Tag: AI

Nvidia’s CES Comments Ignite Breakout Rally in Sandisk Shares

Posted on by slightbourne@noblecapitalmarkets.com

Sandisk Corp. has emerged as one of the most explosive stocks in the early days of 2026, with a rally that has captured Wall Street’s attention and reshaped expectations for the memory and storage sector. Shares of the company surged as much as 25% on Tuesday, marking their best intraday performance since February and pushing the stock to a fresh record high. The move followed comments from Nvidia Chief Executive Officer Jensen Huang at the CES technology conference, where he underscored the critical — and largely untapped — role of storage in the artificial intelligence boom.

Sandisk’s gains extend far beyond a single trading session. The stock has climbed more than 40% in the first three trading days of the new year and has skyrocketed roughly 1,050% since bottoming out in April 2025. On Tuesday alone, it stood as the best-performing stock in the S&P 500, outpacing peers across the memory and storage ecosystem. Western Digital and Seagate Technology also posted double-digit percentage gains, reflecting renewed enthusiasm for companies tied to data storage infrastructure.

At the heart of the rally are Huang’s remarks about what he described as a massive, underserved market. Speaking at CES, the Nvidia CEO said storage represents “a completely unserved market today,” adding that it could become the largest storage market in the world as it evolves to hold the working memory of artificial intelligence systems. His comments reinforced a growing narrative that AI’s next phase will not be limited to compute power alone, but will increasingly depend on fast, scalable, and affordable memory and storage solutions.

Industry fundamentals appear to support that thesis. According to Bloomberg Intelligence analyst Jake Silverman, tight supply conditions and rising memory prices are already benefiting digital storage companies. The surge in demand is being driven by both AI training and inferencing, which require enormous volumes of data to be stored, accessed, and processed efficiently. Huang’s CES commentary, Silverman noted, suggests that demand for NAND storage will remain strong across Nvidia-powered systems.

Pricing trends add further fuel to the bullish outlook. Memory prices have been climbing steadily, and reports from Korea Economic Daily indicate that Samsung Electronics and SK Hynix are seeking to raise server DRAM prices by as much as 60% to 70% in the first quarter compared with the prior quarter. Such increases signal a supply-demand imbalance that could continue to lift margins across the sector.

Wall Street analysts are increasingly framing Sandisk and its peers as central players in the next leg of the AI investment cycle. Bank of America analysts, led by Wamsi Mohan, recently described memory and storage companies as “key beneficiaries” of the push toward AI inferencing and edge computing in 2026. As organizations retain more data for training, analytics, and regulatory compliance, demand for storage is expected to surge. Mohan highlighted expanding use cases across drones, surveillance systems, vehicles, and sports technology as areas of rapid growth.

While the AI narrative has so far been dominated by capital spending on chips and data centers, analysts argue that the focus is beginning to shift. Looking ahead to 2026 and beyond, AI inferencing — and the storage required to support it — may dominate the next wave of hardware investment. For Sandisk, that shift has already translated into a historic rally, and investors are betting the momentum is far from over.

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

Posted on by slightbourne@noblecapitalmarkets.com

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.

Robinhood CEO’s AI Startup Harmonic Hits $1.45 Billion Valuation as It Pushes “Mathematical Superintelligence”

Posted on by slightbourne@noblecapitalmarkets.com

Harmonic, an emerging force in artificial intelligence research, has reached a valuation of $1.45 billion after closing a new $120 million Series C fundraise. Co-founded by Robinhood CEO Vlad Tenev, the company is pursuing one of the most difficult challenges in AI: eliminating hallucinations and improving models’ ability to reason with absolute accuracy.

The latest funding round was led by Ribbit Capital, with continued backing from Sequoia and Kleiner Perkins. Emerson Collective, the investment firm founded by Laurene Powell Jobs, also joined as a new investor. The deal marks Harmonic’s third major raise in just 14 months, bringing its total funding to $295 million—a remarkable trajectory for a company that has not yet commercialized its technology.

A Focus on AI That Doesn’t Guess

While most generative AI models excel at producing fluent text, images, and code, they also suffer from a core flaw: they can produce incorrect or fabricated answers. Harmonic’s approach seeks to eliminate this issue entirely by building what it calls Mathematical Superintelligence (MSI)—an AI system grounded in formal logic and verifiable reasoning.

At the core of Harmonic’s research is its flagship model, Aristotle, which is trained on synthetic mathematical proofs. These computer-generated examples allow the model to strengthen its problem-solving skills and operate with precision rather than probabilistic guessing.

Aristotle’s performance has already drawn significant attention. In July, the model performed at the International Mathematical Olympiad, placing alongside teams from Google and OpenAI. This achievement helped validate Harmonic’s focus on advanced reasoning and contributed to heightened investor interest.

Formal Reasoning as the Foundation

Unlike most AI models that express reasoning in natural language, Harmonic’s system produces its reasoning as Lean4 code, a formal language that can be checked step-by-step for correctness. This approach aims to make the model’s output not only accurate but fully verifiable.

This design offers a major advantage in fields where errors can lead to significant financial, safety, or operational consequences. Harmonic sees strong long-term potential in industries such as aerospace, finance, automotive systems, and cybersecurity, where decision-making must be reliable and traceable.

Preparing for Commercial Uses

For now, Harmonic’s technology remains primarily research-focused, and the company is still pre-revenue. However, it has opened its Aristotle model to the public through a free API, allowing developers, researchers, and mathematicians to experiment with its reasoning capabilities. Early users have leveraged the tool to verify proofs, test algorithms, and explore new mathematical discoveries.

A significant portion of the new funding will support the large-scale computing resources required to train high-precision reasoning models. As Harmonic scales, it expects to explore commercial applications, particularly in areas where traditional AI systems lack the reliability necessary for mission-critical environments.

A New Frontier for Trustworthy AI

With hallucinations remaining one of the largest barriers to widespread AI deployment, Harmonic is positioning itself at the forefront of a new generation of models: systems built not just to generate answers, but to justify them through rigorous, machine-verifiable logic.

Its latest valuation underscores a growing belief among investors that the next wave of AI innovation will be defined by accuracy, transparency, and trust—not just raw model size.

As Harmonic continues its research, the industry will be watching closely to see how Mathematical Superintelligence evolves and whether it can redefine what reliable AI looks like in practice.

Adobe’s $1.9B Acquisition of Semrush Signals a Major Power Shift in Brand Visibility for the Agentic AI Era

Posted on by slightbourne@noblecapitalmarkets.com

Adobe’s latest acquisition marks one of the most significant moves yet in the evolution of how brands manage visibility, discoverability, and customer engagement in an AI-driven world. On November 19, 2025, Adobe announced a definitive agreement to acquire Semrush Holdings, Inc. in an all-cash deal valued at approximately $1.9 billion, or $12.00 per share. The acquisition unites Adobe’s expansive customer experience and content orchestration tools with Semrush’s deep capabilities in search engine optimization (SEO) and the rapidly emerging field of generative engine optimization (GEO).

Adobe has been at the forefront of enabling enterprises to reimagine their customer experience workflows through agentic AI—AI that can plan, initiate, and optimize tasks autonomously. Tools such as Adobe Experience Manager (AEM), Adobe Analytics, and the newly introduced Adobe Brand Concierge reflect the company’s commitment to helping brands create, manage, and deliver content at scale. These products support a content supply chain that aligns with the needs of enterprises navigating new customer interfaces powered by large language models (LLMs).

Semrush’s inclusion strengthens Adobe’s position dramatically. As brands increasingly confront the challenge of remaining visible across traditional search engines and emerging AI-driven discovery channels, Semrush provides a powerful layer of intelligence and optimization. The company is widely known for its decade-long leadership in SEO analytics and has recently become a leading force in GEO—an emerging discipline focused on helping brands remain discoverable within AI-powered platforms, from LLMs to generative search engines.

The acquisition comes at a time when consumer behavior is rapidly shifting. With more customers receiving answers, recommendations, and purchase guidance from platforms like ChatGPT and Google Gemini, brand visibility is no longer confined to search engine rankings or owned channels. It now includes how a brand appears within LLM outputs, conversational AI systems, and algorithm-driven summaries. Organizations that fail to adapt to these dynamics risk losing relevance across key digital touchpoints.

Semrush brings enterprise-grade capabilities and impressive momentum to Adobe’s ecosystem. Its generative marketing tools are already being used by major brands, and the company recently reported 33% year-over-year Annual Recurring Revenue growth in its enterprise segment. This traction reflects a growing need among marketers who now rely on SEO and GEO teams to drive visibility strategies in generative environments.

Together, Adobe and Semrush will offer marketers a unified solution that spans the entire spectrum of brand exposure—owned websites, search engines, LLM responses, and the broader web. By integrating Semrush’s data intelligence into Adobe’s customer experience tools, the combined platform is designed to give organizations a holistic, real-time understanding of how their brand appears and performs across both traditional and AI-driven discovery channels.

This acquisition positions Adobe to become a central player in helping enterprises navigate the next phase of AI-enabled marketing. As AI continues reshaping how consumers gather information, evaluate options, and make buying decisions, Adobe’s expanded ecosystem aims to ensure that brands remain both discoverable and competitive in an increasingly complex digital landscape.

Google Launches Gemini 3, Accelerating Its AI-First Strategy in Search and Enterprise

Posted on by slightbourne@noblecapitalmarkets.com

Google’s launch of Gemini 3 marks a major milestone in the rapidly evolving artificial intelligence landscape. As competition intensifies among leading AI developers, Google is positioning this new model as a turning point—one that strengthens its hold on the search market while expanding deeper into enterprise applications. Unlike previous releases, Gemini 3 became part of Google’s profit-driven ecosystem immediately, reflecting the company’s shift toward deploying AI technologies that generate revenue from day one.

The model arrives less than a year after its predecessor, showing Google’s determination to accelerate innovation cycles. While AI benchmarks and leaderboard rankings still matter, the broader market has become more focused on practical use cases that drive growth. Investors have increasingly evaluated companies not on technical capabilities alone, but on how effectively those capabilities translate into profitable products. In this respect, Gemini 3 enters the market at a critical time. Alphabet’s stock performance throughout the year has been influenced heavily by its success in monetizing AI tools within its cloud business, and the new model is expected to strengthen that trend.

One of the biggest shifts comes from Google embedding Gemini 3 directly into its search engine at launch. Historically, new AI models took weeks or months to integrate into search, but the company is taking a more aggressive approach. Paying users of Google’s premium AI plan now gain access to enhanced capabilities in AI Mode, a feature designed to handle complex queries with computer-generated responses instead of traditional website listings. This move reflects Google’s ongoing effort to redefine search as an AI-first experience, even as it raises concerns among content publishers who depend on organic traffic.

Gemini 3 also brings a series of upgrades in reasoning, coding, and task execution, allowing Google to introduce new functions stretching across its consumer and enterprise user base. One of the most notable additions is Gemini Agent, a feature built to handle multi-step tasks. It can manage workflow-related actions such as organizing emails or coordinating travel, pushing Google closer to its long-term vision of a universal AI assistant. The redesigned Gemini app supports this direction as well, offering interactive and visually rich responses that resemble entire web pages rather than simple text answers.

On the enterprise side, Google unveiled Antigravity, a development platform that enables AI agents to plan and carry out software tasks autonomously. This tool aims to shift how companies build software by reducing manual intervention and speeding up development cycles. As organizations explore ways to streamline operations with AI, products like Antigravity could play a significant role in reshaping development teams and workflows.

Gemini 3’s release highlights a broader trend in the AI industry: the transition from experimental technology to integrated, revenue-producing systems. With competitors like Anthropic, Meta, and OpenAI also pushing rapid updates, the pressure to deliver commercially useful products has never been higher. By launching its new model directly into core products and expanding its suite of AI-powered features, Google is making a clear statement that the next stage of AI growth depends on adoption at scale. Gemini 3 represents not just a model upgrade, but a restructuring of how Google delivers value in a market where speed, utility, and profitability increasingly define leadership.

Berkshire’s Rare Tech Move Sends Alphabet Stock to All-Time High

Posted on by slightbourne@noblecapitalmarkets.com

Alphabet shares surged to a record high on Monday, climbing nearly 6% after Berkshire Hathaway disclosed a new multibillion-dollar stake in the Google parent company. The purchase, totaling 17.85 million shares valued at approximately $4.9 billion, marks one of Berkshire’s final large investments under Warren Buffett’s leadership — and a notable shift for a conglomerate traditionally cautious about high-growth tech stocks.

Berkshire’s move represents a major endorsement of Alphabet’s expanding artificial intelligence strategy during a period of heightened scrutiny across the tech sector. While many investors have begun questioning whether the rapid rise of AI-driven valuations is sustainable, Berkshire’s investment signals confidence in Alphabet’s fundamentals and its long-term ability to capitalize on AI innovation.

The investment also stands out given Berkshire’s historic stance on technology. Although Apple remains Berkshire’s largest holding, Buffett has long viewed it as more of a consumer products company than a pure tech play. A direct investment in Alphabet, however, reflects a meaningful step toward embracing companies at the center of the AI revolution. Market strategists point out that the move aligns with value-investing principles, given Alphabet’s comparatively attractive valuation relative to other AI frontrunners.

Investor sentiment around tech has become more cautious in recent months. Business leaders and market analysts have warned that the AI boom — powered by heavy data-center spending and ambitious product pipelines — could be creating inflated expectations. The Roundhill Magnificent 7 ETF, which tracks top tech names such as Microsoft, Nvidia, and Alphabet, has been mostly flat since September after significantly outperforming the broader market earlier in the year.

Despite the broader slowdown, Alphabet has stood out as one of the strongest performers among the “Magnificent Seven” stocks. Shares have surged nearly 14% in the current quarter and are up 46% year-to-date, making it the group’s top performer. Analysts attribute this strength to Alphabet’s accelerating AI investments, robust cloud division growth, and its ability to leverage its massive advertising business to fund further innovation.

Alphabet also trades at a relative discount compared to its peers, with shares valued at roughly 25 times forward earnings estimates. Microsoft trades at 29 times, while Nvidia approaches 30 — making Alphabet an appealing option for an investor focused on balancing growth potential with valuation discipline.

CFRA analysts highlight that Berkshire’s investment validates Alphabet’s strategic direction, particularly around Google Cloud and the expanding Gemini AI ecosystem. Recent earnings revealed that AI-powered tools and infrastructure investments are helping transform Google Cloud into a major growth engine, reversing its earlier status as a distant third player in the cloud market.

The move also reflects a bit of unfinished business for Buffett, who has previously acknowledged regretting missing the chance to invest in Google early on. With Berkshire preparing for leadership transition as Greg Abel is set to assume the CEO role at the end of 2025, the investment may represent a final major pivot toward companies leading the next technological era.

Alphabet’s rally could add roughly $180 billion in market value if gains hold. And with Berkshire’s reputation for long-term conviction, the investment has quickly captured the attention of both institutional and retail investors — offering a strong signal of confidence amid an increasingly cautious tech landscape.

Anthropic to Invest $50 Billion in U.S. AI Infrastructure, Beginning with Texas and New York Data Centers

Posted on by slightbourne@noblecapitalmarkets.com

Anthropic, one of the fastest-growing artificial intelligence firms in the world, has announced an ambitious $50 billion plan to expand its U.S. infrastructure footprint through a series of advanced data centers starting in Texas and New York. The project, developed in partnership with AI cloud platform Fluidstack, positions the company as a major force in the domestic AI buildout race.

The initiative will fund the creation of custom-designed facilities built specifically to handle Anthropic’s rapidly scaling AI models and enterprise workloads. The company said the first sites will go live in 2026 and are expected to generate 800 permanent jobs and more than 2,000 construction roles across both states.

By building its own network of high-performance data centers, Anthropic aims to ensure greater control over compute availability, energy efficiency, and long-term scalability — key components in the race to dominate AI infrastructure. The decision also aligns with growing policy pressure from Washington to keep cutting-edge AI capacity within U.S. borders, protecting national interests and technological sovereignty.

This investment underscores Anthropic’s aggressive growth trajectory and signals that the company is willing to match, if not challenge, industry leader OpenAI’s spending spree. OpenAI has already committed more than $1.4 trillion in long-term infrastructure investments through partnerships with Nvidia, Oracle, Broadcom, Microsoft, and Google.

Anthropic’s partnership with Fluidstack — known for supplying GPU clusters to major AI players like Meta, Midjourney, and Mistral — reflects a strategic effort to move fast. Fluidstack’s expertise in scaling GPU infrastructure at record speed and efficiency gives Anthropic a distinct operational advantage as competition for compute power intensifies.

The company’s enterprise business has surged dramatically over the past year, serving more than 300,000 organizations. The number of enterprise accounts generating over $100,000 annually has nearly increased sevenfold, with projections showing Anthropic could reach profitability by 2028. By comparison, OpenAI is still expected to report multi-billion-dollar operating losses through that same period.

Beyond Texas and New York, Anthropic’s infrastructure expansion already includes a massive $11 billion data center campus in Indiana, developed with Amazon. The facility is operational, providing Anthropic with one of the largest AI-focused compute environments in the U.S. The company has also expanded its long-term compute partnership with Google, with additional commitments valued in the tens of billions.

Industry observers say Anthropic’s move could reshape the competitive landscape of AI infrastructure, helping to diversify the market beyond the dominance of hyperscale cloud providers. However, the scale of AI-related construction and energy use is prompting questions about sustainability and grid capacity — particularly as multiple firms rush to deploy gigawatt-scale facilities across the country.

With a $50 billion budget and an expanding nationwide footprint, Anthropic is betting big on the idea that the next wave of AI breakthroughs will depend not just on smarter algorithms, but on physical infrastructure capable of powering them at scale.

SoftBank Sells $5.8 Billion Nvidia Stake to Fuel Expanding AI Ambitions

Posted on by slightbourne@noblecapitalmarkets.com

SoftBank Group Corp. has sold its entire stake in Nvidia Corp. for $5.83 billion, marking another major move by founder Masayoshi Son to fund his growing ambitions in artificial intelligence. The sale underscores SoftBank’s shift toward becoming a central player in the AI ecosystem—one that spans data centers, chip design, robotics, and advanced cloud infrastructure.

The decision to sell Nvidia shares comes as global investors question whether massive AI spending—expected to exceed $1 trillion by companies like Meta Platforms and Alphabet—will produce long-term profits. Despite this uncertainty, Son continues to double down on AI, redirecting proceeds into projects such as Stargate, a mega data center venture being developed in collaboration with OpenAI and Oracle Corp.

SoftBank’s U.S.-listed shares rose more than 7% following the announcement, while Nvidia’s stock slipped over 3% during trading on Tuesday. The move illustrates the shifting balance of investor sentiment as capital flows from established AI leaders toward emerging infrastructure and hardware bets.

According to SoftBank executives, the Nvidia sale was not due to concerns about the chipmaker but rather a strategic move to free up capital. Chief Financial Officer Yoshimitsu Goto emphasized that the proceeds will be used to finance new AI initiatives, though he declined to comment on whether the sector is currently in a bubble.

This is not the first time SoftBank has exited Nvidia. The company sold its previous stake in 2019, only to re-enter the stock in 2020—just before Nvidia’s meteoric rise fueled by the AI boom. By March 2025, SoftBank had quietly accumulated a $3 billion position in Nvidia, which has since surged by more than $2 trillion in market value amid the global AI frenzy.

The timing of the sale proved highly profitable for SoftBank. The company recently reported a ¥2.5 trillion ($16.2 billion) net income for its fiscal second quarter, driven by its holdings in OpenAI, Arm Holdings, and other AI-focused firms. Analysts expect SoftBank to post its strongest annual profit since 2020, with the Nvidia sale adding significant liquidity to support its ongoing expansion.

Son’s AI roadmap is ambitious. In addition to the Stargate data center network, SoftBank is pursuing a $1 trillion AI manufacturing hub in Arizona, potential collaborations with Taiwan Semiconductor Manufacturing Co. (TSMC), and the acquisition of Ampere Computing LLC for $6.5 billion. The company has also agreed to purchase ABB Ltd.’s robotics division for $5.4 billion—moves that signal a vertically integrated AI empire in the making.

SoftBank’s financial strategy has been equally bold. It recently expanded its margin loan backed by Arm shares to $20 billion, secured an $8.5 billion bridge loan for its OpenAI investment, and committed the full $22.5 billion originally pledged to the AI startup.

The Japanese conglomerate’s stock has surged nearly 78% over the past quarter, its best performance in two decades. The company also announced a 4-for-1 stock split effective January 1, 2026, aimed at making its shares more accessible to retail investors.

As Son pushes deeper into the AI frontier, SoftBank’s latest divestment highlights both opportunity and risk. While the Nvidia exit frees billions for new ventures, it also removes exposure to one of the most successful AI chipmakers of the decade. Still, for Masayoshi Son, the message is clear: SoftBank’s future lies not in following AI’s leaders, but in building the infrastructure that powers them.

Rumble to Acquire Northern Data in Major AI Infrastructure Expansion

Posted on by slightbourne@noblecapitalmarkets.com

Rumble Inc. announced plans to acquire Northern Data AG, a European leader in artificial intelligence and high-performance computing infrastructure, marking a transformative moment for the company’s growing cloud division. The agreement represents a bold step in Rumble’s “Freedom-First” vision—an initiative centered on building technology that prioritizes privacy, independence, and resilience over centralized control.

Under the terms of the deal, Rumble will launch a voluntary public exchange offer to Northern Data shareholders, granting them newly issued Rumble shares in return. Once completed, the transaction will give Rumble access to one of Europe’s largest GPU fleets—approximately 22,000 Nvidia units, including the latest H100 and H200 chips—and a globally distributed network of data centers. This infusion of infrastructure will allow Rumble to expand its cloud services dramatically while strengthening its foothold in the global AI ecosystem.

The acquisition also accelerates Rumble’s international growth strategy, extending its reach beyond North America into major European markets such as Germany, Sweden, Norway, Portugal, the Netherlands, and the United Kingdom. Northern Data’s energy-efficient data centers and liquid-cooled GPU technology will provide Rumble with a strong foundation to compete in high-performance computing and AI training at scale.

A major backer of the deal is Tether, which made a $775 million strategic investment in Rumble earlier this year. Tether’s continued involvement underscores the growing alignment between decentralized finance and digital infrastructure, and the company is expected to serve as a key customer following the transaction’s completion. Together, Rumble, Northern Data, and Tether aim to form a vertically integrated AI ecosystem designed to challenge the dominance of established technology giants.

In addition to its infrastructure assets, Northern Data brings expertise in managing complex compute operations and optimizing power efficiency—critical advantages as demand for GPU-based AI processing surges worldwide. The company’s Maysville, Georgia facility alone is expected to deliver up to 180 megawatts of capacity once complete, contributing significantly to Rumble’s total data center output.

Beyond scaling capacity, Rumble expects the acquisition to fuel innovation across its video, creator, and advertising businesses. Access to advanced AI hardware will accelerate the company’s efforts to integrate machine learning into content delivery, recommendation systems, and advertising solutions. The move also supports Rumble’s broader ambition to develop complementary services such as AI chatbots, cloud productivity tools, and financial applications under the Rumble Wallet brand.

The exchange offer is expected to close in the second quarter of 2026, pending regulatory approvals. Northern Data shareholders will own roughly 30% of the combined company after the transaction, reflecting the strategic significance of the merger. Once finalized, Northern Data plans to delist its shares, with no separate offer required since it is not traded on a regulated market.

For Rumble, the acquisition represents far more than an infrastructure upgrade—it signals an intent to redefine how technology infrastructure is built and governed. By merging AI computing power, distributed data networks, and financial independence, the company aims to create a sustainable foundation for a new era of digital freedom.

Perfect (PERF) – Turning the Corner to Operating Profit

Posted on by slightbourne@noblecapitalmarkets.com


Wednesday, October 29, 2025

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

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

Q3 beat. Perfect reported Q3 revenue of $18.7 million, up 15.7% Y/Y and above our estimate of $17.8 million, with adj. EBITDA of $1.2 million, double expectations. Revenue growth was led by strong B2C performance. The company also achieved its first quarter of operating profit, reflecting greater scale efficiency and disciplined cost control.

Continued strength in B2C. YouCam subscribers totaled 946K, down slightly, likely due to price hikes that the company initiated, which have led to higher revenue per user. B2C strength remains solid, supported by the YouCam AI Agent, which links apps under a unified login to personalize experiences and increase retention. Two apps are integrated, with full rollout expected by year-end.


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Nvidia Becomes World’s First $5 Trillion Company, Fueling Broader AI Sector Momentum

Posted on by slightbourne@noblecapitalmarkets.com

Nvidia has officially become the first company in history to surpass a $5 trillion market capitalization, cementing its dominance in the artificial intelligence (AI) revolution and signaling a powerful shift in the global technology landscape. The company’s rise — powered by record demand for AI hardware and deep partnerships across industries — is sending ripple effects through the broader tech market, particularly among smaller players looking to capture their share of AI-driven growth.

The milestone, achieved after a 3.4% surge in Nvidia’s stock on Wednesday, underscores investor conviction in AI as a defining megatrend of the decade. Nvidia’s flagship GTC event amplified that momentum, featuring new collaborations across supercomputing, robotics, self-driving technology, pharmaceuticals, and 6G telecom infrastructure. These partnerships — spanning names like Uber, Palantir, Eli Lilly, and Oracle — showcase how deeply Nvidia’s technology is embedded in nearly every major industry.

But beyond the headline number, Nvidia’s success story holds significant implications for small-cap investors. As Nvidia scales its AI infrastructure globally, it creates massive downstream demand for smaller companies involved in the supply chain — from semiconductor component suppliers and circuit board manufacturers to cooling system specialists, data center builders, and power management innovators. Many of these firms trade in the small-cap space, where growth potential often accelerates once industry giants expand their spending.

For example, Nvidia’s partnership with the U.S. Department of Energy to build seven new supercomputers — including one powered by 10,000 Blackwell GPUs — will require a vast ecosystem of supporting technologies. Companies producing advanced materials, thermal management solutions, or even power delivery systems are poised to benefit as AI hardware capacity scales. This trickle-down effect is giving smaller, often under-the-radar players new relevance as key enablers of the AI revolution.

Recent comments from President Trump ahead of his meeting with Nvidia CEO Jensen Huang added further fuel to the rally, hinting at possible approval for new chip exports to China. While Nvidia itself stands to gain directly from a reopened Chinese market, many smaller semiconductor and logistics firms could see indirect benefits through increased trade volume and component demand.

At the same time, Nvidia’s rise to a $5 trillion valuation also highlights the widening gap between mega-cap leaders and emerging competitors. This dynamic often drives investors to seek opportunities among smaller, more agile firms that can innovate faster or serve niche markets overlooked by giants. Small-cap semiconductor developers, specialized software providers, and manufacturing partners could all capture new contracts as AI adoption accelerates across industries.

For small-cap investors, Nvidia’s historic milestone isn’t just a headline — it’s a signal. The company’s continued dominance validates AI’s long-term growth story, but it also points to a new wave of opportunity in the ecosystem surrounding it. Companies supplying energy-efficient chips, precision cooling systems, or automation technologies could become the next big winners as global demand for AI infrastructure scales beyond what even Nvidia can deliver alone.

As AI reshapes industries from finance to manufacturing, the small-cap space may once again become the breeding ground for the next generation of tech leaders — powered, in part, by the unprecedented rise of Nvidia.

Google to Invest $15 Billion in First AI Hub in India

Posted on by cpatches

New Visakhapatnam facility to accelerate AI innovation, expand infrastructure, and strengthen India–U.S. tech collaboration

Google announced plans to establish its first artificial intelligence (AI) hub in Visakhapatnam (Vizag), Andhra Pradesh, marking its largest-ever investment in India. The $15 billion (USD) commitment, spread over five years from 2026 to 2030, will create a world-class AI and data center ecosystem designed to advance India’s digital and economic transformation.

The new AI hub will integrate AI infrastructure, data center capacity, clean energy generation, and an expanded fiber-optic network, positioning Visakhapatnam as a major AI and connectivity hub for both India and global markets. Developed in partnership with AdaniConneX and Airtel, the purpose-built data center campus will provide gigawatt-scale compute capacity and support low-latency, high-performance AI workloads.

“This digital infrastructure will go a long way in meeting the goals of our India AI mission,” said Shri Ashwini Vaishnaw, India’s Minister for IT. “We thank Google for making this $15 billion investment and for helping re-skill and upskill our IT professionals as part of their agenda.”

Thomas Kurian, CEO of Google Cloud, described the investment as a “landmark step in India’s digital future,” adding that the project reflects a shared commitment by the Indian and U.S. governments to harness AI responsibly for societal benefit.

The initiative aligns with India’s Viksit Bharat 2047 vision, which seeks to drive AI-powered innovation and digital inclusion. According to Google, the hub is expected to generate at least $15 billion in U.S. GDP over five years, reflecting new cross-border economic activity driven by cloud and AI adoption.

The AI hub will also include construction of a new international subsea gateway, connecting multiple subsea cables to Visakhapatnam and integrating with Google’s global network of over two million miles of terrestrial and subsea fiber. The gateway will enhance India’s digital resilience and provide new high-capacity, low-latency pathways that complement existing cable landings in Mumbai and Chennai.

When operational, the Visakhapatnam hub will join Google’s network of AI data centers across 12 countries, benefiting from technology developed by R&D teams in Bengaluru, Hyderabad, and Pune. The project will also advance Google’s sustainability goals, incorporating clean energy generation, transmission lines, and storage systems in Andhra Pradesh to power the facility responsibly.

The announcement comes amid ongoing trade tensions between India and the U.S., including recent tariff disputes and calls for boycotts of foreign goods. Despite the backdrop, Indian officials have reaffirmed their commitment to supporting U.S. investment and facilitating ease of business for multinational partners.

Google’s $15 billion plan follows the company’s broader global data center expansion, with $85 billion in infrastructure spending expected this year alone as demand for AI-driven services accelerates worldwide.

Bloom Energy Soars on $5 Billion AI Infrastructure Partnership with Brookfield Asset Management

Posted on by cpatches

Deal positions Bloom as a preferred power provider for Brookfield’s global AI factories and marks Brookfield’s first investment in its dedicated AI Infrastructure strategy

Shares of Bloom Energy (NYSE: BE) surged more than 20% in early trading Monday after the company announced a $5 billion strategic partnership with Brookfield Asset Management (NYSE: BAM, TSX: BAM) to develop and power next-generation AI infrastructure.

Under the agreement, Brookfield will invest up to $5 billion to deploy Bloom’s advanced fuel cell technology as the companies collaborate on the design and construction of “AI factories” — large-scale data centers purpose-built to meet the surging compute and energy demands of artificial intelligence. Bloom Energy will serve as Brookfield’s preferred onsite power provider for these facilities worldwide.

The partnership marks the first phase of a joint AI infrastructure vision and represents Brookfield’s inaugural investment through its newly established AI Infrastructure strategy, which focuses on power, compute, and capital integration for AI data centers. The two companies plan to announce their first European site before the end of the year.

“AI infrastructure must be built like a factory — with purpose, speed, and scale,” said KR Sridhar, Founder, Chairman and CEO of Bloom Energy. “AI factories demand massive power, rapid deployment and real-time responsiveness that legacy grids cannot support. Together with Brookfield, we’re creating a new blueprint for powering AI at scale.”

“Behind-the-meter power solutions are essential to closing the grid gap for AI factories,” added Sikander Rashid, Global Head of AI Infrastructure at Brookfield. “Bloom’s advanced fuel cell technology gives us the unique capability to design and construct modern AI factories with a holistic and innovative approach to power needs.”

A Blueprint for the AI Era

AI data centers are projected to require over 100 gigawatts of power in the U.S. alone by 2035, according to industry estimates. Bloom Energy’s solid oxide fuel cells generate electricity through chemical reactions rather than combustion, providing clean, resilient, and rapidly deployable onsite power — an attractive alternative to traditional grid dependency.

Bloom has already installed hundreds of megawatts of fuel cell systems supporting data centers for American Electric Power, Equinix, and Oracle. The company’s systems can be scaled modularly, reducing construction timelines and improving energy efficiency for high-demand AI applications.

Brookfield, one of the world’s largest alternative asset managers with over $1 trillion in assets under management, has been expanding aggressively into digital and energy infrastructure. Recent commitments include $9.98 billion to develop an AI data center in Sweden and €20 billion for AI projects in France. The firm also holds major stakes in Compass Datacenters, Duke Energy Florida, Colonial Enterprises, and Hotwire Communications, and recently inked a deal to supply Google with up to 3 GW of hydro power in the U.S.

Strategic Implications

The partnership underscores a growing convergence between energy technology and AI infrastructure. As the global race to build AI data centers accelerates, the need for reliable, low-carbon power sources has become a critical bottleneck. Brookfield’s capital and infrastructure expertise, combined with Bloom’s clean power solutions, could provide a scalable model for sustainable AI expansion.

For Bloom Energy, the partnership offers both near-term revenue visibility and long-term positioning at the center of AI-driven energy demand growth. For Brookfield, it establishes a strategic foothold in the AI ecosystem— one that aligns with its global energy transition and infrastructure investment priorities.