Kuya Silver (KUYAF) – Umm Hadid: Early-Stage Discovery


Tuesday, December 23, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

High-grade silver-gold system confirmed. Kuya Silver reported strong initial exploration results from the Umm Hadid Project in Saudi Arabia, confirming high-grade silver-gold mineralization over a large area measuring approximately 6.0 km by 2.5 km. In our view, the scale of the mineralized footprint and grade tenor materially de-risks the project at an early stage. Umm Hadid is operated by Silver Mining LLC, a joint venture between Sumou Holding and Kuya Silver.

Maiden drilling validates surface results. The first drill program comprised 29 diamond drill holes totaling roughly 5,000 meters across three target areas defined by surface sampling. Drilling returned high-grade intercepts of up to 1,483.9 g/t silver equivalent over two meters, with several additional intersections grading several hundred grams per tonne. Surface sampling of 460 grab samples averaged 86.1 g/t silver equivalent, with peak values reaching 1,359.8 g/t. We believe a strong gold-silver correlation supports the presence of a large hydrothermal system.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

FreightCar America (RAIL) – Acquisition Strengthens RAIL’s Aftermarket Distribution Business


Tuesday, December 23, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Acquisition of Carly Railcar Components. FreightCar America acquired Carly Railcar Components, LLC (CRC), a family-owned railcar component distributor founded in 1995. Carly operates warehouse facilities in Orange, Texas, and Irwin, Pennsylvania, supplying AAR M-1003 approved original equipment manufacturer (OEM) railcar components to repair shops, railroads, private car owners, and industrial customers. The company also operates a core exchange program for reconditioned parts. The purchase price was not disclosed.

Increased Scale and a Complementary Product Portfolio. The transaction strengthens RAIL’s aftermarket distribution business with a focus on running repair components, those parts that are frequently replaced to keep the railcar operational. This product category complements RAIL’s core offerings and product mix. RAIL customers will benefit from a larger catalog of ready-to-ship railcar components. The acquisition is expected to be immediately accretive, and RAIL expects to realize meaningful operational improvements across the combined network, including increased purchasing power with OEMs.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – FreightCar America, Inc. Acquires a Leading Distributor of Railcar Components

12/22/2025

CHICAGO, Dec. 22, 2025 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today announced that it has completed the acquisition of Carly Railcar Components, LLC (“CRC”), a family-owned, leading distributor of railcar components.

The acquisition strengthens FreightCar America’s aftermarket distribution business with a focus on running-repair components, a frequently replaced and highly recurring product category that complements the Company’s core offerings and product mix. Through the acquisition, the Company’s customers will benefit from reduced lead times and a larger catalog of ready-to-ship railcar components.

“Carly Railcar Components brings highly complementary capabilities that strengthen our position in the railcar aftermarket. CRC’s long-standing presence in component distribution and its established regional footprint, including a Houston-area facility in Orange, Texas, enhances our ability to serve customers with greater speed, reliability and product availability. This acquisition advances our strategic initiatives to build complementary capabilities that deliver enhanced value to our customers,” said Nicholas Randall, President and Chief Executive Officer of FreightCar America.

“We are excited to welcome Carly Railcar Components to the FreightCar America platform,” said Mike Riordan, Vice President, Chief Financial Officer & Treasurer of FreightCar America. “CRC has built a strong business with deep customer relationships. Combining their capabilities with our commercial and supply chain excellence will allow us to deliver exceptional value to our customers, while at the same time allowing us to realize meaningful operational improvements across the combined network. This acquisition is consistent with our disciplined capital allocation framework and is expected to be immediately accretive to FreightCar America as we scale our aftermarket business.”

About Carly Railcar Components

Founded in 1995, Carly Railcar Components distributes OEM railcar components and operates a core-exchange program for reconditioned parts. The company serves repair shops, railroads, private car owners and other industrial customers. CRC is one of the major component distributors in North America and has a strong reputation for profitable growth, quality and customer service. To learn more about Carly Railcar Components, visit www.carlyrailcar.com.

About FreightCar America

FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.

Release – Century Lithium Appoints Matthew Tompkins As Chief Financial Officer

December 22, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company is pleased to announce that Mr. Matthew Tompkins has been appointed Chief Financial Officer of the Company, effective immediately.

Mr. Tompkins has served as Century Lithium’s Interim Chief Financial Officer since September 2025. During this period, he has provided continuity in financial leadership and supported the Company’s strategic and corporate objectives. Following a review by the Board of Directors, the Company has confirmed his appointment as Chief Financial Officer on a permanent basis.

“Matthew has demonstrated strong financial leadership and a clear understanding of Century Lithium’s business and strategic priorities,” said Bill Willoughby, President and Chief Executive Officer of Century Lithium. “The Board is confident that his experience and disciplined approach will continue to support the Company as it advances its Angel Island Lithium Project and executes its long-term strategy.”

Mr. Tompkins brings extensive experience in financial management, public company reporting, and corporate governance, with a background supporting resource and development-stage companies.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced-stage lithium company, focused on developing its 100%-owned lithium project Angel Island in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate. As part of the Company’s chlor-alkali process, the planned sale of surplus sodium hydroxide produced at Angel Island is expected to contribute meaningfully to maintaining competitive operating costs for lithium carbonate production.

Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan, expected to yield an estimated life-of-mine average of 34,000 tonnes per year of lithium carbonate over a 40-year mine-life.

Century Lithium trades on both the TSX Venture Exchange under the symbol “LCE” and the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.

To learn more, please visit centurylithium.com.

ON BEHALF OF CENTURY LITHIUM CORP.

WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181 scacos@centurylithium.com centurylithium.com

Release – Bit Digital Announces Appointment of Amanda Cassatt to Board of Directors

NEW YORK, December 22, 2025 /PRNewswire/ – Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies, today announced the appointment of Amanda Cassatt, founder and and Chief Executive Officer of Serotonin, to its Board of Directors effective January 1, 2026.

Cassatt previously served as Chief Marketing Officer at Consensys, the leading Ethereum software company, building the infrastructure, tools, and protocols that power the world’s largest decentralized ecosystem, where she helped shape early market narratives around Ethereum and its ecosystem. Serotonin is a services company for institutions and startups in the blockchain and crypto industry and has played a central role in introducing blockchain technologies to mainstream audiences.

The Company noted that Cassatt brings experience across digital assets, institutional adoption, and product strategy at a time when Bit Digital continues to expand its presence in Ethereum and AI infrastructure. Her perspective is expected to support the Company’s focus on productive digital asset strategies and compute-driven business models.

“I look forward to supporting the mission of making Ethereum and AI compute accessible to the public markets,” Cassat said. “I appreciate Bit Digital’s thoughtful, long-term approach to the assets and infrastructure that matter most for the future.”

”Amanda’s experience sits directly at the intersection of Bit Digital’s strategic priorities,“ said Sam Tabar, Chief Executive Officer of Bit Digital. “She brings a deep understanding of digital assets, infrastructure, and how emerging technologies are communicated to institutional audiences. As the market increasingly differentiates between speculative exposure and productive digital infrastructure, her perspective will be a valuable addition to the Board.”

With the addition of Cassatt, Bit Digital continues to strengthen its corporate governance and long-term strategic alignment as it executes on its Ethereum and AI-focused growth strategy.

About Bit Digital
Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital’s platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. Bit Digital also holds a majority equity stake in WhiteFiber (Nasdaq: WYFI), a leading AI infrastructure provider and HPC solutions. For additional information, please contact  ir@bit-digital.com or follow us on LinkedIn or X.

Release – Conduent Launches Italy’s First Integrated Transit EMV Contactless Payment System with Brescia Mobilità and Arriva Italia

December 22, 2025

MILAN & FLORHAM PARK, N.J. — Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), today announced the launch of Italy’s first integrated transit EMV (Europay, Mastercard, and Visa) contactless payment system, developed in partnership with transit operators Brescia Mobilità and Arriva Italia. Conduent previously collaborated with both operators to implement their individual EMV systems, and this new integration marks a significant step forward in digitalizing ticketing systems.

The integrated system allows passengers traveling on Brescia Mobilità’s urban network and Arriva Italia’s extra-urban network to purchase a single ticket that is valid across both systems using contactless debit or credit cards, as well as NFC enabled digital wallets. The solution automatically calculates the correct fare based on the journey taken. In addition, the system enables a multi-passenger ticket, allowing one traveler to purchase multiple fares in a single transaction with the same card.

This represents the first EMV system integration between two public transport operators in Italy, and it serves as a pioneering example of a multi-operator EMV platform functioning as a shared service hub across public transport companies.

To support this innovation, Conduent enhanced its EMV solution with two new modules.

  • A Tokenizer protects sensitive data by generating a unique identifier, or token, for each card used.
  • An Orchestrator manages the end-to-end payment process, ensuring transactions are secure and efficient, including the reconciliation of payments.

“We are proud to have been the first in Lombardy to introduce EMV contactless payment technology,” said Marco Medeghini, General Manager at Brescia Mobilità Group. “By working with Conduent and Arriva Italia, we have taken a major step toward digitalizing public transportation and advancing our shared vision of a modern, sustainable system.”

“This collaboration represents a decisive step forward for public transport in the city of Brescia and its province – a first-of-its kind integrated payment system connecting two major operators,” said Angelo Costa, Managing Director of Arriva Italia. “Building off the success of EMV technology, we invested in this joint solution to offer an innovative and easy-to-use service to our passengers.”

“Brescia Mobilità and Arriva Italia recognize that adopting innovative technologies enhances the passenger experience. Conduent’s EMV solution laid the foundation for a scalable, multi-operator system that can be expanded to a wider geographical area,” said Jean-Charles Zaia, President, Transit Solutions at Conduent. “We are proud to support Brescia Mobilità and Arriva Italia with this first-of-its-kind implementation in Italy, made possible by Conduent’s innovation and our partners’ commitment to progress.”

Conduent fare collection systems are in use on more than 400 public transit networks of all sizes around the world. In addition to Brescia, Conduent has deployed contactless payment systems in more than 10 cities in Italy including BergamoVenice, and Verona.

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 53,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduenthttp://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Release – NeuroSense Confirms Favorable Safety and Tolerability of PrimeC in an Alzheimer’s Phase 2 Study

CAMBRIDGE, Mass., Dec. 22, 2025 /PRNewswire/ — NeuroSense Therapeutics Ltd. (NASDAQ: NRSN) (“NeuroSense”), a late-clinical stage biotechnology company developing novel treatments for severe neurodegenerative diseases, today reported completion of the safety analysis from its proof-of-concept Phase 2, randomized, double-blind, placebo-controlled NST-AD-001 study of PrimeC combination in Alzheimer’s disease.

The safety analysis indicated a favorable tolerability profile for PrimeC. No serious adverse events were reported, and no new or unexpected safety signals were identified.

As an exploratory proof-of-concept study, clinical outcome measures are descriptive by design. NeuroSense will analyze clinical observations alongside biomarker data to enable a more comprehensive interpretation of the clinical observations, with results expected in the first quarter of 2026.

About Alzheimer’s Disease

Alzheimer’s disease (AD) is a progressive neurodegenerative disorder and the leading cause of dementia worldwide, affecting more than 30 million people globally. AD is characterized by memory loss, cognitive decline, and behavioral changes, and currently has no cure. Existing therapies provide only limited symptomatic relief, leaving a significant unmet need for disease-modifying treatments that can slow or halt progression. Given the complexity of AD, approaches that target multiple disease mechanisms simultaneously, such as PrimeC, hold potential to deliver meaningful therapeutic advances for patients and their families.

About PrimeC

PrimeC, NeuroSense’s lead drug candidate, is a novel extended-release oral formulation composed of a unique fixed-dose combination of two FDA-approved drugs: ciprofloxacin and celecoxib. PrimeC is designed to synergistically target several key mechanisms of ALS and AD, that contribute to neuron degeneration, inflammation, iron accumulation and impaired ribonucleic acid (“RNA”) regulation to potentially inhibit the progression of ALS and AD.

About NeuroSense

NeuroSense Therapeutics, Ltd. is a clinical-stage biotechnology company focused on discovering and developing treatments for patients suffering from debilitating neurodegenerative diseases. NeuroSense believes that these diseases, which include amyotrophic lateral sclerosis (ALS), Alzheimer’s disease and Parkinson’s disease, among others, represent one of the most significant unmet medical needs of our time, with limited effective therapeutic options available for patients to date. Due to the complexity of neurodegenerative diseases and based on strong scientific research on a large panel of related biomarkers, NeuroSense’s strategy is to develop combined therapies targeting multiple pathways associated with these diseases.

For additional information, we invite you to visit our website and follow us on LinkedInYouTube and X. Information that may be important to investors may be routinely posted on our website and these social media channels.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on NeuroSense Therapeutics’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and include statements regarding the timing of regulatory filings, meetings and regulatory decisions. Further, certain forward-looking statements, including statements regarding the timing of the reporting of additional data from the study of PrimeC in Alzheimer’s disease, are based on assumptions as to future events that may not prove to be accurate. The future events and trends may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward looking statements. These risks include the uncertainty regarding outcomes and the timing of current and future clinical trials; timing for reporting data, including from the study of PrimeC in Alzheimer’s disease; that the study will not be successful; the ability of NeuroSense to remain listed on Nasdaq; and other risks and uncertainties set forth in NeuroSense’s filings with the Securities and Exchange Commission (SEC). You should not rely on these statements as representing our views in the future. More information about the risks and uncertainties affecting NeuroSense is contained under the heading “Risk Factors” in the Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 7, 2025 and NeuroSense’s subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and NeuroSense undertakes no duty to update such information except as required under applicable law.

Logo: https://mma.prnewswire.com/media/1707291/NeuroSense_Therapeutics_Logo.jpg

SOURCE NeuroSense

Gold and Silver Surge to All-Time Highs as Geopolitical Risks Reshape Global Markets

Gold and silver have surged to historic highs, underscoring a powerful shift in global investor sentiment as geopolitical tensions intensify and confidence in traditional financial systems continues to erode. The rally marks one of the strongest performances for precious metals in more than four decades, driven by a potent mix of political uncertainty, monetary policy expectations, and structural demand.

Gold briefly climbed above $4,400 per ounce, eclipsing its previous record set earlier this year, while silver pushed toward the $70 level, a price not seen in modern trading history. These moves are not isolated technical breakouts; they reflect a broader re-pricing of risk across global markets as investors seek safety amid escalating international conflicts and economic uncertainty.

Geopolitical flashpoints have multiplied in recent months. The United States has intensified economic and energy pressure on Venezuela, while the conflict between Russia and Ukraine has expanded beyond traditional battlefields into global shipping lanes. Meanwhile, rising tensions between major world powers — including strained U.S.–China relations and growing unease in parts of Asia — have added to a climate of persistent instability. Historically, such environments have favored hard assets, and this cycle is proving no different.

At the same time, expectations for looser monetary policy have reinforced the rally. Markets are increasingly pricing in multiple U.S. interest rate cuts in 2026 as economic data shows signs of cooling inflation and slower job growth. Lower interest rates tend to weaken the opportunity cost of holding non-yielding assets like gold and silver, making them more attractive relative to bonds and cash.

Central banks have played a critical role in underpinning gold’s rise. Official sector purchases remain elevated as nations diversify reserves away from the U.S. dollar and reduce exposure to sovereign debt. This trend has been amplified by political rhetoric that has raised concerns about the long-term independence of central banks and the sustainability of ballooning government deficits.

Investor demand has followed suit. Gold-backed exchange-traded funds have recorded steady inflows, while silver has benefited from speculative activity and lingering supply disruptions following a historic short squeeze earlier in the year. Industrial demand — particularly for silver and platinum in energy, technology, and manufacturing — has added another layer of support.

Beyond traditional investors, new participants are entering the precious metals market. Corporate treasuries, alternative asset managers, and even stablecoin issuers are increasingly using physical metals as balance-sheet hedges, broadening the capital base supporting prices and making demand more resilient.

Looking ahead, major financial institutions remain bullish. Several banks project gold prices continuing higher into 2026, citing constrained physical supply, sustained central-bank buying, and ongoing geopolitical risk. While short-term volatility is inevitable, the underlying drivers of the rally appear firmly intact.

In an era defined by geopolitical fragmentation, monetary uncertainty, and rising systemic risk, gold and silver are once again fulfilling their historical role: not just as commodities, but as financial insurance in an increasingly unpredictable world.

Bit Digital (BTBT) – WhiteFiber Snags a New Contract


Monday, December 22, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Contract. Late last week, Bit Digital’s key investment, WhiteFiber, announced its Enovum Data Centers Corp. subsidiary has executed a long-term colocation agreement with Nscale Global Holdings, an AI infrastructure and cloud services provider serving enterprise and public sector customers. The contract represents approximately $865 million in contracted revenue over the initial 10-year term.

NC-1. The agreement secures the first 40 megawatt delivery of critical IT load at WhiteFiber’s flagship NC-1 data center campus in Madison, North Carolina. The contract includes contractual annual rate escalators and required non-recurring installation services, but excludes electricity and certain other costs passed through to the customer. Nscale is deploying the capacity to power the AI infrastructure of leading global investment grade technology customers.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

AZZ (AZZ) – Updating Estimates; Maintaining Positive Outlook and Outperform Rating


Monday, December 22, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Updating estimates. While our fiscal year 2026 estimates are unchanged,we have increased our fiscal year 2027 adjusted EBITDA and EPS estimates to $387.8 million and $6.45 from $386.2 million and $6.41, respectively. Our estimates reflect modestly higher revenue for the Precoat Metals segment and lower interest expense relative to prior estimates. We have increased our FY 2027 capital expenditure estimate to $80 million from $70 million to reflect greater reinvestment in the base business, including capacity expansions. Our estimates do not reflect acquisitions until they are announced.

The benefits of a strong cash flow profile. After having significantly reduced its debt profile, AZZ continues to prioritize strategic bolt-on acquisitions as a central component of its growth strategy. In fiscal 2026 and beyond, capital allocation priorities have shifted to strategic M&A, high-return organic investments, and return of capital through growing dividends and share repurchases. We anticipate an annual increase to the quarterly dividend following the lead established during the first quarter of FY 2026. Based on its cash flow profile, we think share repurchases may go beyond a level that simply offsets dilution from management incentive compensation.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Alphabet Deepens AI Strategy With $4.75 Billion Acquisition of Clean Energy Developer Intersect

Alphabet is making a decisive move to secure the energy backbone of its artificial intelligence ambitions. The Google parent announced it will acquire clean energy developer Intersect in a $4.75 billion cash deal, including assumed debt, underscoring how access to power has become a strategic priority in the global AI race.

The acquisition comes as Big Tech companies pour billions into expanding computing capacity to support generative AI models, cloud services, and data centers — all of which require enormous and reliable amounts of electricity. As U.S. power grids strain to keep pace with surging demand, technology firms are increasingly turning upstream, investing directly in energy generation rather than relying solely on utilities.

Intersect brings scale that few developers can match. The company has roughly $15 billion in assets that are either operating or under construction, with projects expected to deliver about 10.8 gigawatts of power by 2028. That capacity is more than twenty times the electricity generated by the Hoover Dam, highlighting the magnitude of energy now required to sustain AI-driven growth.

Under the agreement, Alphabet will acquire Intersect’s energy and data center projects that are currently under development or construction. These assets are designed to support large-scale computing infrastructure, aligning closely with Google’s expanding network of U.S. data centers. Intersect’s operations will remain separate from Alphabet, preserving operational independence while strategically supporting Google’s long-term power needs.

Notably, Intersect’s existing operating assets in Texas and its operating and in-development projects in California will not be included in the deal. Those assets will continue as an independent business backed by existing investors. Among them is Quantum, a clean energy storage system in Texas built directly alongside a Google data center campus — a model increasingly favored by hyperscalers seeking to pair computing facilities with on-site or adjacent power sources.

The deal builds on Alphabet’s broader push into energy partnerships. Earlier this month, NextEra Energy expanded its collaboration with Google Cloud to develop new energy supplies across the U.S. Together, these moves signal a shift in how tech giants approach infrastructure: energy security is no longer a background consideration, but a core component of competitive advantage.

For Alphabet, the acquisition also reinforces its commitment to clean energy. As AI workloads expand, the environmental footprint of data centers has drawn scrutiny from regulators and investors alike. By investing directly in renewable generation and energy storage, Alphabet aims to mitigate emissions while insulating itself from grid bottlenecks, price volatility, and regulatory risk.

Intersect will also explore emerging energy technologies to diversify supply, according to Alphabet, positioning the company to adapt as AI-driven electricity demand continues to grow. This forward-looking approach reflects a broader industry trend, where control over power generation is becoming just as critical as control over chips, data, and algorithms.

Ultimately, Alphabet’s purchase of Intersect highlights a defining reality of the AI era: the battle for intelligence is also a battle for energy. As demand accelerates, companies that can secure scalable, reliable, and clean power may hold a decisive edge in shaping the future of technology.

BioMarin to Acquire Amicus Therapeutics for $4.8 Billion, Expanding Leadership in Rare Diseases

BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced it has entered into a definitive agreement to acquire Amicus Therapeutics (Nasdaq: FOLD) in an all-cash transaction valued at approximately $4.8 billion. Under the terms of the deal, BioMarin will acquire Amicus for $14.50 per share, representing a significant premium to Amicus’ recent trading levels. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals and Amicus shareholder approval.

The acquisition significantly expands BioMarin’s presence in the rare disease market by adding two marketed, high-growth therapies to its commercial portfolio. Amicus brings Galafold® (migalastat), an oral therapy for Fabry disease, and Pombiliti® (cipaglucosidase alfa-atga) in combination with Opfolda® (miglustat), a next-generation treatment for Pompe disease. Together, these products generated $599 million in revenue over the past four quarters, immediately strengthening BioMarin’s top-line growth profile.

From a strategic standpoint, the transaction deepens BioMarin’s focus on lysosomal storage disorders, an area where the company already has established expertise and commercial infrastructure. The addition of Amicus’ therapies is expected to accelerate BioMarin’s long-term revenue growth rate through 2030 and beyond, while diversifying its enzyme therapies business unit. BioMarin also plans to leverage its global commercial footprint to expand access to Galafold and Pombiliti + Opfolda in additional international markets.

The deal carries favorable financial implications for BioMarin shareholders. Management expects the acquisition to be accretive to non-GAAP diluted earnings per share within the first 12 months following closing and substantially accretive beginning in 2027. BioMarin intends to finance the transaction using a combination of existing cash and approximately $3.7 billion in new debt financing, with no equity issuance required. The company has stated that it remains committed to deleveraging, targeting gross leverage below 2.5x within two years after closing.

Importantly, a key overhang related to Galafold’s U.S. intellectual property has been resolved ahead of the acquisition. Amicus has settled ongoing patent litigation with generic challengers, securing U.S. exclusivity for Galafold until January 2037, barring limited customary exceptions. This resolution enhances revenue visibility and strengthens the long-term value of the Fabry franchise within BioMarin’s portfolio.

Beyond marketed products, Amicus also contributes pipeline optionality. The company holds U.S. rights to DMX-200, a Phase 3 investigational therapy for focal segmental glomerulosclerosis (FSGS), a rare and often fatal kidney disease. While not central to the acquisition thesis, the asset provides additional upside potential.

Overall, the acquisition underscores BioMarin’s capital allocation strategy of deploying its strong balance sheet to acquire de-risked, revenue-generating assets that align with its core rare disease focus. With immediate revenue contribution, improved earnings power, and expanded global reach, the Amicus transaction positions BioMarin to strengthen its leadership in rare diseases while delivering long-term shareholder value.

Greenwich LifeSciences, Inc. (GLSI) – FLAMINGO-01 Open-Label Arm Reports Preliminary Results and Reaches An Important Milestone


Friday, December 19, 2025

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Data Reported From the Open-Label Arm Of The FLAMINGO Trial Greenwich LifeSciences announced preliminary Phase 3 results from the open-label, non-HLA-A*02 arm of its FLAMINGO-01 trial. The data showed a reduction in breast cancer recurrence rates of about 80% for patients that completed the primary vaccination series (PIS) ofGLSI-100. In addition, the first patient has completed the full 3-year treatment.

FLAMINGO0-01 Divides Patients By Immune Classification. The FLAMINGO-01 trial divides patients by their HLA types, a system of classifying a patient’s immune response. Patients with the most common HLA type, HLA-A*02, have enter one of the double-blind placebo-controlled arms of the trial. About 250 patients with other HLA types have been entered into an open-label portion, referred to as non-HLA-A*02.


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