Category: Top Stories

Datavault AI Inc. (NASDAQ:DVLT) saw its shares surge in premarket trading on Monday after announcing a landmark partnership with Max International AG.

Bridging Blockchain and Institutional Finance

The collaboration will establish a Switzerland-based exchange for tokenized real-world assets, marking a major step in the company’s mission to bridge blockchain technology with institutional finance.

The deal highlights growing investor optimism around compliant, AI-driven digital asset platforms. The partnership aims to accelerate institutional adoption of real-world assets (RWAs) by resolving key barriers such as regulatory complexity, scalability, and fiduciary trust.

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It also underpins Datavault AI’s International Elements Exchange, focused on tokenizing commodities like unmined gold and copper, and the International NIL Exchange, which monetizes name, image, and likeness rights.

Switzerland as Operational Hub

Zurich, known for its dominance in global gold refining and financial infrastructure, will serve as the operational center of the exchange.

Switzerland’s progressive digital asset regulations and Datavault AI’s international patent portfolio, spanning data tokenization, digital twins, and automated compliance, will enable transparent, scalable trading within a regulated ecosystem.

Datavault AI’s proprietary DataValue and DataScore systems are designed to enhance liquidity and improve valuation accuracy for illiquid assets.

Max International AG’s Swiss domicile provides regulated oversight and fiduciary governance, ensuring institutional-grade compliance for global participants.

CEO Highlights Growing Market Demand

Nathaniel Bradley, CEO of Datavault AI, added, “We have been approached by large corporations and governments to address growing demand for blockchain-driven solutions to RWA and NIL monetization—making the complex consumable and giving way to a simple tokenized, automated, fail-proof compliant scale.”

With tokenized assets projected to surpass $1 trillion by 2030, the Swiss partnership reinforces Datavault AI’s strategy to build compliant infrastructure for digital asset trading.

The venture follows Datavault AI’s acquisition of NYIAX, a deal that aimed to fuse AI and blockchain to strengthen asset monetization frameworks. Together, these initiatives position Datavault AI as a frontrunner in the regulated tokenization of real-world assets.

Price Action: DVLT shares were trading higher by 15.08% to $2.06 premarket at last check Monday.

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Goldman Sachs urged investors to focus on Chinese companies expanding overseas, citing a weaker yuan, cost advantages, and China’s strength in global supply chains as growth catalysts.

In a report led by analysts Si Fu and Kinger Lau, Goldman identified 25 top picks, including Alibaba Group Holding Ltd (NYSE:BABA), Contemporary Amperex Technology Co Ltd (CATL), and BYD Co Ltd (OTC:BYDDY) (OTC:BYDDF), as key beneficiaries of this “going global” trend.

Goldman said these companies — spanning e-commerce, capital goods, and healthcare — have already gained nearly 40% year-to-date, outperforming the Hang Seng Index’s 29% and the CSI 300 Index’s 16% rise, SCMP reported on Monday.

Also Read: Alibaba Stock Surges 95% As Company Doubles Down On AI, Cloud

Overseas Expansion to Boost Earnings Growth

The bank expects its overseas expansion to accelerate earnings growth by about 1.5% annually through 2028 as firms diversify beyond China’s saturated domestic market.

Goldman highlighted Alibaba’s overseas revenue doubling to 13% in 2023 from 7% in 2021 and CATL’s climbing to 30% from 21%, reflecting their rising global competitiveness.

While Goldman acknowledged that potential 100% U.S. tariffs under Trump’s trade agenda could trim short-term profits by around 10%, it said Chinese firms’ international diversification should offset the impact over time.

Alibaba Stock Soars on AI and Cloud Momentum

Alibaba is considered the tech barometer of China. The stock gained 97% year-to-date, topping NYSE Composite index’s over 12% returns as its cloud unit and AI model integration across its business segments and other enterprises fuel upside for the stock.

Goldman Sachs, Daiwa Securities, and China International Capital Corporation (CICC) expressed optimism over Alibaba’s cloud growth, AI breakthroughs, and early e-commerce recovery as key catalysts behind its rally.

Goldman Sachs raised its cloud revenue growth forecasts to 31–38% through fiscal 2028, citing advances in multimodal AI models and a diversified chip supply.

Daiwa Securities projected Alibaba Cloud revenue to climb 30% year-over-year in the second quarter of fiscal 2026 and expects operating losses to peak soon before narrowing on lower marketing and logistics costs.

CICC forecast 3.8% revenue growth for the same quarter and 30% cloud growth, saying new AI products and hardware unveiled at Alibaba’s Apsara Conference will support sustained profit gains.

Price Action: BABA stock was trading lower by 0.62% to $166.02 premarket at last check Monday.

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Microsoft Corporation (NASDAQ:MSFT) is seeing renewed momentum in its crucial cloud business, primarily fueled by robust demand for security services within Azure.

This strength comes as the tech giant prepares for its fiscal first-quarter 2026 earnings release on October 29, 2025, and points toward a future requiring significantly higher capital expenditure.

Upbeat Forecasts Ahead of Earnings

Reflecting this optimism, Bank of America Securities analyst Brad Sills maintained a Buy rating on Microsoft, accompanied by a price forecast of $640.

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Channel partners report a consistent pace of deal activity and increasing enterprise investment in AI and data infrastructure, signaling enduring corporate confidence in Microsoft’s central role in technology roadmaps, Sills noted.

The analyst said most partners reported results that were inline or better, supporting his expectation for up to 1% upside to the $77 billion revenue estimate — up 18.2% year-over-year (16.2% in constant currency or cc).

He expects Azure growth of 39% (38% cc) versus a base case of 38% (37% cc), noting that while Azure’s performance was broadly inline, security strength offset some softness in workloads affected by capacity constraints and customers taking more time to build long-term AI roadmaps.

Sills views both factors as positive for Microsoft’s deeper enterprise integration.

The analyst projects Productivity and Business Processes (PBP) growth of 22.7% (21.7% cc) versus a 22.2% (21.2% cc) base case, driven by steady momentum in E3/E5 commercial Office licenses.

AI Infrastructure and Capex Outlook

He said Microsoft continues to take a strategic, measured approach to expanding AI infrastructure while balancing scale and energy independence.

Sills cited growing visibility into compute investments, including Microsoft’s role in the Aligned Data Centers acquisition with BlackRock, Inc. (NYSE:BLK) and Nvidia Corporation (NASDAQ:NVDA), as evidence of durable demand despite Azure’s current capacity limits.

The analyst expects upward revisions to fiscal 2026 capex forecasts from consensus at $115 billion (36% of revenue) to around $125 billion (38% of revenue).

Despite the stock lagging since fourth-quarter results (down 4% versus Nasdaq +6%), he views potential capex revisions as a key catalyst.

Sills also flagged two additional drivers including potential margin expansion through fiscal 2026 and accelerating commercial Office growth, expected to rise from 14% due to continued E3/E5 and Copilot adoption.

The analyst called Microsoft a top pick and an AI leader across both applications and infrastructure. Channel partners echoed his view, citing strong Azure, AI, and security momentum.

Sills projected fiscal 2026 sales of $322.1 billion and EPS of $15.24. He expects first-quarter sales of $77.5 billion and EPS of $3.64.

MSFT Price Action: MSFT stock was trading higher by 0.66% to $516.97 at last check Monday.

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French luxury group Kering SA (OTC:PPRUF) (OTC:PPRUY)  on Sunday disclosed a long-term partnership with L’Oréal (OTC:LRLCF) in the luxury beauty and wellness segment.

As per the agreement, the Gucci-owner will sell its Kering Beauté business to L’Oréal for 4 billion euros ($4.66 billion) in cash.

L’Oréal will acquire the iconic high-end luxury fragrance brand, House of Creed, and gain exclusive beauty and fragrance licenses for several Kering brands.

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Under L’Oréal Luxe, Creed will expand its global reach in both men’s and women’s luxury fragrance markets.

The transaction is expected to close in the first half of 2026, with L’Oréal paying royalties to Kering for its licensed brands.

50-Year Exclusive Brand Licenses

The partnership grants L’Oréal exclusive 50-year licenses to create, develop, and distribute fragrance and beauty products for Gucci, Bottega Veneta, and Balenciaga.

The Gucci license will begin after the current Coty agreement ends, while the Bottega Veneta and Balenciaga licenses will take effect upon the transaction’s closing.

Joint Venture in Luxury Wellness and Longevity

Beyond beauty, Kering and L’Oréal also plan to form a 50/50 joint venture to explore opportunities in luxury, wellness, and longevity.

The partnership will combine L’Oréal’s innovation expertise with Kering’s luxury market insight to create advanced experiences and services for high-end consumers.

Management Commentary

Luca de Meo, CEO of Kering, said, “Joining forces with the global leader in beauty, we will accelerate the development of fragrance and cosmetics for our major Houses, allowing them to achieve scale in this category and unlock their immense long-term potential, as did Yves Saint Laurent Beauté under L’Oréal’s stewardship.”

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Snowflake Inc (NYSE:SNOW) is gaining momentum as it sharpens its go-to-market strategy and scales its cloud platform to meet soaring enterprise demand for artificial intelligence solutions, driving stronger deal flow and deeper integration across industries.

• SNOW is building positive momentum. Find out why here.

The company continues to expand its AI Data Cloud, with half of new customers using Snowflake for AI workloads and 25% engaging its AI capabilities weekly.

It is a sign that its innovation engine and partnerships, are fueling long-term growth in the fast-evolving data infrastructure market.

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Analyst Take

Wedbush analyst Daniel Ives maintained Snowflake with an Outperform rating and raised the price forecast from $250 to $270.

Ives cited accelerating momentum as the company fine-tunes its go-to-market strategy and scales its platform through stronger engineering, innovation, and marketing execution.

The analyst said Snowflake still has significant room to expand as it integrates simplicity and scalability across its data cloud, positioning itself to capture a larger share of the AI market opportunity.

He emphasized that Snowflake remains in the early stages of monetizing AI demand, with a growing share of its customer base leveraging the platform for advanced AI use cases.

Ives commented that half of new customers now use Snowflake for AI-related workloads, while approximately 25% of existing organizations rely on Snowflake’s AI capabilities on a weekly basis.

Snowflake continues to enhance its Cortex platform, focusing on improving retrieval quality and unifying data early in the lifecycle to optimize workflows and drive efficiency, the analyst told.

AI

Despite facing intense competition in a multi-trillion-dollar AI and data infrastructure market, he believes Snowflake’s “innovation engine” remains a major differentiator.

Ives highlighted that enterprises are increasingly adopting Snowflake’s easy-to-use AI products to streamline operations, boost productivity, and consolidate data workflows across cloud environments.

The analyst said Snowflake is still in the early innings of modernizing data infrastructure for the generative AI era, with large enterprises across sectors turning to the platform for data preparation, analytics, and storage.

The company continues to expand its data engine by combining analytical and transactional capabilities and allowing users to act on larger datasets that historically existed outside Snowflake’s environment, he said.

Ives noted that Snowflake’s AI Data Cloud has evolved into a connected ecosystem of shared data applications, with thousands of customers securely collaborating via the Snowflake Marketplace.

This ecosystem supports enterprise-grade performance and cross-industry data sharing, the analyst noted.

Palantir Partnership

Ives also pointed to Snowflake’s strategic partnership with Palantir Technologies Inc (NYSE:PLTR) as a growth catalyst.

The integration of Snowflake’s Data Cloud with Palantir’s Foundry and AIP platforms enables faster analytics, stronger data pipelines, and more trusted AI-driven applications for commercial and federal clients,as per Ives.

The analyst called Snowflake a “second-derivative winner” of the AI boom and one of Wedbush’s top picks in its AI 30 list, expecting it to capitalize on growing AI adoption over the next 12 to 18 months.

Ives projected third-quarter revenue of $1.18 billion and EPS of $0.35. He projected fiscal 2026 revenue of $4.61 billion and EPS of $1.30.

SNOW Price Action: Snowflake shares were up 1.20% at $243.64 at the time of publication on Monday. The stock is approaching its 52-week high of $255.39, according to Benzinga Pro data.

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Australia is pitching itself as a solution to the U.S. critical metal problems. The West has struggled to break China’s grip on the 50-odd “critical minerals” that are vital for electronics, renewables, defense systems, and more. However, Monday’s meeting between Australian Prime Minister Anthony Albanese and President Donald Trump might bring the two nations closer to bridging this commodities gap.

Treasury Secretary Scott Bessent warned that China’s export restrictions signal “China versus the world,” according to the Financial Times. Bessent told Bloomberg that U.S. officials are in discussions with European allies, Australia, Canada, India, and other Asian democracies to coordinate a response.

From Australia’s side the pitch is clear. The country offers massive deposits of lithium, rare earths and other strategic elements, coupled with a globally competitive mining sector and mining-engineering expertise.

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“Australia equals the periodic table. Having it is one thing — knowing how to mine it … is another — and we have the world’s biggest and best miners,” Australia’s Ambassador to the U.S., Kevin Rudd, said per Bloomberg.

Rudd noted that the U.S. currently has a deficiency in many of the 50 designated critical minerals. With proper investment and offtake agreements, Australia “can meet 30 to 40 of those without much additional effort, most particularly in terms of processed rare earths.”

According to The Guardian, Australia is offering the U.S. access to a proposed 1.2 billion Australian dollars ($780 million) critical minerals reserve as a signaling mechanism of trusted supply. Terms of such a deal are still uncertain, but even equity stakes are not out of the question. The U.S. government is increasingly willing to take equity stakes in strategic supply-chain companies. State-capitalism has re-entered mining sector, and Washington is not just a buyer — it may become a co-owner and strategic partner.

Yet, Australia has its conditions. It needs U.S. investment, technology transfer, downstream refining capacity, offtake guarantees and security assurances—especially under the broader security umbrella of the AUKUS pact. Australia also wants to ensure that its resource diplomacy does not force it into a direct confrontation with China, its largest trading partner.

These risks are exactly what former Prime Minister Paul Keating warned nearly four decades ago. The danger of Australia relying on digging rocks and letting advanced manufacturing slip away.

“We took the view in the 1970s – it’s the old cargo-cult mentality, ‘we’ll just dig up another mound of rock and someone will buy it from us. If Australia is so undisciplined that it doesn’t deal with these fundamental problems … Then you are gone. You are a banana republic,” he said.

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Nvidia Corp‘s (NASDAQ:NVDA) exit from China has been framed as a policy-driven blow, but AI-focused investors may view it as a chance for the company to double down on high-margin opportunities elsewhere.

Last week, CEO Jensen Huang noted the company went from 95% market share in China to zero — a huge market loss on paper. Nvidia’s financial forecasts no longer assume any revenue from China, he added.

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Yet the real story lies in where Nvidia is channeling its resources now: into AI data centers, enterprise GPUs, and cloud partnerships that are driving unprecedented demand.

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Shifting Focus From Volume To Profitability

China represented scale, but not necessarily the high-margin growth that powers Nvidia’s AI leadership. Freed from the geopolitical and compliance challenges of the Chinese market, Nvidia can now focus on premium AI chips, enterprise deployments, and U.S.-friendly cloud partnerships.

Investors should see this as a reallocation of capital from politically constrained volume to sectors where Nvidia can capture pricing power and strong margins, a subtle but meaningful shift in strategy.

Supply Chains That Align With AI Growth

The China exit also forces Nvidia to realign its supply chains and production priorities. By focusing on countries and partners aligned with Western technology policies, Nvidia reduces regulatory risk and ensures faster deployment of AI-focused GPUs to hyperscale cloud providers — the very engines of AI revenue growth.

In other words, what looks like a market loss is actually an operational pivot toward the fastest-growing and most profitable segments of the AI market.

The Investor Takeaway

Nvidia’s zero exposure to China is headline-grabbing, but the real implication is about strategic prioritization. By trading geographic scale for profit-focused AI growth, Nvidia is betting on sectors with stronger pricing power, less political risk, and higher margins.

For investors, the lesson is clear: sometimes policy costs aren’t a loss — they’re a forced lens that sharpens focus on where the money actually is in AI.

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Fresh fears of mounting credit stress in the U.S. banking system have resurfaced after JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon issued a stark warning that more financial trouble could be lurking below the surface.

“When you see one cockroach, there are probably more,” Dimon said during last week’s earnings call, referring to the recent bankruptcies of First Brands—an auto parts maker reportedly under criminal investigation—and Tricolor Holdings, a subprime auto lender.

On Wednesday, just a day after Dimon’s warning, concerns deepened as Zions Bancorporation (NASDAQ:ZION) disclosed a $50 million charge-off tied to two troubled commercial loans from its California Bank & Trust unit.

A day later, Western Alliance Bancorporation (NYSE:WAL) revealed it had filed a fraud lawsuit against a borrower, adding to the sector’s unease.

Now, with regional banks and private equity showing signs of strain, Wall Street is bracing for what could be the next major shock to markets.

Why Treasury Bonds Could Make A Comeback As Liquidity Tightens

While many analysts believe these credit issues remain contained, the broader market may still be vulnerable—not because of credit exposure, but because of liquidity.

Savita Subramanian, head of U.S. equity strategy at Bank of America, says regulated banks today are better capitalized and less likely to spark a full-blown credit crisis.

However, she cautions that the S&P 500’s high concentration in a few large-cap tech names could make it more sensitive to liquidity shocks.

That’s echoed by Michael Hartnett, chief investment strategist at Bank of America. In a recent note, he warned that “Krunchy Kredit” cracks are spreading, pointing to weakness in the SPDR Regional Banking ETF (NYSE:KRE), private credit, and the SPDR Insurance ETF (NYSE:KIE).

He added that if key financial benchmarks drop below critical levels, the Fed could be forced to cut more aggressively.

Hartnett is also turning bullish on bonds, suggesting that zero-coupon U.S. Treasuries could be the best hedge for credit event risk, with long-dated yields expected to fall below 4% amid Fed easing and global policy shifts away from quantitative tightening.

The PIMCO 25+ Year Zero Coupon US Treasury Index ETF (NYSE:ZROZ) and the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) are up 3.5% and 2.5%, respectively, thus far this month.

Analysts Also Flag Russell 2000 Puts

According to Jeff Jacobson, analyst at 22V Research, buying put options on small-cap stocks—tracked by the iShares Russell 2000 ETF (NYSE:IWM)—may be the best hedge if credit stress continues.

IWM has traditionally had a strong correlation with regional banks (KRE) and private credit, both of which are flashing warning signs.

Jacobson highlighted that while IWM outperformed both the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust (NASDAQ:QQQ) between August and mid-October, much of that gain was driven by capital goods, health care, software, tech, and utilities.

At the same time, unprofitable small caps have outperformed their profitable peers—possibly a sign of speculative AI-related flows entering riskier territory.

This divergence, he notes, could leave IWM vulnerable to a snapback if credit fears deepen and speculative excess unwinds.

Bottom Line: How to Protect Your Portfolio

As credit risks resurface—particularly in mid-sized banks and private credit markets—investors should stay on alert.

Key financial benchmarks like KRE ETF, the Financials Select Sector SPDR Fund (NYSE:XLF), and KIE ETF can offer early signals of deeper stress in the system, and watching their movements may help identify mounting pressure in the sector.

Long-duration Treasury bonds are increasingly viewed as potential hedges in the event of a broader liquidity stress, offering both safety and potential upside if yields fall further.

So far, the damage has been limited to a few lenders.

But if Dimon’s “cockroach” metaphor proves accurate, the market may not be fully priced for what’s still hiding in the shadows.

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With the U.S. ETF market headed for a record-setting year of new product launches, fears are growing that the industry is sliding toward speculative excess. Morningstar analyst Daniel Sotiroff thinks leveraged ETFs are right in the middle of it.

In the first nine months of 2025 alone, nearly 800 new ETFs have hit the market, surpassing 2024’s full-year record of 746. The total could top 1,000 before year-end, according to Reuters data, a staggering pace that has prompted even insiders to warn of “an unsustainable level of launches.”

Sotiroff agrees, but with sharper words.

“Most of the ETFs launched this year don’t really serve a legitimate long-term purpose,” he told Benzinga. “I suspect they’ll eventually shut down, though it may take longer than three years for some of them.”

The Speculative Surge

While industry leaders cite growing investor choice and innovation, Sotiroff sees something more troubling behind the wave of leveraged and single-stock ETF filings.

“I don’t think it’s genuine investor demand or a supply gap,” he said. “A lot of these launches are aimed at creating speculative ETFs that attract naïve users. The creators and users are gambling and expecting a huge payoff. What they’re doing is the exact opposite of investing.”

Leveraged ETFs — products designed to multiply daily returns, often by two or three times — have become increasingly aggressive. The recent filing by VolatilityShares to launch 5x leveraged ETFs tracking Bitcoin, Ethereum, Tesla Inc (NASDAQ:TSLA), Strategy Inc (NASDAQ:MSTR), and Solana shocked even veteran analysts.

“That filing was mind-blowing,” Sotiroff said. “About half of the leveraged ETFs launched more than three years ago have shut down, and another 17% of them have lost 98% of their value. The 5x leveraged ETFs are just amplifying those risks.”

A Market Of Extremes

At the end of September, around 1,600 ETFs held less than $50 million in assets, a red flag for survival.

“ETFs with very little AUM are the most vulnerable to shutting down,” Sotiroff noted. “I suspect most of those aren’t going to live very long.”

While speculative enthusiasm remains, the segment’s scale is limited relative to the broader $13 trillion U.S. ETF market.

“Leveraged and derivative-based ETFs are attracting some money,” Sotiroff said, “but they account for a relatively small segment of the net inflows across all ETFs.”

Still, the combination of easy regulatory pathways, copycat product design, and retail speculation is fueling a market dynamic that Sotiroff believes will end badly for many participants. “Leveraged ETFs perform poorly over long periods,” he warned. “Eventually, the leverage works against them, and it becomes almost impossible for them to recover.”

Retail At The Front Lines

Financial advisers, meanwhile, remain wary of small or risky funds, leaving retail investors disproportionately exposed.

“It’s not new for advisors to avoid small ETFs,” Sotiroff said. “Unfortunately, a lot of the leveraged ETFs have largely been aimed at retail investors who don’t know what they’re getting into.”

As leveraged ETF filings continue to multiply, and issuers test the SEC’s appetite for even higher leverage, Sotiroff’s warning cuts through the noise: the ETF market may not be in a bubble yet, but parts of it are starting to look like a casino.

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XBP Global Holdings, Inc. (NASDAQ:XBP) stock jumped over 15% on a new six-year agreement with the New York City Department of Finance but gave back previous gains.

The deal involves enhancing payment processing for parking violation tickets. As per the agreement, XBP will deploy its Lockbox Services platform to modernize the department’s payment operations.

The partnership is expected to bring clear benefits to the residents, offering more payment options, faster processing, and enhanced security across the city’s parking payment system.

The collaboration reflects the company’s commitment to leveraging automation to streamline public-sector financial transactions.

Management Commentary

Lakshmi Narayanan, President – Bills and Payments of XBP Global, added, “our solutions are designed to simplify transactions, strengthen security, and improve the overall customer experience with reduced cycle time for all consumers.”

Recent Earnings

In August, the company reported second-quarter revenue growth of 17.8% to $39.6 million and net loss from continuing operations of $3.4 million, versus a loss of $3.6 million a year ago.

Price Action: XBP shares were trading lower by 3.55% to $0.4919 at last check Monday.

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