Core Viewpoint - The traditional storage architecture is struggling to meet the high concurrency read and write demands of massive data as AI model parameters approach trillion-level scales, creating opportunities in the AI storage sector. Beijing Starry Sky Technology Co., Ltd. (Starry Sky) has submitted an IPO application to the Hong Kong Stock Exchange, aiming to become the "first AI storage stock" in Hong Kong [1][2]. Group 1: Company Overview - Starry Sky is the largest independent distributed AI storage solution provider in China, with a market share of 10.4% based on 2024 installation volume, ranking second in the industry [2]. - The company's revenue primarily comes from AI storage solutions, accounting for 82.6%, 80%, and 85.8% of total revenue in 2023, 2024, and the first three quarters of 2025, respectively [2]. Group 2: R&D Investment Strategy - Starry Sky's R&D expenses were 110 million yuan in 2023, representing 65.9% of total revenue, but are projected to decrease to 88 million yuan (51%) in 2024 and further to 57.5 million yuan (29.5%) in the first three quarters of 2025 [3]. - The number of R&D personnel decreased from 156 at the end of 2023 to 125 by the third quarter of 2025, indicating a reduction in R&D capacity [3]. Group 3: Financial Performance - As of the third quarter of 2025, Starry Sky reported revenue of 195 million yuan, a year-on-year increase of 65.4%, and a net profit of 8.11 million yuan, indicating a turnaround from previous losses [4]. - Despite the reported profit, the company faced a negative operating cash flow of -40.34 million yuan during the same period, highlighting a gap between accounting profit and actual cash generation [4]. Group 4: Accounts Receivable and Liquidity - Accounts receivable surged to approximately 101 million yuan by the third quarter of 2025, nearly doubling from 32.7 million yuan at the end of 2024, outpacing revenue growth [5]. - The current ratio dropped significantly from 4.9 times at the end of 2023 to 1.4 times by the third quarter of 2025, indicating increased reliance on external financing [5]. Group 5: Valuation and Shareholder Structure - Starry Sky's valuation increased over 50 times from 125 million USD in its A-round financing in December 2015 to 4.58 billion yuan after the F+ round in December 2022 [6]. - Major shareholders include prominent investment firms, with pre-IPO investors holding approximately 38.71% of the company, suggesting potential exit opportunities for these investors post-IPO [6].

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock price drops linked to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as claims under Sections 11 and 15 of the Securities Act of 1933 [3]. - Investors have until March 6, 2026, to request to lead the case, which is pending in the U.S. District Court for the Southern District of New York [3]. Group 2: Company Background - Fermi Inc. is an energy and AI infrastructure company aiming to build large-scale nuclear reactors to support data centers powered by nuclear and other energy sources [4]. - The company's flagship project, Project Matador, is designed to provide dedicated power for AI workloads [4]. Group 3: 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]. Group 4: 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 terminated the Advance in Aid of Construction Agreement [7].

Core Viewpoint - A class action has been filed against Fermi Inc. (NASDAQ: FRMI) on behalf of investors who purchased shares during its IPO and within a specified period, alleging that the company misled investors about its business prospects [1][3]. Group 1: Class Action Details - The class period for the action is defined as October 25, 2025, to December 11, 2025 [3]. - Allegations include that Fermi overstated tenant demand for its Project Matador campus and failed to disclose reliance on a single tenant's funding commitment, which posed a significant risk of termination [3]. Group 2: Impact on Stock Price - On December 12, 2025, Fermi disclosed that the first tenant for Project Matador had terminated a $150 million funding agreement, leading to a stock price drop of $5.16 per share, or 33.8%, closing at $10.09 [4]. - By the time of the class action announcement, Fermi's stock had traded as low as $8.59 per share, representing a 59% decline from the IPO price of $21.00 per share [4]. Group 3: Participation in Class Action - Shareholders interested in serving as lead plaintiffs must submit their papers by March 6, 2026, but participation is not required to be eligible for recovery [5]. - All representation in the class action is on a contingency fee basis, meaning shareholders incur no fees or expenses [6].

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 tenant [5]. - Allegations suggest that Fermi overstated tenant demand and misrepresented the agreement with the First Tenant [6]. Stock Performance - Following the announcement of the First Tenant's termination of the construction funding agreement on December 11, 2025, Fermi's stock dropped by $5.16, or over 33%, from $15.25 to $10.09 per share [7].

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock price drops linked to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as claims under Sections 11 and 15 of the Securities Act of 1933 [3]. - Investors have until March 6, 2026, to request to lead the case, which is pending in the U.S. District Court for the Southern District of New York [3]. Group 2: Company Background - Fermi Inc. is an energy and AI infrastructure company aiming to build large-scale nuclear reactors to support grid-independent data centers for AI companies [4]. - The company's flagship project, Project Matador, is designed to provide dedicated power for AI workloads [4]. Group 3: 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]. Group 4: Stock Price Impact - 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 Viewpoint - The Fermi Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding its Project Matador campus, leading to significant financial losses for investors following the termination of a key funding agreement [3][4][5]. Company Overview - Fermi Inc. is positioned as an energy and AI infrastructure company, having conducted its initial public offering (IPO) in October 2025, selling 37,375,000 shares at a price of $21.00 per share [2]. Allegations of the Lawsuit - 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, which posed a risk of termination [3]. - On December 12, 2025, Fermi announced that the first tenant for Project Matador had terminated a $150 million funding agreement, resulting in a nearly 34% drop in stock price [4]. - By the time the lawsuit commenced, Fermi's stock price had fallen to as low as $8.59 per share, marking a 59% decline from the IPO price [5]. Legal Process - The Private Securities Litigation Reform Act of 1995 allows investors who purchased Fermi common stock during the IPO or the class period to seek appointment as lead plaintiff in the class action lawsuit [6]. - The lead plaintiff represents the interests of all class members and can select a law firm for litigation [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record, being ranked 1 in monetary relief for investors in securities class actions for four out of the last five years [7].

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 aiming to build 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 Price Impact - On December 12, 2025, Fermi's stock dropped by $5.16 per share, over 33%, following the termination of the Advance in Aid of Construction Agreement by the First Tenant [7].

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]. Company Overview - Fermi Inc. is positioned as an energy and AI infrastructure company, having conducted its initial public offering (IPO) in October 2025, selling 37,375,000 shares at a price of $21.00 per share [2]. Allegations of Misconduct - 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, which posed a risk of termination [3]. - It is alleged that the first tenant for Project Matador terminated a $150 million funding agreement, causing Fermi's stock price to drop nearly 34% [4]. Stock Performance - Following the allegations and the termination of the funding agreement, Fermi's stock price fell to as low as $8.59 per share, representing a 59% decline from the IPO price [5]. Legal Process - Investors who purchased Fermi common stock during the IPO or the specified class period can seek to be appointed as lead plaintiff in the class action lawsuit, which allows them to represent the interests of all affected investors [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7].

NEW YORK, Jan. 30, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Fermi Inc. (NASDAQ:FRMI), certain of the Company’s senior executives and directors, and underwriters of Fermi’s Initial Public Offering after a significant stock drop resulting from potential violations of the federal securities laws. If you invested in Fermi, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cas ...

Core Insights - The Indian Economic Survey 2025-26 warns of a potential global financial "systemic shock cascade" in 2026, which could be more severe than the 2008 Global Financial Crisis [1][2] Group 1: Economic Risks - The survey estimates a 10-20% probability for a worst-case scenario where financial, technological, and geopolitical stresses amplify each other [2] - A concentration of capital in AI infrastructure has exposed business models reliant on optimistic execution timelines and narrow customer bases, which could lead to tighter global financial conditions and increased risk aversion [3] Group 2: Geopolitical and Market Interactions - The risks are heightened when technological vulnerabilities coincide with geopolitical escalations or trade disruptions, potentially leading to a significant contraction in global liquidity and capital flows [4] - The macroeconomic consequences of such interactions could surpass those experienced during the 2008 financial crisis [4] Group 3: India's Position - India is relatively better positioned due to strong macroeconomic fundamentals, with a medium-term growth outlook upgraded to 7%, but it is not immune to external risks [4][5] - The survey suggests that India should adopt a strategy of "strategic sobriety" to manage potential global shocks while maximizing domestic growth [5] Group 4: Market Performance - The Nifty 50 index has declined by approximately 3.16% year-to-date and has only risen 8.91% over the year, contrasting with the S&P 500 index, which is up 1.61% year-to-date and 14.79% over the year [6]