Economic Data - U.S. retail sales were unchanged month-over-month in December, weaker than expectations of +0.4% [2] - Core retail sales, excluding motor vehicles and parts, were also unchanged month-over-month, below the expected +0.3% [2] - The U.S. Q4 employment cost index rose +0.7% quarter-over-quarter, weaker than the anticipated +0.8% [2] - The U.S. import price index increased by +0.1% month-over-month in December, in line with expectations [2] Labor Market - Nonfarm payrolls expanded by 130,000 in January, significantly exceeding the anticipated 55,000 [4] - The unemployment rate fell to 4.3%, lower than the expected 4.4% [4] Stock Market Performance - Wall Street's major indexes closed mixed, with S&P Global (SPGI) dropping over -9% after weaker-than-expected Q4 adjusted EPS [3] - AI-infrastructure stocks like Western Digital (WDC) and Seagate Technology Holdings (STX) also retreated, with declines of over -8% and -6% respectively [3] - Datadog (DDOG) surged more than +13% after reporting stronger-than-expected Q4 results [3] Earnings Reports - Companies in the S&P 500 are expected to post an average +8.4% increase in quarterly earnings for Q4 compared to the previous year [8] - Prominent companies such as Cisco Systems (CSCO), McDonald's (MCD), and T-Mobile US (TMUS) are set to release their quarterly results [8] International Market Trends - The Euro Stoxx 50 Index is down -0.34% due to concerns over AI disruption, particularly affecting technology stocks [9] - Italy's December Industrial Production fell -0.4% month-over-month, stronger than expectations of -0.6% [11] - China's consumer inflation eased in January, with food prices declining 0.7% year-over-year [12]

Core Insights - Bitdeer Technologies Group reported a significant increase in self-mining hashrate and Bitcoin production, indicating strong operational growth and expansion in the cryptocurrency mining sector [1][6][14]. Mining Operations - The self-mining hashrate reached 63.2 EH/s, a 14% increase from December 2025 [14]. - Bitcoin production surged by 430% year over year, totaling 668 Bitcoins mined in January 2026 [6][12]. - The total hash rate under management increased to 78.1 EH/s, up from 71.0 EH/s in December 2025 [10]. SEALMINER Manufacturing - The deployment of SEALMINER mining rigs contributed to the increase in self-mining capacity, with a total proprietary hash rate of 65.1 EH/s as of January 2026 [3][10]. - Cumulative deployed SEALMINER A3 units increased to 8.7 EH/s, while A2 units reached 44.1 EH/s [3]. Research and Development - The SEAL-DL1 Litecoin ASIC chip has been successfully taped out, with initial testing results exceeding expectations [7]. - Plans are in place to launch the SEAL-DL1 product in Q1 2026, which is expected to outperform the SEALMINER A2 series [7]. Infrastructure Development - Bitdeer is advancing its U.S. manufacturing plans, with a lease signed and construction permit application submitted [7]. - The total global electrical capacity across various sites is now 3,002 MW, with several projects in progress and planning stages [9][19]. AI and HPC Initiatives - The company is actively evaluating colocation arrangements for HPC/AI services, with strong interest from potential hyperscaler customers [8][14]. - Initial deployment of NVIDIA GB200 NVL72 infrastructure in Malaysia marks the first phase of capacity expansion for AI workloads [11].

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock drops linked to potential violations of federal securities laws [1][3]. Company Overview - Fermi Inc. is an energy and AI infrastructure company focused on building large-scale nuclear reactors to support grid-independent data centers for AI companies [4]. - The company's flagship project is Project Matador, designed to provide dedicated power for AI workloads [4]. IPO and Allegations - Fermi completed its IPO in October 2025, claiming strong demand for Project Matador and securing a 20-year lease with an investment-grade-rated tenant [5]. - Allegations suggest that Fermi overstated tenant demand and misrepresented the agreement with the First Tenant [6]. Stock Performance - Following the announcement that the First Tenant terminated the Advance in Aid of Construction Agreement, Fermi's stock dropped by $5.16 per share, over 33%, from $15.25 to $10.09 on December 12, 2025 [7].

Core Insights - The article emphasizes the importance of investing in AI infrastructure companies, referred to as "pick-and-shovel plays," which are expected to benefit from the rapid growth of artificial intelligence and high-performance computing [1] Group 1: AI Infrastructure Companies - Companies like Nebius Group (NBIS), IREN (IREN), Astera Labs (ALAB), TeraWulf (WULF), and Cipher Mining (CIFR) are positioned to profit regardless of which AI model prevails, offering stable revenues and broad industry exposure [1] - Nebius Group is projected to experience a remarkable revenue growth of 5x by 2026, indicating strong market potential [7] Group 2: AI Capital Expenditure Trends - Hyperscaler capital expenditure (CAPEX) is forecasted to increase from $390 billion in 2025 to $515 billion in 2026, reflecting a significant rise in AI-related spending [2][3] - AI spending now constitutes over 2% of GDP, surpassing historical investments in railroads during the 1850s, highlighting the critical role of AI in the economy [2] Group 3: Productivity and Market Dynamics - The proliferation of AI technology has led to a 30% increase in coding productivity, countering skepticism regarding the return on investment in AI [9][11] - Companies are transitioning from capital-intensive models to high-margin operations, as seen with IREN's shift to a GPU-as-a-Service model, resulting in gross profits rising from under $200 million to $600 million [12] Group 4: Market Sentiment and Technical Analysis - A bullish shakeout pattern has been observed in stocks like NBIS, where prices briefly fell below key support levels before rebounding, indicating potential for future price increases [13] - The current market environment presents a unique opportunity for investors to focus on AI infrastructure providers, minimizing the uncertainty associated with software competition in the AI sector [15]

Core Viewpoint - TeraWulf's stock surged 16.52% to close at $16.65 after Morgan Stanley initiated coverage with an Overweight rating and a $37 price target, highlighting its strong position in AI-focused data centers and potential for infrastructure growth [1][4]. Company Performance - TeraWulf's trading volume reached 64.4 million shares, approximately 94% above its three-month average of 33.3 million shares, indicating heightened investor interest [2]. - Since its IPO in 1994, TeraWulf has experienced significant growth, with a 1,276% increase in its stock price [2]. Market Context - The S&P 500 rose by 0.45% to finish at 6,964, while the Nasdaq Composite increased by 0.90% to close at 23,239, reflecting a positive market sentiment [3]. - In the cryptocurrency mining sector, peers such as Mara Holdings and Riot Platforms showed mixed performance, with Mara closing at $8.06 (-2.18%) and Riot at $14.97 (+3.60%) [3]. Investment Implications - Morgan Stanley's coverage emphasizes TeraWulf's unique ability to redirect energy capacity from bitcoin mining to AI data center operations, distinguishing it from many crypto-focused peers [5]. - The positive analyst sentiment is further supported by Needham's reiterated Buy rating and TeraWulf's partnership with Google for large-scale AI infrastructure commitments, which investors are keenly observing for progress in converting power assets for data center use [5].

Core Viewpoint - The Fermi Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding its Project Matador, leading to significant financial losses for investors following the termination of a key funding agreement [3][4]. Group 1: Class Action Lawsuit Details - The lawsuit is titled Lupia v. Fermi Inc., No. 26-cv-00050 (S.D.N.Y.), and it allows investors who purchased Fermi common stock during the IPO or the specified class period to seek appointment as lead plaintiff [1][6]. - The class period is defined as from October 1, 2025, to December 11, 2025, and investors have until March 6, 2026, to apply [1]. Group 2: Allegations Against Fermi - The lawsuit claims that Fermi overstated tenant demand for its Project Matador campus and failed to disclose reliance on a single tenant's funding commitment [3]. - It is alleged that there was a significant risk of the tenant terminating its funding commitment, which was not disclosed to investors [3]. Group 3: Financial Impact - Following the announcement that the first tenant for Project Matador terminated a $150 million funding agreement, Fermi's stock price fell nearly 34% [4]. - The stock price has reportedly traded as low as $8.59 per share, representing a 59% decline from the IPO price of $21.00 per share [5]. Group 4: Company Background - Fermi Inc. is described as an energy and AI infrastructure company that conducted its IPO in October 2025, selling 37,375,000 shares at $21.00 each [2].

Core Insights - IREN Limited's shares increased by 5.1% following the release of its second-quarter fiscal 2026 results, driven by significant growth in its AI Cloud Business, which saw a sequential increase of 136.9% to $17.3 million from $7.3 million in the previous quarter [1][9]. Business Transition and Market Opportunity - IREN is transitioning from a pure-play crypto-mining company to an AI Cloud Service Provider, positioning itself to benefit from the rapidly growing AI compute infrastructure market, which is projected to grow at a CAGR of 23.8% [2]. - The company aims to achieve $3.4 billion in annualized run-rate revenues (ARR) by the end of calendar 2026, with $2.3 billion of ARR already under contract, including a significant agreement with Microsoft [3]. Financial Backing and Growth Capacity - In the second quarter of fiscal 2026, IREN secured $3.6 billion in GPU financing and received $1.9 billion in customer prepayments from Microsoft, covering approximately 95% of GPU-related capital expenditures associated with the Microsoft contract [4]. - IREN has secured over 4.5 gigawatts (GW) of power, with only about 10% needed to reach its $3.4 billion ARR target, leaving substantial capacity for future growth [5]. - The company expanded its power capacity by securing a 1.6-gigawatt site in Oklahoma, enhancing its U.S. footprint and supporting long-term expansion plans [6]. Revenue Estimates and Growth Projections - The Zacks Consensus Estimate for IREN's fiscal 2026 revenues is $1.08 billion, reflecting a year-over-year increase of 112.8%, while the estimate for fiscal 2027 revenues is $2.78 billion, indicating a year-over-year increase of 156.2% [7]. Competitive Landscape - IREN faces significant competition in the AI infrastructure space from established players like Applied Digital and TeraWulf, which may impact its market position [10]. - Recent developments from competitors include Applied Digital's construction of a large AI data center and TeraWulf's acquisition of sites to expand its power capacity [11][12]. Stock Performance and Valuation - IREN's shares have declined by 30.5% over the past three months, underperforming the industry average decline of 17.3% and lagging behind peers like Applied Digital and TeraWulf [13]. - The company's shares are currently considered overvalued, trading at a forward price/sales ratio of 5.6X compared to the industry average of 3.02X [17]. Conclusion - IREN's strategic shift towards AI cloud services is yielding positive early results, supported by strong contracts and funding. However, the high level of competition and premium valuation suggest a cautious approach to investment in the stock [20].

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock price drops linked to alleged violations of federal securities laws [1][3]. Company Overview - Fermi Inc. is an energy and AI infrastructure company focused on building large-scale nuclear reactors to support grid-independent data centers for AI workloads [4]. - The company's flagship project is Project Matador, designed to provide dedicated power for AI operations [4]. IPO and Allegations - Fermi completed its IPO in October 2025, claiming strong demand for Project Matador and securing a 20-year lease with an investment-grade-rated tenant [5]. - Allegations suggest that Fermi overstated tenant demand and misrepresented the agreement with the First Tenant [6]. Stock Price Impact - On December 12, 2025, Fermi's stock dropped by $5.16 per share, over 33%, following the announcement that the First Tenant was terminating its agreement [7]. - The stock price fell from $15.25 to $10.09 per share in one day due to this news [7]. Legal Proceedings - Investors have until March 6, 2026, to seek appointment as lead plaintiffs in the case, which is pending in the U.S. District Court for the Southern District of New York [3]. - The lawsuit includes claims of securities fraud under various sections of the Securities Exchange Act and the Securities Act [3].

Core Viewpoint - The Fermi Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding its Project Matador, leading to significant financial losses for investors following the termination of a key funding agreement [3][4][5]. Group 1: Class Action Lawsuit Details - Investors who purchased Fermi Inc. common stock during the IPO or between October 1, 2025, and December 11, 2025, can seek to be appointed as lead plaintiff in the class action lawsuit [1][6]. - The lawsuit, titled Lupia v. Fermi Inc., claims violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 [1][3]. Group 2: Allegations Against Fermi Inc. - The lawsuit alleges that Fermi overstated tenant demand for its Project Matador campus and failed to disclose reliance on a single tenant's funding commitment [3]. - It is claimed that there was a significant risk of the tenant terminating its funding commitment, which ultimately occurred, leading to a $150 million loss in expected construction funding [3][4]. Group 3: Financial Impact - Following the announcement of the termination of the funding agreement, Fermi's stock price fell nearly 34% [4]. - The stock price has since traded as low as $8.59 per share, representing a 59% decline from the IPO price of $21.00 per share [5]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading firm in securities fraud and shareholder rights litigation, having recovered over $916 million for investors in 2025 alone [7]. - The firm has a strong track record, recovering $8.4 billion for investors over the past five years, making it one of the largest plaintiffs' firms globally [7].

Core Insights - Investors are evaluating whether AI spending will positively or negatively impact companies like CoreWeave [1][2] - The stock market experienced volatility, particularly in the tech sector, with CoreWeave's shares initially dropping 20% before recovering [1][2] Company Performance - CoreWeave's stock ended the week down 3.4%, reflecting investor uncertainty regarding AI spending [2] - The stock price fluctuated significantly, with a current price of $89.61 and a market cap of $45 billion [6][7] Industry Trends - Major tech companies, including Alphabet and Amazon, announced substantial AI capital spending plans, collectively guiding expectations for at least $600 billion in AI spending this year [4] - Despite the potential benefits of increased spending for companies like CoreWeave, concerns about a possible AI spending bubble have emerged, leading to initial sell-offs [5] Market Sentiment - Nvidia CEO Jensen Huang's comments on the sustainability of capital expenditures helped restore confidence in the market, contributing to CoreWeave's stock rebound [7]