IBM (IBM.N) CEO said roughly 70% of daily financial transaction activity by value runs on mainframes. Clients typically spend $3–4 across IBM for every $1 invested in a mainframe. The AI boom will boost revenue because most clients require hands-on guidance.

FT reports AI-driven equity gains and investor exits from private equity and credit funds helped push hedge fund AUM up $409 bln last quarter to $5.6 tln, driven largely by strong investment performance. Funds suffered losses in volatile March after the outbreak of war in Iran but have since benefited from a rally led by chip names including Samsung, AMD and SK Hynix. HFR data show investor inflows of $134 bln over the past three quarters, the biggest three-quarter inflow since 2007. TriumCapital co-CEO Shenan Danani said he expects a ‘‘golden era’’ for hedge funds.

摩根大通：Alphabet(GOOG.O)回調提供買入良機。