RBC raises Estée Lauder price target to $120 from $111.

Fractile is seeking about $600m in a new funding round at a $6.5bn pre-money valuation, people familiar with the matter said — more than six times its roughly $1bn valuation after a May round. The startup has reached a preliminary agreement to sell about $250m of AI inference chips to ANTHROPIC, with both sides planning to expand the partnership; the chips are expected to enter service in 2027. Fractile, founded in 2022, designs low-latency AI inference chips aimed at challenging NVIDIA’s dominance in AI hardware.

President Trump said the United States has no tariffs on Canada.