Commerce Signs Its $1 Billion CHIPS R&D Award With IBM's Anderon. The Government's Release Runs to Two Sentences, and Neither Mentions the Equity Stake Promised in May
The Department of Commerce said on Sept. 16 it had signed a final CHIPS R&D award of up to $1 billion with Anderon, the IBM subsidiary building a 300mm quantum wafer foundry in Albany, N.Y. IBM says it is putting in a further $1 billion of its own. Neither document discloses milestones, a disbursement schedule, or how the 'minority, non-controlling equity stake' the Department attached to every quantum award in May applies to a wholly owned IBM unit.
More top stories
Infleqtion Says It Hit 30 Logical Qubits on 80 Atoms. Its Own Blog Says They Ran in a Distance-2 Code That Detects Errors Rather Than Correcting Them, and About a Quarter of Shots Came Back Right
IonQ Says Its Real-Time Error Decoder Adds as Little as 0.02% Delay. The Paper Ran on a MacBook Pro, Against Simulated Qubits, and Its Own Worst Case Is 11.53%
Pasqal's First Results as a Listed Company Came With a Resale Prospectus for 286.7 Million Shares Against 212.3 Million Outstanding. The Filing Assumes a $7.80 Conversion Price, and the Stock Was Last Reported Below It
Latest coverage
Infleqtion Says It Hit 30 Logical Qubits on 80 Atoms. Its Own Blog Says They Ran in a Distance-2 Code That Detects Errors Rather Than Correcting Them, and About a Quarter of Shots Came Back Right
The Sept. 24 release, furnished to the SEC under Regulation FD, meets the roadmap target the company set for 2026. The CTO's technical write-up puts the code at [[8,3,2]], the hit fraction at roughly 25% against a 1-in-4,096 random baseline, and the full paper 'in the coming weeks'.
IonQ Says Its Real-Time Error Decoder Adds as Little as 0.02% Delay. The Paper Ran on a MacBook Pro, Against Simulated Qubits, and Its Own Worst Case Is 11.53%
The Sept. 22 release announces an industry first for a decoder that runs on one off-the-shelf CPU. The underlying arXiv paper was posted Aug. 25, benchmarks a 2024 Apple M4 Max laptop on Stim-style simulations rather than trapped-ion hardware, and reports stretch of up to 11.53% at the higher of its two assumed error rates.
Pasqal's First Results as a Listed Company Came With a Resale Prospectus for 286.7 Million Shares Against 212.3 Million Outstanding. The Filing Assumes a $7.80 Conversion Price, and the Stock Was Last Reported Below It
First-half revenue was €4.9 million and the operating loss €59.2 million, with cash of about €312.9 million at Aug. 27. The resale prospectus dated Sept. 18 prices the $312.5 million convertible at its $7.80 floor, not the $12.00 headline, and the Sept. 24 supplement reports a last sale of $7.47.
SEALSQ's FIPS 140-3 Headline Is for a Chip With No Post-Quantum Algorithms. The Same Release Moves Its Post-Quantum Chip's First Lab Report From March to October
NIST Certificate No. 5463 covers the VaultIC408, a conventional AES, RSA and ECDSA secure element, and the company says so in its own text. The 'updated' QS7001 timetable puts the V1 hardware evaluation report in October 2026 and V2 in January 2027, against March and September in the timetable published in March.
AEye Signs a New $50 Million At-the-Market Facility Priced Off $1.23 a Share, Below Its Own $1.46 Net Tangible Book Value, on $202,000 of Quarterly Revenue. Selling the Whole Amount Would Add About 87% to the Share Count
The Sept. 15 agreement with A.G.P. replaces a 2024 facility and carries up to 3.0% commission plus up to 1.0% to Craig-Hallum. The prospectus discloses a $3.4 million arbitration award against the company. The June 10-Q shows the old facility had raised $70.4 million gross by June 30; sales after that date are not disclosed.
Axe Compute Finishes Its Turn From Cancer Diagnostics to GPU Rental by Selling Helomics for 636,328 DataMeds Shares and a $1.36 Million Note. No Cash Comes Back to the Seller, Which Also Pays the Buyer the Remaining Base Rent on Two Leases, and the Buyer Is a Micro-Cap That Renamed Itself in July
The Sept. 15 release calls the disposal the 'final chapter' of a transformation. The 10-Q behind it shows $3.2 million of second-quarter revenue against a $17.2 million net loss, most of it a $13.1 million loss on digital assets.
Knightscope Puts $27 Million of 'Estimated' Bookings in a Headline. About $17 Million of It Is the Company's Own Estimate of Orders Under a Contract With No Minimum Purchase, and the Release Landed a Day After a $35 Million ATM Top-Up Filed With the Last Sale at $1.14
The Sept. 22 release counts 109 contracts and awards across four months, but the two largest items are an estimate of future ordering under a master services agreement and a written award for which no definitive agreement or ordering document had yet been issued. The company says the figure is not revenue, backlog or remaining performance obligations, and it is not giving guidance.
Ondas Closes Three Defense-Tech Acquisitions for $56 Million Plus Up to $32 Million of Earn-Outs, Issues 7.8 Million Shares and Registers Them for Resale the Same Day. The Release Does Not Say How Much Was Cash
The Sept. 23 deals for Insignito, Ottopia Defense and Caribou Labs follow a $205 million purchase of GATE Technologies nine days earlier. The 'less than three times' revenue multiple rests on Ondas' own 2027 forecasts, and the targets' current revenue is not disclosed.
Quantum Stocks
Infleqtion Says It Hit 30 Logical Qubits on 80 Atoms. Its Own Blog Says They Ran in a Distance-2 Code That Detects Errors Rather Than Correcting Them, and About a Quarter of Shots Came Back Right
The Sept. 24 release, furnished to the SEC under Regulation FD, meets the roadmap target the company set for 2026. The CTO's technical write-up puts the code at [[8,3,2]], the hit fraction at roughly 25% against a 1-in-4,096 random baseline, and the full paper 'in the coming weeks'.
IonQ Says Its Real-Time Error Decoder Adds as Little as 0.02% Delay. The Paper Ran on a MacBook Pro, Against Simulated Qubits, and Its Own Worst Case Is 11.53%
The Sept. 22 release announces an industry first for a decoder that runs on one off-the-shelf CPU. The underlying arXiv paper was posted Aug. 25, benchmarks a 2024 Apple M4 Max laptop on Stim-style simulations rather than trapped-ion hardware, and reports stretch of up to 11.53% at the higher of its two assumed error rates.
SEALSQ's FIPS 140-3 Headline Is for a Chip With No Post-Quantum Algorithms. The Same Release Moves Its Post-Quantum Chip's First Lab Report From March to October
NIST Certificate No. 5463 covers the VaultIC408, a conventional AES, RSA and ECDSA secure element, and the company says so in its own text. The 'updated' QS7001 timetable puts the V1 hardware evaluation report in October 2026 and V2 in January 2027, against March and September in the timetable published in March.
IQM's LUMI-IQ Plan Targets Up to Nine Logical Qubits by 2029
The Nasdaq-listed Finnish builder published a three-stage upgrade plan for Finland's LUMI AI Factory. Every figure in it is a target, the endpoint is research scale, and no contract value was disclosed.
AI Small Caps
AEye Signs a New $50 Million At-the-Market Facility Priced Off $1.23 a Share, Below Its Own $1.46 Net Tangible Book Value, on $202,000 of Quarterly Revenue. Selling the Whole Amount Would Add About 87% to the Share Count
The Sept. 15 agreement with A.G.P. replaces a 2024 facility and carries up to 3.0% commission plus up to 1.0% to Craig-Hallum. The prospectus discloses a $3.4 million arbitration award against the company. The June 10-Q shows the old facility had raised $70.4 million gross by June 30; sales after that date are not disclosed.
Axe Compute Finishes Its Turn From Cancer Diagnostics to GPU Rental by Selling Helomics for 636,328 DataMeds Shares and a $1.36 Million Note. No Cash Comes Back to the Seller, Which Also Pays the Buyer the Remaining Base Rent on Two Leases, and the Buyer Is a Micro-Cap That Renamed Itself in July
The Sept. 15 release calls the disposal the 'final chapter' of a transformation. The 10-Q behind it shows $3.2 million of second-quarter revenue against a $17.2 million net loss, most of it a $13.1 million loss on digital assets.
Knightscope Puts $27 Million of 'Estimated' Bookings in a Headline. About $17 Million of It Is the Company's Own Estimate of Orders Under a Contract With No Minimum Purchase, and the Release Landed a Day After a $35 Million ATM Top-Up Filed With the Last Sale at $1.14
The Sept. 22 release counts 109 contracts and awards across four months, but the two largest items are an estimate of future ordering under a master services agreement and a written award for which no definitive agreement or ordering document had yet been issued. The company says the figure is not revenue, backlog or remaining performance obligations, and it is not giving guidance.
PDF Solutions unveils Exensio Aurora on a 25x speed target of its own, with no named customers and no outside benchmark
The Nasdaq-listed semiconductor analytics firm announced a re-architected Exensio platform on Sept. 9, built for petabyte-scale fab data and agentic AI. Its release says the new engine is "designed to deliver" roughly 25 times faster performance at comparable hardware cost - a design target rather than a reported measurement. No third-party validation is cited, and the product is a beta for a small number of early adopters rather than generally available.
Chips & Hardware
Aeluma Closes Fiscal 2026 With $582,000 of Fourth-Quarter Revenue, $56.0 Million of Cash and a CHIPS Letter of Intent That Would Hand Commerce Stock Worth the Whole Award
The Goleta photonics company reported on Sept. 16 that quarterly revenue fell to $582,000 from $1.3 million a year earlier while the net loss widened to $4.0 million, as it raised $20.1 million through its at-the-market programme. Its 10-K, filed the same day, says $183,000 of the year's $4.5 million revenue came from anything other than government contracts, and that the up-to-$30 million CHIPS award still needs definitive documents.
Commerce Signs Its $1 Billion CHIPS R&D Award With IBM's Anderon. The Government's Release Runs to Two Sentences, and Neither Mentions the Equity Stake Promised in May
The Department of Commerce said on Sept. 16 it had signed a final CHIPS R&D award of up to $1 billion with Anderon, the IBM subsidiary building a 300mm quantum wafer foundry in Albany, N.Y. IBM says it is putting in a further $1 billion of its own. Neither document discloses milestones, a disbursement schedule, or how the 'minority, non-controlling equity stake' the Department attached to every quantum award in May applies to a wholly owned IBM unit.
Quantinuum preprint reports a fault-tolerant architecture validated on its 98-qubit Helios processor
A preprint posted to arXiv on Sept. 2 and written up by Quantum Computing Report on Sept. 9 describes the [[20,2,6]] C4-Helix code running on Quantinuum's 98-qubit trapped-ion machine, with a repeated error-correction figure of 4.6x10^-5 per logical qubit per cycle. The results are error-rate and fidelity gains, not speed gains, and the paper has not been peer reviewed.
A Texas wafer house is now selling strontium titanate to quantum labs. Its launch contains no measured performance data
La Luce Cristallina's quantum-paraelectric STO-on-insulator platform ships today in 2-inch wafers, with 200mm promised for early 2027. The compound has a strong peer-reviewed cryogenic track record — but the record belongs to a different phase of the material, measured by somebody else.
Funding & Deals
Ondas Closes Three Defense-Tech Acquisitions for $56 Million Plus Up to $32 Million of Earn-Outs, Issues 7.8 Million Shares and Registers Them for Resale the Same Day. The Release Does Not Say How Much Was Cash
The Sept. 23 deals for Insignito, Ottopia Defense and Caribou Labs follow a $205 million purchase of GATE Technologies nine days earlier. The 'less than three times' revenue multiple rests on Ondas' own 2027 forecasts, and the targets' current revenue is not disclosed.
Navitas Is Buying $5 Million of Magnachip Stock at $3.42 a Share, a Premium to the Prior Close. The Filings Say Nothing About the Director Who Sits on Both Boards
Magnachip agreed on Sept. 18 to sell 1,461,988 new shares to Navitas Semiconductor for $5,000,000, with resale registration due within 30 days of closing and no lock-up, standstill or board seat in the agreement. Navitas's own second-quarter 10-Q calls Magnachip 'a related party' because director Cristiano Amoruso serves on both boards; neither company's Sept. 21 filing mentions it.
WithU, MyPass, CHI, Zondii: The Early-Stage Tech Bets Inside ASX: SCP
27 startups across AI, fintech, healthtech, regtech, cleantech and SaaS, sourced before the crowd, held through one ASX-listed share. This is what pre-IPO tech looks like when retail can actually buy it.
Qubic's CA$1.5M Ottawa Award Is a Contract to Buy Hardware, Not a Grant
The Sherbrooke and Waterloo spin-off will ship nine kinetic-inductance amplifiers under Innovative Solutions Canada's Testing Stream. The programme procures prototypes in order to test them, and its published per-contract caps sit below the figure reported.
Analysis
Pasqal's First Results as a Listed Company Came With a Resale Prospectus for 286.7 Million Shares Against 212.3 Million Outstanding. The Filing Assumes a $7.80 Conversion Price, and the Stock Was Last Reported Below It
First-half revenue was €4.9 million and the operating loss €59.2 million, with cash of about €312.9 million at Aug. 27. The resale prospectus dated Sept. 18 prices the $312.5 million convertible at its $7.80 floor, not the $12.00 headline, and the Sept. 24 supplement reports a last sale of $7.47.
Trio-Tech's Fiscal 2026 in Four Reports: Revenue Up 72%, Gross Margin Down From 25% to 17%, Operating Profit Gone, and a $24.2 Million Backlog of Which $9.1 Million Is Labelled 'Soft'
The Singapore-run semiconductor test house reported on Sept. 24 that fiscal 2026 revenue reached $62.6 million while the year ended with an operating loss of $204,000 and a net loss of $34,000. Lining up its four quarterly releases shows gross margin held between 16% and 19% all year against 23% to 27% a year earlier, and the 10-K says $9,054,000 of the year-end backlog is a three-month demand estimate rather than firm purchase orders.
Retail Was Locked Out of VC for Decades. One ASX Code Changed That.
Venture capital was invite-only. Scalare Partners (ASX: SCP) put it on the exchange: 27 early-stage tech companies, one share, 360% lodged revenue growth.
DARPA Reopened Its Quantum Entry Stage. The Stage A Ceiling Is $1 Million — and Two Deadlines Are in Play
DARPA reopened the entry stage of its Quantum Benchmarking Initiative in March, with full proposals for the Stage A QBIT topic due Sept. 30, 2026 — while the parent opportunity listing carries a Dec. 30, 2026 date. The agency's own briefing decks put the money on offer at up to $1 million for six months, and describe the programme as validation, not research funding.
More coverage
Retail Was Locked Out of VC for Decades. One ASX Code Changed That.
Venture capital was invite-only. Scalare Partners (ASX: SCP) put it on the exchange: 27 early-stage tech companies, one share, 360% lodged revenue growth.
WithU, MyPass, CHI, Zondii: The Early-Stage Tech Bets Inside ASX: SCP
27 startups across AI, fintech, healthtech, regtech, cleantech and SaaS, sourced before the crowd, held through one ASX-listed share. This is what pre-IPO tech looks like when retail can actually buy it.
DARPA Reopened Its Quantum Entry Stage. The Stage A Ceiling Is $1 Million — and Two Deadlines Are in Play
DARPA reopened the entry stage of its Quantum Benchmarking Initiative in March, with full proposals for the Stage A QBIT topic due Sept. 30, 2026 — while the parent opportunity listing carries a Dec. 30, 2026 date. The agency's own briefing decks put the money on offer at up to $1 million for six months, and describe the programme as validation, not research funding.
IQM's LUMI-IQ Plan Targets Up to Nine Logical Qubits by 2029
The Nasdaq-listed Finnish builder published a three-stage upgrade plan for Finland's LUMI AI Factory. Every figure in it is a target, the endpoint is research scale, and no contract value was disclosed.
Qubic's CA$1.5M Ottawa Award Is a Contract to Buy Hardware, Not a Grant
The Sherbrooke and Waterloo spin-off will ship nine kinetic-inductance amplifiers under Innovative Solutions Canada's Testing Stream. The programme procures prototypes in order to test them, and its published per-contract caps sit below the figure reported.
Quantinuum preprint reports a fault-tolerant architecture validated on its 98-qubit Helios processor
A preprint posted to arXiv on Sept. 2 and written up by Quantum Computing Report on Sept. 9 describes the [[20,2,6]] C4-Helix code running on Quantinuum's 98-qubit trapped-ion machine, with a repeated error-correction figure of 4.6x10^-5 per logical qubit per cycle. The results are error-rate and fidelity gains, not speed gains, and the paper has not been peer reviewed.
Analog Devices agrees to buy Alif Semiconductor for $1.35bn cash, plus up to $200m in contingent consideration
ADI said on Sept. 9 it will acquire the Pleasanton-based maker of edge-AI microcontrollers, in a deal it expects to close before year-end 2026, subject to customary conditions and expiry of the Hart-Scott-Rodino waiting period. The headline figure widely reported as roughly $1.4bn is $1.35bn of upfront cash plus a contingent amount that is not yet money in anyone's hands.
PDF Solutions unveils Exensio Aurora on a 25x speed target of its own, with no named customers and no outside benchmark
The Nasdaq-listed semiconductor analytics firm announced a re-architected Exensio platform on Sept. 9, built for petabyte-scale fab data and agentic AI. Its release says the new engine is "designed to deliver" roughly 25 times faster performance at comparable hardware cost - a design target rather than a reported measurement. No third-party validation is cited, and the product is a beta for a small number of early adopters rather than generally available.
Europe picked 13 quantum hardware startups. What they actually won is about €300,000 and four months
The EuroHPC Joint Undertaking's Quantum Grand Challenge is being announced by winners this week as a milestone in European quantum scaling. The Phase 1 award is a short roadmapping contract; the €30m of European Investment Bank venture debt behind it is something the companies still have to go and ask for.
A quantum hardware vendor and an HPC analyst say the bottleneck is software. Read the small print on who is asking
Alice & Bob and Hyperion Research have released the second report in their series, covered on Sept. 9, arguing supercomputing centres must fix the software stack before fault-tolerant machines arrive. It is a real gap, identified by real lab directors — and it is also the gap that most favours the company paying for the research.
A Texas wafer house is now selling strontium titanate to quantum labs. Its launch contains no measured performance data
La Luce Cristallina's quantum-paraelectric STO-on-insulator platform ships today in 2-inch wafers, with 200mm promised for early 2027. The compound has a strong peer-reviewed cryogenic track record — but the record belongs to a different phase of the material, measured by somebody else.
Four of the Nine May Quantum CHIPS Letters of Intent Became Signed $100m Agreements on a Single Morning
Rigetti, D-Wave, Quantinuum and PsiQuantum each announced signed Commerce Department agreements on Tuesday. The Rigetti and D-Wave announcements state the government takes a minority, non-controlling equity stake; Quantinuum's own release and the published PsiQuantum coverage do not mention one.
NEC Is Reported to Have Stopped Building Quantum Hardware. The Company Will Not Confirm It
Four trade outlets have relayed Japanese press reports that NEC ended in-house superconducting quantum hardware work. NEC declined to comment on whether it had exited, and its statement addresses applications and proof-of-concept work rather than hardware. Frontier Tech Wire has not seen the underlying Japanese reporting.
NLM Photonics Adds Pangaea and Mitsubishi Chemical's Venture Arm to Its Investor Base Without Disclosing an Amount
The Seattle organic electro-optic materials company says existing backers also increased their commitments. It has published no round size, no valuation and no close date, and its terabit-class device claims are demonstrations and customer samples rather than shipping product.
Gimlet Labs Raises $300m at a $3bn Valuation With Arm and Microsoft's M12. The 10x Speed Figure Is Scoped to One Configuration
Reports on Friday put a $300 million round at a roughly $3 billion post-money valuation, led by Andreessen Horowitz. The speed multiples attached to the news trace back to two March documents that state them with very different levels of qualification.
Novo Nordisk Foundation Sets Out a 5,300-Square-Metre Quantum Chip Plant in Copenhagen. The Release Puts No Price on the Building
The foundation's Friday announcement gives a size, an opening year of 2027 and a manufacturing scope, but no facility-specific investment figure and no qubit technology. The DKK 2.9 billion in the release is the foundation's total quantum commitment, not the cost of the plant.
The Argonne-JPMorganChase QAOA Result Hit the Quantum Wires This Week. The Peer-Reviewed Paper Was Published on June 16
Physical Review Letters published "Spin-Boson Mapping of the Quantum Approximate Optimization Algorithm" on June 16, 2026. Argonne's release came September 1 and the trade coverage September 3 — and the efficiency numbers everyone is repeating sit in the arXiv preprint, not in the press material.
IBM's Nighthawk r2 Runs 100,000 Circuits a Second - But the 25x Is Wall-Clock Speed, Not Qubit Quality
IBM's newest superconducting processor pairs every one of its 120 programmable qubits with a dedicated reset element, collapsing the dead time between circuit runs. The headline number is a throughput figure, and reading it as a leap in computational power would be a mistake.
A Rare Look at What People Actually Run on Quantum Hardware: 6-Qubit Circuits, Two-Minute Queues and Price Doing the Steering
Quantum Rings has published summer usage data covering six QPUs from four vendors. The median job is six qubits, most circuits the study could classify are benchmarks rather than applications, and the cheapest machine on the network took 57% of completed jobs. The data is the vendor's own, about its own platform.
IBM Ventures Backs a Company Selling Quantum Algorithms on Ordinary GPUs, as Quantum Money Moves Down the Stack
BQP took strategic money from IBM Ventures on 2 September, bringing total funding to $8m for a platform that runs quantum-derived solvers on customers' existing CPUs and GPUs. The same day, a four-person Toronto materials startup closed $2.6m to hunt for better superconductors.
IonQ, qBraid and NVIDIA Publicise a 54% Error-Rate Cut on Six Qubits. The Paper Is a Preprint, and the Number Is a Best Case
A trapped-ion experiment combining stabilizer verification with mid-circuit measurement reports up to a 54% lower logical error rate on a six-qubit Trotter step, in an arXiv preprint that has not been peer reviewed. The company blog's headline caveat tracks the paper's own abstract; the paper's results section is narrower than either.
Diffraqtion Caps a Pre-Seed at More Than $10m With Lockheed Martin and Sumitomo Venture Arms. Its 20x Resolution Claim Comes From Company Simulations
The Somerville, Massachusetts optical sensing startup has capped a pre-seed round backed by Lockheed Martin Ventures and Presidio Ventures, and says its next step is a fielded camera flown as a hosted payload. The company's headline resolution figure is a simulated result, and its quantum camera contains no qubits and no cryogenics.
SCREEN Holdings Takes On Neutral-Atom Optics for Japan's NEDO Programme. No Money, No Timeline and No Qubit Target Has Been Disclosed
The semiconductor equipment maker will jointly develop spatial light modulators and multi-wavelength objective lenses with the Kyoto University spin-out Yaqumo, under a Japanese state R&D project aimed at reducing reliance on overseas optical suppliers. It is a supply-chain agreement rather than a performance claim, and the parties have put no figures on it.
Xanadu Puts Calendar Years on Fault Tolerance. It Has Not Yet Put Papers Behind Them
The photonic quantum company told investors on Monday it expects fault tolerance in 2028 or 2029 and more than 1,000 logical qubits by 2031. The roadmap is dense with numbers, but every one of them is a target rather than a measured, published result, and the release cites no journal paper or preprint.
Two Answers to Quantum's Wiring Problem, and One Headline That Had to Be Corrected
QTREX says it can route 17,280 coaxial lines into each stage of a dilution refrigerator, and reissued the announcement 36 minutes later under a stronger headline without saying what changed. Diraq and Equinix, meanwhile, are putting eight qubits and under 20 kilowatts into a live Sydney data centre in October.
A EUR 2.6 Million Pre-Seed for the Cold Electronics Quantum Computers Keep Running Into
S-Transistors, a spinout from Finland's VTT, raised a pre-seed round led by Lifeline Ventures to build superconducting transistors that control qubits from inside the refrigerator. The cheque is tiny by AI-infrastructure standards, but it targets the same bottleneck that two much larger announcements ran into on the same day.
Pasqal Closes Its SPAC Merger With About $360m in Cash and Lists on Nasdaq as PSQL
The French neutral-atom quantum computing company completed its combination with Bleichroeder Acquisition Corp. II and began trading on August 28. Redemptions left it with roughly $360m rather than the $500m of gross proceeds originally anticipated, and the first-day percentage gain differs sharply depending on which reference price is used.
NSF Announces More Than $290m for Eight Quantum Institutes, With a New Princeton-Led Award Aimed at Fabrication
The US National Science Foundation announced on August 25 that eight Quantum Leap Challenge Institutes will collectively receive more than $290m, each award falling in a band the agency puts at roughly $28m to $37m over five years. The Princeton-led MARQUIS institute, at $27.9m, targets the materials and manufacturing bottleneck in superconducting processors; Yale's PRACTIQAL and Maryland's RQS are each reported at $37.5m, slightly above the top of the agency's stated band.
Xanadu and Mitsubishi Chemical Take EUV Photoresist Simulation Into Phase Two With Canadian and Japanese State Backing
The photonic quantum company said Canada's NRC IRAP and Japan's Strategic Innovation Promotion Program are supporting a second phase aimed at predicting radiation-induced blur in extreme ultraviolet lithography. No amount was disclosed for the new phase, and Xanadu's own US GAAP June-quarter accounts show a $42.1m net loss and $312.8m of cash and equivalents as of June 30, 2026.
Marvell Reports Record $2.739bn Quarter as Data Center Revenue Rises 46% Year on Year
The infrastructure chipmaker's fiscal second-quarter revenue landed $39.0m above its own guidance midpoint, and it guided to $3.150bn for the current quarter. GAAP diluted earnings of $0.33 sat well below the $0.94 non-GAAP figure.
IREN Reports a $702.6m FY26 Loss After $638.8m of Impairments, and Sets Out Two Tiers of GPU Financing
Revenue rose 41% to $707.0m for the year to June 30 while AI cloud services revenue grew from $16.4m to $128.8m. The swing to a loss came almost entirely from writing down decommissioned Bitcoin mining hardware.
Check-Cap Completes Its MBody AI Merger and Closes a $10m Share Sale, Trading on Nasdaq as MBAI
The company said the business combination closed on August 26 and that it sold 1,538,462 ordinary shares at $6.50 apiece. Former MBody AI holders hold about 81% of the shares outstanding, as restricted securities.
Nvidia Broke Out $14.8 Billion of Networking Revenue in Its April Quarter. The August Release Publishes No Split at All.
One quarter after separating data-center compute from networking, Nvidia's fiscal Q2 release gives Data Center as a single $89.0 billion narrative figure and no split at all — removing the coarsest public proxy the optics and interconnect supply chain had for attach rates.
IBM Closed Its HRL Laboratories Acquisition Wednesday Without Disclosing a Price — or a Single Spin-Qubit Fidelity Figure
IBM says the Boeing- and GM-owned Malibu lab gives it a second qubit modality alongside superconducting circuits. Neither the July announcement nor Wednesday's completion release publishes a qubit count, an error rate or a headcount.
Europe Picked 13 Quantum Startups for Its Grand Challenge. Phase 1 Pays About €300,000 Each for Four Months of Roadmap Work.
EuroHPC's selection spans cat qubits, trapped ions, photonics and silicon spin across eight countries. The headline venture-debt figure belongs to a second phase that has not started and is absent from the primary call documents.
Semtech Reports $341.9M in Fiscal Q2, $13.9M Above Its Own Guide, With a $101.4M Tax Benefit Behind the $1.59 GAAP EPS
Data-center revenue reached $100 million in the quarter and the October guide jumped to $410.0 million. But the headline GAAP profit came mostly from a tax line, and the company's FiberEdge market-share claim rests on no published third-party measurement.
Photonic's Peer-Reviewed QLDPC Paper Reports 2x and 3.5x Qubit Savings, Not the Preprint's 10x — and Its Aug. 25 Release Publishes No Number at All
The Nature Communications version of Photonic's SHYPS paper, published May 20, reports smaller qubit reductions than the arXiv preprint that is still widely quoted, and drops the preprint's headline pseudo-threshold comparison entirely. Tuesday's release gives neither set of numbers, uses the word "demonstrated," and does not say that every result is a circuit-level simulation.
Emerald AI Raises $150M Series A at a $1.05B Valuation With Nvidia, Siemens and GE Vernova; Its 100-Gigawatt Grid Claim Carries No Cited Source
The data-center power startup has now raised more than $220 million in total and counts twelve Fortune Global 500 companies as investors. Its release names the IEA for one headline statistic and no one at all for the other, and reports five commercial demonstrations without a single megawatt figure.
IonQ Says Its Laser Terminals Have Reached 84 On Orbit. It Published That Number Nineteen Days Earlier.
IonQ announced a milestone on Monday for Skyloom terminals aboard satellites that launched on July 16. The same count of 84 already appeared as a bullet in IonQ's August 5 second-quarter release, which did not break out what the business earns.
Semtech Reports After Tuesday's Close Against Its Own $328.0 Million Guide, With the Compal Sale Still Unclosed
The company guided to net sales of $328.0 million give or take $5.0 million for the quarter it reports on Tuesday evening. Everything else it guided to, including margins and earnings per share, was on an adjusted basis.
Quintessent Raises $40 Million for an Eight-Wavelength Comb Laser. What It Has Started Sampling Is an Evaluation Kit.
The Santa Barbara startup's Series A is led by Cycle Capital, with Ciena among the strategic backers. The proceeds are earmarked for sampling, reliability qualification and a manufacturing ramp, which is another way of saying volume production is still ahead.
Nebius's $5.0 Billion Convertible Notes Are Due to Settle Monday, Taking Its 2026 Convertible Issuance Past $9 Billion
Nebius Group priced an upsized $5.0 billion two-tranche convertible on Aug. 19 — $3.0 billion of 0.50% notes due 2030 and $2.0 billion of 4.50% notes due 2034 — with settlement expected on Aug. 24, subject to customary closing conditions, according to the company's release. Net proceeds were put at roughly $4.94 billion before a $750 million initial-purchaser option. Combined with the roughly $4.34 billion of convertible paper Nebius closed in March, the AI cloud operator has priced more than $9 billion of convertible debt in 2026 alone. As of Monday morning the company had not announced that the offering had closed.
Quantum X Labs Says Its AI Decoder Beat Google's Published Matching Benchmarks on One Configuration — the Aug. 21 Release Publishes No Error Rates
Quantum X Labs Inc. (Nasdaq: QXL), a Delaware-incorporated micro-cap formerly named Viewbix Inc., said on Aug. 21 that a decoder trained only on synthetic data outperformed Google's published correlated-matching and PyMatching results on the same surface-code configuration. The release cites no logical error rates, no code distance and no independent verification. Its 10-Q for the six months to June 30, filed Aug. 13, reported $646,000 of revenue from continuing operations, $2.435 million of cash and a going-concern warning.
Nvidia Reports Second-Quarter Fiscal 2027 on Wednesday Against Its Own $91.0 Billion Guidance, With the October-Quarter Outlook the Real Test for the Chip Complex
Nvidia set its results call for Aug. 26 at 2 p.m. Pacific for the quarter that ended July 26, 2026, according to a July 29 notice. The company guided that quarter to $91.0 billion in revenue plus or minus 2%, with non-GAAP gross margin of 75.0% plus or minus 50 basis points and no assumed Data Center compute revenue from China. An Investing.com preview dated Aug. 21 cited consensus of $91.9 billion and $2.08 in EPS, and an October-quarter consensus of $103.96 billion, without naming the firm that compiled either figure. Nvidia has not reported.
Micron plans $10 billion over a decade for a Boise memory research campus. Averaged across ten years that is about one-seventh of what the company spent on net capital expenditures in a single quarter this spring.
Micron Technology (Nasdaq: MU) unveiled Micron Research Labs on August 20, backed by what it calls a planned $10 billion investment over the next decade, with groundbreaking anticipated in calendar 2027 and a facility capable of hosting hundreds of researchers. For scale: Micron spent $7.084 billion on net capital expenditures in the quarter ended May 28, 2026 alone, and generated $18.304 billion of adjusted free cash flow, a non-GAAP measure, in that same three months.
Rigetti splits its engineering organisation in two and names a new COO and CTO. The delivery build-out lands against $5.1 million of quarterly revenue and a GAAP loss more than half made up of a non-cash warrant charge.
Rigetti Computing (Nasdaq: RGTI) said it has created a dedicated Systems Delivery organisation, moving David Rivas from chief technology officer to chief operating officer and promoting Andrew Bestwick to CTO, effective August 18. The company disclosed no customer names, no deployment counts and no dollar figures with the change. Its most recent quarter showed $5.1 million of revenue, a $52.6 million GAAP net loss that included a $29.6 million non-cash warrant revaluation, and $541.3 million of cash and investments.
Callosum raises a $100 million seed to route AI work across rival chips. Two things most of the coverage missed: the UK state fund named as an investor had its Callosum stake announced back in April, and the Cerebras quote came from strategy chief Andy Hock, not chief executive Andrew Feldman.
London-based Callosum said on August 20 it had raised $100 million (EUR 85.4 million) in a seed round led by Atomico, with Plural, DCVC and the UK Sovereign AI Fund participating, taking total funding to roughly $110 million. The UK government announced its equity investment in Callosum on April 16, 2026, as part of the first backings from its GBP 500 million Sovereign AI unit. Callosum is privately held; its flagship hardware partner Cerebras Systems has been listed on Nasdaq since May 14, 2026.
Wolfspeed Closes Fiscal 2026 With a $149.6 Million Quarter and a Gross Margin Still Below Zero
The silicon carbide maker reported June-quarter revenue of $149.6 million, a GAAP net loss of $145.4 million and negative gross margin on both reporting bases. According to a transcript account published by Investing.com, its finance chief put the annual revenue run rate at which gross margin would break even in the “ballpark” of $800 million.
A Record Analog Quarter and a Falling Chip Tape: Reading the August 19 Semiconductor Split
Analog Devices posted fiscal third-quarter revenue of $4.022 billion, up 40 percent year over year, with adjusted operating margin of 50 percent. In the same session 24/7 Wall St. reported Intel and AMD down about 4 percent and Broadcom about 5 percent at midday, even as long-dated Treasury yields declined and the broad tape held up. Those share-price moves are that outlet's intraday marks, not confirmed closes.
IonQ Joins Canada's Quantum Sandbox Provider List — Under a Non-Binding MOU With No Disclosed Payment
IonQ and CMC Microsystems said Tuesday they had signed a memorandum of understanding to make IonQ's trapped-ion systems available through the FABrIC Quantum Computing Sandbox. The release states the MOU is non-binding, obligates neither party to buy or supply anything, and can be terminated by either side. No payment to IonQ was disclosed.
Etched's Lead Investor Is Also Its First Customer. Jane Street Wrote the Cheque and Took Delivery of One Rack
A $700 million round at a $21 billion valuation, announced August 18, values the inference chip startup at roughly double where it was marked 26 days earlier. The disclosed customer-contract figure has not moved in seven weeks.
WhiteFiber Is Marketing Up to $287.5 Million of Converts, Partly to Retire Some of the $230 Million It Sold Seven Months Ago
The AI data center company proposed a new convertible on August 18 alongside a private exchange of its 4.500% notes due 2031. More than half the net proceeds of the January deal never reached the business.
POET Technologies Doubles Revenue and Sits on $796 Million as Lumilens Order Anchors AI Photonics Ramp
The Nasdaq-listed optical-engine maker reported second-quarter revenue up 112% and a narrowing loss on August 13, backed by a $400 million raise and a $50 million initial order from partner Lumilens.
Fabrinet's Record Quarter Held Two Nearly Equal Numbers: A $57.4 Million Thai Tax Charge and a $56.7 Million Investment Gain
The optical contract manufacturer closed fiscal 2026 with quarterly revenue of $1.316 billion, up 45% year over year, and non-GAAP earnings of $4.10 a share. Two of the items it excluded from that figure landed in the same quarter and almost cancelled each other out. The gap it has guided for the current quarter is more than two and a half times as wide.
AmpliTech Cuts Titan Crest Deal to $7M Days After Pulling Its $50 Million FY2026 Revenue Target
The Nasdaq-listed RF and microwave maker used a Monday release to recap a price cut on its 5G ORAN asset purchase and lay out a backlog and margin roadmap. It followed a Thursday earnings call on which management declined to reaffirm the FY2026 revenue figure it had restated as recently as May, the design package it is paying for has still not been validated for production, and the RFP it highlights has not been awarded.
Coherent Begins Sampling 300mm Silicon Carbide Thermal Substrates to Unnamed AI Semiconductor Partners
Monday's 4:05 p.m. Eastern announcement moves the 300mm silicon carbide platform "from internal development to customer evaluation," in Coherent's own words. It is a milestone in a qualification process, not an order, and it carries no customer, no volume and no timeline.
Duos Technologies and Axe Compute Sign Five-Year Agreements Reserving 55 MW of AI Data Center Capacity
The two Nasdaq-listed companies value the orders at over $500 million of aggregate contractual base payments across the initial five-year terms, with billing contingent on construction, testing and Axe Compute's written acceptance. Hours later, Duos reported a quarter that had closed seven weeks before the agreements were signed.
Quantum eMotion's Second-Quarter Revenue Works Out To C$1,479. The Accounts Are In Canadian Dollars; The NYSE American Quote Is Not.
The Montreal quantum random-number company furnished its June 30 interim report on Friday. Two things a US holder should fix before reading the headline numbers: the currency the accounts are kept in, and what the June quarter looks like once the March quarter is taken out of the half.
The Air Force Put $7 Million Into Quantum Research on the Civilian Power Grid. Infleqtion Is a Subcontractor.
Eaton disclosed a $7 million, 24-month Air Force Research Laboratory contract to test whether quantum computers can do grid contingency analysis. Infleqtion, one of two named collaborators, has not published the size of its own piece.
Lakeside Holding Is Now Quanome Technologies On Nasdaq, Six Months After A $1.00 Sale Of Its Freight Arm
Shareholders approved selling American Bear Logistics for one dollar to an unnamed, unaffiliated buyer that agreed to assume all of the unit's liabilities. The August 5 rebrand announcement names no acquisition, partner or contract.
New York Opened a $60 Million Quantum Hub Competition. The First Deadline Is Tuesday, and It Is Not the Proposal Deadline.
Empire State Development is putting up to $60 million behind as many as four regional quantum commercialization hubs, with applications due October 14. But the governor's release tells anyone interested to email Albany for an application by Tuesday, August 18. Applicants must hold 501(c)(3) status, and the trade press reading of the request for proposals says the grants pay for construction, equipment and furniture, not for the people who would run the hubs.
BTQ Ended Its Second Quarter With C$9,729,250 In Cash And No Cash-Flow Statement Behind It
BTQ Technologies (Nasdaq: BTQ; Cboe Canada: BTQ) established a C$150 million at-the-market equity program with Cantor Fitzgerald on June 18, in its own release and under its own prospectus supplement. Its August 14 corporate update discloses a single cash line, C$9,729,250, with no interim financial statements attached. Separately, the French Ministry for the Economy and Finance attached named conditions to the company's takeover of quantum-software firm QPerfect.
Semtech Is Selling Its Cellular Module Business For $62 Million. The Release Does Not Say How Big It Is.
Semtech (Nasdaq: SMTC) signed a definitive agreement on Aug. 13 to sell its cellular module business to Taiwan's Compal Electronics (TWSE: 2324) for $62 million in cash. The announcement discloses no revenue, no gain or loss and no headcount for the unit, and the 8-K index shows the report filed under Item 8.01 with the press release as its only substantive exhibit.
Pasqal's Nasdaq Vote Is Tuesday. Its $250 Million Convertible Buys $312.5 Million of Principal.
Bleichroeder Acquisition Corp. II shareholders meet Aug. 25 on a combination struck at a $2.0 billion pre-money equity value for the French neutral-atom quantum company. The filings show $250.0 million of subscriptions purchasing $312,500,000 of convertible bond principal — and a cash-to-balance-sheet line that is not all new money.
POET Technologies Booked $569,925 of Revenue and a $50 Million Purchase Order in the Same Quarter
The Toronto-based photonics company reported second-quarter revenue of $569,925 on August 13 and recapped, in the same release, an initial $50 million order from Lumilens that it first announced on May 14. Neither release says whether that order is binding or cancellable, or over what period any of it would be recognised as revenue.
We Checked the Quantum Sector's One-Month Tape. IonQ, Rigetti and D-Wave Are Up, Not Down
A claim circulating this month holds that the three largest listed quantum-computing pure plays fell about 30% over the past month. Measured against stamped closing prices from two independent providers, all three rose between roughly 26% and 33% from mid-July to Friday's close. The gains cluster on three specific sessions in early August, and only one of them has a catalyst we could verify.
Quantinuum Takes Its Hardest Engineering Problem to Taiwan's Quanta Computer
Quantinuum Inc. (Nasdaq: QNT) signed a collaborative development agreement on Aug. 13 with Quanta Computer Inc. (Taiwan Stock Exchange: 2382) to jointly design the hardware infrastructure underneath its future trapped-ion systems. No financial terms, qubit counts, system names, volumes or roadmap dates were disclosed. What was disclosed is a change of subject: from physics milestones to whether the machine can be built more than once.
Datavault AI's $94.5 Million All-Cash Offer for CyberCatch Does Not Say Where the Cash Is Coming From
Datavault AI said Friday it will pay USD $94,500,000, or $3.53 a share, in cash for TSX Venture-listed CyberCatch, a company that reported CAD $121,668 of revenue in its most recent six-month period and carries a going-concern warning. The release names no financing source. Datavault AI's last reported balance sheet, at March 31, showed $2.2 million of cash and equivalents, though it predates a roughly $60 million equity raise in May, and the company faces a Nasdaq minimum-bid-price deadline on August 24.
SEALSQ's Cash Is Most of Its Market Value — and the Company Has Published Two Different June 30 Numbers
A CEO letter puts cash and short-term investments at about $485 million as of June 30. Six weeks earlier, SEALSQ told the SEC the same date's figure was about $495 million. Both sit against a $599 million equity value and a business management guides to $27–36 million of 2026 revenue.
Same Program, Four Levels of Disclosure: What CHIPS Recipients Have Told Investors About the Government's Equity
Rigetti published a share-pricing formula. Infleqtion published a different one. D-Wave and Aeluma published none. All four are still waiting on definitive award documents that, as of Friday's close, none has said it has signed.
AIB Data Centers Puts 570 MW in Its Headline. Sixty-Five of Them Are Under Contract, and None Are Under Contract to a Customer
AIB Data Centers' second-quarter release leads with "approximately 570 MW of identified capacity potential." By the company's own wording, 505 MW of that sits across five sites where no definitive lease, purchase or development agreement has been executed — about 89% of the headline. Underneath it, quarterly revenue fell 39% to $2.9 million and gross profit flipped to a $(0.5) million loss.
Baird's $1,250 AMD Target Rests on Two Numbers That Only Multiply Against a Smaller Market
Robert W. Baird's Tristan Gerra doubled his AMD target to a Street-high $1,250 from $625 on July 24, the day after AMD's Advancing AI event — not on Friday, as several accounts of Friday's 6.5% rally implied. The model, as relayed by secondary outlets and never quoted directly, has AMD earning $147 billion of AI GPU revenue in 2030 at roughly 15% share. Against the $1.4 trillion 2030 accelerator market Lisa Su forecast from the stage a day earlier, $147 billion is 10.5%, not 15% — though the outlets disagree on what the 15% is a share of. Here is what each assumption would require against what AMD, Nvidia and Broadcom are actually shipping.
Fabrinet Monday, Analog Devices Wednesday: the week the AI hardware trade gets audited from the supply side
Fabrinet reports fiscal fourth-quarter results after Monday's close against its own guidance of $1.25bn to $1.29bn, with Nvidia and Cisco alone accounting for 45.8% of fiscal 2025 revenue. Analog Devices follows Wednesday morning carrying a very different signal: an industrial book that grew 56% year over year while automotive grew 2%.
Broadcom Falls 5.9% on a $370 Billion Number That Sources Cannot Define the Same Way Twice
Bank of America's credit desk cut Broadcom's issuer and bond ratings to Marketweight on Tuesday over its AI chip-leasing platform. By Friday the figure was on every wire — described as maximum residual value guarantee exposure in some accounts and as senior debt in others, sometimes by the same outlet. Those are not the same claim.
AAOI Closes Up 15.5% and Lumentum Up 5.2% in an Optics Rally No One Covering It Could Source
The reporter closest to Friday's move in AI interconnect names wrote that he could not verify a same-day catalyst, and neither could we. What the group did have: three earnings reports in the prior eight sessions and an FCC proposal that is still a draft.
JPMorgan's $2,250 Target on SanDisk Is Still Below the Stock's Own 52-Week High
Harlan Sur resumed coverage of SanDisk at Overweight on Friday and the stock added another 7%. The number he is underwriting is an EPS line, not a revenue line.
Blaize Grew Revenue 500% and Cut Its Year in Two Thirds. Memory Prices Did Both
The edge-AI chip company reported $12 million of quarterly revenue at an 8% gross margin, took full-year guidance from about $130 million to $40-43 million, and lost nearly half its market value.
Applied Materials Beat, Raised, and Sold Off: The Flat Gross Margin Inside a Record Quarter
Applied Materials posted record fiscal Q3 revenue of $9.115 billion and guided fourth-quarter revenue roughly $700 million above consensus, then fell in extended trading. The guide holds non-GAAP gross margin flat at 50.4% on a 12% sequential revenue increase — management's ramp costs, in one number.
Xanadu's Cancer-Therapy Quantum Partnership Discloses No Dollars. What It Does Disclose Is More Interesting
Xanadu and the University of Alberta announced a research collaboration on Thursday to build quantum algorithms for photodynamic cancer therapy. No funding, term or scope was disclosed — but the underlying resource estimates, and Xanadu's own second-quarter numbers, say a lot about where photonic quantum computing actually stands.
Most of Listed Quantum's $2.6 Billion Second-Quarter Loss Never Left the Building
Five US-listed quantum pure-plays reported about $2.61 billion of combined GAAP net losses on about $98 million of second-quarter revenue. At least $1.83 billion of that total is itemised in the companies' own releases and filings as non-cash: warrant remeasurement, stock compensation and fair-value marks that move with the share price rather than the bank balance.
Sandisk Puts a Number on the NAND Shortage, and the Memory Tape Reprices Again
Sandisk closed Thursday up 13.7% after an investor day that laid out margin targets through fiscal 2030 and a book of long-term supply agreements. Micron rose 4.2%. The rally is built on a supply forecast that management says stays tight into 2028 — a forecast, not a booking.
Cisco Booked $9.3 Billion of AI Orders and Lost 8.4% Anyway. The Margin Is the Message
Cisco beat on revenue and adjusted earnings, guided fiscal 2027 above consensus and raised its AI infrastructure ambitions. Shares still closed Thursday down 8.4%. The gap between order growth and gross margin is the read-through the whole AI networking supply chain now has to answer for.
Infleqtion's Revenue Doubled and Its Operating Loss Tripled. Both Numbers Are the Story
The neutral-atom company reported $12.6 million of second-quarter revenue, up 116%, and raised full-year guidance to about $43 million. GAAP operating loss went from $10.1 million to $30.6 million over the same year. A $582 million cash pile buys time; a Commerce Department letter of intent for up to $100 million comes with a stock component.
Quantum's New Trade: QUBT Spends Its Treasury on Chip Capacity, Not Qubits
Quantum Computing Inc. reported $5.6 million of second-quarter revenue against $21.8 million of operating expenses, and quietly stood up a second semiconductor facility through its NHanced acquisition. Ten days earlier IonQ closed its $1.8 billion purchase of foundry operator SkyWater, making vertical integration the defining capital allocation story of the sector's reporting season.
The Neocloud Repricing: CoreWeave and Nebius Beat, and Every Smaller GPU Host Gets Dragged Along
CoreWeave closed Wednesday up 19.28 percent and Nebius up 34.14 percent after both reported quarters that outran expectations on revenue and contracted capacity. The smaller converted-miner hosts rallied in sympathy, but they finance the same build-out on materially worse terms.
DARPA Quietly Reopens Its Quantum Benchmarking Program to New Entrants, With Stage B Verdicts Still Pending
The Pentagon's research arm has extended the deadline on a fresh Stage A call for its Quantum Benchmarking Initiative to 30 November, keeping the door open to architectures that were not among the 11 teams already through to Stage B. For listed quantum pure-plays, the money is small; the scorecard is not.
Cerebras closed up 12%, then gave it back after hours as two versions of its revenue diverged
The wafer-scale AI chipmaker reported $180.1 million of GAAP revenue and $209.9 million of what it calls core revenue for the second quarter. The $30 million gap, most of it a non-cash customer warrant charge, is why the same print looked like a beat and a miss at the same time.
Coherent beat and guided above consensus, and the stock still slipped after hours
The photonics maker closed out fiscal 2026 with $2.05 billion in June-quarter revenue and guided the September quarter above Street numbers. Shares rose 8.24% during Wednesday's session and then eased in extended trading, capping a week in which the whole AI-optics complex traded on expectations rather than results.
Quantinuum's first public quarter: $8 million of revenue, a $597 million loss, and a 28% stock jump
The Honeywell-rooted trapped-ion company reported Tuesday after the close, guided 2026 revenue to $28-$32 million and disclosed a deal to run its Helios system on Oracle Cloud Infrastructure. Shares closed Wednesday at $71.74, up 27.97%.
Applied Materials reports Thursday with options pricing a 10% swing
The equipment maker guided fiscal third-quarter revenue to $8.95 billion give or take $500 million. Options traders are positioning for a double-digit move, and the smaller names in the wafer-fab equipment chain will trade off whatever the company says about 2027 spending.
Utah's quantum executive order adds a state layer to quantum funding, without a check attached
Governor Spencer Cox created a Quantum Coordination Council by executive order this week, with a statewide landscape report due March 2027. No appropriation came with it, which is exactly the distinction investors in listed quantum companies should be tracking as states line up behind the sector.
Applied Optoelectronics books a record quarter and says AI optics demand will outrun its factories into 2027
Datacentre revenue more than doubled and the optics maker guided to a sharply higher third quarter, but GAAP gross margin still went backwards as the company spent to add capacity.
Ouster's lidar quietly becomes public infrastructure as Utah expands to nearly 300 intersections
A multimillion-dollar expansion won by partner Econolite pushes Ouster's BlueCity footprint across Utah roads, five days after a quarter that beat on revenue and missed badly on profit.
A pre-revenue London chip startup just raised $312 million at a $3.3 billion valuation to attack HBM
Olix Computing has tripled its valuation in six months on a photonic inference architecture that swaps high-bandwidth memory for on-chip SRAM — with no silicon shipped and no revenue yet.
Quantum Earnings Season Delivers a Split Verdict: IonQ Surges Past $80 Million as Rigetti and D-Wave Stay Small
A pivotal reporting week left the three most-watched pure-play quantum stocks telling very different revenue stories, even as all three continue to burn cash on the road to fault tolerance.
SoundHound AI Notches Record $61.9 Million Quarter and Lifts Full-Year Outlook as Voice AI Lands Bigger Deals
The voice-AI company's 45% revenue growth, improving margins and a raft of seven-figure enterprise wins sent shares sharply higher in one of the strongest small-cap AI prints of the season.
Quantum Goes Vertical: IonQ's $1.8 Billion SkyWater Deal Puts a U.S. Chip Foundry Inside a Quantum Company
The completed acquisition of the largest exclusively U.S.-based semiconductor foundry marks a new phase in which quantum players are buying — or building — their own hardware supply chains.
After the Reset: Retail Conviction Meets Wall Street Caution in Quantum and AI Small Caps
A brutal mid-summer drawdown, fresh bullish analyst initiations and stubbornly loyal retail traders have left the frontier-tech trade at a crossroads heading into the fall.
Quantinuum's First Report Card as a Public Company: $8 Million Quarter, $2.1 Billion War Chest and an Oracle Cloud Deal
Two months after the largest quantum IPO on record, the Honeywell-backed company delivered 279% revenue growth, steep losses and a Helios deployment inside Oracle Cloud Infrastructure in its maiden earnings release.
Quantum Computing Inc.'s Chip Bet Comes Into Focus: $5.6 Million in Photonics Revenue, Sold at a Loss
QUBT's second-quarter report showed a 91-fold revenue jump built on photonic chips and three semiconductor acquisitions — and a negative gross margin that shows how expensive it is to become a quantum chipmaker.
BigBear.ai Beats on Revenue as Defense AI Contracts Stack Up, With a $410 Million Cash Pile Pointed at M&A
The defense-focused AI company posted 13% growth, a nearly eight-point margin expansion and more than 20 new contract wins — and told investors it is now hunting for acquisitions.
DARPA Reopens the Door: Quantum Benchmarking Initiative Solicits New Entrants as 11 Companies Race Through Stage B
With proposals due September 30, the Pentagon's flagship quantum vetting program is expanding its 20-company field — a government stamp that has become one of the sector's most-watched investment signals.