Technology News
Technology stock news including AI, semiconductors, cloud computing, and software. Coverage of Big Tech earnings, product launches, and sector trends.
Rigetti Computing Surges on $2B Federal Quantum Grant Program
Rigetti Computing shares surged 13.2% premarket Thursday following reports of a $2 billion federal quantum computing grant program, with $100 million earmarked for the company. Q1 revenue hit $4.4 million but operating losses expanded.
Nokia Shares Dip Despite AI Networking Lab Launch in California
Nokia shares slipped 0.7% to 11.650 euros in Helsinki on Thursday, underperforming the broader market, after the company launched an AI Networking Innovation Lab in Sunnyvale, California.
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.