Author: Sai Krishna

IBM and Siemens Collaborate on Research to Advance Nanostack Architecture

Collaboration aims to accelerate development of the manufacturing and design capabilities needed for future nanostack generations

ALBANY, N.Y., Oct. 14, 2026 /PRNewswire/ — Today, IBM (NYSE: IBM), in collaboration with Siemens, announced new research aimed at advancing IBM’s nanostack architecture, a new transistor architecture unveiled by IBM earlier this year. The collaboration will bring together IBM’s leadership in semiconductor device innovation and Siemens’ expertise in electronic design automation (EDA), process simulation, lithography optimization, and advanced manufacturing software to accelerate the development of nanostack.

Nanostack is the industry’s first known three-dimensional, nanosheet-based design, vertically stacking and staggering transistors to pack more transistors onto a chip, with nearly 100 billion transistors in a space the size of a fingernail at its current 7 angstrom node. The design also unlocks the use of different material combinations within each stacked layer to optimize performance and power efficiency of each transistor independent of the other. These innovations power substantial leaps in energy efficiency, performance, and SRAM scaling.

Earlier this year, IBM demonstrated the viability of the nanostack architecture. Now, additional advances are needed to prepare the technology for manufacturing and production at scale.

Through this collaboration, IBM and Siemens will work to advance the design, simulation, and lithography techniques needed for this and future nanostack generations beyond the current 7 angstrom node. The collaboration includes developing advanced virtual models of nanostack in order to model performance, optimize designs, and address fabrication challenges before chips are built.

“Nanostack is a scalable transistor platform designed to shift device scaling from 2D to 3D, representing a new paradigm for the semiconductor industry and a path forward for the logic scaling needed to support AI and other emerging technologies over the coming decade,” said Huiming Bu, Vice President of Silicon Technology R&D, IBM. “We are thrilled to work with Siemens as we continue to advance this technology and explore new approaches to extend angstrom-level scaling with nanostack.”

“Scaling semiconductors into the angstrom era demands tightly coupled co-optimization between device physics, EDA design and manufacturing software, and manufacturing. As physical AI places extraordinary demands on silicon architecture, IBM’s 3D nanostack design represents a pivotal leap forward,” said Ankur Gupta, Executive Vice President, EDA IC Portfolio, Siemens. “Siemens’ collaboration with IBM to advance virtual modeling, simulation, lithography, and design software optimizations needed to address physical limitations early and accelerate the development of these complex architectures is truly pioneering.”

By combining IBM’s semiconductor leadership with Siemens’ advanced EDA software and simulation technologies, the companies aim to accelerate technology development cycles and advance the manufacturing foundation necessary for bringing nanostack toward production.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Media contact:

Willa Hahn

IBM Communications

willa.hahn@ibm.com 

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Spinnaker Support Names Mark Fetches Global Chief Technology Officer

Expanded Role Unites Regional CTOs, Solution Consulting and Technical Account Management in One Global Organization

DENVER, Oct. 14, 2026 /PRNewswire/ — Spinnaker Support, the third-party software support leader entrusted by 1,300+ global clients, today announced the promotion of Mark Fetches to Global Chief Technology Officer (CTO). In the expanded role, Fetches brings the company’s regional CTOs, solution consulting team and technical account managers (TAMs) together into a single global organization. He will report to Chief Revenue Officer Pete Castello and join Spinnaker’s Go-to-Market Leadership Team, strengthening the connection between customer business priorities and Spinnaker’s technical sales and advisory capabilities.

“Customers choose Spinnaker for the expertise of our people,” said Matt Stava, CEO of Spinnaker Support. “Mark showed in EMEA how much customers value close technical engagement from the start. With him leading these teams globally, we can bring that same level of guidance to every region, helping customers solve immediate challenges and plan for what comes next.”

The new structure connects the technical guidance customers receive during evaluation with the expertise they rely on throughout their relationship with Spinnaker. Solution consultants who assess Oracle, SAP, VMware or PostgreSQL environments will now work alongside the TAMs and regional technology leaders who guide customers after the engagement begins. Iain Saunderson, chief technology officer for the Americas, will report to Fetches. Phil Wilkins, technical account manager and enterprise technical architect, and Sree Sakamuri, director of solution consulting, will also join Fetches’ organization.

Fetches previously served as Spinnaker’s CTO for EMEA, where he strengthened technical engagement with clients and connected their business priorities with Spinnaker’s capabilities. He brings more than 30 years of technology consulting and leadership experience from Accenture, Deloitte, and PwC. In those roles, he led customer-facing technical teams and advised C-suite executives and boards on digital, cloud, AI and enterprise transformation programs. Fetches is based in the UK and holds TOGAF and ITIL certifications.

“The best time to talk about modernization is before an upgrade or renewal forces the issue,” said Fetches. “That’s when customers have the greatest freedom to evaluate their options and move forward on their own terms. By bringing together our regional CTOs, solution consultants and technical account managers, we give customers access to the right expertise from the first conversation through execution.”

The promotion comes amid double-digit growth for Spinnaker, as more enterprises turn to independent support for greater control and flexibility. It follows several leadership appointments in 2026, including Rex Young as chief information officer in August and Vivek Pruthi as managing director for APAC. Spinnaker also promoted Martin Biggs to vice president and general manager of its PostgreSQL practice alongside the September launch of new PostgreSQL offerings to help enterprises reduce Oracle database dependency.

Resources:

• When AI Doesn’t Understand Your ERP
• How Madrilena Gas Ensured Stability and Savings with Spinnaker
• How Telkom Turned Oracle Support Savings into Digital Investment
• How a National Telecommunications Provider Stabilized Critical Systems and Reset Its IT Strategy

About Spinnaker Support

Spinnaker Support delivers independent third-party support and expert services for Oracle, SAP, VMware, and PostgreSQL environments. Its support, maintenance and modernization services help organizations run, optimize and transform their enterprise technology environments. It empowers customers to reduce vendor dependency and align technology strategies with business objectives. Spinnaker Support is trusted worldwide, including in highly regulated industries, giving organizations greater choice, control, and flexibility to unlock long-term value and transformation. For more information: www.spinnakersupport.com. Follow Spinnaker on LinkedIn.

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Nuvei secures license to offer local payment acceptance in South Africa

MONTREAL, Oct. 14, 2026 /PRNewswire/ — Nuvei, the global fintech building the infrastructure for every payment, everywhere, today announced that it has secured authorization from the Payments Association of South Africa (PASA) to offer local merchant payment services in South Africa, expanding its ability to support global brands and local businesses through its global payments platform.

The authorization advances Nuvei’s Every Payment Everywhere strategy, extending its presence within domestic payment ecosystems to help businesses optimize payment performance in every market they operate. By adding South Africa to its network, Nuvei is extending its local acquiring and payment acceptance infrastructure, transaction data, and operational controls to another major market, accessible through a single global platform.

Phil Fayer, Chair and CEO of Nuvei, said: “Commerce is global, but payment performance is local. Our expansion into South Africa is another step towards giving businesses access to locally optimized payment capabilities at global scale. South Africa is one of Africa’s most important digital commerce markets, and strengthening our presence here creates new opportunities for international businesses entering the region and South African companies expanding globally.”

A growing digital commerce market

South Africa’s B2C ecommerce market grew by an estimated 9.9% in 2025 to reach $8.48 billion, according to research published by PayNXT360. The market is forecast to expand at a compound annual growth rate of 8.3% through 2029, reaching approximately $11.66 billion. This continued growth is increasing the importance of locally optimized payment performance for businesses competing in the market.

Bringing global brands closer to the local market

Processing transactions domestically can improve authorization rates compared with cross-border acquiring, reduce processing costs, and give businesses more complete visibility into transaction performance. Direct access to local transaction data also supports more precise fraud management and enables businesses to identify and address sources of payment friction more effectively.

Global brands entering South Africa will be able to access these capabilities through the same Nuvei integration they use across other markets. Businesses already serving South African consumers cross-border will be able to establish a more locally optimized payments operation without adding a separate gateway, acquiring relationship, and reporting environment. That gives them room to adapt the checkout experience to local expectations while managing authorization, fraud prevention, reconciliation, and reporting through one platform.

About Nuvei

Nuvei is the global fintech building the infrastructure for every payment, everywhere. Its flexible platform supports the full transaction lifecycle, giving the world’s leading companies a single partner for local and cross-border commerce at scale, including the emerging wave of AI-driven agentic commerce. With reach in more than 190 markets, local acquiring in 50+ countries, 150 currencies, and over 720 alternative payment methods, Nuvei brings global infrastructure and local expertise to every market its customers serve.

Learn more at Nuvei.com

Contact:

Public Relations

alex.hammond@nuvei.com

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Oracle NetSuite Announces Launch of AI-first QuickStart: NYSE Content Update

NYSE issues a pre-market daily advisory direct from the trading floor.

NEW YORK, Oct. 14, 2026 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

Kristen Scholer delivers the pre-market update on October 14th

• Oracle NetSuite announces the availability of AI-first financial platform NetSuite QuickStart. 
  • NetSuite QuickStart is designed for early-stage technology startups.
  • Business founders can engage with trusted data in QuickStart via the AI tools they already use, including Claude and ChatGPT.
  • Oracle NetSuite Co-founder + EVP Evan Goldberg will join NYSE Live to discuss how QuickStart can help founders elevate their businesses. 
• Reflect Orbital announces the purchase of two Skyroot Aerospace launches for future spacecraft.
  • By redirecting sunlight from orbit, Reflect aims to extend electricity generation at solar farms and provide light to help search-and-rescue teams find people at night and construction crews work more safely after dark.
  • Tune into NYSE Live to hear Co-Founder and CEO Ben Nowack share how it plans to fulfill its mission of delivering sunlight to precise locations on earth.
• BSR Real Estate Investment Trust officially begins trading on the New York Stock Exchange today.
  • The company’s portfolio is valued at approximately $1.4 billion, with roughly 90% of net operating income generated from the Texas Triangle markets of Austin, Houston, and Dallas.
  • To celebrate its NYSE listing, BSR REIT’s officers and Board of Trustees will ring the Opening Bell at the New York Stock Exchange. It will trade under the ticker BSRT.
• The AUSA Annual Meeting & Exposition concludes today in Washington, D.C.
  • More than 40,000 attendees from over 100 countries have come together as they look to shape the future of national security.
  • Participating companies include RTX, Boeing, General Dynamics, and Northrop Grumman.

Opening Bell

BSR REIT (NYSE: BSRT) celebrates its first day of trading on the NYSE

Closing Bell

Warburg Pincus celebrates its 60^th anniversary

For market insights, IPO activity, and today’s opening bell, download the NYSE TV App and check out the NYSE YouTube: TV.NYSE.com and YouTube.com/@NYSEofficial

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MIT Bengaluru Inaugurates Quantum-Hub@MAHE to Advance India’s Quantum Technology Ecosystem

New facility at the MAHE Bengaluru campus to strengthen quantum engineering, research, innovation and workforce development

BENGALURU, India, Oct. 14, 2026 /PRNewswire/ — Manipal Institute of Technology, Bengaluru (MIT Bengaluru) on Tuesday launched Manipal House of Quantum, Quantum-Hub@MAHE. Established by Manipal Academy of Higher Education (MAHE), an Institution of Eminence Deemed to be University, the initiative will advance quantum hardware experimentation, engineering education and indigenous technology development in alignment with India’s National Quantum Mission.

The facility was inaugurated by Chief Guest Dr. Sridhar Vembu, Chief Scientist & Co-Founder, Zoho Corp, and Guest of Honour Dr. Marcus Rommel, CTO, ConScience, in the presence of Dr. Sharath K. Rao, Vice Chancellor, MAHE; Lieutenant General (Dr.) M. D. Venkatesh, VSM (Retd.), 7th Vice Chancellor, MAHE and Advisor to MEMG; Prof. (Dr.) Madhu Veeraraghavan, Pro Vice Chancellor, MAHE Bengaluru; Dr. Karunakar A. Kotegar, Pro Vice Chancellor, Technology & Science, MAHE; Dr. Raghavendra Prabhu, Additional Registrar, MAHE Bengaluru; Prof. Iven Jose, Director, MIT Bengaluru; and Mr. Vishal Chatrath, Co-Founder & CEO, QuantrolOX.

Located at the MAHE Bengaluru campus, the quantum facility at MIT Bengaluru provides students, researchers and industry collaborators with hands-on access to advanced quantum computing infrastructure, including quantum hardware, cryogenic systems and quantum control technologies. Through an integrated academic framework, the facility will support experimentation, application development, deep-tech start-up incubation, component innovation, testing and translational research, positioning MIT Bengaluru as an emerging centre for quantum engineering and indigenous hardware development.

The facility commences operations with a 25-qubit open-architecture dilution refrigeration system designed for advanced training and experimentation. This marks the first phase of a structured roadmap progressing from sub-50-qubit training systems to 150-qubit proof-of-concept platforms and, ultimately, to industrial-grade quantum product systems with more than 1,000 qubits.

Speaking at the inauguration, Dr. Sridhar Vembu, Chief Scientist & Co-Founder, Zoho Corp, said, “Q-HUB is a place for students to dream, think deeply and turn their ideas into conviction and action. Just as personal computers and the internet transformed possibilities for my generation, quantum computing can empower this generation to build new machines, create breakthrough applications and take India to greater heights.”

Highlighting MAHE’s commitment to emerging technologies, Dr. Sharath K. Rao, Vice Chancellor, MAHE, said, “The MAHE House of Quantum at MIT Bengaluru reflects MAHE’s commitment to building advanced scientific capabilities and nurturing talent in emerging technologies. By creating access to modern quantum infrastructure, we aim to contribute meaningfully to India’s growing quantum ecosystem.”

Prof. (Dr.) Madhu Veeraraghavan, Pro Vice Chancellor, MAHE Bengaluru, said, “The Hub brings together education, research and innovation on a common platform. It will create opportunities for interdisciplinary collaboration and help translate academic research into real-world technological impact.”

Prof. Iven Jose, Director, MIT Bengaluru, said, “The quantum facility at MIT Bengaluru will provide students and researchers with valuable exposure to real quantum systems and engineering environments. It marks an important step towards developing the next generation of quantum scientists, engineers and innovators.”

Ahead of the launch, faculty members and students from the Bengaluru and Manipal campuses completed specialised training at the MIT Bengaluru campus and the QuantrolOx laboratory at QuTech, TU Delft, in the Netherlands. The programme developed practical capabilities in dilution refrigerator assembly, cryogenic systems, quantum control technologies, QPU measurements and superconducting quantum hardware, preparing the team to support the operations of the quantum facility at MIT Bengaluru.

The facility will support learning and research in areas such as healthcare, pharmaceuticals, oncology, aerospace and advanced computing. It will also strengthen MIT Bengaluru’s collaboration with industry and research organisations while developing a future-ready talent pipeline in quantum technologies.

The initiative has been formalised through Memorandums of Agreement with QuantrolOx of Finland, in association with Bluefors of Finland, Qblox of the Netherlands and ConScience of Sweden. These collaborations establish a first-year roadmap focused on workforce development, hardware experimentation, intellectual property co-development and national testing infrastructure.

As part of its workforce development efforts, the quantum facility at MIT Bengaluru aims to train 100 quantum engineers by December 2026. It will also conduct quantum awareness programmes, summer and winter camps for Class 10 and Class 12 students across rural India, short hands-on exposure programmes and capacity-building initiatives for technical professionals.

The facility will provide researchers, start-ups and industry partners with access to advanced quantum testing and measurement infrastructure, strengthening interdisciplinary collaboration, innovation and India’s growing quantum technology ecosystem.

About Manipal Academy of Higher Education 

Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed to be University. MAHE offers over 400 specialisations across Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T&S) streams through its constituent units at campuses in Manipal, Mangalore, Bengaluru, Jamshedpur, and Dubai. With a remarkable track record in academics, state-of-the-art infrastructure, and significant contributions to research, MAHE has earned recognition and acclaim both nationally and internationally. In 2020, the Ministry of Education, Government of India, awarded MAHE the prestigious Institution of Eminence status. Currently ranked 3rd in the National Institutional Ranking Framework (NIRF) 2025 rankings, MAHE is the preferred choice for students seeking transformative learning experience and enriching campus life, as well as for national and multinational corporations seeking top talent.

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RuleMudra Launches a Fully Digital Platform for Short-Term Personal Loans in India

A platform driven by technology, which seeks to make short-term loans easier and more open via consensual verification, responsible assessment, and disbursement through RBI licensed lending partner(s)

NEW DELHI, Oct. 14, 2026 /PRNewswire/ — RuleMudra, a digital Lending Platform operated by TwoMinutes Fintech Private Limited, has launched a technology-led platform for facilitating short-term personal loans through RBI-regulated lending partners.

The platform has been launched for Indian borrowers who have a genuine need for funds, due to unforeseen circumstances like an unexpected medical expense, delayed payment, urgent travel, education expenses, rent or other family expenses.

The eligible customers can make use of their smartphones to apply for the loan, undergo the process of verification and understand the terms of the loan that suits them. After completion of the above process, the funds are directly transferred to the borrower’s bank account.

RuleMudra allows customers to get loan offers between ₹5,000 and ₹1 lakh depending upon eligibility, income, repayment capacity, and the credit policy of the lending partners.

Designed Around Real Financial Scenarios

There may not always be forewarning of a need for financial bridging. This situation could arise between two paychecks or during any other urgent situation where a payment cannot be delayed.

Besides figuring out how to arrange for the money, many consumers have questions about who to trust, the costs involved in the borrowing or whether some vital information is hidden in the fine print.

RuleMudra strives to simplify this process by combining verification, offer evaluation and e-contracting in one process. This process is paperless but includes all relevant KYC, income, credit and repayment capability tests.

The company says the platform has been created to support informed borrowing rather than encourage people to take credit unnecessarily.

A Conversation with RuleMudra’s Managing Director

Speaking about the idea behind the platform, Mr. Lavit Dighe, Managing Director, RuleMudra, said that digital lending needs to solve more than the problem of speed.

What prompted the launch of RuleMudra?

“We observed that someone who needs money in the short term always faces two questions simultaneously. One is about getting their problem solved, but the other is whether the platform is credible and if they have understood the process of repaying their debt.”

“That is the gap RuleMudra has been designed to address. We wanted to create an experience that feels simple to the customer without removing the checks and disclosures that responsible lending requires.”

How does RuleMudra balance convenience with responsible lending?

“Convenience cannot override proper assessment. Although a digital journey could mean less paperwork and less wait time, each applicant has to go through the process of verification. The final decision on loan approval rests on the regulated lending partner’s assessment of the client’s eligibility and their repayment capacity.”

“Our function is to help in the process and make it easier for the user to comprehend the information. We do not believe that responsible credit should be positioned as money available without questions or checks.”

Depending on the lending partner and the applicant’s profile, verification may include PAN, Aadhaar or other permitted identity checks, bureau information, income assessment, bank-account verification, Video KYC or liveness verification.

Account Aggregator-supported verification may also be used with the customer’s express consent, where applicable. This may enable the platform to digitally analyse the financial eligibility and lessen dependency on manual submission of bank statements.

What makes transparency so crucial to the platform?

“When a person is dealing with an urgent expense, it is easy to focus only on the amount being offered. But the interest rate, APR, processing fee, tenure, repayment schedule and total amount payable matter just as much.”

“Borrowers should have the opportunity to review these details before accepting an offer. We want customers to understand what they are agreeing to—not discover the cost later.”

Eligible applicants can look at the relevant Key Fact Statement and the terms of the loan before digitally accepting the offer. These could be the approved amount, Annual Percentage Rate, fees applicable, taxes, and repayment plan among others.

RuleMudra has a provision for an online RuleMudra Loan Calculator that will enable their customers to calculate the potential finance involved before going ahead and applying for the loan. The calculator displays an approximate EMI, amount of interest to be paid, repayment total and charges applicable if any, by providing the loan amount needed and tenure required. This is not the exact amount but the amount to be calculated is dependent on the customer’s eligibility and loan offer made. By making these details easier to review in advance, RuleMudra aims to promote transparency and help customers make better-informed borrowing decisions.

Does automation guarantee that all applications are instantly approved?

“No, and that distinction is important. Automation can make verification and assessment faster, but it cannot guarantee approval. Each application is evaluated according to the regulated lender’s credit policy.”

“Terms such as ‘quick’ or ‘instant’ should describe the potential efficiency of the digital process. They should never be interpreted as guaranteed approval or lending without verification.”

RuleMudra also clarifies that “zero paperwork” refers to the paperless nature of the journey. It does not mean that an applicant can receive a loan without submitting the required information or completing KYC and eligibility checks.

What should customers consider before borrowing?

“The first question should always be whether the expense is genuine and necessary. The second is whether the repayment will fit comfortably within the monthly budget.”

“A short-term loan can help manage a temporary gap, but it should not create a longer financial problem. We encourage customers to review the complete cost, consider their existing obligations and borrow only an amount they can reasonably repay.”

Building Trust Alongside Technology

RuleMudra’s platform combines digital verification, automated decision support and paperless documentation with customer consent and clear loan disclosures.

Once everything is approved, all checks have been completed, the funds are then transferred to the borrower’s verified bank account. The process might be expedited for those who qualify and have already been verified.

The company thinks that the future of online credit is going to depend not only on speed, but also clarity with which the platform communicates with its borrowers.

“Technology can shorten a journey, but trust is what makes that journey meaningful,” Mr. Lavit added. “We want to make short-term lending less confusing and more responsible at the same time.”

The Road Ahead

After this successful launch, RuleMudra intends to build its technology platform, expand its pool of licensed lending partners, and make transparent short-term loans accessible throughout India and if things go well maybe beyond the borders.

The company’s roadmap also includes enhancing automation-led decision support, developing more personalised customer journeys and strengthening financial education around credit, repayment and responsible borrowing.

Customer consent, data security, regulatory compliance and transparent communication will continue to remain central to the platform’s development.

About RuleMudra

RuleMudra is a technology-driven Lending Platform operated by TwoMinutes Fintech Private Limited offering a safe, seamless and entirely digitized experience for obtaining short-term personal loans through RBI-regulated lenders – DECIMUS FINANCIAL LIMITED & BASEL INVESTMENTS LIMITED.

Eligible borrowers may apply online, undertake the verification process, view the loan offer which is relevant to them and digitally accept the same. The loan sanction, loan pricing and disbursal is done by the concerned regulated lender.

RuleMudra: Making Finance Truly Yours

Website: www.rulemudra.com

Media contact: support@rulemudra.com

Phone: +91 8447360240

Important Information

Loans are provided under certain eligibility, KYC, credit rating, repayment capability, and policies of the financing organisation. Timing of disbursement is not assured. Terms such as “instant,” “quick” and “zero paperwork” refer to the potential speed and paperless nature of the digital process; they do not mean guaranteed approval or verification-free lending. Applicants should carefully review the Key Fact Statement, APR, applicable charges, repayment schedule and total repayment obligation before borrowing.

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Bank of America Reports Third Quarter 2026 Financial Results

CHARLOTTE, N.C., Oct. 14, 2026 /PRNewswire/ — Bank of America reported its third quarter 2026 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings.

A Form 8-K containing Bank of America’s financial results is also available at the U.S. Securities and Exchange Commission’s website at https://www.sec.gov.

Investor Conference Call information

Chair and CEO Brian Moynihan and Executive Vice President and CFO Alastair Borthwick will discuss the financial results in an investor conference call at 8:30 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795. Please dial in 10 minutes prior to the start of the call.

Investors can listen to live audio of the conference call and view the presentation slides by visiting the “Events and Presentations” section of the company’s Investor Relations website.

Replay information for Investor Conference Call

Investors can access replays of the investor conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on October 14 through 11:59 p.m. ET on October 23. 

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Investors may contact

Lee McEntire, Bank of America

Phone: 1.980.388.6780

lee.mcentire@bofa.com

Jonathan G. Blum, Bank of America (Fixed Income)

Phone: 1.212.449.3112

jonathan.blum@bofa.com

Reporters may contact

Jocelyn Seidenfeld, Bank of America

Phone: 1.646.743.3356

jocelyn.seidenfeld@bofa.com 

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Altair Semiconductor Integrates Iridium NTN Direct into ALT1350 and ALT1550 Cellular IoT Chipsets

MCLEAN, Va., Oct. 14, 2026 /PRNewswire/ — Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, aircraft surveillance, and positioning, navigation, and timing (PNT) satellite services, today announced that Altair Semiconductor, a world leader in cellular IoT chips, is integrating Iridium NTN Direct^℠ capability into Altair’s ALT1350 and next-generation ALT1550 IoT chipset platforms. With terrestrial cellular IoT and Iridium satellite connectivity on a single chipset, device manufacturers, module makers and mobile network operators (MNOs) will be able to extend IoT connectivity beyond the reach of terrestrial networks through the Iridium satellite network, without adding a separate satellite modem to their designs.

The partnership combines Altair’s cellular IoT chipset technology, among the most highly integrated low-power connectivity solutions available, with Iridium’s 3GPP standards-based non-terrestrial network (NTN) service, giving device manufacturers another chipset option for products that need connectivity beyond terrestrial cellular coverage. With the ultra-low-power ALT1350, these connectivity requirements can include asset tracking, logistics, smart metering and utilities, agriculture, vehicle telematics, industrial monitoring and remote infrastructure. With the ALT1550, these capabilities extend to a new generation of AI-powered 5G eRedCap devices, such as smart glasses, AI assistants and other wearables, that need to stay connected wherever they go.

“Altair has deep experience developing highly integrated, low-power IoT solutions, and we’re excited to work together to extend their reach with Iridium’s truly global satellite network,” said Tim Last, executive vice president, Iridium. “As a market leader in satellite IoT, Iridium is offering device manufacturers a powerful new way to develop connected products. Integrating Iridium NTN Direct into Altair’s chipsets will enable solutions and applications that require reliable, low-power connectivity beyond the limits of terrestrial networks.”

“Adding Iridium NTN Direct to our ultra-low-power LTE-M/NB-IoT ALT1350 and 5G eRedCap ALT1550 chipsets reflects our commitment to giving customers greater flexibility in how and where their IoT devices connect,” said Dima Feldman, VP Product Management and Marketing, Altair Semiconductor. “With Iridium’s truly global LEO satellite connectivity alongside terrestrial cellular, device manufacturers can more easily develop solutions that will reliably work anywhere they’re deployed.”

Iridium NTN Direct leverages Iridium’s fully operational, LEO satellite constellation and globally coordinated L-band spectrum to extend standards-based connectivity beyond terrestrial networks. The service is designed to support NB-IoT and direct-to-device (D2D) applications using compatible 3GPP standards-based chipsets, providing MNOs, chipset manufacturers and device makers with a path to extend connectivity through the Iridium satellite network.

Altair joins a growing ecosystem of partners bringing the Iridium NTN Direct service to market. A combination of chipmakers, module manufacturers, OEMs, device makers, and IoT developers is leading the next generation of NTN-cellular integration with Iridium NTN Direct.

For more information about Iridium NTN Direct, visit www.iridium.com/ntn-direct

About Iridium Communications Inc.

Iridium Communications Inc. (Nasdaq: IRDM) operates the world’s only truly global mobile satellite network. It serves as a platform for innovation, enabling voice, data, and messaging, positioning, navigation, and timing (PNT), and aircraft surveillance services anywhere on Earth. Through its satellite constellation and integrated capabilities like Aireon, the world’s only space-based air traffic surveillance system, Iridium delivers services that support safety-focused operations across aviation, maritime, government, industrial, and consumer markets. The company is a leader in satellite Internet of Things (IoT) connectivity and is advancing direct-to-device (D2D) communications based on open standards to expand access to satellite services.

Headquartered in McLean, Virginia, Iridium innovates through an ecosystem of more than 500 technology and distribution partners, serving millions of customers worldwide. For more information visit www.iridium.com.

Forward-Looking Statements Disclosure

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the capabilities, benefits and availability of the Iridium NTN Direct service. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the timing of commercial availability of the Iridium NTN Direct service, the company’s ability to maintain the health, capacity and content of its satellite constellation, general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the company’s Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2026, and the company’s Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on July 22, 2026, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update or revise any forward-looking statements.

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3C Merges with Datalec to Create US$400M+ Revenue Liquid Cooling and Data Centre Services Platform

The combination brings together deep expertise in liquid cooling, mechanical and electrical (M&E) engineering, ODM manufacturing, connectivity and facilities management (FM), giving data centre operators worldwide a single partner from design through to operation.

LONDON, Oct. 14, 2026 /PRNewswire/ — 3C, the liquid-cooling-led data centre infrastructure services company founded by former CoolIT Systems CEO Steve Walton, has merged with Datalec Precision Installations, the London-based data centre engineering specialist founded in 2012, to create 3C Datalec, a global platform that designs, builds and operates critical infrastructure for AI data centres.

Backed by new investment from Longbow Capital, S2G Investments, Apogem Capital and QIC, 3C Datalec will accelerate its international growth, invest in specialist talent and expand its technical capabilities as AI demand grows. Over the next 12 months, the company will hire 200 engineers and open new facilities in Warsaw, Poland; Calgary, Alberta; and Austin, Texas.

The combined business has approximately 1,000 team members and forecasts 2026 revenue to be over US$400 million, with offices and manufacturing facilities across Europe, the Middle East, Asia-Pacific and North America. It works with four of the five largest hyperscalers and over 25 colocation providers, alongside neoclouds and enterprise customers, with active projects in 16 countries totalling hundreds of megawatts (MW).

As AI workloads drive up compute density, power requirements and thermal complexity, 3C Datalec organises its capabilities into three pillars:

Create – design and engineering

Construct – liquid cooling, M&E, ODM manufacturing and connectivity installation

Care – commissioning, operations, maintenance and facilities management

“Rack densities have outgrown air, and liquid cooling is no longer optional,” said Steve Walton, CEO of 3C Datalec. “At CoolIT, we spent years preparing for this moment and became a global leader in liquid cooling. The hard part now is making cooling, power, construction and operations work as one system, while running at scale. We’re combining our liquid cooling expertise with Datalec’s engineering, manufacturing and FM capabilities, so customers have one partner from design to operation.”

The industry is running short of skilled data centre engineers, so 3C Datalec is training its own. Team members have access to apprenticeships, technical training and career development programs through the company’s internal university, and will share in its success through the Leadership & Employee Equity Program (LEEP). The goal: build the next generation of liquid cooling and critical infrastructure specialists.

“Datalec has always been a people-first business. We’ve grown by building strong relationships, delivering for our customers and creating a culture that people want to be part of,” said Danny Keeper, Group Director & Co-Founder of Datalec. “Finding a partner in 3C that genuinely shares those values was extremely important to us. This partnership allows us to grow globally while protecting the culture and identity that have been at the heart of Datalec since day one.”

“Our customers have trusted Datalec with their most critical sites for more than a decade, and we earn that trust on every project,” added Stuart Richmond, Group Director & Co-Founder of Datalec. “Joining 3C means we can now offer liquid cooling at global scale, but our commitment doesn’t change: the same teams, the same contacts and the same focus on getting it right for every customer.”

“AI is rewriting the requirements for data centre infrastructure and liquid cooling sits at the centre of that shift,” said Matthew Cunning, Director at Longbow Capital. “Steve helped build a category leader in liquid cooling and Datalec brings a proven delivery business with a loyal customer base. We’re backing 3C Datalec to become the partner of choice for AI-ready infrastructure.”

“The next phase of data centre investment will be shaped by both new development and the need to upgrade existing facilities for higher-density workloads,” said Bala Nagarajan, Managing Director at S2G Investments. “Datalec has built deep trust delivering complex projects in that environment, and 3C brings the experience and capabilities to extend those relationships into a broader set of services across the life of a facility.”

Datalec’s headquarters will remain in London, and its founding leadership team will continue in their executive roles within the enlarged group. Financial terms were not disclosed.

About 3C Datalec

3C Datalec designs, builds and operates critical infrastructure for AI and high-density data centres. Formed in 2026 through the combination of 3C, founded by former CoolIT Systems CEO Steve Walton, and Datalec Precision Installations, founded in London in 2012, the company brings liquid cooling, M&E engineering, ODM manufacturing, connectivity and facilities management together, built around Create • Construct • Care. With approximately 1,000 team members and active projects in 16 countries, 3C Datalec serves hyperscalers, colocation providers, neoclouds and enterprises across Europe, the Middle East, Asia-Pacific and North America. 3C Datalec is backed by Longbow Capital, S2G Investments, Apogem Capital, and QIC. For more information, visit www.datalecltd.com.

About S2G Investments

S2G Investments is a multi-asset investment firm focused on scaling durable, market-defining businesses across food & agriculture, energy, and oceans. We provide capital and value-added resources to companies commercializing solutions designed to improve efficiency, resilience, and long-term value across industries powering the global economy. Through fit-for-purpose financing and a systems-focused investment approach, S2G is committed to driving measurable, sustained outcomes with tailored solutions that span late-stage venture, growth equity, structured finance, and infrastructure. For more information about S2G, visit s2ginvestments.com or connect with us on LinkedIn.

About Longbow Capital

Longbow Capital is a Canadian investment manager focused on investing in energy, power, industrials, and technology. Since its founding in 1997, Longbow has been a long-term strategic partner and an engaged and effective shareholder in over 150 high-growth investments. Longbow’s investment track record, extensive relationship network, and deep understanding of how our energy system works enable us to source, evaluate, and invest in opportunities arising from some of the most significant societal and economic shifts underway today – decarbonization, digital infrastructure buildout, and deglobalization – where technology-driven change is reshaping markets and creating compelling investment opportunities.

About Apogem Capital

Apogem Capital is a leading private markets investor with 35 years of expertise across private credit and private equity in North America. As of June 30, 2026, the firm manages approximately $44 billion in assets.¹ Apogem provides a comprehensive suite of solutions, including direct lending, private equity funds and co-investments, GP-led transactions and LP secondaries, GP stakes, and private real assets.

With a team of over 250 professionals, including more than 120 investment professionals, Apogem combines deep domain expertise with the stability and long-term perspective of its parent company, New York Life Insurance Company. Apogem Capital is a wholly owned subsidiary of New York Life through New York Life Investment Management Holdings, LLC. For more information, visit apogemcapital.com.

¹ AUM is estimated and unaudited as of June 30, 2026, and includes non-discretionary and co-advised assets.

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InCred Capital steps up Capital Markets push under CEO Abhinav Khanna

Senior leadership hires, technology investment and global expansion support ambition to scale InCred Capital into a leading institutional equities franchise and grow its market share multi-fold in India’s institutional equities segment

MUMBAI, India, Oct. 14, 2026 /PRNewswire/ — InCred Capital is significantly scaling up its presence in India’s institutional equities market, with a series of senior leadership hires, substantial investment in technology and execution, and an expanding global distribution network.

The firm is targeting to grow its market share multi-fold in India’s institutional equities segment over the next five years, as it builds on its existing platform across cash equities, derivatives and asset services.

The business is led by Abhinav Khanna, Chief Executive Officer – Capital Markets, who has now joined InCred Capital following the announcement of his appointment earlier this year.

Abhinav brings over 25 years of experience across India, the UK and the Middle East. Most recently, he was Managing Director and Chief Business Officer – Global at ValueQuest Investment Advisors. Prior to that, he spent over a decade at Citigroup Global Markets, culminating in his role as Managing Director and Head of Equities – India.

InCred Capital has also strengthened its senior leadership team with the appointment of Abhimanyu Kalra as MD, Co-Head of Equities. Abhimanyu brings over 23 years of experience in equity markets, including 18 years at Nomura, during which he has built deep relationships with leading global and domestic asset managers.

The India build-out is being complemented by an expanding international footprint. InCred Capital recently launched its US business under Arunava Das, CEO – USA, strengthening its access to global institutional investors.

Arunava joins from JM Financial, where he served as CEO of its North America business, and has previously held senior roles at JPMorgan Chase and Edelweiss Capital.

The appointments add further depth to an established franchise and underline InCred Capital’s ability to attract high-quality senior talent as it enters its next phase of growth.

Alongside the leadership build-out, InCred Capital is making a significant investment in its technology and execution infrastructure across order management, research distribution, institutional sales and trading, block execution and algorithmic trading.

The platform serves a broad institutional client base including mutual funds, insurance companies, pension funds, FPIs, global long-only investors and hedge funds.

Bhupinder Singh, Founder, InCred Group, said, “We are making a big bet on Capital Markets. India’s markets are getting larger, deeper and more important to global investors, while domestic institutional capital continues to grow rapidly. We see a very large opportunity to build a serious, scaled franchise serving both.

Abhinav and the team bring exceptional experience, relationships and market credibility. The calibre of people we have been able to bring together gives me tremendous confidence in what we can build from here. Our ambition is clear: to build InCred into one of India’s leading institutional equities franchises. This is a long-term build, and we have the conviction, capital and patience to do it properly.”

Abhinav Khanna, Chief Executive Officer – Capital Markets, InCred Capital, said, “India is one of the most exciting institutional capital markets opportunities globally, and we believe InCred has a real opportunity to build on the credibility it has already established and scale into a much larger franchise.

Our job now is to take that platform to the next level — through differentiated research, outstanding client service, strong execution and deeper relationships with institutions in India and globally.

We have assembled an exceptional team and have the backing to build this business for the long term. Our ambition is to become one of the institutions that the largest investors in India and around the world naturally turn to.”

About InCred Capital

InCred Capital is the institutional, wealth management and asset management arm of the InCred Group. The firm provides a comprehensive range of services across Investment Banking, Institutional Equities, Wealth Management and Asset Management, serving corporates, institutional investors and high-net-worth clients in India and internationally. Combining deep domain expertise with technology, innovation and disciplined risk management, InCred Capital is building a leading integrated financial services platform.

For information: https://www.incredcapital.com/

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