Latest news with #FIIPrioritySummit
Saudi Gazette
18-05-2025
- Business
- Saudi Gazette
PIF chief warns Europe over 'outrageous' sustainability rules
Saudi Gazette report TIRANA, Albania — The Governor of Saudi Arabia's Public Investment Fund (PIF), Yasir Al-Rumayyan, called the EU's upcoming sustainability regulations 'outrageous' and cited a regulatory decision in Switzerland that impacted PIF's investment in Credit Suisse as a major warning sign for future investment. Speaking at the FII Priority Summit in Tirana on Saturday, Al-Rumayyan warned that the European Union's sustainability rules — which include more than 1,000 compliance metrics — are creating an environment of risk and uncertainty for global investors. He cautioned that the new regulations, set to take effect in 2028 after a two-year delay, could lead to disinvestment from the region. 'The regulation is saying if you're not compliant, you will be penalized not only for your operation in Europe, but you will be penalized on the parent company — 5% of your top line,' he said. 'This is really outrageous for a lot of investors.' He criticized the scope and retroactive nature of the rules, arguing that the lack of predictability is the 'biggest single inhibitor' to both public and private sector financing in suggested that such regulatory frameworks might push businesses to relocate operations outside the a specific case, he pointed to PIF's investment in Credit Suisse, where a sudden change in Swiss regulations effectively wiped out the fund's position.'We owned about 5% of Credit Suisse. Overnight, the Swiss regulator changed the law — 150 years of rule of law was changed overnight. And they wiped out all investors,' he said. 'This is a big red flag.'He added that such abrupt regulatory shifts undermine investor confidence and damage Europe's reputation as a stable destination for the criticisms, Al-Rumayyan emphasized PIF's deep engagement with Europe over the past seven years. Since 2017, the fund has deployed $85 billion in investments and procurement across the EU, with plans to increase that figure to $170 billion by 2030.'Our impact on EU GDP currently stands at $52 billion,' he said. 'By 2030, this will grow to $105 billion. Through these investments, we've created about 254,000 direct and indirect jobs.'He concluded with a call for European leaders to foster a more stable and welcoming business environment.'We want to continue investing here. But we need clarity. We need consistency. The way forward is to pave the way for investors and businesses to come in, grow, and maintain their current investments.'
New York Post
28-04-2025
- Business
- New York Post
MoonPay to put down roots in NYC with new US headquarters — leading to predicted crypto real estate boom
Crypto continues to stake its claim in the financial capital of the world. MoonPay, the global leader in crypto payments, is opening a new 5,000-plus square-foot U.S. headquarters in SoHo, NYNext can exclusively report. With the move, the company becomes the latest digital currency firm to expand its presence in NYC. 4 MoonPay's new headquarters is a 5,000-plus square-foot space in Manhattan's SoHo neighborhood. It is the company's largest U.S. office to date and will serve as a central hub for its growing U.S. workforce. MoonPay Advertisement 'As the crypto landscape continues to evolve, New York stands out as a beacon of opportunity that blends regulatory progress, a dynamic business environment and an unparalleled talent pool,' Keith A. Grossman, President of Enterprise at MoonPay and a lifelong New Yorker, told NY Next. The confluence of those factors — further emboldened by President Trump's deregulation efforts — means that even more digital asset companies are likely to set down roots in the city in the coming months and years. 'The crypto industry is playing a pivotal role in driving New York City's economic growth — serving as an engine for job creation, accelerating innovation, and attracting investment,' Grossman said. 'With over 130 crypto firms operating in the city, New York is further cemented as a global financial capital and a leading hub for fintech transformation.' Advertisement It's a marked shift from a decade ago. Crypto firms vehemently avoided New York after BitLicense — which imposed strict regulations on businesses' abilities to buy, sell, transmit and store crypto — went into effect in 2015. 4 The MoonPay app allows users to easily buy, sell and transfer cryptocurrencies and NFTs using traditional payment methods like credit cards, Apple Pay and bank transfers. @crownmax/X While the licenses were meant to protect consumers, many firms saw the framework as overly burdensome and headed to more hospitable cities. When MoonPay launched in 2019, its founders opted to base the company in Miami. Advertisement The tides in New York began to shift around the turn of the decade. Mayor Eric Adams, elected in 2021, has openly embraced crypto,saying he wanted to make NYC the 'center of bitcoins.' Though the BitLicense framework remains firm, his administration has focused the conversation on innovation and economic opportunity, rather than compliance and consumer protection. 4 MoonPay CEO Ivan Soto-Wright speaks during the FII Priority Summit in Miami Beach, Florida. Soto-Wright has played an active role in shaping crypto regulation, joining policymakers at the CFTC's Crypto CEO Forum and advocating in Congress for state-level innovation on stablecoins. AFP via Getty Images As a result, in the past several years, major firms including Coinbase, Gemini, Consensys, and Chainalysis have entered or expanded their New York City footprints. Advertisement 'It's an ideal hub for companies like MoonPay to scale and help shape the future of crypto innovation in the U.S,' Grossman said. 4 U.S. President Donald Trump (L) shakes hands with Paul Atkins, newly sworn-in as Chairman of the Securities and Exchange Commission (SEC), in the Oval Office of the White House. Under Atkins, the SEC has dropped legal proceedings against major cryptocurrency platforms like Coinbase and Kraken that were initiated during former president Joe Biden's term. AFP via Getty Images Earlier this year, MoonPay CEO Ivan Soto-Wright joined executives from Coinbase, Ripple, and Circle at the Commodity Futures Trading Commission's Crypto CEO Forum in Washington, DC, to hash out the next chapter of federal crypto oversight. Then, in mid-April, Soto-Wright penned a letter to Congress supporting amendments to the STABLE and GENIUS Acts, backing state-level regulation for stablecoin issuers and warning against legislation that could sideline local innovators. Crypto markets have soared during Donald Trump's first months in office. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). After having its best year ever in 2024, MoonPay saw its transaction volume increase 123% and net revenue jump nearly 50% in the first quarter of 2025. Advertisement Grossman told NY Next, 'We could not be more thrilled to establish our U.S. headquarters in this great city as our country continues to establish more clarity surrounding regulatory, legislative, banking and accounting activity within the crypto ecosystem. Send NYNext a tip: nynextlydia@
Yahoo
27-04-2025
- Business
- Yahoo
Adobe Inc. (ADBE): Among Billionaire Steve Cohen's Large-Cap Stock Picks With Huge Upside Potential
We recently published a list of . In this article, we are going to take a look at where Adobe Inc. (NASDAQ:ADBE) stands against other billionaire Steve Cohen's large-cap stock picks with huge upside potential. What does the future hold for the US economy and equities amid punitive tariffs, immigration crackdown and federal spending cuts? That's the million-dollar question as the chairman and CEO of hedge fund Point72 Asset Management, Steve Cohen, sounds alarm bells warning the US economy could be on the brink amid macroeconomic uncertainties. The billionaire investor has fired a warning shots, insisting that President Donald Trump's aggressive trade policy could cause the economy to grow at a much slower rate of 1.5% in the second half of the year, down from an initial growth forecast of 2.5%. The warning comes on Trump touting tariffs for various purposes, including lowering trade imbalances and gaining more negotiating power over other nations. Nevertheless, their negative impact continues as the service sector, a key economic driver, grows slowly from 2023. READ ALSO: Billionaire Prem Watsa's 10 Stock Picks With Highest Potential and 15 Recent Activist Investor Campaigns. 'Tariffs cannot be positive, okay? I mean, it's a tax,' Cohen said Friday at the FII Priority Summit in Miami Beach, Florida. 'On top of that, we have slowing immigration, which means the labor force will not grow as rapidly as … the last five years and so.' Cohen has warned that the good times that saw the equity market trickle to record highs are over as the US economy's outlook is uncertain due to the tariff plan laid out by Trump. True to Cohen's warnings, the US stock market has pulled back significantly from record highs. Given the uncertain macro environment, the S&P 500 is already down by about 8% for the year and on the cusp of entering the correcting phase. Echoing similar sentiments is Morgan Stanley CIO Mike Wilson, who insists a significant correction has been on the cards since 2023. According to Wilson, investors had pushed stocks upwards, with valuation skyrocketing above historical norms and beyond the value of their fundamentals. Therefore, a rapid descent should be expected as headwinds soar left, right and centre. 'I'm actually pretty negative for the first time in a while,' Cohen said. 'It may only last a year or so, but it's definitely a period where I think the best gains have been had and wouldn't surprise me to see a significant correction.' On the other hand, Cohen remains optimistic about the artificial intelligence outlook despite DeepSeek's revelation and development on the development of cost-effective AI models rattling the US markets. According to Cohen, DeepSeek's development of cost-effective AI models is positive despite raising concerns about spending on powerful AI chips developed by US companies. Cohen is one of the billionaire investors taking advantage of the artificial intelligence boom through strategic investments. His portfolio at Point72 Asset Management hedge boasts significant exposure to tech giants developing and leveraging various AI innovations. Likewise, Point72 Asset Management has already unveiled a new artificial intelligence-focused fund that posted a 14% gain in the last three months of 2024 growing to $1.5 billion. We combed Point 72 SEC Q4 2024 13F filings to identify billionaire Steve Cohen's 10 large-cap stock picks with huge upside potential. We focused on stocks with a market cap of more than $40 billion with significant upside potential. We then analyzed the stocks on why they stand out as solid investments well poised to generate significant value even on the overall equity market turning bearish. Finally, we listed the stocks in ascending order of upside potential. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Steven Cohen of Point72 Asset Management Adobe Inc. (NASDAQ:ADBE) is a technology company that develops and sells software and online services for creative tasks, document management, and digital marketing. It is best known for its Creative Cloud suite, which includes tools like Photoshop, Illustrator, and InDesign for graphic design. It is one of the companies that capitalize on artificial intelligence to strengthen its solutions. While AI business accounted for $125 million of $4.23 billion generated in Q1 2025, it is expected to be a key growth driver. Adobe Inc. (NASDAQ:ADBE) expects revenues in the AI book of business to more than double in 2025, going by the investments it is making. It has already expanded its AI portfolio with Adobe GenStudio and Firefly Services. The company is increasingly monetizing standalone subscriptions in Firefly by introducing various creative cloud offerings. It also plans to invest in its sales capacity as it seeks to strengthen its AI streams. Adobe Inc. (NASDAQ:ADBE) has already acquired significant stakes in Synthesia, an AI startup serving over 70% of Fortune 100 companies. The startup offers a platform that helps businesses develop videos with AI-generated lifelike avatars. The company has also inked a strategic partnership with the NFL to enhance fan experience using AI technology. Even as Adobe capitalizes on the artificial intelligence boom, RBC Capital has cut the stock's price target to $480 from $530 while maintaining an Outperform rating setting and competitive pressure in the generative content tool sector. Overall, ADBE ranks 4th on our list of billionaire Steve Cohen's large-cap stock picks with huge upside potential. While we acknowledge the potential of ADBE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ADBE but that trades at less than 5 times its earnings check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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Yahoo
27-04-2025
- Business
- Yahoo
NVIDIA Corporation (NVDA): Among Billionaire Steve Cohen's Large-Cap Stock Picks With Huge Upside Potential
We recently published a list of . In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other billionaire Steve Cohen's large-cap stock picks with huge upside potential. What does the future hold for the US economy and equities amid punitive tariffs, immigration crackdown and federal spending cuts? That's the million-dollar question as the chairman and CEO of hedge fund Point72 Asset Management, Steve Cohen, sounds alarm bells warning the US economy could be on the brink amid macroeconomic uncertainties. The billionaire investor has fired a warning shots, insisting that President Donald Trump's aggressive trade policy could cause the economy to grow at a much slower rate of 1.5% in the second half of the year, down from an initial growth forecast of 2.5%. The warning comes on Trump touting tariffs for various purposes, including lowering trade imbalances and gaining more negotiating power over other nations. Nevertheless, their negative impact continues as the service sector, a key economic driver, grows slowly from 2023. READ ALSO: Billionaire Prem Watsa's 10 Stock Picks With Highest Potential and 15 Recent Activist Investor Campaigns. 'Tariffs cannot be positive, okay? I mean, it's a tax,' Cohen said Friday at the FII Priority Summit in Miami Beach, Florida. 'On top of that, we have slowing immigration, which means the labor force will not grow as rapidly as … the last five years and so.' Cohen has warned that the good times that saw the equity market trickle to record highs are over as the US economy's outlook is uncertain due to the tariff plan laid out by Trump. True to Cohen's warnings, the US stock market has pulled back significantly from record highs. Given the uncertain macro environment, the S&P 500 is already down by about 8% for the year and on the cusp of entering the correcting phase. Echoing similar sentiments is Morgan Stanley CIO Mike Wilson, who insists a significant correction has been on the cards since 2023. According to Wilson, investors had pushed stocks upwards, with valuation skyrocketing above historical norms and beyond the value of their fundamentals. Therefore, a rapid descent should be expected as headwinds soar left, right and centre. 'I'm actually pretty negative for the first time in a while,' Cohen said. 'It may only last a year or so, but it's definitely a period where I think the best gains have been had and wouldn't surprise me to see a significant correction.' On the other hand, Cohen remains optimistic about the artificial intelligence outlook despite DeepSeek's revelation and development on the development of cost-effective AI models rattling the US markets. According to Cohen, DeepSeek's development of cost-effective AI models is positive despite raising concerns about spending on powerful AI chips developed by US companies. Cohen is one of the billionaire investors taking advantage of the artificial intelligence boom through strategic investments. His portfolio at Point72 Asset Management hedge boasts significant exposure to tech giants developing and leveraging various AI innovations. Likewise, Point72 Asset Management has already unveiled a new artificial intelligence-focused fund that posted a 14% gain in the last three months of 2024 growing to $1.5 billion. We combed Point 72 SEC Q4 2024 13F filings to identify billionaire Steve Cohen's 10 large-cap stock picks with huge upside potential. We focused on stocks with a market cap of more than $40 billion with significant upside potential. We then analyzed the stocks on why they stand out as solid investments well poised to generate significant value even on the overall equity market turning bearish. Finally, we listed the stocks in ascending order of upside potential. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Steven Cohen of Point72 Asset Management NVIDIA Corporation (NASDAQ:NVDA) is a technology company that designs and develops the most advanced chip systems and software for artificial intelligence. It also provides graphics computing and networking solutions for data centre computing platforms and end-to-end networking platforms. NVIDIA Corporation (NASDAQ:NVDA) has been under pressure as the company remains the subject of trade tariffs and export control curbs. Likewise, analysts at Citi have lowered their stock price target to $163 from $150, concerned by a slowdown in data center spending in the US. Rising competition in the AI chip market and a significant increase in manufacturing costs due to trade wars are other headwinds. Management has already reiterated that new US controls on exports of artificial intelligence chips will cost the company about $5.5 billion. The US government has already informed the company that it will bid for a special license to export its H20 chips made specifically for Chinese markets. Since 2022, NVIDIA Corporation (NASDAQ:NVDA) has produced a number of specific chips for Chinese clients, including the A800, H800 and the H800's successor. The company has had to develop Chinese-specific chips to adhere to US regulations that seek to limit China's access to hardware required for AI innovation. The focus on China does not come as a surprise, as the Chinese market accounted for 13% or $17 billion of Nvidia's revenue in its fiscal year 2025. Overall, NVDA ranks 1st on our list of billionaire Steve Cohen's large-cap stock picks with huge upside potential. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
27-04-2025
- Business
- Yahoo
Snowflake Inc. (SNOW): Among Billionaire Steve Cohen's Large-Cap Stock Picks With Huge Upside Potential
We recently published a list of . In this article, we are going to take a look at where Snowflake Inc. (NYSE:SNOW) stands against other billionaire Steve Cohen's large-cap stock picks with huge upside potential. What does the future hold for the US economy and equities amid punitive tariffs, immigration crackdown and federal spending cuts? That's the million-dollar question as the chairman and CEO of hedge fund Point72 Asset Management, Steve Cohen, sounds alarm bells warning the US economy could be on the brink amid macroeconomic uncertainties. The billionaire investor has fired a warning shots, insisting that President Donald Trump's aggressive trade policy could cause the economy to grow at a much slower rate of 1.5% in the second half of the year, down from an initial growth forecast of 2.5%. The warning comes on Trump touting tariffs for various purposes, including lowering trade imbalances and gaining more negotiating power over other nations. Nevertheless, their negative impact continues as the service sector, a key economic driver, grows slowly from 2023. READ ALSO: Billionaire Prem Watsa's 10 Stock Picks With Highest Potential and 15 Recent Activist Investor Campaigns. 'Tariffs cannot be positive, okay? I mean, it's a tax,' Cohen said Friday at the FII Priority Summit in Miami Beach, Florida. 'On top of that, we have slowing immigration, which means the labor force will not grow as rapidly as … the last five years and so.' Cohen has warned that the good times that saw the equity market trickle to record highs are over as the US economy's outlook is uncertain due to the tariff plan laid out by Trump. True to Cohen's warnings, the US stock market has pulled back significantly from record highs. Given the uncertain macro environment, the S&P 500 is already down by about 8% for the year and on the cusp of entering the correcting phase. Echoing similar sentiments is Morgan Stanley CIO Mike Wilson, who insists a significant correction has been on the cards since 2023. According to Wilson, investors had pushed stocks upwards, with valuation skyrocketing above historical norms and beyond the value of their fundamentals. Therefore, a rapid descent should be expected as headwinds soar left, right and centre. 'I'm actually pretty negative for the first time in a while,' Cohen said. 'It may only last a year or so, but it's definitely a period where I think the best gains have been had and wouldn't surprise me to see a significant correction.' On the other hand, Cohen remains optimistic about the artificial intelligence outlook despite DeepSeek's revelation and development on the development of cost-effective AI models rattling the US markets. According to Cohen, DeepSeek's development of cost-effective AI models is positive despite raising concerns about spending on powerful AI chips developed by US companies. Cohen is one of the billionaire investors taking advantage of the artificial intelligence boom through strategic investments. His portfolio at Point72 Asset Management hedge boasts significant exposure to tech giants developing and leveraging various AI innovations. Likewise, Point72 Asset Management has already unveiled a new artificial intelligence-focused fund that posted a 14% gain in the last three months of 2024 growing to $1.5 billion. We combed Point 72 SEC Q4 2024 13F filings to identify billionaire Steve Cohen's 10 large-cap stock picks with huge upside potential. We focused on stocks with a market cap of more than $40 billion with significant upside potential. We then analyzed the stocks on why they stand out as solid investments well poised to generate significant value even on the overall equity market turning bearish. Finally, we listed the stocks in ascending order of upside potential. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A software engineer at work, surrounded by a wall of computer monitors connected to a 'Data Cloud' platform. Snowflake Inc. (NYSE:SNOW) is a software application company that provides a cloud-based data platform. The platform includes artificial intelligence (AI) Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights. The growing traction of the company's artificial intelligence-focused applications has helped strengthen the stock's sentiments on Wall Street. While Mizuho analysts cut the stock's price target to $190 from $205 on April 14, they still reiterated a Buy rating. Snowflake Inc. (NYSE:SNOW) is one of the companies benefiting from the robust consumption of artificial intelligence solutions on the cloud. The company's limited exposure to federal markets is also seen as a positive during heightened economic uncertainties and recession risks. Snowflake Inc. (NYSE:SNOW) delivered better than expected fourth quarter fiscal 2025 results on booming demand for its artificial intelligence products. Its Q4 2025 earnings per share totalled $0.30 as revenues rose 27% year-over-year to $986.8 million. The Cloud data warehouse company expects revenues of between $955 million and $960 million for its Q1 2026 quarter, representing a growth of between 21% and 22%. Overall, SNOW ranks 6th on our list of billionaire Steve Cohen's large-cap stock picks with huge upside potential. While we acknowledge the potential of SNOW as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SNOW but that trades at less than 5 times its earnings check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
