GDP explodes 11%. Huckabee calls it a miracle. Nebius national supercomputer. Elbit smashes âŞ100B. đ
This is your TV10 Weekly Edition, curated from the Hebrew coverage on Israel's only business and finance channel.
Editorâs note:
Disaster sociologists call it Normalcy Bias, the human tendency to freeze in a crisis, irrationally clinging to the status quo. In Israel, weâre witnessing the inverse of this phenomemon.
Three signals converged this week. Q3 GDP data showed 11% growth driven not by stimulus, but by private citizens betting aggressively on the future. Governor Amir Yaron confirmed to TV10 from Davos that global sentiment is shifting. And US Ambassador Mike Huckabee called this resilience a âmiracle,â in an exclusive interview with Roy Katz on TV10.But miracles arenât a strategy. The challenge is distinguishing a fleeting bounce from a true trend change. The breakdown of fixed asset investment offers a clue: companies arenât merely reacting to pent-up demand, they may be building capacity for a post-war reality.
â Sophia Tupolev, TV10 Global Editor
TASE weekly snapshot
The Tel Aviv Stock Exchange closed the week mixed.
TA-35 Index (TASE:TA35): đ˘ +0.37%
TA-90 (TASE:TA90): đ´ -0.68%
TA-125 (TASE:TA125): đ˘ +0.53%
While Banks (TASE:TA-Banks5) dragged the index down this week (-2.02%), the Insurance index (TASE:TA-INSURANCE) (+4.24%) picked up the slack.
Macro & Geopolitics
Israelâs economy grew 11.1% annualized in Q3, rebounding from Q2âs contraction.
Revenge Spending? Private consumption jumped 21.4%. Consumers pivoted from hoarding cash to releasing pent-up demand.
Capex as a leading indicator. Fixed asset investment surged 34.5%. Businesses are importing machinery and restarting construction.
Private vs. public - Business GDP (+13.2%) outpaced public consumption (+4.5%), indicating a private-sector-led recovery.
Our take - when businesses increase capex by ~35% during a war, theyâre engaging in massive country-risk arbitrage, betting that security is temporary, but demand for Israeli innovation is permanent.
In an exclusive interview, US Ambassador Mike Huckabee told TV10âs Roy Katz that âeconomic activity is at the heartâ of the normalization process, explicitly linking the Abraham Accords to economic incentives. On the war, Israelâs ability to grow GDP while fighting on multiple fronts is a âmiracle.â He also defended Trumpâs tariff threats as a negotiation tactic to enforce âfair trade,â suggesting that a finalized trade deal could see tariffs vanish entirely.
Policy
Bank of Israel Governor Amir Yaron, speaking with TV10âs Eran Bar Tal in Davos, noted a âdistinct improvementâ in global sentiment toward Israel. But he issued a warning: âA continuing budget will make it very difficult to realize economic activity. It is crucial that the budget passes.â
Tech
The government is stepping in to solve the compute bottleneck. The Israel Innovation Authority launched a national supercomputer (built by Nebius, (NASDAQ:NBIS) to prevent AI startups from migrating to the US for compute power. 1,000 Nvidia B200 GPUs at subsidized rates, 70% to industry, 30% to academia. Access to H100s/B200s is the biggest barrier to entry for AI foundation models.
Claroty announced a $150M Series F led by Golub Growth, with their valuation up 80% since March 2024. Having signed 24 new Fortune 500 clients this year, theyâre proving industrial giants will pay a premium to secure operational technology against kinetic cyber threats.
Mobileye (NASDAQ:MBLY) reported mixed results yesterday. While annual revenue for 2025 grew 15% to $1.9 billion, Q4 revenue dropped 9% to $446 million.. Despite generating a healthy $602 million in operating cash flow for the year, the guidance for 2026 suggests stagnation, with revenue projected between $1.9B - $1.98B (flat to 5% growth).
Defense
Elbit Systems (TASE:ESLT) is doubling down on Europe. The defense giant announced today it has completed the full acquisition of UK-based UAV Tactical Systems (U-TACS), purchasing the remaining shares to turn the former joint venture into a wholly-owned subsidiary. The move cements the UK as its primary manufacturing hub for NATO drone exports. Elbitâs stock has surged ~22% since January, smashing through a âŞ100B market cap.
Next Vision (TASE:NXSN) booked another $20 million order today. This brings the companyâs year-to-date deal total to a $107 million in just three weeks, underpinning its $275 million revenue target for 2026.
Aryt Industries (TASE:ARYT) is also joining the European rearmament wave. Its subsidiary, Reshef Technologies, signed a strategic 5-year agreement with a Western European defense contractor to manufacture and market fuzes for NATO forces. This marks Arytâs first significant foothold in the European market, further validating the trend of Israeli defense tech becoming embedded in NATO's supply chain.
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The English TV10 newsletter is edited by Sophia Tupolev. We love to hear from you.
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Disclaimer: This brief is for informational purposes only and does not constitute investment advice. All data is current as of publication date.