China’s AI chip firms are going public fast. But its crown jewel is staying private | Bank of A…

Explore the latest developments concerning China’s AI chip.

China’s AI chip firms are going public fast. But its crown jewel is staying private

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Bank of America Upgrades Coinbase to 'Buy' on Base Prospects, Tokenization Tailwinds

Bank of America Upgrades Coinbase to 'Buy' on Base Prospects, Tokenization Tailwinds

Bank of America analysts upgraded Coinbase to “Buy” from “Neutral” on Thursday, describing the exchange as a leader in tokenization that stands to benefit from its own blockchain network.

Without changing their price target of $340 per share, the bank’s analysts wrote in a note that the exchange’s outlook improved following its debut of several products last month. Stock trading and predication markets are among those that could broaden revenue, they wrote.

Still, as asset managers grow increasingly interested in issuing digital representations of securities like exchange-traded funds, the analysts argued that Coinbase is in a unique position compared to its competitors, highlighting a non-consumer-facing product.

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