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J.P. Morgan strategist Nikolaos Panigirtzoglou pointed out that the AI stock sell-off in October may be difficult to replicate the rapid rebound seen in July. Compared to before, the current market's willingness to buy on dips has weakened, short positions are insufficient to provide potential short-covering buying, corporate buyback funds are also decreasing, and at the same time, leveraged exposure in ETFs is being rebuilt, which may further amplify market volatility. J.P. Morgan believes that, based on investor positioning and capital flows, AI infrastructure stocks do not yet appear to be in an oversold state.This round of sell-off has spread from South Korean memory chip stocks to the U.S. semiconductor sector. SK Hynix and Samsung Electronics have both seen their stock prices drop by nearly one-third over the past month, and the Philadelphia Semiconductor Index has fallen 10% over the last five trading days. Additionally, the combined $40 billion stock buyback plan previously announced by the two companies was completed ahead of schedule in mid-October, which may have caused the market to lose some of the buying support brought by corporate buybacks.Meanwhile, BlackRock CEO Larry Fink warned that if the U.S. halts data center construction, the economy could fall into recession. He stated that a significant portion of U.S. economic growth is related to capital expenditures in AI infrastructure. As market concerns deepen regarding the return on AI investments and corporate profitability, price adjustments in the AI supply chain could also impact data center construction, energy infrastructure, and related employment sectors.

After the third quarter earnings report was released, JPMorgan Chase (JPM.N) fell 2% in pre-market trading.

According to Bloomberg, JPMorgan Chase and Goldman Sachs are leading a $5 billion loan underwriting deal for AI cloud service company Volta Infrastructure Holdings (Volta AI), but are only underwriting $1.3 billion of the term loan to reduce their own risk exposure.It is reported that this $1.3 billion term loan deal will be used to pay for Volta's leasing fees for the data center of Bitcoin mining company Bitdeer. So far, representatives from JPMorgan Chase, Goldman Sachs, and Volta have declined to comment on the matter.

JPMorgan analysts stated that AI stocks are expected to drive a 70% profit growth in Asia by 2027. Analysts noted that Asia's AI exposure is primarily concentrated in the hardware sector, with supply constraints likely to persist until 2028, giving related companies significant pricing power.JPMorgan expects that by 2028, the net profit of the AI ecosystem will exceed $1 trillion, with free cash flow reaching $700 billion.

Linguard Labs is a financial technology infrastructure company headquartered in California, USA, founded by former Visa Head of Mobile Innovation Drew Weinstein, with former JPMorgan Global Chief Architect John Davies serving as Chief Technology Officer. Linguard Labs has acquired majority control of the Salvador Chivo wallet and announced the relaunch of the wallet through a public-private partnership.The Salvadoran government transferred the relevant majority stake under the guidance of the International Monetary Fund (IMF). The new Chivo will provide microloans and cash advances based on users' income, payment, and spending records within the wallet, and merchants can also apply for cash advances for business expansion, targeting unbanked and underbanked populations. The new program also includes fee-free remittances from the United States to El Salvador, as well as a debit card that supports cashback, allowing users to spend at merchants that do not yet accept cryptocurrency payments. Chivo currently has over 4.5 million registered users.

J.P. Morgan analysts stated that SpaceX's latest spectrum deal may raise concerns about intensified competition among the three major wireless carriers in the United States. Although SpaceX could become a new market participant, the threat to Verizon, T-Mobile, and AT&T remains limited in the short term.

In a report released on Wednesday, JPMorgan analysts estimated that approximately $50 billion has flowed into digital assets this year, with an annualized rate of about $66 billion, up from the annualized level of $52 billion in May, but still about half of last year's pace. The report is led by Nikolaos Panigirtzoglou. Analysts estimated the inflow by aggregating data from cryptocurrency fund flows, CME futures implied flows, cryptocurrency venture capital fundraising, and purchases by listed mining companies and corporate treasuries, this time including private company treasuries, private mining companies, and government-related entities in the statistics.Analysts pointed out that the inflow in the first half of the year mainly came from Bitcoin purchases by Strategy and cryptocurrency venture capital financing, while ETF fund flows were a drag at that time, with significant outflows in May and June; since August, ETF fund flows have improved, turning positive for the year, but if calculated from the market correction starting October 10, 2025, the cumulative ETF fund flow is still negative. Institutional positions in Bitcoin and Ethereum futures at CME have increased over the past two months, with Bitcoin positions surpassing previous peaks and Ethereum positions nearing the October 2025 high. Offshore exchange perpetual contract leverage has fallen from the peak after the correction but remains above historical averages, and trend-following traders, including commodity trading advisors, have begun to rebuild long positions in Bitcoin and Ethereum.Analysts also stated that Bitcoin mining companies have been net sellers this year, with net sales of about $1.8 billion, mainly from listed mining companies, which have shifted from hoarding coins to selling newly mined tokens, partially reducing their existing holdings to fund artificial intelligence infrastructure expenditures.

Binance will launch bStocks tokenized securities trading pairs on October 7 at 20:00: JPMB/USDT, LLYB/USDT, SECZB/USDT, and USDEB/USDT. The spot algorithm trading robot will be activated simultaneously with the spot listing, and the smart holding robot will be activated within 24 hours after the launch. Within one hour of bStocks going live, users can exchange for BTC, USDT, or other supported tokens without any fees. The zero maker fee promotion will last until November 1 at 07:59.

JPMorgan stated that the likelihood of the United States imposing tariffs on silver and platinum group metals is "decreasing."

According to Decrypt, the Solana Foundation announced the launch of the open-source custody program Solana DvP, providing standardized delivery versus payment (DvP) settlement APIs for financial institutions, released under the MIT license, with input from JPMorgan on the design of institutional settlement practices.The program aims to introduce settlement assurance into public chain infrastructure as a reusable standard, replacing the customized smart contracts previously relied upon by institutional trading.Solana DvP compresses the process that traditionally takes days to complete through clearinghouses, custodians, and custodians into a single atomic transaction, where assets and payments are settled simultaneously or not at all. The program supports SPL Tokens and Token-2022, covering extended features such as permanent delegation, pauseable tokens, and transfer hooks relied upon by regulated issuers, and has passed external security audits. The foundation stated plans to add privacy features in the future to keep settlement information confidential.Catherine Gu, head of digital asset products at the Solana Foundation, stated that atomic settlement eliminates the counterparty risk inherent in traditional finance, providing institutions with a single open standard to achieve finality in seconds rather than days.Rhodel D'souza, head of market digital assets at JPMorgan, said that the shared atomic delivery versus payment open standard is exactly the infrastructure needed by institutional market participants. This release builds on Solana's rising institutional appeal in the tokenized asset space, with BlackRock launching a tokenized money market fund in August, and Kraken offering tokenized U.S. stocks to overseas clients through its xStocks product on Solana.

Charles Wu, the Head of Client Strategy for Alternative Investments at JPMorgan Chase in Asia Pacific, stated that foreign investors are providing funding for the development of artificial intelligence computing infrastructure in North America.Institutional investors such as foreign banks, pension funds, sovereign wealth funds, and insurance companies from Asia and the Gulf region play a significant role in the expansion of this sector. Currently, capital expenditures in the AI industry are approaching $1 trillion.

JPMorgan analysts stated that the recent pullback in global AI trading has improved investors' positions, making valuations more attractive, which may drive investors to reposition, especially in the semiconductor stock sector. JPMorgan pointed out that sustained strong earnings performance and evidence of AI commercialization will support investors' renewed focus on this sector.

JPMorgan Chase has lowered the target price for Tesla (TSLA.O) from $445 to $415.

A team led by JPMorgan analyst Nikolaos Panigirtzoglou released a report on Wednesday stating that Bitcoin recently surpassed the estimated production cost of approximately $85,000. The report noted that Bitcoin had been below this estimated average production cost for 280 consecutive days before breaking above it during this week's rebound, briefly trading above it before slightly retreating, at around $84,100.The analysts indicated that historically, production costs have acted as a soft floor for Bitcoin prices. When prices remain below this level for an extended period, miners with high electricity and equipment costs may become unprofitable. The last time Bitcoin was below the estimated production cost for a similar duration was in 2018, lasting about 224 days, during which the price drop prompted high-cost miners to shut down, leading to a decrease in Bitcoin network hash rate and mining difficulty.The analysts stated that the mining industry today is larger and more industrialized than in 2018, but the same adjustment mechanism still applies, namely the exit of high-cost miners. If this new situation can be maintained, it should provide relief for Bitcoin miners, thereby reducing their risk of being forced to sell.

The report "Eye on the Market" by Michael Cembalest from JPMorgan Private Bank was released on September 10, 2026, stating that Anthropic has committed to approximately 15 GW of additional power access, estimating the costs for cloud, chips, and data center leasing at around $500 billion, up from 1-2 GW previously. OpenAI aims to reach 30 GW by 2030, with data center spending of about $750 billion. Most of the power comes from grid or behind-the-meter natural gas generation, with nearly all of the on-site 75 GW being gas equipment, including deals like the $100 billion / 5000 MW agreement with Amazon AWS.The report also mentioned that OpenAI has not released a model claiming to provide a proof for the Navier-Stokes Millennium Prize Problem, which is under mathematical review, and there are rumors of progress on the Hodge Conjecture, while Anthropic has made progress on the Birch and Swinnerton-Dyer Conjecture. GPT-6 Astra scored 62% on the ARC-AGI-3 standard harness and 99% on the Provider Adapter. Francois Chollet pointed out that AGI progress is faster than expected.

According to Bloomberg, the Qatar Investment Authority (QIA) is seeking to establish an investment partnership with JPMorgan worth up to $20 billion, which includes a $15 billion public equity investment mandate and a $5 billion private market investment plan focused on U.S. mid-sized companies.The collaboration will cover both public and private markets, including equities and credit, with a related memorandum of understanding expected to be announced as early as Monday.

According to Bitcoin Magazine, Strategy CEO Phong Le stated in an interview video released by Bitcoin Magazine that the company's goal is not to become a pure Bitcoin holding company, but to become "the JPMorgan of the Bitcoin space"—by creating products, building markets, and providing liquidity for the digital asset economy, serving an economy that he believes could ultimately cover 8 billion people.Phong Le introduced that Strategy's digital credit ecosystem currently has a scale of approximately $15 billion, with the yields and tokenized products built on the DeFi protocols based on STRC being more important than the products launched by Strategy itself. He also discussed the reasons for the company's choice to repurchase rather than increase STRC dividends, as well as his thoughts on the digital credit business after experiencing a period of pressure.In terms of Bitcoin strategy, Strategy adopts a dual approach that emphasizes both long-term accumulation and flexibility, viewing Bitcoin as an item on the balance sheet close to cash. Le also responded to questions related to the MSCI index, stating that the company opposes being excluded based on principles, and revealed that AI tools have been embedded in various aspects of Strategy's software and Bitcoin business.

J.P. Morgan analyst Nikolaos Panigirtzoglou's team stated in a report on Wednesday that if ETF hedging demand decreases, Bitcoin may receive more support compared to gold. The report mentioned that after the Federal Reserve's meeting at the end of July, "devaluation trades" returned, with both Bitcoin and gold ETFs experiencing inflows.The gold ETF has recovered all outflows from earlier in 2026, while the Bitcoin ETF has recovered about half. BlackRock iShares Bitcoin Trust ETF (IBIT) short positions remain close to year-to-date highs, while SPDR Gold Shares ETF (GLD) short positions are below historical averages, and the put/call ratio for IBIT is also higher than that for GLD.Analysts stated: From a positioning perspective, the higher short positions of IBIT relative to GLD may provide more support for Bitcoin compared to gold if hedging demand decreases.

JPMorgan Chase announced that it will raise the prime rate by 25 basis points to 7%, effective from September 17 (Thursday) local time.

JPMorgan expects the Federal Reserve to raise interest rates by 25 basis points in September and December 2026, up from the previous forecast of a single rate hike in December.