Eaton Corporation PLCETN
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Eaton closed acquisition of Boyd Thermal, adding liquid-cooling expertise for data centers and aerospace, strengthening its integrated grid-to-chip solutions.
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Nvidia, Google and Emerald AI Launch AI Energy Management Alliance
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Goldman Sachs Says Big Tech Valuation Premium Is Fading
Goldman Sachs Research says the forward price-to-earnings multiples of the largest S&P 500 companies have fallen sharply and are now converging toward the valuation of the other 495 stocks in the index, eroding a valuation premium mega-cap technology names have held for years. The firm points to two pressures behind the de-rating: a higher cost of capital and dramatically greater capital intensity. Microsoft, Amazon, Meta Platforms and Alphabet are committing enormous sums to artificial-intelligence infrastructure, including data centers, chips and power capacity, investments that may support future growth but consume cash today, while higher borrowing costs reduce the present value investors assign to future earnings and cash flows. Goldman's takeaway is that mega-cap tech is no longer priced as dramatically different from the rest of the market, leaving those companies to prove their growth deserves a premium, and investors should focus less on headline AI spending and more on the returns generated from it.
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Amazon AWS Revenue Hits $42.23B, Up 37% in Fastest Growth in 18 Quarters
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