-term energy contracts. PPL sees 60 GW of data center interest in its zone, with 13 GW in advanced stages and a 6 GW supply gap ahead. It targets sites atop major shale basins with strong pipeline access and no exposure to market price swings.PPL Corporation (PPL) announced that it has formed a joint venture (“JV”) with Blackstone Infrastructure to build, own and operate new gas-fired, combined-cycle generation s ...

Debt Burden & Credit Rating - Senegal's debt burden led to a second credit downgrade in five months [1] - Barclays suggests Senegal's debt burden may ease after a planned economic data reset later this year [1]

Grid Challenges and Opportunities - The US electrical grid is aging and brittle, with an aged-out workforce, leading to delivery cost problems [1] - The US grid effectively froze in the early 2000s due to manufacturing moving to Asia, leading to a loss of skills in building new power projects [1] - Interconnection for new projects can take a decade due to grid capacity issues and transformer technology limitations [1] - There's very little visibility into the grid, especially at the distribution level, complicating the integration of new projects and distributed energy resources [2] Energy Mix and Future Trends - The energy grid of the future will be more decentralized, with generation, transmission, and storage potentially happening in the same place [2] - Solar and batteries are becoming increasingly important due to their low cost and ability to be deployed quickly, with Texas doubling its solar capacity in approximately three years [3] - The industry needs all different types of energy, including base load dispatchable power like gas, nuclear, and geothermal [3][4] - The US needs to invest in battery technology and manufacturing to avoid reliance on foreign sources [3] Technology and Policy - AI can help facilitate more efficient electricity use, better grid monitoring, and streamlined regulatory and permitting processes [2] - The United States needs to move incredibly fast to hook up batteries, solar panels, and make it easier and cheaper to do so [3] - The US needs to get better at mega projects, requiring technology at every layer and phase of how these projects get built [1][7] - There is a need for a venture-scale software company around grid management and monitoring infrastructure, similar to Splunk or Palo Alto Networks for IT and OT [7][8] Nuclear Energy - Nuclear energy is now widely acknowledged as clean energy, but still faces political headwinds [6] - Streamlining the approval process for new reactor designs is crucial [6] - Small modular reactors (SMRs) and micro reactors offer flexibility and grid resilience, with potential applications in military and disaster relief [6] - The United States needs to get better at mega projects, requiring technology at every layer and phase of how these projects get built [7] National Security - A resilient, reliable, dispatchable electrical grid is critical to US national security [24] - There is no safety, national defense, or national security without a reliable electrical grid [1][25]

Singapore, Singapore--(Newsfile Corp. - July 16, 2025) - FingerMotion, Inc. (NASDAQ: FNGR) (the "Company" or "FingerMotion"), a mobile services, data and technology company, is pleased to report its financial results for the first quarter of fiscal 2026 for the period ended May 31, 2025. To review the full financial results, please view the Company's recent 10-Q filing at www.sec.gov/edgar/search or on the Company's website at www.fingermotion.com/investor-relations/financial-information/details, which sho ...