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.
