Group 1 - Applied Digital (APLD.US) shares surged over 30% following the announcement of a spin-off of its cloud computing business and a non-binding agreement to merge with EKSO [1] - The new entity resulting from the merger will operate under the name "ChronoScale Corporation," with Applied Digital retaining approximately 97% ownership post-transaction [1] - The proposed transaction is expected to be completed in the first half of 2026 [1] Group 2 - EKSO Bionics' stock closed at $7.110, reflecting a 30.22% increase [2] - The trading volume for EKSO was 2.8552 million shares, with a market capitalization of $14.32 million [2] - The stock reached a 52-week high of $14.975 and a low of $2.730, indicating significant volatility [2]

Core Viewpoint - Thames Capital Management is pursuing a high-risk investment strategy by significantly increasing its stakes in cryptocurrency mining companies that are transitioning to data center operations, indicating a belief in the future demand for data centers driven by technologies like artificial intelligence [1][9]. Investment Strategy - Thames Capital Management has acquired over 7 million shares of Bitfarms and initiated positions in several other crypto mining companies, including Cipher Mining, Bitmine Immersion Technologies, Iren, Hut 8, and Riot Platforms, reflecting a focused investment approach in this specialized sector [2][4]. - The total market value of Thames' stakes in these seven companies reached nearly $128 million, constituting more than 18% of its equity portfolio by the end of the third quarter [5]. Market Context - The U.S. Department of Energy projects a significant increase in electricity consumption by data centers, expected to rise from 176 terawatt hours in 2023 to between 325 and 580 terawatt hours by 2028, primarily due to the demands of AI technology [9]. - All seven of Thames' holdings in the crypto mining sector have outperformed the S&P 500 index this year, with Iren achieving a remarkable 352% gain, indicating strong market interest and competition in this niche [11]. Company-Specific Insights - Bitfarms is distinct among Thames' investments as it plans to fully exit the crypto mining business by the end of 2027, focusing instead on data centers and high-performance computing, positioning itself as a leading player in this transition [13]. - Despite the potential for growth, Bitfarms currently derives 87% of its revenue from crypto mining, raising concerns about its ability to compete effectively in the data center and HPC markets [15].

Core Viewpoint - The proposed acquisition of Core Scientific by CoreWeave is facing significant opposition from shareholders, primarily due to concerns over the valuation of the deal, which is perceived as inadequate given the current market conditions [2][3]. Acquisition Details - CoreWeave's acquisition offer for Core Scientific is valued at $9 billion and is structured as an all-stock transaction [2]. - Institutional Shareholder Services (ISS) has recommended that Core Scientific shareholders reject the acquisition, indicating that the market values Core Scientific higher than the proposed offer [2]. Market Reactions - Following the news of ISS's recommendation, shares of CoreWeave fell approximately 5%, while Core Scientific's shares increased by nearly 3% [2]. - The market's reaction suggests a belief that better investment opportunities may exist for Core Scientific shareholders if the deal is rejected [2]. Shareholder Sentiment - Two Seas Capital, a significant shareholder with a 6.2% stake in Core Scientific, has expressed intentions to vote against the acquisition [2]. - CoreWeave's CEO, Michael Intrator, has stated that the company will not increase its offer, emphasizing that the proposed valuation reflects their assessment of Core Scientific's worth [2]. Implications for AI Market - The outcome of the shareholder vote on October 30 could provide insights into investor sentiment regarding the AI technology market and the perceived value of companies within this sector [2].