Silver Is Pointing Higher Within An Impulse
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CTV News
31 minutes ago
- CTV News
CoreWeave to buy Core Scientific in US$9 billion deal to meet AI power needs
CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about US$9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand. Bitcoin miners' energy-intensive sites and power contracts, built during the crypto boom, have emerged as prime targets for AI companies expanding their computing infrastructure. The deal will help in the immediate elimination of more than $10 billion of cumulative future lease overhead to be paid for existing contractual sites over the next 12 years, CoreWeave said. The offer values Core Scientific at $20.40 per share, representing a premium of around 66 per cent to the stock's closing price before reports of deal talks surfaced in late June. Core Scientific's shares fell 22 per cent in morning trading, while Nvidia backed CoreWeave was last down 4.5 per cent. Core Scientific stockholders will receive 0.1235 newly issued CoreWeave stock for each share they hold. 'This acquisition accelerates our strategy to deploy AI and HPC (high-performance computing) workloads at scale,' said CoreWeave CEO Michael Intrator. The deal is expected to close in the fourth quarter, and the final price will be determined at that time. Pivot gathers pace Bitcoin miners have tapped into the AI boom to diversify beyond cryptocurrency, leasing power and data center space to meet soaring demand from AI workloads. The acquisition is expected to set the bar for bitcoin miners looking to pivot to AI, Bernstein analyst Gautam Chhugani told Reuters, adding that power remains the biggest constraint for AI data center expansion. 'CoreWeave gets full control of Core Scientific's entire 1.3 GW power contracted and future pipeline,' Chhugani said. Founded as an Ethereum-focused crypto miner in 2017, CoreWeave pivoted to AI a few years later. It shuttered its mining business after 'The Merge,' Ethereum's 2022 upgrade, slashed rewards for miners. CoreWeave's revenue has grown at breakneck speed, climbing more than eight-fold last year, according to its IPO prospectus. The deal also marks a turnaround for Core Scientific, which filed for bankruptcy in late 2022 following a sharp drop in bitcoin prices and soaring energy costs. The company emerged from bankruptcy in early 2024 and, like several other bitcoin miners, has looked to lean on the AI boom to power growth. Core Scientific first received an unsolicited, non-binding takeover offer from CoreWeave in June 2024. At the time, the company rejected the offer, saying it was significantly undervalued. The two companies later signed a series of 12-year contracts, including one under which Core Scientific agreed to provide CoreWeave with about 200 MW of infrastructure to power its high-performance computing services. CoreWeave, which provides access to data centers and Nvidia-powered AI chips, has a market value of about $79 billion, according to LSEG data. Goldman Sachs is CoreWeave's adviser, while Moelis and PJT Partners are the financial advisers to Core Scientific. (Reporting by Manya Saini and Pritam Biswas in Bengaluru; Editing by Sriraj Kalluvila)
Globe and Mail
31 minutes ago
- Globe and Mail
Comcast's Network Traffic Increased More Than 75% While Energy Efficiency Nearly Doubled Over Past Five Years
Comcast today announced that it is on the cusp of reaching the company's goal to double its network energy efficiency, well ahead of its 2030 target. This press release features multimedia. View the full release here: 'We've known for a long time that the future of connectivity is more – more gaming, more streaming, more video conferencing, and, in recent years, more AI,' said Elad Nafshi, Executive Vice President and Chief Network Officer at Comcast. 'We're delivering dramatically more data at faster speeds and greater reliability at the highest quality for our customers, all while conserving the amount of energy needed to power our network. With an ambitious roadmap to meet growing demand, I'm proud of our leadership and progress on network energy efficiency.' Comcast reported an 11% reduction in energy used to power the network and business from 2019 to 2024, leveraging leaner and smarter technologies that process more customer traffic with less electricity. At the same time, Comcast's network traffic has grown by 76% from 2019 to 2024, meeting increasing customer demand for data fueled by streaming, gaming, sports, and business. The energy savings combined with network growth have resulted in a 49% reduction in electricity per consumed byte since 2019 – nearing the company's goal to double network energy efficiency by 2030. Comcast decreased the electricity per consumed byte from 18.4 kilowatt-hours (kWh) per terabyte (TB) in 2019 to 9.3 kWh/TB in 2024. The efficiency gains have been achieved through Comcast's ongoing nationwide network transformation to virtualized, cloud-based technologies that deliver faster broadband speeds and greater reliability with less equipment, less space, and less energy per byte. 'Our network is being transformed to enable customers to seamlessly connect to the AI revolution and to leverage it in their day to day,' Nafshi said. 'At the same time, we are building in cutting edge network AI to optimize how we deliver our services with sustainability in mind.' Comcast is embedding AI and machine learning throughout the network to improve diagnostics and make smarter network performance decisions. This includes enhanced monitoring and issue detection using bandwidth-efficient telemetry data as well as improved network maintenance using real-time issue localization plus predictive and self-healing network intelligence – actions that increase efficiency and improve the customer experience. Comcast is also driving improvement through accelerated decommissioning of legacy equipment and enhancement of technical facilities – for example, through temperature set point optimization and improved air flow at datacenters. 'Driving energy efficiency is a natural evolution of how we meet growing customer demand and makes great business sense, especially as we make significant investments into our network and collaborate with suppliers to deploy the latest technologies,' said Ryan Capone, VP of Network Facilities & Energy at Comcast. 'We've now laid the technological groundwork to deliver a fast, efficient, and reliable customer experience, while preparing to leverage AI to further drive efficiency in the future.' About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit for more information. Forward-Looking Statements This communication includes estimates, projections and statements regarding plans and goals that may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. For more information on these statements, please see
Globe and Mail
32 minutes ago
- Globe and Mail
PepsiCo Trades Near 52-Week Low: Should You Buy, Hold or Sell?
PepsiCo Inc. PEP has shown volatile performance in recent months, pressured by persistent top-line softness and ongoing challenges in its North America operations since early 2024. The stock's decline also reflects a more cautious outlook and the subdued tone of its first-quarter fiscal 2025 earnings update. As a result, this Purchase, NY-based leading global food and beverage company hit a new 52-week low of $127.60 on June 26, 2025. Currently trading at $135.38, the stock rebounded 6.1% from its 52-week low. However, it still reflects a significant 25.2% discount from its 52-week high of $180.91. Notably, the PepsiCo stock has declined 11% year to date, underperforming the broader industry 's 8.7% growth and the Consumer Staples sector's 7% rise. In contrast, the S&P 500 has rallied 6.2% in the same period. PEP's performance is notably weaker than that of its competitors, The Coca-Cola Company KO and Monster Beverage MNST, which have gained 14.6% and 20%, respectively, in the year-to-date period. The stock has underperformed Primo Brands Corporation PRMB, which has declined 2.7% in the same period. PEP's YTD Stock Return PepsiCo is trading below its 50 and 200-day moving averages, indicating a bearish outlook and challenges in sustaining the recent performance levels. PepsiCo's Stock Trades Below 50 & 200-Day Moving Averages Challenges Faced by PEP PepsiCo's recent performance reflects deepening investor concerns about the persistent revenue softness and a sluggish start to 2025. The company reported 1.2% organic revenue growth in first-quarter fiscal 2025, 2% adjusted for international calendar shifts, highlighting weak consumer demand, particularly in North America. Price-sensitive shoppers, still feeling the pinch of inflation, are pulling back on discretionary spending, directly impacting PepsiCo's key snack brands like Frito-Lay. Segment-level performance was uneven, exposing internal imbalances. PepsiCo Foods North America (PFNA) posted a 2% year-over-year organic revenue decline and a 7% drop in core operating profit, driven by fixed-cost deleverage and heavy investments. While Quaker Foods saw a modest rebound post-recall, it failed to counter softness at Frito-Lay. On the positive side, Beverages North America delivered improved sales and margins, and international operations grew, albeit at a slower pace. Still, the uneven contributions raise red flags about PepsiCo's ability to drive broad-based, consistent growth, especially as North America remains under strain. Margins also came under pressure. While the gross margin improved slightly, the core operating margin declined as productivity initiatives, like automation and supply-chain efficiencies, have yet to deliver meaningful savings. Input cost inflation, tariff exposure and global supply-chain uncertainties continue to weigh on profitability, particularly in mature markets with weak pricing power. In response to these headwinds, PepsiCo lowered its fiscal 2025 outlook, now guiding for flat core EPS growth (in constant currency), down from a previously expected mid-single-digit increase. Organic revenue growth is also forecast in the low-single-digit range. With limited pricing flexibility and little near-term operating leverage, the company's growth prospects remain challenged. Unless PepsiCo can accelerate cost reductions or reignite brand momentum, the stock may remain under pressure. PepsiCo's Estimate Revision Trend The Zacks Consensus Estimate for PEP's 2025 EPS was unchanged in the last 30 days, while the estimate for 2026 EPS has declined 0.2% in the same period. The downward revision in earnings estimates indicates that analysts have been losing faith in the company's growth potential. The Zacks Consensus Estimate for PEP's 2025 sales suggests year-over-year growth of 0.5% and that for EPS indicates a decline of 3.6%. For 2026, the Zacks Consensus Estimate for PepsiCo's sales and EPS implies 3.2% and 5.3% year-over-year growth, respectively. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) PEP's Discounted Valuation PepsiCo is currently trading at a forward 12-month P/E multiple of 16.75X, exceeding the industry average of 18.66X and the S&P 500's average of 22.75X. At 16.75X P/E, PEP, which is a leading name in the Beverages – Soft Drinks industry, is trading at a valuation much lower than its competitors. Its competitors, such as Coca-Cola, Monster Beverage and Primo Brands, are delivering solid growth and trade at higher multiples. Coca-Cola, Monster Beverage and Primo Brands have forward 12-month P/E ratios of 23.08X, 32X and 18.05X — all significantly higher than PepsiCo. Although PEP's stock valuation is currently lower than that of its industry peers, this gap may not be as advantageous as it appears to be. The lower price can signal underlying issues rather than presenting a straightforward investment opportunity. How Should You Play the PepsiCo Stock? PEP is clearly in a tough spot, facing persistent headwinds with no clear near-term catalysts. The company finds itself in a difficult phase, weighed down by persistent operational headwinds, a muted earnings outlook and negative estimate revisions. The stock's recent decline, hitting a fresh 52-week low, reflects eroding investor confidence and limited near-term momentum. While valuation multiples have dipped below its peers, the discount seems to reflect PepsiCo's weakening fundamentals rather than a compelling buying opportunity. Mixed segment performance and a reset in growth expectations suggest that the underperformance is more structural than temporary. Until PepsiCo delivers tangible progress on execution, margin recovery and consistent top-line improvement, the valuation gap is unlikely to close. With no immediate catalysts in sight, the cautious guidance and estimate downgrades reinforce the case for a defensive stance. For now, investors may be better served by staying on the sidelines and awaiting clearer signs of stabilization before reconsidering exposure to this Zacks Rank #4 (Sell) stock. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CocaCola Company (The) (KO): Free Stock Analysis Report PepsiCo, Inc. (PEP): Free Stock Analysis Report Monster Beverage Corporation (MNST): Free Stock Analysis Report Primo Brands Corporation (PRMB): Free Stock Analysis Report
