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Palantir's Alex Karp Attacks Frontier AI Labs Over 'Marxist Overtones' After Record $1.9B Quarter

Palantir CEO Alex Karp escalated his criticism of frontier AI labs like OpenAI and Anthropic, accusing them of Marxist overtones and attempting to colonize enterprises. His comments came as Palantir reported blowout earnings with $1.9 billion in revenue, up 93% year-over-year, while advocating for AI sovereignty and enterprise autonomy in AI adoption.

Technology3 sources

Palantir's Alex Karp Attacks Frontier AI Labs Over 'Marxist Overtones' After Record $1.9B Quarter

Technology3 sources

ON Semiconductor Expects AI Data Center Revenue to Double in 2026 as Q2 Earnings Beat Estimates

ON Semiconductor reported second-quarter revenue of $1.6 billion, surpassing analyst expectations as demand for power management chips in AI data centers accelerated. CEO Hassane El-Khoury revealed the company prioritized AI data center customers over automotive clients, shifting manufacturing capacity to meet surging demand for intelligent power solutions.

Business5 sources

ON Semiconductor Expects AI Data Center Revenue to Double in 2026 as Q2 Earnings Beat Estimates

Business5 sources

Palantir Raises Revenue Forecast as AI Software Demand Drives 93% Growth in Q2 2026

Palantir lifted its annual revenue forecast to $8.15 billion after reporting 93% revenue growth in Q2 2026, driven by surging demand for its AI software. US commercial sales jumped 149% to $764 million as enterprises prioritize data sovereignty over reliance on frontier AI labs like OpenAI, Google, and Anthropic.

Business26 sources

Palantir Raises Revenue Forecast as AI Software Demand Drives 93% Growth in Q2 2026

Business26 sources

Amazon Joins $3 Trillion Club as AI Demand Powers AWS to Fastest Growth in Four Years

Amazon market capitalization surpassed $3 trillion for the first time, fueled by artificial intelligence optimism and Amazon Web Services revenue hitting $42.2 billion with 37% growth. CEO Andy Jassy raised capital expenditure projections to $220 billion as AI demand outpaces capacity.

Business7 sources

Amazon Joins $3 Trillion Club as AI Demand Powers AWS to Fastest Growth in Four Years

Business7 sources

SpaceX's $15.8 Billion AI Spending Shakes Investors Despite Strong Revenue in First Public Earnings

SpaceX disclosed massive AI infrastructure investments of $15.8 billion in its debut earnings report, causing shares to drop 10% despite beating revenue expectations. The company's AI revenue tripled to $2.56 billion as it pursues aggressive data center expansion plans, raising questions about profitability timelines.

Business36 sources

SpaceX's $15.8 Billion AI Spending Shakes Investors Despite Strong Revenue in First Public Earnings

Business36 sources

Intellect Q1 FY27 Revenue Surges 19% to ₹872 Cr as AI-First Banking Strategy Gains Momentum

Intellect Design Arena delivered robust Q1 FY27 results with revenue climbing 19% year-over-year to ₹872 crores, driven by strong demand for its eMACH.ai and Purple Fabric platforms. The Chennai-based FinTech firm's LTM PBT crossed the ₹500 crore milestone as 19 new customers chose its AI-first banking solutions, reinforcing its position as a global financial technology leader serving 500+ institutions across 62 countries.

Business2 sources

Intellect Q1 FY27 Revenue Surges 19% to ₹872 Cr as AI-First Banking Strategy Gains Momentum

Business2 sources

Kioxia Reports 45-Fold Profit Surge Driven by AI Demand for NAND Flash Memory

Japanese chipmaker Kioxia posted a staggering 45-fold increase in quarterly net profit to $5.3 billion, driven by AI-driven demand for NAND flash memory chips. Despite missing analyst estimates, the company announced an $800 billion buyback and 3-for-1 stock split while navigating intense competition from Samsung Electronics and SK hynix.

Business3 sources

Kioxia Reports 45-Fold Profit Surge Driven by AI Demand for NAND Flash Memory

Business3 sources

MediaTek Secures $5 Billion War Chest to Challenge Broadcom in AI Datacenter Chips Market

Taiwan's largest chip designer MediaTek approved $5 billion in financing to expand into AI datacenter chips, targeting 15-20% of an $80 billion market by 2027. The company expects its first custom AI chip to enter production in Q4 2026, with AI datacenter ASIC revenue projected to exceed $2 billion this year as it pivots away from a declining smartphone business.

Business4 sources

MediaTek Secures $5 Billion War Chest to Challenge Broadcom in AI Datacenter Chips Market

Business4 sources

Monolithic Power Systems stock surges 11% as AI server demand drives Enterprise Data revenue up 164%

Monolithic Power Systems stock jumped 11% in after-hours trading following strong Q2 results that beat Wall Street estimates. Revenue reached $980.6 million, up 47.6% year-over-year, driven by Enterprise Data segment growth of 164.3%. The chipmaker raised Q3 guidance and expanded share buyback authorization to $1 billion.

Business2 sources

Monolithic Power Systems stock surges 11% as AI server demand drives Enterprise Data revenue up 164%

Business2 sources

GoDaddy Stock Plunges 10.9% as Airo AI Transition Drags Bookings Despite Q2 Earnings Beat

GoDaddy shares tumbled 10.9% in pre-market trading after Q2 2026 earnings revealed the Airo AI-native platform transition created a 100-basis-point drag on bookings. Despite beating earnings estimates with $1.83 adjusted EPS, the company's narrowed annual revenue forecast and decelerating Applications and Commerce growth prompted a William Blair downgrade, highlighting near-term economic headwinds from the strategic AI shift.

Business4 sources

GoDaddy Stock Plunges 10.9% as Airo AI Transition Drags Bookings Despite Q2 Earnings Beat

Business4 sources

Microsoft Jumps 8% While Meta Tanks 8.5% as AI Investments Split Big Tech

Microsoft shares surged 8% after reporting 43% Azure cloud business growth and 30 million paid Microsoft 365 Copilot seats, validating its $190 billion data-center buildout. Meanwhile, Meta Platforms dropped 8.5% on softer revenue forecasts and increased AI infrastructure spending, highlighting diverging investor sentiment on AI strategies.

Business2 sources

Microsoft Jumps 8% While Meta Tanks 8.5% as AI Investments Split Big Tech

Business2 sources

Reddit CEO Steve Huffman Challenges Google AI Overviews as Referral Traffic Drops

Reddit CEO Steve Huffman criticized Google AI Overviews for failing to deliver the referral traffic that traditional search results once provided. Despite beating earnings expectations, Reddit's stock plummeted over 20% as investors worry about the platform's future amid changing web economics.

Business4 sources

Reddit CEO Steve Huffman Challenges Google AI Overviews as Referral Traffic Drops

Business4 sources

Reddit Reports Strong Q2 With $805M Revenue But Stock Drops 10% On AI Search Traffic Concerns

Reddit delivered impressive second-quarter results with $805 million in revenue and $253 million net income, beating Wall Street estimates. But shares plunged over 10% in after-hours trading after CEO Steve Huffman warned that search referrals had turned choppy, raising investor concerns about AI-powered search summaries eroding the platform's traffic from Google.

Business5 sources

Reddit Reports Strong Q2 With $805M Revenue But Stock Drops 10% On AI Search Traffic Concerns

Business5 sources

Lloyds Banking Group targets £2bn in cost savings through AI strategy, but bets against AI agents

Lloyds Banking Group has unveiled Accelerate 2030, a four-year AI strategy targeting £2bn in cost savings by 2030. CEO Charlie Nunn is betting on AI-driven automation to push the cost-to-income ratio below 45%, while simultaneously expanding cross-selling initiatives. The strategy reveals a paradox: the bank embraces AI for operational efficiency but its growth model assumes customers won't use agentic AI to compare financial products.

Business5 sources

Lloyds Banking Group targets £2bn in cost savings through AI strategy, but bets against AI agents

Business5 sources

Meta AI scans every public Instagram post as Zuckerberg unveils AI-generated content plans

Mark Zuckerberg revealed that Meta AI now scans every public Instagram post using large language models to improve content recommendations. The company plans to create an 'infinite universe' of AI-generated content as a third feed category, but investors remain skeptical as Meta's $130-145 billion AI infrastructure spending pushes profits down 14% despite revenue gains.

Technology2 sources

Meta AI scans every public Instagram post as Zuckerberg unveils AI-generated content plans

Technology2 sources

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