SpaceX Corp (NASDAQ:SPCX) could be on the cusp of a major growth inflection for its Starlink satellite broadband business, with UBS arguing that the company's next-generation satellites and an unconventional ground-network strategy could significantly expand its reach.
Analysts expect SpaceX shares to continue trading on demand for tokens, reflecting the leverage it sees in the company as both a major cloud provider and a frontier-model player.
Nike Inc (NYSE:NKE, XETRA:NKE) shares fell 4.3% Monday to their lowest level since September 2014, extending a decline that has now wiped out more than $200 billion in market value since the stock's 2021 record high, a drop of 78%.
Soft direct-to-consumer sales and a fresh analyst downgrade weighed on the stock as it hovered near multi-year lows. Analysts project revenue will stay muted next quarter as the company continues working through a structural reset of its retail business.
Space company Rocket Lab (Rocket Lab USA Inc (NASDAQ:RKLB) has successfully launched eight satellite platforms built for MDA (TSX:MDA) Space to replenish Globalstar’s existing communications constellation.
The satellites launched on 15 August from Cape Canaveral Space Force Station at 9.12pm Eastern time, marking the first batch of 17 platforms Rocket Lab is building under a $143 million contract with MDA (TSX:MDA) Space.
Shares of memory and storage chipmakers climbed Monday morning after reports that the U.S. administration is discouraging domestic tech companies from buying conventional memory chips from Chinese suppliers.
Micron Technology Inc (NASDAQ:MU) rose 5.7%, while Sandisk jumped 8.7%. Western Digital Corp (NASDAQ:WDC) gained 5.4% and Seagate Technology Holdings PLC (NASDAQ:STX) added 1.7%.
New Era Energy & Digital (NASDAQ:NUAI) said it has secured construction permits for its Texas Critical Data Centers project, a milestone the company said reduces development risk at the site.
The company, which develops digital infrastructure and integrated power assets, received Development Structure and Drive Approach Permits from Ector County and submitted the Phase 1 plat to Ector County and the City of Odessa.
HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has signed a five-year GPU cloud services agreement with an investment-grade enterprise customer valued at approximately $350 million, as the company expands its artificial intelligence infrastructure business through wholly owned subsidiary BUZZ High Performance Computing.
The agreement is expected to generate approximately $70 million in annualized revenue and brings BUZZ HPC's total annualized revenue to about $180 million. That figure includes approximately $35 million in active, realized annualized revenue and $145 million in contracted revenue expected to come online through the fourth quarter of 2026.
Hutchmed (China) Ltd (AIM:HCM, NASDAQ:HCM, HKG:0013, FRA:H7T2) shares rose 4% to 192p after the biopharmaceutical company reported positive top-line results from a late-stage global trial of its lung cancer drug savolitinib.
The Phase III SAFFRON study tested savolitinib, sold as Orpathys, in combination with AstraZeneca PLC's (LSE:AZN, NASDAQ:AZN) Tagrisso in patients with a form of non-small cell lung cancer whose disease had worsened despite treatment.