Weekly market update: AI Is Losing Its Luster

Up: Arcellx +77.49%: Gilead has announced its intent to acquire the biotech firm for USD 115 per share, representing a 79% premium. The transaction is valued at EUR 7.8 billion and is expected to close in the second quarter of 2026. Circle Internet +32.4%: The company is capitalising on the increased circulation of its flagship stablecoin, USDC, driven by favorable regulations for dollar-pegged digital assets. Total revenue and reserve income surged by 77%, outperforming analyst consensus. Keysight +26.19%: Bolstered by new announcements regarding advancements in 6G research, the group published strong results. Revenue grew to USD 1,600 million, up from…