Hi there, this is your daily ☕️ Finpresso.
In today's newsletter:
🏦 21 banks unite to launch dollar stablecoin
💻 Dell raises annual forecast to $192B on AI demand
🛡️ Palo Alto revenue jumps 34% on AI demand
📉 Global bond yields hit multi-decade highs as oil surges
⚡ SoftBank's SB Energy files for IPO on OpenAI deal
Plus: 🌍 9 macro news, 🏢 10 corporate news, and 📑 6 research & reports.
| 🏦 21 banks unite to launch dollar stablecoin LINK |
- A group of 21 banks including Goldman Sachs, Bank of America, Citi and Deutsche Bank plan to form a company this year to issue a dollar-pegged stablecoin in the first half of 2027, expanding from just 10 banks a year ago.
- The venture will compete with Qivalis, a separate consortium of 37 institutions launching a euro-pegged token this year, though some banks such as Spain's BBVA belong to both; the 21-bank group also plans euro and other G7-currency versions.
- Bank-issued stablecoins have shown little traction so far: the market is dominated by Tether with more than $180 billion in circulation, while Societe Generale's dollar token, launched last year, has just $12.5 million outstanding.
| 💻 Dell raises annual forecast to $192B on AI demand LINK |
- Dell lifted its full-year revenue forecast to $192 billion, implying 69% growth, and its adjusted earnings-per-share outlook to $25.50, after blockbuster AI server demand pushed quarterly results well past Wall Street estimates.
- Second-quarter revenue jumped 58% to a record $47 billion and adjusted EPS soared 203% to $7.04, both trouncing analyst forecasts of $44.5 billion and $4.92, with the AI server unit booking $60.9 billion in orders.
- The infrastructure division led the surge, up 89% to $31.8 billion as AI-optimized server sales doubled to $16.4 billion and the order backlog swelled eightfold to $95 billion, sending Dell shares up more than 7% after hours.
| 🛡️ Palo Alto revenue jumps 34% on AI demand LINK |
- Palo Alto Networks posted a 34% jump in fiscal fourth-quarter revenue from $2.54 billion a year earlier, as rising threats from AI-driven cyberattacks fueled demand for its security tools.
- The company swung to a net loss of $282 million, or 35 cents a share, from net income of $254 million a year ago, though shares added about 2% after hours following a 5% drop in regular trading.
- CEO Nikesh Arora called AI-driven attacks a long-term tailwind for growth, with the stock nearly doubling this year; rivals CrowdStrike and Okta also surged last week on strong results as customers ramp up cyber spending.
| 📉 Global bond yields hit multi-decade highs as oil surges LINK |
- A renewed oil shock is hammering bond markets worldwide: US and Iran retaliatory strikes around the Strait of Hormuz sent Brent crude 2.2% higher to $92.38 a barrel and West Texas Intermediate up 2.61% to $88.05, reigniting inflation fears across every major sovereign market.
- US 10-year Treasury yields climbed to a 20-month high of 4.7880%, Japan's 10-year hit 3% for the first time since 1996, and UK 10-year Gilt yields jumped more than 9 basis points to 5.2341%, their highest since June 2008, with 30-year Gilts at levels last seen in 1998.
- Standard Chartered's Steve Englander warned yields will stay under upward pressure as deficits mount globally, a bad setup for equities, mortgages and any government heading into a budget with heavy borrowing needs.
| ⚡ SoftBank's SB Energy files for IPO on OpenAI deal LINK |
- SoftBank-backed SB Energy has filed for a Nasdaq IPO under the ticker SBE, aiming to fund its push into AI data centres, with the Wall Street Journal reporting it could raise $5 billion to $7 billion and trade as soon as this month.
- The listing follows Nvidia's $105 billion financing commitment for an OpenAI data-centre project in Ohio that SB Energy will build, which CEO Rich Hossfeld said helps unlock investment-grade financing for the capital-hungry expansion.
- SB Energy has no operational data centres and no revenue from that business yet, posting a net loss of roughly $3.2 billion in the first half of 2026 on just $139 million of revenue, while calling itself "substantially dependent" on OpenAI as tenant and investor.
🌍 Macro News
- US pushes G20 to keep AI regulation light via Carolina Principles. LINK
- Euro-zone inflation jumped to 3.3% in August, its highest since September 2024. LINK
- Fed's Barr would support a rate hike if inflation stays elevated. LINK
- China alone refused to sign G20 statement on cheap export flooding. LINK
- SEC proposes first major transfer agent rule overhaul since the 1970s-80s. LINK
- Carney urges Trump administration to get serious on trade talks. LINK
- Russia expanded its digital ruble beyond a restricted pilot program. LINK
- G20 finance officials pledged clearer rules for digital assets and stablecoins. LINK
- Dollar holds near two-week high on bets for a Fed rate hike. LINK
🏢 Corporate News
- Anthropic reversed policy, storing misuse-tracking data in customers' own cloud accounts. LINK
- OpenAI says its new Astra model can independently exploit unknown software flaws. LINK
- GoPro agrees to $285 million merger with Starman Optical, staying public. LINK
- Fervo Energy shares jumped 28% after signing a 396 MW deal with Google. LINK
- Amazon joins YouTube's Shopping Affiliate Program, letting creators tag products for sales. LINK
- MongoDB's quarterly revenue and earnings beat Wall Street expectations. LINK
- AI training-data startup AfterQuery reportedly hit a $3.2 billion valuation, fastest ever for YC. LINK
- upGrad acquires rival Unacademy for about $206 million, far below its 2021 peak. LINK
- TCL sues Samsung, alleging false Mini LED marketing on its TVs. LINK
- BP names Ian Tyler permanent chair after months of boardroom turmoil. LINK
📈 Stocks
📑 Research & Reports
- South Korea's $919 billion AI datacenter push mainly benefits Nvidia, not local memory makers. LINK
- Investors shift focus to power and cooling suppliers amid data-centre grid delays. LINK
- AI model usage costs keep falling, hitting a new low this week. LINK
- New York Fed surveys find firms use AI to reshape jobs, not cut them. LINK
- Only 23% of merchants can track AI-driven shopping traffic and sales. LINK
- ECB finds synthetic securitisation unlikely to close Europe's large investment gap. LINK