Fidelity National Information Services (NYSE:FIS) 2025 Conference December 02, 2025 12:15 PM ET Company ParticipantsJames Kehoe - CFOStephanie Ferris - Preseident and CEOModeratorAll right, great. Welcome, everyone. We're getting through the day here. This is our third presentation of the day. We're very fortunate to have with us today the management team from FIS. Joining us here in Arizona, we have Stephanie Ferris, President and CEO. James Kehoe, who is CFO. And of course, we want to say a special thanks ...

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Group 1: Technology Sector Developments - Dell Technologies is collaborating with Texas Advanced Computing Center and NVIDIA to build a new supercomputer named "Horizon," highlighting the demand for advanced computing infrastructure [2] - ARM announced integration of NVIDIA's NVLink Fusion technology into its Neoverse platform, enhancing AI capabilities in its data center chips [3] - Google is expanding access to its AI capabilities by making Gemini features available to all Gmail account holders [3][9] Group 2: Coatings Industry Consolidation - Akzo Nobel is reportedly nearing a merger agreement with Axalta, which could significantly alter the competitive landscape of the global coatings industry [4][9] Group 3: Geopolitical and Economic Developments - A US-Saudi Investment Forum is scheduled for November 19, featuring top executives from major corporations, emphasizing the importance of investment ties between the two nations [5][9] - The UN Security Council has endorsed President Trump's Gaza peace plan, which includes deploying international troops, facing opposition from Hamas [6][9] Group 4: Financial Services Sector Changes - UBS has announced significant personnel changes within its O'Connor unit, with Gregory Najarian appointed as Portfolio Manager following the decline of co-heads Rodrigo Trelles and Baxter Wasson to accept positions at Cantor [10][9]

Core Insights - Dell Technologies is collaborating with The University of Texas at Austin's TACC and NVIDIA to develop Horizon, the largest academic supercomputer in the U.S., aimed at enhancing research and open science [2][5] - Horizon will provide unprecedented high-performance computing (HPC) and AI capabilities, enabling researchers to address complex challenges in various fields such as climate change, healthcare, and national security [3][6] Technical Specifications - Horizon will feature 300 petaflops of computing power, representing a tenfold increase in simulation speed compared to TACC's current supercomputer, Frontera [5][6] - The supercomputer will utilize Dell Integrated Rack Scalable Systems (IRSS) with direct-liquid cooled Dell PowerEdge servers, NVIDIA Grace Blackwell platform, and NVIDIA Vera CPUs, totaling 1 million CPU cores and 4,000 NVIDIA GPUs [4][6] Strategic Importance - The project is supported by the National Science Foundation and is expected to drive significant advancements in scientific research and innovation, reinforcing U.S. leadership in these areas [5][7] - The collaboration between Dell, TACC, and NVIDIA is positioned as a transformative initiative for scientific discovery, particularly in leveraging AI for research [7]

Core Insights - Aave Labs has obtained authorization as a Crypto-Asset Service Provider (CASP) from the Central Bank of Ireland, indicating a strategic move to expand its audience beyond traditional DeFi users [1][6] - The new CASP license will enable Aave to offer fiat services, allowing users to link bank accounts and convert euros and dollars into stablecoins like GHO for earning, borrowing, and saving [3][6] - Aave Labs is actively transitioning towards more regulated markets, as evidenced by the launch of Horizon, a permissioned institutional lending platform, and the acquisition of Stable Finance, a consumer-focused stablecoin savings startup [4][5] Company Developments - Aave is a decentralized finance protocol that facilitates lending and borrowing of cryptocurrencies, primarily stablecoins like USDT and USDC [2] - In 2023, Aave Labs introduced GHO to secure protocol revenues and lessen reliance on external issuers [2] - The recent activities of Aave Labs reflect a desire to redefine its identity within the DeFi space and appeal to a broader audience [5]

Core Insights - The term "metaverse" was notably absent from Meta's recent earnings call, indicating a shift in focus away from this previously emphasized area [1] - Despite the omission in the earnings call, Meta's CTO reassured employees that the metaverse remains a companywide priority, highlighting ongoing efforts in this domain [2] - The earnings call heavily emphasized "compute" and AI infrastructure, with significant investments planned for 2025 and 2026, reflecting a strategic pivot towards enhancing technological capabilities [3][7] Financial Performance - Meta's shares experienced a significant decline, dropping by double digits following the earnings call, suggesting investor skepticism regarding the company's direction [3] - The company incurred a $15.9 billion tax charge related to tax legislation, impacting earnings, but anticipates a lower tax rate in the coming years [9] Product Focus - Consumer hardware, particularly virtual reality products like "Quest" and smart glasses, received considerable attention during the call, indicating a continued commitment to hardware development [9] - Among social networks, Facebook was mentioned most frequently, followed by Instagram and Threads, suggesting a focus on these platforms in future strategies [8] Competitive Landscape - The earnings call did not reference competitors such as OpenAI, Anthropic, Google, or xAI, indicating a potential shift in competitive strategy or focus [10]

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Core Insights - Aave Labs has acquired Stable Finance, a startup focused on simplifying onchain savings for users, although the financial terms of the deal remain undisclosed [1] - The acquisition aims to enhance Aave's consumer-facing DeFi products by integrating Stable's technology and bringing its founder, Mario Baxter Cabrera, on board as Director of Product [1][4] - Aave Labs is committed to making onchain finance accessible to everyday users, as highlighted by the success of its institutional platform, Horizon, which has attracted over $300 million in deposits since its launch [3] Company Developments - Stable Finance is recognized for its mobile app that allows users to earn interest on deposits through stablecoin yield strategies, simplifying the technical complexities of DeFi [2] - The existing Stable Finance app will be phased out as its technology is integrated into future Aave Labs products, marking Aave's third talent-focused acquisition in recent years [4]

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