人民财讯1月8日电，甬矽电子(688362)1月8日公告，经公司财务部门初步测算，预计2025年年度实现营 业收入42亿元至46亿元，与上年同期(法定披露数据)相比，同比增加16.37%至27.45%。预计2025年年度 实现归属于母公司所有者的净利润7500万元到1亿元，与上年同期(法定披露数据)相比，同比增加 13.08%至50.77%。报告期内，全球半导体产业在人工智能、高性能计算、数据中心基础设施建设等需 求的拉动下，延续增长态势。得益于海外大客户的持续放量和国内核心端侧SoC客户群的成长，公司营 业收入规模保持增长。 ...

GPU Lease Financing to Support xAI’s Second Data CenterNEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds and affiliates (the “Apollo Funds”) have led a $3.5 billion capital solution for Valor Compute Infrastructure L.P. (“VCI”), a fund managed by Valor Equity Partners (“Valor”), to support its $5.4 billion acquisition and lease of data center compute infrastructure, including NVIDIA GB200 GPUs, to a subsidiary of xAI Corp (“xAI”). The financing uses a t ...

Global markets remain supported by ongoing enthusiasm for artificial intelligence (AI) and the build-out of data center infrastructure. Hyperscalers and large technology companies continue to invest heavily, with data center M&A reaching about $61 billion through 2025, topping the prior year’s record. While some strategists warn that parts of the AI trade may be stretched, demand for physical infrastructure is still driving the theme. Within that backdrop, Vertiv (VRT) appears positioned to catch up. Bar ...

Data center infrastructure is turning into one of the biggest spending races in the market. Deal activity in the sector hit a record $61 billion in 2025, showing the rapid pace of companies locking in enough data center space and computing power for artificial intelligence work. And this is further fueled by generative AI workloads that are pushing today’s power and server capacity to the limit. Demand for AI-ready data centers is soaring so quickly that supply could fall behind. This is the reason behin ...

Jabil (NYSE:JBL) Q1 2026 Earnings Call December 17, 2025 08:30 AM ET Company ParticipantsSteven Fox - Founder and CEOGreg Hebard - EVP of CFOAdam Berry - Senior Vice President of IR and CommunicationsNone - Company RepresentativeRuplu Bhattacharya - DirectorRuben Roy - Managing Director of Equity ResearchMike Dastoor - CEOConference Call ParticipantsDavid Vogt - Managing Director and Senior Equity AnalystMark Delaney - Managing Director and Senior Equity AnalystMelissa Fairbanks - Equity Research AnalystTim ...

Market Trends & Investment Strategies - Gabelli Funds portfolio manager suggests a potential 7% increase from the current market level, aligning with the long-term average [1] - The market's performance is significantly influenced by big tech companies, which are currently subject to considerable debate [2] - The market's earlier excitement about rate cuts against a backdrop of economic growth reacceleration has somewhat reversed due to less dovish signals from the Federal Reserve and cooling data [4] - Broadening out trade has been observed in the last few weeks, but ultimately, fundamentals and earnings growth will drive stocks [11] Economic Factors & Fiscal Policy - Tax refunds are expected to boost consumer spending [7] - Expensing of capital expenditures (capex) is anticipated to stimulate non-AI capex, potentially leading to a reacceleration [7][8] - There's a concern that companies may not be fully aware of or utilizing the bonus depreciation benefits in the tax bill [8][9][10] AI & Technology Sector - Data center infrastructure is crucial to the economy [2] - The impact on AI stocks was more influenced by market fatigue and risk-off sentiment than by fundamental factors [5] - Strong fundamentals are primarily observed within big tech companies, particularly the "Magnificent Seven" [12] - Five of the "Magnificent Seven" have seen their forward price earnings multiples derate this year, with performance driven by earnings growth rather than multiple expansion [12]

Core Insights - Investors are increasingly investing in Direxion's leveraged Micron Technology ETF due to the company's strong performance driven by artificial intelligence infrastructure spending [1][2] - The Direxion Daily MU Bull 2X Shares (MUU) has seen significant asset growth, rising from $100 million to nearly $400 million, with $148.27 million in net flows in the past month [1][3] Investment Trends - The rapid growth in the ETF reflects trader positioning ahead of Micron's upcoming earnings report and confidence in companies with strong fundamentals in the AI sector [2][5] - Retail traders are primarily driving the activity in MUU, influenced by Micron's strong earnings and its role in AI hardware and data center infrastructure [5][6] Performance Metrics - MUU has posted a year-to-date return of 377.78% and a three-month return of 221.2%, indicating strong performance [3] - Trading volume has surged, with over 150 million shares traded in a single day, placing MUU among the top 100 most-traded ETFs [4] Fund Characteristics - MUU provides 2x leveraged exposure to Micron's daily price movements and is designed as a short-term trading vehicle rather than a long-term investment [3][6] - Direxion also offers an inverse ETF, the Direxion Daily MU Bear 1X Shares (MUD), for hedging purposes [6]

Core Viewpoint - Dycom Industries, Inc. has announced a definitive agreement to acquire Power Solutions, LLC for a total consideration of $1.95 billion, enhancing its capabilities in the telecommunications and digital infrastructure sectors [1][4]. Company Overview - Dycom Industries is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries across the United States [14]. - Power Solutions is one of the largest electrical contractors in the Mid-Atlantic region, specializing in electrical infrastructure solutions for data centers and critical facilities [2][16]. Financial Highlights - Power Solutions is expected to generate approximately $1.0 billion in annual revenue for calendar 2025, with a compounded annual revenue growth of about 15% over the past four years [2]. - The transaction is projected to be immediately accretive to Dycom's Adjusted EBITDA margin and Adjusted Diluted EPS, while also improving free cash flow for the combined company [9][10]. Strategic Rationale - The acquisition diversifies Dycom's business and enhances its potential for long-term growth by expanding its exposure to the rapidly growing data center demand [5][6]. - Power Solutions' operations will provide significant opportunities to scale and expand existing relationships with hyperscalers and other technology companies [8]. - The transaction will combine two leading workforces, adding substantial skilled labor capacity and enabling the execution of large and complex projects [15]. Market Position - Power Solutions derives over 90% of its revenue from data center projects, strategically positioning Dycom in the world's largest data center hub located in the Greater Washington D.C., Maryland, and Virginia area [7]. - The U.S. demand for data center capacity is projected to grow at a CAGR of 20% to 25% through 2030, with traditional drivers like cloud migration sustaining a 16% CAGR [7].

Financial Data and Key Metrics Changes - In Q3 2025, Bitfarms achieved total revenue of $84 million from continuing and discontinued operations, with $69 million from continuing operations, representing a year-over-year increase of 156% [40][41] - Gross mining profit from continuing operations was $21 million, with a gross mining margin of 35% and an average direct cost of $48,200 per Bitcoin mined [41] - Adjusted EBITDA from continuing operations was $20 million, or 28% of revenue, up from $2 million, or 8% of revenue year-over-year in Q3 2024 [42] Business Line Data and Key Metrics Changes - The company confirmed the ability to convert its Bitcoin megawatts for HPC and AI, representing a strategic opportunity to increase total data center megawatts in Quebec by 25% [19] - The Washington site is set to convert to HPC and AI workloads, with a fully funded agreement for $128 million for critical IT infrastructure [20][21] Market Data and Key Metrics Changes - Lease rates for data center infrastructure have grown at an average rate of 12% since 2022, compared to an average of 3% over the last 20 years [8][10] - Analysts predict a massive shortfall of nearly 45 gigawatts of power for data centers by 2030, confirming the increasing demand for data center capacity [10][11] Company Strategy and Development Direction - Bitfarms aims to optimize lease rates and margins through prioritizing infrastructure development, locking in higher rates under multi-year agreements, and developing infrastructure for next-generation GPUs [12][13] - The company plans to transition from Bitcoin mining to HPC and AI infrastructure, with a focus on developing facilities for NVIDIA's Vera Rubin GPUs [14][30] Management's Comments on Operating Environment and Future Outlook - Management expressed high conviction in the demand for HPC and AI infrastructure, emphasizing the strategic value of their energy portfolio and the unique positioning of their megawatts [16][35] - The company is well-capitalized with over $1 billion available for funding development projects, indicating strong financial health and a clear vision for future growth [44][45] Other Important Information - The company has transitioned to U.S. GAAP for Q4 and is working towards a U.S. redomicile in 2026 to improve institutional composition [35] - Bitfarms has maintained steady mining operations, achieving approximately $8 million in monthly free cash flow after G&A, which will support HPC and AI development projects [39][40] Q&A Session Summary Question: Can you share more on how you guys are thinking about economics for the Vera Rubin GPU infrastructure? - Management indicated that the economics will improve due to the increasing shortage of infrastructure and the specific requirements of the Vera Rubin GPUs, which will command a premium [47][49] Question: What is the expected timeline for expanding power capacity at Panther Creek and Scrubgrass? - Management noted that the timeline for expansion is uncertain but could happen quickly due to existing infrastructure and regulatory approvals [59] Question: What are the biggest challenges to meeting timelines for Washington, Sharon, and Panther Creek? - Management highlighted that construction bottlenecks are hard to forecast but emphasized the importance of having strong partners and project management teams in place [75]

Core Viewpoint - Vertiv is positioned for growth in the data center infrastructure sector, driven by increasing AI-related investments, but current stock valuation may not reflect its earnings potential due to external cost pressures like tariffs [1][4][8]. Company Overview - Vertiv is a leader in data center infrastructure, providing power, thermal management, and IT equipment, and is collaborating with Nvidia on new power-system solutions for high-voltage direct current data centers set to launch in 2027 [2][4]. - The company has experienced a stock price increase of over 67% this year, with a market capitalization of $69 billion [3][4]. Financial Performance - Vertiv has raised its full-year sales forecast consistently, with a current guidance of $10.2 billion in sales for 2025, reflecting a 10.9% increase from earlier estimates [6]. - However, the increase in sales guidance has not translated into proportional increases in operating profit and free cash flow, with adjusted operating profit expectations rising only 6.5% and free cash flow expectations increasing by 15.4% [5][6]. Cost Challenges - The company has faced cost headwinds due to tariffs, which have impacted its ability to achieve expected profit margins. Management anticipates that these tariff-related challenges will not persist into the next year [8][11]. - The CFO has indicated that achieving low 30% incremental margins is crucial for reaching a 25% operating margin target by 2029, with an expected organic revenue CAGR of 12%-14% from 2024 to 2029 [11][12]. Market Outlook - Analysts predict a sales increase of approximately $2 billion in 2026, with an expected $638 million rise in operating profit, indicating a 32% incremental increase [9]. - The growth in AI and data center spending is expected to accelerate, with management projecting a 27% organic revenue growth in 2025 [12]. Investment Consideration - While Vertiv's current earnings may not suggest significant undervaluation, the potential for growth driven by AI and data center investments could justify its valuation if tariffs do not continue to hinder profitability [13].