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France concludes global AI Action Summit, aims to become 3rd AI power after US and China; Artprice by Artmarket unveils 2025-2029 Strategic Plan and emerges as leader in AI art market intelligence with Intuitive Artmarket® AI

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PARIS, Feb. 12, 2025 /PRNewswire/ — As France recently hosted the Global AI Action Summit, Artprice by Artmarket – world leader in art market data for 28 years – has unveiled its 2025-2029 strategic roadmap and the first concrete successes of its Intuitive Artmarket® AI, consolidating its position as the global leader in AI-driven art market intelligence. Artprice by Artmarket.com est cotée sur le marché réglementé Euronext Paris.

On February 10 and 11, 2025, France received nearly 100 countries as part of the Global Summit for Action on Artificial Intelligence – “AI Action Summit” – using its fabulous Grand Palais to host heads of state and government, leaders of international organizations, small and large businesses, academics, researchers, non-governmental organizations, artists and various other representatives of civil society.

The summit was part of a broader AI Action Week starting February 6, featuring key events such as Scientific conferences on February 6–7 at École Polytechnique and a cultural weekend on February 8–9 organized by the French Ministry of Culture under Minister Rachida Dati, which included Artprice and its founder-CEO, thierry Ehrmann.

According to Rachida Dati, Minister of Culture: “The Cultural Weekend program, designed by the Ministry of Culture, aims to highlight, to as wide an audience as possible, the opportunities that artificial intelligence offers to creators. However, while we hope to make a veritable contribution to a new era of creativity, we need to keep a sharp focus on the challenges and risks that the cultural sectors face today.” 

Echoing this, Artprice, in its capacity as the World Leader in Art Market Information, previewed exclusive figures from its upcoming 30th Annual Art Market Report, produced in partnership with China’s Artron Research Academy of Arts.

This landmark report – eagerly anticipated by the global art world in March of each year – is distributed in 122 countries and 11 languages through Artprice’s 26-year partnership with Cision PR Newswire. This year’s edition highlights France as Europe’s leading art market by auction turnover, the world’s second market in terms of art auction transaction volumes, and the world’s fourth largest by total auction turnover (after the United States, China and the UK).

The AI summit provided France with a platform to showcase its AI expertise and the vibrancy of its business and research ecosystems, and to launch a new phase of its national AI strategy.

To this end, Clara Chappaz, Secretary of State for Artificial Intelligence and Digital Technology and the official host for this summit in the government of François Bayrou, identified three objectives: societal & cultural, economic and diplomatic.

In an interview in Les Échos on the eve of the summit, Clara Chappaz addressed a number of key issues: “At the White House in Washington on 21 January 2025, the United States – through the voice of President Donald Trump accompanied by Larry Ellison, co-founder of Oracle, Masayoshi Son, CEO of SoftBank, and Sam Altman, CEO of OpenAI – announced Stargate, a $500 billion AI plan, while China now has DeepSeek, a very efficient and low-cost model. 

Where does Europe stand in this field? AI is an opportunity for Europe. The Draghi report, released last September, was incisive.  It showed that Europe has reacted. I am not waiting for a European surge, it has happened. The European Commission’s recent Competitiveness Compass clearly prioritizes innovation. We’re in the race, we but must stay there.

Is there a surge in large groups, which are key in the adoption and diffusion of AI? During the summit, which will take place at the Grand Palais, the world’s largest companies and the world’s largest AI start-ups will come together. This has never happened before. This shows that everyone is around the same table and that silos are being broken down.”

Anne Bouverot, an AI expert, engineer, and special envoy of French President Emmanuel Macron, played a central role in preparing the AI Action Summit. She oversaw work on five main themes: AI for public interest, the future of work, innovation ecosystems, AI safety, and global AI governance. She also coordinates international efforts to establish open, democratic AI governance and founded the Abeona Foundation to promote responsible AI. She co-chairs the Paris-based AI & Society Institute.

Indeed, on February 9, during his special speech on France 2, President Emmanuel Macron declared that he wanted to make France a powerhouse of artificial intelligence, announcing 109 billion euros of investments in Artificial Intelligence in France by groups like MGX, BlackRock, Brookfield, Amazon, Microsoft, Fluidstack, Data4, Equinix, Digital Realty, Prologis, Evroc, Sesterce, Opcore, Mistral, BPI France, Infravia and Scaleway.

At the end of the Summit for Action on AI in Paris, co-chaired with India in the presence of its Prime Minister Narendra Modi, it was clear that President Macron wants to see France become “number 3 in the world”, behind the United States and China. The summit brought together nearly 100 countries, leaders of international organizations, researchers and representatives of civil society to define the foundations of global AI governance.

Among them were: United Nations Secretary-General António Guterres; U.S. Vice President J.D. Vance, who made a career in Silicon Valley; Chinese Vice Premier Ding Xuexiang; European Commission President Ursula von der Leyen; the German Chancellor, Olaf Scholz as well as the President of the United Arab Emirates, Mohamed Bin Zayed Al-Nahyan.

This summit was also attended by representatives of international organizations such as Ngozi Okonjo-Iweala, Director General of the WTO; Mathias Corman, Secretary General of the OECD; Fatih Birol, Director of the International Energy Agency; Moussa Faki, Chairperson of the African Union Commission; as well as numerous tech company executives such as Sam Altman, CEO of OpenAI; Google CEO Sundar Pichai; Arthur Mensch, CEO of Mistral AI; Xavier Niel, Founder of the Iliad group; Demis Hassabis, Director of Google DeepMind; Brad Smith, President of Microsoft.

There were also many scientists and experts like Yann Le Cun, AI pioneer and Scientific Director at Meta; Joëlle Barral, Researcher at Google DeepMind; Michael Jordan, Professor at the University of Berkeley, and, Nobel Prize winners like Geoffrey Hinton, considered one of the “fathers” of modern AI; journalist and Nobel Peace Laureate, Maria Ressa, and economist, Joseph Stiglitz.

A steering committee bringing together representatives from around thirty countries and international institutions as well as representatives from academia, businesses and civil society met five times to prepare the discussions for this Summit.

France plans to train 40,000 to 100,000 researchers by 2030 and build 35 data centers (including a €30–50 billion UAE-funded facility). It also plans to establish a Franco-European regulatory framework for AI.

Brookfield announced a €20 billion investment in French data centers, including a 1-gigawatt facility in Cambrai. This investment mainly targets the development of data centers, essential for training AI, as well as associated infrastructure, such as energy production. Among the major projects, a mega-data center will be built in Cambrai, in the north of France, with a maximum power of 1 gigawatt.

According to an official French government source, France is Europe’s top destination for foreign AI investments.

At the end of the summit, the creation of an observatory of the energy impact of artificial intelligence, led by the International Energy Agency (IEA), was formalized as well as a coalition for sustainable AI, which intends to bring together the main companies in the sector.

News and outlook for 2025:

Artprice by Artmarket reached a new milestone on January 9, 2025, with the success of its Intuitive Artmarket® AI and is now the world leader in AI for Art Market information

At the end of 2024, Artprice by Artmarket gave its high-end subscribers access to data learned by its Intuitive Artmarket® AI and its algorithms.

On January 9, 2025, Artprice by Artmarket consolidated its position as the global leader in AI-driven art market intelligence with the successful roll-out of its Intuitive Artmarket® AI. Today, with one month of hindsight, we already see that these subscriptions have become the preferred annual subscriptions in our high-end offer.

This spectacular development demonstrates that the 9.3 million customers and members of Artprice by Artmarket have accepted the advent of AI culture into the heart of our databases and are moving towards premium subscriptions that include Intuitive Artmarket® AI, with a corresponding impact on the growth of our recurring revenue (ARR). Over the coming years, Artprice will increase its research and results to a level never before reached in the art market for its clients and members, offering a whole range of new services and products.

Artprice was particularly interested in a DOMO Inc. study, (figures from which were published by Les Échos/Solutions ). DOMO uses an important index that scores the ability of a company to integrate AI into its processes. This index measures the processing of data/second per employee.

The average is a generation of 1.7 MB of data/second.

Following an IT audit by Mazars, Artprice by Artmarket was able to see for itself that each of its employees generates 35MB/second, i.e. 21 times more than the European average, which is perfectly consistent with Artprice’s Core Business as a major global publisher of professional databases and proprietary algorithms and world leader in information on the Art Market.

Artprice monitors the attitudes and policies of the Big Five Audit & Consulting firms towards AI. Clearly AI is ‘the major subject’. For example, Accenture and NVIDIA announcing an alliance under the name Accenture NVIDIA Business Group, to bring companies into the AI era.

Arnaud Naudan, President of BDO France reacted on Ecorama: “One of the two major challenges for our clients is artificial intelligence”. Deloitte, the leading Big 5 Auditor, created AI Institute “to bring together the brightest minds in the field of AI”. For KPMG: “Three quarters of French CEOs consider that their management team is aware of the benefits of Generative Artificial Intelligence to strengthen the competitiveness of their companies (CEO Outlook Study).

This cultural revolution is introducing a whole new vocabulary to the commercial world. But the processes and tools that make up AI are already scientifically at the very core of Artprice by Artmarket. Via this new vocabulary, Artprice’s clients and partners are discovering the unexplored riches of Artprice and the extraordinary depth of data that corresponds exactly to their needs.

In addition, Artprice by Artmarket has twice consecutively obtained the state label “Innovative Company” (a rare occurrence for companies listed on a regulated market), awarded by the Banque Publique d’Investissement (BPI) and it is pursuing its ambitions in this direction.

Artprice by Artmarket.com, drawing on the experience of its parent company Groupe Serveur – a pioneer of the Internet in Europe, legal databases, and the first computer-generated images since 1987 – has developed over these decades thousands of increasingly powerful and relevant proprietary algorithms with more than 180 data banks which allow it to set up its own Intuitive Artmarket® AI, in strict compliance with various countries’ legislations, particularly those regarding PDP and IP.

This was only possible through the targeted acquisition in 1999 by Groupe Server, then by Artprice, of innovative companies such as Xylogic, a Swiss company composed exclusively of top scientists (from CERN, WHO, etc.) who were considerably ahead of their time and who already pre-figured the solid beginnings and fundamentals of artificial intelligence (see Artmarket.com’s AMF reference document).

In the cozy world of large global publishers of professional databases that Artprice belongs to, it is vital for the long-term development of industries to integrate proprietary AI into core businesses. This is why Artprice by Armarket has taken a very significant lead since 1999 and made 2025/2029 the key period for the commercial launch of its a proprietary algorithmic AI, Intuitive Artmarket®.

According to thierry Ehrmann, Founder of Artprice and CEO of Artmarket.com (official certified Who’s Who In France biography: https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf )

“By exploiting its hundreds of millions of anonymized proprietary logs, texts and tens of millions of artworks in its databases, Artprice by Artmarket algorithms are capable of identifying all the language used to describe the initial approach of an artist, his universe, his inspirations, the mediums used, his themes, his forms and volumes, etc.”

This precious data allows users to get closer to the 861,000 referenced artists with their biographies and certified data, beyond the classic academic visual criteria, thanks to the neural networks of the Intuitive Artmarket® AI.

Our Intuitive Artmarket ® AI can already calculate reliable price information and explore the traceability of an artwork, examining its auction results over time, using the repeated sales method that is specific to Artprice; but it is also capable of anticipating future value fluctuations of unique works.

It can also detect transversal artistic trends of extreme complexity which largely escape the academic, institutional, university and commercial worlds.

In this respect, an in-depth ‘spontaneous awareness’ study was prepared to measure the precise footprint Artprice has in the world of Art and Art History.

The study was conducted during the CIHA Lyon 2024, France – 36th world congress devoted to research in Art History with more than 70 countries and 1000 speakers, where Artprice was a committed patron of these Art History Olympiads which have been held every 4 years in a major city of the world since 1873.

In the study, Artprice ranks as the ‘top-of-mind’ database on the Art Market.

After several months of preparation, Artprice by Artmarket was able to be present during the entire congress, participating in conferences, ensuring a presence at the CIHA book fair and hosting a special evening event at its world headquarters located in the heart of its Organe Museum of Contemporary Art, the entity which manages the “Abode of Chaos” (dixit the New York Times).

In addition to ‘spontaneous awareness’, Artprice also tried to determine the level of ‘qualified awareness’.

This very qualitative study benefited from two exceptional factors: on the one hand, by physically questioning conference attendees from 70 countries, it avoided online or telephone questionnaires, the relevance of which is sometimes unreliable and cannot be truly verified. On the other hand, Artprice was able to interact directly with the registered and certified congress and conference attendees, taking note of their professions, specialties, positions, titles, diplomas, and institutions or universities.

We asked the following question: “Which databases on the Art Market do you know?”

Out of 378 delegates questioned, 325 cited Artprice first, i.e. 86%, clearly placing Artprice as the ‘top-of-mind’ art market database.

‘Top-of-mind’ awareness is the percentage of people whose first response identifies a particular brand, product, or service. It is both a spontaneous response and the first of their responses.

To return to the Intuitive Artmarket ® AI algorithms, they can help art galleries and auction houses set optimal prices for artworks based on various factors such as demand, rarity, and of course the notoriety of the artist concerned. In short, Intuitive Artmarket ® artificial intelligence offers significant potential to revolutionize the art market by improving access to information, personalizing the buyer experience, fighting counterfeiting and opening new creative perspectives.

The Intuitive Artmarket® AI works exclusively on an almost infinite scope of proprietary content, and is therefore protected under IP law, which gives users freedom from potential copyright obstacles and prohibitions. Intuitive Artmarket® AI therefore has no need to look elsewhere for data and/or responses to very specific requests from art market users.

This not only guarantees its sustainability, but also guarantees a considerable increase in Artprice by Artmarket.com revenue over time, via a growing volume of added-value subscriptions.

thierry Ehrmann, CEO of Artprice by Artmarket :

“Over the last two decades Artprice has been recording, observing and inducing hundreds of millions of anonymized human behaviors relating to the art market which, by nature, is infinitely complex because artworks are all different, all singular, and abstract notions of beauty depend on human emotion.”.

This reinforced algorithmic learning has allowed Artprice to create an unique AI model specific to the art market that will constitute the 2025/2029 growth driver for Artprice by Artmarket.

No less than 95% of companies in the S&P 500 plan to build their growth on Artificial Intelligence.

According to the top Anglo-Saxon financial analysts – who are one step ahead of Europe on this subject – the only economically viable model that does not expose the company (whatever its size) to constant legal attacks is an AI based on an extremely well-defined economic segment.

The economic segment of AI is based on five pillars that all relate to the history of IT: Big Data, Deep learning, Data Mining, Proprietary Algorithms, and, of course, a Core Business based on the sale of ultra-qualified information, with standardization of data for all processes.

The information produced by Artprice by Artmarket plays a vital role and the company has full intellectual property rights over all of these five pillars, with copyright and related rights confirmed over all algorithms, databases, Big Data, machine learning (deep learning) and neural networks.

In sum, the AIs that will triumph with a very significant economic gain, without industrial or legal risk, are those created by economic entities that own, in full intellectual property, all the different stages of the proprietary AI in a defined market segment where high added value information, with a high cost, is vital. And this is exactly the case of the Intuitive Artmarket ® AI developed by Artprice by Artmarket.com, World Leader in Art Market information.

Progress of AI Intuitive Artmarket® 2025-2029 master plan: after Blind Spot AI®, Artprice launches its 3rd AI,  AIDB* Search Artist®, (Artificial Intelligence Data Bases).

In the 2025-2029 master plan, Artprice by Artmarket has planned the creation of approximately 20 specific AIs which each represent the sum of the knowledge of each Artprice department. These are Econometrics & Statistics for Art Market Indices, Artist Biographies, Documentary Collections of Manuscripts & Catalogs, Databases, Editorial, Intranet Auctioneers, ArtMarketInsight press agency, Annual Art Market Reports, IT, SGE (Search Generative Experience), Data Analyst & Scientist, R&D, Marketing, Customer Service, Multi-users & Major accounts, Standardized Marketplace, Artist & Creative Entities Communications department , Institutional & Financial Communication, Legal, Financial and Management… in other words, an AI potentially specific to each department.

One of Artprice’s key approaches to AI was to avoid fuzzy set theory, also known as ‘fuzzy logic’, which is a method based on ‘degrees of truth’ rather than the usual Boolean logic system based on 0 or 1. This amounts to searching, in Boolean logic, for unknown but nonetheless indisputable underlying elements.

Artprice has developed, among other things, a unique approach to its Intuitive Artmarket® AI which it calls Blind Spot AI®. This revolutionary AI concept, created by Artprice, searches the blind spots between structured data.

In Art History, our Blind Spot AI® would be the equivalent to Marcel Duchamp’s infrathin concept, which is an aesthetic and scientific notion designating an imperceptible difference or interval, sometimes only imaginable but very real, between two identified phenomena.

This Duchampian theory came from work with the famous mathematician Henri Poincaré, author of Science and Hypothesis, a work on the importance of using models in science. It is plausible that this work inspired Einstein for his thinking which led to the founding article of the theory of special relativity, published in 1905.

Indeed, among the major global publishers of databases, we are fully conscious that there is no room for mistakes as the relationship of trust established with users cannot tolerate approximate or erroneous data.

Artprice is demonstrating that it is possible to produce unexplored data with its proprietary AI and its Blind Spot AI ® process, without undermining the trust that has, for 27 years, been based on indisputable, reliable, exhaustive and long-lasting data, essential to Artprice’s clients, namely Experts, Auctioneers / Auction Houses, Art Dealers, Gallerists, Institutions, Museums, Insurance Companies, Private Bankers, Banks, Asset Managers and Collectors.

Considering the sometimes very high financial values of artworks, we are perfectly aware that our loyal and recurring Artprice clientele will not tolerate the slightest error.

In its beta test at the end of 2024, Artprice by Artmarket provided proof that having stabilized the question of alignment (the ‘alignment’ problem) in a decade – which is essential for the successful completion of the genesis and then the construction of its Intuitive Artmarket® AI – the high added value data produced by its Intuitive Artmarket® AI respects the ethics, values, expectations and human sensitivities that are specific to the Artprice by Artmarket group, its clients and to the intangible and centuries-old rules of the art market.

During 2025, Artprice, with its AIDB Search Artist® will allow its 9.3 million customers and members to search for an artwork via a paid service, based on a photograph of the work, (similar to Google Lens), to find the same or similar works on Artprice, with the artist’s data.

Our proprietary Artprice AI application, AIDB Search Artist®, is the result of seven years of development, taking into account the 210 million images or engravings of works of art (with a hard core of 18 million tokenized images) from 1700 to the present day from the largest collection in the world of physical manuscripts and art market sales catalogs, a veritable ‘Library of Alexandria‘, that belongs to Artprice by Artmarket and has been annotated and analyzed by our historians and experts.

Artprice’s AIDB Search Artist® AI application could only be designed by having full control over all the processes and copyrights, with manual learning, in the early years, by Artprice specialists to train a deep-learning application, allowing research on an artwork, which no other specialized company has succeeded in achieving to date.

In fact, the thirty companies that were confronted with this exercise limited it to their non-exhaustive content where the references rarely exceeded 20,000 artists, whereas Artprice lists 861,000. Furthermore, in many cases, the reproduction rights of the artists were not honored.

In the context of Intellectual Property, artists’ rights are frequently absent from AI and are often victims of copyright violations. That is why Artprice pays for the reproduction rights of the artists it references through 54 copyright societies in different countries.

A fourth AI tool will be based on the recognition and expertise of the signatures and monograms of artists from the 4th century to the present day: AIDB signatures & monograms® by Artprice.

It has been trained using the three largest global databases of signatures and monograms, acquired by Artprice over the past 28 years: Caplan & Creps (USA), Sound View Press (USA), Editions Van Wilder (Europe), Enrique Mayer (Switzerland) [see Artmarket.com reference document].

Progress of the 2025 Intuitive Artmarket® AI master plan, concerning investments in NVIDIA’s Project DIGITS

Artprice by Artmarket has fully approved the technological concept and resulting legal solution of NVIDIA’s Project DIGITS.

Indeed, this compact and energy-efficient box format represents a genuine revolution. It will allow Artprice to equip all of its employees with Project DIGITS boxes within the framework of production, knowledge and expertise. Everything will be connected exclusively to the Artprice by Artmarket’s Intranet via a DMZ network. 

With Project DIGITS, users can develop and run inference on models using their own desktop system, then seamlessly deploy the models to exclusive Artprice-owned cloud or data center infrastructure.

According to Jensen Huang, founder and CEO of NVIDIA,”AI will be mainstream in every application for every industry. With Project DIGITS, the Grace Blackwell Superchip comes to millions of developers. Placing an AI supercomputer on the desks of every data scientist, AI researcher and student empowers them to engage and shape the age of AI.”

Likewise, all the data generated by Artprice’s numerous proprietary AIs will only be generated from these 180 proprietary data banks, which significantly limits the phenomenon of ‘hallucination’ specific to AI. Lastly, the control of methodological biases is much better managed, because all of the calculation and reflection chains will rely entirely on the Artprice databases and its global Intranet which has been connecting to its 7,200 partner Auction Houses for 28 years.

According to Artprice’s analysis, NVIDIA’s Project DIGITS is based on a singular innovation: the GB10 Grace Blackwell chip. The box using this chip provides a computing power reaching 1 petaflop, or the equivalent of 1000 operations per second in FP4 precision. Finally, its real strength remains in its ability to run AI models with up to 200 billion parameters – a performance that rises to 405 billion when two units are connected together.

The device comes with Linux-based NVIDIA DGX OS.

Artprice by Artmarket, since its inception, has developed all of its infrastructures and databases under Linux and therefore has perfect mastery of the Linux Kernel to integrate a Project DIGITS for each Artprice employee, whatever their function.

According to Artprice, this strategy can only be a winner. By individually offering this type of equipment with colossal power at a competitive price, NVIDIA meets Artprice’s specifications and thus confirms its position as the leader in accelerated computing.

Artprice is reinforced by its analysis of Deepseek-R1

Artprice by Artmarket monitors and analyzes all the main LLMs (Large Language Models), particularly those in Open Source.

Since its irruption in January 2025, Artprice has naturally analyzed Deepseek R1 in Open Source – an open weighted model of 671 billion parameters which performs comparably to OpenAI, but at a 90 to 95% lower cost by distilling 6 Llama and Qwen models.

Now continuing its work in this direction, DeepSeek has released DeepSeek-R1, which uses a combination of RL and supervised fine-tuning to handle complex reasoning tasks and match the performance of Open AI o1.

In testing, DeepSeek-R1 scored 79.8% on the AIME 2024 math tests and 97.3% on the MATH-500. It also scored 2,029 on Codeforces, better than 96.3% of human programmers. On the other hand, Open AI’s o1-1217 obtained 79.2%, 96.4% and 96.6% respectively on these tests. It also demonstrated strong general knowledge, with an accuracy of 90.8% on the MMLU, just behind o1’s 91.8%.

For Artprice by Artmarket, the heated and controversial debates surrounding Deepseek simply confirm the importance of Artprice’s work and analysis on the real measured needs for its Intuitive Artmarket® AI.

The decisive parameter that validated Deepseek’s impact was the ‘Black Monday’ on Wall Street on January 27, 2025, which saw over a $1 trillion withdrawn from American tech stocks. The Western world was largely surprised to discover the language models of this start-up, whose performances are comparable with those of American AI leaders (OpenAI, Anthropic, Meta), but at an infinitely lower cost to use.

On this ‘black day’ for the tech industry, one company fared better than the others: Apple. Its shares increased by 3.18%, even though the company is also concerned with generative artificial intelligence via its Apple Intelligence suite. One of the reasons for this resistance is that DeepSeek’s work validates several avenues chosen by Apple.

For the Artprice group, limiting the energy costs of AI is a reality that could inspire the world of large publishers of vertical data banks to which it belongs.

Apple Intelligence’s vision reinforces Artprice’s convictions

Our reasoning is similar to Apple Intelligence where Tim Cooks, Apple’s CEO, has perfectly understood that his clients are above all creators and artists who want to work on their own while avoiding regular plundering by third parties. At Artprice we have equipped employees in our Artistic Direction department with the M4 chips equipped with Apple’s Neural Engine while awaiting Apple’s AI Chip, developed with Broadcom, known for the time being as “Baltra”.

Artprice analyzes the Peak Data question and delivers its analysis of the Internet ecosystem

For Artprice, Elon Musk’s warning, echoing predictions of Ilya Sutskever, former scientific chief of OpenAI, who from 2022 warned of the imminence of a “peak data” moment, is a very concrete reality. This concept, borrowed from “peak oil” theory, suggests that the amount of quality data available for training AI, primarily from the web and online human activity, has peaked and is beginning to decline.

Artprice considers that Peak Data, Slop and the gradual destruction of free websites constitute a threat to the Internet ecosystem. Likewise, “autophagy”, where AI feeds on AI, can lead to a collapse of models, which produce responses that initially become less and less original and relevant, and then end up having no meaning, according to an article published at the end of July 2024, in the scientific journal Nature.

Concretely, with the use of this type of data called “synthetic data” (because it is generated by machines), the sample from which the AI models draw to provide their answers loses in richness.

The analysis by Eric Schmitt, former CEO of Google, validates Artprice’s economic model for AI.

In a conference at Stanford University, Eric Schmitt showed that he agrees with Artprice’s reasoning, where the virtuous economic model of AI can only be achieved through paid models, due to the simple fact that AI requires, for its training, high value-added data which is protected by copyright and other related rights. This has been Artprice’s Core Business for 28 years.

In addition, the former Google CEO indicates that the cash burn of AI development is so high that a company will need a paid economic model, since the data from the free Internet will be ‘exhausted’ by peak data.

About the EU AI Act and Intellectual Property regarding global AI

According to Perplexity AI, intellectual property case law related to AI is still evolving, but several key principles are emerging domestically and internationally.

The AI Act protects the rights of authors against the use of their works by generative AI systems through several key measures:

– Obligation of transparency: Generative AI providers must indicate whether the data used to train their models is protected by copyright. They must also provide a detailed summary of the protected works exploited, in accordance with Article 28 ter of the AI Act.

– Right of opposition (opt-out): Authors can refuse the use of their works for training AI by exercising their right of opposition. This mechanism is provided for by the 2019 European Copyright Directive and reinforced by the AI Act, although it remains difficult to apply in practice due to the lack of control over the actual uses of works online.

– Traceability and accountability: The AI Act imposes traceability requirements to ensure that AI developers inform users and rights-holders about the origin of the data used, allowing for better rights management and increased transparency.

– Legal framework: The regulation aims to balance innovation and protection of authors by establishing mechanisms such as collective management, which facilitates the consultation of authorizations and ensures fair remuneration to creators for the commercial use of their works.

These provisions aim to protect the rights of authors while encouraging ethical and transparent use of generative AI technologies.

According to Artprice, within the framework of Europe’s AI Act and the creation of an EU AI Office, each jurisdiction will face numerous new obligations within sometimes very short deadlines. In total, Artprice has identified 88 responsibilities at the national level that are regularly discussed in its Boards of Directors and its Internal Control meetings.

Lastly, during the recent AI Action Summit, President Emmanuel Macron stated “We will continue to defend copyright and similar rights. We will continue to preserve human creativity. AI will bring lots of revolutions, lots of things, but creativity remains human. AI is, first of all, a true technological and scientific revolution for progress and in the service of progress. This revolution must be conducted in the service of humanity, to improve lives.”

How is the explosion of artificial intelligence disrupting today’s world and particularly the art market? How to measure it in the face of the energy transition that is also a major issue?

For thierry Ehrmann, Founder of Artprice and CEO of Artmarket.com:

“We live in a world where computing power doubles every six months. Gordon Moore’s law, (Founder of Intel), which historically suggested that the number of transistors on a chip doubled every eighteen months at equal price, has been surpassed by new ‘scaling laws’. From now on, the acceleration of generative AI could be measured by a formula that I suggest as ‘token (digital asset) per Euro and per watt’, that is to say a new unit of measurement corresponding to the way in which AI processes a request for information, taking into account each euro spent and each watt actually consumed.

We are certain that it would be extremely dangerous for LLM publishers to ignore the carbon impact. It is simply excessive. Deepseek R1, but also in recent days a whole series of researchers from the Anglo-Saxon world, have all confirmed that it is possible to design LLMs with much more energy-frugal servers. It is strange that in the midst of the energy transition, this subject has been largely side-stepped.

We must remember with humility that the human brain’s language functioning is beginning to be well imitated by AI, while those of mathematics and geometry remain largely misunderstood.

Furthermore, seen as an integrated circuit, the human brain, from the scientific point of view, is to this day inimitable.

Even if we begin to understand its algorithms and reproduce them in very high capacity servers with several hundred billion parameters, we still cannot reproduce them with the same energy efficiency. Where the human brain weighs 1.4 kg and operates with only 30 watts, the AI giants in the USA are racing towards nuclear power plants and gigantic dams… Indeed, Microsoft is relaunching the Three Mile Island nuclear power plant in the state of Pennsylvania in the USA. Meanwhile, the human brain, with its capacity for imagination and creativity, remains unbeatable by the unit of measurement of AI which is the “token per Euro and per watt”.

According to thierry Ehrmann, Founder of Artprice & Groupe Serveur and CEO of Artmarket.com, the Group’s line of action for its AI is very simple:

“There cannot be artificial intelligence without human intelligence.” This notion underlines the importance that our group attaches to the interaction between human intelligence and artificial intelligence in the development of its own AI, called Intuitive Artmarket®. “This philosophy was firmly anchored in our group when we started the beginnings of AI in 1987 with shape recognition algorithms that were at the heart of the Lumière® stations (artificial computer-generated images) designed by Groupe Serveur and based on advanced techniques such as 3D rendering, light-matter simulation, vector modeling and raster mode.”

Analysis of Perplexity AI by Artprice and Groupe Serveur

All the dozens of subjects and studies of AI conducted over many years by Artprice, as well as the history of the development of its Intuitive Artmarket® AI, Blind Spot AI® as a revolutionary concept in AI, of which Artprice is the author, are available on: https://www.perplexity.ai/ 

Groupe Serveur, main shareholder of Artprice, which was at the origin of the first Linux search engine in France Netscan in the 1990s, considers, through its expertise of more than 38 years, that Perplexity AI has emerged as the best solution at this point in the artificial intelligence scene as a sophisticated search engine and chatbot. It is by combining these two roles that it facilitates a deep understanding of natural language.

Aravind Srinivas, Principal Founder and CEO of Perplexity, co-founded with Denis Yarats, Johnny Ho and Andy Konwinski have managed to make Perplexity AI a potential competitor for Google. In 2025,  Deep Web researchers use it as their main working tool.

The initiative behind Perplexity AI motivated the development of a conversational engine that can answer various questions in real time. This gives it, according to Artprice and Groupe Serveur, an undeniable competitive advantage in the field of AI, by scrupulously respecting copyright and related rights when displaying its sources.

By investing in technical advances, Perplexity AI has built an architecture that uses modern neural approaches. This allows for better interpretation and management of complex language-related tasks. The community of search engine professionals such as SEO consultants, web SEOs and creative netlinkers who work with SE algorithms is predominantly in favor of Perplexity AI according to opinions collected by Artprice and Groupe Serveur in January 2025.

Copyright 1987-2025 thierry Ehrmann www.artprice.com – www.artmarket.com

Artprice’s econometrics department can answer all your questions relating to personalized statistics and analyses: econometrics@artprice.com

Find out more about our services with the artist in a free demonstration: https://artprice.com/demo

Our services: https://artprice.com/subscription

About Artmarket.com:

Artmarket.com is listed on Eurolist by Euronext Paris. The latest TPI analysis includes more than 18,000 individual shareholders excluding foreign shareholders, companies, banks, FCPs, UCITS: Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Watch a video about Artmarket.com and its Artprice department: https://artprice.com/video

Artmarket and its Artprice department were founded in 1997 by thierry Ehrmann, the company’s CEO. They are controlled by Groupe Serveur (created in 1987). cf. the certified biography from Who’s Who In France©:

https://imgpublic.artprice.com/img/wp/sites/11/2025/02/2025-Biographie_de_Thierry_Ehrmann-Who-s-Who-In-France.pdf

Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information (the original documentary archives, codex manuscripts, annotated books and auction catalogs acquired over the years) in databanks containing over 30 million indices and auction results, covering more than 863,000 artists.

Artprice Images® allows unlimited access to the largest art market image bank in the world with no less than 181 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket, with its Artprice department, constantly enriches its databases from 7,200 auction houses and continuously publishes art market trends for the main agencies and press titles in the world in 119 countries and 9 languages.

https://www.prnewswire.com/news-releases/artmarketcom-artprice-and-cision-extend-their-alliance-to-119-countries-to-become-the-worlds-leading-press-agency-dedicated-to-the-art-market-nfts-and-the-metaverse-301431845.html

Artmarket.com makes available to its 9.3 million members (members log in) the advertisements posted by its Members, who now constitute the first global Standardized Marketplace® for buying and selling artworks at fixed or auction prices (auctions regulated by paragraphs 2 and 3 of Article L321.3 of France’s Commercial Code).

There is now a future for the Art Market with Artprice’s Intuitive Artmarket® AI.

Artmarket, with its Artprice department, has twice been awarded the State label “Innovative Company” by the French Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.

Artprice by Artmarket publishes its 2024 Contemporary Art Market Report:

https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2024

See our 2023 Global Art Market Annual Report, published in March 2024 by Artprice by Artmarket: https://www.artprice.com/artprice-reports/the-art-market-in-2023

Summary of Artmarket press releases with its Artprice department: https://serveur.serveur.com/artmarket/press-release/en/

Follow all the Art Market news in real-time with Artmarket and its Artprice department on Facebook and Twitter:

www.facebook.com/artpricedotcom/ (more than 6.5 million subscribers)

twitter.com/artmarketdotcom

twitter.com/artpricedotcom

Discover the alchemy and the universe of Artmarket and its Artprice department: https://www.artprice.com/video

whose head office is the famous Museum of Contemporary Art Abode of Chaos dixit The New York Times / La Demeure of Chaos:

https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

La Demeure du Chaos/Abode of Chaos – Total Work of Art and Singular Architecture.
Confidential bilingual work, now made public: https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf

L’Obs – The Museum of the Future: https://youtu.be/29LXBPJrs-ohttps://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (more than 4.1 million subscribers)https://vimeo.com/124643720

Contact Artmarket.com and its Artprice department –  Thierry Ehrmann, ir@artmarket.com

Photo – https://mma.prnewswire.com/media/2617848/AI_Action_Summit.jpg
Photo – https://mma.prnewswire.com/media/2617847/AI_Intuitive_Artmarket.jpg
Logo – https://mma.prnewswire.com/media/2260897/Artmarket_logo.jpg

 

 

 

 

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Technology

Siris to Acquire Equiniti’s Retirement Solutions, Customer Resolutions and Lenvi Businesses

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Transaction to be Completed in Parallel with the Closing of Equiniti’s Previously Announced Sale to Bullish

WEST PALM BEACH, Fla., July 24, 2026 /PRNewswire/ — Siris (together with its affiliates, “Siris”), a leading private equity firm focused on control investments in mission-critical services businesses, today announced that it has elected to exercise its option to maintain ownership of EQ Retirement Solutions (“EQRS”), EQ Customer Resolutions (“EQCR”) and Lenvi from Equiniti (“EQ”). The three businesses provide essential services to UK pension schemes, financial institutions and corporate clients.

The transaction follows Siris’s previously announced agreement to sell EQ to Bullish (NYSE: BLSH), under which Siris retained the option to acquire these businesses. It is expected to be completed in parallel with the closing of EQ’s previously announced sale to Bullish in January 2027, subject to customary closing conditions and required regulatory approvals.

EQRS is a leading provider of outsourced pension administration services and proprietary administration software, including its Compendia platform, supporting more than 10 million members and £10 billion in annual payments for many of the UK’s largest public and private sector pension schemes. EQCR helps financial institutions and other regulated businesses manage customer and complaints resolution, combining specialist staffing and technical expertise with proprietary case management software. Lenvi provides loan servicing software, standby servicing and fraud detection software for banks and non-bank lenders, with more than £100 billion of credit assets managed on behalf of over 150 lenders through its FCA-regulated platform.

Siris has owned EQ since 2021 and has invested significantly in the three businesses during that period. Under renewed and dedicated Siris ownership, the businesses will further accelerate investment in technology, including AI-enabled administration capabilities, onboarding capacity and enhanced member experience, while maintaining continuity of service for clients.

“Maintaining ownership of EQRS, EQCR and Lenvi will establish these businesses as a dedicated platform within our portfolio, with a clear mandate to invest in their growth,” said Frank Baker, Co-Founder and Managing Partner, and Grant Weisberg, Principal, at Siris. “We have seen firsthand the strength of these assets, the quality of their teams and the opportunities ahead for them. As a standalone platform with dedicated focus and resources behind them, these businesses will be well positioned to accelerate their momentum and create long-term value for all stakeholders in this next chapter.”

About Siris

Siris is a leading private equity firm focused on control investments in mission-critical services businesses. Based in West Palm Beach, Florida, Siris has deployed more than $9 billion of equity capital since inception. www.siris.com.

Media Contact

Madeline Jones / Kate Kelley
Joele Frank, Wilkinson Brimmer Katcher
Siris-JF@JoeleFrank.com
(212) 355-4449

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SOURCE Siris Capital Group, LLC

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The PMA Rallies the International Community to Act Before the Breaking Point: The Severance of Correspondent Banking Relationships Threatens the Economy and Life

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RAMALLAH, Palestine, July 24, 2026 /PRNewswire/ — The PMA Governor, Mr. Yahya Shunnar, warned during a high-level meeting convened by the Palestinian Monetary Authority, with the participation of several ambassadors and representatives of international financial institutions, of the grave consequences of the severance of correspondent banking relationships (CBR). He stressed that the continuation of the Israeli measures is driving the Palestinian economy toward collapse, threatening food security and the provision of essential services.

The PMA convened the session under the title “The Breaking Point: Sounding the Alarm Before the Collapse.” Featuring remarks by the Governor of the Central Bank of Jordan, Dr. Adel Al Sharkas; the Director General and Chairman of the Arab Monetary Fund, Dr. Fahad Al Turki, via videoconference; the IMF’s Resident Representative, Mr. Tobias Roy; the Senior Adviser UNSCO, Mr. Hansjoerg Strohmeyer; and the Chairman of the Association of Banks in Palestine, H.E. Mr. Maher Al-Masri.

Governor Shunnar urged the international community to act immediately to preserve CBRs — Palestine’s only gateway to goods and services worldwide under the Paris Economic Protocol — and to secure reliable, sustainable arrangements ensuring the uninterrupted flow of trade with Israel and the wider world.

Any disruption or termination of these relationships, he warned, would reach far beyond the financial sector and could rapidly escalate into an economic and humanitarian crisis. Broken supply chains could trigger shortages of fuel, energy, and essential food commodities, alongside rising prices, unemployment, and poverty — all amid a worsening fiscal crisis driven by Israel’s continued withholding of clearance revenues, which further limits the Palestinian government’s ability to meet its obligations and deliver essential services.

Shunnar noted that 90% of Palestinian exports go to Israel, while 100% of imports originate from or pass through it, some 60% directly. Israeli correspondent banks processed roughly NIS 51 billion in transactions during 2025, underscoring how critical these channels are to sustaining economic activity.

He added that nearly NIS 18 billion (about USD 6 billion) sits idle in bank vaults, sharply constraining the banking sector.

Participants acknowledged that the window for effective action is narrowing rapidly, and that averting this scenario requires urgent, coordinated intervention to secure stable, sustainable arrangements that keep the Palestinian banking sector connected to the global financial system.

Contact:
hshehadeh@pma.ps 
+972594202078

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Charter Announces Second Quarter 2026 Results

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STAMFORD, Conn., July 24, 2026 /PRNewswire/ — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”), which operates the Spectrum brand, today reported financial and operating results for the three and six months ended June 30, 2026.

Second quarter Spectrum MobileTM lines increased by 406,000 and by 1.7 million over the last twelve months. As of June 30, 2026, Charter served 12.5 million mobile lines.During the second quarter, Spectrum Internet® customers declined by 172,000. As of June 30, 2026, Charter served 29.4 million Internet customers.Video customers decreased by 21,000 in the second quarter and declined by 107,000, or 0.8%, over the last twelve months. As of June 30, 2026, Charter served 12.5 million video customers.As of June 30, 2026, customer relationships totaled 31.5 million and connectivity customers totaled 30.4 million.Second quarter revenue of $13.5 billion declined 1.7% year-over-year, primarily driven by lower residential video revenue.Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter.Second quarter Adjusted EBITDA1 of $5.4 billion declined 4.3% year-over-year and by 3.2% excluding transition expenses.Second quarter capital expenditures totaled $2.9 billion.Second quarter net cash flows from operating activities of $3.9 billion vs. $3.6 billion in the prior year.Second quarter free cash flow1 of $969 million declined $77 million versus the prior year, primarily due to an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher operating cash flow.During the second quarter, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million and $1.2 billion in aggregate principal amount of Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash.

“We operate in a competitive environment across all of our products, and our strategy for growing connectivity services is simple — deliver the best products, at the best overall value, with the best service,” said Chris Winfrey, President and CEO of Charter. “We look forward to delivering the benefits of that strategy to Cox’s customers and communities after the transaction closes. As the nation’s leading provider of converged connectivity services, Spectrum will have additional scale to develop new products with industry and technology partners. And by saving customers money with Spectrum products, serviced by 100% US-based employees — we will drive customer and shareholder value for years to come.”

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.

Key Operating Results

Approximate as of

June 30, 2026 (d)

June 30, 2025 (d)

Y/Y Change

Footprint

Estimated Passings (e)

58,981

57,540

2.5 %

Customer Relationships (f)

Residential

29,276

29,819

(1.8) %

Small Business

2,223

2,241

(0.8) %

Total Customer Relationships

31,499

32,060

(1.7) %

Residential

(176)

(95)

(81)

Small Business

(8)

(5)

(3)

Total Customer Relationships Quarterly Net Additions

(184)

(100)

(84)

Total Customer Relationship Penetration of Estimated Passings (g)

53.4 %

55.7 %

(2.3) ppts

Monthly Residential Revenue per Residential Customer (h)

$               117.52

$               119.70

(1.8) %

Monthly Small Business Revenue per Small Business Customer (i)

$               165.27

$               162.91

1.4 %

Residential Customer Relationships Penetration (j)

One Product Penetration

47.4 %

48.7 %

(1.3) ppts

Two Product Penetration

35.1 %

33.8 %

1.3 ppts

Three or More Product Penetration

17.6 %

17.5 %

0.1 ppts

Connectivity (k)

Residential

28,306

28,705

(1.4) %

Small Business

2,069

2,076

(0.4) %

Total Connectivity Customers

30,375

30,781

(1.3) %

Residential

(140)

(53)

(87)

Small Business

(5)

(4)

(1)

Total Connectivity Quarterly Net Additions

(145)

(57)

(88)

Internet

Residential

27,358

27,868

(1.8) %

Small Business

2,030

2,040

(0.5) %

Total Internet Customers

29,388

29,908

(1.7) %

Residential

(166)

(111)

(55)

Small Business

(6)

(5)

(1)

Total Internet Quarterly Net Additions

(172)

(116)

(56)

Mobile Lines (l)

Residential

12,099

10,502

15.2 %

Small Business

441

354

24.4 %

Total Mobile Lines

12,540

10,856

15.5 %

Residential

385

471

(86)

Small Business

21

20

1

Total Mobile Lines Quarterly Net Additions

406

491

(85)

Video (m)

Residential

12,010

12,087

(0.6) %

Small Business

514

544

(5.4) %

Total Video Customers

12,524

12,631

(0.8) %

Residential

(11)

(73)

62

Small Business

(10)

(7)

(3)

Total Video Quarterly Net Additions

(21)

(80)

59

Voice

Residential

4,494

5,161

(12.9) %

Small Business

1,200

1,225

(2.1) %

Total Voice Customers

5,694

6,386

(10.8) %

Mid-Market & Large Business (n)

Mid-Market & Large Business Primary Service Units (“PSUs”)

364

350

3.9 %

Mid-Market & Large Business Quarterly Net Additions

4

6

(2)

In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics.  All percentages are calculated using whole numbers. Minor differences may exist due to rounding. 

Second quarter total Internet customers decreased by 172,000, compared to a decline of 116,000 during the second quarter of 2025. Spectrum Internet delivers the most reliable Internet1, and the Company is evolving its connectivity network to offer symmetrical and multi-gigabit Internet speeds across its entire footprint and has launched symmetrical Internet service in several markets. Spectrum expects to complete its network evolution initiative in 2027. In February 2026, Spectrum launched its Invincible WiFiTM product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during a power outage or network disruption. In the first quarter, Spectrum launched its $1,000 savings guarantee; new or existing Spectrum Internet customers switching two or more mobile lines from Verizon, AT&T or T-Mobile are now guaranteed $1,000 of savings in their first year, or Spectrum will cover the difference.

During the second quarter of 2026, Charter added 406,000 total mobile lines, compared to growth of 491,000 during the second quarter of 2025. Spectrum Mobile has faster wireless speeds than the competition (AT&T, T-Mobile, Verizon).2 Spectrum Mobile is central to Charter’s converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.

Total video customers decreased by 21,000 in the second quarter of 2026, compared to a decline of 80,000 in the second quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers’ streaming applications in Spectrum’s expanded basic video packages. As of June 30, 2026, Charter had 12.5 million total video customers.

Spectrum TV Select video customers now receive up to approximately $127 per month of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel, Fox One and Discovery+. Beginning in June 2026, Spectrum customers can purchase ad-supported and ad-free versions of Netflix through the Spectrum App Store. The Spectrum App Store is an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.

During the second quarter of 2026, total wireline voice customers declined by 178,000, compared to a decline of 220,000 in the second quarter of 2025. As of June 30, 2026, Charter had 5.7 million total wireline voice customers.

Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the second quarter of 2026, Charter activated 127,000 subsidized rural passings. Within Charter’s subsidized rural footprint, total customer relationships increased by 47,000 in the second quarter of 2026.

1.

Most reliable Internet claim based on Broadband Reliability Experience among top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2026. Based on Opensignal independent analysis of Internet connectivity, completion, and sufficiency.

2.

Based on Download Speeds among top 5 national providers in Opensignal USA, Converged Experience, April 2026.

Second Quarter Financial Results
(in millions)

Three Months Ended June 30,

2026

2025

% Change

Revenues:

Internet

$    5,776

$    5,969

(3.2) %

Mobile service

1,095

921

18.9 %

Connectivity

6,871

6,890

(0.3) %

Video

3,149

3,488

(9.7) %

Voice

331

346

(4.5) %

Residential revenue

10,351

10,724

(3.5) %

Small business

1,104

1,096

0.7 %

Mid-market & large business

761

740

2.8 %

Commercial revenue

1,865

1,836

1.5 %

Advertising sales

416

371

12.3 %

Other

894

835

7.1 %

Total Revenues

$  13,526

$  13,766

(1.7) %

Net income attributable to Charter shareholders

$    1,292

$    1,301

(0.7) %

Net income attributable to Charter shareholders margin

9.6 %

9.4 %

Adjusted EBITDA1

$    5,449

$    5,693

(4.3) %

Adjusted EBITDA margin

40.3 %

41.4 %

Capital expenditures

$    2,871

$    2,874

(0.1) %

Net cash flows from operating activities

$    3,925

$    3,600

9.0 %

Free cash flow1

$       969

$    1,046

(7.4) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. 

Revenues

Second quarter revenue decreased by 1.7% year-over-year to $13.5 billion, driven by lower residential video revenue mostly due to higher costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue, higher mobile device revenue and higher advertising sales revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, second quarter total revenue declined by 0.8% year-over-year.

Residential revenue totaled $10.4 billion in the second quarter, a decrease of 3.5% year-over-year, driven by a year-over-year decline in residential customers of 1.8% and a decrease in monthly residential revenue per residential customer of 1.8%. Excluding costs allocated to programmer streaming applications and netted within video revenue, residential revenue declined by 1.8%.

Second quarter 2026 monthly residential revenue per residential customer totaled $117.52, a decrease of 1.8% compared to the prior year period. The decline was driven by $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, pricing and packaging mix within Charter’s customer base and a decline in video customers during the last year, partly offset by the growth of Spectrum Mobile. Excluding costs allocated to programmer streaming applications and netted within video revenue, monthly residential revenue per residential customer decreased 0.1% compared to the prior year period.

Internet revenue declined 3.2% year-over-year to $5.8 billion, driven by a decline in Internet customers year-over year and pricing and packaging mix within Charter’s customer base, partly offset by more favorable bundled revenue allocation year-over-year.

Second quarter mobile service revenue totaled $1.1 billion, an increase of 18.9% year-over-year, driven by mobile line growth and rate adjustments.

Video revenue totaled $3.1 billion in the second quarter, a decrease of 9.7% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter’s video customer base, $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, more unfavorable bundled revenue allocation year-over-year and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.

Voice revenue decreased by 4.5% year-over-year to $331 million, driven by a decline in wireline voice customers, partly offset by voice rate adjustments.

Commercial revenue increased by 1.5% year-over-year to $1.9 billion, driven by mid-market and large business revenue growth of 2.8% year-over-year and an increase in small business revenue of 0.7%. Mid-market and large business revenue excluding wholesale increased by 3.5% year-over-year, mostly reflecting PSU growth. The year-over-year increase in second quarter 2026 small business revenue was driven by a 1.4% increase year-over-year in monthly small business revenue per small business customer, partly offset by a decline of 0.8% in small business customer relationships year-over-year.

Second quarter advertising sales revenue of $416 million increased by 12.3% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 4.6% year-over-year driven by lower linear advertising revenue, partly offset by higher streaming advertising revenue.

Other revenue totaled $894 million in the second quarter, an increase of 7.1% compared to the second quarter of 2025, primarily driven by higher mobile device sales, partly offset by a $45 million one-time benefit in the prior year period.

Operating Costs and Expenses

Second quarter total operating costs and expenses were flat year-over-year at $8.1 billion, primarily driven by lower programming costs, offset by higher other costs of revenue and higher transition expenses.

Second quarter programming costs decreased by $218 million, or 9.7% as compared to the second quarter of 2025, reflecting $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, a higher mix of lower cost packages within Charter’s video customer base and fewer video customers, partly offset by contractual programming rate increases and renewals.

Other costs of revenue increased by $186 million, or 11.3% year-over-year, primarily driven by higher mobile device sales, higher mobile service direct costs and higher advertising sales costs given higher political revenue.

Field and technology operations expenses increased by $21 million, or 1.6% year-over-year, primarily driven by higher vehicle fuel costs and medical expenses.

Customer operations expenses increased by $8 million, or 1.1% year-over-year, driven by medical expenses.

Marketing and residential sales expenses decreased by $31 million or 3.1% year-over-year, due to lower marketing expenses from cost savings, despite higher marketing activity.

Transition expenses represent incremental costs incurred to prepare for the integration of the previously announced Cox transaction.

Other expenses decreased by $27 million, or 2.5% as compared to the second quarter of 2025, primarily driven by lower professional services expense.

Net Income Attributable to Charter Shareholders

Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter of 2026 and 2025, with lower Adjusted EBITDA offset by a gain on extinguishment of debt related to open market debt repurchases in the second quarter of 2026.

Net income per basic common share attributable to Charter shareholders totaled $10.76 in the second quarter of 2026 compared to $9.41 during the same period last year. The increase was primarily the result of a 13.1% decrease in basic weighted average common shares outstanding versus the prior year period.

Adjusted EBITDA

Second quarter Adjusted EBITDA of $5.4 billion declined by 4.3% year-over-year, reflecting a decline in revenue of 1.7%, while operating costs and expenses remained flat. Excluding transition expenses, Adjusted EBITDA declined 3.2% year-over-year.

Capital Expenditures

Capital expenditures totaled $2.9 billion in the second quarter of 2026, in-line with the prior year period, with lower line extension spend offset by higher upgrade/rebuild (primarily network evolution).

Charter continues to expect full year 2026 capital expenditures, excluding impacts from the previously announced Cox transaction, to total approximately $11.4 billion. The actual amount of capital expenditures in 2026 will depend on a number of factors including, but not limited to, the pace of Charter’s network evolution and expansion initiatives, supply chain timing and growth rates in Charter’s residential and commercial businesses.

Cash Flow and Free Cash Flow

During the second quarter of 2026, net cash flows from operating activities totaled $3.9 billion, an increase from $3.6 billion in the prior year. The year-over-year increase was primarily due to lower cash taxes, partly offset by lower Adjusted EBITDA.

Free cash flow in the second quarter of 2026 totaled $969 million, a decrease of $77 million compared to the second quarter of 2025. The year-over-year decrease in free cash flow was driven by an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher net cash flows from operating activities.

Liquidity & Financing

As of June 30, 2026, total principal amount of debt was $93.8 billion and Charter’s credit facilities provided approximately $3.7 billion of additional liquidity in excess of Charter’s $509 million cash position.

During the three months ended June 30, 2026, Charter purchased $1.2 billion in aggregate principal amount of various Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash.

Share Repurchases

During the three months ended June 30, 2026, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million.

Webcast

Charter will host a webcast on Friday, July 24, 2026 at 8:00 a.m. Eastern Time (ET) related to the contents of this release.

The webcast can be accessed live via the Company’s investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast.

Additional Information Available on Website

The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which will be posted on the “Results & SEC Filings” section of the Company’s investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the “SEC”). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the “Results & SEC Filings” section.

Use of Adjusted EBITDA and Free Cash Flow Information

The Company uses certain measures that are not defined by U.S. generally accepted accounting principles (“GAAP”) to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release.

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company’s businesses as well as other non-cash or special items, and is unaffected by the Company’s capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.

Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

Management and Charter’s board of directors use Adjusted EBITDA and free cash flow to assess Charter’s performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company’s credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company’s debt covenants refer to these expenses as management fees, which were $336 million and $702 million for the three and six months ended June 30, 2026, respectively, and $366 million and $732 million for the three and six months ended June 30, 2025, respectively.

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.

More information about Charter can be found at corporate.charter.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under “Risk Factors” from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as “believe,” “future,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “initiatives,” “seek,” “would,” “could,” “continue,” “ongoing,” “upside,” “increases,” “grow,” “focused on” and “potential,” among others.  Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:

our ability to sustain and grow revenues and cash flow from operations by offering Internet, mobile, video, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures;the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite (“DBS”) operators, wireless and satellite broadband and telephone providers, digital subscriber line (“DSL”) providers, fiber to the home providers and providers of video content over broadband Internet connections;general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn;our ability to develop and deploy new products and technologies including consumer services and service platforms;any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation;the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us;our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives;our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements);the ability to hire and retain key personnel;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets;our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions;our ability to satisfy the conditions to consummate the Liberty Broadband Combination and/or the Cox Transactions and/or to consummate the Liberty Broadband Combination and/or the Cox Transactions in a timely manner or at all;the risks related to us being restricted in the operation of our business while the Liberty Broadband Merger Agreement and the Cox Communications Transaction Agreement are in effect;other risks related to the Liberty Broadband Combination as described in the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein; andother risks related to the Cox Transactions as described in the definitive proxy statement with respect to the Cox Transactions, filed by Charter on July 2, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES

(dollars in millions) 

 

Three Months Ended
June 30,

Six Months Ended
June 30,

Last Twelve Months
Ended June 30,

2026

2025

2026

2025

2026

2025

Net income attributable to Charter shareholders

$    1,292

$    1,301

$    2,455

$    2,518

$    4,924

$    5,264

Plus:  Net income attributable to noncontrolling interest

232

194

432

386

825

790

Interest expense, net

1,276

1,263

2,532

2,504

5,070

5,089

Income tax expense

475

414

940

859

1,773

1,635

Depreciation and amortization

2,197

2,176

4,408

4,357

8,762

8,670

Stock compensation expense

138

157

341

379

635

663

Other, net

(161)

188

(22)

453

349

752

Adjusted EBITDA (a)

$    5,449

$    5,693

$   11,086

$   11,456

$   22,338

$   22,863

Net cash flows from operating activities

$    3,925

$    3,600

$    8,229

$    7,836

$   16,470

$   15,201

Less:  Purchases of property, plant and equipment

(2,871)

(2,874)

(5,726)

(5,273)

(12,112)

(10,898)

Change in accrued expenses related to capital expenditures

(85)

320

(162)

47

377

910

Free cash flow (a)

$       969

$    1,046

$    2,341

$    2,610

$    4,735

$    5,213

The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.

 

UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA

(dollars in millions) 

 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

REVENUES:

Internet

$        5,776

$        5,969

(3.2) %

$       11,628

$       11,899

(2.3) %

Mobile service

1,095

921

18.9 %

2,147

1,835

17.0 %

Connectivity

6,871

6,890

(0.3) %

13,775

13,734

0.3 %

Video

3,149

3,488

(9.7) %

6,401

7,068

(9.4) %

Voice

331

346

(4.5) %

669

702

(4.7) %

Residential revenue

10,351

10,724

(3.5) %

20,845

21,504

(3.1) %

Small business

1,104

1,096

0.7 %

2,194

2,184

0.4 %

Mid-market & large business

761

740

2.8 %

1,510

1,474

2.4 %

Commercial revenue

1,865

1,836

1.5 %

3,704

3,658

1.2 %

Advertising sales

416

371

12.3 %

774

711

9.0 %

Other

894

835

7.1 %

1,800

1,628

10.6 %

Total Revenues

13,526

13,766

(1.7) %

27,123

27,501

(1.4) %

COSTS AND EXPENSES:

Programming

2,035

2,253

(9.7) %

4,123

4,555

(9.5) %

Other costs of revenue

1,837

1,651

11.3 %

3,602

3,235

11.3 %

Field and technology operations

1,313

1,292

1.6 %

2,571

2,574

(0.1) %

Customer operations

785

777

1.1 %

1,551

1,549

0.2 %

Marketing and residential sales

927

958

(3.1) %

1,846

1,907

(3.2) %

Transition expenses (b)

65

n/a

89

n/a

Other expense (c)

1,115

1,142

(2.5) %

2,255

2,225

1.3 %

Total operating costs and expenses (c)

8,077

8,073

— %

16,037

16,045

(0.1) %

Adjusted EBITDA (a)

$        5,449

$        5,693

(4.3) %

$       11,086

$       11,456

(3.2) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.  See footnotes on page 7.

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in millions, except per share data)

 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

REVENUES

$      13,526

$      13,766

$       27,123

$       27,501

COSTS AND EXPENSES:

Operating costs and expenses (exclusive of items shown separately below)

8,215

8,230

16,378

16,424

Depreciation and amortization

2,197

2,176

4,408

4,357

Other operating expenses, net

51

81

66

204

10,463

10,487

20,852

20,985

Income from operations

3,063

3,279

6,271

6,516

OTHER INCOME (EXPENSES):

Interest expense, net

(1,276)

(1,263)

(2,532)

(2,504)

Other income (expenses), net

212

(107)

88

(249)

(1,064)

(1,370)

(2,444)

(2,753)

Income before income taxes

1,999

1,909

3,827

3,763

Income tax expense

(475)

(414)

(940)

(859)

Consolidated net income

1,524

1,495

2,887

2,904

Less: Net income attributable to noncontrolling interests

(232)

(194)

(432)

(386)

Net income attributable to Charter shareholders

$        1,292

$        1,301

$        2,455

$        2,518

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:

Basic

$        10.76

$         9.41

$        20.00

$        18.00

Diluted

$        10.66

$         9.18

$        19.81

$        17.59

Weighted average common shares outstanding, basic

120,121,017

138,205,810

122,789,924

139,889,251

Weighted average common shares outstanding, diluted

121,255,667

141,684,415

123,969,262

143,098,493

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in millions) 

 

June 30,

December 31

2026

2025

ASSETS

(unaudited)

CURRENT ASSETS:

Cash and cash equivalents

$               509

$               477

Accounts receivable, net

3,651

3,680

Prepaid expenses and other current assets

813

987

Total current assets

4,973

5,144

INVESTMENT IN CABLE PROPERTIES:

Property, plant and equipment, net

47,955

46,444

Customer relationships, net

238

440

Franchises

67,471

67,471

Goodwill

29,710

29,710

Total investment in cable properties, net

145,374

144,065

OTHER NONCURRENT ASSETS

5,271

5,004

Total assets

$         155,618

$         154,213

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Accounts payable, accrued and other current liabilities

$           12,779

$           12,556

Current portion of long-term debt

999

750

Total current liabilities

13,778

13,306

LONG-TERM DEBT

92,960

94,006

EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY

1,596

1,447

DEFERRED INCOME TAXES

20,237

19,841

OTHER LONG-TERM LIABILITIES

5,146

5,094

SHAREHOLDERS’ EQUITY:

Controlling interest

16,952

16,054

Noncontrolling interests

4,949

4,465

Total shareholders’ equity

21,901

20,519

Total liabilities and shareholders’ equity

$         155,618

$         154,213

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in millions) 

 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Consolidated net income

$        1,524

$        1,495

$        2,887

$        2,904

Adjustments to reconcile consolidated net income to net cash flows from operating activities:

Depreciation and amortization

2,197

2,176

4,408

4,357

Stock compensation expense

138

157

341

379

Noncash interest, net

6

7

12

15

Deferred income taxes

203

(53)

417

(80)

Other, net

(212)

117

(86)

350

Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:

Accounts receivable

(141)

(238)

(136)

(286)

Prepaid expenses and other assets

(3)

66

4

(169)

Accounts payable, accrued liabilities and other

213

(127)

382

366

Net cash flows from operating activities

3,925

3,600

8,229

7,836

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment

(2,871)

(2,874)

(5,726)

(5,273)

Change in accrued expenses related to capital expenditures

(85)

320

(162)

47

Other, net

(243)

(67)

(285)

(199)

Net cash flows from investing activities

(3,199)

(2,621)

(6,173)

(5,425)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings of long-term debt

4,394

3,723

11,610

5,116

Borrowings of equipment installment plan financing facility

112

148

233

Repayments of long-term debt

(4,609)

(3,184)

(12,108)

(4,793)

Payments for debt issuance costs

(1)

(30)

(1)

Purchase of treasury stock

(852)

(1,451)

(1,878)

(2,253)

Proceeds from exercise of stock options

11

2

13

19

Purchase of noncontrolling interest

(232)

(252)

Distributions to noncontrolling interest

(20)

(121)

(22)

(124)

Other, net

327

(44)

212

(213)

Net cash flows from financing activities

(749)

(1,196)

(2,055)

(2,268)

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

(23)

(217)

1

143

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period

622

866

598

506

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period

$           599

$           649

$           599

$           649

CASH PAID FOR INTEREST

$        1,439

$        1,444

$        2,506

$        2,439

As of June 30, 2026, March 31, 2026, December 31, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, cash, cash equivalents and restricted cash includes $90 million, $105 million, $121 million, $43 million, $70 million and $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets, respectively.

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED SUMMARY OF OPERATING STATISTICS

(in thousands, except per customer and penetration data)

 

Approximate as of

June 30,
2026 (d)

March 31,
2026 (d)

December 31,
2025 (d)

June 30,
2025 (d)

Footprint

Estimated Passings (e)

58,981

58,661

58,399

57,540

Customer Relationships (f)

Residential

29,276

29,452

29,609

29,819

Small Business

2,223

2,231

2,237

2,241

Total Customer Relationships

31,499

31,683

31,846

32,060

Residential

(176)

(157)

(125)

(95)

Small Business

(8)

(6)

(2)

(5)

Total Customer Relationships Quarterly Net Additions

(184)

(163)

(127)

(100)

Total Customer Relationship Penetration of Estimated Passings (g)

53.4 %

54.0 %

54.5 %

55.7 %

Monthly Residential Revenue per Residential Customer (h)

$   117.52

$   118.44

$     117.19

$   119.70

Monthly Small Business Revenue per Small Business Customer (i)

$   165.27

$   162.71

$     159.85

$   162.91

Residential Customer Relationships Penetration (j)

One Product Penetration

47.4 %

47.7 %

48.0 %

48.7 %

Two Product Penetration

35.1 %

34.8 %

34.5 %

33.8 %

Three or More Product Penetration

17.6 %

17.5 %

17.5 %

17.5 %

Connectivity (k)

Residential

28,306

28,446

28,563

28,705

Small Business

2,069

2,074

2,077

2,076

Total Connectivity Customers

30,375

30,520

30,640

30,781

Residential

(140)

(117)

(95)

(53)

Small Business

(5)

(3)

(4)

Total Connectivity Quarterly Net Additions

(145)

(120)

(95)

(57)

Internet

Residential

27,358

27,524

27,641

27,868

Small Business

2,030

2,036

2,039

2,040

Total Internet Customers

29,388

29,560

29,680

29,908

Residential

(166)

(117)

(119)

(111)

Small Business

(6)

(3)

(5)

Total Internet Quarterly Net Additions

(172)

(120)

(119)

(116)

Mobile Lines (l)

Residential

12,099

11,714

11,370

10,502

Small Business

441

420

396

354

Total Mobile Lines

12,540

12,134

11,766

10,856

Residential

385

344

406

471

Small Business

21

24

22

20

Total Mobile Lines Quarterly Net Additions

406

368

428

491

Video (m)

Residential

12,010

12,021

12,072

12,087

Small Business

514

524

533

544

Total Video Customers

12,524

12,545

12,605

12,631

Residential

(11)

(51)

49

(73)

Small Business

(10)

(9)

(5)

(7)

Total Video Quarterly Net Additions

(21)

(60)

44

(80)

Voice

Residential

4,494

4,665

4,832

5,161

Small Business

1,200

1,207

1,214

1,225

Total Voice Customers

5,694

5,872

6,046

6,386

Mid-Market & Large Business (n)

Mid-Market & Large Business Primary Service Units (“PSUs”)

364

360

357

350

Mid-Market & Large Business Quarterly Net Additions

4

3

3

6

See footnotes on page 7.

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

 UNAUDITED CAPITAL EXPENDITURES

(dollars in millions) 

 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Customer premise equipment (o)

$          654

$          593

$        1,322

$        1,066

Scalable infrastructure (p)

336

371

646

664

Upgrade/rebuild (q)

657

457

1,332

852

Support capital (r)

494

425

884

785

Capital expenditures, excluding line extensions

2,141

1,846

4,184

3,367

Subsidized rural construction line extensions

390

543

816

1,010

Other line extensions

340

485

726

896

Total line extensions (s)

730

1,028

1,542

1,906

Total capital expenditures

$        2,871

$        2,874

$        5,726

$        5,273

Capital expenditures included in total related to:

Commercial services

$          293

$          324

$          579

$          597

Subsidized rural construction initiative (t)

$          391

$          545

$          818

$       1,013

Mobile

$            70

$            59

$          129

$          112

Transition (b)

$            34

$            —

$            37

$            —

See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 
 FOOTNOTES

(a)

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities.  Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

(b)

Transition represents incremental costs incurred to prepare for the integration of Cox Communications’ operations and to bring systems and processes into a uniform operating structure.

(c)

Other expense excludes stock compensation expense.  Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net.

(d)

We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies.  On that basis, at June 30, 2026, March 31, 2026, December 31, 2025 and June 30, 2025, customers included approximately 84,000, 87,600, 82,300 and 99,400 customers, respectively, whose accounts were over 60 days past due, approximately 10,100, 7,800, 9,700 and 11,600 customers, respectively, whose accounts were over 90 days past due and approximately 13,400, 13,600, 13,600 and 18,900 customers, respectively, whose accounts were over 120 days past due.     

(e)

Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small business and mid-market & large business sites passed by our cable distribution network in the areas where we offer the service indicated.  These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available. 

(f)

Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive.  Customers who reside in residential multiple dwelling units (“MDUs”) and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU.  Total customer relationships exclude mid-market & large business customer relationships.

(g)

Penetration represents residential and small business customers as a percentage of estimated passings. 

(h)

Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.

(i)

Monthly small business revenue per small business customer is calculated as total small business quarterly revenue divided by three divided by average small business customer relationships during the respective quarter.

(j)

One product, two product and three or more product penetration represents the number of residential customers that subscribe to one product, two products or three or more products, respectively, as a percentage of residential customer relationships.

(k)

Connectivity customers represent all customers receiving our Internet and/or mobile connectivity services.

(l)

Mobile lines include phones and tablets which require one of our standard rate plans (e.g., “Unlimited” or “By the Gig”).  Mobile lines exclude wearables and other devices that do not require standard phone rate plans.

(m)

Video customers only include customers that purchase Spectrum traditional or streaming linear video packages and exclude customers that only purchase streaming applications.

(n)

Mid-market & large business PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.

(o)

Customer premise equipment includes equipment and devices located at the customer’s premise used to deliver our Internet, video and voice services (e.g., modems, routers and set-top boxes), as well as installation costs.

(p)

Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers or provide service enhancements (e.g., headend equipment).

(q)

Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.

(r)

Support capital includes costs associated with the replacement or enhancement of non-network assets (e.g., back-office systems, non-network equipment, land and buildings, vehicles, tools and test equipment).

(s)

Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).

(t)

The subsidized rural construction initiative subcategory includes projects for which we are receiving subsidies from federal, state and local governments, excluding customer premise equipment and installation.

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SOURCE Charter Communications, Inc.

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