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Draganfly Inc secures Army contract to develop AI-powered counter-drone system with F4 Defense

Draganfly Inc has been selected by DEVCOM Army Research Laboratory to develop a modular counter-drone system platform. The contract, awarded alongside F4 Defense International, focuses on creating technology to detect, identify, track, and defeat hostile drones. With the Counter-UAS market projected to exceed $20 billion by 2030, this win strengthens Draganfly's position in defense technology.

Technology2 sources

Draganfly Inc secures Army contract to develop AI-powered counter-drone system with F4 Defense

Technology2 sources

Intuit cuts 3,000 jobs while CEO insists workforce reduction had nothing to do with AI

Financial software company Intuit is laying off 17% of its workforce—roughly 3,000 employees—as it seeks to streamline operations and invest in AI capabilities. But CEO Sasan Goodarzi firmly denies the cuts are driven by automation, instead blaming organizational complexity and excess management layers. The move comes as Intuit's stock has fallen 41% this year amid concerns traditional software firms can't compete in the AI era.

Business16 sources

Intuit cuts 3,000 jobs while CEO insists workforce reduction had nothing to do with AI

Business16 sources

Baidu AI becomes core growth engine as cloud revenue surges 79% despite profit slide

Baidu reported first-quarter revenue of $4.65 billion, narrowly beating estimates as AI cloud infrastructure climbed 79% year-over-year. CEO Robin Li declared AI as the company's primary growth engine after AI-powered business exceeded half of general business revenue for the first time. However, net profit fell 55% amid ongoing investments in autonomous driving and chip development.

Business3 sources

Baidu AI becomes core growth engine as cloud revenue surges 79% despite profit slide

Business3 sources

Applied Materials raises outlook to 30% growth as chipmakers race to expand AI production capacity

Applied Materials has significantly upgraded its 2026 sales forecast, now expecting semiconductor equipment business to grow over 30% this year, up from a prior 20% projection. The chipmaking equipment giant beat Wall Street expectations with $7.91 billion in Q2 revenue and issued strong Q3 guidance, signaling that AI chipmakers are finally committing substantial capital to expand production capacity after initial hesitation.

Business3 sources

Applied Materials raises outlook to 30% growth as chipmakers race to expand AI production capacity

Business3 sources

Figma Q1 revenue surges 46% as AI credit system proves customers will pay for AI-powered design

Figma reported 46% revenue growth to $333.4 million in Q1 2026, accelerating from previous quarters. The design software company's stock jumped over 8% after enforcing AI credit limits in March, with more than 75% of high-tier users who exceeded free allocations continuing to purchase AI credits. The results suggest early traction in AI monetization despite competitive pressures from free tools like Google's Stitch.

Business4 sources

Figma Q1 revenue surges 46% as AI credit system proves customers will pay for AI-powered design

Business4 sources

Thrive Capital bets $100M on Shopify's AI commerce strategy as stock trades 46% below peak

Joshua Kushner's Thrive Capital has invested roughly $100 million in Shopify, framing the public-market bet as a wager on how AI will reshape commerce. The venture capital firm sees opportunity in the e-commerce platform's 40% stock decline this year, betting that AI-driven tools like agentic shopping will transform retail economics in ways the market hasn't yet priced in.

Business2 sources

Thrive Capital bets $100M on Shopify's AI commerce strategy as stock trades 46% below peak

Business2 sources

AMD EPYC captures record 46.2% server CPU market revenue share as Intel loses ground

AMD EPYC server processors achieved a historic 46.2% revenue share in the server CPU market during Q1 2026, marking an all-time high for the company. The surge was driven by explosive AI and data center demand, with AMD's data center segment generating $5.8 billion of its $10.3 billion total revenue. Meanwhile, Intel's market position weakened as AMD sold out every EPYC processor it manufactured.

Business2 sources

AMD EPYC captures record 46.2% server CPU market revenue share as Intel loses ground

Business2 sources

Foxconn Q1 Profit Jumps 19% as AI Server Demand Drives Revenue to $1.58 Billion

Foxconn reported a 19% increase in first-quarter profit to $1.58 billion, beating analyst expectations as AI hardware sales surge. The world's largest electronics manufacturer now generates nearly half its revenue from cloud and networking products, including AI servers for Nvidia and Amazon, marking its transformation from an iPhone assembler to a key player in the AI revolution.

Business3 sources

Foxconn Q1 Profit Jumps 19% as AI Server Demand Drives Revenue to $1.58 Billion

Business3 sources

Cisco cuts 4,000 jobs to reallocate resources towards AI despite record quarterly revenue

Cisco is laying off nearly 4,000 employees—about 5% of its workforce—despite posting record quarterly revenue and strong financial results. CEO Chuck Robbins says the cuts will fund strategic investments in AI, silicon, optics, and cybersecurity as the company shifts toward high-growth areas and responds to surging demand from hyperscalers.

Business17 sources

Cisco cuts 4,000 jobs to reallocate resources towards AI despite record quarterly revenue

Business17 sources

Nebius raises capex guidance to $25B as AI infrastructure demand surges through 2027

Nebius has increased its annual capital expenditure guidance to $20-25 billion, up from $16-20 billion, as the company accelerates investments to meet surging demand for AI infrastructure. The company's quarterly capex jumped to $2.5 billion, driven by GPU procurement and data center expansion, while CEO Arkady Volozh noted multiple customers are competing for every GPU brought online.

Business2 sources

Nebius raises capex guidance to $25B as AI infrastructure demand surges through 2027

Business2 sources

Tower Semiconductor signs $1.3 billion AI chip deals as silicon photonics demand surges

Tower Semiconductor landed $1.3 billion in silicon photonics deals for 2027, driven by surging AI chip demand for data centers. The Israeli contract chipmaker raised its Q2 revenue forecast to $455 million and nearly doubled operating profit to $64.57 million, while securing $290 million in customer prepayments. The company targets $2.8 billion in annual revenue by 2028.

Business3 sources

Tower Semiconductor signs $1.3 billion AI chip deals as silicon photonics demand surges

Business3 sources

Alibaba's AI and cloud revenue surges 38% as company sacrifices profits for AI growth

Alibaba reported a 38% jump in AI and cloud revenue to $6.1 billion in Q1, driven by surging business demand for AI. However, the Chinese tech giant posted an operational loss of $125 million as it prioritizes investments in AI and cloud infrastructure over short-term profitability. CEO Eddie Wu says AI-related product revenue now accounts for 30% of its Cloud Intelligence Group's revenue.

Business5 sources

Alibaba's AI and cloud revenue surges 38% as company sacrifices profits for AI growth

Business5 sources

MARA Reports $1.26 Billion Q1 Loss as Bitcoin Miner Pivots to Artificial Intelligence

MARA Holdings reported a $1.26 billion Q1 loss, more than doubling its year-ago deficit, as the Bitcoin miner sold $1.5 billion worth of BTC. The company is executing a strategic shift away from large-scale mining toward AI and high-performance computing infrastructure, acquiring a $1.5 billion power plant while cutting 15% of its workforce.

Business2 sources

MARA Reports $1.26 Billion Q1 Loss as Bitcoin Miner Pivots to Artificial Intelligence

Business2 sources

South Korea proposes AI profit tax to fund citizen dividend as chip giants post record earnings

A senior South Korean official has floated a controversial proposal to tax AI profits and redistribute them as a national dividend to citizens. The idea triggered sharp market swings, with the Kospi index plunging 5.1% before recovering after clarifications. The proposal highlights growing pressure to share wealth from the AI boom that's enriching Samsung Electronics and SK Hynix.

Policy4 sources

South Korea proposes AI profit tax to fund citizen dividend as chip giants post record earnings

Policy4 sources

GitLab announces layoffs and restructuring to accelerate AI agents strategy in agentic era

GitLab is cutting an unspecified number of jobs as it restructures around AI agents and automation. CEO Bill Staples insists the move differs from typical tech layoffs, with most savings reinvested into the business rather than returned to shareholders. The company plans to flatten its eight-layer management structure, reduce its country footprint by 30%, and reorganize R&D teams into smaller autonomous units.

Business3 sources

GitLab announces layoffs and restructuring to accelerate AI agents strategy in agentic era

Business3 sources

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