Co-engineered reference design provides a proven blueprint for deploying high-density AI clusters faster and with less risk. Design supports 246 kW AI racks and large-scale deployments with modular AI clusters of up to 10.4 MW IT load for easy scalability Collaboration combines AMD AI platform innovation and Schneider Electric’s expertise in power, cooling, and digital infrastructure SAN FRANCISCO, July 23, 2026 (GLOBE NEWSWIRE) -- Schneider Electric, a global energy technology leader, and AMD today announced a jointly developed and validated reference design for the AMD Helios rackscale solution that provides a scalable blueprint for deploying high-density AI environments faster and with reduced risk and complexity. The reference design marks the first milestone of the collaboration between Schneider Electric and AMD and delivers upon the companies’ joint focus to create an easier path to AI Factory deployment.
The new reference design is the first ever developed to support high-density AI workloads on the Helios rackscale solution, which is powered by AMD Instinct™ MI455X GPUs, 6th Gen AMD EPYC™ CPUs, AMD Pensando™ Vulcano NICs and the open ROCm™ software ecosystem. AMD Helios is designed to deliver breakthrough AI performance through advances in compute, interconnect bandwidth, memory capacity and system-level integration, allowing customers to run larger, more complex AI workloads faster while optimizing power and efficiency.
As AI workloads push data center infrastructure to unprecedented limits, reference designs provide data center architects and operators with tested, scalable designs proven to handle new power densities, thermal requirements and operational complexity. By modeling data center physical infrastructure performance, these pre‑validated blueprints help shorten the planning process by defining how power, cooling, and IT infrastructure should be organized to build a reliable, scalable, and AI‑ready data center. The AMD Helios reference design includes information on four technical areas: facility power, facility cooling, IT space, and lifecycle software.
“Today organizations require comprehensive, AI-ready reference designs that can take them from planning to deployment faster and with less risk," said Manish Kumar, Executive Vice President, Secure Power & Data Centers at Schneider Electric. “Through our collaboration with AMD, we're delivering an engineering-backed reference design that bridges the gap between advanced AI compute platforms, energy tech, and real-world data center implementation, enabling customers to deploy scalable, high-density AI environments with greater confidence, efficiency, and speed.”
“AI infrastructure is rapidly moving to full-scale AI factories, and that requires compute, networking, power and cooling to be designed together from the start,” said Forrest Norrod, executive vice president and general manager, Data Center Solutions Business Group, AMD. “AMD Helios provides an open, rack-scale architecture built to deliver the performance, efficiency and flexibility required for next-generation AI workloads. By working with Schneider Electric to create a validated reference design, we are giving customers a practical blueprint to accelerate high-density AI deployments, reduce integration risk and scale with greater confidence and efficiency.”
The new collaboration brings together AMD AI platform innovation and Schneider Electric’s expertise in power, cooling, and digital infrastructure, creating a more tightly integrated approach to deploying both greenfield AI factories and high-density retrofit environments. The reference design supports:
Modular, multi-cluster environments, featuring AI clusters of up to 10.4 MW IT capacity for greenfield deploymentsHigh-density AI workloads up to 246 kW per rackAdvanced liquid cooling using Motivair by Schneider Electric CDU-based and hybrid air/liquid approaches capable of removing up to 84% of heatA digital-first infrastructure approach, which includes: Electrical and thermal design validated using ETAP and EcoStruxure™ IT Design CFD simulation tools that enable real-time monitoring and analytics, AI-driven predictive maintenance, and system-level optimization across power, cooling, and ITIntegrated Electrical Digital Twin capabilities to model, analyze, and manage infrastructure performanceSupport from AVEVA’s Unified Operations Center for real-time monitoring and operational visibility Power and cooling infrastructure deployments that adhere to AMD Helios platform requirements for reduced integration complexity and deployment riskBetter energy efficiency, with ability to achieve PUE as low as ~1.12 at full load The reference design has been validated to ANSI standards for U.S. deployments, with plans to extend the framework to support IEC standards for global implementations in the future.
Data Center Reference Design 121: 10.4 and 6.2 MW, Tier III, ANSI, Chilled Water, Liquid-Cooled AI Clusters (AMD Instinct MI455X GPUs) About Schneider Electric
Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory.
With 160,000 employees and one million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.
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Discover the newest perspectives on Advancing Energy Tech on Schneider Electric Insights.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92c9a990-e87a-4338-92c6-09f0748e2c4a
Schneider Electric and AMD release first Helios platform reference design to accelerate AI Factory d... Schneider Electric and AMD release first Helios platform reference design to accelerate AI Factory d...
Advanced Micro Devices AMD and Cerebras Systems (CBRS) have announced a technical partnership to develop a disaggregated artificial intelligence inference solution, combining AMD's Helios rackscale AI infrastructure with Cerebras' Wafer-Scale Engine technology.
The companies unveiled the offering at Advancing AI 2026, saying the joint solution is designed to meet the growing demand for AI infrastructure capable of handling different inference workloads while improving efficiency and reducing latency.
The system integrates AMD Helios rackscale solutions with Cerebras' Wafer-Scale Engine in a single inference workflow.
According to the companies, AMD Helios will process prompts and large context windows, while the Cerebras Wafer-Scale Engine will handle token generation for applications requiring faster response times.
Based on modeling conducted in July 2026, the companies said the combined system is expected to deliver up to five times higher tokens per second per watt compared with a Cerebras Wafer-Scale Engine-only configuration.
The deal marks the second successive deal AMD made within 2 days. AMD on the previous day signed a deal to invest $5 billion in Anthropic.
Despite the announcements, AMD shares fell 3% on Thursday, while Cerebras stock rose 3.9%.
AMD and Cerebras said AI inference workloads are becoming increasingly diverse, creating demand for infrastructure optimized for different computing needs.
According to the companies, high-volume inference workloads prioritize maximizing token generation, while applications such as coding assistants, real-time copilots and live AI agents require significantly lower latency and faster response times.
"AI inference is becoming one of the largest infrastructure opportunities in AI, and its growing diversity requires a more flexible approach," AMD Chief Executive Lisa Su said.
"Together with Cerebras, we are extending that leadership into the most latency-sensitive applications."
Andrew Feldman, CEO and co-founder of Cerebras, said, "Partnering with AMD gives us an incredible opportunity to bring that performance to even more customers."
As part of the partnership, Cerebras plans to deploy AMD Helios systems across its data centers.
The companies said the joint inference solution is expected to become available initially through Cerebras Cloud in the second half of 2026.
AMD said the collaboration is intended to provide customers with infrastructure that matches compute technologies to specific workload requirements as AI deployment continues to expand across enterprise and cloud environments.
The Cerebras announcement comes a day after AMD reached a reported agreement with Anthropic covering tens of billions of dollars' worth of AI servers, according to a Wall Street Journal report.
Under the reported agreement, Anthropic will purchase up to 2 gigawatts of AMD's next-generation Instinct MI450 chips beginning in the first half of 2027.
The report also said AMD will invest up to $5 billion in Anthropic, contingent on the AI startup meeting specific deployment milestones.
Cerebras has experienced sharp volatility since its May market debut.
After pricing its IPO at $185 per share, the stock surged to an intraday high of $386.34 on its first day of trading before retreating to below $161 in late June. Following Thursday's rally, the shares were trading at $217.78.
Earlier this year, Cerebras announced a more than $10 billion agreement with OpenAI to provide 750 megawatts of AI computing capacity through 2028, marking one of the company's largest commercial deals to date.
SAN JOSE, Calif.--(BUSINESS WIRE)--Arrcus, the leader in distributed networking infrastructure, and UfiSpace, a global leader in open networking solutions, announced the integration of ArcOS® network operating system with UfiSpace's high-performance open switches, powered by Broadcom® silicon. Together, with GIGABYTE's modular AI Cluster, GIGAPOD featuring the AMD EPYC & AMD Instinct platforms, this solution is showcased at AMD Advancing AI Day 2026 in San Francisco on July 22-23. The solut.
AUSTIN, Texas--(BUSINESS WIRE)---- $HYFT #ai--MindWalk Holdings Corp. (“MindWalk”) (NASDAQ: HYFT), a Bio-Native AI company, today unveiled the first public demonstration of ReefIQ™, its biological context layer for AI drug discovery, running on AMD Instinct™ at AMD's Advancing AI 2026 in San Francisco. MindWalk is featured in the AMD Instinct™ Demo Showcase, appearing in one of four custom demo vignettes, with an accompanying video interview distributed through AMD's channels. The demonstration is the first.
Chipmaker AMD is taking aim at competitor Nvidia with its latest hardware release: a rack-scale system designed to power computing needs of the world’s largest AI labs.
At the company’s sold-out Advancing AI conference in San Francisco on Thursday, AMD Chair and CEO Dr. Lisa Su promoted the new AI rack system known as Helios — along with its growing list of customers, including Microsoft — as the company prepares to ship it later this year. Su also pitched the company’s newest chips that are designed to feed the compute-hungry dragon that is the AI industry.
Rack systems combine many processors into a single high-powered unit. They are built for data centers, where they train and run AI models and other compute-intensive workloads.
Su called Helios the tech industry’s “highest-performance AI rack,” adding that it was “built to train and run the most demanding frontier models in the world at massive scale.” The system will be deployed by leading AI companies at gigawatt-scale, the company said.
Nvidia has historically dominated this market with its Vera Rubin and Grace Blackwell rack-scale systems. AMD is clearly looking to get in on the action. And Helios’ performance metrics appear to give it a real chance, beating out Vera Rubin by a number of metrics, The Register reported.
Helios, which was revealed in 2025 and shown onstage in January at CES 2026, already has several well-known customers, including OpenAI, Meta, Oracle, Anthropic, and Microsoft, all of which have plans to deploy the system. Microsoft CEO Satya Nadella said Monday that the company would expand its Azure infrastructure with Helios. Meanwhile, Anthropic and AMD announced a strategic partnership Wednesday to deploy up to two gigawatts of GPUs via the new rack system.
AMD also introduced Thursday its Venice-X CPU, which is designed for data centers and to handle high-computing workloads. The Venice-X is expected to launch in 2027.
During her remarks, Su commented on the trajectory of the chip industry, claiming that, by the year 2030, chips that power AI will become a massive part of the overall computing market. This is because the industry is “seeing a step change in compute demand” driven largely by the rise of agentic AI, she said.
“When you ask the agent to do something, it actually has dozens of steps, and it has to reason, and it has to call tools, and it has to access data, and it has to keep doing it over and over until it solves the problem, and so you need lots of GPUs to do all that,” the executive said.
“We’re now expecting that by 2030, the AI accelerator market is going to reach about $1.4 trillion,” Su said. “What that means is, by the end of the decade, the AI accelerator market is going to approach the size of the entire semiconductor market today.”
“We do expect that GPUs are going to make up the vast majority of that market because the algorithms are still very much in their infancy, and we’re still continuing to see the workloads change, and that favors programmability in the overall silicon ecosystem,” she added.
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Lucas is a senior writer at TechCrunch, where he covers artificial intelligence, consumer tech, and startups. He previously covered AI and cybersecurity at Gizmodo. You can contact Lucas by emailing [email protected].
Advanced Micro Devices stock is trending. Why is AMD stock up today? Intel Sees Unprecedented AI DemandIntel reported 25% year-over-year revenue growth in the second quarter, representing its strongest revenue growth in more than 15 years. The chipmaker also delivered adjusted earnings that were double what analysts were expecting.
Intel’s Data Center and AI segment increased 59% year-over-year to $6.3 billion, and the company guided for continued revenue growth well above analyst expectations.
Intel forecasted third-quarter adjusted earnings of 38 cents per share on revenue of $15.8 billion to $16.8 billion, versus analyst estimates of 24 cents and $15.1 billion, according to Benzinga Pro. The company also raised its capital expenditures outlook to a range of $18 billion to $20 billion, per Reuters.
“AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates,” Intel CFO Dave Zinsner said.
Intel and AMD are the two suppliers of x86 server processors, the host CPUs that pair with GPUs and other accelerators inside AI data center racks. The two chipmakers are the major players in this market, so the demand signal from Intel is being viewed as a positive for AMD.
AMD is due to report its own financial results for the second quarter after the market close on Aug. 4.
AMD Shares Move Higher After The CloseAMD Price Action: AMD shares were up 2.81% in after-hours, trading at $554.85 at the time of publication on Thursday, according to Benzinga Pro.
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TSMC’s Price Hikes Could Show Which AI Chip Stocks Have Real Pricing PowerAdvanced Micro Devices NASDAQ: AMD executives used a question-and-answer session at the company’s Advancing AI 2026 conference to expand on its AI data center roadmap, customer engagements and expectations for growth in CPUs, GPUs and full rack-scale systems.
Chair and CEO Dr. Lisa Su said AMD is “tremendously excited” about the opportunity in AI and highlighted the company’s Venice CPU launch and Helios rack-scale systems as key parts of its strategy. Matt Ramsay, who leads financial strategy and investor relations at AMD, told participants that management would not discuss near-term financial results ahead of the company’s upcoming second-quarter earnings report.
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AMD Sees Expanding CPU Opportunity From Agentic AI AMD’s $5 Billion Anthropic Deal Could Redraw the AI Chip BattleExecutives said AI workloads are increasing demand for CPUs, particularly as agentic AI requires more orchestration around end-to-end workloads. Su said AMD remains focused on capturing more than 50% of the CPU market, citing progress in recent quarters and rising customer interest in Venice.
Dan McNamara, who runs AMD’s server business, said the company’s estimate of the CPU server market was based on customer discussions and analysis of AMD’s own workloads. In the “outer years,” he said agentic AI applications could represent “probably like 50%” of the CPU server opportunity.
The 2026 Blueprint: 6 Stocks for a Brand New PortfolioSu added that CPU-to-GPU ratios could change meaningfully as AI systems evolve. While some head-node configurations today may use four GPUs per CPU, she said agentic AI could eventually push the ratio above one CPU per GPU, potentially reaching two CPUs for one GPU in some scenarios.
Helios Shipments to Begin in September Su clarified that AMD expects first shipments of Helios systems to begin in the third quarter, specifically in September. She said the ramp will continue into the fourth quarter and the first half of next year.
“We’ve actually built the ramp this way because it is a complex system,” Su said, adding that AMD wants original design manufacturers to tune the manufacturing process and align shipments with customer data center buildouts.
On customer deployments, Su said Anthropic, OpenAI and Meta moving into Helios is “a big deal for AMD.” Regarding Anthropic, she said AMD will start shipments for the first gigawatt in the first half of 2027 and aims to get as much of that first gigawatt into 2027 as possible, depending on data center readiness. AMD previously announced up to 2 gigawatts for the MI450 engagement with Anthropic.
Customer Deals Seen as Multi-Generation Relationships Asked about the Anthropic agreement, Su said each large customer engagement is structured differently, but she emphasized that customers generally do not choose an accelerator for only one generation because of the engineering effort involved.
“We are actively talking with every one of our largest customers, including Anthropic, about what’s beyond MI450,” Su said. She said there is “a lot of excitement” around MI500 and discussions about future workloads beginning with MI600.
Vamsi Kompella, who runs AMD’s AI business, said AMD is also working with Anthropic to tune and extend Claude’s capabilities for high-performance optimization on AMD platforms. He said AMD’s open approach to instruction sets, compilers and tool chains helps AI systems become productive on the platform more quickly.
Kompella also discussed ROCm.ai, calling it AMD’s biggest software leap since the early days of its strategy. He said collaborations with OpenAI on Codex and Anthropic on Claude are expected to improve developer access to AMD platforms over the coming months.
Manufacturing, Power and Deployment Are Key Focus Areas Su said AMD’s market projections consider not only demand but also power availability, supplier capacity and customer capital. She said AMD has planned capacity for “significant growth” in 2027 and 2028, while longer-term growth in 2029 and 2030 would require the broader ecosystem to build at a similar pace.
Forrest Norrod, who leads AMD’s data center business, said AMD is working closely with OEM and ODM partners, including Sanmina and Wiwynn, to ensure capacity to build, integrate, test and validate rack-scale systems. He also said AMD retained a large services arm from its ZT acquisition, which is being used for internal deployments and to help customers deploy MI350 and MI455 systems.
Su added that AMD now works with customers much earlier in the data center planning process, saying the company has “easily 12 to 18 months of visibility” into power planning and corresponding GPU and Helios system needs.
Roadmap Includes MI500 Networking and Memory Flexibility Norrod said the MI500 generation is expected to begin a transition from purely electrical scale-up networking toward optical networking, though he emphasized it will not be an immediate shift. He said AMD is working with ecosystem partners and expects optical technologies to play a larger role over future generations.
On scale-up protocols, Norrod said MI450 supports UALink transported over Ethernet and that ESUN is a set of Ethernet extensions that can help with that approach. He said AMD expects UALink over Ethernet to continue into MI500, while adding that the company will provide more detail closer to the MI500 timeframe.
Asked about HBM memory, Kompella said AMD studies workload characteristics and separates bandwidth and capacity considerations. He said AMD’s chiplet architecture gives it flexibility to optimize memory capacity while preserving bandwidth constraints. Su added that memory capacity remains valuable to customers, including for inferencing performance, but said AMD will work to ensure memory is used efficiently because it is a significant part of total cost of ownership.
Su closed the session by saying AMD views AI as “a complete compute picture,” spanning CPUs, GPUs, Helios systems and other compute elements. She said AMD believes it can differentiate through an end-to-end approach across AI infrastructure.
About Advanced Micro Devices (NASDAQ:AMD)Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.
Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Nokia Oyj (NOK), a Finnish mobile network equipment maker, reported a stronger-than-expected second quarter as growing demand from artificial intelligence data
The New Nokia: A Bullish Upgrade Ignites This Big AI Bet Nokia NYSE: NOK reported 9% constant-currency net sales growth for the second quarter of 2026, with executives pointing to strong demand from AI and cloud customers and continued progress on the company’s strategy outlined at its Capital Markets Day.
President and CEO Justin Hotard said the quarter showed “continued progress” against Nokia’s priorities, with the company focused on what he called the “AI super cycle.” He said net sales from AI and cloud customers more than doubled year over year to EUR 446 million, while order intake in that segment reached EUR 2.8 billion.
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More Than Just Brains: The AI Revolution's Nervous SystemHotard cautioned that the order figure reflected several significant long-term orders as customers moved to secure supply in a constrained environment. He said roughly half of the AI and cloud order volume received in the quarter is expected to convert to revenue over the next 12 months, adding that order patterns in the market can be “lumpy” and that investors should not expect that level of intake every quarter.
Margins Improve as Network Infrastructure Leads Growth CFO Marco Wirén said comparable net sales grew 9% in the quarter, supported mainly by Network Infrastructure. Gross profit totaled EUR 2.2 billion, while gross margin rose 70 basis points to 46%. Comparable operating profit was EUR 434 million, with operating margin increasing 70 basis points to 9%.
NVIDIA’s Billion-Dollar Bet Puts Nokia Back in the Growth GameWirén said the quarter benefited from some software revenue recognition that came in during the second quarter instead of the third quarter. He also noted that higher stock-based compensation expense created a 150-basis-point year-over-year headwind to operating margin, driven by Nokia’s share price increase, an expansion of the program and earlier issuance this year.
Network Infrastructure net sales grew 12%, with Optical Networks up 20% and IP Networks up 16%. Wirén said Optical Networks benefited from continued AI and cloud demand as well as demand from telecom customers investing in transport infrastructure. IP Networks benefited as order momentum from the second half of 2025 began converting into revenue.
Fixed Networks sales declined 2%. Within that business, Optical Line Terminal sales rose 18%, while ONT sales fell 16% as Nokia continued to focus on higher-value parts of the portfolio. Network Infrastructure gross margin increased 240 basis points to 42.7%, helped by higher revenue scale, Infinera acquisition synergies and favorable mix in Fixed Networks, partly offset by growth investments in Optical and IP Networks.
Mobile Infrastructure Grows, But Q3 Margin Expected to Dip Mobile Infrastructure net sales increased 7% in the quarter. Wirén said core software grew 1%, radio networks increased 7% and technology standards rose 15%. Technology standards benefited from new agreements and catch-up revenue recognition, though Nokia continues to expect full-year technology standards sales and profitability to be similar to 2025 levels.
Mobile Infrastructure gross margin was 49.3%, which Wirén said was better than expected because of a higher contribution from software sales that had previously been anticipated in the third quarter. Because of that phasing, Nokia expects Mobile Infrastructure gross margin in the third quarter to be closer to 44% to 46%, before improving again in the fourth quarter in line with normal seasonality.
By customer segment, AI and cloud was Nokia’s fastest-growing area, with net sales up 105% year over year. Telecom sales increased 4%, while technology licensing grew 15%.
AI-RAN Platform and Optical Investments Highlight Strategy Hotard said Nokia launched what it described as the industry’s first commercial AI-RAN platform, which he said marks a shift from hardware-defined radio networks to software-defined platforms. He said the platform is expected to deliver more than 100% spectral efficiency gains by 2028, effectively doubling the capacity operators can obtain from existing spectrum.
The platform is open, programmable and O-RAN compliant, and Nokia expects pilot deployments to begin at the end of 2026, with commercial availability in 2027. In the Q&A session, Hotard said the company expects more significant volume in 2028.
Nokia also highlighted investments in optical manufacturing capacity. Hotard said a new indium phosphide fab in San Jose is processing test wafers and remains on track for volume production by the end of the year. Nokia also announced plans to scale its Pennsylvania facility, increasing advanced test and packaging capacity for optical systems by 10 times, and said it acquired a manufacturing site from NXP in Arizona to increase indium phosphide fab capacity.
Hotard said the Arizona fab is expected to come online no earlier than 2029, while the San Jose facility should ramp in 2027 after volume manufacturing starts later this year.
Discontinued Operations and Restructuring Updates Wirén said Nokia has classified its Fixed Wireless Access business and Enterprise Campus Edge business as discontinued operations. The move followed Nokia’s agreement to sell the Fixed Wireless Access business to Inseego and its view that the sale of Enterprise Campus Edge is now highly probable.
For the second quarter, Wirén said the reporting change reduced comparable net sales by EUR 66 million and increased comparable operating profit by EUR 13 million. It also caused minor cost allocation changes between Network Infrastructure and Mobile Infrastructure.
Nokia remains on track to complete its 2023-2026 restructuring program this year and achieve EUR 1.2 billion in gross cost savings. Wirén also said Nokia is accelerating the integration of its Chinese operations into its global operating model after taking full ownership at the end of 2025. The company now expects to recognize about EUR 350 million of planned one-time charges for that program by the end of 2026. Additional efficiency programs, mainly affecting Europe, are expected to result in EUR 200 million of restructuring charges in 2026.
Overall, Nokia expects restructuring charges of about EUR 800 million in 2026.
Cash Flow Weakens Seasonally; Outlook Maintained Free cash flow was negative EUR 732 million in the quarter. Wirén said the second quarter is typically Nokia’s weakest for cash generation because annual employee incentives are paid during the period. The company also saw working capital increase as the business continued to grow. Nokia ended the quarter with EUR 2.8 billion in net cash.
Because of higher restructuring costs and investments in working capital to prepare for growth, Nokia now expects to track toward the low end of its free cash flow conversion assumption of 55% to 75%.
Nokia said there was no operational change to its comparable operating profit guidance, aside from the technical adjustment related to discontinued operations. Wirén said the company continues to track “somewhat above the midpoint” of its operating profit range. For the third quarter, Nokia expects sequential net sales growth of 3% to 7% and operating profit broadly similar to the second quarter, followed by a meaningful improvement in the fourth quarter.
During the Q&A session, Hotard said Nokia remains broadly supply constrained in optical networks, particularly for leading-edge products. He said if more supply were available, Nokia would “probably generate more revenue.” He also said memory remains the most significant supply chain constraint, alongside broader component limitations affecting the technology ecosystem.
About Nokia (NYSE:NOK)Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.
Today Nokia's core activities center on designing, building and supporting communications networks and related software.
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MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nokia wasn't on the list.
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Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2026. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
New York, New York--(Newsfile Corp. - July 23, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Alibaba Group Holding Limited (NYSE: BABA) resulting from allegations that Alibaba may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Alibaba securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/alibaba-group-holding-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
WHAT IS THIS ABOUT: On June 24, 2026, Financial Times published an article entitled "Anthropic accuses Alibaba of obtaining illicit access to Claude". The article stated that Anthropic has "accused Chinese ecommerce giant Alibaba of obtaining illicit access to Claude by creating fake accounts designed to access the AI model which the American company does not offer to Chinese groups."
On this news, Alibaba American Depositary Shares ("ADS") fell 2.7% on June 24, 2026.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
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Building a great product is one thing. Getting a company like Nvidia to put its name behind it is something else entirely.
In this episode of Build Mode, host and Startup Battlefield lead Isabelle Johannessen sits down with Sydney Sykes, who leads global venture capital alliances and partnerships at Nvidia, to unpack how startups break into the Nvidia ecosystem and what a corporate venture capital partnership actually looks like once they’re in.
Sydney explains how founders can get on Nvidia’s radar through programs like Nvidia Inception, why strategic alignment matters more than a slick pitch deck, and how corporate venture capital differs from traditional venture capital when it comes to fundraising, diligence, and deal terms.
Drawing on her experience as an investor at NEA and Lightspeed Venture Partners, and as co-founder of Black VC, she also discusses access and representation in venture capital and how the AI boom is reshaping who gets funded. She closes with practical fundraising advice for founders hoping to build lasting relationships with corporate VCs like Nvidia.
They get into:
How a startup can “enter the Nvidia orbit” through the Nvidia Inception program. What Nvidia looks for before offering its stamp of approval to an AI startup. Corporate venture capital vs. traditional venture capital — what founders need to know. Why a corporate VC checks for strategic relevance, not just financial upside. How to pitch the same startup differently to a corporate VC vs. an institutional VC. Why founders should build their cap table like a puzzle, not a popularity contest. How the AI boom is lowering barriers to entrepreneurship — and where old barriers remain. Why Sydney believes VCs should pay closer attention to energy and data center infrastructure. How Black VC is expanding access and education across the venture capital industry. Sydney’s advice for founders trying to break into the corporate venture ecosystem. Subscribe to Build Mode on Apple Podcasts, Spotify, or wherever you like to listen. And watch the full videos on YouTube. New episodes of Build Mode drop every Thursday.
Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.
Maggie Nye is a Podcast Producer for TechCrunch based in Denver, Colorado. Previously, she worked as the Brand and Content Manager for BUILT BY GIRLS where she developed an interest in tech and a passion for creating equitable and welcoming professional tech spaces. She holds a bachelor’s degree in Journalism with a minor in English from Hofstra University in New York.
You can contact or verify outreach from Maggie by emailing [email protected].
Isabelle leads Startup Battlefield, TechCrunch’s iconic launchpad and competition for the world’s most promising early-stage startups.
You can contact or verify outreach from Isabelle by emailing [email protected].
She scouts top founders across 99+ countries and prepares them to pitch on the Disrupt stage in front of tier-one investors and global media. Before TechCrunch, she designed and led international startup acceleration programs across Japan, Korea, Italy, and Spain—connecting global founders with VCs and helping them successfully enter the U.S. market. With a Master’s in Entrepreneurship & Disruptive Innovation—and a past life as a professional singer—she brings a blend of strategic rigor and stage presence to help founders craft compelling stories and stand out in crowded markets.
NVIDIA Draws Fresh BuyingVirtus Investment Partners’ Joe Terranova told CNBC’s “Halftime Report” that he added to NVIDIA after the stock showed signs of a technical momentum breakout. He said NVIDIA’s fundamentals remain well known, but his latest purchases focused on the stock’s chart setup.
Broadcom And AMD Stay In FocusHyperscalers Drive The Chip TradeBrown said Alphabet’s earnings are important because they give investors a clean read on hyperscaler capital spending and whether AI infrastructure projects remain on track. He said investors who believe in the theme likely want exposure before those updates.
Memory And Capex Support SentimentLink said she added Micron after the stock pulled back from its highs while fundamentals stayed strong. She said memory and compute remain in short supply, giving Micron pricing power and stronger earnings visibility.
Jason Snipe, founder and chief investment officer of Odyssey Capital Advisors, during CNBC’s “Halftime Report” said the semiconductor pullback looked like a positioning reset rather than a fundamental break.
He said hyperscaler capital spending is unlikely to slow and expects Alphabet and other large cloud buyers to reaffirm, or potentially raise, spending plans.
NVDA Price Action: NVIDIA shares were down 1.09% at $209.74 at the time of publication on Thursday, according to Benzinga Pro data.
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The bull case for NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) looks strong on paper. NVDA stock trades at $208.48, up 22% over the past year; the company just posted $81.61 billion in quarterly revenue; and NVIDIA CEO Jensen Huang keeps describing the AI buildout as the largest infrastructure project in history.
However, a reported set of remarks out of China this week hits at the one thing bulls take for granted: NVIDIA’s CUDA software moat. If the thesis is right, it changes the math on NVDA stock; by extension, this could also carry negative implications for the iShares Semiconductor ETF (NASDAQ:SOXX) as well as individual U.S. chip names like Intel (NASDAQ:INTC) and Advanced Micro Devices (NASDAQ:AMD).
The Chinese CEO Behind the Bear Case According to a summary of a leaked investor call attributed to DeepSeek CEO Liang Wenfeng, posted on X by Citrini Research analyst Jukan (@jukan05), DeepSeek is working closely with Huawei and believes it can secure roughly 16,000 Huawei AI chips. The remarks are reported and unverified.
The reported claims go further. Wenfeng allegedly argued that AI-powered code generation and languages such as TileLang could rapidly lower the CUDA ecosystem’s barriers to entry, and that DeepSeek has already cut its software dependence on NVIDIA using its own compiler and a TileLang-based environment. Port that stack to Huawei silicon, the argument goes, and Huawei’s 950 SuperNode could replace workloads currently handled by NVIDIA’s GB200 and GB300.
Jukan’s own summary characterization, not a Wenfeng quote, was blunt: “The end of CUDA’s moat is approaching. The ecosystem problem for Chinese chips could be solved within a year. The only real bottleneck left is production itself.” He added he was “Very bearish on NVDA.”
A Balanced View: The Gap Is Still Real Even the leaked remarks concede NVIDIA’s lead. It reportedly takes roughly four Huawei cards to match one NVIDIA card, with Huawei described as about two years behind. Porting an unproven software stack across ecosystems is genuinely hard.
The fundamentals reinforce that. NVIDIA’s Data Center revenue hit $75.25 billion, up 92%, non-GAAP EPS came in at $1.87 versus the $1.77 estimate, and management disclosed $119 billion in supply-related commitments alongside an $80 billion buyback authorization. NVIDIA stock carries a trailing P/E ratio of 32x, and because earnings are compounding so quickly, the forward multiple looks meaningfully lower.
Analyst sentiment on NVDA remains overwhelmingly bullish: 58 Buys, 2 Holds, and 1 Sell. That lopsided tally underscores how far Wall Street’s consensus sits from the CUDA-erosion thesis outlined above.
Earnings Preview: August 26 NVIDIA reports its fiscal Q2 2027 results on August 26 after the close. NVIDIA’s guidance calls for revenue of $91 billion plus or minus 2% with non-GAAP gross margin of 75%, and it explicitly excludes any Data Center compute revenue from China, meaning China weakness is already priced into the outlook.
Investors can watch for Data Center growth, the Blackwell and Vera Rubin ramp, gross margin durability, and any direct commentary from Huang addressing the CUDA-moat narrative. The CUDA erosion thesis is a real multi-year risk resting on unverified claims, set against a company still growing at extraordinary rates. That tension, and not just a single verdict, is what NVIDIA shareholders need to sit with.
As the artificial intelligence revolution matures in 2026, many investors are weighing high-performance hardware against specialized automation software. Choosing between NVIDIA (NVDA -1.56%) and UiPath (PATH -4.63%) requires balancing pure computing power with workplace efficiency.
NVIDIA provides the essential infrastructure for modern computing, while UiPath develops the AI software robots that execute complex business tasks. Both companies are central to the global technology landscape, offering different ways to gain exposure to the ongoing shift toward automated enterprise intelligence.
The case for NVIDIANVIDIA designs accelerated computing infrastructure, primarily focused on graphics processing units (GPUs) and AI systems for training large models. The company occupies a unique position among tech stocks due to its role in building the foundation of artificial intelligence. It serves massive markets like healthcare, though two customers accounted for 36% of total revenue in fiscal year (FY) 2026, which adds a layer of risk to the business.
In FY 2026, revenue reached $215.9 billion, representing growth of 65.5% over the prior year. This expansion led to substantial profitability, with the company reporting net income of $120.1 billion. The net margin, which measures how much profit a company keeps from every dollar of sales, remained high at 55.6%.
As of its January 2026 balance sheet, the debt-to-equity ratio is 0.1x. This ratio compares total debt to shareholder equity, with a lower number suggesting a lighter debt load. Free cash flow reached $96.7 billion for the year, and the current ratio stands at 3.9x.
The case for UiPathUiPath provides an integrated automation platform that uses AI agents and software robots to streamline business workflows across financial and healthcare sectors. The company relies on enterprise sales, with its top 10% of customers representing a substantial portion of total revenue. Recent efforts include a three-year deal with The Very Group.
In FY 2026, revenue reached $1.6 billion, indicating a growth rate of 12.7% compared to the previous year. The company reported net income of $282.3 million as it successfully transitioned to profitability. This resulted in a net margin of 17.5% for the fiscal year.
As of its January 2026 balance sheet, the debt-to-equity ratio is zero and the current ratio is 2.5x. Free cash flow for the year was $352.2 million. Note that stock-based compensation (SBC) represented 78.3% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
Risk profile comparisonNVIDIA faces strict U.S. export controls on advanced chips that significantly limit access to major markets. The company also deals with manufacturing concentration because it depends on third-party foundries such as Taiwan Semiconductor Manufacturing. Furthermore, an ongoing lawsuit regarding cryptocurrency revenue, and rapid technological change keep the pressure on its market share.
UiPath faces intense competition from established enterprise platform vendors such as Microsoft. The company relies heavily on its single automation platform, making it vulnerable to shifts toward native AI solutions. Scaling complexity and strict global privacy regulations, such as the EU AI Act, also pose potential operational and legal challenges.
Valuation comparisonWhile NVIDIA continues to command a significant premium due to its dominant market position, UiPath offers a lower entry point based on sales multiples.
MetricNVIDIAUiPathForward P/E23.0x15.4xP/S ratio23.3x4.0xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Both NVIDIA and UiPath have benefited from the rise of artificial intelligence, as demonstrated by their double-digit year-over-year sales growth. However, NVIDIA’s consistent success has resulted in Wall Street harboring sky-high expectations for the company.
This means it takes near-flawless execution to meaningfully move the needle on NVIDIA’s stock price these days. For instance, the company announced on July 16 that it was working with the Japanese government to establish the world’s first national infrastructure for AI, but the news did little to the share price.
UiPath faces the opposite problem. Wall Street is skeptical the company’s AI automation products will prove successful over the long run as competition heats up. Consequently, its stock fell to a 52-week low of $9.20 in May and has struggled to rebound.
That said, UiPath’s sales growth and transition to profitability show it is capturing customers and effectively managing its financial health. Given UiPath’s lower share price valuation, it certainly looks like a compelling investment. But the risk is that customer adoption of its automation tools may plateau at some point.
Meanwhile, NVIDIA’s leadership in the AI sector is unmatched, and its financial strength is impressive. It continues to evolve its technology to keep pace with competitors, and is now investing in quantum computing. These factors make it the better long-term investment.
Key Takeaways Sandisk expects higher Q4 FY2026 revenues as AI memory demand and pricing remain strong. Sandisk projects higher Q4 non-GAAP EPS, supported by multi-year customer agreements. Sandisk forecasts exceptional earnings growth, backed by AI-driven demand and bullish analyst targets. The rise of artificial intelligence (AI) has transformed NVIDIA Corporation (NVDA - Free Report) into the world’s most valuable company, with its stock hitting record highs. Incessant demand for its cutting-edge chips and CUDA software platform has fueled exceptional growth, with the company consistently beating quarterly expectations.
Despite these strong fundamentals, NVIDIA’s gains have been muted this year, up only 10.9%, reflecting already high investor expectations. Given the company’s massive scale, concerns have emerged about its ability to sustain rapid growth. At the same time, the possibility of a slowdown in AI spending by hyperscale cloud providers, growing competition from peers, and tighter U.S. export restrictions on advanced chips to China could weigh on NVIDIA’s future profit margins, even as AI chip demand remains strong.
Some investors may now feel that they have missed NVIDIA’s remarkable rally. However, they should search for opportunities elsewhere in the AI ecosystem. They may currently consider memory chipmaker Sandisk Corporation (SNDK - Free Report) , whose shares have soared 573.7% year to date and appear well positioned for further gains. Let’s explore why Sandisk could be the next big winner –
Sandisk: A Potential AI Memory Leader Poised for Breakout Growth Surging demand for Sandisk’s AI-related memory solutions and a tight supply environment fueled strong pricing power and bolstered the company’s growth prospects.
Sandisk has now become the market’s most compelling AI memory play, with its revenues coming in at $5.95 billion in the fiscal third quarter of 2026, a 97% sequential rise and well above its own guidance, according to investor.sandisk.com. Looking ahead, Sandisk expects revenues of $7.75 billion to $8.25 billion for the fiscal fourth quarter of 2026. The guidance indicates another quarter of robust revenue growth as the company deepens its presence among high-value customers in the rapidly growing data center market.
Additionally, Sandisk has strengthened customer retention, improved revenue visibility, and enhanced long-term cash flow predictability through its strategic multi-year New Business Model agreements. Meanwhile, profitability is improving, with the company projecting non-GAAP earnings per share (EPS) of $30-$33 in the fiscal fourth quarter, up from $23.41 reported in the fiscal third quarter, indicating sustained sequential earnings momentum.
Therefore, Sandisk is emerging as a potential long-term winner in the AI memory market, banking on robust AI-driven memory demand, improving profitability, and long-term customer agreements. CEO of Sandisk, David Goeckeler, also expressed confidence in the company’s outlook, stating, “With a zero-debt balance sheet, strong cash generation, and a recently authorized share repurchase program, we are positioned to deliver substantial long-term value creation for our shareholders.”
Consequently, the company’s expected earnings growth rate for the current year is an exceptional 2,111%. The Zacks Consensus Estimate of $66.11 for SNDK’s EPS is up 1059.8% year over year.
Image Source: Zacks Investment Research
Brokers also remain bullish on Sandisk’s growth, estimating an average short-term price target for SNDK stock at $2,380.47, indicating a 49.8% increase from the last closing price of $1,589.40. The highest target is $3,250, suggesting a potential upside of 104.5%.
Image Source: Zacks Investment Research
Sandisk currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
TEMPE, Ariz.--(BUSINESS WIRE)---- $AMKR #AdvancingWhatsNext--Amkor Technology, Inc. (Nasdaq: AMKR) today announced a multi-year strategic partnership with NVIDIA to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms. Under the agreement, NVIDIA will provide a prepayment to support the expansion of Amkor's U.S. advanced packaging capacity.Advanced packaging enables the performance, energy efficiency and system-level integration required for AI infrastructu.
Visa and Airwallex are joining forces to develop embedded-finance solutions for freight and shipping platforms.
The collaboration, announced Thursday (July 23) is designed to modernize the way businesses in these sectors manage payments working capital and cross-border commerce.
“Freight and shipping are fundamental to the global economy, yet many businesses continue to operate with payment processes that are fragmented, manual and inefficient,” Alessandro Figueroa, head of new verticals and partnerships for Visa Commercial Solutions in Europe, said in a news release.
“As digital freight platforms continue to scale, there is a growing need for financial solutions that can be embedded seamlessly into existing workflows without creating additional complexity. By combining Visa’s commercial payments expertise with Airwallex’s technology platform, we’re helping bring new solutions to market quickly, enabling platforms to simplify payments, improve working capital and deliver greater value to the businesses they serve.”
According to the release, the partnership will focus on solutions built for the “realities of freight and shipping,” with the goal of letting platforms embed payment and financial capabilities into freight workflows, helping customers access working capital and move funds more efficiently.
“Cash sitting in limbo while payments clear across borders is capital that should be funding the next shipment, not stuck in transit,” said Christos Chamberlain, general manager for U.K. and Europe at Airwallex.
“Reputations are built on reliability – can you get the container there, on time, every time. Payments need to work the same way.”
The partnership is happening as many businesses are increasing their investment in embedded finance solutions, according to the recent PYMNTS Intelligence and Green Dot collaboration “The Embedded Finance Scale Factor: How Firm Size Shapes Strategy, Technology and Partnership Decisions.”
The decision to invest, however, is increasingly determined by size, with nearly 79% of companies with annual revenue between $250 million and $1 billion — middle market firms — saying they planned to upgrade their embedded finance capabilities in the next 12 months.
That’s compared to the 63% of businesses generating more than $1 billion in yearly revenue who expect to make similar upgrades.
“That enthusiasm reflects a broader reality,” PYMNTS wrote last month. “Many middle market firms have moved beyond experimenting with embedded payments and lending tools but have not yet reached the scale where operating models, governance structures and technology strategies are fully settled. As a result, they face difficult decisions about whether to continue building capabilities internally or consolidate around outside partners.”
Overlapping summer sale events from Amazon and Walmart nearly saturated the adult U.S. market, but average spending fell sharply at both retailers, showing that a bigger audience can still produce smaller baskets and weaker economics.
Deal-week competition is turning loyalty into price arbitrage. With shoppers moving fluidly between Amazon and Walmart, comparing offers in real time and choosing largely on price, promotional events increasingly reward the lowest offer rather than the strongest retail relationship.
AI is beginning to control the path to purchase. As shoppers use assistants to research, compare and recommend products before entering a retailer’s ecosystem, Amazon and Walmart risk losing influence over discovery, even when they ultimately win the transaction.
This summer, Amazon moved Prime Day to June 23-26, leaving July without its usual commercial centerpiece for the first time outside the pandemic-disrupted 2021 event.
The shift created an apparent hole in merchants’ calendars. What emerged instead was a clearer view of how large-scale shopping events are changing. Prime Day still generated extraordinary demand, but the combination of Amazon’s earlier timing, its direct overlap with Walmart Deals and a subsequent July slowdown suggests retailers are no longer competing simply to produce the biggest sales day. They are competing to control a longer, more fragmented cycle of consumer attention.
An estimated 244 million U.S. consumers, or 93% of adults, shopped at least one of the events, up from 135 million the previous year. The share participating in neither promotion collapsed from 48% to 7%, according to a PYMNTS Intelligence survey of 2,160 consumers conducted in June.
But the larger crowd came with a catch: Shoppers spent less. The survey found average spending at Amazon fell from $360 in 2025 to $308, while Walmart’s average dropped from $484 to $326. The overlap expanded the top of the funnel while compressing the value of each customer moving through it.
That trade-off offers a preview of the next phase of promotional retail. The biggest shopping events may attract more people than ever, but they are also becoming less capable of concentrating consumer spending in one place.
See also: Amazon and Walmart’s Summer Sale Wars Deliver a Win (With An Asterisk)
Retail Loyalty Gives Way to Comparison Shopping Running competing events simultaneously also made it easier for consumers to treat Amazon and Walmart as interchangeable deal inventories. Nearly three-quarters of dual-event participants compared prices across Amazon and Walmart, the survey found, and 46% said price alone determined where they completed a purchase. Loyalty was the deciding factor for just 15%.
The overlap therefore produced not only a bigger market but a more efficient one, at least from the consumer’s perspective. Shoppers could check the same television, appliance or household item on multiple platforms in real time, reducing retailers’ ability to use the event’s scale and urgency to soften price sensitivity.
Artificial intelligence (AI) added another comparison layer. Twenty-one percent of event participants used an AI assistant to research products, locate deals or compare prices. Nearly three-quarters of those users bought at least one product primarily because an AI tool recommended it.
Also from PYMNTS: PYMNTS covered Thursday (July 23) how Amazon’s founder Jeff Bezos reportedly sees Prime Video as the place to tout the company’s AI efforts and has urged Prime Video boss Mike Hopkins to revamp the streaming service to give AI a starring role.
Without another July promotional sprint, consumer retail brands have shifted their attention toward back-to-school campaigns, fourth-quarter inventory forecasts, advertising allocations and final holiday shipments.
The result is a retail calendar that looks less like a series of isolated events and more like a continuous demand-management system. Winning within it requires merchants to distinguish between reach and profitability, participation and loyalty, promotional velocity and durable growth.
Read the report: The Overlap Effect: How Amazon and Walmart Expanded the Crowd and Shrank the Basket
AI Moves Upstream of the Retailer The more disruptive competitive pressure may come from outside both companies. More than one in five event shoppers used an AI chatbot or assistant to compare products, locate deals or research purchases, a rate that climbed to 35% among Generation Z.
That behavior moves an important part of product discovery upstream from the retailer. Instead of beginning a search inside Amazon or Walmart, shoppers can ask an independent interface to evaluate prices, features and reviews across multiple merchants before directing them toward a checkout page.
At the same time, the survey found that consumers expect major retailers to coordinate their discounting around the same shopping windows, just as they expect competitive shipping, accessible reviews and transparent pricing. What once distinguished a retailer can quickly become a market-wide condition.
That raises the strategic stakes. Attracting more shoppers is no longer sufficient when those shoppers are spending less, comparing more and arriving with recommendations generated outside the retailer’s ecosystem.
Ford is planning to integrate Apple software into its next-generation fleet of electric vehicles, which will, in turn, help power hands-free driving technology.
Apple and Ford announced Thursday that Apple Maps will be included in the automakers' new Universal Electric Vehicle (UEV) platform through the use of Apple's MapKit for Automotive SDK. Ford's UEV will debut with a midsize electric in 2027, and buyers won't need a separate Apple subscription to use the software in the vehicle.
The UEV will harness that tech to give drivers turn-by-turn directions with the use of natural language, giving them real-time traffic and incident information, as well as a search function that uses detailed place cards and routing options.
The partnership will also see Ford use road-level data from Apple Maps in the development of the company's next-generation BlueCruise hands-free driving capability, as well as its in-house autonomous driving tech.
APPLE RAISES PRICES ON SOME STREAMING SERVICES AS LICENSING COSTS CLIMB
Ford's partnership with Apple comes amid a push to improve self-driving technology. (Calla Kessler/The Washington Post via Getty Images)
Apple's MapKit for Automotive SDK provides road-level information to help automakers develop self-driving technologies, and the company said the tool uses the same privacy practices as Apple Maps, noting that it doesn't collect users' location details and activity in a way that can be linked to the individual user.
"Apple Maps delivers the best map experience in the world, and we’re excited to bring the power of Maps’ navigation technology to Ford’s innovative Universal Electric Vehicle Platform," said Eddy Cue, Apple’s SVP of services and health.
"With our new MapKit for Automotive SDK, we’re bringing Maps further into drivers’ daily lives, giving them an incredibly accurate and easy-to-use navigation system that is seamlessly integrated into Ford vehicles."
FORD REHIRES EXPERIENCED ENGINEERS AFTER AI MISSES THE MARK
Apple's partnership with Ford includes Apple Maps and data that will help inform self-driving tech. (Wirestock / Getty Images)
Ford CEO Jim Farley said the company's next midsize EV will be priced around $30,000 and "redefines what advanced technology can be – simple, useful and truly attainable for more customers."
"We're proud to embed Apple Maps' navigation and mapping technology directly into our Universal Electric Vehicle Platform alongside our Ford app, a full suite of software and next-generation BlueCruise, all enabled by a new zonal architecture," Farley said.
"Apple Maps has delivered a world-class product, and we're honored to be among the first to embed it directly into a vehicle, helping define intuitive, capable driving."
APPLE TO INVEST $30 BILLION IN US CHIP MANUFACTURING
Ticker Security Last Change Change % AAPL APPLE INC. 321.66 -4.23 -1.30% F FORD MOTOR CO. 14.14 -0.26 -1.80% Latitude AI, Ford's wholly owned subsidiary focused on autonomous driving, is developing the company's in-house advanced driving system. The Ford Large Driving Model supports a range of self-driving capabilities and has been derived from millions of miles of real-world driving data, the company said.
Ford and Latitude are designing both the hardware and software to be easily scalable across the automaker's lineup of vehicles.
The company indicated that work "is vital to Ford and Latitude's mission of democratizing autonomy and delivering a compelling experience at an attainable price point on the UEV Platform."
Ford announced the partnership with Apple ahead of the rollout of its Universal Electric Vehicle Platform next year. (Jeff Kowalsky/Bloomberg via Getty Images / Getty Images)
Apple Maps will be integrated into some upcoming Ford electric vehicles, the companies said Thursday (July 23).
The integration of Apple Maps into Ford’s upcoming Universal Electric Vehicle Platform (UEV Platform) will be done through Apple’s new MapKit for Automotive SDK, which enables automakers to embed and customize Apple Maps, Apple said in a press release.
When it appears in Ford’s UEV Platform in 2027, the integration will deliver the Apple Maps-powered navigation experience through the vehicle’s displays. The experience will include turn-by-turn directions using natural language, real-time traffic and incident information, intuitive search and routing options, according to the release.
In addition, Ford will use Apple Maps information to build a hands-free driving experience, per the release.
“With our new MapKit for Automotive SDK, we’re bringing Maps further into drivers’ daily lives, giving them an incredibly accurate and easy-to-use navigation system that is seamlessly integrated into Ford vehicles,” Eddy Cue, senior vice president of Services and Health at Apple, said in the release.
In its own Thursday press release about the integration, Ford said that it will be among the first automakers to embed Apple Maps into a vehicle.
Ford’s Universal Electric Vehicle Platform will underpin a family of more affordable electric vehicles that will be priced around $30,000 and will start reaching the market in 2027, with a mid-size electric truck leading the way, according to Ford’s website about the platform.
The automaker will also use Apple Maps’ road-level information to help develop its next-generation BlueCruise hands-free highway driving capability. Ford’s wholly owned subsidiary focused on autonomy, Latitude AI, is developing a Ford Large Driving Model that supports a range of self-driving capabilities, according to the release.
“Apple Maps has delivered a world-class product, and we’re honored to be among the first to embed it directly into a vehicle, helping define intuitive, capable driving,” Ford Motor Company CEO Jim Farley said in the release.
It was reported in February that Apple was preparing to allow other companies’ voice-controlled artificial intelligence chatbots to operate within its vehicle interface, CarPlay. At the time, the company allowed only its own assistant, Siri, as a voice-control option in CarPlay.
NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of investors in BlackRock, Inc. (NYSE: BLK) mutual funds, resulting from allegations that BlackRock may have issued materially misleading business information to the investing public.
Intel Corp (NASDAQ:INTC, XETRA:INL) shares jumped nearly 11% in after-hours trading after the chipmaker reported second quarter results that exceeded Wall Street expectations, driven by stronger demand across its data center and client computing businesses and a better-than-expected outlook for the third quarter.
The company reported second quarter revenue of $16.1 billion, up 25% from a year earlier and above analyst expectations of $14.43 billion.
Adjusted earnings per share came in at $0.42, compared with consensus estimates of $0.21 per share.
Intel’s Data Center and AI segment generated $6.3 billion in revenue during the quarter, topping analyst expectations of $5.54 billion and rising 59% year over year. The Client Computing and Physical AI Group reported revenue of $8.9 billion, up 13% year over year and ahead of estimates of $7.99 billion.
Intel forecast third quarter revenue of $15.8 billion to $16.8 billion, above Wall Street expectations of $15.1 billion.
The company expects adjusted earnings per share of $0.38, compared with analyst estimates of $0.27.
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” Intel CEO Lip-Bu Tan said in a statement.
“Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.”
Intel CFO Dave Zinsner wrote that the company delivered a strong quarter “on robust demand and improved execution,” including higher factory yields and improved cycle times.
He added that AI-driven compute demand continues to strengthen and that Intel is increasing investments in equipment, clean room space and substrates to support expected growth.
Live Coverage Updates appear automatically as they are published.
Live Updates Pinned 3 hours ago
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This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. You’ll get expert analysis of Intel’s earnings.
Simply stay on this page, and new updates will appear below automatically. We expect Intel to release earnings shortly after 4:00 p.m. ET.
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That wraps up our initial coverage of Intel’s Q2 results. Thank you for stopping by!
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The 25% top-line surge skewed sharply by segment:
Data Center and AI (DCAI) did the heavy lifting, delivering $6.26 billion at +59% YoY, a sharp acceleration from Q1’s +22% and Q3 2025’s -1%.
Client Computing Group added $8.88 billion (+13%) on the Panther Lake ramp, while Intel Foundry hit $5.76 billion (+31%) yet still bled ~$2.1 billion in quarterly operating losses.
Every segment beat the trajectory implied by prior guidance. DCAI’s $5.5B Polymarket threshold was cleared decisively, validating the AI-CPU thesis. Foundry topline strength helped to offset the segment’s cash burn as capex climbs to $20 billion.
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Guidance Bombshell: Intel Blows Past the Q3 Bar The forward guidance is what turned tonight’s report from a beat into a re-rating event.
Management set Q3 revenue guidance at $15.8 billion to $16.8 billion, above the $15.10 billion Street consensus even at the low end. Adjusted EPS guidance of $0.38 crushed the $0.27 consensus.
The bigger surprise: CFO David Zinsner lifted the 2026 capex plan from $18 billion to $20 billion, with 2027 spending expected to rise “meaningfully.” That signals customer commitments behind Intel 18A are firming, addressing the 47.5% backlog question prediction markets flagged pre-call.
Key assumptions: sustained DCAI momentum off Q1’s 22% YoY growth, Foundry ramp, and AI inference demand. With shares near $100.18, the raise validates the 341.57% one-year run.
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Does a 12% Pop Match This Beat? Intel (NASDAQ:INTC | INTC Price Prediction) shares jumped 12% after clearing every line: revenue of $16.13 billion vs. $14.42 billion expected, EPS of $0.42 vs. $0.21, and Q3 revenue guidance of $15.8 billion to $16.8 billion against a $15.10 billion consensus.
The magnitude of the beat justifies enthusiasm, yet the reaction looks restrained compared to Q1 2026, when a similarly outsized surprise triggered a 23.6% day-of move.
Two factors may explain why this response was a bit smaller than Q1:
Valuation near 94x forward earnings leaves less room for multiple expansion Shares already priced in a beat, with Polymarket at 99.95% odds pre-release. After a 341.57% one-year run, a 12% pop is still substantial for Intel.
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With Q2 revenue of $16.13 billion and adjusted EPS of $0.42 crushing estimates, here is how the pre-earnings bear thesis holds up.
Foundry losses: Top-line traction confirmed, yet segment profitability still unproven with CapEx rising to $20 billion. AI/server share: Blunted. DCAI grew 22% YoY in Q1, aided by NVIDIA and Google partnerships. Intel 18A execution: Busted. Panther Lake shipped on 18A across 200+ OEM designs. GAAP losses/dilution: Validated. Q1 GAAP net loss was $3.73 billion. Bears will argue rising CapEx delays free cash flow and that insider selling near $118.28 signals caution.
Bulls counter with a 41.8% gross margin and a Q3 guidance well above consensus.
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Intel just reported Q2 earnings, with shares initially jumping 5% following the report. Here are the key numbers:
Revenue: $16.13 billion vs. $14.42 billion expected Adjusted EPS: $0.42 vs. $0.21 expected Non-GAAP gross margin: 41.8% vs. 38.76% expected Guidance:
Q3 revenue: $15.8 billion to $16.8 billion vs. $15.10 billion expected Adjusted EPS: $0.38 vs. $0.27 expected Intel crushed expectations across revenue, earnings, margins, and forward guidance.
CFO David Zinsner also said the company is raising its 2026 capital-spending plan from $18 billion to $20 billion, with 2027 CapEx expected to increase “meaningfully.”
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Final Hour Positioning Into the 4 PM Bell With the earnings release moments away, consensus sits at $0.2166 EPS on $14.45 billion in revenue. Intel (NASDAQ:INTC) is trading near $99.83 after a 6.89-point intraday swing, with sellers pressing lows into the close.
KPI Thresholds That Will Move the Stock DCAI revenue: Polymarket assigns 82.5% odds above $5.5B; a print under $5.3B would rattle the AI-CPU thesis. Foundry revenue: 91.5% odds above $5.0B, with upside if 18A yields surprise. Non-GAAP gross margin: 40%–42% is the modal outcome at 43% probability. Options flow leans bullish at a 0.71 put-call ratio on Friday expiries, and insiders logged 47 net-buying transactions recently.
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Wall Street expects Intel to report approximately $14.5 billion in Q2 revenue, representing roughly 12% year-over-year growth. That would mark a solid recovery, but it pales next to the growth rates expected from many AI-driven semiconductor peers.
Advanced Micro Devices and Marvell are expected to grow revenue by more than 40% this year, while Analog Devices and Taiwan Semiconductor are projected to expand by 30% to 40%.
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Analysts expect Intel to report Q2 EPS of $0.22, marking a significant improvement from the loss recorded one year earlier. The company has beaten Wall Street’s EPS consensus in three of the past four quarters, suggesting another upside surprise is possible tonight.
Longer-term expectations remain less certain. Intel’s projected 2026 EPS has fallen from approximately $6 several years ago to just $1.11 today, while its 2027 estimate has dropped from above $4 to below $2.
Investors will be looking to see whether Intel’s latest margin recovery is durable rather than another turnaround that falls short of expectations.
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Intel enters tonight’s Q2 earnings report trading at roughly 94 times forward earnings.
That makes Intel considerably more expensive than faster-growing semiconductor leaders such as Nvidia, Broadcom, Taiwan Semiconductor, and Micron, which trade between roughly 13 and 33 times expected earnings.
The valuation reflects enormous confidence that Intel can restore its margins and accelerate growth. Anything short of a clean earnings beat and confident guidance could challenge that optimism.
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With Intel stock hovering near $100.40 and a 341.57% one-year run, both sides have ammunition.
Bull Case Polymarket assigns a 95.5% probability Intel (NASDAQ:INTC) beats, backed by six consecutive quarters of revenue upside. DCAI surged 22% YoY and Foundry 16% last quarter, with Intel 18A now in high-volume manufacturing. Anchor partnerships with Google, NVIDIA (NASDAQ:NVDA) ($5.0 billion stake) and SoftBank ($2.0 billion) validate the turnaround. Bear Case Foundry posted a $2.51 billion Q4 operating loss; Q1 free cash flow was -$3.87 billion. Q2 non-GAAP EPS guide of $0.20 steps down from Q1’s $0.29. Analysts skew cautious: 32 Hold versus 13 Buy, with just 9.12% implied upside. Shares already slid 27.19% over the past month, signaling fragile positioning. 1 hour ago
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What Wall Street Really Wants Tonight Tonight, investors are waiting for Intel’s guidance moreso than Q2 results. Consensus sits at $14.45 billion in revenue against management’s prior guide of $13.8 to $14.8 billion, and CFO David Zinsner has telegraphed that “supply will go up in the second quarter. It is going to go up every quarter now going forward.”
Management guides conservatively, then beats. Intel (NASDAQ:INTC) has strung together six consecutive quarters of exceeding expectations.
Bullish scenario: Q3 revenue above $14.8B, non-GAAP gross margin holding 40%+, DCAI growth accelerating past 22%, and foundry losses narrowing from Q1’s $2.4 billion.
Bearish scenario: Revenue guide below $14B, margin under 38%, or any hint of a 14A pause. With shares near $99.66, guidance moves this stock more than the beat itself.
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Intel enters tonight’s Q2 earnings report with expectations running high after a blowout first quarter.
Management previously guided for revenue of $13.8 billion to $14.8 billion and non-GAAP EPS of $0.20, while Polymarket traders currently assign a 94.5% probability that Intel beats the EPS consensus.
The bigger question is what comes next. Intel’s red-hot rally from the low $20s one year ago to just below $100 today leaves little room for disappointing guidance.
A confident Q3 outlook could validate enthusiasm surrounding the Intel 18A ramp, the foundry customer pipeline, and the government’s stake in the company. However, a soft forecast could quickly revive concerns about foundry profitability, capital-spending discipline, and Intel’s negative free cash flow.
Intel (NASDAQ:INTC) reports Q2 FY2026 at 4:00 PM ET after the bell today, with the earnings call scheduled for 5:00 PM ET. Shares trade around $100.98, up 178.1% year-to-date and 327.42% in the past year but down 27.19% over the past month.
Momentum Meets Reset Fatigue Q1 delivered a sixth consecutive revenue beat. Revenue reached $13.577 billion, up 7.18% YoY and ahead of the $12.43 billion consensus. Non-GAAP EPS of $0.29 demolished the $0.0127 estimate.
Non-GAAP gross margin expanded to 41.0% from 39.2%. Data Center and AI revenue climbed 22% YoY to $5.052 billion, and Intel Foundry rose 16% to $5.421 billion. A $4.07 billion Mobileye impairment drove the GAAP net loss of -$3.728 billion. Shares peaked near $119.84 within 30 days before fading into today’s report.
Consensus Estimates and Guidance Metric Q2 2026 Guide Q1 2026 Actual FY26 OpEx Target Revenue $13.8B to $14.8B $13.577B N/A Non-GAAP EPS $0.20 $0.29 N/A Non-GAAP Gross Margin ~39.0% 41.0% N/A Non-GAAP OpEx N/A N/A ~$16.5B Analysts’ estimates imply the business will see modest sequential margin compression and softer EPS compared to Q1, even at the high end of the revenue range. That reflects lower prior-quarter inventory tailwinds and early Intel 18A ramp costs weighing on the revenue mix.
Foundry Math and AI Attach Take Center Stage Tonight, I’ll be watching Intel Foundry’s operating loss trajectory closely. Prior quarters ran at $2.51B, $2.3B, and $3.2B in losses through late FY25, so any narrowing could signal that Intel 18A is pulling through. Polymarket assigns 90.5% odds that Foundry revenue clears $5B, but only 65% for $5.5B.
DCAI cadence is another focal point. Management flagged double-digit sequential growth tied to supply, pricing, and utilization. Traders price 82.5% odds of exceeding $5.5B. Lip-Bu Tan’s positioning around agentic AI matters here. He told investors last quarter that “The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic.”
I’ll also track any product and partnership updates, such as the NVIDIA DGX Rubin NVL8 Xeon 6-socket, the Google Xeon and custom IPU partnership, and Panther Lake OEM design momentum.
Earnings History Quarter EPS Surprise Day-Of Move 1-Week Move 30-Day Move Q1 2026 +2,183.46% +23.6% +20.69% +47.53% Q4 2025 +80.72% -17.03% +3.11% +4.02% Q3 2025 +3,050.68% +0.31% +4.47% -6.4% Q2 2025 -1,175.27% -8.53% -6.71% +17.63% On average, shares moved +4.88% seven days after earnings over the past year.
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Characteristics and Risks of Standardized Options: https://bit.ly/2v9tH6D. Intel's (INTC) earnings bar got slightly lowered following sharp selling action on Alphabet's (GOOGL) and Tesla's (TSLA) reports.
Intel reported better-than-expected second-quarter results on Thursday, notching its fastest revenue growth rate for any quarter since 2011 and issuing guidance that topped expectations. The stock jumped 11% in extended trading.
Here's how the chipmaker did versus LSEG consensus estimates
Earnings per share: 42 cents, adjusted, versus 21 cents expectedRevenue: $16.1 billion, versus $14.42 billion expectedIntel shares are up over 170% so far in 2026 as of Thursday's close after soaring 84% last year, when the U.S. government took a 10% stake in the company as part of an effort to support U.S. chip manufacturing. However, the stock has been in a slump more recently, dropping 28% in July.
Despite the recent downturn, the company is getting a boost from the artificial intelligence infrastructure boom, which is helping sales of its server processors. Intel's 25% revenue growth was the fastest for any quarter since the third quarter of 2011.
"AI is driving unprecedented demand for compute," CEO Lip-Bu Tan said in the statement. "As we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise."
For the current quarter, Intel said it expects adjusted earnings per share of 38 cents on revenue between $15.8 billion and $16.8 billion. Analysts were expecting revenue of $15.1 billion and EPS of 27 cents, according to LSEG.
Intel also said it is starting to craft long-term agreements with customers for its server CPUs, some with pricing locked in and others focused on chip volume.
It's a move that's becoming common, particularly in memory, as vendors try to preserve current high pricing and market power in case the AI market turns. Intel said it had reached 10 long-term agreements, and Zinsner said the company is supply constrained, with data center customers demanding more than it can produce.
Revenue in the company's client computing group, which makes chips for PCs, rose 13% to $8.9 billion. It's still Intel's biggest unit, but the robust growth is coming from its data center business, where revenue rose 59% to $6.3 billion. Intel said it expects flat PC sales in the third quarter because of the memory shortage.
Intel is boosting its capital expenditures, targeting a "meaningful increase" next year, as it aggressively tries to morph into a manufacturer of chips for other companies. CFO David Zinsner told CNBC's Kristina Partsinevelos that the company's latest manufacturing process, called 14A, is ahead of where older technologies were at the same point in the cycle. Intel said its foundry reported $5.8 billion in sales, up 31% on an annual basis.
Still, Intel did not reveal a major customer for its foundry, as investors and potential customers keep waiting. It primarily manufactures its own chips. Intel's foundry landed Fortinet as its first named customer under Tan earlier this week, but it's using an older manufacturing technology to make security chips.
Intel's gross margin also recovered to 42%, up from 2.5% in the year-ago period, which the company attributed to benefits of scale with more revenue, as well as selling chips with higher margins and pricing.
Intel (INTC) shares have climbed more than 300% over the last 12 months but have fallen 30% from record highs less than a month ago as of Thursday's close. After hours, the legacy tech firm showed AI strength with stronger-than-expected earnings and guidance that surged past Wall Street's estimates.
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Intel Corp (NASDAQ:INTC, XETRA:INL) shares jumped nearly 11% in after-hours trading after the chipmaker reported second quarter results that exceeded Wall Street expectations, driven by stronger demand across its data center and client computing businesses and a better-than-expected outlook for the third quarter.
The company reported second quarter revenue of $16.1 billion, up 25% from a year earlier and above analyst expectations of $14.43 billion.
Adjusted earnings per share came in at $0.42, compared with consensus estimates of $0.21 per share.
Intel’s Data Center and AI segment generated $6.3 billion in revenue during the quarter, topping analyst expectations of $5.54 billion and rising 59% year over year. The Client Computing and Physical AI Group reported revenue of $8.9 billion, up 13% year over year and ahead of estimates of $7.99 billion.
Intel forecast third quarter revenue of $15.8 billion to $16.8 billion, above Wall Street expectations of $15.1 billion.
The company expects adjusted earnings per share of $0.38, compared with analyst estimates of $0.27.
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” Intel CEO Lip-Bu Tan said in a statement.
“Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.”
Intel CFO Dave Zinsner wrote that the company delivered a strong quarter “on robust demand and improved execution,” including higher factory yields and improved cycle times.
He added that AI-driven compute demand continues to strengthen and that Intel is increasing investments in equipment, clean room space and substrates to support expected growth.
Intel stock jumped in the extended hours as the company published strong financial results and boosted its forward guidance. INTC soared to $110, a significant increase from this month’s low of $89.65. What next for these shares?
INTC shares jumped after the semiconductor giant published strong financial results, helped by its data center business.
Its revenue jumped by 25% in the second quarter to $16.1 billion, with its gross margin soaring to 40.45 as chip prices jumped.
Lip-Bu Tan, the CEO hailed the results as the strongest revenue growth in over 15 years, driven by its CPUs, ASICs, and advanced packaging. In a statement, Dave Zinsner, the CFO said:
“AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates.”
Most importantly, the management expects that the business will continue growing in the near term, helped by the unprecedented demand for its products.
The management expects that its revenue in the current quarter will jump to between $15.8 billion and $16.7 billion. This is a bigger number than the average revenue estimate of $15.1 billion. It also expects that its earnings-per-share (EPS) will be 31 cents, also higher than the expected 28 cents.
READ MORE: Intel stock earnings could expose the fault line beneath its AI comeback
These numbers mean that the company’s turnaround strategy is working, which may push analysts to upgrade it. Analysts are already highly bullish on the company, with UBS and Susquehanna having a target of $115. KeyCorp has a target of $155, while Stifel has $120.
These developments come after the company made some major strides in the past two years. It replaced its CEO, raised capital, including from Nvidia and the US government, and made more announcements.
For example, it recently announced a large deal with Apollo Global to acquire its remaining stake in its Irish fabrication company. It also inked a major deal with Tesla and SpaceX to participate in the Terafab project. Most recently, it announced a deal that will see it manufacture chips for Apple, the second-biggest company in the world.
At the same time, the company has become a major player in the growing AI agent industry.
Intel stock chart | Source: TradingView
The daily chart reveals that the INTC stock has rebounded from a low of $89.68 to over $110 today. It has moved above the important resistance level of $100, its lowest level on June 5.
The stock sits above the 100-day Exponential Moving Average (EMA). It also jumped above the Major S/R pivot point of the Murrey Math Lines tool.
Therefore, these results mean that the stock may continue rising in the near term as bulls target the key resistance at $150. This target coincides with the ultimate resistance of the Murrey Math Lines tool.
Intel Corp. surged in late trading after the chipmaker's revenue forecast shattered estimates, indicating that booming data center spending is helping fuel a long-awaited turnaround. Bloomberg's Ed Ludlow spoke to CEO Lip-Bu Tan who said demand is outpacing the current supply.
Key Takeaways FedEx Freight debuted as a standalone S&P 500 LTL carrier with a large North American network. Management targets 4%-6% revenue growth, 10%-12% adjusted operating income growth and $1B free cash flow. Standalone systems, freight cyclicality and elevated debt could pressure costs and demand. FedEx Freight (FDXF - Free Report) has entered the public market as a standalone freight company. Its S&P 500 debut gives investors a clearer way to evaluate a business that was previously housed inside FedEx.
The case now rests on a focused less-than-truckload, or LTL, network, post-spin targets and the company’s ability to execute without the operating support of its former parent.
FDXF Starts Life as a Pure LTL CarrierFedEx Freight is now a focused North American LTL carrier serving manufacturers, retailers, distributors and business customers. The model moves smaller freight shipments from many customers through a shared terminal and linehaul network rather than dedicating an entire truck to one shipper.
Scale is central to that model. FDXF handles roughly 90,000 daily shipments across more than 365 locations, supported by 30,000 vehicles and 40,000 team members. That footprint matters because LTL customers value coverage, reliable pickup and delivery, shipment visibility and claims performance.
The company now sits in a peer set that includes Old Dominion Freight Line (ODFL - Free Report) , a major national LTL carrier, and XPO (XPO - Free Report) , which also competes in North American LTL. Those peers give investors a useful comparison group for pricing discipline, service quality and margin performance.
FedEx Freight Gains Strategic FreedomThe spin-off changes the management agenda. FedEx Freight no longer competes internally with parcel and express operations for capital, systems investment or executive attention. The company can direct resources toward freight customers and freight-specific network decisions.
That independence could sharpen execution. A dedicated sales force can focus on industrial, retail and distribution accounts, while technology spending can be targeted toward shipment visibility, pricing, dock productivity and route planning.
Strategic freedom does not guarantee faster growth, but it creates a cleaner investment story. Investors can now judge FDXF on freight fundamentals rather than on its contribution to a broader transportation portfolio.
FDXF Growth Plan Centers on MarginsManagement’s medium-term targets frame the stock’s growth case. FedEx Freight is aiming for revenue growth of 4% to 6% and adjusted operating income growth of 10% to 12% over the medium term.
The plan also calls for free cash flow above $1 billion, free cash flow conversion above 90% and a capital expenditure-to-revenue ratio near 5%. Those targets suggest that the company is not simply chasing shipment volume.
That distinction is important in LTL. Volume growth can help network density, but poorly priced freight can dilute margins. For FDXF, the cleaner upside would come from better yields, improved network balance, disciplined capacity spending and productivity gains.
FedEx Freight Faces a Tough Reality CheckExecution risk is the first test. FedEx Freight must build and operate standalone corporate systems after the spin-off, including public-company functions. Any disruption could absorb management time and raise costs early in independence.
The business is also exposed to the freight cycle. Industrial production, manufacturing activity, retail replenishment and broader business spending influence LTL volumes. Softer demand could pressure shipment counts, pricing and operating leverage.
Leverage adds another constraint. Elevated debt created before separation may reduce flexibility if the freight market weakens or if standalone costs run higher than planned. Debt service needs can compete with technology spending and network investment.
FDXF Signals a Mixed Setup for InvestorsThe bottom line is that FedEx Freight offers a cleaner way to own a large North American LTL network, but the stock still needs operating proof as a standalone company. The spin-off improves strategic focus, yet investors have to weigh that against systems execution, cyclicality and balance-sheet pressure.
FDXF currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We believe the stock remains worth holding for investors with a long-term horizon.
The consensus price target for FDXF stock is $175, implying an upside of more than 17% from current levels.
Image Source: Zacks Investment Research
The stock also has a Value Score of C, Growth Score of C, Momentum Score of F and VGM Score of D. That mix points to a neutral near-term setup rather than a clear buying signal.
The Style Scores reinforce that stance. C grades in value and growth suggest middle-of-the-road characteristics, while the F in momentum indicates weak timing on that measure. With a VGM Score of F, FDXF looks better suited for monitoring than for an aggressive entry until investors see cleaner execution and evidence that margin targets are becoming durable results.
IBM CEO Arvind Krishna said that only 2% of his company's software could be replaced with applications constructed by artificial intelligence models, as he seeks to reassure Wall Street following disappointing second-quarter results.
"The rest of our software really helps people get ready for AI, unlocking data in real time, reducing the cost and complexity of managing it, going across the hybrid infrastructure, which most of our clients are using," Krishna told CNBC's "Squawk on the Street" on Thursday. "And because it would be what you would call maybe infrastructure software, not applications, I believe it'll be a tailwind for us."
Wall Street has turned skeptical on software stocks over the past couple years due to concerns that AI will disrupt their business models as technology from Anthropic, OpenAI and others gets more powerful. IBM shares are down about 30% this year, and the iShares Expanded Tech-Software Sector Exchange-Traded Fund (IGV) has dropped 17%.
In February, IBM saw shares sink 13% after Anthropic issued a blog post on its Claude Code tool's ability to modernize code written in Cobol, which is often found on mainframes.
Krishna told analysts on Wednesday, after the company's earnings report, that IBM's current-generation z17 mainframe encountered challenges in the quarter. Finance chief Jim Kavanaugh said some customers chose to spend money on other data center equipment, such as servers and storage, as memory prices spike because of AI chip requirements.
For every dollar in revenue IBM generates from mainframe infrastructure, it picks up $3 in software. Just as IBM's Z mainframe business saw revenue drop 42% in the quarter, transaction processing software declined 9%. It was a sudden shift from the first quarter, when Z revenue grew 48%, and transaction processing increased 2%.
During the June quarter, 45% of IBM's revenue came from software, where profit margins are the strongest.
Krishna said Starbucks spends about $2 million per year on IBM software. He said the coffee maker is taking out Tririga lease management software. IBM bought Tririga in 2011, and plans to end support in 2027.
"That is a big component of that 2% I talked about, and I do think that software like that is subject to risk," he said. "By the way, what they had in place was a 10-year-old piece of software."
While IBM stuck with its guidance for a $1 billion bump to free cash flow in 2026, Kavanaugh said Wednesday that he now expects 6% to 8% growth in software revenue for the year. In January, he said he was confident the growth rate would be in the double digits.
Krishna said on Thursday that mainframe hardware capacity is growing, which has implications for software.
"The software on that tends to lag the hardware capacity, and I do think that if we give it another year, you'll find the software will catch back up," he said.
About 75% of deals that slipped from the second quarter should come back to IBM before year end, Krishna said.
"We would avoid giving full credit for the maintained guide until a larger portion of the slipped activity is reflected in reported results," analysts at Jefferies wrote in a Thursday note to clients. They recommend buying the stock.
, /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") announced today the commencement by its wholly-owned subsidiaries, Charter Communications Operating, LLC ("CCO"), Charter Communications Operating Capital Corp. ("CCO Capital" and, together with CCO, collectively, the "CCO Issuers" or the "Company") and Time Warner Cable, LLC (the "TWC Issuer" and, together with CCO Issuers, the "Old Notes Issuers") of a private offer to exchange (the "Pool 1 Offer") seven series of notes issued by the CCO Issuers or the TWC Issuer, as applicable (collectively, the "Pool 1 Notes"), for a combination of cash consideration and a new series of Senior Secured Notes due 2038 (the "New 2038 Notes") to be issued by the CCO Issuers with registration rights, as described and for the consideration summarized in the table below. The aggregate principal amount of Pool 1 Notes of each series that are accepted for exchange will be based on, among other things, the order of acceptance priority for such series as set forth in the table below and, with respect to the 4.500% senior debentures due 2042 issued by the TWC Issuer (the "4.500% Notes"), the sub-cap with respect to the aggregate principal amount of such series set forth in the table below (the "4.500% Notes Sub-Cap"), such that the aggregate principal amount of Pool 1 Notes accepted in the Pool 1 Offer results in the issuance of New 2038 Notes in an amount not exceeding $1,750,000,000 (the "New 2038 Notes Cap").
Issuer(s)
Title of Security
Aggregate Principal Amount Outstanding
CUSIP No./ ISIN(1)
Acceptance Priority Level(2)
Sub-Cap(2)
Reference Treasury
Bloomberg Reference Page(3)
Fixed Spread (Basis Points)
Early Exchange Premium(4)(5)
Cash
Component(6)
CCO Issuers
3.500% senior secured notes due 2042
$1,236,000,000
161175CE2 / US161175CE27
1
N/A
5.000% due May 15, 2046
FIT 1
+165 Bps
$50.00
$95.00
3.500% senior secured notes due 2041
$1,479,000,000
161175BZ6 / US161175BZ64
2
N/A
4.375% due May 15, 2036
FIT 1
+215 Bps
$50.00
$130.00
Time Warner Cable, LLC ("TWC Issuer" or "TWC")
4.500% senior debentures due 2042
$1,250,000,000
88732JBD9 / US88732JBD90
3
$450,000,000
5.000% due May 15, 2046
FIT 1
+190 Bps
$50.00
$305.00
CCO Issuers
5.375% senior secured notes due 2047
$2,265,000,000
161175BL7 / US161175BL78
161175BD5 /
US161175BD52
4
N/A
5.000% due May 15, 2046
FIT 1
+215 Bps
$50.00
$120.00
2.300% senior secured notes due 2032
$1,000,000,000
161175BX1 / US161175BX17
5
N/A
4.125% due June 30, 2031
FIT 1
+110 Bps
$50.00
$0.00
2.800% senior secured notes due 2031
$1,590,000,000
161175BU7 / US161175BU77
6
N/A
4.125% due June 30, 2031
FIT 1
+110 Bps
$50.00
$0.00
2.250% senior secured notes due 2029
$1,250,000,000
161175CD4 / US161175CD44
7
N/A
4.125% due July 15, 2029
FIT 1
+80 Bps
$50.00
$0.00
_____________
(1)
No representation is made as to the correctness or accuracy of the CUSIP or ISIN numbers listed in the Offering Memorandum (as defined below). Such CUSIP and ISIN numbers are provided solely for the convenience of the holders of Pool 1 Notes.
(2)
Subject to the New 2038 Notes Cap and, solely with respect to the 4.500% Notes, the 4.500% Notes Sub-Cap set forth in this table and proration, the principal amount of each series of Pool 1 Notes that is purchased in the Pool 1 Offer will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order with 1 being the highest Acceptance Priority Level and 7 being the lowest) specified in this column.
(3)
The Bloomberg Reference Page/Screen is provided for convenience only. To the extent any Bloomberg Reference Page/Screen changes prior to the Pricing Time (as defined below), the Joint-Lead Dealer Managers referred to below will quote the applicable Reference Treasury Security from the updated Bloomberg Reference Page/Screen.
(4)
Per $1,000 principal amount of the Pool 1 Notes validly tendered prior to or at the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline (as defined below)) and accepted for exchange, to be paid in the form of New 2038 Notes.
(5)
The Total Exchange Consideration (as defined below) for the Pool 1 Notes validly tendered prior to or at the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for exchange is inclusive of the Early Exchange Premium.
(6)
Represents the portion of the Total Exchange Consideration or the Base Exchange Consideration in each case for the Pool 1 Notes, as applicable, that will be payable in cash per $1,000 principal amount of Pool 1 Notes validly tendered and accepted for exchange.
Charter also announced today the commencement by CCO Issuers of a private offer to exchange (the "Pool 2 Offer") five series of notes (collectively, the "Pool 2 Notes" and, together with the Pool 1 Notes, the "Old Notes" and each series of Old Notes, a "series of Old Notes") for a combination of cash and a new series of Senior Secured Notes due 2041 (the "New 2041 Notes" and, together with the New 2038 Notes, the "New Notes" and each series of New Notes, a "series of New Notes") to be issued by the CCO Issuers with registration rights, as described and for the consideration summarized in the table below. The aggregate principal amount of Pool 2 Notes of each series that are accepted for exchange will be based on, among other things, the order of acceptance priority for such series as set forth in the table below, such that the aggregate principal amount of Pool 2 Notes accepted in the Pool 2 Offer results in the issuance of New 2041 Notes in an amount not exceeding $1,750,000,000 (the "New 2041 Notes Cap").
Issuer(s)
Title of Security
Aggregate Principal Amount Outstanding
CUSIP No./ ISIN(1)
Acceptance Priority Level(2)
Sub-Cap(2)
Reference Treasury
Bloomberg Reference Page(3)
Fixed Spread (Basis Points)
Early Exchange Premium(4)(5)
Cash
Component(6)
CCO Issuers
3.700% senior secured notes due 2051
$2,050,000,000
161175BV5 / US161175BV50
1
N/A
4.750% due February 15, 2056
FIT 1
+190 Bps
$50.00
$0.00
3.900% senior secured notes due 2052
$2,400,000,000
161175CA0 / US161175CA05
2
N/A
4.750% due February 15, 2056
FIT 1
+195 Bps
$50.00
$0.00
4.800% senior secured notes due 2050
$2,473,000,000
161175BT0 / US161175BT05
3
N/A
4.750% due February 15, 2056
FIT 1
+205 Bps
$50.00
$117.50
5.125% senior secured notes due 2049
$1,244,000,000
161175BS2 / US161175BS22
4
N/A
5.000% due May 15, 2046
FIT 1
+220 Bps
$50.00
$150.00
5.250% senior secured notes due 2053
$1,500,000,000
161175CK8 / US161175CK86
5
N/A
4.750% due February 15, 2056
FIT 1
+210 Bps
$50.00
$190.00
_____________
(1)
No representation is made as to the correctness or accuracy of the CUSIP or ISIN numbers listed in the Offering Memorandum. Such CUSIP and ISIN numbers are provided solely for the convenience of the holders of Pool 2 Notes.
(2)
Subject to the New 2041 Notes Cap and, the principal amount of each series of Pool 2 Notes that is purchased in the Pool 2 Offer will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order with 1 being the highest Acceptance Priority Level and 5 being the lowest) specified in this column.
(3)
The Bloomberg Reference Page/Screen is provided for convenience only. To the extent any Bloomberg Reference Page/Screen changes prior to the Pricing Time, the Joint-Lead Dealer Managers referred to below will quote the applicable Reference Treasury Security from the updated Bloomberg Reference Page/Screen.
(4)
Per $1,000 principal amount of the Pool 2 Notes validly tendered prior to or at the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for exchange, to be paid in the form of New 2041 Notes.
(5)
The Total Exchange Consideration for the Pool 2 Notes validly tendered prior to or at the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for exchange is inclusive of the Early Exchange Premium.
(6)
Represents the portion of the Total Exchange Consideration or the Base Exchange Consideration in each case for the Pool 2 Notes, as applicable, that will be payable in cash per $1,000 principal amount of Pool 2 Notes validly tendered and accepted for exchange.
Eligible Holders (as defined below) of Old Notes who validly tendered at or prior to the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline), and whose Old Notes are accepted pursuant to the terms of the applicable Exchange Offers, will receive the Total Exchange Consideration. The Total Exchange Consideration (which includes the Early Exchange Premium) for each $1,000 principal amount of Old Notes validly tendered at or prior to the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for exchange pursuant to the terms of the applicable Exchange Offers will be divided into (i) a cash payment equal to the applicable Cash Component and (ii) a principal amount of the applicable series of New Notes equal to the Total Exchange Consideration of the series of outstanding Old Notes tendered minus such Cash Component. The "Total Exchange Consideration" for each $1,000 principal amount of Old Notes validly tendered at or prior to the Early Tender Date (as defined below) (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for exchange pursuant to the terms of the applicable Exchange Offers will be determined in accordance with standard market practice, as described in the Offering Memorandum using the applicable "Exchange Offer Yield," which will be equal to the sum of (i) the yield to maturity (the "Reference Yield") based on the bid side price of the U.S. Treasury Security (the "Reference U.S. Treasury Security") specified on the tables above for each series of Old Notes, as calculated by the Joint-Lead Dealer Managers (as defined below) at 10:00 a.m., New York City time, on August 6, 2026 (subject to certain exceptions set forth herein, such time and date, as the same may be extended, the "Pricing Time") appearing on the Bloomberg Reference Page specified on the front cover of the Offering Memorandum for such series of Old Notes (or any other recognized quotation source selected by the Joint-Lead Dealer Managers in their sole discretion if such quotation report is not available or manifestly erroneous), plus (ii) the applicable fixed spread (the "Fixed Spread") specified for each series of Old Notes in the tables above. The Total Exchange Consideration will include the Early Exchange Premium.
The New 2038 Notes will bear interest at a rate per annum to be determined as of the Pricing Time, as the sum of (a) the bid-side yield on the 4.375% U.S. Treasury Notes due May 15, 2036 (the "Benchmark Security"), as calculated by the Joint-Lead Dealer Managers in accordance with standard market practice, as of the Pricing Time as displayed on the Bloomberg Reference Page FIT 1 (or any recognized quotation source selected by the Joint-Lead Dealer Managers in their sole discretion if the Bloomberg Reference Page FIT 1 is not available or is manifestly erroneous), plus (b) 2.450%, rounded to the nearest 0.001%, such that the New 2038 Notes will be issued at par. The New 2041 Notes will bear interest at a rate per annum to be determined as of the Pricing Time, as the sum of (a) the bid-side yield on the Benchmark Security, as calculated by the Joint-Lead Dealer Managers in accordance with standard market practice, as of the Pricing Time as displayed on the Bloomberg Reference Page FIT 1 (or any recognized quotation source selected by the Joint-Lead Dealer Managers in their sole discretion if the Bloomberg Reference Page FIT 1 is not available or is manifestly erroneous), plus (b) 2.700%, rounded to the nearest 0.001%, such that the New 2041 Notes will be issued at par.
Set forth below is a table summarizing certain material terms of the New Notes:
Title of Series
Maturity Date
Benchmark Security
Spread to Benchmark
Security (bps)
New 2038 Notes
September 1, 2038
4.375% UST due May
15, 2036
245
New 2041 Notes
September 1, 2041
4.375% UST due May
15, 2036
270
Eligible Holders of Old Notes who validly tendered after the Early Tender Date but on or prior to the Expiration Date, and whose Old Notes are accepted pursuant to the terms of the applicable Exchange Offers, will receive the Base Exchange Consideration. The Base Exchange Consideration for each series of Old Notes validly tendered and accepted for exchange pursuant to the Exchange Offers will equal the Total Exchange Consideration for such series of Old Notes minus the applicable Early Exchange Premium for such series of Old Notes.
In addition, Eligible Holders of Old Notes who validly tendered their Old Notes on or prior to the Expiration Date, and whose Old Notes are accepted pursuant to the terms of the applicable Exchange Offers, will receive in cash accrued and unpaid interest from the last applicable interest payment date to, but excluding, the date on which the exchange of such Old Notes is settled (the "Accrued Interest"), plus amounts due in lieu of fractional amounts of New Notes. Eligible Holders who receive New Notes in exchange for Old Notes on the Final Settlement Date (as defined below) will receive New Notes that will, if the Early Settlement Date (as defined below) has occurred, have an embedded entitlement to pre-issuance interest for the period from, and including, the Early Settlement Date to, but not including, the Final Settlement Date. As a result, the cash payable for Accrued Interest on the Old Notes exchanged on the Final Settlement Date will be reduced by the amount of pre-issuance interest on the New Notes exchanged therefor.
The Exchange Offers are being conducted upon the terms and subject to the conditions set forth in an offering memorandum, dated July 23, 2026 (the "Offering Memorandum"). The Company reserves the right, in its sole and absolute discretion, to increase the New 2038 Notes Cap or the New 2041 Notes Cap without extending the Withdrawal Deadline or otherwise reinstating withdrawal rights.
The consummation of each Exchange Offer is subject to and conditioned upon the satisfaction or waiver of certain conditions, including, (i) that with respect to each series of New Notes, at least $500,000,000 aggregate principal amount of such series of New Notes would be issued on the Early Settlement Date, (ii) that as of the Pricing Time, the combination of the yield of the New Notes and the Total Exchange Consideration or the Base Exchange Consideration, as applicable, for the applicable series of Old Notes would result in the New Notes and such Old Notes being treated as "substantially different" under FASB Accounting Standards Codification ("ASC") 470-50 and (iii) that with respect to any Old Notes validly tendered pursuant to any Exchange Offer that will be exchanged on the Final Settlement Date, we determine that the New Notes to be issued on the Final Settlement Date in such Exchange Offer will be treated as part of the same issue as the New Notes, if any, issued on the Early Settlement Date for U.S. federal income tax purposes. The Company reserves the right, in its sole discretion, to (i) amend the terms of any Exchange Offer or (ii) waive or amend any condition described in the Offering Memorandum with respect to any Exchange Offer, without extending the Early Tender Date or the Withdrawal Deadline or otherwise reinstating withdrawal rights for any Exchange Offer, subject to applicable law.
Only Eligible Holders of Old Notes who validly tender their Old Notes at or before 5:00 p.m. New York City time on August 5, 2026, subject to any extension by the Company (the "Early Tender Date"), who do not validly withdraw their tenders and whose Old Notes are accepted for exchange, will receive an early exchange premium as set forth in the tables above (the "Early Exchange Premium").
The Exchange Offers will expire at 5:00 p.m., New York City time, on August 20, 2026, unless extended or earlier terminated by the Company (the "Expiration Date"). Tenders of Old Notes submitted in the Exchange Offers at or prior to 5:00 p.m. New York City time on August 5, 2026, subject to any extension by the Company (the "Withdrawal Deadline"), may be validly withdrawn at any time prior to the Withdrawal Deadline, but thereafter will be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by the Company). Tenders submitted in the Exchange Offers after the Withdrawal Deadline will be irrevocable except in the limited circumstances where additional withdrawal rights are required by law (as determined by the Company).
The Company reserves the right, but is under no obligation, at any point following the Early Tender Date and before the Expiration Date, to accept for exchange any Old Notes validly tendered at or prior to the Early Tender Date (the date of such exchange, the "Early Settlement Date"). The Early Settlement Date will be determined at the Company's option and is currently expected to occur on August 12, 2026, the fifth business day immediately following the Early Tender Date. If, after the Early Tender Date, the Company choose to exercise its options to have an Early Settlement Date and all conditions to the relevant Exchange Offers have been or are concurrently satisfied or waived by the Company, the Old Notes Issuers will, subject to the terms of the Exchange Offers, accept for exchange all Old Notes validly tendered in the Exchange Offers prior to the Early Tender Date subject to proration, and the exchange for such Old Notes will be made on the Early Settlement Date.
The Final Settlement Date for the Exchange Offers will be promptly after the Expiration Date and is currently expected to occur on August 24, 2026, the second business day immediately following the Expiration Date (the "Final Settlement Date").
The Exchange Offers are only being made, and the New Notes and related guarantees are only being offered and will only be issued to holders of Old Notes who are (1) reasonably believed to be "qualified institutional buyers" ("QIBs") as defined in Rule 144A under the Securities Act ("Rule 144A") or (2) outside the United States to persons other than "U.S. persons" as defined in Rule 902 under the Securities Act in offshore transactions in compliance with Regulation S under the Securities Act ("Regulation S") (such holders, the "Eligible Holders"). Only Eligible Holders who have properly completed and returned the eligibility certification, which is available from the Information Agent, are authorized to receive and review the Offering Memorandum and to participate in the Exchange Offers. Additionally, in order to participate in the Exchange Offers, Eligible Holders located in Canada are required to complete, sign and submit to the Information Agent a Canadian Eligibility Form (which is available from the Information Agent). There is no separate letter of transmittal in connection with the offering memorandum.
The New Notes and related guarantees have not been registered under the Securities Act or any state securities laws. Therefore, the New Notes and related guarantees may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.
Holders are advised to check with any bank, securities broker or other intermediary through which they hold Old Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in the Exchange Offers before the deadlines specified herein and in the Offering Memorandum, eligibility certification and Canadian Eligibility Form. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum, eligibility certification and Canadian Eligibility Form.
This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein. The Exchange Offers are being made solely by the Offering Memorandum and only to such persons and in such jurisdictions as is permitted under applicable law.
Barclays Capital Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are serving as the dealer managers for the Exchange Offers (the "Joint Lead Dealer Managers"). Questions regarding the Exchange Offers may be directed to Barclays Capital Inc., Liability Management Group at (800) 438-3242 (toll free) or (212) 528-7581 (collect), Citigroup Global Markets Inc., Liability Management Group at (800) 558-3745 (toll free) or (212) 723-6106 (collect) or Morgan Stanley & Co. LLC, Liability Management Group at (800) 624-1808 (toll free) or (212) 761-1057 (collect).
D.F. King & Co., Inc. will act as the exchange agent and information agent for the Exchange Offers. Documents relating to the Exchange Offers will only be distributed to holders of Old Notes who certify that they are Eligible Holders. Questions or requests for assistance related to the Exchange Offers or for additional copies of the Offering Memorandum, eligibility certification or Canadian beneficial holder form may be directed to D.F. King & Co., Inc. at (888) 644-5854 (toll-free) or (646) 981-1289 (banks and brokers) or by email at [email protected]. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offers. The Offering Memorandum, eligibility certification and Canadian beneficial holder form can be accessed at the following link: www.dfking.com/charter.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.
More information about Charter can be found at corporate.charter.com.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Exchange Offers. Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in Charter's filings with the SEC. Many of the forward-looking statements contained in this press release may be identified by the use of forward-looking words such as "believe," "future," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "tentative," "positioning," "designed," "create," "predict," "project," "initiatives," "seek," "would," "could," "continue," "ongoing," "upside," "increases," "grow," "focused on" and "potential," among others.
All forward-looking statements attributable to the Company or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. The Company is under no duty or obligation to update any of the forward-looking statements after the date of this press release.
DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced second quarter 2026 results and declared a dividend of $0.261 per share. "Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second quarter free cash flow of $2.2 billion, while remaining on track to achieve our full-year 2026 guidance,” said Natascha Viljoen, Newm.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Chord Energy Corp. (Nasdaq: CHRD) ("Chord" or the "Company") plans to announce its second quarter 2026 financial and operating results on Wednesday, August 5, 2026 after market close. The Company will host a live webcast and conference call on Thursday, August 6, 2026 at 10:00 a.m. Central.
Investors, analysts and other interested parties are invited to listen to the webcast:
You may use the following dial-in information to join the conference call by phone with operator assistance:
Dial-in:
1-800-836-8184
Intl. Dial-in:
1-646-357-8785
Conference ID:
34285
Website:
www.chordenergy.com
A recording of the conference call will be available beginning at 1:00 p.m. Central on the day of the call and will be available until Thursday, August 13, 2026 by dialing:
Replay dial-in:
1-888-660-6345
Intl. replay:
1-646 517 4150
Replay access:
34285 #
The call will also be available for replay for approximately 30 days at www.chordenergy.com.
Additionally, Chord Energy plans to participate in the following energy conferences and investor events:
August 11-12, 2026
Citi 2026 Global Power & Energy Conference - Las Vegas, NV
August 19, 2026
Wolfe Research Fall Energy Summit - Virtual
September 06, 2026
Barclays CEO Energy-Power Conference - New York, NY
September 29, 2026
Mizuho Oil & Gas Fall Bus Tour - Houston, TX
September 29-30, 2026
PEP Energy Conference - Austin, TX
About Chord Energy Corp.
Chord Energy Corp. is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company's website at www.chordenergy.com.
, /PRNewswire/ -- SAP SE (NYSE: SAP) announced today its financial results for the second quarter ended June 30, 2026.
Current cloud backlog of €22.9 billion, up 27% and up 26% at constant currencies Cloud revenue up 22% and up 24% at constant currencies Cloud ERP Suite revenue up 25% and up 27% at constant currencies Total revenue up 9% and up 11% at constant currencies IFRS operating profit up 8%, non-IFRS operating profit up 7% and up 9% at constant currencies 2026 non-IFRS operating profit outlook updated to reflect dilutive impact from Dremio and Prior Labs acquisitions Christian Klein, CEO:
We delivered another quarter of strong current cloud backlog growth, up 26% at constant currencies. This performance is underpinned by our Autonomous Enterprise strategy with strong momentum across our Autonomous Suite as well as our Business AI Platform. Customers are choosing SAP to enable accurate and compliant AI outcomes grounded in their most critical business processes and data.
Dominik Asam, CFO:
Q2 was another strong quarter, highlighted by sustained current cloud backlog and free cash flow growth against a volatile macroeconomic backdrop. These results reflect our disciplined execution and our ability to deliver against our operating objectives. As part of that execution, we aggressively drive our own transformation into an Autonomous Enterprise, leveraging AI to boost both effectiveness and efficiency at the same time.
Group Results at a Glance
Second quarter 2026
IFRS
Non-IFRS1
€ million, unless otherwise stated
Q2 2026
Q2 2025
∆ in %
Q2 2026
Q2 2025
∆ in %
∆ in % const. curr.
Current cloud backlog
22,929
18,052
27
26
SaaS/PaaS2
6,216
5,045
23
6,216
5,045
23
25
Thereof Cloud ERP Suite2
5,525
4,422
25
5,525
4,422
25
27
Thereof Extension Suite2
692
624
11
692
624
11
12
IaaS2
65
85
–23
65
85
–23
–22
Cloud revenue
6,281
5,130
22
6,281
5,130
22
24
Software licenses revenue
131
194
–32
131
194
–32
–32
Software support revenue
2,439
2,642
–8
2,439
2,642
–8
–7
Cloud and software revenue
8,851
7,966
11
8,851
7,966
11
13
Services Revenue
1,027
1,061
–3
1,027
1,061
–3
–2
Total revenue
9,878
9,027
9
9,878
9,027
9
11
Cloud gross profit
4,664
3,833
22
4,687
3,856
22
23
Cloud gross margin (in %)
74.3
74.7
–0.5pp
74.6
75.2
–0.6pp
–0.7pp
Gross profit
7,228
6,620
9
7,250
6,643
9
11
Gross margin (in %)
73.2
73.3
–0.2pp
73.4
73.6
–0.2pp
–0.2pp
Operating profit (loss)
2,643
2,456
8
2,743
2,568
7
9
Operating margin (in %)
26.8
27.2
–0.5pp
27.8
28.5
–0.7pp
–0.4pp
Profit (loss) after tax
2,209
1,749
26
1,828
1,747
5
Earnings per share - Basic (in €)
1.89
1.45
30
1.59
1.50
6
Net cash flows from operating activities
3,153
2,577
22
Free cash flow
3,002
2,357
27
1 For a breakdown of the individual adjustments see table Non-IFRS Operating Expense Adjustments by Functional Areas in this Quarterly Statement.
2 For a definition of Cloud ERP Suite and Extension Suite, see the Performance Management System chapter in the 2025 Integrated Report. For an Explanation of IaaS, SaaS, and PaaS, see the Notes to the Consolidated Financial Statements of the Integrated Report 2025, Note (A.1).
Six months ended June 2026
IFRS
Non-IFRS1
€ million, unless otherwise stated
Q1–Q2
2026
Q1-Q2
2025
∆ in %
Q1–Q2
2026
Q1-Q2
2025
∆ in %
∆ in % const. curr.
Current cloud backlog
22,929
18,052
27
26
SaaS/PaaS2
12,112
9,935
22
12,112
9,935
22
27
Thereof Cloud ERP Suite2
10,739
8,673
24
10,739
8,673
24
29
Thereof Extension Suite2
1,373
1,262
9
1,373
1,262
9
12
IaaS2
131
188
–30
131
188
–30
–28
Cloud revenue
12,244
10,124
21
12,244
10,124
21
26
Software licenses revenue
247
377
–34
247
377
–34
–33
Software support revenue
4,908
5,403
–9
4,908
5,403
–9
–6
Cloud and software revenue
17,399
15,904
9
17,399
15,904
9
13
Services Revenue
2,033
2,136
–5
2,033
2,136
–5
–2
Total revenue
19,432
18,040
8
19,432
18,040
8
11
Cloud gross profit
9,114
7,553
21
9,168
7,601
21
25
Cloud gross margin (in %)
74.4
74.6
–0.2pp
74.9
75.1
–0.2pp
–0.4pp
Gross profit
14,201
13,226
7
14,263
13,275
7
11
Gross margin (in %)
73.1
73.3
–0.2pp
73.4
73.6
–0.2pp
–0.3pp
Operating profit (loss)
5,383
4,789
12
5,609
5,024
12
16
Operating margin (in %)
27.7
26.5
1.2pp
28.9
27.8
1.0pp
1.2pp
Profit (loss) after tax
4,155
3,545
17
3,830
3,428
12
Earnings per share - Basic (in €)
3.55
2.98
19
3.31
2.94
12
Net cash flows from operating activities
6,666
6,357
5
Free cash flow
6,250
5,939
5
1 For a breakdown of the individual adjustments see table Non-IFRS Operating Expense Adjustments by Functional Areas in this Quarterly Statement.
2 For a definition of Cloud ERP Suite and Extension Suite, see the Performance Management System chapter in the 2025 Integrated Report. For an Explanation of IaaS, SaaS, and PaaS, see the Notes to the Consolidated Financial Statements of the Integrated Report 2025, Note (A.1).
Supplementary Information[1]
Financial Results
Current cloud backlog growth benefited from the first-time inclusion of Reltio, which contributed less than 1 percentage point to the constant currencies growth rate.
The sequential decline in both IFRS and non-IFRS operating profit growth is mainly caused by the sequential deceleration of cloud- and total revenue growth, an unusually low stock-based compensation expense in the first quarter, accelerated investments into research and development as well as the dilutive impact of the Reltio acquisition.
IFRS effective tax rate was 26.5% and non-IFRS effective tax rate was 30.8%. The IFRS effective tax rate is lower than the non-IFRS effective tax rate due to tax benefits from tax-exempt income.
Share Repurchase Program
In January 2026, SAP announced a new share repurchase program with an aggregate volume of up to €10 billion and a term until December 31, 2027. As of June 30, 2026, SAP had repurchased 16,280,097 shares at an average price of €161.16 resulting in a purchased volume of approximately €2.6 billion under the program.
Outlook
Financial Outlook
For 2026, SAP is updating its non-IFRS operating profit outlook to reflect the dilutive impact of the Dremio and Prior Labs acquisitions closed in July, which is projected to be in excess of €100 million. SAP now expects:
€11.8 – 12.2 billion non-IFRS operating profit at constant currencies (2025: €10.42 billion), up 13% to 17% at constant currencies. The previous outlook was €11.9 – 12.3 billion. SAP continues to expect:
€25.8 – 26.2 billion cloud revenue at constant currencies (2025: €21.02 billion), up 23% to 25% at constant currencies. €36.3 – 36.8 billion cloud and software revenue at constant currencies (2025: €32.54 billion), up 12% to 13% at constant currencies. Approximately €10 billion free cash flow at actual currencies (2025: €8.24 billion). An effective tax rate (non-IFRS) of approximately 29% (2025: 30.5%)[2]. Constant currencies current cloud backlog growth to slightly decelerate (2025: 25%). SAP further expects:
Constant currencies total revenue growth in 2026 to remain at similar levels as in 2025 (10.6%) and to accelerate in 2027. Total operating expenses to grow at 80% to 90% of total revenue growth in 2027. Constant currencies software support revenue decline rate to accelerate in the coming years as a consequence of an acceleration of customers transforming to the cloud. SAP's financial outlook for the full-year 2026 is based on the assumption of a near-term de-escalation of the conflict in the Middle East. Other impacts due to the evolving situation in the Middle East are currently unknown and could potentially subject our business to materially adverse consequences should the situation continue or even further escalate beyond its current scope.
While SAP's 2026 financial outlook for the income statement parameters is at constant currencies (including an average exchange rate of 1.13 USD per EUR), actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the company progresses through the year, as reflected in the table below.
Currency Impact Assuming June 30, 2026 Rates Apply for 2026
In percentage points
Q3 2026
FY 2026
Cloud revenue growth
1.5pp
-1.5pp
Cloud and software revenue growth
1.0pp
-1.5pp
Operating profit growth (non-IFRS)
0.0pp
-2.0pp
This includes an exchange rate of 1.14 USD per EUR.
Non-Financial Outlook
For 2026, SAP continues to expect:
Cloud Customer Satisfaction (Cloud CSAT) to be in a range of 75% to 76% (2025: 75%). The Employee Engagement Index to be in a range of 74% to 78% (2025: 76%). The Business Health Culture Index (BHCI) to be in a range of 80% to 82% (2025: 81%). To steadily decrease carbon emissions across the relevant value chain (2025: 3.6 Mt). Business Highlights
In the second quarter, customers around the globe continued to choose the "RISE with SAP" journey. These customers included: ACCIONA, AIRBUS, City of Osnabrueck, Electrolux, Eli Lilly, Gilead Sciences, HARTING, Hindustan Zinc, The Humboldt University of Berlin, JET, Ørsted, Samsonite Group, Shell, The Shoprite Group, SIGNAL IDUNA, SPAR (CH), Sun Pharma, Vonovia.
Gooroo Crédito, Modular Data Centers, Parloa, Tarrant County, Techem chose "SAP GROW".
AMADEUS, BBC, Booking.com, GOL, Oki Electric Industry, PwC, University Hospital Zurich, Vale chose SAP's AI and data solutions.
Döhler, FANUC Europe, Fonterra, Natura Cosméticos, SABESP, TEAG went live on SAP solutions in the second quarter.
In the second quarter, SAP's cloud revenue performance was particularly strong in APJ and EMEA and solid in the Americas region. Brazil, France, Germany, Italy, India, South Korea and Spain had outstanding performance, while Australia, Singapore and the U.S. were particularly strong.
On April 10, SAP announced that it has extended the contract of Gina Vargiu-Breuer, Chief People Officer of SAP SE, for another three years until January 31, 2030.
On April 22, SAP and Google Cloud announced a new partnership that will help marketers put AI agents to work at scale.
On May 4, SAP and Dremio announced that SAP has agreed to acquire Dremio, an open, high-performance data lakehouse platform built to accelerate agentic AI and expand SAP Business Data Cloud's ability to combine SAP and non-SAP data to more effectively run analytical and AI workloads in real time. The acquisition was completed on July 6.
In addition, SAP and Prior Labs, the pioneer of Tabular Foundation Models (TFMs), announced that they have entered into a definitive agreement for SAP to purchase Prior Labs, accelerating SAP's success in TFMs that started with SAP-RPT-1, and bringing one of the world's leading TFM research teams into the SAP family. The acquisition was completed on July 16.
On May 5, SAP held its Annual General Meetings of Shareholders, with all agenda items achieving strong shareholder support.
On May 7, SAP announced that it has completed the acquisition of Reltio, a leading master data management (MDM) software provider.
On May 12, SAP introduced the Autonomous Enterprise to help enhance the world's most critical business workflows, so that humans and AI work together to meet the accelerating demands of global business profitably, strategically and safely. In addition, SAP also announced strategic partnerships with Anthropic, Amazon Web Services, n8n, NVIDIA, Parloa, Palantir and Accenture.
On May 28, SAP rated A1 (stable) by Moody's and A+ (stable) by S&P Global, successfully completed a Eurobond transaction with a total volume of €3.5 billion across four tranches with tenors of two, three, five and seven years. The net proceeds from this transaction are used for general corporate purposes, including (re)financing of recently announced acquisitions.
On July 9, SAP announced that it welcomes the European Commission's decision to conclude its competition investigation into certain aspects of SAP's on-premise maintenance and support practices through a commitment decision, following a constructive and cooperative dialogue.
Additional Information
This quarterly statement and all information therein are preliminary and unaudited. Due to rounding, numbers may not add up precisely. The Q2 2026 Quarterly Statement can be downloaded from: https://www.sap.com/investors/sap-2026-q2-statement.
SAP Performance Measures
For more information about our key growth metrics and performance measures, their calculation, their usefulness, and their limitations, please refer to the following document on our Investor Relations website: https://www.sap.com/investors/en/financial-documents-and-events/reporting-framework.html.
Webcast
SAP senior management will host a financial analyst conference call on Thursday, July 23rd at 11:00 PM (CEST) / 10:00 PM (BST) / 5:00 PM (EDT) / 2:00 PM (PDT). The conference will be webcast on the Company's website at https://www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the first quarter results can be found at https://www.sap.com/investor
About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE: SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.
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[1] The Q2 2026 results were also impacted by other effects. For details, please refer to the disclosures on page 22 of this document.
[2] The effective tax rate (non-IFRS) is a non-IFRS financial measure and is presented for supplemental informational purposes only. We do not provide an outlook for the effective tax rate (IFRS) due to the uncertainty and potential variability of gains and losses associated with equity securities, which are reconciling items between the two effective tax rates (non-IFRS and IFRS). These items cannot be provided without unreasonable efforts but could have a significant impact on our future effective tax rate (IFRS).
SAP SE (NYSE:SAP) posted its second-quarter results after Thursday’s closing bell, missing analyst estimates on the top and bottom lines. Here’s a look at the key figures from the quarter.
SAP stock is moving. Watch the price action here. SAP reported quarterly earnings of $1.85 per share, which missed the consensus estimate of $2.01 by 7.96%, according to Benzinga Pro data.
Quarterly revenue came in at $11.48 billion, which just missed the Street estimate of $11.49 billion and was up from $10.24 billion in the same period last year.
SAP reported the following second quarter highlights:
“We delivered another quarter of strong current cloud backlog growth, up 26% at constant currencies. This performance is underpinned by our Autonomous Enterprise strategy with strong momentum across our Autonomous Suite as well as our Business AI Platform,” said CEO Christian Klein.
Looking AheadSAP expects sees constant currencies total revenue growth in 2026 to remain at similar levels as in 2025 (10.6%) and to accelerate in 2027.
SAP Stock Price Activity: According to data from Benzinga Pro, SAP stock was up 1.52% to $148.60 in Thursday’s extended trading.
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3 Dividend Growth Stocks With 6% to 8% YieldsDover NYSE: DOV executives said the company delivered broad-based growth in the second quarter, with orders strengthening across all five business segments and management raising its full-year outlook for organic revenue growth and adjusted earnings per share.
CEO and President Rich Tobin said revenue rose 7% overall and 5% organically, with each of Dover’s five segments posting positive organic growth. Adjusted EBITDA margin expanded 80 basis points to 25.9%, while adjusted earnings per share rose 12% year over year to $2.74.
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3 Dividend Kings Poised to Outperform the Market“We delivered another strong quarter with results that reflect the breadth of demand across the portfolio,” Tobin said. He added that Dover’s top-line performance continued to be led by markets tied to secular growth trends, which he said now represent about 25% of the portfolio.
Bookings were a major focus of the call. Orders increased 16% year over year, and the company reported a book-to-bill ratio of 1.06. Tobin said the order momentum extended recent trends and improved visibility into the second half of the year.
Segment Performance Shows Broad Growth These 5 Dividend Aristocrats are Quality Stocks for AI InvestingDover reported organic growth in all five of its segments, with several businesses benefiting from demand tied to energy infrastructure, data centers, aerospace and biopharma.
Engineered Products grew 2% organically, driven by aerospace and defense components, fluid dispensing and industrial winches, along with stabilization in the North American vehicle aftermarket. Segment margins expanded 100 basis points. Clean Energy & Fueling grew 9% organically, supported by clean energy components and retail fueling equipment and software. Tobin cited momentum in cryogenic components used in LNG and space launch infrastructure. Segment margin expanded 170 basis points. Imaging & Identification grew 3% organically, with growth in marking and coding equipment, consumables, spare parts and serialization software. Margins expanded 150 basis points. Pumps & Process Solutions grew slightly, with strength in AI and energy infrastructure components, single-use biopharma and industrial pumps. Segment margin expanded 170 basis points to 35%. Climate & Sustainability Technologies grew 8% organically, helped by strong heat exchanger demand tied to liquid cooling for data centers and a recovery in European residential heat pumps. Tobin said the heat exchangers business delivered its “best quarter ever,” with particularly strong demand tied to liquid cooling for data centers. He said Dover is working to double capacity for those products over the next 12 months.
Refrigeration Output Issues Weighed on Results Despite overall growth in Climate & Sustainability Technologies, Tobin said Dover had a difficult quarter in refrigeration. Demand was strong across product lines, particularly CO2 systems, but the company struggled to raise output while consolidating facilities and ramping labor.
“We frankly did not expect to fall short on our production throughput targets,” Tobin said. “That’s on me, and it cost us on the top line in the quarter probably a point to a point and a half of organic growth.”
In response to a question from Vertical Research analyst Jeff Sprague, Tobin clarified that the impact was on a consolidated Dover basis. He said the company had been late on some deliveries but was not aware of any market share loss. He added that Dover had “all hands on deck” to catch up in the third and fourth quarters.
Tobin said the facility consolidation project is about three-quarters complete and that management expects throughput to improve sequentially over the balance of the year. He also said profitability in the second half should be “materially different” from the first half as output rises and redundant costs are reduced.
Cash Flow and Guidance CFO Chris Woenker said year-to-date free cash flow was $320 million, or 8% of revenue, up 23% from the prior year. He said the improvement was driven mainly by operating cash conversion on higher earnings, partly offset by working capital investments tied to faster revenue growth.
Woenker said Dover expects cash flow generation to accelerate meaningfully in the second half due to seasonal working capital liquidation. The company maintained its full-year capital expenditure estimate of $190 million to $210 million and free cash flow guidance of 14% to 16% of revenue.
Tobin said Dover raised its full-year adjusted EPS guidance and organic growth outlook based on first-half performance, momentum in end markets and visibility into the second half. He did not provide quarterly guidance when asked about third-quarter trends.
Secular Growth Markets Drive Order Momentum Tobin highlighted several markets supporting Dover’s growth, including natural gas and LNG infrastructure, data centers, CO2 refrigeration, semiconductors and electronics manufacturing, biopharma, medical applications and space-related infrastructure.
He said Dover participates in the natural gas ecosystem through cryogenic components such as valves and vacuum-jacketed piping for LNG infrastructure, as well as precision components for compressors, engines, steam turbines and gas turbines. He also said OEM lead times in some of those areas now extend for years.
In data centers, Tobin said increasing thermal requirements for new chips are driving a shift toward liquid cooling, benefiting Dover’s connector and heat exchanger businesses. He said customers are securing capacity well ahead of need in that market.
In CO2 refrigeration, Tobin said industry adoption is no longer driven only by regulation but by economics and total cost of ownership versus legacy refrigerants. Responding to Melius Research analyst Scott Davis, he said the absence of a time-based mandate is “actually better” for Dover because adoption can occur over a multi-year period.
Tobin also said Dover expects to generate $50 million in revenue tied to space this year, supported by cryogenic components for launch infrastructure and radio frequency products for satellites.
M&A Market Improving Tobin said industrial M&A markets have improved, with more assets coming to market than in recent years. He said Dover has “a number of interesting opportunities” in attractive end markets and is keeping financial flexibility to evaluate potential deals.
In response to Citigroup analyst Andy Kaplowitz, Tobin said Dover would pursue acquisitions if it can create value at appropriate prices. If not, he said the company would consider returning capital to shareholders rather than building excess cash.
“We are staying disciplined in our operations, investing behind platforms where returns are most compelling, and maintaining balance sheet flexibility to play offense on capital deployment,” Tobin said.
About Dover (NYSE:DOV)Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.
Dover's activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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, /PRNewswire/ -- Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to provide an interim operational update for the second quarter ended June 30, 2026. Florida Canyon produced 16,379 ounces of gold during the quarter, a 30% increase from the first quarter of 2026. The increase in gold production was supported by record total material movement, including a 47% increase in ore mined and a 45% increase in ore placed on the heap leach pads quarter-over-quarter. With significantly more ore being placed on the heap leach pad in the second half of this year, the Company expects gold production to increase in the third and fourth quarters and is maintaining full-year gold production guidance of 70,000 to 75,000 ounces.
The Company plans to release its second quarter 2026 financial results after market close on Tuesday, August 11, 2026, followed by a conference call hosted by senior management on Wednesday, August 12, 2026 at 10:00 AM Eastern Time / 7:00 AM Pacific Time.
(All amounts in United States ("U.S.") dollars as at June 30, 2026, unless otherwise stated.)
Q2 2026 Operational Highlights:
Key Operating Metric Improvements Quarter-over-Quarter1: 30% increase in gold produced 16% increase in total tonnes mined 47% increase in ore mined 45% increase in ore placed on heap leach pads 21% increase in processed grade 38% decrease in strip ratio 8% decrease in waste mined The Company mined 4.4 million ("M") tonnes of ore and 3.6 M tonnes of waste at a strip ratio of 0.81 at the Florida Canyon Mine ("Florida Canyon" or the "Mine"). As a result, mining rates averaged 87,867 total tonnes per day ("tpd"), representing a record rate of total material movement at the Mine. The Florida Canyon Mine produced 16,379 ounces of gold and sold 15,794 ounces of gold during the second quarter, a 30% increase in gold production quarter-over-quarter. Gold production is expected to continue increasing through the second half of 2026, supported by the implementation of the N2 ore blending strategy, higher mining rates and increased ore stacking rates on the heap leach pads. Florida Canyon achieved record mining rates during the second quarter, with total tonnes mined increasing 16% from the first quarter. The higher mining rates reflect the successful integration of new mining equipment into the fleet, positioning the operation for stronger gold production in the second half of 2026. The Company released an updated Feasibility Study and Life of Mine Plan (the "Technical Report") for Florida Canyon which highlighted a materially enhanced operation with an 8-year mine life, a 74% increase in Proven and Probable Mineral Reserve, a 17% increase in annual gold production and $0.8 billion ("B") in after-tax free cash flow2. (1)
See first quarter and second quarter results below in the table titled: Second Quarter and Year-to-Date 2026 Florida Canyon Mine Operational Update.
(2)
See news release dated June 25, 2026. This is a non-GAAP financial measure, please refer to the "Cautionary Note Regarding Non-GAAP Measures" disclosure at the end of this news release for a description of this measure.
George Salamis, President, CEO and Director of Integra commented:
"Florida Canyon continued to build operational momentum during the second quarter, with gold production increasing 30% from the first quarter and both total material moved and ore placed on the heap leach pads reaching record levels. Approximately 4.2 million tonnes of ore were placed on the heap leach pads during the quarter, a 45% increase over the first quarter, creating a large inventory of recoverable gold ounces that is expected to support stronger gold production through the balance of this year.
Beyond 2026, work is underway for the long-term transformation of Florida Canyon. As outlined in the June 2026 Technical Report news release, beginning in 2027 the Company expects higher annual gold production, lower operating costs, and stronger cash flow from an 8-year mine life, creating a stable operation to support the continued advancement of the DeLamar and Nevada North Projects."
Second Quarter and Year-to-Date 2026 Florida Canyon Mine Operational Update
Three months ended
March 31,
Three months ended
June 30,
Six months ended
June 30,
Unit (1)
2026
2026
2026
Ore mined
kt
3,008
4,417
7,425
Waste mined
kt
3,902
3,579
7,481
Strip ratio
waste/ore
1.30
0.81
1.01
Ore direct to heap leach pads
kt
1,074
2,332
3,406
Ore crushed
kt
1,784
1,824
3,608
Total ore to heap leach pads
kt
2,858
4,156
7,014
Processed grade
g/t Au
0.19
0.23
0.22
Gold recovery rate
%
59.9 %
57.8 %
58.5 %
Gold produced
oz
12,635
16,379
29,014
Gold sold
oz
12,518
15,794
28,312
Silver produced
oz
11,622
12,392
24,014
Silver sold
oz
11,466
12,581
24,047
(1)
Unit abbreviations: kt = 1,000 metric tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce
(2)
Ore crushed includes material from stockpiles and ore mined.
Florida Canyon produced 16,379 ounces of gold in the second quarter 2026, with 29,014 ounces of gold produced year-to-date. The blending strategy developed in the first quarter of 2026 for N2 ore continues to leach as expected.
Mining activity at Florida Canyon continued to accelerate during the second quarter, with approximately 8 M tonnes mined in total at an average mining rate of approximately 87,867 tpd. Record mining rates were achieved this quarter due to the integration of new mining equipment into the fleet over the last two quarters and shorter haul distances. Subsequent to quarter-end, ore stacking on the heap leach pads has exceeded expectations in July, positioning the operation for stronger gold production over the next two quarters. As a result of these mining rates, the Company maintains annual gold production guidance in 2026 of 70,000 to 75,000 ounces, with increased gold production expected over the balance of the year.
Second Quarter 2026 Consolidated Financial Position
Consolidated Financial Position
Unit (1)
June 30, 2026
Cash and cash equivalents
$000s
$111,132
(1)
Unit abbreviations: $000s = thousands of U.S. dollars
The financial information presented above is preliminary in nature and subject to completion of the Company's quarter-end financial reporting process. Final unaudited financial results may differ from these amounts and will be reported as part of the Company's quarter-end financial statements. Complete financial results for the second quarter 2026 will be reported and filed on Integra's profile on SEDAR+ at www.sedarplus.ca and EDGAR profile at www.sec.gov on Tuesday, August 11, 2026.
Second Quarter 2026 Conference Call
Integra will host a conference call and webcast on Wednesday, August 12, 2026, at 10:00 AM Eastern Time / 7:00 AM Pacific Time, to discuss the second quarter 2026 results. Details for the conference call and webcast are included below.
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project located in western Nevada. Integra creates sustainable value for shareholders, stakeholders, and local communities through successful mining operations, efficient project development, disciplined capital allocation, and strategic M&A, while upholding the highest industry standards for environmental, social, and governance practices.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
CONTACT INFORMATION
Corporate Inquiries: [email protected]
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by James Frost, P.Eng., Director, Technical Services of Integra, who is a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Forward Looking Statements
Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and in applicable United States securities law (referred to herein as forward‐looking statements). Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the future financial or operating performance of the Company and its mineral properties; the expected increase in gold production in the second half of 2026; the Company's 2026 guidance; the development, operational and economic results of the Technical Report for Florida Canyon, including cash flows, revenue potential, development, expenditures, and timing thereof, extraction rates, life-of-mine projections and cost estimates; the realization of the expected economics of Florida Canyon; future development plans; and the date and timing of the conference call and webcast to the second quarter 2026 results. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Company's mineral properties; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Company's mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated March 24, 2026 for the fiscal year ended December 31, 2025, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra's Form 40-F, which is available on the EDGAR profile for the Company at www.sec.gov.
Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at www.sedarplus.ca.
Alternative performance measures in this news release such as "free cash flow" are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are used as key performance measures that management uses to monitor and assess performance of Florida Canyon, and to plan and assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a standardized meaning within International Financial Reporting Standards ("IFRS") and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.
Free Cash Flow
Free cash flows are revenues net of operating costs, royalties, capital expenditures and cash taxes. The Company believes that this measure is useful to the external users in assessing the Company's ability to generate cash flows from the Project.
Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource and reserve information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact Board of Directors Approves Quarterly Cash Dividend Increase to $0.84 Per Share
, /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK), a global leader in tools and outdoor solutions, announced today that its Board of Directors approved a $0.01 increase of its quarterly cash dividend to $0.84 per common share. The dividend is payable on Tuesday, September 22, 2026, to shareholders of record as of the close of business on Tuesday, September 8, 2026.
About Stanley Black & Decker
Founded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company's approximately 43,500 employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world's builders, tradespeople and DIYers. The Company's world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: www.stanleyblackanddecker.com or follow Stanley Black & Decker on Facebook, Instagram, LinkedIn and X.
The Pentagon announced on Thursday a nearly $7 billion, up-to-10-year agreement with Oracle to consolidate the department's on-premises software licenses into a single contract, the latest move by the Pentagon's technology chief to cut costs by eliminating fragmented purchasing.
