News

Jinse Finance reported that Mizuho Securities has maintained an "underperform" rating on a certain exchange's stock, with the company's analysts lowering the base target price from $84 to $70. The exchange's stock (ticker symbol CRCL) traded at around $82 on Friday, having fallen nearly 40% over the past month. In a research report, Mizuho Securities analysts stated: "We believe the company's valuation fails to adequately reflect the major risks to its medium-term profitability." The analysts also pointed out that potential risks include "the upcoming interest rate cuts, relatively stagnant economic growth, high (and rising) transaction costs, as well as increasingly fierce competition among stablecoins."

Jinse Finance reported that Google plans to invest $40 billion in Texas to build three new data centers, expanding its presence as competitors such as OpenAI and Anthropic PBC advance multi-billion dollar investment plans in the state. Google stated in a press release on Friday that this investment will continue through 2027. One data center will be located in Armstrong County, Texas, and the other two will be in Haskell County. One of the facilities in Haskell will be co-located with a newly built solar and battery storage facility to reduce the impact on the power grid. "This investment will create thousands of jobs, provide skills training for college students and electrician apprentices, and accelerate energy affordability initiatives across Texas," said Alphabet CEO Sundar Pichai at an event near Dallas, where the company already has two data centers.