“That’s when the deflationary impulse from falling oil prices should remind everyone that the Fed isn’t going to hike and that – if anything – the next move will be a cut,” Robin Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, said in a report.

If the currency’s strength is under question, then the barrier to bitcoin rising further also looks weaker. The two are known to be inversely correlated.

Some observers, however, are calling for caution, saying the market is overestimating the impact of oil prices on inflation. Elevated price pressures, they say, are now a structural issue.

“The Fed can’t declare victory simply because gasoline prices move lower. Sticky service-sector inflation is exactly why policymakers are likely to keep rates higher for longer, even if headline CPI continues moderating,” YCC Macro said on X.

Markets betting on aggressive easing may be underestimating how persistent underlying inflation really is,” YCC Macro added. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

What’s trending

Quick Overview

• Broadcom secured a contract extension with Apple for custom chip production lasting through 2031, reinforcing investor optimism
• Chip sector stocks experienced a strong recovery, with notable gains across AMD, Broadcom, and Micron
• SpaceX prepares for Nasdaq-100 inclusion, attracting significant institutional and index fund interest
• TeraWulf announced a massive $19 billion, two-decade AI data center agreement with Anthropic
• Strategy maintained market attention as a leading corporate Bitcoin holder

A wave of significant corporate developments swept through markets today, headlined by Broadcom’s extended Apple collaboration, a semiconductor sector recovery, SpaceX’s upcoming index milestone, TeraWulf’s blockbuster AI contract, and Strategy’s continued cryptocurrency focus.

Broadcom Secures Long-Term Apple Chip Supply Agreement

Broadcom experienced significant stock appreciation following confirmation that its custom semiconductor partnership with Apple will continue through 2031.

This extension solidifies Broadcom’s standing as a critical supplier within Apple’s semiconductor ecosystem. The arrangement provides enhanced revenue predictability for the coming years.

Broadcom delivers specialized silicon components, networking infrastructure, and wireless connectivity technologies essential for modern data center operations. This collaboration strengthens its foothold in the expanding AI infrastructure landscape.

Market participants typically respond favorably to long-duration contract announcements, and Monday’s trading activity reflected that sentiment.

Chip Sector Experiences Strong Recovery

Chipmakers powered the market higher during Monday’s session as capital flowed back into artificial intelligence-focused semiconductor companies following last week’s downturn.

The Philadelphia Semiconductor Index registered substantial gains. Companies including AMD, Micron, and Broadcom delivered impressive performances.

Market observers largely interpreted the previous week’s decline as a temporary consolidation rather than the beginning of a sustained downtrend. Ongoing AI infrastructure investments from cloud computing giants and corporate customers continue supporting sector growth.

The robust comeback indicates market confidence that the AI-driven investment wave will maintain momentum throughout 2026.

SpaceX Approaches Nasdaq-100 Membership

SpaceX is on track to enter the Nasdaq-100 Index, a development anticipated to generate substantial demand from passive investment vehicles.

The addition comes after the company’s transition to public markets and represents another milestone in its financial evolution. Membership in this prominent technology benchmark will introduce the stock to a significantly broader base of institutional capital.

Market watchers are particularly interested in SpaceX’s diversified revenue streams, encompassing Starlink satellite internet services, government defense partnerships, and ongoing Starship rocket advancement.

The enterprise is frequently identified as among the most compelling long-term growth opportunities within the commercial aerospace sector.

TeraWulf Announces Historic AI Infrastructure Partnership

TeraWulf emerged as a major market mover following disclosure of a 20-year, $19 billion arrangement to provide AI computing infrastructure capacity to Anthropic.

Originally focused on cryptocurrency mining operations, the company has strategically repositioned toward high-performance computing solutions for artificial intelligence applications.

This agreement exemplifies the broader industry shift as energy and computing providers reorient to capture explosive AI infrastructure demand. TeraWulf shares surged dramatically as market participants valued the extended revenue visibility.

The partnership ranks among the most substantial AI infrastructure commitments announced by an independent supplier in the market.

Strategy Maintains Bitcoin Market Prominence

Strategy remained in investor focus as a major publicly-traded Bitcoin accumulator.

The company’s equity performance demonstrates strong correlation with Bitcoin price movements, positioning it as a preferred vehicle for traditional investors seeking amplified cryptocurrency exposure through conventional equity markets.

Ongoing announcements regarding its funding approach and Bitcoin acquisition activity have sustained elevated market interest.

Given continued cryptocurrency market volatility, investors are closely monitoring the company’s capital allocation decisions and their implications for long-term shareholder value creation.

Interestingly, after a series of buys and sales over the past few weeks, the company is left with a net increase of only 69 bitcoin despite deploying roughly $20 million in additional capital, a crypto trader, KALEO, said on X. Because the company sold coins below the prices it had recently paid, the implied average cost of those additional holdings exceeded $289,000 per bitcoin, KALEO added.

Strategy now holds 843,775 bitcoin purchased at an average price of $75,476, maintaining its position as the largest publicly traded corporate holder of the cryptocurrency.

Despite the losses, today’s move to sell millions of dollars’ worth of bitcoin will likely signal to investors that Strategy will go to whatever lengths necessary to protect its dividends on its high-yielding preferred stock, Stretch (STRC), whose dividend now stands at 12% after a recent 50 basis-point increase.

Indeed, while bitcoin and Strategy’s common stock, MSTR, are lower on Monday, STRC continues to rebound from last week’s low below $75, rising another 2.1% to just shy of $90.

The ‘strategy’

Given the zigzags in strategy over the past few weeks, the company’s near-term capital allocation has become harder for investors to predict. Assuming relatively stable prices for BTC, MSTR, and STRC, it’s probably safe to say that bitcoin buys are off the table for the foreseeable future.

Key Highlights

• PANW reached a record peak of $358.31 on July 6, 2026
• Year-to-date gains stand at 94%, with a 77% increase over 12 months
• The stock has surged 32% since mid-June, powered by AI-driven cybersecurity needs
• CNBC’s Jim Cramer endorsed PANW as a buy in January 2026, praising CEO Nikesh Arora’s leadership
• Multiple Wall Street firms including FBN Securities, Cantor Fitzgerald, and William Blair maintain optimistic outlooks

Palo Alto Networks stock climbed to an unprecedented high of $358.31 on July 6, 2026, marking a 2.71% gain for the session. The cybersecurity giant’s valuation now stands at $289 billion.

Palo Alto Networks, Inc., PANW

The stock has delivered remarkable returns this year, posting a 94% advance year-to-date. Looking back twelve months, shares have appreciated 77%, while the half-year performance shows an impressive 87% jump.

The momentum has been particularly strong in recent weeks. From June 10 through the current session, PANW has rocketed 32% higher.

This latest surge correlates with heightened enterprise investment in sophisticated cybersecurity solutions as artificial intelligence-enabled attacks grow increasingly sophisticated. Industry observers note that organizations are ramping up expenditures on platforms like Palo Alto Networks’ offerings as AI-powered threats become more elaborate and dangerous.

The journey hasn’t been without turbulence. On March 27, shares tumbled 6% following reports that AI systems — including technology from Anthropic — might be leveraged to identify software vulnerabilities, raising questions about the long-term outlook for cybersecurity firms.

However, the market’s concerns proved short-lived. The prevailing sentiment has since reversed dramatically: AI-related threats are now viewed as catalysts for increased cybersecurity investment rather than risks to security vendors.

Wall Street’s Perspective

The analyst community has embraced an overwhelmingly positive stance. FBN Securities lifted its price objective to $330 while maintaining its Outperform designation. Cantor Fitzgerald reaffirmed its Overweight rating alongside a $340 target, highlighting that both revenue and NGS ARR exceeded projections.

William Blair upgraded its fiscal 2026 free cash flow projection to $4,225 million, modeling a 37% free cash flow margin. This forecast aligns closely with the company’s own guidance regarding cash generation capabilities.

PANW’s latest quarterly results showed revenue surpassing consensus forecasts by 2%, representing an improvement compared to previous reporting periods.

It’s worth noting that InvestingPro analysis indicates the shares are presently trading above their Fair Value calculation, a consideration given the stock’s rapid appreciation.

Cramer’s Endorsement and Institutional Backing

In January 2026, CNBC personality Jim Cramer designated PANW as a buy opportunity, emphasizing CEO Nikesh Arora’s proven execution abilities. This represented a significant shift, as Cramer had previously maintained a more reserved stance on the security firm.

“Palo Alto’s a terrific company. I think it is a buy,” Cramer stated during his endorsement.

Brown Advisory’s Large-Cap Growth Strategy revealed a PANW holding in its first quarter 2026 shareholder communication. The investment firm disclosed that it established the position during a market weakness period triggered by AI disruption anxieties and concerns about acquisition integration challenges. Brown Advisory characterized these worries as exaggerated.

The investment manager emphasized Palo Alto Networks’ strategic emphasis on platform consolidation, where corporate customers aggregate multiple security products under a single vendor relationship, as a critical expansion opportunity. The fund also underscored robust free cash flow generation and dependable operational performance.

Shares are currently changing hands just 1% beneath the 52-week peak established during today’s trading session.

Bitcoin miner TeraWulf, moving deeper into AI infrastructure, signed a 20-year data center lease with Anthropic expected to generate about $19 billion in contract revenue.

The company also announced Monday that it is selling a majority stake in a separate AI data center joint venture to reinvest in wholly owned projects.

The company’s shares rose about 12% in Monday morning trading following the announcement, extending a roughly 107% year-to-date gain, according to Yahoo Finance data at the time of writing.

TeraWulf stock price. Source: Yahoo Finance

Under the agreement, Anthropic will lease a purpose-built AI data center campus at TeraWulf’s Justified Data site in Hawesville, Kentucky. Acquired in February, the facility is designed to support 401 MW of critical IT capacity, with initial operations expected in the second half of 2027 and full buildout targeted for early 2028.

Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture, an AI data center project in Texas, to an investor group led by partner Fluidstack. The company said it expects the sale to return its roughly $450 million investment which it plans to reinvest in AI infrastructure projects that it owns outright.

Related: Strategy sells 3,588 Bitcoin for $216M to fund dividends, keeps $2.55B reserve intact

AI demand reshapes Bitcoin mining industry

The announcement comes as demand for AI infrastructure outpaces available computing capacity. Training and running large AI models requires data centers with high-performance chips, advanced cooling systems and access to large amounts of reliable electricity, making power-rich campuses increasingly valuable.

That has created an opportunity for several Bitcoin miners, which already own sites with grid connections, power agreements and other infrastructure needed for energy-intensive computing. While AI data centers use different hardware than crypto mining operations, the overlap has prompted several miners to diversify into AI and high-performance computing (HPC).

However, the pivot comes with significant costs. Blocksbridge Consulting estimated in June that public Bitcoin miners pursuing AI infrastructure may need roughly $50 billion in near-term capital, as AI data centers require far greater investment than traditional Bitcoin mining facilities.

Last month, HIVE Digital signed a three-year, $220 million agreement to provide GPU cloud infrastructure for AI startup Cohere through Bell Canada’s AI Fabric, while IREN acquired Spanish data center developer Nostrum Group, adding about 490 MW of secured, grid-connected power as it entered the European AI market.

Magazine: AI is banking the unbanked in Africa… faster than crypto

Circle’s USDC stablecoin widened its lead over competitor Tether’s USDT by transaction volume during the first half of 2026, according to fresh data from Visa’s onchain dashboard.

In June alone, stablecoin activity increased to a record $1.79 trillion in adjusted transaction volume, up 63% from May’s $1.1 trillion and 125% from about $795 billion in June 2025. Visa removes bot activity, exchange transfers and other blockchain transactions that do not reflect real economic activity before calculating adjusted volume.

These figures come as banks and other financial institutions expand their use of stablecoins for payments, settlement and treasury operations. Standard Chartered and BNY recently added services around Circles’s USDC rather than building their own infrastructure which also reflects a broader shift toward using established stablecoin networks as activity and demand for fiat-pegged digital assets increases.

The first six months of the year totaled $8.82 trillion in adjusted stablecoin transaction volume. That is more than the $5.8 trillion recorded during all of 2024 and $2 trillion less than the record $10.8 trillion reported in 2025.

USDC accounted for about 70% of adjusted transaction volume during the first half of 2026. USDT represented roughly 25%..

The UK Financial Conduct Authority (FCA) has published a wide-ranging blueprint for how retail financial services should be regulated as “agentic” AI pushes firms toward near-total automation. In its landmark report, “AI and the future of retail financial services”, FCA executive director Sheldon Mills argues that the industry is moving away from human-led, episodic decisions and toward continuous services delegated to AI systems.

The review, issued as regulators grapple with the speed of generative AI deployment and growing experimentation with blockchain-based finance, frames settlement infrastructure as a key constraint. It suggests that advanced automation will require financial plumbing capable of processing transactions instantly and reliably—something the FCA implicitly contrasts with slower legacy settlement processes.

Key takeaways

• The FCA says retail financial services are shifting from human-led decisions to AI-enabled, continuous and delegated activity.
• The report calls for regulatory work that supports “agentic finance,” including trusted agent protocols.
• It highlights governance and accountability challenges that emerge when AI systems operate autonomously on consumers’ behalf.
• The FCA’s research indicates consumer openness to AI-assisted choices is already material, with 20% of UK adults reportedly willing to let AI make autonomous financial decisions.

An “autonomy spectrum” for retail finance

At the center of the Mills Review is what the FCA describes as an “autonomy spectrum,” reflecting how AI capabilities are evolving from recommending actions to executing them. Mills argues that as models become more independent, humans may increasingly shift into a more passive role—sometimes acting only as observers while AI continuously manages capital.

In the report’s framing, this evolution is not merely about better predictions. Instead, it is about delegation: systems that can be empowered, trained, and authorized to act. That creates a regulatory problem that is different in kind from earlier AI use cases, because the risk no longer rests only with advice or decision support. It rests with operational authority.

The FCA also links the acceleration of this shift to the pace of generative AI. The review notes that more than 20 “frontier models” have been released since late 2025, suggesting firms are moving faster than prior regulatory timetables.

Why settlement speed becomes a regulatory issue

The report connects autonomy to execution. The FCA says that for AI agents to carry out multi-layer transaction strategies smoothly, they require programmable and near-instant settlement mechanisms. By contrast, traditional processes with multi-day latency are described as an operational bottleneck for fully automated finance.

In the FCA’s discussion, systemic stablecoins and tokenized assets are positioned as a potential fit for this need. Because these instruments can be natively issued and transferred on programmable ledger networks, they may enable atomic settlement—where transactions are coordinated in a way that reduces friction and dependency on human clearance.

Importantly, the review does not claim that tokenized settlement is automatically “the answer.” Rather, it highlights a structural challenge: automation at the agent level will stress-test existing financial infrastructure that was built for human workflows and periodic actions.

Accountability, governance, and the “human on the hook” principle

Automation at retail scale also raises questions about who is legally responsible when agents act in unexpected ways. The Mills Review warns that allowing autonomous systems to make and execute decisions introduces severe corporate governance risks, particularly around legal accountability.

The FCA notes industry anxiety about the ambiguity of intention—whether it is possible to reliably distinguish human intent from algorithmic behavior once systems can act continuously and at speed. The report references this concern through industry commentary, including the view that the sector may eventually need something akin to a “Turing test” to separate human intent from machine-driven actions.

In separate remarks, Mills told the Financial Times ahead of the report’s release that accountability must remain anchored to humans. According to his comments, “You need a human on the hook for what they’re doing,” reflecting the FCA’s broader emphasis that operational delegation must not eliminate responsibility.

The Payments Association CEO Emma Banymandhub echoed the governance theme in a statement, saying the FCA’s review “reinforces that firms should treat agentic AI as an accountability and governance issue now,” while maintaining that governance, clear accountability, and consumer trust will determine whether AI’s potential can be realized responsibly.

Recommendations for “agentic finance” and the FCA’s AI capabilities

In its 147-page review, the FCA sets out seven recommendations it says should inform how it responds to the next phase of AI in retail financial services. Among them is an explicit push toward enabling “the foundations for agentic finance”—work intended to support trusted agent protocols that underpin how agentic AI can be used safely.

The report also flags the FCA’s internal capacity, recommending that it consider scaling up its AI Lab to support AI models and system innovation in financial services. The underlying message is that regulatory capability has to evolve alongside the technology it is designed to oversee.

That aligns with the FCA’s earlier steps. The regulator launched the review in January to examine the implications of advanced AI for consumers, retail financial markets, and regulatory oversight (as noted in the FCA’s January press materials).

Still, the report’s most practical impact may be indirect: by framing agentic AI as a continuous, delegated operating model, it implicitly increases pressure on firms to rethink not just their AI tools, but their end-to-end control framework—from authorization and monitoring to dispute handling and accountability trails.

What to watch next

As the FCA turns its recommendations into concrete regulatory expectations, the key uncertainty is how it will balance innovation with enforcement—especially in cases where AI agents execute transactions at speed. Investors and builders should watch for clearer standards on governance, accountability, and how (or whether) tokenized settlement infrastructure fits into the FCA’s definition of safe, trusted automation.