Sophie Renard 
Jefferies issued a cautionary report on Soitec, a European technology company that had surged during the recent AI rally, warning of bubble risk. The stock experienced a significant decline following the report release.
Billionaire Patrick Drahi has agreed to sell French mobile carrier SFR to a consortium of rival telecommunications firms for €20.4 billion, a deal that will test regulators’ tolerance for consolidation in the French telecom market.
A group of high-profile private credit firms led by Arcmont and Ares have provided a €1.1 billion loan to French business software firm Cegid, demonstrating confidence in the software sector despite recent AI-induced market volatility.
Elon Musk will virtually attend a closed-door technology conference organized by ASML Holding NV to discuss his Terafab project, which ASML considers a serious endeavor. Terafab is focused on chip manufacturing technology.
Airbus SE, Leonardo SpA, and Thales SA are forming a satellite joint venture that will serve as a test case for the EU’s newly revamped merger framework, which has been reformed to enable the creation of globally competitive European champions to rival companies like Elon Musk’s SpaceX.
LS Power LLC is in advanced negotiations to purchase Electricité de France’s North American renewable power business, driven by increasing energy demand from data centers.
Schneider Electric SE is issuing €800 million of debt as it capitalizes on strong market momentum from its growing involvement in the data center support business, particularly driven by increased demand related to AI infrastructure.
Sophie Huynh from BNP Paribas Asset Management warns about potential bubble in AI trade space and discusses token rationing risks, where consumption of tokens may exceed supply. She also comments on Middle East conflict impact on markets.
France is undertaking a €110 billion investment program to build out data centre infrastructure to support AI development and technological ambitions under President Macron. However, investors caution that regulatory approval timelines and local community opposition present risks to the timeline and successful completion of the ambitious project.
Bill Ackman’s Pershing Square is planning to sell its stake in Universal Music Group NV, the Amsterdam-listed music company, shortly after the company rejected Ackman’s takeover bid.