Investment Opportunity - The world requires an investment of $7 trillion in infrastructure to support AI adoption over the next decade, covering AI factories, compute infrastructure, and power transmission [1] Company Overview - Brookfield Infrastructure is a leading global infrastructure company with diversified operations in utilities, energy midstream, transportation, and data infrastructure, generating steadily growing cash flow [5] Financial Performance - In 2025, Brookfield's funds from operations (FFO) grew by 6%, driven by inflation-related rate increases, volume growth, over $1.5 billion in new capital projects, and more than $1.1 billion in acquisitions [5] Data Center Capacity - Brookfield operates approximately 1.2 gigawatts (GW) of data center capacity globally, with an additional 1.1 GW of contracted capacity in its backlog and land capable of supporting 1.3 GW more [7] Growth in Data Infrastructure - The data infrastructure segment saw a more than 50% increase in FFO last year, aided by the commissioning of 220 megawatts (MW) of new data center capacity [6] Strategic Investments - Brookfield is investing in innovative power solutions for data centers, including a $5 billion framework agreement with Bloom Energy, which has led to the installation of 55 MW of power and secured contracts for an additional 230 MW by mid-2027 [8]

Core Sentiment Shift - Core Scientific Inc. has experienced a significant shift in market sentiment, with its momentum score increasing from 78.59 to 87.83 [1] Bullish Momentum And Price Trends - Keefe, Bruyette & Woods raised its price target for Core Scientific from $19 to $25, indicating a positive outlook [2] - The 'Outperform' rating reflects the company's strategic shift from Bitcoin mining to high-performance computing (HPC) leasing [2] - Core Scientific's momentum is ranked favorably against other stocks, showing an upward trend across short, medium, and long-term timeframes [3] Strategic Pivot To AI Infrastructure - The company is transitioning its power infrastructure from cryptocurrency mining to AI-focused HPC hosting, aligning with fundamental market shifts [4] - Analysts anticipate an attractive setup for the company ahead of expected pipeline updates and new colocation deals [4] Analyst Upgrades - BTIG analyst Gregory Lewis upgraded Core Scientific to "Buy," suggesting the company is well-positioned following a rejected merger with CoreWeave [5] Stock Performance - Shares of Core Scientific have risen 12.51% in 2026, with a 31.79% increase over the last six months and a 45.90% rise over the past year [6] - The stock closed at $17.99, down 4.51% on Friday, and saw a premarket decline of 2.95% on Monday [6]

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoints - The processing fee of copper concentrates remains at a historical low. Some smelters have advanced their maintenance due to raw material shortages, resulting in a 1.2% month-on-month decline in electrolytic copper production in January [2]. - The long - term logic of the US economic resilience and the booming demand for new energy/AI infrastructure remains unchanged [2]. - The domestic social inventory of copper continues to increase, with a stronger inventory - building intensity than in previous years [2]. - The combination of concentrated profit - taking by long positions, the rebound of the US dollar, and weak spot demand has triggered a stampede - style decline [2]. - The shortage at the mine end and the long - term demand logic support the bottom, but high inventory pressure, profit - taking by funds, and the rebound of the US dollar have caused significant fluctuations. The short - term market has entered a period of sharp oscillations [3]. 3. Summary by Directory Copper Futures Market Data | Futures Type | Latest Price | Weekly Change | Weekly Change Rate | Open Interest | Open Interest Weekly Change | Trading Volume | | --- | --- | --- | --- | --- | --- | --- | | Shanghai Copper Main Contract | 103,680 | 2.31% | - | 222,934 | - 8,503 | 789,998 | | Shanghai Copper Index - weighted | 103,894 | 2.40% | - | 657,539 | - 704 | 1,476,870 | | International Copper | 91,890 | 2.02% | - | 6,460 | 996 | 26,587 | | LME Copper 3 - month | 13,650.5 | 6.31% | - | 239,014 | - 38,282 | 103,995 | | COMEX Copper | 628.2 | 8.25% | - | 135,168 | - 7,604 | 197,659 | [4] Copper Spot Market Data | Spot Type | Unit | Latest Price | Weekly Change | Weekly Change Rate | | --- | --- | --- | --- | --- | | Shanghai Non - ferrous 1 Copper | Yuan/ton | 104,185 | 4,115 | 4.11% | | Shanghai Wumaotrade | Yuan/ton | 102,635 | 2,420 | 2.41% | | Guangdong Southern Reserve | Yuan/ton | 102,590 | 2,350 | 2.34% | | Yangtze River Non - ferrous | Yuan/ton | 102,780 | 2,400 | 2.39% | | Shanghai Non - ferrous Premium/Discount | Yuan/ton | - 150 | 30 | - 16.67% | | Shanghai Wumaotrade Premium/Discount | Yuan/ton | - 205 | - 20 | 10.81% | | Guangdong Southern Reserve Premium/Discount | Yuan/ton | - 180 | - 30 | 20% | | Yangtze River Non - ferrous Premium/Discount | Yuan/ton | - 165 | - 70 | 73.68% | | LME Copper (Spot/3 - month) Premium/Discount | US dollars/ton | - 93.76 | - 10.92 | 13.18% | | LME Copper (3 - month/15 - month) Premium/Discount | US dollars/ton | - 74.71 | 21.91 | - 22.68% | [8][10] Copper Advanced Data | Data Type | Unit | Latest Price | Weekly Change | Weekly Change Rate | | --- | --- | --- | --- | --- | | Copper Import Profit and Loss | Yuan/ton | - 106.03 | 544 | - 83.69% | | Copper Concentrate TC | US dollars/ton | - 50.2 | - 3.62 | 7.77% | | Copper - Aluminum Ratio | Ratio | 4.2705 | 0.0729 | 1.74% | | Refined - Scrap Copper Price Difference | Yuan/ton | 6,631.43 | 3,908.48 | 143.54% | [11] Copper Inventory Data | Inventory Type | Unit | Latest Price | Weekly Change | Weekly Change Rate | | --- | --- | --- | --- | --- | | Shanghai Copper Warehouse Receipt: Total | Tons | 156,851 | 10,058 | 6.85% | | International Copper Warehouse Receipt: Total | Tons | 10,615 | - 551 | - 4.93% | | Shanghai Copper Inventory | Tons | 225,937 | 12,422 | 5.82% | | LME Copper Registered Warehouse Receipt | Tons | 132,475 | 11,325 | 9.35% | | LME Copper Cancelled Warehouse Receipt | Tons | 43,600 | - 3,500 | - 7.43% | | LME Copper Inventory | Tons | 176,075 | 7,825 | 4.65% | | COMEX Copper Registered Warehouse Receipt | Tons | 346,849 | 11,455 | 3.42% | | COMEX Copper Unregistered Warehouse Receipt | Tons | 228,284 | 4,330 | 1.93% | | COMEX Copper Inventory | Tons | 575,133 | 15,785 | 2.82% | | Copper Mine Port Inventory | Ten thousand tons | 56.9 | 2.2 | 4.02% | | Social Inventory | Ten thousand tons | 41.82 | 0.43 | 1.04% | [15][17] Copper Mid - stream Production Data | Production Type | Time | Unit | Monthly Value | Monthly YoY | Cumulative Value | Cumulative YoY | | --- | --- | --- | --- | --- | --- | --- | | Refined Copper Production | 2025 - 12 - 31 | Ten thousand tons or percentage | 132.6 | 9.1 | 1,472 | 10.4 | | Copper Products Production | 2025 - 12 - 31 | Ten thousand tons or percentage | 222.9 | - 3.4 | 2,481.4 | 4.7 | [19] Copper Mid - stream Capacity Utilization Data | Capacity Type | Time | Unit | Annual Total Capacity | Capacity Utilization | Monthly MoM | Monthly YoY | | --- | --- | --- | --- | --- | --- | --- | | Refined Copper Rod Capacity Utilization | 2025 - 12 - 31 | Ten thousand tons or percentage | 1,584 | 51.1 | - 12.21 | - 15.06 | | Scrap Copper Rod Capacity Utilization | 2025 - 12 - 31 | Ten thousand tons or percentage | 819 | 20.59 | - 3 | - 6.9 | | Copper Plate and Strip Capacity Utilization | 2025 - 12 - 31 | Ten thousand tons or percentage | 359 | 64.48 | - 1.96 | - 9.8 | | Copper Bar Capacity Utilization | 2025 - 12 - 31 | Ten thousand tons or percentage | 228.65 | 56.72 | 2.64 | - 0.46 | | Copper Tube Capacity Utilization | 2025 - 12 - 31 | Ten thousand tons or percentage | 278.3 | 61.59 | 1.9 | - 18.99 | [21][22] Copper Element Import Data | Import Type | Time | Unit | Monthly Value | Monthly YoY | Cumulative Value | Cumulative YoY | | --- | --- | --- | --- | --- | --- | --- | | Copper Concentrate Import | 2025 - 12 - 31 | Ten thousand tons or percentage | 270.4298 | 7 | 3,031.9797 | 8 | | Anode Copper Import | 2025 - 12 - 31 | Tons or percentage | 61,340 | - 23 | 749,961 | - 16 | | Cathode Copper Import | 2025 - 12 - 31 | Tons or percentage | 258,549 | - 30 | 3,344,261 | - 11 | | Scrap Copper Import | 2025 - 12 - 31 | Tons or percentage | 238,977 | 10 | 2,342,580 | 4 | | Copper Products Import | 2025 - 12 - 31 | Tons or percentage | 440,000 | - 21.8 | 5,320,000 | - 6.4 | [24]

Core Viewpoint - Rosen Law Firm has initiated a class action lawsuit on behalf of purchasers of Oracle Corporation's senior notes, alleging that the Offering Documents contained misleading statements regarding Oracle's need for additional debt to build AI infrastructure, which affected the creditworthiness of the bonds [1][4]. Group 1: Lawsuit Details - The class action lawsuit claims that Oracle failed to disclose its requirement for significant additional debt at the time of the Offering, which ultimately led to damages for investors when the true situation was revealed [4]. - Investors who purchased Oracle senior notes may be eligible for compensation without incurring out-of-pocket fees through a contingency fee arrangement [2]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering hundreds of millions for investors [3]. - The firm has been recognized for its achievements, including being ranked No. 1 for securities class action settlements in 2017 and securing over $438 million for investors in 2019 [3].

Market Analysis by covering: Caterpillar Inc. Read 's Market Analysis on Investing.com ...

Group 1 - The article does not provide specific insights or analysis on any companies or industries, focusing instead on the author's personal disclosures and lack of investment positions [1][2]

Core Viewpoint - U.S. stocks are experiencing a downturn, particularly in the software sector, with Microsoft facing significant declines despite beating earnings and revenue forecasts due to concerns over slower growth in cloud computing and increased spending on AI infrastructure [1][2]. Group 1: Software Sector Performance - Microsoft shares fell 12%, marking their worst day since March 2020, as investors reacted negatively to its fiscal second quarter results [2]. - Other software companies, including ServiceNow, SAP, and Salesforce, also experienced heavy selling, indicating a broader trend of investors wanting to exit the software sector [2]. - The S&P 500 index decreased by 0.68%, the Nasdaq dropped by 1.45%, and the Dow fell by 0.17%, reflecting overall market struggles [2]. Group 2: Performance Outside Software Sector - Companies outside the software sector showed better performance, with Caterpillar and Mastercard reporting improved year-over-year quarterly results [4]. - Lockheed Martin forecasted 2026 earnings above Wall Street expectations, indicating strong prospects in the defense sector [4]. - Southwest Airlines projected strong full-year profits, and IBM exceeded earnings estimates in its fiscal year-end results [4]. - Meta reported strong sales in the first three months of its fiscal year, highlighting resilience in the social media space [4]. Group 3: Gold Market - Gold prices experienced volatility, reaching a record high above $5,500 per ounce before falling as investors took profits, but they later recovered to show a 1.19% increase [3]. - Despite the recent decline, gold is on track for its best month since the 1980s, driven by economic and geopolitical uncertainties [3].

Key Takeaways CoreWeave secures massive AI contracts with OpenAI and Meta, boosting its revenue backlog past $55B.Alphabet drives AI-led growth, with Google Cloud up 33.5% YoY and record $100B Q3 revenue.CRWV faces high debt and CapEx, while GOOGL benefits from scale, cash reserves and a diversified AI strategy.AI is not just software; it’s infrastructure. The massive computational power required to train and deploy large language models, autonomous systems and other AI applications has created a new catego ...

Financial Data and Key Metrics Changes - Brookfield Infrastructure Partners generated funds from operations (FFO) of $2.6 billion in 2025, reflecting a 10% increase compared to 2024 when normalized for asset sales and foreign exchange [4][5] - The fourth quarter FFO reached a record of $0.87 per unit, leading to a conservative payout ratio of 66% and a 6% increase in quarterly distribution to $1.82 per unit, marking the 17th consecutive year of distribution increases of at least 5% [5][6] Business Line Data and Key Metrics Changes - The transport segment generated FFO of $1.1 billion, consistent with the prior year after normalizing for $1.8 billion in capital recycling initiatives, with higher revenues in rail and toll road segments [6][7] - The midstream segment's FFO increased by 7% year-over-year to $668 million, driven by higher volumes in Canadian natural gas operations and a newly acquired US refined products pipeline [7][8] - The data segment's FFO surged over 50% to $502 million, attributed to new investments and strong organic growth, including the commissioning of 220 megawatts of capacity at hyperscale data centers [8][9] Market Data and Key Metrics Changes - The global data center platform has development potential of approximately 3.6 gigawatts, with contracted capacity exceeding 2.3 gigawatts [9] - In 2025, corporates invested around $500 billion into AI-related infrastructure, with expectations for further capital investment in the next two years [11][12] Company Strategy and Development Direction - The company is focused on a prudent, risk-focused approach to AI infrastructure investing, emphasizing long-term contracts and selective partnerships with investment-grade counterparties [12][13] - Brookfield Infrastructure aims to capitalize on structural themes such as digitalization, decarbonization, and deglobalization, positioning itself for a super cycle in infrastructure investment [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, anticipating a return to 10% or higher per unit growth, supported by resilient cash flows and a robust pipeline of investment opportunities [20][21] - The company highlighted the importance of maintaining a disciplined execution strategy to convert demand into durable returns, particularly in the data center sector [16][17] Other Important Information - The company achieved record liquidity of $6 billion at the end of 2025, bolstered by $3.1 billion in asset sale proceeds [9] - Significant new investments included a $125 million acquisition of a South Korean industrial gas business and a $300 million investment in a railcar leasing platform [19] Q&A Session Summary Question: Can you elaborate on your contract approach to mitigate technology risk in data centers? - Management explained that long-term contracts (around 15 years) help avoid technology risks by ensuring that any necessary infrastructure changes are not at their cost [28][30] Question: What is the expected return on new data center developments? - Management indicated that new data centers yield a return of 9% to 10%, with monetization at cap rates of 5.5% to 6%, leading to potential equity returns in the high teens or twenties [26][27] Question: Can you provide details on the KKR acquisition of data centers? - Management stated that they cannot disclose specific transaction details but confirmed joint ventures with institutional investors across North America and Europe, totaling about 850 megawatts [35][36] Question: What is the outlook for inflation indexation across geographies in 2026? - Management expects inflation indexation in OECD markets to average between 2% and 3%, with emerging markets like India and Brazil ranging from 2% to 4% [46][47] Question: How is the capital backlog in data operations expected to evolve? - Management noted a significant increase in the capital backlog, driven by hyperscale projects, and expects about $1.5 billion to come online in 2026 [51][59]

Financial Data and Key Metrics Changes - In 2025, Brookfield Infrastructure generated funds from operations (FFO) of $2.6 billion, reflecting a 10% increase compared to 2024 when normalized for asset sales and foreign exchange [4] - The fourth quarter FFO reached a record of $0.87 per unit, leading to a 6% increase in quarterly distribution to $1.82 per unit, marking the 17th consecutive year of distribution increases of at least 5% [4][5] Business Line Data and Key Metrics Changes - The transport segment generated FFO of $1.1 billion, consistent with the prior year after normalizing for $1.8 billion of capital recycling initiatives, with revenue growth in rail and toll road segments averaging 2% and 3% respectively [5] - The midstream segment's FFO increased by 7% year-over-year to $668 million, driven by higher volumes in Canadian natural gas operations and a newly acquired US refined products pipeline [6] - The data segment saw FFO of $502 million, a more than 50% increase compared to the previous year, attributed to new investments and strong organic growth in data storage [6] Market Data and Key Metrics Changes - The company reported record liquidity of $6 billion at the end of 2025, bolstered by $3.1 billion in asset sale proceeds [8] - The global data center platform has development potential of approximately 3.6 gigawatts, with contracted capacity exceeding 2.3 gigawatts [7] Company Strategy and Development Direction - Brookfield Infrastructure is focusing on AI infrastructure investing, leveraging sector tailwinds to create durable value for unitholders [2][10] - The company is applying a risk-focused approach to AI infrastructure, emphasizing long-term contracts and selective investment in strong counterparties [11][12] - The strategic initiatives include deploying approximately $1.5 billion into new investments and maintaining a robust pipeline of opportunities across sectors and geographies [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a constructive backdrop for infrastructure in 2026, driven by digitalization, decarbonization, and deglobalization trends [19] - The company anticipates returning to a growth target of 10% or higher per unit in 2026, supported by resilient cash flows and a strong capital deployment outlook [20] Other Important Information - The company completed approximately $16 billion in financings to de-risk operating company balance sheets [3] - The company has secured two transactions expected to generate attractive returns, including a sale of a Brazilian electricity transmission concession and a capital partnership for data centers in North America [9] Q&A Session Summary Question: Can you elaborate on your contract approach to mitigate technology risk in data centers? - Management explained that long-term contracts (15 years) help manage technology risk by ensuring that any necessary infrastructure changes are not at their cost, allowing them to focus on core infrastructure [24][28] Question: Can you provide details on the KKR acquisition of a stake in a portfolio of data centers? - Management stated they cannot disclose specific transaction details but confirmed joint ventures with institutional investors, including KKR, across various markets [32][34] Question: What is the expected inflation indexation across geographies in 2026? - Management indicated that inflation indexation in OECD markets is expected to average between 2% and 3%, while emerging markets like India and Brazil may see inflation pass-through in the range of 2%-4% [45] Question: Can you provide an update on the capital backlog and its drivers? - Management noted that the data center platform saw significant growth, with a backlog increase driven by new contracts and acquisitions, particularly in North America and Europe [49][51] Question: How does the Canada-Alberta MOU impact midstream investments? - Management stated it is too early to determine the MOU's impact but noted existing growth initiatives and a strong operational environment in Canada [64][66]