Blockonomi

总结：

Arc测试网在90天内处理了150百万笔交易，平均结算时间为0.5秒。

USDC流通量同比增长108%，保持作为最大受监管美元稳定币的地位。

Circle跨链转账协议处理了1260亿的交易量，覆盖19条连接的区块链。

自2025年5月推出以来，Circle支付网络的年化交易量已达到数十亿，与主要银行合作。

 

Circle已概述其2026年的全面产品战略，专注于三个相互关联的支柱，旨在建立完整的互联网金融基础设施。

简而言之:

Progmat Coin 联盟团结了 200 多家日本银行，计划发行 1 万亿日元的三年期稳定币。

Pax 项目将 Swift API 与 IBC 协议集成，以保留银行工作流程，同时现代化结算。

Cosmos 架构实现了账本级合规控制和对受监管资产的许可发行。

自 2021 年推出以来，IBC 互操作性协议在 200 多条区块链上保持零安全漏洞。



代币化存款和稳定币继续重塑机构结算系统，因为主要金融参与者采用区块链基础设施。

TLDR:

比特币的5%回调表现优于黄金的8%和白银的12%下跌，这是由于微软引发的抛售。

Hyperliquid记录了8710万美元的清算，几乎是币安3000万美元的三倍，尽管交易量较低。

币安的未平仓合约达到了123,500 BTC，超过了十月前的水平，自崩盘以来增长了31%。

尽管在几个小时内有3亿美元的清算，交易者们仍然重建仓位，杠杆交易的需求持续存在。



比特币在一个更广泛的市场回调中承受了5%的下跌，期间黄金下跌8%，白银暴跌12%。

TLDR:

GameStop crisis stemmed from outdated two-day settlement infrastructure requiring massive broker deposits. 

Robinhood successfully operates over 2,000 tokenized US stock tokens in European markets with full functionality. 

Current SEC leadership and proposed CLARITY Act create favorable conditions for US equity tokenization adoption. 

Blockchain-based real-time settlement eliminates systemic risk that forced 2021 trading restrictions on investors.

 

Robinhood CEO Vlad Tenev marked the fifth anniversary of the GameStop trading crisis by advocating for blockchain-based equity tokenization.

The 2021 incident forced brokers to halt meme stock purchases due to outdated settlement infrastructure. Tenev believes tokenization can eliminate such restrictions through real-time settlement capabilities.

He pointed to regulatory progress under current SEC leadership as crucial for implementation.

Settlement Infrastructure Remains Core Problem

The GameStop crisis exposed fundamental weaknesses in traditional equity market infrastructure. Clearinghouse rules required massive cash deposits during the two-day settlement period between trades.

Tenev explained the situation involved complex risk-management rules designed to mitigate settlement risks. These systems collapsed when unprecedented trading volume hit concentrated stock positions.

The CEO described how brokers faced impossible capital requirements within hours. He noted the combination of slow financial infrastructure with extreme volatility created massive problems.

His team worked continuously for 72 hours to resolve immediate problems. The company raised over $3 billion to strengthen capital reserves during the chaos.

Tenev stated he vowed to improve both Robinhood’s resilience and the overall system. His advocacy helped reduce settlement times from two days to one day.

He called this achievement the most consequential accomplishment of the Gensler SEC era. However, the CEO emphasized that T+1 settlement still creates delays extending over weekends.

Current infrastructure cannot support modern trading demands or investor expectations. Tenev wrote that in a world of 24-hour news cycles, T+1 remains far too long.

Traditional markets have resisted faster settlement due to entrenched legacy systems. A fundamental technological shift has become necessary for market stability.

Tokenization Offers Real-Time Settlement Solution

Blockchain technology provides the infrastructure upgrade traditional markets lack. Tenev explained that tokenization converts assets like stocks into tokens living on blockchains.

These tokens settle transactions instantly through blockchain’s native capabilities. Real-time settlement eliminates the risk accumulation that caused the GameStop crisis.

The CEO emphasized that moving equities on-chain allows them to benefit from blockchain settlement properties.

No lengthy settlement period means much less systemic risk and reduced pressure. Customers can freely trade how they want and when they want. These capabilities demonstrate practical advantages beyond just settlement speed.

Robinhood already operates tokenized equities in European markets successfully. The platform offers over 2,000 tokens representing U.S.-listed stocks to European traders.

The company plans to enable 24/7 trading and decentralized finance access soon. Investors will gain self-custody options with possibilities for lending and staking.

Major U.S. exchanges and clearinghouses have announced tokenization initiatives recently. Tenev stated that without regulatory clarity, such efforts remain ineffective.

Current SEC leadership is embracing innovation and facilitating experimentation with tokenization. Congress is considering the CLARITY Act to establish permanent regulatory frameworks.

The CEO emphasized that legislation ensures subsequent commissions cannot reverse achieved progress. He concluded by stating that working with the SEC on tokenization guidelines can prevent future restrictions.

The combination of supportive regulators and congressional action creates a unique opportunity. Real-time settlement through tokenization could finally become reality for U.S. retail investors.

The post Robinhood CEO Advocates Blockchain Tokenization to Prevent GameStop-Style Trading Halts appeared first on Blockonomi.

TLDR

OpenAI is seeking to raise up to $100 billion in a new funding round.

Amazon is considering a $50 billion investment, making it the largest investor.

Amazon CEO Andy Jassy is leading talks with OpenAI’s Sam Altman.

The deal could push OpenAI’s valuation to as high as $830 billion.

Amazon continues investing heavily in AI despite recent corporate layoffs.

OpenAI is looking to raise up to $100 billion in new funding, with Amazon considering a $50 billion stake. If successful, this deal could be one of the largest private tech investments in history. Amazon CEO Andy Jassy is leading the talks with OpenAI’s Sam Altman, but details of the deal are still subject to change.

Amazon’s Major Investment in OpenAI

Amazon’s involvement in OpenAI would mark a major shift in its AI investment strategy. Sources close to the discussions indicate that the structure of the deal is still being worked out. Should it happen, Amazon’s $50 billion investment would make it the largest stakeholder in this funding round.

Despite recent corporate layoffs, Amazon continues to pour large sums into artificial intelligence. The company recently cut 16,000 jobs while also committing billions to AI infrastructure. This includes custom AI chips and AI models, making OpenAI a crucial piece of its broader AI strategy.

OpenAI’s New Funding and Potential Valuation

The new round of funding could push OpenAI’s valuation to as high as $830 billion. OpenAI is seeking contributions from other large investors to complete the funding round. Companies such as SoftBank, Thrive Capital, Khosla Ventures, and MGX are already involved.

OpenAI’s growing financial needs stem from the massive costs associated with developing AI systems like ChatGPT. The company is also exploring new revenue streams, including advertisements. This move is crucial to offset the increasing expenses tied to building and maintaining powerful AI models.

As OpenAI seeks massive funding, it is also considering the possibility of going public. The company has not set a timeline for an IPO but is evaluating its options. In addition to the funding talks, OpenAI is negotiating large-scale deals, such as the $38 billion agreement with Amazon Web Services.

These developments come as OpenAI explores new technologies, such as Amazon’s custom AI chips. This partnership could further cement Amazon’s dual play in the AI market, as it continues to invest in both OpenAI and its rival, Anthropic.

The post OpenAI Seeks $100 Billion in Funding, Amazon to Invest $50 Billion appeared first on Blockonomi.

TLDR

Copper is reportedly exploring the possibility of an initial public offering as institutional interest in cryptocurrency grows.

Major banks like Deutsche Bank, Goldman Sachs, and Citigroup are involved in Copper’s discussions about a potential IPO.

Copper offers institutional-grade custody, settlement, and collateral management services for digital assets.

The company has partnered with Cantor Fitzgerald and Coinbase to provide tailored solutions for institutional clients.

BitGo’s recent IPO highlights the growing role of cryptocurrency infrastructure companies in traditional financial markets.

Digital asset custodian Copper is reportedly considering an initial public offering (IPO) following BitGo’s recent debut on the New York Stock Exchange. The move signals increasing institutional interest in cryptocurrency infrastructure companies. Sources close to the discussions revealed that Copper is exploring its options, with major banks such as Deutsche Bank, Goldman Sachs, and Citigroup involved in the process.

Despite the ongoing discussions, Copper has declined to confirm whether it plans to pursue an IPO. A company spokesperson stated that the firm is not planning a public listing at this time. However, the spokesperson refrained from commenting on whether the custodian is in the early stages of talks regarding a potential IPO.

Copper’s Role in the Crypto Space

Copper provides institutional-grade services in custody, settlement, and collateral management for digital assets. The company aims to help financial institutions store and transfer digital assets securely, reducing counterparty risks. Backed by Barclays, Copper has built a reputation for offering tailored solutions to meet the needs of institutional clients.

@CopperHQ Group CEO Amar Kuchinad on what banks are lacking when it comes to technology, workflows and security if they want to embrace crypto.

The full interview is also available on my YouTube and podcast platforms.

YouTube: https://t.co/xjCnyvTydD
Spotify:… pic.twitter.com/yOqA7LCiyy

— Henri Arslanian (@HenriArslanian) January 21, 2026

The firm’s services have been crucial to growing institutional adoption of cryptocurrency. Last year, Cantor Fitzgerald selected Copper as one of its custodians for Bitcoin, alongside Anchorage Digital. Additionally, Copper partnered with Coinbase to facilitate off-exchange settlements for institutional clients, reinforcing its position in the market.

Rising Institutional Demand for Crypto Infrastructure

The increasing demand for cryptocurrency infrastructure reflects the growing institutional interest in digital assets. The landscape has changed significantly, driven by evolving regulations in the United States. Many financial institutions are now looking for secure ways to store and manage digital assets as they enter the market.

The potential IPO of Copper would follow BitGo’s recent market debut. BitGo priced its IPO at $18 per share and raised more than $200 million, although its stock has since seen volatility. The company’s IPO highlights the expanding role of digital asset firms in traditional financial markets.

Several other crypto companies are reportedly exploring public listings. Firms like Kraken, a major crypto exchange, and Ledger, a hardware wallet provider, are considering similar moves. As more digital asset companies pursue public markets, the sector continues to gain traction among investors.

The post Crypto Custodian Copper Looks Into IPO After BitGo’s Market Debut appeared first on Blockonomi.

简而言之：

恒生黄金ETF（03170.HK）推出了以以太坊代币化，早盘交易时间上涨了9%。

汇丰银行作为代币化代理，而实物黄金则存放在指定的香港金库中。

代币化单位需要合格的分销商进行认购；二级市场交易仍然受到限制。

此次推出与香港的战略一致，旨在将传统金融与受监管的区块链技术相结合。



恒生投资推出了一种实物支持的黄金交易所交易基金，采用以太坊的代币化股份类别。

摘要：

俄罗斯的加密货币监管法案将在 6 月底提交国家杜马投票，实施截止日期为 2027 年 7 月 1 日。

根据提议的框架，零售投资者必须通过资格测试，并面临每年 4,000 美元的购买上限。

中央银行将编制批准的加密货币名单，可能包括比特币、以太坊、Solana 和 Toncoin。

USDT 稳定币指定用于对外贸易，仅通过持牌经纪公司为公司提供。



俄罗斯在国家杜马准备于 6 月底投票通过全面监管框架之际，推进期待已久的加密货币立法。

简而言之

21Shares推出了Jito Staked SOL ETP，为欧洲投资者提供对Solana质押奖励的曝光。

JitoSOL ETP在阿姆斯特丹和巴黎的Euronext上市，美元代码为JSOL NA，欧元代码为JSOL FP。

该ETP为投资者提供了一种受控和透明的方式来访问JitoSOL，费用比率为0.99%。

JSOL使投资者能够同时受益于Solana的价格曝光和额外的质押激励。

21Shares旨在通过他们当前的经纪商简化机构和零售投资者对JitoSOL的访问。

总结：

在稳健的经济扩张趋势中，联邦储备维持当前的联邦基金利率目标区间

鲍威尔主席确认劳动市场在此前波动期后显示出稳定迹象

通货膨胀自2022年中期峰值显著回落，但仍高于目标水平

联邦公开市场委员会采取逐次会议的方法，没有为未来的货币政策决策设定预设路线



联邦储备系统继续通过其三层结构监督货币政策，同时保持联邦基金利率目标区间。

总结：

以太坊在定义的区间内以强制平衡交易，在高位卖出并在低位买入，且没有结构方向。

整合造成了低时间框架下的混乱条件，虚假的突破显著惩罚冲动交易者。

关键支撑位在$2,930附近，统计数据显示当前突破周低点的概率较低。

上行目标位于$3,070流动性区，需要在多个时间框架上首先确认市场结构的突破。

简而言之：

传统的四年加密周期不再主导市场表现，因为流动性流动取代了时间安排。

在极端集中下，山寨币的反弹从2024年的60天缩短至2025年的仅20天。

交易所交易基金（ETFs）和数字资产信托创建了封闭的市场，导致资本被困在主要加密货币中。

三个催化剂可能会扩大2026年的市场：更广泛的ETF授权、重大反弹或零售轮换。

 

根据最近的分析，加密货币市场的传统四年周期似乎正在结束。2025年未能产生之前周期所带来的预期反弹。

TLDR:

Sony Innovation Fund leads Series A with $13M, lifting Startale’s disclosed funding to $20M total.

Soneium Layer 2 shows traction with 500M+ transactions, 5.4M wallets, and 250+ dApps since January 2025 launch.

Funding accelerates creator-centric, onchain entertainment using AI, IP, and Ethereum L2 rails at global scale.

Sony–Startale partnership deepens via Block Solutions Labs, backing vertical blockchain stacks.

 

Sony Innovation Fund has committed an additional $13 million to Startale Group, the co-developer of the Soneium blockchain platform. This investment represents the first tranche of Startale’s Series A funding round.

The capital injection brings Startale’s total disclosed funding to $20 million, following a $3.5 million seed round from Sony in 2023 and a $3.5 million seed extension from UOB Venture Management and Samsung Next in 2024.

Partnership Expansion Drives Infrastructure Development

The latest funding deepens the collaboration between Sony and Startale Group, which began over a year ago. Sony Block Solutions Labs Pte. Ltd., the joint venture behind Soneium, serves as the operational foundation for this partnership.

The continued investment signals Sony’s confidence in Startale’s execution capabilities and strategic vision for blockchain infrastructure.

Soneium has achieved notable growth since its mainnet launch in January 2025. The Ethereum Layer 2 network has processed over 500 million transactions and attracted 5.4 million active wallets.

More than 250 decentralized applications currently operate on the platform, establishing Soneium as a prominent player in the Layer 2 ecosystem.

The Startale App functions as the primary access point to Soneium’s ecosystem. It integrates wallet functionality with asset management and application access. Startale USD (USDSC) provides a unified settlement layer that connects applications, users, and payment systems across the network.

Startale Group announced the investment through its official social media channels, stating that Sony Innovation Fund’s follow-on investment reinforces “the long-term shared vision between Sony and Startale to build infrastructure for onchain entertainment.”

The company added that Startale will continue strengthening Soneium as “a creator-centric platform for creator-led value and participatory fan experiences in the AI era.”

Startale Group is proud to announce a $13M follow-on investment from Sony Innovation Fund, reinforcing the long-term shared vision between @Sony and Startale to build infrastructure for onchain entertainment. pic.twitter.com/BNsHhUqxm7

— Startale (@StartaleGroup) January 29, 2026

Entertainment and AI Integration Shape Future Direction

The partnership addresses evolving challenges in the entertainment industry as generative AI transforms content creation and distribution.

Sony’s entertainment and technology expertise combines with Startale’s blockchain infrastructure capabilities. This collaboration aims to develop new models for intellectual property-led platforms and creator-centric monetization.

Sota Watanabe, CEO of Startale Group, emphasized the strategic nature of the relationship. “Startale has been an important partner to Sony since the early days of Soneium,” Watanabe said.

He explained that their vision is “to bring the world on-chain, and Sony’s continued support strengthens our ability to deliver the infrastructure required to realize that vision at global scale.”

Kazuhito Hadano, CEO of Sony Ventures Corporation, described Startale’s comprehensive approach to blockchain development. “Startale is a company working across the blockchain space, from infrastructure to applications,” Hadano noted.

He highlighted the team’s global perspective and focus on “enabling new value flows built on on-chain technologies,” adding that Sony looks forward to “continuing to support Startale’s challenges and ambitions going forward.”

The funding will support Startale’s vertically integrated approach to on-chain infrastructure development. This includes expanding Soneium’s capabilities and enhancing the ecosystem’s application layer.

The partnership demonstrates institutional commitment to building entertainment-native blockchain platforms that bridge traditional media and decentralized technologies.

The post Sony Innovation Fund Invests $13 Million in Startale Group to Advance Soneium Blockchain appeared first on Blockonomi.

TLDR

Joby Aviation (JOBY) 股票在盘前交易中下跌了 9.1%，此前公司宣布了一项超出预期的 12 亿美元融资。

公司正在出售价值 6 亿美元的可转换票据，利率为 0.75%，以及价值 6 亿美元的股票，每股价格为 11.35 美元。

收益将用于资助认证工作，目标是到 2026 年中期在中东地区和到 2026 年底在美国完成。

可转换票据的转换价为每股 14.19 美元，溢价 25%，并设有限制稀释的 capped call 交易，价格为 22.70 美元。

分析师预测到 2029 年销售额将达到 12 亿美元，但只有 18% 的分析师推荐购买该股票。

TLDR

MP Materials (MP) dropped over 8% in pre-market trading Thursday after Reuters reported the Trump administration withdrew minimum price guarantees for critical minerals.

MP Materials rejected the report as “inaccurate and misleading,” confirming its Department of War contract and Price Protection Agreement remain fully active.

The stock experienced sharp swings this week, falling 10% Monday after rival USA Rare Earth received government funding before recovering Tuesday.

Analysts rate MP stock a Strong Buy with a $76.13 average price target, representing 13.6% potential upside.

MP Materials runs the only large-scale rare earth mining facility in North America and is building a new Texas manufacturing plant.

MP Materials stock dropped more than 8% in pre-market trading Thursday. A Reuters article claimed the Trump administration backed away from guaranteeing minimum prices for critical minerals projects.

The company fired back quickly. MP Materials labeled the report “inaccurate, misleading, and inconsistent with the facts.”

The rare earth producer said its binding contract with the U.S. Department of War stays in full effect. The Price Protection Agreement from last year also remains unchanged.

MP Materials stated nothing about its contract has been modified. The government’s obligations under the deal haven’t changed either.

Turbulent Trading Week

This week has tested investor nerves. Shares crashed over 10% Monday after the government granted major funding to competitor USA Rare Earth.

Markets worried that a well-funded rival could damage MP’s prospects. But Tuesday brought a reversal as investors reconsidered the situation.

The stock bounced back when traders realized demand can support multiple North American suppliers. Defense contracts and clean energy needs continue driving rare earth demand.

MP Materials holds the top position as America’s rare earth producer. The company runs the Mountain Pass facility in California, the only large-scale rare earth operation in North America.

A new manufacturing facility in Fort Worth, Texas is under development. This expansion aims to create rare earth metals, alloys, and magnets domestically.

What Reuters Got Wrong

The Reuters piece cited funding limits and pricing challenges as reasons for the policy change. A minimum price guarantee would shield revenue when rare earth prices drop.

Losing this potential protection adds uncertainty about future price support. But the reported policy shift doesn’t touch MP’s current contracts or operations.

The company operates independently of any speculated policy changes. Its existing agreements provide the framework for ongoing business.

Financial Metrics and Analyst Views

MP Materials carries an $11.88 billion market cap. Trailing twelve-month sales reached $232.74 million.

The financial snapshot shows mixed results. Revenue fell 11.8% over three years while margins remain negative.

Operating margin sits at negative 79.53%. Net margin stands at negative 50.55%.

Liquidity tells a better story. The current ratio of 8.05 and quick ratio of 7.51 show strong short-term financial position.

The Altman Z-Score of 4.48 indicates solid overall financial health. Institutional investors own 72.35% of shares, showing significant institutional confidence.

TipRanks reports analysts maintain a Strong Buy consensus. Eleven Buy ratings came in during the last three months.

The average analyst price target hits $76.13. That implies 13.6% upside from current trading levels.

Long-term demand drivers remain intact. Defense spending, electric vehicle production, and renewable energy projects all require rare earth materials.

The company’s monopoly on large-scale North American rare earth production provides strategic value. The Texas facility expansion could strengthen this position further when completed.

The post MP Materials (MP) Stock Drops as Company Slams “Misleading” Price Protection Report appeared first on Blockonomi.

简要

SAP 股票在周四下跌 11%，因为第四季度云订单积压增长了 25%，未能达到华尔街 26% 的预期

此次下跌是自 2020 年 10 月以来 SAP 最大的单日跌幅，当时股票下跌了 22%

管理层警告，云订单积压的增长将在 2026 年“略微放缓”，这增加了投资者的担忧

第四季度业绩显示，云收入增长 26%，达到 56.1 亿欧元，总收入增长 9%，达到 96.8 亿欧元

SAP 启动了一项 100 亿欧元的股票回购计划，计划于 2026 年 2 月开始，2027 年 12 月结束

TLDR

Microsoft spent $37.5 billion on AI infrastructure in Q2, with most going to chips

Meta projects $135 billion in 2026 capex, doubling last year’s investment

Both companies say AI demand outpaces their computing supply

China greenlit Nvidia H200 chip sales to ByteDance, Alibaba, and Tencent

Nvidia stock hit highest close since early November

Nvidia shares reached their highest closing price since early November on Wednesday. The stock dipped 0.7% after hours but continues trading near recent highs.

The rally comes as major technology companies announce bigger-than-expected AI spending plans. Microsoft and Meta both revealed investments that caught Wall Street off guard.

Microsoft’s fiscal second quarter capital expenditures totaled $37.5 billion. That beat the Street’s $36.7 billion estimate. Roughly two-thirds went toward purchasing chips.

CFO Amy Hood explained that AI hardware shortages continue limiting cloud business growth. The company uses its in-house Maia 200 chip alongside processors from Nvidia and AMD.

CEO Satya Nadella stressed flexibility in the company’s chip strategy. “We want to make sure we’re not locked into any one thing,” he said during the earnings call.

Meta Goes All-In on AI Capacity

Meta Platforms announced even larger plans for 2026. The social media giant expects to spend up to $135 billion this year. That’s 20% above analyst expectations and twice what it spent in 2025.

CFO Susan Li described a significant capacity gap. “Demands for compute resources across the company have increased even faster than our supply,” she told analysts.

The company plans to add capacity throughout the year. But Li warned constraints will persist through most of 2026. Meta’s own data center facilities won’t contribute meaningfully until late in the year.

China Opens Door for H200 Sales

Nvidia scored a win in China on Wednesday. Reuters reported Chinese authorities approved H200 chip sales to major domestic tech firms.

ByteDance, Alibaba, and Tencent can now purchase the advanced system. This reverses earlier pressure for companies to buy Chinese-made alternatives.

The U.S. had authorized these sales earlier in 2026. But Chinese regulatory approval remained uncertain until this week. Nvidia previously estimated China export restrictions cost $8 billion in lost revenue.

Broader Chip Sector Momentum

Other semiconductor companies posted strong results Wednesday. ASML reported fourth-quarter earnings and orders that topped expectations. The Dutch firm’s 2026 sales guidance also exceeded forecasts.

SK Hynix shares jumped over 5% after announcing record 2025 profits. The VanEck Semiconductor ETF climbed 1.9%.

Nvidia shares gained approximately 1.6% in premarket trading. The moves reflect growing confidence that AI chip demand will remain robust as tech giants race to expand computing power.

The post Nvidia (NVDA) Stock Gains as Big Tech Spending Spree Fuels Chip Demand appeared first on Blockonomi.

TLDR

Microsoft posted $4.14 per share earnings on $81.3 billion revenue, topping analyst estimates but shares fell 6.8% after hours

Azure cloud revenue increased 39% year-over-year but represented a slowdown from the prior quarter’s 40% growth

Capital expenditures reached $37.5 billion for AI infrastructure, up 66% from last year and above expectations

The company revealed 15 million annual subscribers for its M365 Copilot AI assistant priced at $30 per month

OpenAI accounts for 45% of Microsoft’s $625 billion commercial backlog, raising questions about partner dependency

Microsoft exceeded Wall Street expectations Wednesday but watched its stock tumble in extended trading. The company reported adjusted earnings of $4.14 per share with revenue of $81.3 billion for its fiscal second quarter.

$MSFT (Microsoft) #earnings are out: pic.twitter.com/ZAgSBQ9qHd

— The Earnings Correspondent (@earnings_guy) January 28, 2026

Analysts had forecast $3.91 per share on $80.3 billion in revenue. Despite clearing these hurdles, shares dropped 6.8% after hours. The disconnect between strong results and negative reaction centers on cloud growth trends and AI spending levels.

Azure cloud platform revenue grew 39% during the October-December period. While this beat the 37.8% analyst estimate, it marked a deceleration from last quarter’s 40% pace. Investors are watching Azure closely as Microsoft’s primary growth engine.

CFO Amy Hood projected third-quarter Azure growth between 37% and 38% in constant currency. This guidance fell roughly in line with the 37.6% Wall Street estimate but signals continued slowdown. The company also forecast overall revenue with a midpoint of $81.2 billion, matching consensus.

Record AI Spending Raises Eyebrows

Microsoft spent $37.5 billion on capital expenditures during the quarter. This represents a 66% jump year-over-year. About two-thirds went toward computing chips and AI infrastructure.

The spending exceeded analyst predictions of $34.31 billion by over $3 billion. Some investors questioned whether the massive outlays will generate adequate returns. Revenue grew 17% while cost of revenue increased 19%, a trend that sparked concern.

CEO Satya Nadella disclosed that M365 Copilot now has 15 million annual users. The $30 monthly AI assistant represents Microsoft’s flagship AI product for businesses. This marked the first time the company shared specific user metrics for the tool.

OpenAI Relationship Under Scrutiny

The OpenAI partnership produced mixed results. Microsoft’s “Other” segment swung to $10 billion income from a $2.3 billion loss last year. The change stems from how Microsoft accounts for its 27% stake following OpenAI’s restructuring.

Commercial remaining performance obligations hit $625 billion, up 110% year-over-year. However, OpenAI alone drove 45% of this backlog. The AI startup has pledged to spend at least $281 billion with Microsoft over time.

Excluding OpenAI, cloud backlog grew 28%. This figure includes a $30 billion deal with Anthropic. The heavy reliance on OpenAI concerned some analysts as competition intensifies from Google’s Gemini and other AI models.

Google recently won Apple as a major customer for its AI technology. This challenges Microsoft’s early mover advantage in artificial intelligence. The company has invested over $200 billion in AI since fiscal 2024 began.

Hood said capital spending will decline slightly in the current quarter. She warned that rising memory chip costs will pressure cloud margins over time. Total quarterly revenue rose 17% to $81.3 billion, ahead of the $80.27 billion estimate.

The post Microsoft (MSFT) Stock: Why Wall Street Sold After a Solid Earnings Beat appeared first on Blockonomi.

TLDR

阿里巴巴的菜鸟物流部门正在将其自动驾驶技术部门与Zelos科技合并，此交易价值20亿美元

合并后的业务将以菜鸟Robovan品牌运营，并管理超过20,000辆自主配送车辆

阿里巴巴通过其T-Head部门推出了Zhenwu 810E处理器，旨在与英伟达的数据中心芯片竞争

Zelos自2021年成立以来专注于邮政服务、消费品和快递物流的自主配送

TLDR

Meta delivered Q4 earnings of $8.88 per share on $59.9 billion revenue, surpassing analyst estimates

Stock price jumped over 10% in after-hours trading following the earnings announcement

Company plans AI infrastructure spending of $115-$135 billion in 2026, nearly double 2025 levels

Meta’s apps drew 3.58 billion daily active users during the quarter

Reality Labs unit posted $6 billion in losses against $955 million revenue

Meta reported fourth quarter results Wednesday that beat Wall Street predictions. The social media company posted earnings of $8.88 per share on revenue of $59.9 billion.

JUST IN: $META REPORTED EARNINGS

EPS of $8.88 beating expectations of $8.19
Revenue of $59.9B beating expectations of $58.5B

Meta said it expects to spend between $115B-$135B on Capital Expenditures (CAPEX) in 2026 above expectations of $111B pic.twitter.com/qogRc7p6cT

— Evan (@StockMKTNewz) January 28, 2026

Analysts had projected earnings of $8.16 per share and revenue of $58.4 billion. The company generated $22.8 billion in profit during the quarter.

Share price climbed more than 10% in extended trading. Investors responded positively to the financial performance and forward guidance.

Meta expects current quarter revenue could reach $56.5 billion. The company’s apps attracted 3.58 billion daily users worldwide.

CEO Mark Zuckerberg described 2025 as a year of strong performance. Operating expenses increased 40% year-over-year to $35.15 billion.

Record AI Spending Plans Announced

Meta outlined plans to spend between $115 billion and $135 billion on capital expenditures in 2026. That compares to $72.22 billion spent throughout 2025.

The investment will fund AI infrastructure including data centers and computing systems. Fourth quarter capital spending alone reached $22.14 billion.

Meta joins Amazon, Google, and Microsoft in a race to build AI capabilities. The company recently acquired 49% of Scale AI for $14.3 billion.

Scale AI CEO Alexandr Wang joined Meta as chief AI officer. He now leads Meta Superintelligence Labs.

Zuckerberg stated he looks forward to advancing personal superintelligence globally in 2026. The company views AI as central to future revenue growth.

Reality Labs Losses Continue

The Reality Labs division brought in $955 million in revenue but lost $6 billion. Analysts had expected a $5.9 billion operating loss.

Meta’s virtual and augmented reality unit has consistently posted losses. The company recently reduced headcount in its metaverse operations.

Some savings will redirect toward wearables including AI-powered smart glasses. Meta partnered with EssilorLuxottica on Ray-Ban smart glasses.

Zuckerberg predicts smart glasses will become the next major computing platform. He believes they could eventually replace smartphones entirely.

Analysts see potential for improved advertising efficiency through wearables technology. However, profitability remains years away.

AI Development Faces Challenges

Meta encountered delays with its Llama 4 Behemoth AI model. The company may switch to a proprietary model for its next release.

That would abandon the open-weights strategy allowing third-party developers access. CNBC reported Meta is considering this strategic shift.

Google’s Gemini 3 model currently leads the AI race. The search giant has moved ahead of both Meta and OpenAI.

Meta started 2025 as a frontrunner but faces increased competition. The company spent $14.3 billion bringing Wang aboard to accelerate AI development.

A landmark trial accusing Meta of addicting young users to social media began in Los Angeles. The case involves allegations of mental health harm to a 19-year-old woman.

Zuckerberg will testify during the proceedings. ByteDance and Snap settled before trial, leaving Meta and YouTube as defendants.

The FTC announced it will appeal its antitrust case loss against Meta last week. The case alleged Meta purchased Instagram and WhatsApp to eliminate competition.

Australia implemented a social media ban for users under 16. France is considering similar legislation targeting youth social media access.

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