Consumer Tech (Aug 31-Sep 4): NVIDIA Buys World’s Largest Open AI Developer, Trump Claims Total Control On Hormuz & More

by | Sep 6, 2026 | General

Chinese President Xi Jinping is reportedly preparing to lead a large delegation of business executives on his forthcoming visit to Washington.

Norway has reached a 96% to 98% market share for electric vehicles, becoming the global leader in the transition from internal combustion engine vehicles to EVs.

Air Products and Chemicals Inc. (NYSE:APD), Axcelis Technologies Inc. (NASDAQ:ACLS), Corning Inc. (NYSE:GLW) and Pacifico Energy filed investment reports totaling $2 billion for projects in South Korea’s semiconductor, advanced materials, and clean energy sectors, the country’s Ministry of Trade, Industry and Energy.

Commerce Secretary Howard Lutnick stated that the Trump administration has rebuilt its trust with AI firm Anthropic, following a period of strained relations,  primarily centered around national security and AI safeguards. 

President Donald Trump recently claimed the U.S. has “total control” over the Strait of Hormuz, but shipping data suggests commercial traffic through the waterway remains severely constrained.

The White House reportedly privately discouraged Space Exploration Technologies Corp. (NASDAQ:SPCX) and other U.S. space companies from attending Emmanuel Macron’s Space Summit in Paris, warning that participation could be seen as tacit support for European Union policy positions.

Earnings Results

  • Ambarella Inc. (NASDAQ:AMBA) reported quarterly adjusted earnings of 18 cents per share, which beat the Street estimate of 17 cents. Quarterly revenue came in at $108.13 million, which beat the $107.75 million consensus estimate.
  • Asana Inc (NYSE:ASAN) reported second-quarter revenue of $216.43 million, beating analyst estimates of $214.12 million. The company reported adjusted earnings of 10 cents per share, beating estimates of nine cents per share.
  • Samsara Inc. (NYSE:IOT) reported quarterly earnings of 20 cents per share, which beat the Street estimate of 16 cents by 25%. Quarterly revenue came in at $508.44 million, beating the analyst estimate of $483.26 million.
  • Docusign Inc (NASDAQ:DOCU) posted second-quarter revenue of $875.75 million, beating the consensus estimate of $857.43 million. Adjusted earnings of $1.16, beat the estimates of $1.09 per share.
  • UiPath, Inc. (NYSE:PATH) reported quarterly earnings of 15 cents per share, in line with the consensus estimate. Revenue came in at $410.26 million, which beat the Street estimate of $397.95 million.
  • Planet Labs (NYSE:PATH) reported quarterly losses of three cents per share, which missed the consensus estimate for losses of two cents. Revenue came in at $116.05 million, which beat the Street estimate of $104.12 million.
  • Dell Technologies Inc. (NYSE: DELL) posted a blowout second quarter fueled by soaring demand for artificial intelligence infrastructure, and Chief Operating Officer Jeff Clarke said it’s been a nonstop hunt for parts across nearly every part of the supply chain.
  • Salesforce, Inc. (NYSE:CRM) posted second-quarter revenue of $11.35 billion, above the $11.32 billion consensus estimate. Adjusted earnings came in at $5.90 per share, versus estimates of $3.27 per share. Revenue rose 11% year-over-year, and total remaining performance obligations reached $66.5 billion, also up 11% year-over-year.
  • NetApp, Inc. (NASDAQ:NTAP) The company reported fiscal 2027 first-quarter adjusted earnings of $2.58 per share, up 66% year over year. That beat the consensus estimate of $2.12. Revenue rose 30% to $2.03 billion, topping the $1.84 billion Street estimate. 
  • Ciena Corp. (NYSE:CIEN) reported sharply higher revenue and earnings for its fiscal third quarter of 2026, fueled by strong demand for optical networking products and significant operating leverage.
  • Broadcom Inc. (NASDAQ:AVGO) reported revenue of $29.6 billion, up 86% year over year, against consensus of $29.36 billion. Adjusted earnings of $3.32 per share, against $3.24 expected.
  • Hewlett Packard Enterprise (NYSE:HPE) stock fell in premarket trading on Thursday after the company reported fiscal third-quarter results that topped Wall Street expectations and raised its full-year outlook.
  • Snowflake Inc. (NYSE:SNOW) reported second-quarter revenue of $1.55 billion, beating analyst estimates of $1.48 billion, according to Benzinga Pro, while adjusted earnings came in at 62 cents per share for the quarter, beating estimates of 45 cents per share.
  • Credo Technology (NASDAQ:CRDO) reported fiscal 2027 first-quarter revenue of $479 million, beating the $471.77 million estimate. Adjusted earnings of $1.20 per share topped the $1.17 estimate.
  • C3.ai, Inc. (NYSE:AI) reported quarterly losses of 20 cents per share, which beat the Street estimate for losses of 25 cents. Quarterly revenue came in at $52.38 million, which beat the analyst consensus of $52.12 million.
  • FuelCell Energy Inc. (NASDAQ:FCEL) reported weaker-than-expected third-quarter results. The company reported an adjusted loss of 64 cents per share. That missed the consensus estimate for a loss of 41 cents.
  • GitLab Inc. (NASDAQ:GTLB)  reported adjusted earnings of 24 cents per share. That beat the consensus estimate of 18 cents. Revenue rose 21% year over year to $286.25 million. It also topped the Street estimate of $273.12 million.
  • Palo Alto Networks, Inc. (NASDAQ:PANW) posted fourth-quarter revenue of $3.41 billion, beating analyst estimates of $3.35 billion. The cybersecurity company reported adjusted earnings of $1.02 per share for the quarter, beating estimates of 98 cents per share.
  • Rezolve AI PLC (NASDAQ:RZLV) first-half revenue surged 1,970% from a year earlier. It was also nearly three times the company’s full-year 2025 revenue of about $46 million.
  • NIO Inc. (NYSE:NIO) reported revenue of 32.14 billion Chinese yuan ($4.74 billion), up 69.1% year over year and 25.9% from the previous quarter. However, revenue missed the analyst consensus estimate of $4.78 billion.

Semiconductors & Software

  • Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)  raised its estimate for quarterly chipmaking equipment purchases to about 1.9 times the level it projected in December, Deputy Co-COO Cliff Hou said during a fireside chat at Semicon Taiwan.
  • Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg reportedly pushed back against a proposed national artificial-intelligence regulator during an August phone call with President Donald Trump, as the White House weighs a FINRA-style watchdog for frontier models.
  • Meta‘s plan to reshape its workforce around artificial intelligence has run into real trouble, from staff revolts to AI agents causing more chaos than they solved.
  • Adobe Inc. (NASDAQ:ADBE) announced that Anil Chakravarthy, former president of Adobe’s customer experience orchestration and worldwide field operations, will take over from Shantanu Narayen, effective December 1.
  • NVIDIA Corp. (NASDAQ:NVDA) agreed to acquire Hugging Face for $12.93 billion, bringing one of the world’s largest open artificial intelligence developer platforms under the AI chip giant.
  • NVIDIA is expanding its reach into custom AI chips through a deeper partnership with MediaTek, giving NVIDIA another way to capture spending as major technology companies increasingly develop their own processors.
  • Microsoft Corporation (NASDAQ:MSFT) will overhaul its financial reporting structure beginning in fiscal 2027. The company will move from three reportable segments to two: Agents and Infra and Devices and Consumer.
  • NetApp along with Amazon Web Services (AWS), disclosed that AWS Transform will now support Amazon FSx for NetApp ONTAP. It will enable enterprises to simplify application and data migration to AWS.
  • Broadcom is positioning itself for a major expansion in custom AI chips as Google ramps up its next-generation TPU technology and Anthropic plans to deploy 5 gigawatts of the chips in 2027.
  • Palantir Technologies Inc. (NASDAQ:PLTR) announced that Peter Zaffino, former CEO and Executive Chairman of AIG, will join the company as Global Head of Financial Services effective Jan. 15, 2027.
  • Micron Technology Inc. (NASDAQ:MU) remains in focus as strong AI-driven memory demand collides with labor tensions in Taiwan, potential semiconductor tariffs, and the company’s expanding U.S. investment plans.
  • Dell sees a more than $1 trillion opportunity in AI infrastructure through 2030, as surging inference demand and the rise of enterprise AI agents are expected to reshape data centers.
  • Amazon.com Inc. (NASDAQ:AMZN) faces a new federal lawsuit after the Federal Trade Commission and 22 states accused the company of secretly manipulating advertising auctions and extracting more than $20 billion from over 1.2 million advertisers.
  • Anthropic has reportedly signed a $35 billion cloud-computing agreement with Nvidia-backed Lambda, with the latter itself holding the lease for the Texas data center that will support the deal.

Automobile, Airlines & Spacecraft

  • Tesla Inc (NASDAQ:TSLA) unveiled more details about its Cybercab robotaxi Thursday. The event was a follow-up to the official unveiling of the robotaxi years ago and signals Tesla’s more aggressive bet on autonomous vehicles for future growth.
  • Elon Musk‘s Space Exploration Technologies Corp. (NASDAQ:SPCX) has already begun turning AI infrastructure into a business of its own, and Meta Platforms, Inc. (NASDAQ:META) appears to be testing whether it can do the same.
  • Ford Motor (NYSE:F) CEO Jim Farley shared another look at the company’s upcoming Fathom all-electric pickup truck based on the automaker’s universal EV platform.
  • Boeing Co. (NYSE:BA) reportedly paid the Federal Aviation Administration (FAA) $3.1 million after the regulator cited multiple safety-related breaches, including issues connected to the 2024 Alaska Airlines 737 MAX 9 cabin incident.
  • Uber Technologies (NYSE:UBER) is eliminating about 3,300 positions, or roughly 10% of its global workforce, as part of a restructuring designed to simplify decision-making and reduce organizational complexity. The cuts will leave the company with just under 30,000 employees.
  • NIO Inc. (NYSE:NIO) CEO William Li, during the second-quarter 2026 earnings call on Tuesday, said that the company plans to maintain a single-model strategy for its Firefly EV brand in 2027 while rolling out special editions and technology upgrades.
  • XPeng Inc. (NYSE:XPEV) said Tuesday that it delivered 39,107 vehicles in August, up 4% from a year earlier.
  • Li Auto Inc. (NASDAQ:LI) said Tuesday that it delivered 37,679 vehicles in August. That marked a 32.1% increase from 28,529 vehicles a year earlier.
  • NIO said that it delivered 35,836 vehicles in August, up 14.5% from a year earlier.

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