Prysmian SpA

Prysmian has partnered with Rio Tinto to supply electrical cables made with low-carbon aluminum for an Amazon data center in Ohio, marking the first known use of inert-anode-smelted aluminum in a data center. The cables will use aluminum produced with ELYSIS inert-anode technology, which Prysmian says eliminates direct greenhouse-gas emissions from smelting and releases pure oxygen instead, and will be manufactured at Prysmian's Sedalia, Missouri facility. The project builds on a five-year supply agreement the two companies signed in 2023 for low-carbon aluminum produced with renewable hydropower from Rio Tinto's Canadian operations, and on their expanded ELYSIS collaboration announced in March 2026. AWS Vice President of Data Center Engineering Joern Tinnemeyer linked the Ohio initiative to Amazon's target of net-zero carbon emissions across its operations by 2040, while Prysmian is targeting Net Zero by 2035 and wants sustainability-linked solutions to account for 55% of revenue by 2028. Prysmian has not disclosed a contract value or expected revenue contribution for the Amazon project, and ELYSIS-produced aluminum remains in development, so the Ohio data center is best viewed as an early commercial test rather than evidence of large-scale adoption.

The global fiber optical cable market is projected to grow from $16.34 billion in 2025 to $36.78 billion by 2035, according to a new report from ResearchAndMarkets.com. The market, which grew at a compound annual growth rate of 10% since 2020, is expected to expand at a CAGR of 9.1% from 2025 to 2030, reaching $25.21 billion, and then at a CAGR of 7.8% through 2035. Growth is driven by 5G deployment, data center expansion, and broadband initiatives, though challenges include supply chain disruptions and trade tariffs. In 2025, glass optical fiber dominated with 88.9% of the market, single-mode cable led with 62.5%, and telecommunications applications accounted for 55.7%. Asia-Pacific was the largest regional market at $6.81 billion, with a 41.7% share, and is also forecast to be the fastest-growing region through 2030. The report profiles major players including Corning, Prysmian, and Sumitomo Electric Industries.

Several major acquisition agreements were announced this week. DoubleVerify agreed to be acquired by Nielsen in an all-cash transaction valued at approximately $2.15 billion, with shareholders receiving $13.60 per share. Advanced Micro Devices signed a definitive agreement to acquire Taalas, a developer of specialized AI inference silicon. Visa agreed to acquire BioCatch, a provider of behavioral-first fraud intelligence, for $2.4 billion from funds advised by Permira. Prologis reached an agreement to buy SEGRO plc for about $18.8 billion after securing a board recommendation. Bending Spoons is acquiring Airtable in an all-cash transaction valuing the workflow software company at an enterprise value of $1.285 billion, implying an equity value of about $2.25 billion. Curium announced a deal to acquire all outstanding shares of Lantheus Holdings for up to $114.50 per share in cash, including contingent value rights. Atkore entered into a definitive agreement to be acquired by Prysmian in an all-cash transaction representing an enterprise value of approximately $3.8 billion. Supernus Pharmaceuticals and Indivior Pharmaceuticals agreed to merge in an all-stock merger of equals. Digital Brands Group shares surged after receiving a proposal from an existing shareholder to acquire all outstanding shares for $77.58 per share in cash. Gloo entered into a definitive agreement to acquire Cedarstone, a business services firm serving nonprofit organizations.

Atkore Inc has entered into a definitive agreement to be acquired by Prysmian in an all-cash deal valued at $95 per share, representing an enterprise value of approximately $3.8 billion. The announcement came as the company reported third-quarter fiscal 2026 net sales of $795 million, an 8.1% increase year-over-year, with adjusted EBITDA rising 4.7% to $105 million and adjusted EPS of $1.92. Organic volume grew 9%, driven by both the electrical and safety and infrastructure segments, though GAAP net income fell sharply to $0.7 million due to a $50 million litigation settlement expense. The company also completed divestitures of non-core businesses, which reduced net sales by $39 million, and declared a quarterly dividend of $0.33 per share.

US stocks rallied with the S&P 500 up 1.18% to a 2.5-week high, the Dow Jones Industrial Average up 1.08% to a 3.5-week high, and the Nasdaq 100 up 1.40% to a 1-week high. Gains were driven by easing Middle East tensions that sent crude oil prices down 5%, lowering inflation fears and bond yields, with the 10-year Treasury yield falling 5 basis points to 4.68%. The July ISM manufacturing index rose to 55.6, the fastest expansion in four years, while dovish comments from New York Fed President John Williams supported sentiment. Strong second-quarter earnings expectations also boosted stocks, with Bloomberg Intelligence forecasting a 23% increase and AI infrastructure stocks contributing nearly 60% of S&P 500 earnings-per-share growth. Among individual movers, Meta Platforms rose more than 5%, Amazon more than 4%, and Atkore surged over 28% after Prysmian agreed to acquire it for $3.8 billion.

Equity investors are learning that not all artificial intelligence trades are created equal this earnings season. While S&P 500 firms are on track for a 29% surge in second-quarter earnings per share, the index has been flat since mid-July as traders penalized heavy AI spenders like Meta Platforms Inc. and Alphabet Inc., while rewarding Microsoft Corp. for preserving cash reserves. European stocks have fared better, with the Stoxx 600 advancing 1.3% as its members posted a 19% profit surge, benefiting from lower tech concentration. The semiconductor supply chain also saw gains, with Lam Research Corp., Schneider Electric SE and Prysmian SpA among outperformers on robust AI-enabling demand. Profit expectations continue to rise on both sides of the Atlantic, with US earnings revisions seeing net upgrades for 15 straight weeks, the longest streak since 2022.