Technology News
Technology stock news including AI, semiconductors, cloud computing, and software. Coverage of Big Tech earnings, product launches, and sector trends.
BofA Boosts Snowflake Price Target to $205 Ahead of Q1 Earnings
Bank of America Securities raised Snowflake's price target from $195 to $205, signaling about 20% upside before its May 27 earnings report, citing growing AI business intelligence momentum.
Xanadu Shares Surge 20% as Quantum Sector Rebounds; Massive Share Overhang Persists
Xanadu Quantum Technologies shares surged 20.4% to $14.13 on Wednesday, recovering from a steep May decline as the broader quantum sector rallied. The company reported Q1 revenue of $2.83 million and a net loss of $20.6 million, with significant share overhang from a prospectus covering up to 293.7 million additional shares.
MicroAlgo Stock Rockets 40% on Quantum Algorithm News
MicroAlgo shares jumped 40% following news of a quantum image-processing algorithm, though no commercial deals or revenue forecasts were announced.
Applied Digital Secures $7.5B Lease, Revenue Backlog Hits $31B
Applied Digital secures a 15-year, $7.5B lease with a hyperscaler, lifting total contracted revenue to $31B. Shares rose 8% after hours.
UiPath Stock Edges Up Ahead of Q1 Report; Cloud Expansion in Korea
UiPath shares edged up 1% to $10.65 as tech stocks rebounded. The company announced Automation Cloud on Azure in South Korea and reported the death of board member S. Somasegar. Earnings are due May 28.
AMD Surges on AI Server Demand and Analyst Upgrades Ahead of Nvidia Results
AMD shares surged 7.3% to $444.24 on Wednesday, rebounding with the chip sector on AI server demand and analyst upgrades ahead of Nvidia's results.
Navitas Shares Rally on AI Power Chip Hopes, Revenue Still Tiny
Navitas Semiconductor shares surged over 15% as investors bet on its AI data-center power chips. Q1 revenue was $8.6M with a $27.8M loss; Q2 guidance points to $10M. The stock's rally hinges on converting design wins into sales.
Tesla Stock Climbs on Lithuania's Approval of FSD Software
Tesla shares rose approximately 2.5% to $414.10 after Lithuania approved its Full Self-Driving software, following the Netherlands.
BlackBerry Shares Hold Near Peaks on Renewed FedRAMP Certification
BlackBerry shares edged up 0.5% to $6.24 after its AtHoc platform secured a renewed FedRAMP High certification. QNX revenue rose 20% last quarter.
Archer Aviation Shares Steady Amid SEC Filings Highlighting Cash Use
Archer Aviation shares traded flat near $5.94 as SEC filings showed executive stock sales for tax withholding and plans to issue shares to vendors, highlighting cash burn with a Q1 net loss of $217.7 million.