Weekly Investment News and Analysis

Last week, Dow Jones fell 0.2%, S&P 500 was up 0.1%, and Nasdaq composite lost 0.1%, following new all-time highs on both the latter indices Thursday. Cerebras surged 68% in its IPO debut to a US$56 billion valuation. Geothermal pioneer Fervo Energy raised nearly US$2 billion, pushing its valuation past US$10 billion. SpaceX fast-tracked its Nasdaq listing for mid-June. Anthropic lined up a US$30 billion funding round at a US$900 billion valuation. Anduril raised US$5 billion at a US$61 billion valuation. European rival Helsing is targeting a US$18 billion valuation. eBay rejected Ryan Cohen’s US$56 billion buyout offer. Microsoft projected spending over US$100 billion on OpenAI agreements. SoftBank’s Vision Fund saw a US$46 billion yearly gain driven by OpenAI’s success. OpenAI launched a US$10 billion private equity joint venture. Neocloud provider, Nebius, reported a 684% Q1 revenue surge. Cisco shares jumped 18% on robust AI networking orders. Bill Ackman built a US$2 billion Microsoft stake based on latest 13F filings, Google is exploring launching orbital data centers via SpaceX. Anthropic’s Mythos AI showed advanced hacking capabilities in UK security trials. Thrive Capital placed a US$100 million bet on Shopify, whose shares remain down nearly 40% this year. The quantum sector expanded as Photonic closed a $200 million round at a US$2 billion valuation, and Nord Quantique secured unicorn status at US$1.4 billion. UniUni neared a US$1 billion SPAC debut on the TSX, while Prime Minister Carney unveiled a National Electricity Strategy to double grid capacity by 2050. In news pertaining to Sophic clients, Intermap reported Q1 2026 results with over 80% recurring revenue driven by its AI Risk Assistant, reiterating full-year guidance of $30-35 million. Hybrid Power Solutions announced a $1.5 million private placement, and its largest-ever $1.5 million industrial order. Juno Industries’ Chairman and co-founder, Harjit Sajjan was recently on a Betakit podcast to talk about the company’s plans to be an innovation hub for defence: building, partnering, or buying technology based upon government needs.

Last week, Dow Jones Industrial gained 0.2%, S&P 500 rose 2.2%, Nasdaq composite was up 4.5%. S&P 500 and Nasdaq have now risen for six consecutive weeks, and Nasdaq’s ~25% six week gain is the best six week gain since April 2009. Lime and geothermal startup Fervo Energy both filed for IPOs, with Fervo targeting a US$6.5 billion valuation. GameStop launched a US$56 billion bid for eBay. Cisco moved to acquire agent-security startup Astrix. Samsung joined the US$1 trillion market club, fueled by a record operating profit surge and potential foundry talks with Apple. Anthropic pledged a US$200 billion spend with Google Cloud over five years, and secured 100% of the compute from xAI’s Colossus data center. CoreWeave highlighted AI demand with a US$100 billion revenue backlog. However, its stock was down 9% on rising Capex. OpenAI is reportedly moving towards hardware, fast-tracking an AI-native smartphone for H1 2027 to rival Apple. The AI trade continues to diverge software stocks. TCI slashed its Microsoft stake by 90%, citing concerns over AI’s potential to disrupt the Office ecosystem. Datadog and AMD were up 30% and 16% respectively, as investors rewarded accelerating AI-driven sales and a doubling of the data center CPU TAM. In Canada, Shopify fell 9% on a projected Q2 revenue slowdown, as rising AI infrastructure costs began to offset software efficiency gains. In news pertaining to Sophic clients, Hybrid Power Solutions secured an inaugural $80,000 order from the NYC MTA and a follow-on from Canada’s largest transit commission, supporting a $12.5 million industrial pipeline. Kraken Robotics signed an MOU with SEFINE SISAM to integrate its KATFISH technology into Turkish maritime security operations. 01 Quantum received a USPTO Notice of Allowance for its Quantum AI Wrapper (QAW), solidifying its defensible position in encrypted AI computation.

Last week, Dow Jones rose 0.55%, S&P 500 gained 0.9%, Nasdaq composite was up 1.1%. Google came out on top after a big earnings week, which raised hyperscalers’ capex plans in the AI ecosystem. Alphabet and AWS reported revenue jumps of 22% and 28% respectively. Apple’s iPhone rebound continued with 22% growth. Meanwhile, Meta and Microsoft signaled aggressive AI infrastructure investment. Atlassian shares rose nearly 25% as AI search boosted product sales, sparking commentary that it could be time to re-enter software stocks after SaaSpocalypse. Anthropic is reportedly seeing investor interest at a US$900 billion valuation, supported by a US$20 billion convertible financing from Amazon. OpenAI reportedly missed internal Q1/26 goals but is maintaining its US$30 billion revenue target for 2026. SpaceX is targeting a mid-June IPO at a US$1 trillion valuation. S&P 500 is considering easing index entry rules for newly listed mega-cap stocks, following in Nasdaq’s footsteps. GameStop is reportedly preparing a bid for eBay. Chinese regulators blocked Meta’s US$2 billion acquisition of AI agent startup Manus. In Canada, the federal government has been selected to headquarter the new multinational Defence, Security and Resilience Bank (DSRB). B.C.-based General Fusion announced plans to go public on the Nasdaq via a US$1 billion SPAC merger. In news pertaining to Sophic clients, Juno Industries completed an oversubscribed $12 million financing to support its platform of defence solutions. Cybeats reported 2025 revenue growth of 49% y/y, and is targeting US$5 million in ARR by Q2 2026. Replenish Nutrients Q4 results highlighted the company’s transition to high-margin commercialization at its Beiseker facility while advancing licensing deals in the U.S. and Alberta. Ionik reported record fiscal 2025 revenue of US$195.3 million and US$34.8 million in Adjusted EBITDA. Hybrid Power Solutions reported a 75% sequential revenue increase and a $12.5 million sales pipeline. and 01 Quantum elected post-quantum cryptography expert Dr. Edoardo Persichetti to its board.

After a geopolitical driven mid-week pause, markets closed decisively higher. Dow Jones lost 0.4% last week, S&P 500 gained 0.55%, Nasdaq composite was up 1.5%. Nasdaq and S&P 500 hit fresh highs Friday, aided by chip stocks. Multiple hyper scalers and AI related companies are expected to report earnings next week, amidst ongoing geopolitical volatility. Google and Amazon committed a combined US$65 billion in new funding and compute capacity to Anthropic, which is now seeing investor interest at a US$800 billion valuation. OpenAI is forming a US$10 billion joint venture, called DeployCo, to drive enterprise adoption. SpaceX is reportedly preparing for its June IPO, and also potentially acquiring AI coding startup Cursor for US$60 billion. Cursor’s annualized revenue recently hit US$2.7 billion. Nuclear startup, X-energy went public, raising US$1 billion in its IPO. Intel shares soared 20% on strong data center growth. Revolut is targeting a US$200 billion valuation for its eventual IPO. Tesla reported a 16% revenue increase to US$22.4 billion, as it pivots to its Robotaxi service. ServiceNow shares fell despite 22% growth due to Armis acquisition “headwinds,”. Adobe announced a US$25 billion buyback. In Canada, Cohere and Germany’s Aleph Alpha agreed to a US$20 billion transatlantic merger. In news pertaining to Sophic clients, Kraken Robotics’ CEO was interviewed by BNN Bloomberg, highlighting the company’s position in the new underwater arms race. Rivemont Portfolio Manager, Mathieu Martin, highlighted his funds’ his 50+ bagger investment journey with Kraken Robotics on the “In the Money” podcast. Replenish Nutrients expanded its credit facilities to $5.45 million to scale its Beiseker facility and tackle global phosphate gaps. 01 Quantum recently demonstrated its quantum-safe solutions at its Toronto AGM and also provided investors a business overview at an investor conference. Hybrid Power Solutions partnered with Movex Innovation to deliver NATO-compliant mobile power units. Renoworks Software reported FY2025 revenue of $7.7 million, with licensing revenue jumping 33% as it transitions to an AI-driven platform.

Last week, Dow Jones rose 3.2%, S&P 500 gained 4.5%, and Nasdaq composite was up 6.8%. S&P 500, and Nasdaq hit record highs. The Nasdaq’s 13 day advance was its longest win streak since 1992. TSMC raised its full-year revenue growth forecast to over 30%, reporting US$18 billion in quarterly net income. That said, the semiconductor sector remains sensitive to regulatory friction. ASML shares fell 6% despite raised 2026 guidance, as investors weighed the impact of tightening DUV export restrictions to China. In private markets, demand for AI assets has pushed Anthropic’s speculated valuation toward US$800 billion, as revenue run-rate tripled to US$30 billion since late last year. Cerebras is reportedly entering the public arena with a US$35 billion IPO valuation. The company also signed a US$20 billion compute deal with OpenAI. Amazon is making a strategic US$11 billion move to acquire Globalstar, which could position its LEO satellite network to challenge Starlink’s direct-to-cell dominance by 2027. Meta is projected to surpass Alphabet as the world’s largest ad player this year, reaching US$243 billion in net revenue. This shift is being fueled by AI-driven recommendation improvements in Reels. Allbirds announced plans to abandon footwear for AI chip services, rebranding as NewBird AI. In news pertaining to Sophic clients, Kraken Robotics delivered record 2025 results with $102.2 million in revenue. 01 Quantum is set to demonstrate its IronCAP-based “Quantum AI Wrapper” on April 22, targeting the intersection of FHE and post-quantum cryptography. Replenish Nutrients secured $250,000 in non-dilutive Sustainable CAP funding to accelerate the commercial scale-up of its Beiseker facility.

Despite a very unpredictable news environment, markets had a good week especially in AI related names. Last week, Dow Jones rose 3%, S&P 500 gained 3.6%, Nasdaq composite was up 4.7% U.S. venture fundraising showed signs of a rebound in Q1 2026, reaching US$47.8 billion, though capital remains concentrated in a few mega-firms. Anthropic reportedthat annualized revenue surged to US$30 billion, a 58% increase since February, while its valuation reached US$350 billion. Anthropic recently completed a share tender offer, but employees sold fewer shares then expected, signaling an expectation of future valuation increases. Anthropic announced on Tuesday that it will be providing access to its unreleased Claude Mythos model to more than 40 organizations, including Apple, JPMorgan Chase and the Linux Foundation, so they can test their software for security vulnerabilities. Federal Reserve Chair Powell and Treasury Secretary Bessent summoned leaders of major U.S. banks, to discuss the cybersecurity risks from Claude Mythos, sending software stocks lower in the week. OpenAI CFO Sarah Friar expressed some concerns over the company’s 2026 IPO readiness. Concerns are also mounting that a massive US$75 billion SpaceX listing could “suck the oxygen” out of the 2026 IPO market. In Canada, Blackline Safety entered a definitive agreement to be acquired by Francisco Partners for up to $850 million ($9.00–$9.50 per share), representing a significant premium. Stack Capital closed an upsized $31.25 million private placement, totaling $40 million in gross proceeds. In news pertaining to Sophic clients, Kraken Robotics successfully demonstrated its KATFISH autonomous launch and recovery system. Replenish Nutrients appointed Steven Glover, FCPA, as Special Advisor and Director nominee, adding significant governance and audit expertise as the company transitions toward high-margin granulation. Sophic Capital believes Cybeats could be positioned to benefit from the “AI Paradox”, as the company provides the essential SBOM management layer required to handle the resulting high volume of recent AI discovered 0-day vulnerabilities.

Last week, Dow Jones gained ~3%, S&P 500 rose 3.4%, Nasdaq composite was up ~4.4%. These improvements follow major indices’ five-week losing streaks amid major ongoing geopolitical risks. During the brief futures trading window on Friday, Dow Jones was down 0.2% vs. fair value, S&P 500 futures were down 0.3% and Nasdaq 100 futures fell 0.4%. OpenAI raised a massive US$122 billion funding round at an US$830 billion valuation, with major commitments from Amazon, SoftBank, and Nvidia. SpaceX filed confidentially for its June IPO, aiming to raise US$75 billion at a valuation exceeding US$1.25 trillion. Nasdaq is already shortening index entry rules to accommodate this and potentially other large listings. CoreWeave raised US$8.5 billion in a GPU-backed debt deal. Nvidia invested US$2 billion in Marvell. Amazon is reportedly in talks to acquire Globalstar for over US$10 billion to bolster its satellite efforts. Oracle is laying off thousands of employees to offset heavy data center spending. Allbirds agreed to a US$39 million fire sale. Activist investor Irenic Capital called for a restructuring at Snap, citing a potential value of US$26 per share. In Canada, Repay is acquiring Mississauga-based Kubra for US$372 million. NGen announced an $80 million envelope for AI adoption in manufacturing. ThinkLabs secured US$28 million to modernize power grids. In news pertaining to Sophic clients, Juno Industries upsized its financing to $10 million. Replenish Nutrients closed an oversubscribed $4.8 million private placement. Boardwalktech closed the first tranche of nearly $400K of its private placement. Intermap reported 2025 results with US$22.5 million in cash and confirmed it has been down-selected for Indonesia’s US$200 million ILASP project, leading to a positive reaction in the stock. Sophic clients, Juno Industries, Kraken Robotics, and Cybeats presented their stories to investors at the CG Defense Technology Conference held in Toronto last week.

Last week, Dow Jones fell 0.9%, S&P 500 lost 2.1%, Nasdaq composite was down 3.2%. SpaceX could be preparing a record-breaking IPO filing to raise over US$75 billion, at a US$1.25 trillion valuation. Anthropic is considering a Q4 IPO at a US$60 billion valuation, while readying its high-performance “Claude Mythos” model. OpenAI is nearing a US$10 billion raise at a US$120 billion valuation, bolstered by surpassing US$100 million in annualized revenue from its new ads pilot. Salesforce and HubSpot shares fell after reports that AWS is automating sales functions with AI. Meta established audacious executive incentives tied to a US$9 trillion market cap goal. Amazon acquired Fauna Robotics. China’s Unitree filed for a US$610 million IPO. Google accelerated its “Q Day” deadline to 2029, urging a faster transition to post-quantum cryptography. Meta and OpenAI committed to Arm’s first AI server chip to reduce dependence on Nvidia. SK Hynix pledged US$8 billion for advanced ASML gear. A jury found Meta and YouTube liable for social media addiction in a landmark “bellwether” case. U.S. senators proposed a ban on sports betting within prediction markets, targeting platforms like Kalshi. The EV sector saw a major setback as Sony and Honda canceled their “Afeela” joint venture. Xanadu gained 15% in its TSX and Nasdaq debut, marking the first pure-play photonic quantum IPO. In other Canadian news, Sophic client Juno Industries, a “neo-prime” defense startup, chaired by former Canadian defense minister, Harjit Sajjan, is raising US$7 million, and going public. The company also launched “Polar Nexus” for Arctic surveillance. Sophic client, Hybrid Power Solutions secured a $200K repeat order for its Spark Cube system from a major Canadian transit commission. Sophic Client, Boardwalktech announced a $1.5 million private placement.

Last week, Dow Jones, S&P 500 and Nasdaq composite all fell ~2%. US 10-year Treasury yield rose 11 bps 4.39%, for its highest close since last July, yields have risen globally. Markets now expect a modest chance of a rate hike in 2026, despite Fed signals. On the back of its GTC event, Nvidia dominated tech headlines, CEO Jensen Huang projected US$1 trillion in revenue from Blackwell and Rubin AI chips through 2027. This bullish outlook aligns with massive infrastructure spends, including Meta’s US$27 billion deal with Nebius Group for AI data centers. Nvidia unveiled NemoClaw agent software and a Groq-based chip system, while also restarting H200 manufacturing for the China market despite ongoing regulatory friction. Jeff Bezos is reportedly raising a US$100 billion fund for AI-driven manufacturing, and his space firm Blue Origin filed for a 51,600-satellite constellation for orbital AI compute. Prediction market Kalshi is raising US$1 billion at a US$22 billion valuation. Uber committed US$1.25 billion to Rivian for a future robotaxi fleet. Mastercard will acquire stablecoin startup BVNK for US$1.8 billion. The “AI hangover” continues to impact traditional software. Intuit leadership canceled stock sales and accelerated US$3.5 billion in buybacks. JPMorgan halted a US$5.3 billion debt deal for Qualtrics. A jury found Elon Musk liable for misleading Twitter investors. The DOJ charged Supermicro employees with smuggling US$2.5 billion in AI servers to China. In Canada, the federal government committed $225 million to advance sovereign space launch, headlined by a $200 million lease at Maritime Launch Services’ Nova Scotia spaceport. Calgary-based CoolIT Systems will be acquired by Ecolab for US$4.75 billion. In news pertaining to Sophic clients, Kraken Robotics announced $24 million in new defense orders across five countries. Cybeats Technologies secured its first automotive contract for its SBOM Studio. Boardwalktech signed a new Silicon Valley semiconductor client and expanded its AI-driven Unity Central platform with an international chemical firm.

Last week, Dow Jones lost 2%, S&P 500 was down 1.6%, Nasdaq composite fell 1.3%, the third consecutive down week for major indices. Increased volatility could impact potential 2026 IO plans. While OpenAI is likely at least six months away from going public, and possibly longer, it could face a skeptical investor community. A potential 2026 IPO at a rich ~30x projected 2026 revenue, despite forecasts of negative cash flow until 2030, could give some investors pause. Several large IPOs could also divert liquidity from other areas of the market in the event of a listing. SoftBank is fueling its AI ambitions by seeking US$40 billion in debt, following the successful US$12 billion market cap debut of portco PayPay. Amazon tapped the bond market for US$37 billion to support its staggering US$200 billion annual capex plan. Nvidia injected US$2 billion into Nebius Group to scale AI cloud infrastructure. The shift toward AI efficiency continues to drive a painful reset elsewhere. Meta is reportedly weighing 20% staff cuts. Atlassian announced a 10% reduction to prioritize AI investment. Strategic M&A remains active with Anduril’s acquisition of ExoAnalytic and Zendesk’s purchase of Forethought. Regulatory friction is surfacing in other areas, Anthropic claims the DoD’s “supply chain risk” designation has already cost it over US$100 million in revenue. The legacy auto sector continues to struggle with the energy transition, as Honda took a massive US$15.7 billion hit amid a retreat from its North American EV strategy. In Canada, Sophic Client, Kraken Robotics closed its $402.5 million offering to fund its $615 million acquisition of Covelya Group. MDA Space priced its US$300 million IPO at US$30.50 and debuted on the NYSE. The Canadian federal government continues its massive push. BDC expanded its Defence Platform to $6 billion. The NRC secured $900 million for a new drone innovation hub. Xanadu is negotiating up to $390 million in government support as it prepares for a US$3.6 billion SPAC deal.

Last week, Dow Jones fell 3%, S&P 500 lost 2%, Nasdaq composite declined 1.2%. Nvidia is doubling down on infrastructure, investing US$4 billion into photonics leaders Lumentum and Coherent, while simultaneously licensing Groq’s technology for a new inference-specific chip. This shift was mirrored at Broadcom, where AI chip revenue surged 140% to US$10.7 billion, lifting overall growth to 47% despite sluggishness in non-AI segments. OpenAI could be officially prepping for a historic IPO, anchored by a US$730 billion pre-money valuation and a US$30 billion investment from Nvidia. SoftBank is betting the farm to stay relevant, seeking a record US$40 billion bridge loan to fund its own OpenAI ambitions. Meanwhile, a strategic pivot in OpenAI’s commerce strategy, moving from direct in-chat sales to app-based checkouts led to a relief rally for Booking.com and Expedia, which jumped 8.5% and 13% respectively. Anduril is targeting a US$60 billion valuation (roughly 14x 2026 sales), despite forecasting a US$1.2 billion operating loss this year. The Pentagon officially designated Anthropic a “supply chain risk.” Ironically, this spat propelled Claude to the #1 spot on the U.S. App Store. In Canada, Sophic client Kraken Robotics executed a massive growth move, acquiring Covelya Group for $615 million. The combined entity will have pro forma revenue of $365 million and 24% EBITDA margins. Canadian Defense startup, Dominion Dynamics committed $50 million to build a an “autonomous wingman.”

Last week, Dow Jones fell 1.3%, S&P 500 lost 0.4%, Nasdaq was down 0.95%, the weekend’s geopolitical developments could increase volatility next week. The market continues to grapple with the “AI as a headwind” thesis, as traditional software giants faced a reckoning. Salesforce and Snowflake stocks lost 5% and 2% respectively on decelerating growth forecasts. The most dramatic move was IBM’s 13% tumble following Anthropic’s claim that Claude Code can automate the modernization of 65 year old COBOL systems, direct strike at IBM’s high-margin mainframe services moat. Block co-founder Jack Dorsey said the company plans to lay off 40% of its staff as it believes AI tools can help a smaller workforce “do more and do it better.” Nvidia delivered stellar results, yet again including 73% revenue growth to US$68.1 billion. The company is doubling down on its ecosystem, joining Amazon and SoftBank in a massive US$110 billion funding round for OpenAI, which now equates to a US$730 billion pre-money valuation. Meta is diversifying its silicon supply, striking a 6-gigawatt compute deal with AMD that includes warrants for a 10% equity stake, signaling a shift toward co-designed, proprietary infrastructure. CoreWeave is seeking US$8.5 billion in new debt, but for the first time, it’s seeking a credit rating to appease wary lenders. Stripe is reportedly exploring a massive acquisition of PayPal. Netflix walked away from Warner Bros. Discovery, labeling the Paramount-Skydance bid “superior” and the financial math no longer attractive. In Canada, Sophic client, Cybeats Technologies secured a landmark OEM partnership with Keysight Technologies to operationalize SBOM management for safety-critical environments. CPPIB anchored a US$4 billion deal for Nordic data center operator atNorth. The Canadian federal government’s RDII initiative deployed its first $15 million into Ontario-based defense tech like Wolf Advanced Technology.