AnalytixInsight

Last week, Dow Jones fell 0.3%, S&P 500 was flattish, and Nasdaq composite gained 4%. Nvidia agreed to buy Hugging Face for US$12.9 billion (US$11.9 billion plus a US$1 billion retention pool), giving it the main distribution channel for open-source models. Disclosures show Nvidia now carries roughly US$230 billion of lease backstops and residual-value support, including US$105 billion on an OpenAI Ohio lease, on top of US$72.5 billion of equity stakes, making it “lender of last resort” to the AI buildout. Big Tech booked over US$160 billion of “other income” last quarter on AI stake gains, double the prior quarter’s ~US$69 billion, largely from SpaceX’s listing (post-xAI merger). Anthropic marks at Alphabet and Amazon drove record pre-tax profit. Broadcom revenue rose 86% to US$29.6 billion with AI chips up 221% to US$16.7 billion. The company guided AI revenue to US$115 billion in 2027 with a line of sight to US$230 billion in 2028 and EPS above US$30. Dell revenue rose 58% to US$47 billion, FY guidance up US$25 billion to US$192 billion on US$74 billion of AI servers. HPE raised guidance but fell on memory-led supply constraints. Snowflake product revenue grew 37% to US$1.49 billion and shares rose 20%. Palo Alto grew 34% with XSIAM ARR at US$700 million. Microsoft disclosed Azure revenue of US$101.9 billion, +40%. OpenAI shipped GPT-6 Astra at US$10/US$50 per million tokens, hinting at AGI. Its ad business now reportedly run-rates US$1 billion ARR versus projected US$2.4 billion. Oura filed to IPO on US$1.2 billion revenue (+74%) and US$262 million FCF. SB Energy, Moonshot (~US$50 billion) and Enflame also filed to go public. Shein debuted in its IPO flat at US$26 billion. FTC sued Amazon over ad auctions, while Google avoided an ad-tech breakup. In Sophic client news, Cybeats posted Q2 revenue of $815,769 (+9.5%), a narrowed $764,074 loss, $261,643 cash plus a $1.9 million placement. The Company also expanded a six-figure medical-device contract by 76% with its first RAVEN’s commercial rollout. The Company has 8 active POCs. Hybrid Power Solutions filed a patent on an AI-driven hybrid energy management system.

Last week, both Dow Jones, and S&P showed modest gains of ~0.5%, NSADAQ was up ~0.85%, Thursday’s bullish action was set back by a hawkish speech from Fed Chair Kevin Warsh. Nvidia’s July-quarter revenue rose 106% to US$96.2 billion, with guidance of 89.5% growth this quarter and roughly 70% for the year ending January 2028 on supply constraints. Free cash flow fell more than 50% to US$21 billion as receivables rose ~50% on extended terms to investment-grade customers. Nvidia stock rose 5% after hours. Nvidia also agreed to buy Hugging Face for US$12.9 billion, roughly 80x forward revenue, and is in talks to invest in Perplexity above US$30 billion, whose annualized revenue has climbed to US$750 million from under US$250 million in January. Anthropic’s annualized revenue reached US$65 billion in July from US$47 billion in May, but spending on Fable 5 has plateaued near 11% of customer outlay ahead of an IPO. OpenAI says its Jalapeño inference chip beats Nvidia’s Blackwell. Separately, ~1,200 internal OpenAI agents reportedly self-organized and ~700 joined the Hugging Face attack, which OpenAI called a “warning shot.” Marvell lifted FY guidance to US$12 billion and FY2028 to US$18 billion on 46% data center growth. CrowdStrike rose 11% on recent financial results. Salesforce rose 13% with Agentforce ARR at US$1.5 billion, up 240%. Alibaba is raising US$10.2 billion for AI. Oura is targeting a September IPO above US$16 billion. Meta settled child-harm claims for up to US$18 billion. In Canada, MDA Space launched LaunchPad Ventures. In Sophic client news, Kraken reported Q2 revenue of $27.3 million and $5.0 million adjusted EBITDA with 2026 orders at $355 million and guidance unchanged. Replenish reported Q2 results, which were directionally important in highlighting progress in the previously announced transition from blended fertilizer to the commercial scale ramp-up in granulated and pellet fertilizer. Ionik reported US$47.4 million revenue and US$8.4 million adjusted EBITDA post-refinancing. Renoworks grew recurring revenue 38%. Legend Power narrowed its net loss 37% on 12 SmartGATE orders.

Last week, Dow Jones fell 0.85%, S&P 500 lost 1.4%, Nasdaq composite was down 2.05%. Next week investors can expect Fed Chair Kevin Warsh’s first Jackson Hole speech, and Nvidia earnings. Anthropic expects its IPO to match or exceed SpaceX’s record listing and could file publicly as soon as month-end. The company raised US$65 billion in May at a US$965 billion valuation, ahead of OpenAI’s US$852 billion. Preliminary Q2 revenue topped US$11.5 billion against US$787 million a year earlier, with run-rate reaching US$65 billion by end-July and positive adjusted operating income, versus a 2025 net loss of nearly US$42 billion. OpenAI’s Q2 revenue grew 18% sequentially to US$6.7 billion. Nvidia, OpenAI and SB Energy confirmed the PORTS-Pike campus in Pike County, Ohio with 10GW of new energy, 8 IT-GW leased by OpenAI for 20 years, Nvidia credit support capped at US$105 billion via residual-value guaranties, plus a US$1.5 billion Nvidia investment in SB Energy. Jensen Huang pegged US$150 to 200 billion of Nvidia revenue per hardware generation and roughly US$600 billion of OpenAI compute commitments through 2030. Marvell granted Google rights to 58.97 million shares at US$206.58, or US$12.2 billion, alongside an expanded TPU partnership. Marvell stock rose 9.9%, and Broadcom fell 4.6%. Stripe is acquiring OpenRouter for a reported US$7.5 billion, versus a US$1.3 billion valuation in May. Unitree closed up 460% on its Shanghai public debut at just over US$60 billion after a US$905 million IPO. Alibaba guided AI ARR to US$10 billion this quarter from US$7.3 billion, with capex up 75% to nearly US$10 billion while China e-commerce fell 8%. Its 27-billion-parameter Qwen3.8-27B passed 1 million downloads and matched GPT-5.6 Luna on the Artificial Analysis index. Klarna fell 20% on a cut full-year outlook; Walmart fell 9% on 2.6% U.S. comps. In Canada, Helcim raised a $53 million Series C led by BDC at a $250 million valuation, up from $97 million, on $150 million ARR. In news pertaining to Sophic clients, Replenish Nutrients closed a $7.5 million convertible debenture from SRC Agrominerals, completing SRC’s $15 million strategic investment. Intermap appointed former U.S. Senior Foreign Service officer John T. McNamara to the Intermap Federal Services Board of Advisors, supporting its U.S. federal and allied-nation expansion.

Last week, Dow Jones fell 0.6%, S&P 500 index rose 0.4%, Nasdaq composite was up ~0.1%. Anthropic’s investors expect an October listing at a >US$2 trillion valuation, which would be the largest IPO ever. The valuation could be underpinned by annualized revenue of US$100–120 billion by year-end, up more than 10x in 2026, high growth AI comparables Palantir and Nebius have traded near 55x revenue. Intel is raising US$15 billion in stock after a 175% twelve-month run. Nvidia signed a preliminary US$500 billion AI infrastructure financing agreement with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, retaining an option to backstop up to 25% of any project. Nvidia will also invest US$2 billion for roughly 20% of Stargate power developer Lancium at a US$10 billion enterprise value, extendable to US$3 billion and ~30%. SK Hynix approved 54 trillion won (US$38 billion) for two new fabs. Nebius revenue rose 454% to US$582 million. CoreWeave revenue doubled to US$2.575 billion. Cisco stock fell 5% despite 18% revenue growth to US$17.3 billion and US$4 billion of AI orders in the quarter alone. Cerebras fell 16% as hardware revenue halved to US$54 million. Workday rose 18% on Silver Lake takeover talks. Kalshi passed US$4 billion annualized revenue and is in talks at a US$40 billion valuation. Gemini reached 1 billion monthly users. Meta will open-weight Muse Spark 1.2. OpenAI paused Astra over cyber capabilities. Z.ai claims GLM-5.3 matches Mythos 5 on security tasks. In Canada, RBC and BMO are selling Moneris to Francisco Partners for $2 billion. Xanadu partnered with the University of Alberta on quantum-designed photosensitizers. In news pertaining to Sophic clients, Legend Power Systems won a GSA Multiple Award Schedule contract placing SmartGATE Gen 3 under SIN 334512, opening federal plus state and local buyers via Cooperative Purchasing. Intermap reported Q2 revenue of US$2.0 million and negative US$1.4 million adjusted EBITDA. Earnings call commentary provided some good color on highly anticipated Indonesian follow-on awards and the recent PCI acquisition. Intermap also strengthened its Board of Directors.