Welcome to Markets Desk, your midday read on what's moving markets and money.
SoftBank's Masayoshi Son is making his biggest push yet into the Gulf, seeking one hundred billion dollars from UAE investors to fund an expanded artificial intelligence strategy. Son has held direct talks with senior Emirati officials in recent weeks, signaling that the Vision Fund playbook is very much alive and looking for fresh capital in sovereign wealth territory.
Shifting to crypto infrastructure, Bitcoin miners are breathing easier after a brutal stretch. Daily industry revenue has surged seventy-eight percent, climbing from roughly twenty-seven million dollars at July's lows to as much as forty-eight million, as Bitcoin itself recovered nearly forty-five percent off its recent floor. Hash rates and miner margins are both recovering ground fast.
And on the IPO front, Nvidia-backed Australian data centre operator Firmus has pulled its five billion dollar Sydney listing, citing recent market volatility and prevailing conditions. It's a notable retreat given the AI-driven appetite for data centre capacity, and it signals that even well-pedigreed infrastructure plays are finding public market windows difficult to time right now.
That's the tape. Markets Desk, signing off the floor.
