Connect with us
DAPA Banner

Crypto World

LSEG Shares Surge 7.4% After JPMorgan and Goldman Sachs Defend Stock

Published

on

LSEG.L Stock Card

TLDR

  • LSEG shares rose by 7.4% on Thursday after a 19% drop in the previous two days.
  • JPMorgan and Goldman Sachs reassured investors by downplaying AI risks to LSEG’s business.
  • JPMorgan’s Enrico Bolzoni clarified that AI companies are working with LSEG, not replacing it.
  • LSEG’s partnership with Anthropic provided AI access to the company’s financial data.
  • Goldman Sachs analyst Oliver Carruthers set a price target of 14,550 pence for LSEG.

LSEG shares bounced back on Thursday, rising by 7.4% after facing a 19% drop in the prior two days. The rally followed reassurances from major financial institutions, JPMorgan and Goldman Sachs, who downplayed fears that artificial intelligence would threaten LSEG’s core business. The recovery came after a tumultuous period where AI-related market panic had hurt the stock.


LSEG.L Stock Card
London Stock Exchange Group plc, LSEG.L

Rebound Driven by Analyst Confidence

The sharp decline in LSEG shares began earlier in the week when Anthropic introduced its Claude Cowork product, designed to automate workplace tasks. Traders feared that AI advancements could severely impact companies like LSEG, which specializes in providing financial data, not software. However, JPMorgan’s Enrico Bolzoni stepped in to correct what he called “misunderstandings” surrounding LSEG’s business model, stating that AI would not replace but instead work alongside LSEG.

Bolzoni emphasized that LSEG is deeply involved in AI, noting the October partnership with Anthropic that provided the AI company access to LSEG’s financial data. This partnership, he argued, demonstrated LSEG’s pivotal role in the growing AI landscape, counteracting the market’s misconception that AI would push the company aside. “AI companies are working with LSEG, not replacing it,” Bolzoni clarified in his statement.

LSEG Shares: Calm After the Panic

Goldman Sachs also weighed in, with analyst Oliver Carruthers reiterating the value of LSEG’s data-driven business model. Carruthers downplayed the potential impact of AI, explaining that just 6% of LSEG’s revenue from workflow products might be exposed to any risk from automation. He further set a price target of 14,550 pence, which was the highest among analysts tracking LSEG.

The comments from both JPMorgan and Goldman Sachs played a significant role in calming investor nerves. Shares of LSEG, which had taken a hit in the wake of AI-related concerns, saw a sharp reversal, rising 7.4%. This bounce was a direct result of analysts stepping in to assure the market that LSEG’s core business was secure, even in the face of AI innovation.

Advertisement

The broader tech market also saw turbulence as fears over AI’s impact on the software and data sectors took hold. The Nasdaq 100 recorded its worst two-day drop since October, shedding over $550 billion in value. LSEG, despite being a data provider, became caught in the broader selloff, with tech investors looking to offload anything related to software or data businesses.

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Foundation Shuts Down NFT Marketplace After Failed Sale

Published

on

Foundation Shuts Down NFT Marketplace After Failed Sale

Foundation, one of the better-known Ethereum-based non-fungible token (NFT) marketplaces of the 2021 boom, is shutting down after the sale that was supposed to keep it operating fell apart.

Kayvon Tehranian, Foundation’s founder and CEO, took to X on Wednesday to announce the marketplace’s closure following a failed acquisition by the digital art distribution platform Blackdove.

Although Tehranian did not directly mention Blackdove, he said the original goal of the sale was to ensure the platform would continue operating under new ownership. “That’s no longer possible,” he said, adding that Foundation is not in a position to bring the marketplace back online.

Foundation later said the site would briefly return so users could delist NFTs, in a message signed by the Blackdove team.

Advertisement
Source: Foundation

The shutdown underscores the ongoing decline in NFT trading activity since the 2021 boom, as lower liquidity has left fewer independent marketplaces able to survive.

Foundation rose in the 2021 boom

Foundation was launched in early 2021, capturing a massive year for tokenized digital art, when some NFTs sold for as much as $69 million apiece.

According to Blackdove, the platform facilitated more than $230 million in primary sales for artists around the world, hosting NFT sales for artists like Jen Stark, James Jean and Reuben Wu.

Foundation also became a venue for digital art by US whistleblower Edward Snowden, whose NFT piece “Stay Free” sold for about 2,200 Ether (ETH) in 2021, worth roughly $5 million at the time.

Source: CozomoMedici

As broader NFT activity cooled after peaking in 2022, platforms like Foundation faced shrinking liquidity and fewer sustainable transaction flows. Blackdove initially announced Foundation’s acquisition in early 2025, with the platform announcing transitioning ownership a year later.

NFT market consolidation deepens

Foundation’s closure adds to a growing list of NFT platforms that have shut down or pivoted away from trading digital art recently, with the sector’s market cap falling back to pre-hype levels seen in 2021 as of February 2026.

Advertisement

Mint Blockchain, an NFT-linked infrastructure network built on Ethereum, also announced Friday that it has ceased operations and instructed users to withdraw assets.

This year alone, at least two other NFT platforms announced they were winding down operations, including Gemini exchange-backed Nifty Gateway and the social NFT platform Rodeo.

Top 10 NFT marketplaces by volume. Source: DefiLlama

MakersPlace shut down amid declining NFT activity last year, while X2Y2 wound down and pivoted away from NFTs. Crypto exchange Bybit has also closed its NFT marketplace as trading volumes fell.

Related: Yuga Labs settles lawsuit against artists accused of copying its NFTs

OpenSea has remained the dominant NFT marketplace despite the broader downturn, accounting for more than 73% of all activity across the sector at publishing time, with competition from rivals such as Blur, according to DefiLlama.

Advertisement

Despite the sharp decline in NFTs, some industry figures, including Animoca Brands chairman Yat Siu, predicted that the sector could recover and reach new all-time highs.

Magazine: Your guide to surviving this mini-crypto winter