JPMorgan sees $IREN becoming a 2,065 MW business generating ~$24B of revenue with 65% EBITDA margins by 2030. Whats really interesting is the pricing assumption because JPMorgan only models ~$13M per MW by FY30 while IREN is already around ~$11M today and management is discussing contracts closer to ~$25M. So if we use the ~$25M on same 2,065 MW base then that would imply $50B+ of revenue before any additional capacity upside.

JPMorgan ranks $META Muse #1# on Assistant Benchmark at 9.3 with perfect scores in purchasing, email, routines and connected apps. Those are exactly the tasks that turn an assistant into an agent and Muse responds in ~7 seconds versus ~38 seconds for peers. The scores cluster exactly where money changes hands which is why I still think subs are the easy monetization layer while commerce through $SHOP, $PYPL, $WMT, $CART and Stripe is the much bigger opportunity.

JPMorgan is in talks to lead a massive financing for Extell Development’s plan to build condominiums on Manhattan’s Upper West Side at a site that once served as the headquarters of the ABC television network.

JPMorgan upgrades CoreWeave $CRWV to Overweight with a $125 PT. Stronger pricing, with July rates up 25%, short-term compute priced at ~3x long-term contracts, and recent deals signed near ~$40M/MW. JPM says pricing and margins should more than offset rising debt.

JPMorgan upgraded $CRWV to Overweight with a $125 PT as July pricing rose 25%, short-term compute is pricing at ~3x long-term rates & recent contracts were signed at ~$40M/MW. The firm says “pricing & margins will overwhelm the increase in debt” as CoreWeave scales capacity.