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AI Stocks Without The AI Price Tag

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Nvidia: Buy The Dip

Nvidia Corporation building in Taipei, Taiwan.

BING-JHEN HONG/iStock Editorial via Getty Images

While we firmly believe AI stocks are in a bubble, it is undeniable that AI is powerful and likely a major driver of future earnings. Even with the dot-com bubble popping in devastating fashion, the internet upon which it was based is a clear source of value.

As fundamental-based value investors, AI poses an interesting puzzle: How do we invest in the technology and underlying growth without exposing ourselves to the risks of a potential bubble?

The headline AI names are trading at rather extreme valuations, essentially already building in tremendous success. Even those with seemingly reasonable multiples, such as the chip makers, are arguably bubble valuations if one adjusts for the cyclicality of earnings.

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We believe there is a different category of stocks that simultaneously provides exposure to the upside of AI while remaining compliant with fundamental value principles.

We sought and continually purchased stocks of companies that were clear fundamental beneficiaries of the buildout of AI but had not yet experienced a bloom in valuation. Let us first walk through the phases of bubble formation as they played out and then discuss the opportunity set.

AI bubble formation resonating outward

As bubbles form, there is usually an epicenter where the hype is most concentrated and first appears. After the initial hype phase, it resonates outward to adjacent industries that participate somewhere along the supply chain.

The current AI bubble began when OpenAI released its LLM to the world, and individuals could experience for the first time how powerful the technology could be. Thus, the epicenter was the explicitly AI companies.

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It was apparent that OpenAI could not do it alone. AI would need astronomical amounts of compute and infrastructure. So, the bubble resonated outward.

A diagram of a company's diagram AI-generated content may be incorrect.

2MC

Hyperscalers like much of the Mag 7 already owned vast amounts of computing power.

Chip makers, led by NVIDIA but inclusive of the whole set, were the obvious picks and shovels of the AI gold rush.

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All the incremental compute would need 2 factors to be possible:

  1. Lots of power
  2. Data centers in which to house and power the equipment

Independent power producers emerged as favorites because of their ability to sell power at market price rather than a regulated price. As auction prices spiked, their revenue multiplied immediately.

Many data centers were requesting green energy, but their 24/7 nature required on-demand power that was difficult to produce from wind or solar, so nuclear received the lion’s share of hype. Anything remotely related to nuclear traded up to bubble valuation, even speculative nuclear and SMR (small modular reactor) startups.

Data centers took a surprisingly long time to get bid up but eventually received bubble valuation.

Finally, electric utilities are being seen as the gatekeepers of the incremental electricity production necessary to fuel AI. Valuations across the sector crept up but remain reasonable.

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Fundamentally responsible investing in AI

The 2 greatest pitfalls to investing in AI today are:

  1. Bubble valuations
  2. Temporary fundamental benefit

As the hype resonated outward, investors could have done very well by investing in each ring before the pricing went parabolic. Investing after the move seems a bit more dubious.

As value investors, we were only able to invest before the move because our valuation principles precluded investment once prices went haywire. GE Vernova (GEV) is simultaneously a point of pride and remorse. We saw it early but also exited way too early as the stock surpassed what we viewed as reasonable valuation.

It took a remarkably long time for the hype and extreme valuation to reach the outer rings in the diagram above. In 2025, data centers were still cheap. The market was so used to companies that experienced the demand boom in a more cyclical (high operating leverage) sort of way that Equinix (EQIX) got clobbered on its Investor Day presentation in 2025.

A screen shot of a graph AI-generated content may be incorrect.

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The market just didn’t seem to comprehend that the growth EQIX was talking about was secular, repeatable growth, while something like a chip maker was experiencing cyclical growth. All the market saw was that EQIX’s growth number was smaller. It sold off, affording a value entry point into a top performing company with clear long-term exposure to AI.

We think there is still substantial mispricing in AI-related stocks and a clear opportunity within that mispricing. The biggest remaining source of mispricing seems to be a lack of differentiation between temporary and permanent fundamental benefits.

Temporary fundamental benefit

Much of the temporary fundamental benefit from AI stocks is related to imbalances in supply chains that were created by a sudden surge in demand.

  • Chip demand surges; production is insufficient, causing chip prices to soar.
  • Power demand surges; production is insufficient, causing electricity prices to soar.
  • Turbine demand surges; production is insufficient, so prices soar.

We consider this a temporary fundamental benefit because the margin expansion is directly related to the current imbalance. Over time, production will rise to meet demand, at which point prices will normalize.

Many of these stocks are priced as if the fundamental benefit is permanent. The earnings multiples are only appropriate if the margins stay high. However, there are already signs of supply chains normalizing.

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  • New chip production is being built.
  • New power plants are in various stages of development.
  • Increased turbine manufacturing is in progress.

While there may be 1-3 years before sufficient production comes online, we see eventual restoration of equilibrium as inevitable.

Thus, we believe the stocks in these categories that are trading at high multiples are at risk of the bubble popping.

In contrast, there are other companies that have either permanent fundamental benefits or locked-in enhanced earnings for a long time period.

Permanent beneficiaries

The contrast is most clearly seen in the difference between IPPs and regulated utilities.

  • IPPs experienced extremely high growth, with many even reaching triple-digit growth. Almost all of that was based on the price at which they could sell.
  • Regulated utilities had much more muted growth, around 8%. Their sale prices are regulated, so they didn’t get to participate in the price spike.

However, as sufficient power comes online, prices will come back down, and IPPs will lose earnings power. Regulated utilities will have grown permanently with their increased load. In 5 years, the regulated utilities will have earnings that are permanently ~40% higher because their loads will be substantially bigger, and they get a regulated return on their load.

The market seems to be dramatically overvaluing temporary beneficiaries, almost extrapolating the recent earnings surge. This could prove dangerous as earnings not only stop surging, but potentially come back down to where they were before the spike. In my opinion, GEV, chip makers, and IPPs are all susceptible to a bubble-style crash.

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3 other sectors are closer to permanent beneficiaries:

  1. Contracted power providers
  2. Data centers
  3. Regulated electric utilities

Contracted power providers like Clearway Energy (CWEN) and HA Sustainable Infrastructure (HASI) sign long contracts for their power production. During the surge, they have secured contractual earnings on incremental generation for terms north of 10 years. The pricing they secured was nowhere near as extreme as the IPPs, but it will last much longer.

Data centers are similarly being built in a build-to-suit fashion where they are constructed with contracts already in place at going-in cap rates north of 10%. Capital-intensive development at mid-teen cap rates will not create explosive earnings growth, but it is durable earnings growth. That said, data center multiples are getting a bit above our value range, so we only have a small stub position in EQIX left as well as ancillary exposure from Broadstone Net Lease (BNL) and American Tower (AMT).

Electric utilities are, in my opinion, the best remaining AI play. While the sector has performed well, earnings have kept up such that earnings multiples have remained in the normal range. In fact, regulated utilities are trading cheaper relative to the S&P 500 than they normally trade relative to the S&P 500.

It is a discounted sector with a PE multiple of 20.47X, yet the sector’s forward growth rate is higher than its normal. Almost all the major utilities are calling for growth in the 7%-10% range annually for the next 5+ years.

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The math just works well for investors at this valuation. Dividend yields of 3%-4% with 7%-10% earnings growth imply well above market total return potential.

Avoid the bubble but participate in the technology

Investing in the way discussed above has 3 main benefits:

  1. Reduced downside if/when the bubble pops. There could be some collateral damage to the whole market given the scale of the bubble, but companies with solid fundamentals and reasonable valuation should bounce back quickly.
  2. Long-term upside as AI technology progresses.
  3. Agnostic to which AI model wins

There are so many AI models, and the “best AI” keeps changing. We have no idea whether the ultimate winner will be Gemini, Anthropic, Grok.AI, or some other model that hasn’t even been announced yet. We also don’t know if it will be winner-take-all or split among dozens.

Investing in the underlying infrastructure at a reasonable valuation doesn’t care about the above unknowns. If AI succeeds in any form, data centers, utilities, and contractual power producers will win. The key is just buying at the right valuation.

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Dividends & stock splits: Maruti Suzuki, ICICI Bank among nearly 100 stocks turning ex-date this week. Do you own?

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Dividends & stock splits: Maruti Suzuki, ICICI Bank among nearly 100 stocks turning ex-date this week. Do you own?
Nearly 100 companies, including Maruti Suzuki, ICICI Bank, Coforge, Vedanta Aluminium and others, have fixed their record dates for corporate actions such as stock splits and dividends for the upcoming week between August 3 (Monday) and August 7 (Friday).

Interested investors need to hold shares of these companies in their demat accounts on the record date to be eligible for the respective corporate actions. The list remains tentative, as more companies may announce record dates for dividends, bonus issues and stock splits during the week.

Here is a day-wise list of corporate actions to watch out for this week.

August 3 (Monday)

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Around 12 companies have fixed August 3 (Monday) as the record date for their respective dividends. The most notable name among them is ICICI Bank. The heavyweight private lender has fixed Monday as the record date for its final dividend of Rs 12 per share.


IT player Coforge also has fixed Monday as the record date for its interim dividend of Rs 4 per share, while Emkay Global Financial Services will turn ex-record date for a final dividend of Rs 1.5 per share.
Other stocks that will turn ex-record date on this day include Bannari Amman Spinning Mills (Rs 0.25 per share), Ganesh Infraworld (Rs 0.1 per share), Kakatiya Cement Sugar & Industries (Rs 3 per share), Kanpur Plastipack (Rs 1.2 per share), Khazanchi Jewellers (Rs 0.5 per share), Lakshmi Engineering and Warehousing (Rs 10 per share), Prima Plastics (Rs 2 per share), Sai Silks (Rs 1.5 per share) and Transrail Lightning (Rs 3 per share).August 4 (Tuesday)

Bosch accounts for the highest dividend payout among the stocks turning ex-record date for dividends on Tuesday. The company will pay a dividend of Rs 270 per share to its eligible shareholders.

CONCOR will pay an interim dividend of Rs 1.6 per share, while Alembic Pharma and Balkrishna Industries will pay dividends worth Rs 2.4 per share and Rs 4 per share, respectively. Other stocks turning ex-record date on Tuesday include Andhra Paper (Rs 0.5 per share), CE Info Systems (Rs 3.5 per share), Eveready Industries (Rs 2.5 per share), Greenply Industries (Rs 0.5 per share), Hirect (Rs 1.4 per share), Mysore Petro Chemicals (Rs 2 per share), PCBL Chemical (Rs 4.5 per share), Sonam (Rs 0.3 per share), TCPL Packaging (Rs 25 per share) and The Grob Tea Company (Rs 2 per share).

August 5 (Wednesday)

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Disa India accounts for the highest dividend payout among the stocks turning ex-record date for dividends on Wednesday, with a final dividend of Rs 200 per share.

Bayer CropScience and Automotive Axles will pay final dividends of Rs 60 per share and Rs 32 per share, respectively, while Goodyear India will pay a final dividend of Rs 26.5 per share. Gandhi Special Tubes will pay a final dividend of Rs 15 per share, Matrimony.Com will pay Rs 5 per share, Munjal Showa will pay Rs 4.5 per share, Berger Paints India will pay Rs 4 per share, Fermenta Biotech will pay Rs 3.75 per share, and Sika Interplant Systems will pay Rs 3.5 per share.

Other companies turning ex-record date for final dividends on Wednesday include Brigade Enterprises (Rs 2 per share), Indef Manufacturing (Rs 2 per share), Somany Ceramics (Rs 2 per share), Anuh Pharma (Rs 1.5 per share), Indag Rubber (Rs 1.5 per share), Shreyans Industries (Rs 1.5 per share), Mukesh Babu Financial Services (Rs 1.2 per share), TD Power Systems (Rs 1.1 per share), ADF Foods (Rs 0.6 per share), and Oriental Aromatics (Rs 0.5 per share).

In addition, Ajanta Pharma, IRB Infrastructure Developers, and Vedanta Aluminium Metal will turn ex-record date for their respective dividends, while Tembo Global Industries will turn ex-record date for a stock split from Rs 10 to Rs 1 per share.

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Also read | Explained: Why Kospi skyrocketed 18% today after massive selloff and what’s ahead for South Korea’s ‘bipolar’ stock market

August 6 (Thursday)

Lumax Industries accounts for the highest dividend payout among the stocks turning ex-record date for dividends on Thursday, with a final dividend of Rs 55 per share.

Rane Holdings will pay a final dividend of Rs 47 per share, while Linde India will pay a combined dividend payout comprising a final dividend of Rs 4 per share and a special dividend of Rs 8 per share. Tasty Bite Eatables will pay a final dividend of Rs 10 per share, Lumax Auto Technologies will pay Rs 5.5 per share, Praj Industries will pay Rs 3.6 per share, and Hercules Investments will pay Rs 2.5 per share.

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Other companies turning ex-record date for final dividends on Thursday include Bharat Gears (Rs 1 per share), Investment & Precision Castings (Rs 1 per share), Mindteck (India) (Rs 1 per share), and Bemco Hydraulics (Rs 0.1 per share).

August 7 (Friday)

Maruti Suzuki India accounts for the highest dividend payout among the stocks turning ex-record date for dividends on Friday, with a final dividend of Rs 140 per share.

Chennai Petroleum Corporation will pay a final dividend of Rs 54 per share, while Avanti Feeds, Grasim Industries, Jasch Gauging Technologies, PI Industries, United Breweries, and Venus Remedies will pay dividends of Rs 10 per share each. Sharda Cropchem will pay a final dividend of Rs 9 per share, Ipca Laboratories will pay Rs 6 per share, KEC International and Nava will pay Rs 5.5 per share each, BDH Industries will pay Rs 5 per share, and Lodha Developers will pay Rs 4.25 per share.

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Bhagwati Autocast will pay a final dividend of Rs 3.5 per share, while Mukand, Netweb Technologies India, and Quess Corp will pay Rs 3 per share each. Shyam Metalics And Energy will pay Rs 2.7 per share, and Aarvi Encon and Wonderla Holidays will pay Rs 2 per share each.

Arvind Fashions will pay a final dividend of Rs 1.6 per share, while Rubicon Research, Sahyadri Industries, Shri Dinesh Mills, Tube Investments of India, and Varroc Engineering will pay Rs 1.5 per share each. Cholamandalam Financial Holdings will pay Rs 1.3 per share, Aditya Birla Lifestyle Brands and BN Rathi Securities will pay Rs 0.5 per share each, Steelcast will pay an interim dividend of Rs 0.45 per share, Westlife Foodworld will pay an interim dividend of Rs 0.4 per share, and IDFC First Bank, Manba Finance, and Sagility will pay Rs 0.25 per share, Rs 0.25 per share, and Rs 0.1 per share, respectively.

In addition, JOJO Ltd. will turn ex-record date for a stock split from Rs 10 to Rs 5 per share.

Also read | Odyssey of stock market: What investors can learn from the Greek epic hero’s journey back home?

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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AI may hurt IT today, but it could create the sector’s next growth engine: Baroda BNP Paribas MF

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AI may hurt IT today, but it could create the sector's next growth engine: Baroda BNP Paribas MF
Artificial intelligence may be disrupting India’s $280-billion IT services industry today, but the technology could ultimately create its next wave of growth rather than destroy it, according to Rohan Korde, Fund Manager at Baroda BNP Paribas Mutual Fund.

The fund house believes the recent correction in IT stocks reflects concerns over tariffs, AI-led disruption and weak near-term earnings guidance, but says the long-term opportunity lies in the industry’s transition from pilot AI projects to large-scale enterprise deployments. Korde sees emerging demand for data engineering, cybersecurity, cloud integration, specialised semiconductor infrastructure and AI-enabled hardware as potential growth drivers, even if traditional revenue streams come under pressure.

“While the existing revenue pools may get impacted, every disruption provides an opportunity as well, as has been witnessed in the past,” he said in an interview with ETMarkets.

Edited excerpts from a chat:

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The government’s policy thrust is firmly behind manufacturing, yet you are more bullish on services. What is the market underestimating about the services opportunity?


While there has been a visible thrust on the manufacturing sector through various measures such as introduction of Production Linked Incentives (PLI) and promoting Make in India, it is also quite noticeable that the service sector has not been ignored. Various policies such as national Tourism Policy 2015, National Education Policy 2016, National Health Policy 2017, and initiatives like the National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASAD) to name just a few, have helped drive growth in the services sector as well. Interestingly, The Gross Value Added by the Services sector has averaged 7.1%* year on year growth in the past 20 years, higher than both Industry and Agriculture average growth rate.
Which segments within services—financials, IT, healthcare, telecom, travel or digital businesses—offer the strongest earnings visibility over the next three to five years?The services sector offers multiple sectoral opportunities to invest in: Financial Services, Information Technology, Consumer Services, Power, Healthcare, Telecommunication, Oil & Gas, Telecommunication, Services, and Media & Publication. A lot of companies within these sectors have been growing at a fair clip in the past 5 years. We project good growth visibility in Financial Services (on low credit penetration and financialization of savings), Healthcare (aging demographics, expanding middle class, lifestyle diseases and wellness focus, and potential to see increase in medical value tourism), and Consumer Services (rapid digital acceleration boosting growth in e-commerce and quick commerce driving volumes across audience).

Indian IT services face uncertainty from AI-led disruption. Do you see AI as a threat to existing revenue pools or as the sector’s next growth driver?

The IT Sector has corrected by 23% over the last 1 year led by concerns around uncertainty led by tariffs and AI dominance. Even the growth guidance for FY27 remains weak, though the sector is a beneficiary of the weaker local currency. So, while the impact on stock prices has been immediate, there hasn’t been adequate clarity on how the opportunities might manifest. However, there can be potential prospects as the move from pilot AI projects to scaled enterprise deployments occur, which may be in the form of massive data engineering, new cybersecurity frameworks, or cloud integration & architectures and specialized semiconductors (GPUs, NPUs, TPUs), edge-AI devices, and data center infrastructure on the hardware side. To sum up, while the existing revenue pools may get impacted, every disruption provides an opportunity as well, as has been witnessed in the past.

Financial services represent a significant part of the listed services universe. Where do you currently see the best risk-reward—banks, NBFCs, insurers, asset managers or capital-market businesses?

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Within the Financial Services space, we have a preference for Mid cap banks, NBFCs and platform companies in that order.

From a broader market perspective, do you expect returns over the next year to be driven by earnings growth, valuation expansion or sector rotation?

Generally, the markets do well when there is confidence in the earnings growth trajectory. IMF projects India’s GDP growth at ~6.4% for FY27* and identifies India as the fastest-growing major global economy, bolstered by resilient domestic consumption, robust services activity, and reduced external tariffs. This is higher than their projected growth rate of 3.9% for emerging markets and developing economies and 3.1% for the World. In this scenario, earnings growth, especially if the war scenario tapers off, can be a good growth driver for the markets. Of course, if this war extends further, or in case of additional hostilities elsewhere, corporate earnings are vulnerable to the tune of 300-500bps, in which case instead of earnings growth, sector rotation can be the driver.

Midcap valuations remain elevated despite uneven earnings delivery. Where do you still find a favorable risk-reward, and which segments appear priced for perfection?

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While Midcap valuations may appear expensive in isolation, the current valuation is at a 6% discount to the past 8 year average PE multiple of the index. Similarly, even the large cap Nifty 100 index is trading at a lower valuation (by~8%) to its past 8 year average. At the same time, the small cap index is trading at a premium to its historical valuation. Hence risk reward broadly appears to be favourable in valuation terms for both mid cap and large cap segments.

Which sectors currently offer the strongest overlap between the midcap and value frameworks, and will return over the next three years be driven primarily by earnings growth, valuation rerating or successful corporate turnarounds?

To answer the latter part of the question, as mentioned earlier, earnings growth for India should be a key driver for returns. Successful corporate turnarounds are unique and company specific events, so they cannot be classified as a category driver, while valuation rerating is often derived as a function or outcome of improved earnings growth trajectory.

In the context of Indian markets, the mid cap framework is largely growth oriented, but following the Growth at Reasonable Prices (GARP) philosophy helps in identifying some themes closer to the value philosophy. We see Financial Services and IT offering good overlap between these frameworks due to stock correction, discounted valuation as compared to historical averages, overall good management quality, and healthy cash flow generation.

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If you must start an SIP of Rs 10,000 as an investor with moderate risk appetite at this stage, how would it be spread out across various fund categories? Consider a long-term horizon of 10 years.

While it is difficult to be generic when individual investor risk return profile and tenure are different, and a planner with a holistic view of the client can be a better judge on these aspects, we believe a broad core portfolio from a longer term perspective would appear as spread 20% in hybrid (BAF), 20% each in the large / mid / small categories and the balance 20% in a thematic (value / services / consumption).

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India, Canada aim to conclude CEPA trade pact by end-2026: MEA

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India, Canada aim to conclude CEPA trade pact by end-2026: MEA
New Delhi: India and Canada are working towards concluding negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, said the Ministry of External Affairs (MEA).

In a written reply in the Rajya Sabha, minister of state for external affairs Kirti Vardhan Singh said on Friday that three rounds of CEPA negotiations have been held so far, with the latest round taking place in Ottawa from July 6-10. “Progress has been made across multiple negotiating tracks, with both sides working towards concluding the process by late 2026,” he said. PM Narendra Modi plans to visit Canada later this year to give further momentum to bilateral ties, which have improved under the current dispensation in Ottawa. The MEA said the proposed India-Canada CEPA aims to establish a free trade area by eliminating or reducing tariffs and other trade restrictions. The agreement is also intended to progressively liberalise trade in goods and services, promote a more transparent, predictable and facilitative trade and investment regime, and strengthen economic cooperation and people-to-people ties.

Canada represents a market of 41.65 million people, as of 2025, and $2.34 trillion in terms of GDP in terms of purchasing power parity.
The India-Canada CEPA holds significant potential to unlock and expand bilateral trade, which stood at $8.66 billion in 2024-25, comprising exports worth $4.22 billion from India and imports of $4.44 billion, according to an official.

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Govt’s urban reset: Centre divides ministry of Housing and Urban Affairs into two specialised verticals

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Govt's urban reset: Centre divides ministry of Housing and Urban Affairs into two specialised verticals
New Delhi: In a major structural push to reset urban governance and accelerate infrastructure development, the Centre has executed a complete top-to-bottom overhaul of the Ministry of Housing and Urban Affairs, replacing senior bureaucrats and appointing new leadership to spearhead its flagship missions.

The administrative revamp follows the government’s decision last Thursday to split the ministry into two specialised verticals: Department of Capital Development (Rajdhani Vikas Vibhag) and the Department of Urban Development (Shehari Vikas Vibhag). The division is designed to enable dedicated focus on distinct aspects of urban planning while streamlining service delivery, execution, and policy interventions.

The administrative reshuffle moved at breakneck speed. Within 24 hours of the Gazette notification, secretary Srinivas Katikithala (a 1989-batch IAS officer of Gujarat cadre) handed over charge of the newly-created department of capital development to D Thara, a 1995-batch IAS officer from the same cadre. Simultaneously, the Centre posted Satendra Singh (a 1995-batch Jharkhand cadre IAS officer) as secretary to lead the Department of Urban Development. The overhaul extends deep into the operational leadership of Centre’s core urban schemes.
Crucial personnel shifts include Kuldeep Narayan, who was directing the flagship housing scheme Pradhan Mantri Awas Yojana (Urban), moving to Niti Aayog. Roopa Mishra, who spearheaded the Swachh Bharat Mission (Urban), has also been reassigned. New directors are slated to assume charge within the next fortnight to ensure seamless administrative continuity. At the heart of this structural realignment is a targeted policy focus on the national capital. The Centre has set its sights on resolving Delhi’s long-standing, complex urban challenges through a bifurcated strategy. With a BJP government in power in Delhi, the ministry bifurcation will also help in better implementation of infrastructure projects, including the ambitious Central Vista project.

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US Senator Moreno says Ohio’s Miller should not serve in Congress, citing abuse allegations

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US Senator Moreno says Ohio’s Miller should not serve in Congress, citing abuse allegations

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SoFi: More Wall St. Games (NASDAQ:SOFI)

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SoFi: Silly Wall St. Games

This article was written by

Stone Fox Capital is an RIA from Oklahoma. Mark Holder is a CPA with degrees in Accounting and Finance. He is also Series 65 licensed and has 30 years of investing experience, including 15 years as a portfolio manager. Mark leads the investing group Out Fox The Street where he shares stock picks and deep research to help readers uncover potential multibaggers while managing portfolio risk via diversification. Features include various model portfolios, stock picks with identifiable catalysts, daily updates, real-time alerts, and access to community chat and direct chat with Mark for questions. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SOFI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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10 New Galaxy AI Features Samsung Has Built Into Its New Galaxy Z Fold 8 Foldable Phone Ahead of Launch

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Samsung Sweetens Galaxy Z Fold 8 Pre-Orders With Free Buds

Samsung unveiled its Galaxy Z Fold 8 during a Galaxy Unpacked event in London on July 22, positioning the foldable phone as its most AI-integrated device to date ahead of its general availability date of August 5. Here are 10 new artificial intelligence features Samsung has built into the device.

1. My FanCam. This video-editing feature allows users to select a subject within a video and have Galaxy AI automatically track and follow that person throughout the clip. Users open the AI icon during editing, press the My FanCam button, and tap on the specific subject they want the software to detect and follow, a feature Samsung has positioned as particularly useful for concert footage, sports events or any recording involving multiple moving subjects.

2. Call Brief. This feature automatically summarizes phone calls, giving users a condensed overview of a conversation’s key points without requiring them to review a full transcript or recording, a tool designed to help users quickly recall important details from calls without needing to take detailed notes during the conversation itself.

3. Enhanced Now Nudges and Now Brief cards. Samsung has expanded its proactive, context-aware notification system with enhanced Now Nudges, which surface timely, personalized suggestions based on a user’s habits and daily patterns, alongside customizable Now Brief cards that summarize relevant information for a user’s day. As of July 2026, Now Nudge supports 16 languages, including Korean, English, French, Spanish, Italian, German, Polish, Portuguese, Japanese, Chinese, Thai, Vietnamese, Hindi, Arabic, Indonesian and Russian.

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4. Photo Assist. Boosted by Galaxy AI, Photo Assist lets users move, resize or remove objects within a photo, or fill in background areas left behind after an object has been removed, streamlining photo touch-ups without requiring separate editing software. The tool also includes a Create section that allows users to make personalized edits using written text prompts, and lets users compare original and edited versions of a photo side by side to more easily track changes. Photo Assist currently supports 41 languages.

5. Gemini Intelligence integration. The Galaxy Z Fold 8 runs on One UI 9 and integrates Google’s Gemini Intelligence, an agentic AI assistant designed to handle more complex, multistep tasks across apps rather than responding only to single, isolated commands. TM Roh, CEO, president and head of Samsung’s Device eXperience Division, framed the broader push toward agentic AI as central to the device’s design philosophy. “As AI becomes more agentic, mobile devices will become the most personal entry point to experiences that understand and adapt to each user,” Roh said during the Galaxy Unpacked event. “By setting a new standard for foldables, we are once again advancing the premium mobile experience and opening the next era of intelligence to more people.”

6. Gemini Notebook. Formerly known as NotebookLM, Gemini Notebook is now built directly into the new foldables, taking advantage of the Fold 8’s larger inner display to let users drag photos, documents and recordings into a shared, side-by-side workspace rather than switching between multiple separate apps to organize research or notes.

7. Circle to Search. This feature lets users circle, highlight or tap on anything visible on their screen, whether within an app, a photo or a webpage, to instantly search for more information about it without needing to leave the app they are currently using or manually describe what they are looking at in a separate search query.

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8. Live Translate. Building on Samsung’s existing real-time translation tools, Live Translate provides on-the-fly translation for conversations and calls, allowing users communicating across different languages to understand each other in real time through the phone’s built-in AI processing.

9. Samsung Health AI tools, including Energy Score and AI Health Coach. The device’s AI capabilities extend into Samsung Health, where Energy Score uses sleep, heart rate and activity data collected from a paired Galaxy Watch to generate a daily energy rating along with personalized recommendations. A companion AI Health Coach feature offers customized fitness and nutrition suggestions based on a user’s logged health data and stated personal goals.

10. On-device, privacy-focused AI processing. Rather than routing all AI tasks through external servers, Samsung has emphasized that sensitive data, including calls, voice recordings and notes, is processed directly on the device by default and does not leave the phone, a design choice the company has detailed in its published AI privacy policy. The Galaxy Z Fold 8’s Snapdragon 8 Elite Gen 5 for Galaxy processor includes a dedicated neural processing unit specifically built to handle this kind of on-device AI workload efficiently.

Samsung has said all of the Galaxy AI features included on the Galaxy Z Fold 8 will remain available at no additional cost, though the company has left open the possibility that future premium features or third-party AI model integrations could eventually introduce subscription-based pricing tiers.

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The Galaxy Z Fold 8 itself features a 7.6-inch inner display, a 5.5-inch cover screen, and a redesigned hinge intended to reduce the visibility of the display crease that has historically been a point of criticism for book-style foldable phones. The device weighs 201 grams, which Samsung describes as its lightest foldable to date, and includes a 4,800mAh battery rated for up to 26 hours of continuous playback. The phone is available in 256GB, 512GB and 1TB storage configurations, with pricing starting at $1,899 in the United States for the base 256GB model. Samsung is also offering up to seven years of software updates for the device, extending the phone’s expected AI feature support well beyond the typical software lifespan of earlier smartphone generations.

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SpaceX’s Blockbuster Earnings Report Is Coming. What to Watch.

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SpaceX’s Blockbuster Earnings Report Is Coming. What to Watch.

SpaceX’s Blockbuster Earnings Report Is Coming. What to Watch.

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Maryland Confirms Its First Human West Nile Virus Case of 2026 as Health Officials Urge More Caution

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Firefighting Helicopters Collide Near Athens as Greece Battles Wind-Driven Wildfires,

The Maryland Department of Health announced Friday that a resident has tested positive for West Nile virus, marking the state’s first confirmed human case of the virus so far this year.

West Nile virus is transmitted to humans through the bite of mosquitoes that have themselves become infected after feeding on birds carrying the virus. In rare cases, the virus can also spread from person to person through organ donation, blood transfusion, breastfeeding, or from a pregnant mother to her fetus, according to the Maryland Department of Health.

The disease primarily affects the nervous system, though most people who become infected never develop noticeable symptoms. Up to 80% of people infected with West Nile virus will show no signs of illness at all, according to state health officials. Among those who do develop symptoms, common signs include fever, headache and body aches, which may occasionally be accompanied by a skin rash and swollen lymph glands. Symptoms can last anywhere from a few days to several weeks in people who become symptomatic.

While most infections resolve without serious complications, certain populations face a higher risk of severe illness from West Nile virus. People older than 50 and those with underlying immunocompromised conditions are more likely to develop serious illness if infected, according to the Maryland Department of Health, making prevention particularly important for those groups during periods of active mosquito transmission.

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Dr. Meg Sullivan, Maryland’s deputy secretary for public health services, emphasized that preventing mosquito bites remains the most effective way to protect against the virus. “Your best defense against West Nile virus is to protect yourself from mosquitoes, such as using insect repellent, covering exposed skin, and eliminating standing water near your home,” Sullivan said.

Standing water represents a particularly important target for prevention efforts, since mosquitoes require stagnant water to breed and lay eggs. Common sources of standing water around residential properties can include clogged gutters, unused flowerpots, birdbaths, discarded tires, and other containers capable of collecting rainwater, all of which can become breeding sites if left unaddressed during the warmer months when mosquito activity peaks.

West Nile virus was first identified in the United States in 1999 and has since become the most common mosquito-borne illness in the country, with cases reported annually across most states during the warmer months when mosquito populations are most active. The virus follows a seasonal pattern tied closely to mosquito activity, typically peaking during the summer and early fall before declining as temperatures cool and mosquito populations diminish heading into winter.

There is currently no vaccine available to prevent West Nile virus infection in humans, and no specific antiviral medication exists to treat the illness once contracted. Treatment for symptomatic cases generally focuses on managing symptoms through supportive care, such as rest, fluids and over-the-counter pain relief for milder cases, while more severe cases affecting the nervous system may require hospitalization.

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Public health officials commonly recommend a range of preventive measures beyond the use of insect repellent and elimination of standing water. These include wearing long sleeves and pants during peak mosquito activity hours, typically dawn and dusk, using screens on windows and doors to prevent mosquitoes from entering homes, and ensuring that any outdoor water features, such as ponds or fountains, are properly maintained or treated to prevent mosquito breeding.

Maryland’s confirmation of its first human case this year adds the state to the broader pattern of seasonal West Nile virus activity tracked nationally by public health agencies each summer. Health departments across affected states typically continue monitoring both human case counts and mosquito surveillance data throughout the summer and early fall, using that information to guide local public health messaging and, in some cases, targeted mosquito control efforts in areas where infected mosquito populations have been detected.

With the state’s first confirmed case of the year now on record, Maryland health officials are expected to continue monitoring for additional cases throughout the remainder of the summer mosquito season, and have reiterated their guidance urging residents, particularly older adults and those with weakened immune systems, to take proactive steps to reduce their exposure to mosquito bites in the weeks ahead.

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Mamdani Faces Backlash After His Judicial Screening Panel Includes No Jewish Members, Groups Say Now

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New York City mayoral candidate Zohran Mamdani, seen here on the day of the Democratic primary June 24, 2025, has little experience but has energized followers with a leftist campaign

New York City Mayor Zohran Mamdani is facing criticism from Jewish legal organizations after his newly appointed judicial advisory panel was found to include no Jewish members, prompting demands from bar associations that the mayor correct what they described as a significant omission.

Mamdani’s office announced the 19-member Mayor’s Advisory Committee on the Judiciary on July 22, describing it as a “truly representative cross-section” of New York City’s legal profession. The panel is responsible for screening and recommending candidates for judgeships across the city’s five boroughs and multiple court types, including Criminal Court, Family Court and, on an interim basis, Civil Court. Four Jewish bar associations, backed by the Anti-Defamation League, said no Jewish attorney, law professor or former judge was included among the appointees.

Elizabeth Forspan, head of the Brandeis Association of Queens, a Jewish bar group, said the omission stood out given the committee’s long history. “It was shocking for us to learn that this all important committee that every mayor since 1978 has put together did not include a single Jewish attorney, law professor, former judge,” Forspan said.

In a joint letter sent to the mayor on July 27, the presidents of the Brandeis Association of Queens, the New York County Jewish Lawyers Guild, the Brooklyn Brandeis Society and the Bronx County Jewish Bar Association said they were “deeply disappointed” by the committee’s composition. “Excluding Jewish representation from this committee is neither reflective nor inclusive,” the letter said. “It follows a troubling pattern that has left many Jewish New Yorkers feeling increasingly marginalized.” The letter urged Mamdani to “correct this exclusion” and “reaffirm that Jewish New Yorkers are entitled to the same representation, respect and protection as every other community.” New York City is home to the largest Jewish population of any city in the United States, and Jews are heavily represented within the legal profession from which the committee traditionally draws its members.

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The letter also pointed to the rejection of retired Appellate Division Justice John Leventhal, who is Jewish, during the committee’s vetting process, calling the decision “disconcerting” given what the groups described as a broader lack of outreach to Jewish attorneys. Mamdani spokesman Joe Calvello addressed that specific case directly, saying the mayor’s team declined to include Leventhal after learning the retired justice had served on the legal team representing Ghislaine Maxwell, the convicted associate of the late financier Jeffrey Epstein.

Mamdani forcefully denied that religion played any role in how the panel was assembled. “I did not ask for the religion of each of the person that was put forward,” he said during a press conference addressing the controversy. He said his broader commitment to diversity in judicial appointments includes the Jewish community specifically. “The thing that matters most to me is that in the judges that have been appointed and reappointed, that they do reflect that diversity of New York City, and that diversity includes Jewish New Yorkers,” Mamdani said.

Calvello separately pushed back on suggestions that the panel’s composition reflected discriminatory intent, telling reporters it was “false” to say the selection of committee members was “motivated by religion.” He noted that Mamdani has already appointed a dozen judges from a range of backgrounds during his time in office, including Jewish judges. Calvello did not specify whether other Jewish candidates had been considered for the advisory committee itself, and he did not directly dispute that none of the 19 appointees are Jewish.

The panel that drew criticism does include a range of other backgrounds. Its members include former prosecutors, former judges, law professors, public defenders and divorce attorneys, drawn from institutions ranging from CUNY to Ivy League law schools. Among them is Joseph Drayton, a partner at the law firm Proskauer Rose with decades of experience in commercial litigation, and Dianisbeth Acquie, a Harvard Law graduate who worked in the U.S. Attorney’s office for the Eastern District of New York before becoming assistant dean of judicial careers at Columbia Law School.

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The controversy adds to broader tension between Mamdani’s administration and segments of New York’s Jewish community, which has largely centered on the mayor’s positions regarding Israel and related foreign policy issues. Critics cited in the bar associations’ letter also pointed to Mamdani’s prior omission of Jewish communities from a map of New York’s ethnic enclaves and his decision to revoke a definition of antisemitism previously used by the city that some Jewish groups had supported.

Under former Mayor Eric Adams, Jewish attorneys had held seats on the same judicial advisory committee. The panel’s composition carries practical significance beyond symbolism, since it directly filters the pool of candidates considered for judgeships handling a wide range of cases, from criminal matters to family court disputes.

As of the most recent reporting, Mamdani had not indicated any plans to alter the committee’s current membership in response to the bar associations’ letter, leaving the dispute unresolved as of early August.

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