Category: 3. Business

  • Platts China Lithium Price Assessment

    Platts DDP China Lithium Assessments by S&P Global Energy are based on market information, including, but not limited to, firm bids and offers, and trades reported to the editor up to the close of business each day. Our assessments reflect responsibly sourced material, which sellers should be able to demonstrate in line with standard industry practice, upon buyers’ request. 

    S&P Global Energy collects data from market participants across the full supply chain, allowing us to produce a balanced assessment of price by engaging with suppliers, traders and consumers of all size and scale. 

    S&P Global Energy coverage of the lithium carbonate and hydroxide market is led by a global team across multiple offices: Singapore, Sao Paulo, Houston and London. Platts reporters in these regional hubs cover the key supply and consumption locations for lithium.

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  • Platts US Hot Rolled Coil Metals Price Assessments

    The MOC assessment process is suited for all levels of market liquidity. It gives priority to the most specific, transparent, and actionable data. It enables markets to react more quickly to changes, as data can be viewed by market participants in real-time through the publication of “heards in the market.”

    Heard

    Platts Steel, HRC/US: Transaction at $1,900/st for 1,000 st from an integrated producer: Midwest service center

    Timestamping

    By assessing at a specific time – for US ferrous assessments, that means data is collected until 3:30 pm Eastern – the Platts MOC process is designed to reflect values up to the end of the pricing window.

    Standardized specifications

    Data is normalized back to standard quality, volume, the timing of delivery, terms, and other parameters to ensure like-for-like comparisons.

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  • Non-Ferrous Metals Market Insights | S&P Global

    Non-Ferrous Metals Market Insights | S&P Global

    Our non-ferrous metals products and services are essential for industry participants, such as miners, producers, traders, manufacturers, and investors, helping them make informed decisions, optimize supply chains, and manage risk in fast-growing non-ferrous metals markets.

    S&P Global Energy non-ferrous metals market coverage spans a wide range of critical areas, including pricing information, market insights and industry analysis. This service empowers industry participants involved in metals such as alumina, aluminum, copper, nickel, cobalt, lithium, manganese, molybdenum, zinc and gold, with market intelligence to tackle the complex landscape of global commodities markets with confidence.

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  • Lisaftoclax Monotherapy Achieves Significant Responses and PFS in R/R CLL/SLL | Targeted Oncology

    Lisaftoclax Monotherapy Achieves Significant Responses and PFS in R/R CLL/SLL | Targeted Oncology

    Lisaftoclax, a BCL-2 inhibitor, demonstrated a significant overall response rate (ORR) of 62.5% and a progression-free survival (PFS) of 23.89 months (95% CI, 13.01–not reached [NR]) with a tolerable safety profile in heavily treated patients with relapse/refractory chronic lymphocytic leukemia/small lymphocytic leukemia (CLL/SLL), according to findings of a phase 2 pivotal registration study (NCT05147467).1

    At the data cutoff of July 25, 2025, among 72 evaluable patients, the median time to first response was 3.68 months (range, 1.81–11.14) and the median duration of response was 18.53 months (95% CI, 14.75–NR).1 The median follow-up period was 22.01 months (range, 0.80–38.0).

    The 12-month PFS rate was 66.4% (95% CI, 53.1%–76.7%). The 30-month overall survival (OS) rate was 78.0% (95% CI, 66.1%–86.2%) and the median OS was NR.

    “Further, minimal residual disease [MRD] negativity in peripheral blood was observed in 21.8% of patients and 54.5% in bone marrow,” Kenshu Zhou, MD, of the Henan Cancer Hospital in Zhengzhou, China, said during a presentation of the data at the 67th American Society of Hematology Annual Meeting and Exposition in Orlando, Florida.1

    Study Design

    A total of 77 patients were enrolled if they met the dual criteria of prior refractory, relapsed, or intolerance to both Bruton tyrosine kinase (BTK) inhibitors and immunotherapy or had high-risk factors such as del(17p)/TP53 mutation or chromosomal complex karyotype (CK).

    Eligible patients received lisaftoclax on a daily ramp-up schedule to reach the target dose of 600 mg once a day administered every 28 days in a dosing cycle. The primary end point was ORR, and secondary end points were complete response, PFS, time to response, OS, and safety.

    Baseline Characteristics

    At baseline, patient median age was 63.0 years (range 37–84), 59.7% were male, and had been treated with a median of 3 previous therapies (range, 1–10). Patients had an ECOG status of 0 to 1 (68.8%) or 2 (31.2%).

    Eighty-seven percent were refractory to BTK inhibitors and 39% had del(17p)/TP53 mutation, 53.2% had unmutated immunoglobulin heavy chain variable (IGHV), and 42.9% had CK.

    Among patients with CK (n = 33), 63.6% had high CK with 5 or more aberrations and 21 (63.6%) also had del(17p) of TP53 mutation.

    In patients with del(17p)/TP53 mutation, the median PFS was 11.2 months vs 29.6 months in patients without this mutation or CK (HR, 5.0; P =.018). In patients with high CK, the median PFS was 12.9 months vs 25.7 months in those without high CK (HR, 2.7; P =.001).

    “In our study, CK accounted for 42.9% of the total population. Patients with the del(17p)/TP53 mutation accounted for 39.0% of the population, which was higher than that observed in prior studies.2,3 This represents true BTK inhibitor failure and a refractory population,” Zhou said.

    Regarding safety, most treatment-related adverse events (TRAEs) were grade 1 or 2, although there were grade 3/4 instances of neutropenia (27.3%), thrombocytopenia (16.9%), anemia (9.1%), and pneumonia (3.9%) reported. “There were no cases of tumor lysis syndrome [TLS] or drug-related deaths reported,” Zhou continued.

    Zhou further compared the agent with another BCL-2 inhibitor, venetoclax (Venclexta), noting significant efficacy in heavily pretreated patients with CLL/SLL, a short half-life, and the absence of drug-drug interactions with BTK inhibitors or CD20 monoclonal antibodies.

    “Lisaftoclax monotherapy showed significant efficacy in heavily treated patients with relapsed/refractory CLL/SLL with a favorable safety profile and no TLS observed,” Zhou said. “The agent received a conditional approval in China in July 2025,” Zhou concluded.

    REFERENCES
    1. Zhou K, Wang T, Niu T, et al. Results of a registrational Phase 2 study of lisaftoclax monotherapy for treatment of patients (pts) with Relapsed/Refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who had failed Bruton’s tyrosine kinase inhibitors (BTKis). Presented at: 67th American Society of Hematology Annual Meeting and Exposition; December 6-9, 2025; Orlando, Florida. Abstract 88.
    2. Ghia P, Pluta A, Wach M, et al. ASCEND: Phase III, randomized trial of acalabrutinib versus idelalisib plus rituximab or bendamustine plus rituximab in relapsed or refractory chronic lymphocytic leukemia. J Clin Oncol; 2020;38(25):2849-2861. doi:10.1200/JCO.19.03355
    3. Brown JR, Eichhorst B, Hillmen P, et al. Zanubrutinib or ibrutinib in relapsed or refractory chronic lymphocytic leukemia. N Engl J Med. 2023;388(4):319-332. doi:10.1056/NEJMoa2211582

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  • Adjuvant Atezolizumab Generates DFS, OS Benefit Regardless of Tumor Size, Nodal Status, and Prior NAC in ctDNA+ MIBC

    Adjuvant Atezolizumab Generates DFS, OS Benefit Regardless of Tumor Size, Nodal Status, and Prior NAC in ctDNA+ MIBC

    Treatment with adjuvant atezolizumab (Tecentriq) provided disease-free survival (DFS) and overall survival (OS) benefits over placebo regardless of tumor stage, nodal status, or prior receipt of neoadjuvant chemotherapy (NAC) in patients with circulating tumor DNA (ctDNA)–positive muscle-invasive bladder cancer (MIBC) by serial testing, according to data from an exploratory subgroup analysis of the phase 3 IMvigor11 trial (NCT04660344) presented at the 26th Annual Meeting of the Society of Urologic Oncology.1

    Of note, the rates of ctDNA positivity were higher in patients with higher tumor stage or a positive nodal status at the time of cystectomy, though investigators noted that surgical staging alone was not sufficient for predicting ctDNA status.

    Among patients with persistent ctDNA negativity, the risk of recurrence or death was low across all tumor stages, nodal statuses, and receipt of prior NAC following cystectomy.

    “These results support the use of serial ctDNA testing after cystectomy to enhance risk determination beyond classical surgical pathological staging and identify patients with ctDNA-positive status who benefit from adjuvant atezolizumab while sparing patients who persistently test ctDNA-negative from unnecessary treatment,” Juergen E. Gschwend, MD, PhD, a professor of urology at the Technical University of Munich’s School of Medicine and Health in Germany, stated in a presentation of the data.

    Key Takeaways From the Exploratory Analysis of IMvigor-011

    • Adjuvant atezolizumab significantly improved DFS and OS vs placebo in patients with ctDNA-positive MIBC; this was generally observed across all tumor stages, nodal statuses, and prior neoadjuvant chemotherapy exposure.
    • Among patients with persistent ctDNA negativity, DFS and OS rates were high following cystectomy regardless of tumor stage, nodal status, or prior neoadjuvant chemotherapy.
    • Overall, these data indicate that serial ctDNA testing can be used to improve risk stratification after cystectomy and help identify specific patients with ctDNA-positive MIBC who would benefit from adjuvant atezolizumab.

    What did previously reported data from IMvigor011 indicate about the potential role of adjuvant atezolizumab in ctDNA-positive MIBC?

    Radical cystectomy with or without neoadjuvant therapy represents a potential curative option for patients with MIBC, but patients often experience variable outcomes. Accordingly, improving the identification of patients with MIBC at a higher risk of disease recurrence is a priority. There is an increasing body of evidence supporting the prognostic value of ctDNA-based minimal residual disease (MRD) detection following cystectomy.

    IMvigor011 was designed to evaluate the use of adjuvant atezolizumab in ctDNA-positive MIBC by way of serial ctDNA monitoring. Findings from the study were previously presented at the 2025 ESMO Congress and simultaneously published in the New England Journal of Medicine.2 At a median follow-up of 16.1 months, patients who tested positive for ctDNA and were treated with atezolizumab (n = 167) achieved a median DFS of 9.9 months (95% CI, 7.2-12.7) vs 4.8 months (95% CI, 4.1-8.3) with placebo (n = 83), per investigator assessment (HR, 0.64; 95% CI, 0.47-0.87; P = .0047). The HR for DFS was 0.69 (95% CI, 0.48-0.91). The median OS was 32.8 months (95% CI, 27.7-not evaluable [NE]) with atezolizumab vs 21.1 months (95% CI, 14.7-NE) in the placebo arm (HR, 0.59; 95% CI, 0.39-0.90; P = .0131).

    How was the IMvigor11 trial designed?

    IMvigor011 enrolled patients with MIBC who underwent radical cystectomy within 6 to 24 weeks of screening and had histologically confirmed (y)pT2-T4aN0M0 or (y)pT0-T4aN+M0 urothelial cancer with no evidence of radiographic disease progression.1 Prior neoadjuvant therapy was permitted, and an ECOG performance status of 0 to 2 was required.

    Following enrollment, patients underwent serial ctDNA testing every 6 weeks and radiographic imaging every 12 weeks until 1 year post-cystectomy. If patients tested ctDNA negative, serial ctDNA testing was repeated; those who remained ctDNA negative for up to 1 year did not receive any treatment, and surveillance continued with follow-up. Patients who tested positive for ctDNA at any point without evidence of radiographic disease were randomly assigned 2:1 to receive either 1680 mg of atezolizumab or placebo once every 4 weeks for up to 1 year.

    The trial’s primary end point was Investigator-assessed DFS; OS was a key secondary end point.

    Of the 761 patients enrolled during the surveillance monitoring period, 379 tested positive for ctDNA at any point, and 377 patients remained in persistent ctDNA negativity. Five patients had no ctDNA results. Assessment of pathologic staging at cystectomy showed that patients had (y)pT2N0 disease, (ctDNA+, n = 48; ctDNA-negative, n = 129), including pT2N0 (n = 17; n = 66) and (y)pT2N0 (n = 31; n = 63) staging; (y)pT3-4N0 disease (n = 123; n = 171),(y)pT≤2M+ disease (n = 66; n = 45), or (y)pT3–4N+ disease (n = 141; n = 30). Corresponding ctDNA positivity rates for patients with pT2N0, (y)pT2N0, (y)pT3-4N0, (y)pT≤2M+ and (y)pT3–4N+ disease were 20.5%, 33.0%, 41.8%, 59.5% and 82.5%, respectively .The data cutoff for the current analysis was June 15, 2025, and the median follow-up from random assignment was 16.1 months.

    How did DFS and OS differ according to tumor stage, nodal status, and prior NAC in the ctDNA-positive patient population?

    Tumor Stage

    In those with (y)p≤T2 disease:

    • The median DFS was 14.8 months (95% CI, 6.6-25.1) with atezolizumab (n = 53) vs 8.4 months (95% CI, 4.2-14.6) with placebo (n = 27; unstratified HR, 0.56; 95% CI, 0.31-1.01).
    • The 12- and 24-month DFS rates with atezolizumab were 54.9% and 36.2%, respectively; corresponding rates with placebo were 37.1% and NE.
    • The median OS was NE (95% CI, 29.1-NE) with atezolizumab vs 27.4 months (95% CI, 20.1-NE) with placebo (unstratified HR, 0.77; 95% CI, 0.32-1.90).
    • The 12- and 24-month OS rates were 91.9% and 74.0% with atezolizumab. Corresponding rates in the placebo arm were 91.8% and 60.6%.

    In the (y)pT3–4 group:

    • The median DFS with atezolizumab (n = 114) was 8.3 months (95% CI, 6.5-10.6) vs 4.2 months (95% CI, 3.0-6.3) with placebo (n = 56; unstratified HR, 0.64; 95% CI, 0.45-0.92).
    • The 12- and 24-month DFS rates with atezolizumabwere 39.8% and 24.1%, respectively; corresponding DFS rates with placebo were 25.7% and 18.4%.
    • The median OS was 29.9 (95% CI, 21.1-NE) with atezolizumab vs 13.1 months (95% CI, 10.5-NE) with placebo (unstratified HR, 0.58; 95% CI, 0.37-0.93).
    • The 12- and 24-month OS rates were 81.9% and 57.4% with atezolizumab. Corresponding rates in the placebo arm were 58.3% and 40.0%.

    Nodal Status

    In patients with (y)pN0 disease:

    • The median DFS was 8.3 months (95% CI, 4.5-13.2) with atezolizumab (n = 71) vs 6.2 months (95% CI, 2.3-10.6) with placebo (n = 35; unstratified HR, 0.74; 95% CI, 0.45-1.12).
    • The 12- and 24-month DFS rates in the atezolizumab arm were 42.5% and 25.2%, respectively; corresponding DFS rates with placebo were 30.6% and 10.2%.
    • The median OS was 29.9 months (95% CI, 21.1-NE) with atezolizumab vs 18.1 (95% CI, 12.1-NE) with placebo (unstratified HR, 0.72; 95% CI, 0.38-1.39).
    • The 12- and 24-month OS rates in the atezolizumab arm were 81.2% and 55.4%, respectively. Corresponding OS rates with placebo were 69.2% and 43.9%.

    In the (y)pN+ population:

    • The median DFS was 10.4 months (95% CI, 7.1-19.5) with atezolizumab (n = 96) and 4.8 months (95% CI, 4.1-8.3) with placebo (n = 48; unstratified HR, 0.58; 95% CI, 0.39-0.86).
    • The 12- and 24-month DFS rates in the atezolizumab arm were 46.4% and 30.0%, respectively; corresponding DFS rates with placebo were 28.6% and 13.4%.
    • The median OS was 34.4 months (95% CI, 29.1-NE) with atezolizumab vs 22.2 months (95% CI, 17.4-NE) with placebo (unstratified HR, 0.61; 95% CI, 0.36-1.05).
    • The 12- and 24-month OS rates in the atezolizumab arm were 87.8% and 67.8%, respectively. Corresponding OS rates with placebo were 70.9% and 48.4%.

    Prior NAC

    In patients with no prior exposure to NAC:

    • The median DFS was 10.5 months (95% CI, 6.6-14.5) with atezolizumab (n = 87) and 5.3 months (95% CI, 2.3-9.7) with placebo (n = 50; unstratified HR, 0.66; 95% CI, 0.44-1.00).
    • The 12- and 24-month DFS rates in the atezolizumab arm were 45.1% and 28.1%, respectively; corresponding DFS rates with placebo were 34.9% and 16.4%.
    • The median OS was 35.9 months (95% CI, 24.4-NE) with atezolizumab vs 18.2 months (95% CI, 13.1-NE) with placebo (unstratified HR, 0.52; 95% CI, 0.31-0.89).
    • The 12- and 24-month OS rates in the atezolizumab arm were 89.0% and 65.5%, respectively. Corresponding OS rates with placebo were 66.5% and 43.9%.

    In patients who had received prior NAC:

    • The median DFS was 8.2 months (95% CI, 6.1-12.8) with atezolizumab (n = 80) and 4.4 months (95% CI, 3.7-10.4) with placebo (n = 33; unstratified HR, 0.59; 95% CI, 0.37-0.95).
    • The 12- and 24-month DFS rates in the atezolizumab arm were 44.5% and 28.1%, respectively; corresponding DFS rates with placebo were 20.1% and 5.0%.
    • The median OS was 30.8 months (95% CI, 22.0-NE) with atezolizumab vs NE (95% CI, 14.7-NE) with placebo (unstratified HR, 1.00; 95% CI, 0.50-1.99).
    • The 12- and 24-month OS rates in the atezolizumab arm were 80.5% and 69.9%, respectively. Corresponding OS rates with placebo were 75.7% and 53.3%.

    What were the DFS and OS outcomes with adjuvant atezolizumab according to tumor stage, nodal status, and prior NAC in patients with persistent ctDNA negativity?

    Efficacy outcomes according to tumor stage were as follows:

    • In the (y)p≤T2 population (n = 166), 12- and 24-month DFS rates were 96.3% and 89.1%, respectively; the 12- and 24-month OS rates were 100% and 97.3%
    • In the (y)pT3–4 population (n = 189), corresponding DFS rates were 94.6% and 87.5%; corresponding OS rates were 100% and 96.9%.

    When assessed by nodal status:

    • In the (y)pN0 population (n = 285), 12- and 24-month DFS rates were 96.4% and 89.3%, respectively; the 12- and 24-month OS rates were 100% and 96.7%.
    • In the (y)pN+ population (n = 72), corresponding DFS rates were 91.5% and 84.5%; corresponding OS rates were 100% and 98.4%

    DFS and OS rates according to receipt of prior NAC were as follows:

    • Among patients with no prior receipt of NAC (n = 189), 12- and 24-month DFS rates were 96.2% and 86.2%, respectively; the 12- and 24-month OS rates were 100% and 95.7%, respectively.
    • For those who previously received NAC (n = 168), corresponding DFS rates were 94.6% and 90.8%; corresponding OS rates were 100% and 98.6%, respectively.

    References

    1. Gschwend JE, Bellmunt J, Arslan C, et al. Circulating tumor DNA-guided adjuvant atezolizumab vs placebo in patients with muscle-invasive bladder cancer after radical cystectomy: exploratory subgroup analysis of the phase 3 IMvigor011 trial. Presented at: 26th Annual Meeting of the Society of Urologic Oncology. December 2-5, 2025; Phoenix, Arizona.
    2. Powles T, Kann AG, Castellano D, et al. ctDNA-guided adjuvant atezolizumab in muscle-invasive bladder cancer. N Engl J Med. Published online October 20, 2025. doi:10.1056/NEJMoa2511885

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  • Which Stock Is the Better Long-Term AI Buy?

    Which Stock Is the Better Long-Term AI Buy?

    Artificial intelligence (AI) is creating trillion-dollar opportunities, but not all AI stocks are built the same. In the race for long-term dominance, two names are consistently standing out. While Nvidia (NVDA) remains the undisputed powerhouse behind today’s AI infrastructure, Palantir (PLTR) is the emerging software force driving real-world AI adoption. Both are growing at extraordinary rates, both sit at the heart of massive technological transformations, and both claim moats that competitors struggle to match. The question now is, when looking a decade ahead, which could be the better long-term AI buy?

    Valued at $4.4 trillion, Nvidia designs and builds the powerful chips, hardware systems, and software that run modern AI. Nvidia continues to deliver staggering results each quarter, cementing its position as the undisputed leader in AI infrastructure. NVDA stock has returned over 21,695% over the last decade and is up 32% year-to-date (YTD).

    www.barchart.com

    In its most recent third quarter of fiscal 2026, Nvidia reported $57 billion in revenue, up 62% year-over-year (YoY), with a record $10 billion sequential jump. Earnings surged 67%, and gross margins climbed to an exceptional 73.6%, indicating overwhelming demand and pricing power. Its Data Center segment, the engine of modern AI, generated $51 billion, up 66%. Cloud providers remained sold out of Nvidia hardware, and even older-generation GPUs like Hopper and Ampere remained fully utilized. Blackwell’s GB300 currently accounts for two-thirds of its revenue, and networking is rapidly expanding thanks to NVLink and Spectrum-X.

    Perhaps most importantly, Nvidia shows no signs of slowing. Its next platform, Vera Rubin, launches in 2026 with seven new chips that will again push performance to new heights. Nvidia also unveiled major AI factory initiatives involving five million GPUs, showcasing its long-term dominance in global AI infrastructure.

    Financially, Nvidia is strong with $60.6 billion in cash and $22 billion in free cash flow at the end of the quarter. It also has a low debt-to-equity ratio of 0.06. NVDA stock still trades at 24.6x forward fiscal 2027 earnings, below its historical average. Analysts expect 56% earnings growth in fiscal 2026 and 59% growth in fiscal 2027, indicating that Nvidia is a powerhouse with a multi-year runway powered by accelerated computing, generative AI, and agentic AI.

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  • Govt underscores commitment to crypto regulation in talks with Binance chief

    Govt underscores commitment to crypto regulation in talks with Binance chief

    PM Shehbaz, CDF Asim Munir briefed on Pakistan’s emerging virtual asset ecosystem

    Binance Global CEO Richard Teng meets with Prime Minister Shehbaz Sharif and Army Chief Field Marshal Syed Asim Munir in Islamabad on Saturday, Dec 6, 2025. Photo: APP

    The government has reiterated its commitment to building a transparent and secure regulatory framework for digital assets, as senior officials held a high-level meeting with Binance leadership, including its Global CEO Richard Teng, during his visit to Islamabad.

    Prime Minister Shehbaz Sharif and Chief of Defence Forces, Field Marshal Asim Munir were also present in the meeting. The meeting was briefed on Pakistan’s emerging virtual asset ecosystem. Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), also participated and outlined the authority’s recent progress and ongoing initiatives.

    Read: Pakistan ranks third globally in crypto despite no regulation: Bilal Bin Saqib

    In a statement, the Prime Minister’s Office said the government remained committed to creating “a transparent and secure regulatory framework for digital assets to promote innovation while safeguarding investors’ interests.”

    The engagement comes as Pakistan prepares to step into the global digital finance arena through the launch of its first stablecoin—part of a broader plan to integrate virtual assets into the national economy.

    Saqib had earlier confirmed the development during Binance Blockchain Week, where he said Pakistan would “definitely launch” a stablecoin while also progressing on Central Bank Digital Currencies (CBDCs).

    He made the comments during a panel discussion on emerging-market regulation hosted by the Pakistan Crypto Council. His appearance followed earlier announcements this year, including the unveiling of Pakistan’s first government-led Strategic Bitcoin Reserve at Bitcoin Vegas—an event attended by prominent US political figures.

    In May, the government allocated 2,000 megawatts of electricity for the first phase of a national programme supporting Bitcoin mining and artificial intelligence data centres.

    Pakistan remains one of the world’s most active crypto markets. According to the 2025 Chainalysis Global Crypto Adoption Index, the country ranks third globally—ahead of major economies including China, Germany and Japan. It also stands second in retail-size crypto transactions and third in activity on centralised exchanges, reflecting a market driven by high transaction volumes.

    Also Read: Pakistan to launch first stablecoin, says official

    Saqib said Pakistan seeks to channel this momentum through a structured regulatory environment that protects investors without stifling innovation. “Pakistan is the world’s third-largest crypto market without any regulatory framework,” he said at Binance Blockchain Week Dubai. “Now we want to turn this momentum into a global case study.”

    He cautioned, however, that the rankings measure transaction volume rather than the number of individual crypto holders. Estimates suggesting 20 to 40 million Pakistani users, he added, remain unverified due to the absence of independent nationwide studies.

    Pakistan now finds itself at a critical point: a rapidly growing youth-driven crypto market is expanding alongside a regulatory framework still under development. While adoption continues to surge—particularly among younger, tech-oriented users—risks linked to volatility, limited public awareness and past scams persist.

    Pakistan’s future as a high-growth crypto market, Saqib said, will depend on how effectively regulation balances innovation, investor protection and long-term stability.

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  • 2 Artificial Intelligence Stocks That Can Have Their Nvidia Moment in 2026

    2 Artificial Intelligence Stocks That Can Have Their Nvidia Moment in 2026

    • CoreWeave’s AI-ready cloud platforms have benefited from unprecedented demand growth.

    • AMD’s improving ability to compete with Nvidia could spark a massive rally in the stock.

    • 10 stocks we like better than CoreWeave ›

    Despite concerns over an artificial intelligence (AI) bubble, investors continue to bid AI stocks higher. Of those stocks, Nvidia remains one of the more notable winners, having risen nearly 1,500% from its 2022 low.

    Still, succeeding in investing means looking forward, and ideally finding the stocks that will have the next Nvidia moment. While none of us can reliably predict such events beforehand, these AI stocks stand a strong chance of achieving such a milestone in 2026.

    Image source: Getty Images.

    CoreWeave (NASDAQ: CRWV) stock has only traded since March and has already experienced a massive run-up before dropping nearly 60% from that high.

    Nonetheless, CoreWeave stands out in the cloud computing market by offering cloud infrastructure products specifically designed to handle AI workloads. This helps it stand out over legacy cloud platforms such as Amazon Web Services (AWS) or Microsoft‘s Azure cloud.

    Moreover, the aforementioned stock volatility may remind investors of Nvidia. Despite Nvidia’s gains, it has also become notable for massive drawdowns.

    This may be the path CoreWeave stock is following. However, Grand View Research forecasts the AI market will grow at a compound annual growth rate (CAGR) of 32% through 2033. If this forecast proves close to accurate, it bodes well for CoreWeave’s future as an AI cloud provider.

    Recent growth reflects that interest. In the third quarter of 2025, revenue of nearly $1.4 billion rose 134% compared to the same period in 2024.

    Admittedly, the cost of meeting this rapidly growing demand does take a toll on its financials. Net losses for Q3 were $110 million, far less than the year-ago quarterly loss of $389 million.

    However, the drawdown has taken its price-to-sales (P/S) ratio to just over 7, a level comparable to just before the recent surge in the stock price.

    Additionally, the 136% revenue increase anticipated for 2026 closely approximates the Q3 2025 growth rate. That, along with its $1.9 billion in liquidity, may mean it can sustain its current financial pace long enough to turn profitable, securing its place in the AI cloud and a bright future for shareholders.

    Since the tech industry became aware of the power of Nvidia’s AI accelerators, Advanced Micro Devices (NASDAQ: AMD) has worked to catch up in this industry. Due to its advancements and Nvidia’s inability to fully meet demand, AMD has found customers for its MI350 accelerators.

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  • How Deutsche Bank’s Senior Unsecured Bond Wave Could Reshape Deutsche Bank (XTRA:DBK) Investors’ Earnings Mix

    How Deutsche Bank’s Senior Unsecured Bond Wave Could Reshape Deutsche Bank (XTRA:DBK) Investors’ Earnings Mix

    • In late November and early December 2025, Deutsche Bank Aktiengesellschaft issued and announced multiple fixed‑coupon, senior unsecured, callable notes across maturities from 2029 to 2050, including several Eurobond and Eurodollar formats priced at par with discounts of 0.4% to 5% per security.

    • This burst of fixed‑income issuance highlights Deutsche Bank’s active use of debt markets to refine its funding profile and support its broader banking activities, coinciding with a senior hire to lead global private bank investment solutions.

    • We will now examine how this wave of senior unsecured bond issuance might influence Deutsche Bank’s investment narrative and future earnings mix.

    These 13 companies survived and thrived after COVID and have the right ingredients to survive Trump’s tariffs. Discover why before your portfolio feels the trade war pinch.

    To own Deutsche Bank, you need to believe it can convert improving profitability and disciplined capital returns into durable earnings, despite low forecast growth and lingering asset quality and litigation risks. The recent wave of fixed coupon senior unsecured issuance modestly tightens the funding story but does not materially change the near term focus on credit costs, especially in U.S. CRE, or on managing large one off items that still cloud earnings quality.

    Among recent announcements, the appointment of Vivienne Chia as global head of private bank investment solutions stands out as most connected to this funding activity, because it speaks to the mix of fee based and interest driven earnings these bonds may support over time. As the private bank builds out higher margin investment solutions on top of a still credit heavy balance sheet, the key question is how quickly that mix can offset pressures from regulation, competition and capital requirements.

    Yet investors should be aware that rising regulatory complexity and capital requirements could still…

    Read the full narrative on Deutsche Bank (it’s free!)

    Deutsche Bank’s narrative projects €33.8 billion revenue and €6.8 billion earnings by 2028. This requires 4.0% yearly revenue growth and about a €1.3 billion earnings increase from €5.5 billion today.

    Uncover how Deutsche Bank’s forecasts yield a €31.30 fair value, in line with its current price.

    XTRA:DBK Community Fair Values as at Dec 2025

    Seven fair value estimates from the Simply Wall St Community span roughly €17 to about €35.89 per share, underlining how far apart views on Deutsche Bank’s upside can sit. When you weigh those opinions against the risk of persistently elevated credit losses and high bad loans, it becomes even more important to compare several viewpoints before deciding how this bank might fit into your portfolio.

    Explore 7 other fair value estimates on Deutsche Bank – why the stock might be worth as much as 15% more than the current price!

    Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include DBK.DE.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • How the Narrative Surrounding Prothena Is Changing After New Pipeline and Valuation Updates

    How the Narrative Surrounding Prothena Is Changing After New Pipeline and Valuation Updates

    Prothena’s fair value estimate has been nudged higher from $18.33 to $20.33 per share as analysts grow more confident in the company’s partnered pipeline and its potential to drive stronger long term revenue. The model now assumes faster top line expansion, with projected revenue growth raised from 74.7% to 90.9%, reflecting optimism around milestones, royalties, and expanding indications. Read on to see how this evolving narrative is reshaping expectations for Prothena and how you can stay aligned with future updates.

    Analyst Price Targets don’t always capture the full story. Head over to our Company Report to find new ways to value Prothena.

    🐂 Bullish Takeaways

    • Piper Sandler reaffirmed its Overweight rating and more than doubled its price target on Prothena to $36 from $15, signaling increased conviction in the stock’s upside relative to current levels.

    • The firm highlights the value of Prothena’s partnered pipeline, pointing to potential income from net sales royalties and milestone payments as a key driver of long term growth momentum.

    • Piper Sandler describes the next 12+ months as catalyst rich, indicating confidence in Prothena’s execution on upcoming milestones and its ability to sustain revenue expansion that supports the higher valuation framework.

    🐻 Bearish Takeaways

    • Even as Piper Sandler turns more positive on upside potential, the reliance on future milestones and royalties underscores ongoing execution and timing risks that could challenge the durability of the current valuation if key catalysts slip or underperform.

    Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives or begin writing your own Narrative!

    NasdaqGS:PRTA Community Fair Values as at Dec 2025
    • Presented new preclinical data on CYTOPE, a novel drug delivery modality for cytosolic delivery of macromolecules to the brain and periphery, at Neuroscience 2025, highlighting its potential to target previously undruggable intracellular disease pathways.

    • Reported preclinical ALS results showing that systemically administered TDP 43 CYTOPE reached the brain, localized to intracellular pTDP 43 pathology, and significantly reduced pTDP 43 aggregates and associated RNA dysregulation in mouse models and human neuronal systems.

    • Announced publication of Phase 2 data for coramitug, a potential first in class amyloid depleter antibody for ATTR cardiomyopathy, in Circulation, with the results highlighted in a late breaking session at AHA Scientific Sessions 2025 and supporting its late stage cardiovascular franchise.

    • Highlighted advancement of coramitug into the Phase 3 CLEOPATTRA trial led by Novo Nordisk, under a collaboration that could deliver up to $1.2 billion in milestones for Prothena, including additional clinical milestone payments tied to enrollment targets.

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