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Crypto

Strive buys bitcoin for 9 straight trading days, funding structure put to test

Asset manager Strive has bought bitcoin for nine straight trading days using funds raised by issuing SATA preferred shares. It most recently bought 104 BTC on Sept. 1, Cryptopolitan reported. The buying comes as corporate bitcoin purchases have generally slowed. Strive said SATA pays dividends every business day with an annual dividend rate of 13.00 percent. Analysts warned the cycle depends on market confidence, while the company reported a second-quarter GAAP net loss of $257.6 million.

Industry

Nvidia Q2 net profit $59.7 billion, up 126 percent year on year

Nvidia posted fiscal 2027 second-quarter revenue of $96.2 billion and net profit of $59.7 billion, beating market expectations. Revenue rose 106 percent and net profit gained 126 percent from a year earlier, while gross margin increased to 75 percent. Data center revenue climbed to $89.0 billion, above a Bloomberg-compiled estimate. Nvidia forecast next-quarter revenue of $108.0 billion, plus or minus 2 percent, and said the outlook excludes China data center computing revenue.

AI & Enterprise

UBS reaffirms bullish view on Micron on HBM4 and AI demand

UBS has reaffirmed its buy rating on Micron Technology and kept its $1,625 price target, about 67 percent above the stock’s early trading price on Aug. 18. UBS argues that rising AI data centre demand, especially for HBM and high-performance server memory, could soften the memory industry’s boom-bust supply cycle. It also points to expanded long-term supply contracts and strong recent results and guidance, while warning the cycle could return if investment overshoots demand.