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Highlights
Royal Gold to acquire Sandstorm Gold (TSX:SSL) in all-stock transaction
Apogee Therapeutics shares respond to positive Phase 2 trial results
CoreWeave to merge with Core Scientific in major infrastructure deal
In a significant transaction for the mining and metals sector on the S&P/TSX Composite Index, Royal Gold Inc. announced an all-stock acquisition of Sandstorm Gold Ltd. (TSX:SSL), a move that strengthens Royal Gold’s position in the precious metals streaming market. According to the agreement, Royal Gold will issue a set number of its shares for each share of Sandstorm, offering a valuation premium based on recent trading activity.
The acquisition combines two of the largest players in the streaming space, aiming to expand scale and improve access to high-quality gold and silver streams across various global jurisdictions. Both companies are recognized on the Canadian exchange, and the development is expected to influence positioning within the S&P/TSX 60 Index and broader gold equity benchmarks.
CoreWeave and Core Scientific Announce Infrastructure Merger
CoreWeave Inc. (NASDAQ:CRWV), a provider of AI-focused cloud infrastructure, disclosed an agreement to acquire data center operator Core Scientific Inc. (NASDAQ:CORZ) in an all-stock merger valued in the multi-billion-dollar range. The integration is positioned to expand computing capabilities for artificial intelligence applications, particularly in the realm of large-scale GPU-based data processing.
Despite the strategic rationale behind the transaction, shares of both entities experienced declines following the announcement, reflecting market reaction to the terms of the deal and its potential integration complexity. The combined company is set to become one of the largest vertically integrated AI infrastructure firms operating in North America.
Apogee Therapeutics Releases Positive Results in Dermatology Trial
Apogee Therapeutics Inc. (NASDAQ:APGE) disclosed data from its Phase 2 APEX clinical trial evaluating APG777, an anti-IL-13 antibody aimed at treating moderate-to-severe atopic dermatitis. The trial met its primary endpoint, demonstrating a meaningful reduction in Eczema Area Severity Index scores compared to placebo.
The results drew market attention, with shares responding on elevated trading volume. The therapy is part of Apogee’s broader pipeline of immunology treatments currently under clinical development, positioning the company within the competitive dermatology and inflammation treatment segment.
GEO Group and CoreCivic Gain Following Federal Legislation
GEO Group Inc. (NYSE:GEO) and CoreCivic Inc. (NYSE:CXW) recorded share price increases after legislative developments related to immigration enforcement. A new bill passed by Congress, referred to as the “Big, Beautiful Bill,” includes a substantial increase in federal spending for immigrant detention infrastructure.
The bill outlines expanded funding over the coming years, directly benefiting private prison operators. The market response reflects the anticipated rise in contracted capacity and utilization across federal detention networks.
Bit Digital Transitions to Ethereum-Based Treasury Strategy
Bit Digital Inc. (NASDAQ:BTBT) announced it has completed a strategic transition of its corporate treasury into Ethereum (ETH). This move makes Bit Digital one of the largest public holders of ETH globally, as the company continues to adapt its operations toward digital assets and decentralized finance infrastructure.
Following the announcement, shares rose sharply in early trading, coinciding with increased interest in corporate blockchain adoption and digital asset diversification strategies.
