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JPMorgan Chase is a global financial services firm, providing solutions to important companies, governments, and institutions in more than 100 countries and territories around the world. The company and its foundations donate approximately $200 million annually to non-profit organizations around the world. Additionally, the company organizes employees to volunteer in local communities, leveraging its resources such as access to financing, economies of scale, global reach, and expertise.
JPMorgan: SpaceX Compute Target at 13 Gigawatts, Target Price Raised to $500
JPMorgan estimates that the commercial value of Vera Rubin is approximately 40% higher than that of the leading GB300 system, with compute scaling and premium monetization supporting the annual recurring revenue target. The report maintains an overweight rating and raises the price target from $240 to $500, based on a 20x multiple applied to the 2028 GAAP EPS of $24.41. Current price: $147.79.
JPMorgan CEO: U.S. Economy Shows Robust Performance but Faces Inflation, Deficit, and Geopolitical Risks
JPMorgan CEO Jamie Dimon stated that the US economy is currently in good shape overall, supported by solid corporate earnings, a resilient labor market, and relatively manageable debt levels for both businesses and households. However, short-term economic resilience does not mean risks have been eliminated. Dimon warned that the US economy still faces three major threats: sticky inflation continuing to suppress purchasing power and constrain monetary policy flexibility; massive government fiscal deficits pushing up interest obligations and financing costs; and potential cascading impacts from overseas geopolitical conflicts. He noted that an economic downturn is inevitable, but the exact triggers and timing of the next recession are difficult to predict precisely, necessitating prudent preparation for the potential shockwaves from compounding unforeseen events.
U.S. Consumer and Credit Remain Resilient, Q3 Earnings from Four Major Banks Show Active AI Financing Demand
Odaily reports: qinbafrank posted on X platform that Q3 earnings released by JPMorgan, Goldman Sachs, Citi, and Wells Fargo show U.S. consumer spending remains resilient, corporate credit at major banks continues to expand, and actual credit losses have not broadly risen. JPMorgan's credit card spending grew 10% year-over-year this quarter, with a net charge-off rate of 1.27%; JPMorgan, Citi, and Wells Fargo saw average loans grow 10%, 12%, and 11% year-over-year, respectively. Goldman Sachs stated that client demand for computing power exceeds supply, providing opportunities for financing arrangements, but the firm will remain selective on underwriting and capital commitments; JPMorgan's CFO said AI financing demand and project pipeline remain active, while deal pace will be influenced by valuations and market conditions.
JPMorgan: IGV up 21% over two months, recommends Microsoft, ServiceNow, Snowflake
According to research, J.P. Morgan's report dated October 8, 2026 states that the Software Index ETF (IGV) has gained 21% since late June, infrastructure software is up 78% year-to-date, average revenue for infrastructure software beat estimates by 3.6% last quarter, and application software beat estimates by 1.4%. J.P. Morgan concludes that infrastructure software strength is driven by earnings upgrades, while application software strength comes from valuation re-rating. The bank recommends Microsoft, ServiceNow, Cloudflare, and Snowflake; expects Microsoft Copilot new seat additions to reach or exceed approximately 10 million, matching last quarter; notes ServiceNow's current remaining performance obligations exceeded expectations by roughly 200 basis points; downgrades HubSpot to Neutral with a lowered target price from $268 to $240; and raises Twilio's target price from $260 to $335.
JPMorgan: Tech Valuations Fully Contracted, Semiconductors Outperform Software
According to Trend Research, a JPMorgan research report dated September 28, 2026 notes that the technology and AI ecosystem stagnated for three months from June through last week, though valuation downgrades have already become highly pronounced across most sectors. Forward earnings for semiconductors continue to climb by approximately 30%, while software has seen almost no earnings upgrades. Valuations for the Tech Seven Giants have fallen to ten-year lows, trading at nearly one standard deviation below the broader market. Capital expenditures by hyperscalers are projected to grow at a 28% compound annual growth rate through 2030. JPMorgan argues that with cleaner positioning, persistent earnings momentum, and an intact capital expenditure upcycle, it advises re-entering the technology sector and reopening a semiconductor-over-software pair trade. Agentic AI is pushing the CPU-to-GPU ratio from 1:4 to 1:8 toward 1:1, providing tailwinds for CPU-related names.
Physical AI company SiMa.ai announces completion of $150 million Series C funding round led by Amplify and others
Odaily News: Physical AI company SiMa.ai has announced the completion of a $150 million Series C funding round, co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, Point72, StepStone Group, and others. AllianceBernstein, Baron Capital, JPMorgan Chase, and the State of Michigan joined as new investors. The company's cumulative funding has reached $500 million, with a valuation of $1.45 billion. It is reported that the funds will be used to accelerate the scaling of its Palette Neat agent software environment, and the company plans to launch a dedicated physical AI chip capable of achieving 1000 dense TOPS of computing power in the first half of 2028. (Businesswire)
JPMorgan Asset Management Launches Tokenized Money Market Fund on Solana
According to PR Newswire, J.P. Morgan Asset Management announced on October 22 that its tokenized money market funds MONY and JLTXX are now live on the Solana blockchain and available to eligible U.S. investors. Eligible investors can subscribe and redeem through its institutional trading platform, Morgan Money, and receive their token balances at their own blockchain addresses. MONY is a private fund established under Rule 506(c), launched in December 2025. At that time, J.P. Morgan became the first global systemically important bank to launch a tokenized money market fund on a public blockchain. JLTXX is a U.S.-registered government money market fund, with an investment approach designed to support stablecoin issuers under the framework of the GENIUS Act.
JPMorgan: Regulatory measures can partially offset the impact of the stalled Clarity Act, but political and legal risks remain.
According to The Block, JPMorgan analysts including Nikolaos Panigirtzoglou stated in Wednesday's report that recent actions by U.S. regulators are partially offsetting the adverse impact of the Senate's failure to advance the Clarity Act, but until a crypto market structure bill is enacted, the political and legal risk premium will persist. Analysts note that regulator-driven measures could encourage institutional participation in the short term, but only legislation can ensure a more durable regulatory framework. If the Democratic Party wins the White House, existing regulatory measures could be overturned within as little as two years. The bill is unlikely to pass this year and may instead be put back on the agenda in 2027.
JPMorgan Adds Bitcoin to Long-Term Return Forecasts for the First Time, with Return Potential That Could Surpass Gold and Bonds
Odaily reports: JPMorgan Asset Management has for the first time incorporated Bitcoin into its long-term capital market assumptions, projecting an annualized return of approximately 10% for Bitcoin over the next decade, with the potential to outperform stocks, bonds, and gold. However, the forecast also assumes an annualized volatility of 55% for Bitcoin, more than three times that of U.S. large-cap stocks.JPMorgan believes that gradually improving regulatory frameworks and continued enhancements in market liquidity and price discovery mechanisms could further drive Bitcoin's acceptance in traditional financial markets. Looking ahead to the next decade, technological innovation in areas such as artificial intelligence, robotics, healthcare, and space, along with approximately $15 trillion in global capital expenditure growth, are also expected to drive economic growth and asset returns.Analysts noted that the correlation between Bitcoin and other assets is unstable, making it currently unsuitable as a diversification asset in balanced portfolios. As a result, the firm has not yet included it in its main portfolio models. If Bitcoin's volatility continues to decline and its correlation with other assets stabilizes in the future, its value for portfolio allocation could increase. (Bloomberg)
JPMorgan CEO: U.S. Economy Shows Robust Performance but Faces Inflation, Deficit, and Geopolitical Risks
JPMorgan CEO Jamie Dimon stated that the US economy is currently in good shape overall, supported by solid corporate earnings, a resilient labor market, and relatively manageable debt levels for both businesses and households. However, short-term economic resilience does not mean risks have been eliminated. Dimon warned that the US economy still faces three major threats: sticky inflation continuing to suppress purchasing power and constrain monetary policy flexibility; massive government fiscal deficits pushing up interest obligations and financing costs; and potential cascading impacts from overseas geopolitical conflicts. He noted that an economic downturn is inevitable, but the exact triggers and timing of the next recession are difficult to predict precisely, necessitating prudent preparation for the potential shockwaves from compounding unforeseen events.
Expands to Ethereum Mainnet: JPMorgan's JPM Coin USD Deposit Token Now Open to Institutional Clients
Odaily Report: JPMorgan is expanding its JPM Coin USD deposit token to the Ethereum mainnet, offering it to institutional clients. The token was previously launched on Base in 2025 and represents actual bank deposits, enabling near-instant peer-to-peer transfers and settlements around the clock. It is currently available only to JPMorgan institutional clients through Kinexys, does not support public trading, and is not open to retail customers. JPM Coin is a permissioned, regulatory-compliant bank money and is not a decentralized stablecoin.
US Comptroller of the Currency: Nine large banks including JPMorgan Chase found to have previously implemented "debanking" policies
According to Bloomberg, a recent report by the Office of the Comptroller of the Currency (OCC) indicates that between 2020 and September 2025, nine major banks—JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, U.S. Bank, Capital One Financial, PNC Financial, Toronto-Dominion Bank, and Bank of Montreal—restricted certain customers from using banking services or required them to undergo more rigorous vetting and approval processes through related policies, a practice known as "debanking." On Wednesday, the Consumer Financial Protection Bureau (CFPB) also stated that it would thoroughly investigate whether the banks named in the report complied with federal consumer financial laws and take appropriate action accordingly.
JPMorgan: Regulatory measures can partially offset the impact of the stalled Clarity Act, but political and legal risks remain.
According to The Block, JPMorgan analysts including Nikolaos Panigirtzoglou stated in Wednesday's report that recent actions by U.S. regulators are partially offsetting the adverse impact of the Senate's failure to advance the Clarity Act, but until a crypto market structure bill is enacted, the political and legal risk premium will persist. Analysts note that regulator-driven measures could encourage institutional participation in the short term, but only legislation can ensure a more durable regulatory framework. If the Democratic Party wins the White House, existing regulatory measures could be overturned within as little as two years. The bill is unlikely to pass this year and may instead be put back on the agenda in 2027.
JPMorgan Adds Bitcoin to Long-Term Return Forecasts for the First Time, with Return Potential That Could Surpass Gold and Bonds
Odaily reports: JPMorgan Asset Management has for the first time incorporated Bitcoin into its long-term capital market assumptions, projecting an annualized return of approximately 10% for Bitcoin over the next decade, with the potential to outperform stocks, bonds, and gold. However, the forecast also assumes an annualized volatility of 55% for Bitcoin, more than three times that of U.S. large-cap stocks.JPMorgan believes that gradually improving regulatory frameworks and continued enhancements in market liquidity and price discovery mechanisms could further drive Bitcoin's acceptance in traditional financial markets. Looking ahead to the next decade, technological innovation in areas such as artificial intelligence, robotics, healthcare, and space, along with approximately $15 trillion in global capital expenditure growth, are also expected to drive economic growth and asset returns.Analysts noted that the correlation between Bitcoin and other assets is unstable, making it currently unsuitable as a diversification asset in balanced portfolios. As a result, the firm has not yet included it in its main portfolio models. If Bitcoin's volatility continues to decline and its correlation with other assets stabilizes in the future, its value for portfolio allocation could increase. (Bloomberg)
Darkfost Reviews JPMorgan CEO's Shifting Stance on Bitcoin: From "Fraud" to Recognizing the Right to Buy
Odaily reports: Crypto analyst Darkfost published a post on X outlining the evolution of JPMorgan CEO Jamie Dimon's attitude toward Bitcoin in recent years.In 2017, Dimon called Bitcoin a "fraud"; in 2018, he expressed regret over those remarks and acknowledged the value of blockchain technology; from 2019 to 2020, he said Bitcoin "doesn't appeal to him"; in 2021, he called it "worthless"; in 2023, he said that if he had the power, he would ban Bitcoin and other cryptocurrencies; and in 2024, he likened Bitcoin to "pet rocks" and a Ponzi scheme.In 2025, Dimon still criticized Bitcoin for lacking value and being used for money laundering, but later stated that everyone has the right to buy Bitcoin. Now, JPMorgan in its 2027 outlook has listed Bitcoin as the asset with the best long-term return performance.Previously reported, JPMorgan Asset Management released its "2027 Long-Term Capital Market Assumptions" report on October 19, including Bitcoin in its long-term return projections for the first time and forecasting a compound annual growth rate of 10% over the next 10 to 15 years, higher than the 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts (REITs).
JPMorgan: Retail Investors Sell Off Tech ETFs, Buy Individual Semiconductor Stocks Against the Trend
JPMorgan notes that retail investors have lost confidence in tech ETFs, but their buying of individual semiconductor stocks runs counter to institutional positioning, with semiconductor crowding at the 96.1th percentile. Over the next seven days of earnings season, 62 S&P 500 companies will report results, accounting for 14% of market capitalization, concentrated in the financial and industrial sectors.
JPMorgan: Retail funds return to tech, tech ETF inflow percentile rises to 73%
According to fund flow research, JPMorgan’s October 7, 2026 research report indicates that retail net inflows reached $5.7 billion in a single week, below the 12-month average of $6.7 billion. The percentile rank for tech sector ETF inflows rose from 4% four weeks ago to 73%. The top five purchased stocks were NVIDIA ($834 million), Google ($265 million), SNDK ($150 million), MU ($135 million), and STX ($129 million). Consensus earnings growth expectations for the Q3 earnings season stand at 31%, or 27% excluding energy. JPMorgan notes that retail investors are net buying across the entire technology sector, with semiconductors, hardware, and software all gaining favor; software has also returned to focus. Whether this rotation can continue will depend on validation during the Q3 earnings season. Large banks, having underperformed recently, present pre-earnings rebound opportunities amid improving net interest income expectations. On the Brazil front, after EWZ surged 13% on Monday, retail investors took profits. JPMorgan strategists project the index could appreciate another 20% in the short term.
JPMorgan: Corporate financing surplus nears 2% of GDP, share buybacks support US stocks
According to Chaohang Research, JPMorgan’s September 24, 2026 research report indicates that U.S. corporate financing surplus in Q2 2026 approached 2% of GDP, marking the highest level for non-crisis periods since data tracking began in 1952. Non-financial corporate surplus stood at approximately 1.5%, the highest for non-crisis periods since 1958. Global equity buybacks are projected to reach $1.7 trillion in 2026, with U.S. corporations accounting for $1.3 trillion. Bitcoin’s production cost is approximately $85,000; after trading below this threshold for 280 consecutive days, the price has finally broken through. Network hash rate and mining difficulty have decreased by roughly 19% and 15%, respectively, from their peaks last October. JPMorgan notes that cash flow growth outpaces capital expenditures, indicating that the corporate sector as a whole does not require additional financing. This financing surplus underpins share repurchases, particularly among firms outside the technology sector. AI-driven capital expenditures are crowding out other spending, keeping overall capex growth moderate, and the exuberance of the late 1990s has yet to return. Bitcoin miners are structurally shifting toward AI operations, lowering forced selling risks, though hash rate expansion has decelerated. Bond futures momentum indicators have moved into more extreme bearish zones, with standard deviation scores for the 10-year U.S. Treasury and German Bunds reverting to -1.7 and -1.5, respectively.
The on-chain tokenized asset market is expected to reach $4 trillion by the end of 2028, while Standard Chartered projects Chainlink will hit $200 by the end of 2030
Odaily News: Standard Chartered initiated coverage on Monday of blockchain oracle project Chainlink, projecting LINK to reach $200 by the end of 2030 — roughly 25 times its current price of around $8. The bank's phased targets are $13 by the end of this year, followed by $41, $82, and $133. Standard Chartered estimates that the on-chain tokenized asset market will reach $4 trillion by the end of 2028, with DeFi-deployed assets hitting $2.7 trillion by 2030 — a 37-fold increase from current levels. The bank expects Chainlink fees to grow approximately 25-fold over the same period, assuming token prices track fee growth. Chainlink secures over $110 billion in total value, covering approximately 70% of the value that global DeFi relies on from oracles, with a share exceeding 80% on Ethereum; Aave V3 accounts for 44% of that. Swift, DTCC, Euroclear, JPMorgan, Mastercard, UBS, Fidelity, and S&P Global are all listed as institutions using its services. Chainlink still lags behind LayerZero in cross-chain interoperability. Following the $292 million attack in April, over $7 billion in token value has migrated to Chainlink CCIP, with second-quarter transaction volume reaching $4.9 billion — up 353% year-over-year. Risks include slowing institutional tokenization, pilots not converting to production processes, and technical failures impacting confidence. (Decrypt)
Bank of America CEO joins ranks of banking leaders warning about 'Mythos' AI risk
Bank of America CEO Brian Moynihan has joined a group of Wall Street leaders in expressing serious concerns about artificial intelligence models such as "Mythos" developed by Anthropic. "This marks a significant shift in workload, as well as the speed at which these tools can impact system vulnerabilities, and how quickly we must respond," Moynihan stated. In recent months, the rapid evolution of AI models has prompted the financial industry and the U.S. government to begin assessing potential threats.Anthropic claims that the Mythos model, launched earlier this year, has demonstrated excellent performance in identifying system vulnerabilities. Bank of America is among the Wall Street institutions authorized to use Mythos, employing the model to test its own systems and share information with peers. Currently, the model has not been made available to the public; JPMorgan Chase CEO Jamie Dimon warned earlier this week that broadly opening the system to the public would be as dangerous as "giving a ballistic missile to an individual." (Bloomberg)
JPMorgan: Frequent DeFi hacks and stagnant TVL continue to suppress institutional participation
According to The Block, JPMorgan analysts noted in their latest report that ongoing DeFi security vulnerabilities and stagnant growth in total value locked (TVL) continue to constrain institutional enthusiasm for the DeFi sector. Recently, Kelp DAO’s cross-chain bridge suffered a major attack, during which the attacker minted $292 million worth of uncollateralized rsETH tokens and borrowed real ETH on Aave, resulting in approximately $230 million in bad debt. This caused DeFi TVL to evaporate by roughly $20 billion within several days. LayerZero and blockchain security researchers have attributed this attack to the North Korean hacker group Lazarus Group; some of the stolen funds have been frozen, while the rest remain in circulation. Analysts also pointed out that DeFi TVL denominated in ETH has remained range-bound for an extended period, raising market concerns about whether DeFi can achieve organic growth sufficient to support institutional adoption. Furthermore, following each security incident, users tend to shift funds into USDT as a safe-haven asset—yet this trend has not yet significantly driven USDT’s market capitalization growth.
Wall Street banks like JPMorgan tighten restrictions on AI agent trading permissions
Odaily reports: Major U.S. banks including JPMorgan, Bank of America, and Citigroup are tightening restrictions on third-party AI agents' access to customer accounts and their ability to execute transactions. Citigroup prohibits unauthorized third-party agents from logging in or trading directly through digital platforms, but allows some approved connections with read-only access to account information.JPMorgan CEO Jamie Dimon said during the October 13 earnings call that external agents should not be allowed unrestricted access to bank systems; Bank of America CEO Brian Moynihan emphasized that payments must be authorized by humans. Wells Fargo's updated access agreement is scheduled to take effect on November 24, distinguishing between viewing financial information and executing transactions. (Bitcoin.com News)
JPMorgan: ServiceNow Momentum Intact Ahead of Earnings, AI Monetization Expected Until 2027
JPMorgan assesses that contract renewals and expansion, along with AI product version upgrades, support a Q3 beat, but as AI monetization is more likely to occur in 2027, further re-rating will require evidence of stable organic cRPO growth. Maintains Overweight with a $150 price target, implying 3.2% upside from current levels.
JPMorgan Asset Management Launches Tokenized Money Market Fund on Solana
According to PR Newswire, J.P. Morgan Asset Management announced on October 22 that its tokenized money market funds MONY and JLTXX are now live on the Solana blockchain and available to eligible U.S. investors. Eligible investors can subscribe and redeem through its institutional trading platform, Morgan Money, and receive their token balances at their own blockchain addresses. MONY is a private fund established under Rule 506(c), launched in December 2025. At that time, J.P. Morgan became the first global systemically important bank to launch a tokenized money market fund on a public blockchain. JLTXX is a U.S.-registered government money market fund, with an investment approach designed to support stablecoin issuers under the framework of the GENIUS Act.
Darkfost Reviews JPMorgan CEO's Shifting Stance on Bitcoin: From "Fraud" to Recognizing the Right to Buy
Odaily reports: Crypto analyst Darkfost published a post on X outlining the evolution of JPMorgan CEO Jamie Dimon's attitude toward Bitcoin in recent years.In 2017, Dimon called Bitcoin a "fraud"; in 2018, he expressed regret over those remarks and acknowledged the value of blockchain technology; from 2019 to 2020, he said Bitcoin "doesn't appeal to him"; in 2021, he called it "worthless"; in 2023, he said that if he had the power, he would ban Bitcoin and other cryptocurrencies; and in 2024, he likened Bitcoin to "pet rocks" and a Ponzi scheme.In 2025, Dimon still criticized Bitcoin for lacking value and being used for money laundering, but later stated that everyone has the right to buy Bitcoin. Now, JPMorgan in its 2027 outlook has listed Bitcoin as the asset with the best long-term return performance.Previously reported, JPMorgan Asset Management released its "2027 Long-Term Capital Market Assumptions" report on October 19, including Bitcoin in its long-term return projections for the first time and forecasting a compound annual growth rate of 10% over the next 10 to 15 years, higher than the 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts (REITs).
JPMorgan Chase's 2027 Long-Term Capital Market Assumptions include Bitcoin for the first time, with an expected compound annualized return of 10% and volatility of 55%.
Bitwise Chief Investment Officer Matt Hougan (@Matt_Hougan) shared a chart on X featuring J.P. Morgan Asset Management’s 2027 Long-Term Capital Market Assumptions (31st edition), which has now included Bitcoin in its asset class forecasts. According to the report, Bitcoin’s expected compounded return is 10.0%, its arithmetic mean return is 20.9%, and its annualized volatility is 55.0%. Comparative data for other assets are as follows: • US large-cap stocks: compounded return 7.5%, volatility 18.0% • US small-cap stocks: compounded return 7.7%, volatility 21.0% • Gold: compounded return 5.5%, volatility 17.2% • US aggregate bonds: compounded return 5.6%, volatility 4.7% • US cash: compounded return 3.2%, volatility 0.7% • US real estate investment trusts (REITs): compounded return 8.2%, volatility 17.3% Based on arithmetic mean returns, Bitcoin (20.9%) ranks highest among the assets listed in the report, followed by US small-cap stocks (9.66%) and US REITs (9.55%). By compounded return, Bitcoin (10.0%) also tops all other assets in the table.
JPMorgan Launches JPM Coin on Ethereum for Institutional Clients
According to Bloomberg, JPMorgan Chase announced the launch of a deposit token (JPM Coin) representing its US dollar deposits for institutional clients on the Ethereum network, further expanding its blockchain payments business. Initially launched last year on the Coinbase-affiliated blockchain network Base, the token enables institutional clients to bypass the constraints of traditional business days and multi-day settlement cycles, facilitating round-the-clock, second-level fund transfers.
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Brazilian Market Plunge Draws Bargain Hunters? Wall Street Split on Direction
Odaily reports: Brazilian President Lula's re-election result caught investors off guard. Brazilian markets suffered a sharp selloff at one point, with the real falling about 8% against the US dollar, the largest single-day drop in more than 20 years. However, after the market plunge, Wall Street institutions have diverged in their attitudes toward Brazilian assets: Citigroup closed out bullish positions, Morgan Stanley downgraded Brazilian equities, and JPMorgan also cut its allocation recommendation for the real and local-currency rates; but Wells Fargo believes the market reaction was overdone and recommends buying the real on dips, while GQG Partners is also preparing to buy after the market panic.Some investors believe the pullback in Brazilian asset prices has created investment opportunities, but fiscal risks are still weighing on the market, and investors are waiting for the Lula government to announce its economic team and fiscal plan to judge whether it can push forward fiscal adjustment. Although the real rebounded for two consecutive trading days after the plunge, Brazilian equities continued to fall, and the market has not yet formed a clear reversal signal. (Bloomberg)
JPMorgan: October Token spending up 40% month over month, GPU leasing and storage prices diverge
According to Trend Research, JPMorgan's report dated October 26, 2026, indicates that large language model token spending grew 40% month-over-month in October, up from 28% in September; token usage increased 25% month-over-month, with weighted prices rising 12%; A100 rental prices fell 3.5% month-over-month, while H100 and B200 prices rose 6.5% and 4.7%, respectively; DRAM spot prices increased 4.4% month-over-month, and NAND prices declined 2.6%.
JPMorgan, Citi, and PNC Use Coinbase Infrastructure to Offer Crypto Services
Bitcoin News posted on X platform stating that Brett Tejpaul, Co-CEO of Coinbase Institutional, said major U.S. banks are increasingly relying on Coinbase to provide digital asset services infrastructure. PNC private banking clients can directly buy, sell, and hold Bitcoin through its platform; JPMorgan is integrating Chase accounts, bank cards, and rewards with Coinbase, but will not offer Bitcoin trading within the bank app; Citi has partnered with Coinbase to provide stablecoin payment services for enterprises.
JPMorgan: iPhone Duo delivery cycle reaches 94 days, Pro series demand remains resilient.
JPMorgan estimates that the extended delivery cycle for the Duo reflects robust demand, while supply bottlenecks are a short-term issue. Following price increases, delivery cycles for the Pro series have returned to last year’s levels, with demand remaining resilient. The firm maintains an Overweight rating on Apple, with a current stock price of $347.73. The Duo supply bottleneck and post-increase demand performance of the Pro series will affect Apple's short-term revenue pacing.
JPMorgan: AI Shopping Agents Roll Out, Payments Still Run on Card Networks
JPMorgan assesses that AI shopping agent workflows more closely mirror traditional e-commerce, with limited short-term impact on payment stocks. Payment networks are benefiting from card transactions, while the moats of trust and lending around online checkout remain intact, and the operating environment for traditional acquirers is improving. Regarding ratings, Affirm, Chime, Marqeta, Remitly, and Toast are upgraded to Overweight; PayPal and Klarna are maintained at Neutral; and Western Union is downgraded to Underweight.
JPMorgan: Tesla Optimus Mass Production Guidance of 10,000 to 20,000 Units; Supply Chain Preference Favors Components
JPMorgan estimates that as mass production ramp-up proceeds gradually, robot hands remain the primary hardware bottleneck, and supply chain opportunities are shifting from complete systems to components. The firm recommends overweight positions in Hengli Hydraulic and Sanhua Intelligent Controls, as well as Green Harmonic and Orbbec; maintains a neutral stance on Inovance Technology and UBTECH Robotics; and assigns an underweight rating to Estun Automation and Unitree Robotics.