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SoftBank-backed SB Energy is moving closer to the public markets through its US IPO.
SB Energy, a SoftBank-backed data center developer, disclosed on Tuesday that it had seen a 66.4% increase in revenue in the first half of 2026. This comes as AI infrastructure firms flock to public markets. The company reported a loss of $3.21billion on revenue of $138.7m in the six-month period ended June 30. This compares to a loss of $215.5m on revenue $83.3m a year ago. This year, companies involved in the AI buildout are increasingly turning to the IPO markets. Hyperscalers and tech firms have invested billions of dollars to expand data centers to keep up with the soaring computing demand. The listing is a test for investor appetite?for the AI Infrastructure trade. This has been under pressure over the past few weeks due to growing concerns about the sustainability and growth of AI spending. Nvidia announced last week a long-term revenue forecast of 70% growth next year. This helped ease fears that the AI boom was fading. According to S&P Global Ratings, AI infrastructure investment is expected to reach $1.3 trillion in 2027 by the world's biggest hyperscalers. SB Energy, based in Redwood City (California), plans to sell new stock shares. The company was reported to be aiming for a valuation in excess of $50 billion. This could happen as soon as September. SB Energy was founded in 2019 and focuses on combining power generation with data centres to address AI's increasing energy needs. The company is working with OpenAI, SoftBank and other companies on a $500 Billion multi-year project to build AI data centres for training and inference. SB Energy's backlog was approximately $439 billion. NVIDIA INVESTS $1.5 BILLION FOR PRIVATE PLACEMENT According to the prospectus, Nvidia has agreed to invest $1.5billion in SB Energy through a private placement priced at the IPO. The chipmaker announced earlier this month a $1.5 Billion investment in SB Energy. It also agreed to guarantee up to $105?billion for?OpenAI to lease a vast data center being built by SoftBank-backed firm in Ohio. According to SB Energy, OpenAI also issued warrants valued at approximately $5.5 billion. As concerns?mount about so-called circular agreements between Nvidia and its customers, the?latest investment has sharpened scrutiny surrounding Nvidia's financial connections across the AI sector. SB Energy's investor base has grown this year with new investments coming from Nvidia, OpenAI and other companies. Ares Management, a private capital?firm, has been a longtime?investor. OpenAI and SoftBank invested $500,000,000 each in SB Energy earlier this year as part of Stargate Initiative. JPMorgan, Goldman Sachs, and Morgan Stanley will be among the underwriters of the offering. SB Energy will be listed on Nasdaq Texas and Nasdaq under the symbol SBE.
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Israeli strikes kill 4 in Gaza, military claims it arrested Hamas militant
Officials in Gaza said that an Israeli-backed 'raid' to detain Hamas militants was discovered on Tuesday. This prompted airstrikes aimed at covering their withdrawal, which killed three Palestinians?including two children. Israel Katz, Israeli Defence Minister, said that a Hamas senior militant was arrested. Hamas official Ismail Al-Thawabta claimed that an Israeli Special Force had attempted to conduct an operation in Gaza City without being detected. Thawabta is the director of Hamas's Gaza government media. Israel launched heavy airstrikes that killed and injured several people. A senior Israeli security official said that the man arrested is the chief of Hamas internal security. According to some Israeli media reports, the raid could have been carried out by a militia backed by Israel that operates in Israeli-controlled zones inside Gaza. Israeli warplanes are believed to have fired 12 missiles at least near the Katiba neighborhood in Gaza City's west, a place crowded with families displaced from their homes. The medics reported that at least three people, including two children and one woman, were killed in the bombardment. Two vehicles were damaged and reduced to twisted wreckage. A medic said that another child was killed by Israeli fire in central Gaza. In a Tuesday statement, the Israeli army said that it had struck multiple targets in Gaza Strip to eliminate threats to Israeli security forces. Katz refused to provide any details on the arrest or the Hamas militant. Katz said, "This is our strategy: we don't wait for threats but instead pursue Hamas terrorists and destroy their terror network." Israa Al-Hissi was shot dead and two others were injured in a separate incident when Israeli forces east of Deir Al-Balah, central Gaza, opened fire. The CEASEFIRE has not stopped the strikes Israeli attacks continue despite a ceasefire backed by the United States that came into effect in October 2025. According to the?military, such operations are meant to stop attacks from Hamas and Palestinian militant groups. Hamas claims that Israel has repeatedly violated the ceasefire, and undermined efforts to advance the broader plan of U.S. president Donald Trump for ending the war. The plan calls for a further Israeli troop pullout from Gaza, as well as the disarmament and dismantling of Hamas. Gaza's health officials claim that more than 1,300 Palestinians have died in Gaza since October last year, when the ceasefire was implemented. According to the Israeli military, four Israeli soldiers were killed by militant attacks in Gaza during this period.
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Zinc and Copper prices spiked on supply concerns before falling due to the strong dollar
On Tuesday, zinc prices reached a four-year-high on concerns about supply. Copper also hit a seven-month high before retreating due to a stronger dollar and global bond selling. Benchmark three-month Zinc?on the London Metal Exchange?was up 1.3% to $3,933 per metric ton at 1020 GMT, after reaching its highest level since May 2022. The stock markets fell on Tuesday, and bond yields rose on the back of renewed Middle East fighting. Ole Hansen is head of commodity strategy for Saxo Bank, Copenhagen. He said that the tight supply outlook was the main focus in industrial metals. "There are concerns about rising prices and funding costs. But it shows that commodities in a tight supply can weather the storm, even when the outlook for demand is uncertain." The highest-trading?zinc contract at the Shanghai Futures Exchange reached a high of 27,165 yuan per ton, its highest level since?January. The metal used to galvanize steel has seen its price rise due to falling refined zinc stocks outside China, tight supply of raw materials and speculation. August saw the highest monthly performance on the LME and SHFE since January. Data showed that the LME's available zinc inventories (materials not earmarked for disposal) fell to 68.250 tons in less than one week, a?28% drop, their lowest level since December of last year. The shortage of metal outside China has pushed it out of the country into overseas warehouses. This has supported prices and reduced inventories on these?markets. In a recent note, Chinese broker Jinrui futures stated that domestic (Chinese), inventories experienced a "sharp drawdown" on Monday. Spot purchases were concentrated in brands with a high delivery rate. LME 'copper' reached its highest level since January 29, 2014 at $14441.50 per ton, before slipping to the red and ending up 0.5% lower at $14218. The dollar's strength makes the price of commodities in U.S. dollars more expensive for buyers who use other currencies. LME?aluminum rose 0.3% to a ton of $3,253 after reaching its highest level since August 13, at $3,288, while lead was little altered at $1,905, Nickel shed 0.7% to $15,750, and Tin dipped by 0.2% to $55,125.
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MORNING BID AMERICAS - September storm
What is important in U.S. markets and global markets today By?Mike Dolan Editor-at-Large for Finance and Markets As September begins, the world markets are preparing for another storm of government bonds. Following Kevin Warsh’s Jackson Hole speech, U.S. Treasury rates climbed?across curves, with the benchmark 10-year borrowing rate reaching its highest level since Donald Trump took office in January of last year. Below, I'll explain more. Listen to the Morning Bid Daily Podcast, which discusses the bond rout, and Shein's poor IPO. Subscribe to the podcast and hear journalists discussing the latest news in finance and markets seven days a weeks. SEPTEMBER Storm The rising yield on 10-year bonds will have greater ripple effects in the economy, affecting mortgage rates and other consumer and business loans. Warsh made a speech on Friday at the Jackson Hole Symposium, in which he said that the central banks has "work to be done" if the inflation rate doesn't return to its target. He said that he believes the current Fed settings do not limit the economy significantly right now. The Fed will meet again at the end of this month and little is expected to change in the way of inflation. Futures markets are now predicting a two thirds chance that rates will rise. The pressure will be increased by another jump in the world crude oil price this week due to the return of military exchanges?in the Iran War. Bond markets are in a frenzy as the Bank of Japan, the European Central Bank and other central banks may also raise rates this month. The 10-year Japanese government bond yield reached 3% on Tuesday for the first since 1996, as the revival of dollar following the Warsh speech has weighed heavily on the yen. This is increasing calls for the BOJ rate hike this month to follow the currency market intervention of the summer. The European bond market is also agitated by the tricky budget season in Europe and its upcoming elections. Asian stocks were mixed Tuesday, and U.S. Futures were down before the bell. Hong Kong's Hang Seng ended?1% lower due to a fall in Shein's shares following the retailer's debut on the market. Chart of the Day There are still some big tech names to report earnings this week. Dell and Palo Alto Networks will update on Tuesday. Broadcom, the chip giant, will report tomorrow. Broadcom, with a market capitalization of $1.7 trillion is the seventh-most valuable stock on Wall Street. It's well above so-called Magnificent 7 names Meta and Tesla. Watch today's events * U.S. JOLTS July job openings (10 am EDT), August ISM Manufacturing PMI (10 am EDT) Michael Barr, Feds' Michael Barr speaks The G20 Finance Ministers Meeting in Asheville, North Carolina is on its final day. Want the Morning Bid delivered to your inbox each weekday morning? Subscribe to the newsletter by clicking here. You can find ROI's website and follow us on LinkedIn or X. The opinions expressed are solely those of the authors. These opinions do not represent the views of News. News is committed to the Trust Principles and to independence, integrity, and neutrality.
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Foresters in Serbia plan to make the scorched dunes even hotter.
Foresters in Serbia are facing difficult choices more than a week after fires ravaged the Deliblatska Pescara Reserve. They must decide how to restore its unique dunes, woodlands and forest ecosystems so that they can better withstand 'future wildfires. The question of what to replace and keep in a region where forest fires were once rare but will become more frequent with global warming is a core issue. Jovana devetakovic is a lecturer in the Faculty of Forestry at University of Belgrade. She said, "For the next 15, 20, or even 25 years it won't likely look like a tree -- it will probably look like low shrubland." She said that damage assessment alone would take a full year. After that, the?ravaged materials will be removed. This includes half-burned trees or weaker ones. It is a slow process so as to not create new fires or breeding grounds for bark insects which threaten healthy forests. There are many options for replanting the conifers, including birch, oak, ash, and poplar. The reserve is located about 80 km from Belgrade. Since more than 200 years, black pines and locusts have dotted the horizon. Replanted trees of these trees were destroyed by past fires, including major fires that occurred in 1996 and 2007. Alexander Held, senior expert at the European Forest Institute (a group backed by thirty European states), asked: "Do you want Robinia (black locust) and Pinus (black pine) to be in this ecosystem?" He warned against rushing to replant large areas and suggested a period of observation between three and five years in areas where erosion was not an immediate risk. According to data from the European Forest Fire Information System, the three worst years for fires in Serbia were 2023-2025. Experts are drawing comparisons between the current situation and traditionally drier areas. Theocharis Zagas is Emeritus Professor of Forestry and Natural Environment, Aristotle University of Thessaloniki. He said that "special methods" must be used, including organic materials in the planting holes as well as materials that capture water and improve soil moisture.
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Oil prices fuel inflation fears, which in turn intensifies the bond selloff and stock drop.
The global bond yields reached new highs as traders prepared for an interest rate increase and renewed fighting in the Middle East boosted oil prices. This put pressure on stock markets all over the world. Investors were also worried about the ever-increasing public debt. The yield on Britain's 10-year bond hit a record high since 2008, above 5.24%. Meanwhile, the German equivalent yield reached a 15-year peak at 3.36%. Ryutaro kimura, senior strategist at BNP?Asset management in Tokyo, said: "I think that there is a sense of resignation - tinged by helplessness - about rising interest rates." The march upward of Japanese borrowing costs has been a reliable anchor on world markets for years. The rise in oil prices, and the renewed U.S.-Iran conflict, are fueling inflation fears, which is bad for bonds. Meanwhile, Federal Reserve Chair Kevin Warsh's speech last week has led traders to increase their bets that U.S. interest rates will rise this year. The yield on the 10-year U.S. Treasury, which is used as a benchmark to compare prices of all asset classes, has risen to 4.79%, its highest level since early 2025. "I believe that most of the (bond) sale-off has been a reassessment by Fed policy," said Andrew Lilley. He is the chief rates strategist for Barrenjoey Investment Bank in Sydney. "I believe the Fed will?hike in September and I think that it is?the start of a three-rate cycle at least." Stocks fall as borrowing costs rise The S&P 500 futures contract fell 0.6% as bond yields rose and oil prices increased. The STOXX 600, Europe's continental index, fell by 0.7%. Hong Kong's Hang Seng fell 1% as the disappointing debut of clothing company Shein Global set the tone for a weak market. Shein Global's value is now less than one quarter of what it was pre-listing in 2022, after the shares fell 8%. Aneeka Gupta is a senior analyst at WisdomTree. She said that higher yields may put pressure on tech firms who are heavily borrowing in bond markets to finance AI investments. She said: "The higher the yields, the greater the strain on this sector, one of the biggest growth drivers in equity markets." "I believe that's resulting in the spillover in equity markets that we are seeing today." As renewed conflict in the Middle East dampened prospects for a reopening of Strait of Hormuz, rising oil prices drove?global bonds yields higher? on Tuesday. Brent crude rose by 2% to $92.20 while Europe's benchmark gas price increased towards its highest level since early 2023. Donald Trump, the president of the United States, has warned that he will continue to strike Iran following a first exchange in fire within a month. In the meantime, increased fighting between Russia and Ukraine is pushing wheat prices to three-year-highs. As bonds and stocks declined, the U.S. Dollar gained on Tuesday. The euro fell 0.2% to 1.16 dollars and the dollar rose 0.1% to 159.9. According to CME’s FedWatch tool on Tuesday, traders were pricing in a 65% probability of a Fed interest rate hike this September. This is up from 40% one week earlier. The money markets also priced in an additional rate hike by the European Central Bank for this month.
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Gulf oil stocks soar as US-Iran conflict intensifies
Gulf stock markets rose in early trade Tuesday on higher oil prices, while United Arab Emirates stocks were subdued as renewed fighting between the United States and Iran dampened investor sentiment. Brent crude traded at $91.94 per barrel as of 0804 GMT, an increase of 1.6%. Qatar's benchmark rose 0.6% with all sectors in positive territory. Qatar Fuel Company gained 4.6% while Qatar National Bank (the region's biggest lender) added?1.1%. Saudi Arabia's benchmark stock index increased by 0.3%. Healthcare, materials, and energy stocks led the way. Saudi Aramco, the oil giant, gained 0.7% while Rabigh Refining and Petrochemical soared by 4.7%. Saudi Arabia will likely 'raise the official selling price for crude bound for Asia in October, according to a survey. A survey revealed that Middle East spot crude prices rose on the back of tighter supply and strong demand. The benchmark index in Abu Dhabi fell by 0.3% with all sectors falling. First Abu Dhabi Bank, UAE's biggest lender, fell 1.7% while conglomerate, International Holding Company, declined by 0.5%. Dubai's main index remained unchanged, as gains elsewhere were offset by losses in consumer staples, utilities, and communication. Emirates Integrated Telecommunications dropped 3.5% while blue-chip developer 'Emaar Properties' rose 1.3%. Donald Trump, the U.S. president, threatened to strike Iran again on Monday after the first direct exchange of attacks within a month. This heightened tensions in an 'economic standoff' that recently evolved into a conflict. Masoud Peshkian, the President of the Shanghai Cooperation Organisation, said that Iran would immediately reciprocate, if "the U.S. returned to its commitments under an interim agreement" signed in June.
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Sources say India has revived talks with Zambia about investing in vital minerals
Two sources confirmed that India has resumed discussions with Zambia about investment opportunities in copper, and other minerals of importance, as New Delhi increasingly looks overseas to source raw materials for its growing economy. Two people who were familiar with the talks, who requested anonymity due to the confidentiality of the discussion, said that officials from India's Ministry of Mines had preliminary discussions on August 26 with Zambian officials. One source said that the two parties did not discuss an stalled project which had stopped talks earlier. Reports in April indicated that the talks between India, Zambia and other countries had been stalled due to a lack assurances by Lusaka regarding mining rights for an area measuring 9,000 square kilometers (3 475 square miles), which were awarded to India last year. The Indian Ministry of Mines did not respond to our request for a comment. Zambia's Ministry of Mines spokesperson said that they couldn't confirm anything at this time. Khanij Bidesh India Ltd is India's primary vehicle for securing vital mineral supplies abroad. It is also evaluating opportunities to invest in Australia, Brazil and Canada. India has been in talks with several African countries to acquire critical mineral blocks on a government-to-government basis, while also exploring opportunities in ?Australia and Latin America. A spokesperson for the Federation of Indian Mineral Industries said that Africa, in particular the Democratic Republic of Congo, and Zambia, can play a?important part in meeting India's increasing requirements for cobalt and copper. The spokesperson stated that "we?believe Indian firms should be encouraged to pursue brownfield projects and near-production, as well as long-term offtake agreements." India is the second largest buyer of refined metals in the world. Its?copper imports are up sharply since a smelter owned by Vedanta, Sterlite Copper?smelter?closed?in 2018. The government said that India may need to import between 91% and 97% of the copper concentrates it uses by 2047.
Mapping the Market - Death Cross to Golden Cross for Global Oil Prices
The global oil price was teetering on the 'edge' of a bearish signal. However, it swerved?away from that and opened the door for a bullish signal.
Click here to view a more detailed chart.
Brent crude is the international benchmark for oil. Since the beginning of hostilities in Iran at the end of last month, headlines have been dominated by the conflict. Prices were falling earlier this month as there was hope that the Strait of Hormuz would reopen. This decline, on top of a broader retreat since?April's high, has contributed to a decline in the 50 day moving average, which is now close to crossing the 200 day average. Technical analysts refer to this pattern as a "death-cross," usually viewed by them as a sign that the sellers are taking the lead.
This cross was never really achieved. Prices rose again as fresh doubts emerged about the ease of Iran tensions. Now the market is flirting?with the opposite signal: the 10-day moving average is positioning itself to possibly rise above the hundred-day average. This is often seen as an indication of further gains, though momentum is already fading.
These signals are lagging indicators, as they occur after large moves have been accounted for in the moving averages. However, once triggered, both can spark new buying or selling. If oil prices rise above the $94.83 high for this month, bullish momentum could be re-ignited towards July's peak price of $102 per barrel. If oil prices fall below the $85.41 low from last week, however, it could lead to $78.11 or even July's $70.14 low.
The chart below shows:
Prices rebounded and prices avoided the 50-day/200 day "death crossing"
The 10-day/100 day "golden Cross" is close, but losing momentum
Support? at $85.41, $78.11, $69.14
(source: Reuters)