Nvidia to invest $100bn in OpenAI

UK Investor Magazine
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Nvidia to invest $100bn in OpenAI

Nvidia to invest up to $100bn in ChatGPT-maker OpenAI as part of a strategic partnership to build 10 gigawatts of AI data centres with Nvidia’s chips.

The strategic goal here is clear. Help OpenAI, which now has 700 million weekly users, embed its AI technology and solutions into the wider economy to ramp up token usage that ultimately requires more Nvidia GPUs.

“Everything starts with compute,” said Sam Altman, cofounder and CEO of OpenAI.

“Compute infrastructure will be the basis for the economy of the future, and we will utilize what we’re building with NVIDIA to both create new AI breakthroughs and empower people and businesses with them at scale.”

In addition, the deal makes Nvidia shares an interesting way to gain exposure to OpenAI as the chipmaker will now be one of the largest investors in OpenAI, if not the largest.

Nvidia shares spiked higher by over 3% in the immediate reaction to the news.

The collaboration will see OpenAI work with Nvidia as its preferred provider of chips and AI infrastructure as it expands its AI factories.

“Nvidia and OpenAI just dropped a bombshell on the AI landscape. A staggering commitment from Nvidia of up to $100 billion to OpenAI, paired with plans for the ChatGPT maker to deploy 10 gigawatts of AI data centres running on Nvidia chips,” said Matt Britzman, senior equity analyst, Hargreaves Lansdown.

“This makes Nvidia’s recent $5 billion investment in Intel look like pocket change. The first gigawatt is slated for the second half of 2026, powered by the new Vera Rubin platform. For Nvidia, the prize is huge – every gigawatt of AI data centre capacity is worth about $50 billion in revenue, meaning this project could be worth as much as $500 billion.”

Britzman continued to explain that the deal further cements Nvidia’s market position as the leading AI play for investors in publicly traded equity.

“This move cements Nvidia’s position as the undisputed king of AI at a time when custom chips from hyperscalers and startups had started to nibble at its dominance. By locking in OpenAI as a strategic partner and co-optimizing hardware and software roadmaps, Nvidia is ensuring its GPUs remain the backbone of next-gen AI infrastructure. The market is clearly big enough for multiple players, but this deal underscores that, when it comes to scale and ecosystem depth, Nvidia is still setting the pace – and raising the stakes for everyone else.”

FTSE 100 stuck in tight range despite US record highs

UK Investor Magazine
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FTSE 100 stuck in tight range despite US record highs

The FTSE 100 was marginally higher on Monday as London failed to keep pace with a global equity rally that sees US indices at fresh record highs.

London’s leading index was around 10 points higher at the time of writing.

“Like a teenager still adjusting to being back at school, the FTSE 100’s recent lethargy continued as the index traded lower at the start of the new trading week,” said AJ Bell investment director Russ Mould.

“US indices may have clawed their way to new record highs last Friday and the Nikkei 225 bounced back on Monday, but UK stocks were held back by weakness in the telecoms, retail and airline sector.”

The FTSE 100 is taking a shine to the 9,200 – 9,260 region, with the index trading within this tight range for most of last week, despite a raft of central bank action and mixed economic data.

While the FTSE 100’s consolidation above 9,200 will be welcome after 11% gains so far this year, recent gains in other geographies, especially the US, make London’s recent performance a little disappointing.

The lack of tech shares and weighting towards defensive sectors is responsible for the index not sharing in the optimism evident in other markets.

“The combination of structural value drivers from the Artificial Intelligence boom and higher than expected resilience within the global economy is helping investor confidence to keep its head above water,” explained Derren Nathan, head of equity research, Hargreaves Lansdown.

In terms of FTSE 100 movers on Monday, miners were once again dominating at the top of the FTSE 100 leaderboard, with precious metals miners leading the way.

Fresnillo and Endeavour Mining were the top two risers as the gold price surpassed $3,700. Precious metals are enjoying bumper margins, and investors are positioning for further profit growth from the pair in their next updates.

Diversified miners were strong after a rally in Asia. Rio Tinto added 2% and Glencore rose 1.8%.

JD Sports was 1% lower as the sports retailer continued to fall away from the 100p mark ahead of H1 2026 results on Wednesday.

M&G was the FTSE 100 top faller with a 1.8% drop.

AIM movers: WH Ireland selling wealth management business and Nuvec success for N4 Pharma

Andrew Hore
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AIM movers: WH Ireland selling wealth management business and Nuvec success for N4 Pharma

N4 Pharma (LON: N4P) along with its partner SRI has achieved precision targeting of the Nuvec gene delivery system. A targeting molecule bound with a cell surface adhesion molecule. siRNA payloads were successfully delivered. This strengthens the potential of the Nuvec platform. The share price is 50% higher at 0.75p.

Online gaming marketing provider B90 (LON: B90) reported improved interims with a continuing increase in momentum. AI is helping to generate high quality leads for lower cost. Interim revenues were 75% ahead at €2.4m and the loss was slashed to €40,000. July and August were each record breaking months. Zeus has raised its full yea pre-tax profit forecast from €1m to €1.1m, with €1.6m expected for 2026. Net cash could be €1.1m at the end of 2025 and double one year later. The share price increased 12.2% to 4.15p.

Nortrust Nominees has raised its stake in oil and gas company Empyrean Energy (LON: EME) from 4.4% to 5.23%. The share price rose 11.1% to 0.06p.

EMV Capital (LON: EMVC) is acquiring assets relating to the XF drug platform from Destiny Pharma via a subsidiary for up to £2.475m. The XF platform reduces the chance of bacteria becoming resistant to antibiotics. The initial consideration is £475,000 and the rest depends on the launching of a phase 3 study in the US and regulatory approval, plus receipt of a potential milestone fee relating to a Hong Kong agreement. The deal is funded by a three-year term loan with 100% warrant coverage. EMV Capital has led an EIS fundraising to provide working capital of £725,000. EMV Capital will own a 43.8% undiluted stake in the acquisition vehicle. Third party assets under management will have a value of £1.3m. The share price improved 8.33% to 45.5p.

FALLERS

WH Ireland (LON: WHI) has agreed the conditional disposal of its wealth management business to Aquis-quoted Oberon Investments (LON: OBE) for £1m, plus the assumption of contract liabilities. The business is loss making and there have been talks with other potential buyers. The group lost £1.9m last year and revenues are falling. WH Ireland will not have an operating business and plans to leave AIM if approved by shareholders. The company will be wound down. The share price slumped 80.4% to 0.45p.

Power generator OPG Power Ventures (LON: OPG) has been hit by a rise in goods and services tax on coal from 5% to 18%. This starts on 22 September. This will increase annual costs by £2.5m.  Last year’s pre-tax profit was £5.2m. The share price declined 18.1% to 5.9p.

Acuity RM Group (LON: ACRM) is raising £350,000 at 1p/share. The software company will use the proceeds for working capital. The share price fell 14.6% to 1.025p.

There is yet to be a significant recovery for groundworks company Van Elle (LON: VANL). Spending constraints and delays in building safety approvals mean that volumes remain weak. Utilisation levels are important for profitability. The 2025-26 pre-tax profit forecast has been halved to £3m. The share price dipped 10.8% to 33p.

Henry Boot: property boss who complains it is now quicker to develop than to get planning permissions, looks for 10% greater sales this year

Mark Watson-Mitchell
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Henry Boot: property boss who complains it is now quicker to develop than to get planning permissions, looks for 10% greater sales this year

“From land promotion and property development investment to home-building, construction and plant hire, Henry Boot is where great places start… 
We aim to create sustainable and long-term value in real estate growing our capital employed to £500m, generating a ROCE of between 10-15%.” 
Tomorrow morning, Tuesday 23rd September, will see the £286m-capitalised Henry Boot (LON:BOOT) announce its Interim Results for the half year to end-June.  
The company's activities include land, property development, home building, and construction.  
Last Friday there were some 1,...

N4 Pharma shares rise on lung cancer cell targeting update

UK Investor Magazine
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N4 Pharma shares rise on lung cancer cell targeting update

N4 Pharma shares rose on Monday after announcing an update on its collaborations with the research institute SRI to test its Nuvec gene delivery system.

Shares were 10% higher after the company said it successfully delivered RNA into lung cancer cells using N4’s Nuvec®.

The technology works by attaching targeting molecules to tiny particles that carry therapeutic RNA. These particles then seek out and bind to specific proteins found on cancer cells.

The system successfully targeted non-small cell lung cancer cells in laboratory tests, delivering RNA therapy only to the intended cancer cells, not healthy tissue. This is promising news.

The RNA therapy market is worth $13.7 billion globally and is growing at a pace. However, getting these treatments to the right cells remains a major challenge for developers, the company says.

Current RNA delivery methods struggle with precision targeting. N4 Pharma’s work focuses on tackling this “holy grail” problem by targeting therapy specifically to diseased cells while sparing healthy ones.

“Targeting RNA therapies to particular cell types is highly sought after by companies developing RNA therapeutics. We have now demonstrated Nuvec®’s ability to do this in multiple systems, which we believe sets it apart from other RNA delivery methods,” said Nigel Theobold, Chief Executive Officer of N4 Pharma.

“These recent data from our collaboration with SRI are particularly exciting because they represent the first example of the use of Nuvec® for the potential treatment of some of the most common and life-threatening cancers.

“N4 Pharma raised capital earlier this year to build out the data to support the key performance claims of Nuvec®: simultaneous delivery of multiple RNAs; targeting of specific cell types; oral delivery; low immunogenicity; stability; and simple manufacturing. These data generated with SRI are a significant step forward in that process, because of the high demand for targeted therapies to support deal-making and building our own differentiated RNA therapeutics pipeline.” 

Van Elle Holdings shares tumble as outlook slashed

UK Investor Magazine
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Van Elle Holdings shares tumble as outlook slashed

Van Elle Holdings, one of Britain’s largest ground engineering contractors, has warned that full-year trading will fall materially below market expectations.

Shares in Van Elle sank over 14% as the firm blamed continued challenging conditions across its core sectors.

Revenue has failed to increase as anticipated year-to-date, and the company said profitability is now expected to trail both forecasts and prior-year performance. This is not what investors want to hear.

Echoing the sentiments of major housebuilders in their recent releases, Van Elle highlighted slow approvals as a reason for their revised forecasts.

The shortfall stems from ongoing spending constraints and contract delays, particularly those linked to Building Safety Act approvals for high-rise residential projects.

The recovery in their main markets is also yet to materialise, further weighing on revenue.

These difficulties, which plagued the company throughout its previous financial year ending April 2025, are now persisting in the new financial year.

Despite near-term pressures, the group maintains a robust order book of £47.3m as of 31st July 2025, up from £41.5m three months earlier.

The company will provide its next trading update for the six months ending 30th October in early December.

ITM Power secures 150MW capacity agreement with energy giant RWE

UK Investor Magazine
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ITM Power secures 150MW capacity agreement with energy giant RWE

ITM Power has landed a significant capacity reservation deal with European energy powerhouse RWE for 150MW of its NEPTUNE V hydrogen units.

The agreement covers 30 units with call-offs expected by 2027.

“We are proud to expand our collaboration with RWE,” said Dennis Schulz, CEO.

“Building on our strong relationship developed through the joint execution of the GetH2 Nukleus project, this additional 150MW capacity reservation underlines RWE’s confidence in our technology and delivery capability. Repeat business with a global leader in energy is the strongest validation of our strategy, our products, and our people.”

Today’s deal builds on RWE’s successful operation of an ITM Power 4MW pilot plant and delivery of 200MW of electrolysers for the ambitious GetH2 Nukleus project in Lingen, Germany.

The NEPTUNE V represents ITM Power’s latest generation of containerised green hydrogen solutions, enabling rapid deployment and simplified installation. The units can also be interconnected to create larger container-based facilities.

Since its launch last year, the NEPTUNE V platform has achieved impressive commercial momentum and ITM say it is recognised as ‘a benchmark technology for commercial-scale green hydrogen projects’.

Investors will hope the agreement and its delivery can help push ITM back above 100p mark after a prolonged period trading beneath the key psychological level. ITM Power once traded above 600p.

Director deals: Wynnstay Properties discount buy

Andrew Hore
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Director deals: Wynnstay Properties discount buy

Wynnstay Properties (LON: WSP) non-executive director Ross Owen bought 4,000 shares at 782.34p each. This follows the publication of initial research on the property investor by Zeus. The current share price is 780p.
Ross Owen owns 5,500 shares, having bought 1,250 shares at 700p each and 250 shares at 710p each during 2023. He is a chartered surveyor and was appointed to the board in March 2023.
Business
Wynnstay Properties’ history goes back to 1886 when it was focused on residential properties in Kensington. It currently owns office, commercial and industrial properties in southern England ...

AIM weekly movers: Futura Medical considering options

Andrew Hore
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AIM weekly movers: Futura Medical considering options

Predictive genetics company GENinCode (LON: GENI) says it knows of no reason for the recent share price rise. The interim results will be published on 30 September. The share price was above 5p, but it has fallen back to 3.85p, which is still 148% higher.

Renalytix (LON: RENX) has signed a collaboration agreement with Tempus AI which will help to accelerate the adoption of the company’s kidneyintelX.dkd test to help slow kidney disease. The test is for predicting “progressive decline in kidney function in type 2 diabetes patients with diagnosed chronic kidney disease stages 1-3b”. Polar Capital reduced its stake from 8.98% to 3.98%. The share price jumped 83.8% to 10.75p.

Adrian Crucefix has taken a 5.03% stake in Nativo Resources (LON: NTVO). The share price rose 61.5% to 0.525p.

Quadrise (LON: QED) has appointed Peter Borup as chief executive. He has a shipping background. Quadrise successfully completed proof-of-concept an emissions testing for MSAR and bioMSAR on Everllence 4-stroke engines. The share price improved 34.1% to 4.35p.  

FALLERS

Sexual health products developer Futura Medical (LON: FUM) says 2025 revenues will be much lower than expected and it has widened the strategic review to include all options to create shareholder value. US sales of Eroxon remain weak and there are stocks left from the original order. Other markets are also weaker than expected. The $2.5m milestone payment from Haleon for granting of a US patent has been delayed until next year. Full year revenues will be between £1.3m and £1.4m. Cash was £2.71m at the end of August 2025. This should last until January 2026. Cost savings are being made and funding sought. Interim results will be published on 30 September. The share price dived 41.7% to 5.245p.

Secure Property Development & Investment (LON: SPDI) is distributing the shares it owns in Arcona Property Fund to its shareholders. The record date was 15 September. The share price declined through the week and ended up down 41.2% to 2.5p.

Acoustic products supplier Autins Group (LON: AUTG) is suffering from volatile conditions in the automotive sector. In the five months to August 2025, revenues fell from £8m to £7.7m and the loss was reduced from £714,000 to £258,000. JLR is a major customer, and it has been hit by a cyber attack. JLR production stopped on 1 September and that will hold back Autins revenues. The share price fell 28.6% to 7.5p.

Geo Exploration (LON: GEO) has completed drilling at hole JUD001 at the Juno project and the equipment moved to JUD002. Drill core from JUD001 will be sent to a laboratory. The company has repaid a $270,000 loan from chief executive Omar Ahmad. The share price declined 23.8% to 0.32p.

Aquis weekly movers: Equipmake gets £5.45m order

Andrew Hore
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Aquis weekly movers: Equipmake gets £5.45m order

Vehicle electrification technology developer Equipmake (LON: EQIP) has received a £5.45m order from Agrale to supply electric drivetrain systems for 50 buses. Agrale had previously ordered five drivetrains. The new order will be delivered from now to mid-2026 and there will be payments in advance for each delivery. Equipmake has an order book worth more than £10m. The share price jumped 53.6% to 2.15p, the highest level since last November.

WeCap (LON: WCAP) investee company WeShop has filed with the SEC for a listing on Nasdaq. The SEC has to review the filings before the listing can happen. WeCap has a direct stake of 5.189 million shares in the shoppable social network. Peel Hunt holds 17.2% of WeCap. The share price increased 43.6% to 2.8p. Hot Rocks Investments (LON: HRIP), which owns 150,000 WeShop shares, is unchanged at 1.2p.

There was one trade in Black Sea Property (LON: BSP) shares during the week. This was a purchase of 65,000 shares at 2 cents each. The share price rebounded by one-fifth to 1.5 cents.

Cannabis medicines developer Ananda Pharma (LON: ANA) says chief executive Melissa Sturgess is presenting and attending a panel discussion at the 8th Cannabinoid & Endocannabinoid Drug Development Summit, taking place in Boston, Massachusetts in mid-October. The share price improved 10% to 0.275p.

Mendell Helium (LON: MDH) says dewatering has started at the M3 Corporation Rost-1-26 well in Fort Dodge, Kansas. Mendell Helium has an option to acquire M3 Helium, and the option has to be exercised by 30 September. A move to AIM is likely when Rost starts production. The share price rose 5.88% to 2.25p.

Valerium (LON: VLRM) is accelerating the strategy to build a blockchain-powered finance ecosystem and it is selectively investing in leading operations in this area. This should enable larger and faster revenues. The share price is 3.77% higher at 2.75p.

FALLERS

The Smarter Web Company (LON: SWC) has appointed Coinbase International as a custody partner. The share price fell 23.5% to 97.5p.

Vault Ventures (LON: VULT) has launched a new website and interactive hub at investors.vaultplc.com. A further purchase of 47.48 ETH means the total holding is 818.85 ETH and 2,201.1 SOL. The share price dipped 12.9% to 1.35p.

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