Artificial Intelligence
New York, August 31, 2026, 04:30 - Nokia stock dropped 3.6% as the company's €732 million cash burn put added pressure on the telecom equipment maker's efforts to grow in AI and cloud, putting…
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New York, August 31, 2026, 04:30 - Nokia stock dropped 3.6% as the company's €732 million cash burn put added pressure on the telecom…
The reported-margin marker sits below zero; restructuring created a 10-point gap versus the comparable measure.
| Metric | Value | Change |
|---|---|---|
| Net sales | €4.82B | +8% |
| AI & Cloud sales | €446M | +105% CC |
| AI & Cloud orders | ~€2.8B | Pipeline |
| Comparable operating profit | €434M | 9.0% margin |
| Reported operating result | −€50M | −1.0% margin |
| Restructuring charges | €390M | Cash burden |
| 2026 comparable operating profit | €2.1B–€2.6B |
| Management target | Somewhat above midpoint |
| Net cash + interest-bearing investments | €2.78B |
| Working-capital outflow | ~€1.15B |
| Trailing P/E screen | ~72× |
| Communications-industry average | ~34× |
Core test: AI revenue can support a rerating only if operating gains reach free cash flow.
Sources: Nokia Q2 and half-year 2026 report; MarketWatch price and volume; published valuation screen. Constant-currency growth is marked “CC.”
UiPath Inc. heads into earnings week with a high level of short interest and expectations for a strong rebound priced into the stock. Shares…
A 39% monthly rally meets high short interest and a slower sequential ARR build.
| Metric | Q1 FY2027 | Next test |
|---|---|---|
| Revenue | $418M · +17% YoY | $395M–$400M Q2 guide |
| ARR | $1.901B · +12% | $1.929B–$1.934B |
| Net new ARR | $49M | ≈$30.5M implied midpoint |
| Net retention | 109% | Stabilization or reacceleration |
| GAAP operating income | $28M | Profit durability |
| Adjusted free cash flow | $130M | Cash conversion |
High short interest can accelerate covering on a beat or deepen a reversal after a miss.
ARR growth below 12%, net retention slipping from 109%, weaker federal or international demand, and poor conversion of agentic pilots into production contracts would challenge the rerating.
Banco Azteca provides operating proof: 300+ automations across 8,800+ processes. It does not disclose UiPath contract value.
IREN Limited fell 12.53% on Friday after annual results highlighted the expense of turning contracted AI demand into operating cash flow. Shares settled at…
| Facility | Principal | Rate | Annual interest* |
|---|---|---|---|
| Microsoft GPUs | $3.6B | 6.0% | $216M |
| Mackenzie GPUs | $2.4B | 9.0% | $216M |
| Disclosed subtotal | $6.0B | — | $432M |
| Contracted ARR for 2026 capacity | $4.0B |
| Operating ARR at Aug. 26 | $1.0B |
| FY26 AI Cloud revenue | $128.8M |
| FY26 adjusted EBITDA | $245.7M |
| FY26 net loss | −$702.6M |
Horizon 2 is commissioning. Horizon 3–4 target Q4 2026 delivery. Customer acceptance turns contracted ARR into revenue; delays leave interest and construction costs running.
HALLANDALE BEACH, Florida, August 30, 2026, 15:10 EDT – Shares in Marathon Digital Holdings dropped 10.1%, erasing $458 million in market value, after the…
Higher compute output did not offset weaker Bitcoin economics and fair-value volatility.
| Cash + Bitcoin | $2.5B |
| Pledged / loaned | 26% |
| Current market cap | $4.07B |
| Gross liquid-assets / cap | 61% |
Gross holdings are not net asset value; collateral, debt, taxes and operating needs matter.
| Item | Value |
|---|---|
| Purchase price | $1.5B |
| Assumed debt | $785M |
| Annualized adjusted earnings | ~$144M |
| Purchase / earnings | ~10.4× |
| Consensus | Overweight |
| Average target | $18.00 |
| Implied upside | 68.7% |
| Target range | $6–$30 |
| FY2026 EPS estimate | -$4.56 |
Amazon.com Inc. rose 3.97% on Friday, boosting its market value by roughly $110 billion.
| Metric | Reading |
|---|---|
| Market capitalization | $2.87T |
| Trailing P/E | 21.3× |
| Average target | $327.67 |
| Target upside | 23.0% |
| Evercore target | $355.00 |
| Ratings | 59 Buy · 2 Hold · 0 Sell |
| Friday volume | 49.55M |
| 3-month average | 49.13M |
Keel Infrastructure Corp. declined 8.0% to $3.22 on Friday, cutting roughly $173 million from its market capitalization.
| Measure | Q2 2026 | Change |
|---|---|---|
| Revenue | $30.4M | −50% |
| Adjusted EBITDA | −$23.7M | from +$6.6M |
| Operating loss | −$140.8M | from +$10.8M |
| Unrestricted cash | $698M | Aug. 7 |
| Unencumbered Bitcoin | $121M | 1,861 BTC |
Categories overlap with development stages as disclosed by Keel; signed-tenant economics remain undisclosed.
| Buy / Hold / Sell | 7 / 1 / 0 |
| Average target | $6.71 |
| Implied upside | 108% |
| Target range | $4.50–$10.00 |
Marvell Technology Inc. shares slid 10.28% on Friday, wiping out close to $22.4 billion in implied equity value.
Record AI demand meets a delayed revenue bridge
| Measure | Reading | Signal |
|---|---|---|
| FY2027 EPS estimate | $4.20 | 51.6× P/E |
| FY2028 EPS estimate | $6.69 | 32.4× P/E |
| Average target | $291.26 | 34.5% upside |
| Median target | $295.00 | 36.2% upside |
| Rating mix | 37 Buy/Overweight | 6 Hold, 0 Sell |
Marvell’s current AI business is accelerating, but the market is discounting a longer bridge to Google revenue. The stock can recover if near-term custom compute and interconnect growth preserve the $18 billion fiscal 2028 target without sacrificing gross margin.
Key risks: customer concentration, Google schedule slippage, a 51.6× fiscal 2027 earnings multiple, and integration of Celestial AI and XConn.
Sources: Marvell Q2 FY2027 release; Reuters, Aug. 28, 2026; WSJ/FactSet market data and research ratings; SEC filings. Estimates are not company guarantees.
NEW YORK, August 30, 2026, 08:16 — Shares of IREN declined by 12.5% after the company unveiled $4 billion in new AI contracts at…
Market data: August 28, 2026, 16:00 EDT · Dashboard updated August 30, 2026, 08:18 EDT
AI Cloud overtook mining for the first time. Mining revenue fell 40% sequentially as hardware was retired.
The quarter proved demand but weakened near-term earnings. Adjusted EBITDA dropped 68% sequentially to $19.2m. Net loss reached $684.0m, including a $450.4m non-cash impairment.
AI mix improvedEBITDA compressedMining exit accelerated| US$ millions | FY2025 | FY2026 | Change |
|---|---|---|---|
| Total revenue | 501.0 | 707.0 | +41% |
| AI Cloud revenue | 16.4 | 128.8 | ≈8× |
| Adjusted EBITDA | 269.7 | 245.7 | −9% |
| Net income / loss | 86.9 | −702.6 | −789.5 |
| Non-cash impairments | — | 638.8 | Transition cost |
Market value / contracted ARR: about 3.2×. Market value / FY2026 revenue: about 17.9×. ARR is non-GAAP and may convert into recognized revenue more slowly.
| Microsoft GPU financing | $3.6bn | 6.0% |
| New GPU facilities | $2.8bn | 9.0% |
| Cash + commitments + prepayments | $14bn | |
| Customer prepayments | 45%–55% of related GPU capex | |
| Operational power | 810 MW | |
| Under construction | 2.1 GW | |
| Secured pipeline | >5 GW | |
Horizon 2: commissioning underway.
Horizon 3–4: delivery targeted in Q4 2026.
Microsoft: first 50 MW liquid-cooled deployment delivered in August.
2027: company targets cumulative delivery of about 0.8 GW IT load.
| Company | Close | Friday move | Volume | Market value |
|---|---|---|---|---|
| IREN | $35.45 | −12.53% | 88.62m | $12.67bn |
| CoreWeave | $84.23 | −2.94% | 17.33m | $46.41bn |
| MARA Holdings | $10.67 | −10.15% | 41.93m | $4.07bn |
IREN underperformed both peers, pointing to company-specific concern about transition timing and earnings quality.
B. Riley: Nick Giles viewed the quarter as validating IREN's commercial and financing path.
H.C. Wainwright: Buy rating retained; $90 target. That target is roughly 154% above Friday's close.
Named recommendations reported August 28, 2026. They are not a full consensus.
ARR conversion may lag. Large contracts create customer and counterparty concentration. Construction slippage, 6%–9% debt costs and more mining write-downs could delay free cash flow.
Upside sensitivities: faster commissioning, higher GPU utilization and managed-services revenue.
NVIDIA Corporation fell 4.57% to $217.55 on Friday. The decline erased about $251 billion of equity value, based on 24.1 billion shares outstanding.
| Measure | Q2 FY2027 | Comparison | Investor reading |
|---|---|---|---|
| Revenue | $96.2B | +106% YoY | Demand remains exceptional |
| Data Center | $89.0B | 92.5% of revenue | Concentration amplifies infrastructure-cycle risk |
| GAAP operating income | $63.7B | +124% YoY | Scale still outpaces expense growth |
| Accounts receivable | $63.1B | $38.5B in January | Working-capital exposure is rising |
| Inventory | $31.6B | $21.4B in January | Supply preparation raises execution stakes |
| Capital returned | $26.0B | $99.0B authorization left | Supportive, but small versus market value |
The Friday selloff erased more than two and a half quarters of current revenue in market value. Yet the stock remained above its pre-earnings level. Investors accepted the demand case but demanded cleaner proof that supply, China exposure and gross margin can support it.
Memory shortages could cap shipments despite firm orders.
Q3 guidance assumes no Data Center compute revenue from China.
A 12.1× annualized sales multiple leaves little room for delayed spending.
Next confirmed event: Goldman Sachs Communacopia + Technology Conference · Sep. 10, 2026.
Salesforce Inc. advanced 1.6% on Friday. Volume hit 34.4 million shares, roughly 2.3 times the stock's recent average. Shares ended the session at $256.00,…
| Company | Close | Move | Market cap | P/E |
|---|---|---|---|---|
| Salesforce | $256.00 | +1.6% | $210.2B | 23.5× |
| ServiceNow | $144.71 | +4.5% | $149.7B | 89.3× |
| Workday | $204.72 | +5.6% | $50.4B | 41.4× |
| Adobe | $291.52 | +0.8% | $117.3B | 16.7× |
Agentforce and Data 360 ARR approached $3.9 billion and grew more than 210%. Yet Informatica supplied $456 million and more than four points of quarterly revenue growth. The next leg depends on converting AI usage into organic subscription expansion.
The headline adjusted EPS included a $2.53-per-share investment gain. Informatica complicates organic comparisons. Investment values can reverse, while slower Agentforce monetization could compress a multiple that now sits close to the average analyst target.
Nokia Oyj ADRs declined by 3.59% on Friday, despite gains in its fastest-expanding network unit. The drop prompted investors to consider AI demand in…
NYSE: NOK · figures updated August 28, 2026, 20:00 EDT unless noted
August 31: U.S. trading resumes; Friday low was $10.16.
Q3: Sales expected to rise 3%–7% sequentially.
Q4: Management expects a meaningful operating-profit increase.
Risk flags: supply constraints, restructuring execution, customer capex, currency and pricing competition.
Marvell Technology, Inc. dropped 10.28% on Friday. Shares finished at $216.62, with 48.7 million traded.
| Measure | Latest | Change / signal |
|---|---|---|
| GAAP gross margin | 53.1% | Q3 guide: 52.9%–53.9% |
| Adjusted gross margin | 58.9% | Q3 guide: 57.5%–58.5% |
| GAAP net income | $308.0M | 11.2% margin |
| Operating cash flow | $605.5M | 22.1% of revenue |
| Q3 revenue midpoint | $3.15B | ≈15% above Q2 |
| FY2028 revenue target | ≈$18B | Custom silicon-led |
Google custom-chip revenue becomes materially larger in fiscal 2029. Investor Day: Oct. 6, 2026.
Mean target: $278.89 from 44 analysts, implying 28.8% upside. Range: $126–$400.
Risks: custom-chip delays, customer concentration, margin compression, export controls and advanced-packaging constraints.
SYDNEY, August 29, 2026, 14:00. IREN shares dropped 12.5% after the company’s $30 billion capital expenditure raised concerns in light of its $4 billion…
| Metric | Q4 FY26 |
|---|---|
| AI cloud revenue | $70.5M · +110% QoQ |
| Bitcoin mining revenue | $66.7M |
| Total revenue | $137.2M · −5% QoQ |
| Adjusted EBITDA | $19.2M · −68% QoQ |
| Net loss | −$684.0M |
| Metric | FY26 |
|---|---|
| AI cloud revenue | $128.8M vs $16.4M |
| Bitcoin mining revenue | $578.2M |
| Total revenue | $707.0M |
| Adjusted EBITDA margin | 35% vs 54% |
| Non-cash impairments | $638.8M |
| Watch item | Investor signal |
|---|---|
| GPU deployment | Revenue conversion |
| Power and construction | Schedule risk |
| Customer concentration | Credit exposure |
| Debt and equity issuance | Dilution / refinancing |
| Adjusted EBITDA margin | Return on buildout |
Amazon shares jumped 3.97% on Friday, adding roughly $110 billion of market value. Investors rewarded its AI exposure even as that buildout consumed more…
After-hours: $266.15
$10.17 × 10.79B shares
Day range: $257.78–$267.56
Market cap: $2.87T
Amazon outperformed the Nasdaq Composite by 4.49 percentage points.
Fed Chair Kevin Warsh said AI growth had exceeded even proponents’ expectations. Amazon led the Magnificent Seven after the remarks.
The move also followed fresh bullish analyst commentary and renewed attention to AWS infrastructure demand.
There was no new Amazon earnings release Friday.
| Measure | Q2 2026 |
|---|---|
| Total sales | $200.6B · +20% |
| Operating income | $27.5B · +43% |
| AWS sales | $42.2B · +37% |
| AWS operating income | $16.6B |
| AWS operating margin | 39.3% |
| AWS share of operating profit | 60.4% |
$161.4B · up 33%
−$7.6B · versus +$18.2B one year earlier
Property and equipment purchases increased by $66.1B, primarily for AI.
| Reported net income | $62.6B |
| Non-operating other income | $53.4B |
| Main driver | Anthropic investment |
| Q3 operating-income guide | $22.5B–$26.5B |
The guide midpoint is about 11% below Q2 operating income. Reported EPS should not be read as recurring operating profit.
Consensus: Strong Buy · 60 analysts · $230 low · $405 high.
Targets were checked Aug. 29, 2026. They can lag capex revisions and market-rate changes.
| Signal | Constructive | Warning |
|---|---|---|
| AWS growth | Stays near 37% | Capacity arrives before demand |
| Free cash flow | Returns positive | Outflow deepens beyond −$7.6B |
| AWS margin | Holds near 39% | Power and depreciation compress it |
| Q3 operating income | Above $26.5B | Below $22.5B |
Amazon’s AI businesses are scaling fast enough to command a premium. The stock’s next leg depends on converting infrastructure spending back into free cash flow.
Risks: slower AI utilization, higher rates, energy constraints, depreciation and retail-cost inflation. Faster Trainium adoption or stronger AWS margins would improve the upside case.
Sources: Amazon Q2 results · MarketWatch quote · analyst consensus.
A U.S. judge permanently blocked the Pentagon's designation of Anthropic as a supply-chain risk. The ruling removes a major procurement threat as the private…
| Question | Result |
|---|---|
| Supply-chain designation | Unlawful, arbitrary |
| First Amendment | Retaliation found |
| Fifth Amendment | Due process denied |
| Government remedy | Rescind label and notices |
| Pentagon vendor choice | Still discretionary |
The $200 million contract is small relative to valuation. The material channel is distribution: a supply-chain label could have reached contractors, civilian agencies and enterprise partners.
Nokia Oyj slipped 3.59% on Friday, wiping out roughly $2.1 billion in market capitalization. The stock ended the session at $10.21, breaking a three-day…
| Comparable operating profit | €434M | +18% YoY |
| Comparable operating margin | 9.0% | +70 bps |
| Reported operating result | −€50M | €390M restructuring charge |
| Free cash flow | −€732M | Q2 2026 |
| Net cash | €2.78B | −€1.01B QoQ |
| Metric | Latest | Comparison | Investor read-through |
|---|---|---|---|
| Group sales | €4.82B | +9% constant currency | Broad growth returned |
| Network Infrastructure sales | €2.04B | +12% constant currency | Optical and IP led |
| AI & Cloud sales | €446M | +105% constant currency | 9.3% of group sales |
| 2026 comparable operating profit | €2.1B–€2.6B | Midpoint €2.35B | Orders equal 1.19× midpoint |
| Analyst mix | 8 Buy / 2 Hold / 1 Sell | Targets $8.50–$21 | Wide execution range |
| Company | Ticker | Move |
|---|---|---|
| Nokia | NOK | −3.59% |
| BlackBerry | BB | −5.66% |
| Motorola Solutions | MSI | −0.11% |
| Apple | AAPL | +1.63% |
Oct. 22, 2026 Confirmed Q3 reporting date.
Upside: Faster order conversion, sustained Optical/IP growth and positive free cash flow.
Downside: Supply delays, continued restructuring outflows, customer concentration or currency pressure.
