Summary of Infosys Investor AI Day - February 17, 2026 Company Overview - **Company**: Infosys (NYSE: INFY) - **Event**: 2026 Investor AI Day - **Location**: Bengaluru campus Key Industry Insights AI Transition - The current AI transition is fundamentally different from previous technology shifts due to its speed and impact on business operations [4][6][7] - Historical context shows that previous transitions (e.g., PCs, cloud) took longer to reach mass adoption compared to AI, which is rapidly gaining users due to existing infrastructure [5][6] - The AI transition requires a complete overhaul of business operations, moving beyond mere technological upgrades to a fundamental change in how businesses operate [7][8] Legacy System Modernization - Companies can no longer defer the modernization of legacy systems; many are spending 60%-80% of their IT budgets on maintaining outdated systems [9][10] - The need for modernization is driven by financial inefficiencies and increasing security threats [10][11] - AI provides tools for rapid and cost-effective modernization, presenting a significant opportunity for firms like Infosys [11] Deployment Gap - There exists a "deployment gap" where the rapid advancement of AI technology outpaces the ability of enterprises to implement it effectively [17][18] - This gap highlights the need for organizational change, retraining, and a shift in data management practices [17][19] Core Business Strategies AI Services Opportunity - Infosys is actively engaged in AI projects with 90% of its large clients, indicating a robust demand for AI services [32][33] - The company has identified six key areas for growth in AI services: AI strategy and engineering, data for AI, process transformation, legacy modernization, physical AI, and AI trust [36][37] AI-First Value Framework - Infosys has developed an AI-first value framework to guide its service offerings, which includes a detailed breakdown of 30 offerings and 100 sub-offerings [37][38] - The framework emphasizes the integration of AI into existing business processes to drive efficiency and innovation [39] Talent Transformation - Infosys is focusing on reskilling its workforce to meet the demands of AI integration, having recruited 20,000 college graduates in the current year [44][45] - The company aims to build a workforce that is both technically skilled and capable of reimagining workflows [54] Financial Performance - AI services currently represent 5.5% of Infosys's revenue in Q3, with expectations for robust growth in this segment [37] Challenges and Considerations Complexity of AI Integration - Integrating AI into enterprises is complex and requires a deep understanding of existing systems and processes [48][49] - Successful AI implementation involves not just technology but also a cultural shift within organizations [50][51] Unique Client Context - Each enterprise has unique data, processes, and risks, which means AI solutions must be tailored to individual client contexts [52] - Infosys's approach focuses on leveraging its deep client relationships and industry knowledge to unlock value [52] Conclusion - The AI transition presents both challenges and significant opportunities for Infosys and its clients, necessitating a strategic approach to modernization, talent transformation, and AI integration [27][28]

Group 1: Market Outlook - The next trillion dollars of India's market capitalization could create more wealth than the last due to compounding on a larger base, deeper participation, and improving corporate profitability [1] - India's GDP is projected to grow from $4 trillion to $16 trillion over the next 17 years, driving massive demand across sectors [11] - The market cap-to-GDP ratio has risen sharply since 2008, indicating a growing wealth creation environment [8] Group 2: Technology Sector Insights - Technology accounted for nearly 30% of the index and has driven significant wealth creation over the past five years, although many tech stocks are currently underperforming [3] - The technology services sector is entering a new phase, with AI expected to expand project capacity and demand significantly [4] - Companies like Infosys and TCS remain relevant despite facing headwinds, and their capabilities are expected to grow as AI evolves [5] Group 3: Wealth Distribution and Economic Impact - The concentration of wealth in the top 5% of the population raises questions about how the remaining 95% will access wealth-building opportunities [13] - The wealth effect in India is not as pronounced as in the US, where a larger percentage of the population participates in the markets, contributing to GDP growth [14] - As stock market wealth grows, it translates into real-world spending and economic growth, which is often underestimated by economists [15] Group 4: Investment Strategy - Investors should set realistic expectations and understand that consistent compounding is key to long-term wealth creation [18] - The market compounds at about 15%, and achieving higher returns requires skill and discipline [17] - Patience is essential, as the desire for quick gains can lead to losses [17]

Investment Rating - The report does not explicitly provide an investment rating for the industry or specific companies. Core Insights - The Corporate Transition Assessment (CTA) framework is essential for Indian banks to evaluate client transition readiness across three dimensions: strategy and ambition, feasibility, and accountability [21][38]. - The steel sector in India is highlighted as a critical area for transition due to its significant emissions and the need for decarbonisation to meet national targets [20][12]. - The report emphasizes the importance of understanding transition risks and opportunities to inform risk management and client engagement strategies [21][37]. Summary by Sections Section 1: The Value of Corporate Transition Assessments - The Reserve Bank of India (RBI) is pushing for deeper integration of climate considerations in risk assessments and financing strategies [26]. - Regulatory developments are creating a favorable environment for climate-aligned businesses, with significant progress in renewable energy and electric vehicle adoption [30][31]. - Banks are beginning to establish climate governance structures and capabilities to measure financed emissions and assess climate risks [32][34]. Section 2: Guidance on Conducting CTAs - The CTA framework helps banks gain actionable insights into corporate transitions by assessing transition vulnerability, feasibility, and accountability [45][46]. - Key components of the CTA include evaluating a company's exposure to transition risks, the feasibility of its decarbonisation efforts, and the governance structures in place [47][48][50]. - CTAs should focus on emissions-intensive companies in sectors like steel, cement, and power, which are critical for the bank's portfolio [51][53]. Section 3: Walkthrough: CTA of a Leading Indian Steel Producer - The analysis of Company X illustrates the process of conducting a CTA, focusing on its transition vulnerability and decarbonisation strategy [62][63]. - Company X's operations are primarily based in India, where it faces limited short- and medium-term transition pressures, but significant long-term challenges due to its emissions-intensive production methods [72]. - The company is taking steps to align with emerging regulations, such as the EU Carbon Border Adjustment Mechanism (CBAM), by converting existing facilities to green steel production [73].

Core Viewpoint - The SLM Corporation, also known as Sallie Mae, is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with investors having until February 17, 2026, to seek lead plaintiff status [1]. Company Overview - SLM Corporation, through its subsidiaries, originates and services private education loans (PELs) [2]. Allegations of the Lawsuit - The lawsuit claims that during the class period, SLM made false or misleading statements and failed to disclose significant increases in early-stage delinquencies, leading to an overstatement of the effectiveness of its loss mitigation and loan modification programs [3]. - On August 14, 2025, TD Cowen reported a 49 basis points month-over-month increase in delinquencies for July 2025, which contradicted SLM's CFO's earlier assurances about delinquency rates following normal seasonal trends. Following this report, SLM's stock price fell by approximately 8% [4]. Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who invested in SLM securities during the class period to seek appointment as lead plaintiff, representing the interests of the class [5]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder rights litigation, having recovered over $916 million for investors in 2025 and $8.4 billion over the past five years [6].

Core Viewpoint - Standard Chartered has significantly reduced its end-of-year price target for XRP by 65%, revising it from $8 to $2.80 due to the recent downturn in the crypto market [1] Market Performance - The digital asset market has faced severe challenges, with Bitcoin experiencing a 28% decline over the past month, reaching a low of $60,000 before a slight recovery [2] - XRP has also struggled, briefly dropping to $1.16, its lowest price in 15 months, and is currently down approximately 28% over the last month [3] XRP's Recent Trends - XRP started 2026 positively, with a 25% increase in the first week, driven by ETF inflows and favorable regulatory conditions [4] - The total amount locked in XRP ETFs peaked at $1.6 billion but has since decreased by 40% to just over $1 billion as of February 13 [4] Broader Crypto Forecasts - Standard Chartered has also revised its year-end targets for other cryptocurrencies: Bitcoin from $150,000 to $100,000, Ethereum from $7,000 to $4,000, and Solana from $250 to $135 [5] - The bank anticipates that XRP will perform similarly to Ethereum, benefiting from the development of stablecoins and tokenized real-world assets [5] Legislative Developments - A potential catalyst for XRP's price recovery is the Clarity Act, a significant crypto market bill currently under consideration in the US Senate [6] - US Treasury Secretary Scott Bessent indicated that the passage of the Clarity Act could aid in the recovery of the crypto market [6] - Progress on the Clarity Act had stalled due to disagreements among banking leaders and crypto executives, but recent discussions have been described as productive [7]

Photographer: Eva Marie Uzcategui/Bloomberg About a decade ago, Saudi Arabia picked a veteran banker to help set up a debt-market program that’s since transformed the kingdom into one of the most prolific bond issuers globally. His next task is to help Riyadh draw in overseas cash and triple annual foreign direct investment to $100 billion by 2030. Fahad Al-Saif has become the new face of the Gulf nation’s push for capital, replacing Khalid Al-Falih as investment minister amid sweeping cabinet changes. ...

Market Overview - The U.S. stock market is closed on February 16, 2026, for Presidents' Day, but global financial activity remains focused on the previous week's momentum and U.S. equity futures [1] - U.S. stock futures showed modest gains, with S&P 500 futures up 0.2% and Dow Jones futures also up 0.2%, indicating a cautiously optimistic start to the week [2] Economic Outlook - The latest Consumer Price Index (CPI) data indicates U.S. inflation cooled to 2.4% year-over-year in January, down from 2.7% in December, reviving hopes for multiple interest rate cuts in 2026 [3] - The yield on the 10-year U.S. Treasury remained flat at 4.052%, suggesting stabilization after previous volatility, with analysts anticipating potential interest rate cuts if economic data continues to show easing price pressures [4] Major Stock News - Apple (AAPL) is in focus after announcing a partnership to integrate Alphabet (GOOGL)'s Gemini AI models into Siri, with shares trading between $254.98 and $264.16 [5] - Alphabet reached a historic market capitalization of $3 trillion, joining Microsoft (MSFT) and Nvidia (NVDA) [5] - Nvidia (NVDA) saw a stock decline of 2.2% amid concerns over software industry disruptions from rapid AI advancements [6] - Tesla (TSLA) continues to experience high volatility as the market evaluates its shift towards autonomous driving software [6] - Coinbase (COIN) surged 16.46% due to a rally in cryptocurrency markets, while Applied Materials (AMAT) gained 8.08% following a strong earnings report [7] Global Market Performance - International markets remain active, with India's Sensex rising 650 points to close at 83,277.15, driven by banking stocks [8] - European markets showed upward trends, with the Stoxx Europe 600 climbing 0.3% [8] - Asian markets were mixed, with Japan's Nikkei 225 declining 0.2% due to disappointing GDP data, while Chinese markets were closed for the Lunar New Year [8] Upcoming Events - The earnings calendar for the week includes high-profile releases from Walmart (WMT), Home Depot (HD), Cisco Systems (CSCO), Alibaba (BABA), and Baidu (BIDU), which will provide insights into global consumer health and enterprise technology spending [9][10]

>> GOOD MORNING, THIS IS "HORIZONS MIDDLE EAST AND AFR AFRICA." OUR TOP STORY THIS MORNING. U.S. SAYS THE FATE IS INTERTWINED WITH THE U.S. WHILE SAYING THEY DRIFTED FROM THEIR SHARED WESTERN VALUES. THE YEN WEAKENS, BOOSTING THE CASE FOR THE PRIME MINISTER’S PROACTIVE SPENDING POLICIES.HAPPY MONDAY, EVERYBODY. IT’S JUST GONE 9:00 A. M.ACROSS THE EMIRATES. I’M JOUMANNA BERCETCHE IN DUBAI. WE ARE IN THE LUNAR NEW YEAR.CHINA IS CLOSED FOR AS MUCH AS 11 DAYS BACK-TO-BACK. WE HAD A HALF DAY OF TRADING IN HONG K ...

Core Insights - Growth outside of America has been limited over the past decade, but this trend is shifting, particularly in Europe, as countries like Germany begin to leverage their balance sheets in response to new global military and economic alliances [1][3] Group 1: Investment Opportunities - The European economy is undergoing a rebalancing due to geopolitical and trade shifts, creating numerous new investment opportunities [3] - Robert Lancastle, a senior fund manager, is optimistic about the investment landscape, particularly in Europe, where he sees a potential inflection point in 2026 [4] - The discount of European stocks compared to U.S. equities is narrowing, indicating a more favorable investment environment [7] Group 2: Germany's Economic Strategy - Germany is looking to leverage its conservative balance sheet, partly due to challenges faced by its auto sector from Chinese competition and its previous reliance on Russian energy [5] - The release of Germany's debt brake a year ago could potentially unleash $1 trillion in government spending, with private-sector involvement possibly increasing this to $1.5 trillion [7] - Siemens has recently upgraded its outlook, reflecting a positive shift in the European investment climate [6]

Market Overview - The S&P/ASX 200 began the week positively, gaining 19.50 points or 0.22% to close at 8,937.10, following a strong 2.4% rally the previous week, marking its best weekly performance in ten months [2][8] - Gains were primarily driven by technology, gold, and healthcare sectors, while miners and financials showed weakness [1][8] Top Performers - AUSTAL LIMITED and WISETECH GLOBAL LIMITED were the top-performing stocks, rising 19.51% and 12.88%, respectively [2][8] - Other notable gainers included SEEK LIMITED, which increased by 7.95%, XERO LIMITED with a 7.58% rise, and JB Hi-Fi, which jumped 7.5% following positive half-year results [2][8][9] Sector Performance - Information Technology was the best-performing sector, gaining 5.65%, rebounding from a recent decline [5][8] - Technology stocks overall rose 5.7%, marking their strongest session in over 10 months, with major players like Wisetech, Xero, and Technology One leading the gains [6][8] - Healthcare stocks rebounded by 1.1%, with CSL and Cochlear rising 1.4% and 0.6%, respectively [6][8] Decliners - On the downside, Treasury Wine Estates Limited led the declines, falling 5.15% after cutting its interim dividend due to ongoing demand weakness [3][9] - Other significant decliners included Fortescue Ltd, down 4.71%, and Rio Tinto Limited, which dropped 4.12% [3][9] Mining and Financials - The mining sector fell by 1%, with BHP and Rio Tinto down 1.5% and 4.1%, respectively, ahead of their upcoming half-year results [8][9] - Financials showed a slight decline of 0.1%, with Commonwealth Bank of Australia rising 1.2%, while National Australia Bank slipped 1% [8][9]