
February 09, 2025
Nanoveu positioned to accelerate growth in AI-driven edge semiconductor solutions
Nanoveu Limited ("Nanoveu" or the "Company") (ASX: NVU), following on from its announcements on 15 October 2024 and 22 November 2024, is pleased to announce the completion of its binding Share Sale Agreement regarding its 100% acquisition of Embedded A.I. Systems Pte. Ltd. (“EMASS”), a leading System-on-Chip (SoC) semiconductor design company, following shareholder approval and completion of due diligence4. This transaction marks a key strategic moment for Nanoveu and adds cutting edge semiconductor technology to its suite of commercial offerings.
Highlights
- Nanoveu executes binding Share Sale Agreement regarding its 100% strategic acquisition of Embedded A.I. Systems Pte. Ltd. (“EMASS”), a System-on-Chip (“SoC”) semiconductor design specialist.1
- The acquisition is reinforced with the recent appointment of Mark Goranson2, an accomplished semiconductor CEO with extensive experience in scaling and commercialising semiconductor technologies who will lead Nanoveu’s new semiconductor division.
- Nanoveu to join a select group of ASX-listed semiconductor innovators, positioning the Company to participate in the growing global demand for ultra-low power, Edge computing and AI applications across numerous markets such as wearables, autonomous automobiles, drones, medical and smart home systems and Internet of Things (“IoT”) devices3
- Targeted Growth Roadmap for 2025:
- Advance Nanoveu’s EyeFly3D™ platform through integration of EMASS’s ultra-low-power SoC for real-time, glasses-free 3D conversion
- Pursue partnerships with wearables, drones, and IoT device manufacturers to commercialise EMASS’s leading Edge technology.
- Recruit top-tier semiconductor engineers to accelerate connectivity innovations and broaden addressable markets
- Enhance ultra-low-power capabilities for battery-powered devices, reducing energy consumption and carbon footprints
Financial G Strategic Rationale
- EMASS’s SoC solution to be embedded into Nanoveu’s EyeFly3D™ product to deliver faster, latency-free 2D- to-3D conversions on mobile devices without reliance on cloud processing to improve the user experience.
- By leveraging EMASS’s ultra-low-power architecture, Nanoveu can target broader IoT segments, including wearables and next-generation consumer electronics, sectors experiencing significant growth amid rising global demand for edge AI applications.
- With acquisition value tied to script and future performance milestones, shareholder interests are aligned.
Driving Innovation Under New Semiconductor Leadership
The acquisition is further reinforced with the major leadership addition at Nanoveu with the appointment of a semiconductor veteran, US-based Mark Goranson, to head the Company’s new semiconductor division (Nanoveu Semiconductor). Mr. Goranson drove hardware innovation for some of the world’s largest semiconductor companies and is experienced at forging strategic alliances. Mr Goranson will focus on integrating EMASS’s technology and accelerating commercialisation and partnerships.
Dr Mohamed Sabry Aly, Founder of EMASS, will remain involved with Nanoveu’s strategic vision, leading continued innovation in Nanoveu’s semiconductor and AI-driven technologies. Dr Aly brings a distinguished track record in hardware innovation, having led major semiconductor design initiatives, including a US$25 million project in Singapore and groundbreaking research at Stanford University that contributed to a US$75 million DARPA-funded program on emerging nanodevices.
Nanoveu Semiconductor CEO, Mark Goranson remarked: “With the current spade of AI technology coming from China, the underlying driver of these technologies underpins (SOC) offering. This will build market leadership for EMASS as we remain agnostic of current AI algorithms developed. We are seeking to redefine the limits of AI efficiency - 30 billion operations per second on just 2 milliwatts. That’s intelligence at the power level of a heartbeat. With up to 12 TOPs per watt, our ultra-low-power AI SoC is not just smaller and faster, in my opinion it’s the future of energy-efficient computing."
Competitive Landscape
By expanding into semiconductors, Nanoveu joins with notable ASX peers and international companies developing energy-efficient AI and edge computing hardware, an industry sector projected to see rapid growth due to the rising global demand for low-latency, high-performance devices. The EMASS acquisition positions Nanoveu alongside innovators driving ultra-low-power and edge-computing solutions such as Ambiq, Syntiant and ETA Compute.
Preliminary MLPerf Tiny v1.2 benchmarking of EMASS’s chipset underscores its strong performance, energy efficiency, and reliability, reflecting Nanoveu’s alignment with the next wave of AI and SoC innovation5. Its performance, energy efficiency, and reliability, highlights its capability to address ultra-low-power computing needs in this rapidly evolving sector.
Click here for the full ASX Release
This article includes content from Nanoveu, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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29 August
Tech 5: NVIDIA Results Rattle Investors, Trump Signals More Tech Deals to Come
Artificial intelligence (AI) stocks saw continued pressure this week as concerns about overvaluation weighed on the sector ahead of NVIDIA's (NASDAQ:NVDA) results release for its second fiscal quarter.
The company beat Wall Street projections on revenue, earnings and profits, but shares still fell in extended trading on Tuesday (August 26) after it reported no H20 sales to China, where competition from domestic firms is heating up.
John Murillo, chief business officer at B2BROKER, suggested the pullback could present a short-term buying opportunity for high-quality names with strong fundamentals, but cautioned that it could be the start of a broader correction.
“However, the long-term potential of AI can’t be ignored,” he told the Investing News Network, emphasizing his preference for top players like NVIDIA and Palantir Technologies (NASDAQ:PLTR) over smaller, debt-leveraged firms.
Reports that DeepSeek will train its newest AI models on Huawei chips and Cambricon Technologies' (SHA:688256) 4,300 percent revenue surge underscore the shifting AI landscape. Still, optimism wasn’t absent: NVIDIA CEO Jensen Huang pointed to accelerating global demand and unveiled a US$60 billion buyback program to reassure investors.
“All in all, the sector’s long-term trajectory remains bullish, with AI adoption accelerating across industries,” said Murillo.
Nasdaq Composite, NVIDIA and Dell Technologies performance, August 26 to 29, 2025.
Chart via Google Finance.
However, it wasn’t enough to reassure the public, and NVIDIA's share price fell over 4 percent between Wednesday (August 27) and Friday (August 29). As investors analyzed new inflation data that indicates tariffs are impacting prices, other AI-related stocks saw losses too, pulling the S&P 500 (INDEXSP:.INX) from its recent record highs.
With that, here's a look at some of the other drivers that shaped the tech sector this week.
1. Intel warns of adverse reactions to government equity stake
In a US Securities and Exchange Commission Form 8-K filing dated August 22, Intel (NASDAQ:INTC) warns that the federal government’s 10 percent stake in its business could cause “adverse reactions,” including litigation from investors, employees, customers, suppliers, partners and foreign governments.
The company also discloses a clause in the agreement that would raise the government’s stake to 15 percent if the company fails to meet set manufacturing thresholds.
Moreover, the filing states that, if this agreement prompts other government bodies to seek similar stakes, the varied agendas could diminish the voting power of other shareholders.
The comments come after the White House announced last week that it would take a 10 percent stake in the company in a deal worth around US$8.9 billion. On Monday, (August 25), President Donald Trump suggested he might pursue similar agreements with other American companies, posting on Truth Social:
“I will also help those companies that make such lucrative deals with the United States. I love seeing their stock price go up, making the USA RICHER, AND RICHER.”
Meanwhile, White House economic advisor Kevin Hassett told CNBC that the deal is part of a broader strategy to create a sovereign wealth fund that may include additional companies.
Later, during an interview on CNBC’s Squawk Box on Tuesday, Secretary of Commerce Howard Lutnick said Pentagon officials are considering acquiring equity stakes in leading defense contractors such as Lockheed Martin (NYSE:LMT).
2. Apple sets date to reveal fall product lineup
On Tuesday, Apple (NASDAQ:AAPL) invited media members and analysts to its next launch event, which is scheduled for September 9 at 10:00 a.m. PST.
The event, which will be live streamed from the iPhone maker's campus, is expected to be the venue for the introduction of the new iPhone 17 lineup and updated Apple Watch models.
The new iPhone series is rumored to include four models:
- iPhone 17
- iPhone 17 Pro
- iPhone 17 Pro Max
- A new iPhone 17 Air that will reportedly replace the iPhone 16 Plus. This new model is rumored to be exceptionally thin, potentially as slim as 5.5 millimeters, a major new design direction for Apple.
The new iPhones are also expected to feature a new "Liquid Glass"-based interface as part of iOS 26.
According to Bloomberg journalist Mark Gurman, who has a reputation for being one of the most accurate and prolific sources of leaks about Apple's future products, the company is planning three years of major iPhone redesigns, starting with the September release. Apple’s first foldable iPhone, code-named V68, is slated to arrive in 2026, according to Gurman. Apple's 2027 "iPhone 20" will feature curved glass edges to complement the upcoming Liquid Glass-based interface for iOS and other operating systems.
3. IBM, AMD to partner on quantum supercomputer
IBM (NYSE:IBM) and Advanced Micro Devices (AMD) (NASDAQ:AMD) said on Tuesday that they plan to collaborate to develop quantum-centric supercomputing.
The two companies, which have each fundamentally advanced the frontiers of quantum hardware and software, AI accelerators, CPUs and GPUs, said they will work together to “develop scalable, open-source platforms that could redefine the future of computing” by combining their strengths in quantum and high-performance computing.
“Quantum computing will simulate the natural world and represent information in an entirely new way,” said Arvind Krishna, chairman and CEO of IBM, adding that the firms' collaborative efforts will “build a powerful hybrid model that pushes past the limits of traditional computing.”
“We see tremendous opportunities to accelerate discovery and innovation,” said Dr. Lisa Su, chair and CEO of AMD.
In an interview with Axios, Jay Gambetta, IBM's quantum vice president, said he aims to get fault-tolerant quantum computers, a set of techniques and architectural designs that ensure a computation can proceed accurately even in the presence of errors, “by the end of this decade.”
4. Cost of Meta data center to exceed original estimate
During a cabinet meeting on Tuesday, Trump told reporters that Meta Platforms' (NASDAQ:META) Louisiana data center will cost the company around US$50 billion to build.
That's over 70 percent of the company’s projected CAPEX spending in its latest quarterly report.
“When they said US$50 billion for a plant, I said, ‘What the hell kind of plant is that?’” said Trump, revealing a photo of the proposed data center, Hyperion, superimposed over the island of Manhattan.
“When you look at this, you understand why it’s US$50 billion,” he added.
When the data center was announced, officials in Louisiana estimated the project would cost around US$10 billion. Meta has not confirmed this new estimate and declined to comment on Trump's remarks.
5. Fusion developer raises US$863 million for energy development
On Thursday (August 28), Commonwealth Fusion Systems, a leading nuclear fusion developer in the US, announced it has secured US$863 million in an oversubscribed Series B2 funding round.
Investors including Morgan Stanley (NYSE:MS) and NVIDIA contributed to this capital raise, which will facilitate the completion of Commonwealth's Spac fusion demonstration machine, as well as the commencement of construction on a new ARC power plant in Virginia.
“Investors recognize that CFS is making fusion power a reality. They see that we are executing and delivering on our objectives,” said the company’s CEO and co-founder, Bob Mumgaard. “This funding recognizes CFS’ leadership role in developing a new technology that promises to be a reliable source of clean, almost limitless energy — and will enable investors to have the opportunity to capitalize on the birth of a new global industry.”
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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28 August
NVIDIA Delivers Record Quarter as AI Demand Booms, but China Uncertainty Persists
NVIDIA (NASDAQ:NVDA) delivered another blockbuster quarter, reporting record revenue of US$46.7 billion for its second fiscal period as demand for artificial intelligence (AI) infrastructure continues to surge.
The chipmaking giant said sales rose 56 percent from a year earlier and 6 percent from the prior quarter, marking the ninth straight period of year-on-year revenue growth above 50 percent.
Meanwhile, NVIDIA's net income jumped 59 percent to US$26.42 billion from US$16.6 billion. Its adjusted earnings per share were US$1.05, beating analyst forecasts of US$1.01.
“Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap — production of Blackwell Ultra is ramping at full speed, and demand is extraordinary,” said founder and CEO Jensen Huang.
“The AI race is on, and Blackwell is the platform at its center,” he added.
The company’s data center division once again fueled growth as it generated US$41.1 billion in revenue, 56 percent higher than a year ago. Roughly US$33.8 billion of that total came from sales of NVIDIA's GPUs, while US$7.3 billion was from networking hardware that ties together large AI computing systems.
Sales of NVIDIA's Blackwell processors, launched in May, rose 17 percent quarter-on-quarter. The product line has quickly become the backbone of NVIDIA's data center business, accounting for a majority of the segment's revenue.
Wall Street reacts to NVIDIA results
Despite NVIDIA's strong numbers, company shares initially slipped in after-hours trading as some investors fretted about slower growth momentum in the data center division.
Regardless, the stock later pared its losses by turning positive on Thursday (August 28).
Overall, NVIDIA has surged 35 percent so far this year after nearly tripling in 2024.
NVIDIA performance, August 25 to 28, 2025.
Chart via Google Finance.
The company is guiding for revenue of US$54 billion, plus or minus 2 percent, in the October quarter.
However, that forecast does not assume any shipments of the H20, a chip that was designed for the Chinese market, but is currently sidelined by export restrictions.
Colette Kress, NVIDIA's CFO, told analysts the company could ship between US$2 billion and US$5 billion worth of H20 processors this quarter if geopolitical conditions allow.
No H20 sales to China
NVIDIA confirmed it had no H20 sales to China in its second quarter.
Instead, it benefited from releasing US$180 million in previously reserved H20 inventory to a customer outside of China, boosting reported revenue by US$650 million. The company previously said that the lack of H20 shipments cost it up to US$8 billion in potential sales in the second quarter alone.
Huang met with US President Donald Trump earlier this summer to lobby for licenses to export the H20, a chip that was developed specifically to comply with US trade restrictions.
Under a tentative deal, NVIDIA agreed to pay 15 percent of China H20 revenue to the US government in exchange for export approvals. However, the arrangement has yet to be codified into a formal agreement.
Blackwell and the China dilemma
Beyond H20, attention has shifted to NVIDIA's newest flagship processor, Blackwell.
On Wednesday’s (August 27) earnings call, Huang said there is “a real possibility” of bringing Blackwell to China.
“We just have to keep advocating the importance of American tech companies to be able to lead and win the AI race, and help make the American tech stack the global standard,” he said. Huang estimates that China represents a US$50 billion opportunity for NVIDIA this year, with growth of 50 percent annually. He argued it is better for Chinese AI firms to use NVIDIA chips, even if modified, rather than being forced to rely on domestic alternatives.
Trump, however, has expressed caution. Speaking at a press conference earlier this month, he said, “The Blackwell is super-duper advanced. I wouldn’t make a deal with that.”
However, he said he could allow a “somewhat enhanced in a negative way” Blackwell chip to be sold to China, further suggesting that such a version could be slowed by 30 to 50 percent to comply with US restrictions.
Even without China sales, NVIDIA maintains a bright outlook.
Huang told analysts the buildout of AI infrastructure is still in its early stages, further projecting that global spending on AI infrastructure could reach US$3 trillion to US$4 trillion by the end of the decade.
Furthermore, large cloud providers, which remain NVIDIA's biggest customers, have announced plans to spend tens of billions of dollars per quarter on AI infrastructure, ensuring a steady pipeline of demand for the company's chips.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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28 August
ResetData Creates New Public Sovereign AI Supercomputer in Australia
Australian cloud provider ResetData, part of Centuria Capital Group (ASX:CNI), has unveiled AI-F1, a public sovereign artificial intelligence (AI) supercomputer located in Australia.
AI-F1 offers onshore, high-performance AI computing resources for the government, academic and business sectors.
The multi-megawatt supercomputer allows customers to leverage NVIDIA's (NASDAQ:NVDA) NIM microservices, which are designed to work on machine learning and large language models.
According to the company, AI-F1 will be key to Australia's AI future. It will keep sensitive data within the country, ensuring that users “can compete globally while keeping their data protected and onshore.”
Over 350 people reportedly worked on completing the new supercomputer, with 12 full-time jobs created.
ResetData asserts that, at full capacity, AI-F1 will be the most powerful public GPU-cluster supercomputer in the country, exceeding the capabilities of current leaders like Gadi and Setonix.
Gadi is recognised as a reputable copilot for solar and renewable energy management, while Setonix is focused on accelerating scientific research in areas such as astrophysics, climate science and health sciences. Setonix is also said to be among the world’s most environmentally friendly supercomputers, a quality AI-F1 aims to emulate.
“AI-F1 utilises revolutionary liquid immersion cooling technology, delivering up to a 45 percent reduction in emissions, cutting operational costs by up to 40 percent compared to legacy data centres, and operating with zero wastewater,” ResetData elaborated. Cooling performance is 10 times better in one-tenth the floorspace of traditional data centres.
The supercomputer will be housed in a pre-existing building, ensuring minimal latency for critical applications.
Additionally, ResetData’s comprehensive AI Marketplace offers access to pre-built, pre-trained and NVIDIA-certified AI solutions, supporting industries ranging from accounting and legal services to retail, tech and engineering.
Celebrating with a competition
To celebrate the launch of AI-F1, ResetData has launched a competition for Australian innovators, startups, researchers and organisations. It is “designed to unlock the full potential of artificial intelligence and find solutions to critical challenges across health, housing, technology and sustainability.”
“We challenge entrants to think big,” said Australian comedian and tech commentator Adam Spencer, who will be part of the selection panel. “Could we see an Australian large language model? New ways to uplift our health and wellbeing, or new ideas to address housing affordability?”
Competition winners will be announced at the Sydney SXSW Festival, held from October 15 to 16.
The total prize package is valued at approximately AU$1 million, including up to 200 billion AI tokens and mentorship to realise the winning idea. Applications to the competition will be accepted until September 30.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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22 August
NVIDIA's Latest AI Chip Comes at Crucial Moment Before Earnings Report
Reports are circulating that NVIDIA (NASDAQ:NVDA) is quietly preparing a new artificial intelligence (AI) chip for China that would surpass the performance of its current H20 model.
The move comes as the US weighs how much access Chinese companies should have to American technology.
Two people briefed on the matter told Reuters that the chip, tentatively called the B30A, is based on NVIDIA's latest Blackwell architecture and is expected to deliver roughly half the computing power of the company’s flagship dual-die B300 accelerator card. Like the H20, the new chip is rumored to include high-bandwidth memory and NVLink interconnect technology, but would offer more power for Chinese clients.
NVIDIA has not confirmed the project, but according to Reuters said in a statement:
“We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow. Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use.”
US President Donald Trump last week said he is open to the possibility of more advanced NVIDIA chips being sold to China, though he stopped short of detailing specific policy moves.
When asked about the matter in a CNBC interview, US Secretary of Commerce Howard Lutnick acknowledged that NVIDIA Chief Executive Jensen Huang has been lobbying aggressively.
“Of course (Huang) would like to sell a new chip to China,” Lutnick said.
“I’ve listened to him pitch the president, and the president listens to our great technology companies, and he’ll decide how he wants to play it. But the fact Jensen is pitching a new chip shouldn’t surprise anybody.”
The Department of Commerce has declined to comment on the chip or the possibility of export license adjustments.
A critical earnings test
Currently, the semiconductor giant is preparing to report its Q2 earnings on August 27, an event widely seen as a litmus test of the growing AI boom that has propelled US equity markets since 2022.
NVIDIA is up more than 30 percent this year and roughly 1,400 percent since October 2022, cementing its place among the “Magnificent 7” mega-cap technology companies driving much of the S&P 500's (INDEXSP:.INX) gains.
Wall Street expects NVIDIA to post another blockbuster quarter, with earnings per share up 48 percent on revenue of about US$45.9 billion, according to LSEG data. In recent memory, NVIDIA has become a proxy for the AI sector as hyperscale cloud providers pour billions into new data centers powered by its chips.
The company’s dominance is reinforced by the ramp up of its new Blackwell B200 GPUs, which saw supply rise 40 percent in Q2 and could increase another 20 percent in Q3, according to estimates.
A key question hanging over NVIDIA's outlook is whether China will be part of its future guidance.
“If (NVIDIA) were to include China in its guidance, we believe it would contribute an incremental US$2-3 billion in revenue,” noted KeyBanc analyst John Vinh. KeyBanc has raised its Q2 revenue forecast to US$47.1 billion, ahead of Wall Street consensus, and lifted its price target to US$215 from US$190. The firm now expects NVIDIA to ship 30,000 units of its high-end GB200 rack systems this year, up from a prior forecast of 25,000.
However, the company still finds itself squeezed between surging demand from Chinese clients and tightening US restrictions. In addition to chip export restrictions imposed by Washington, NVIDIA is expected to continue paying a 15 percent levy on Chinese chip sales to the US government.
Despite the geopolitical overhang, investors remain overwhelmingly bullish on NVIDIA.
Morgan Stanley (NYSE:MS) recently called it the most undervalued mega-cap stock in the market, citing its strong position in AI accelerators and the growing appetite for AI-driven computing power across multiple industries.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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15 August
Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion
Tech stocks led Wall Street to a second consecutive week of gains as a series of data releases reignited optimism about a September interest rate cut from the US Federal Reserve.
A strong consumer price index report was the catalyst, renewing anticipation that the Fed will lower rates when it meets next month. While Thursday's (August 14) less optimistic producer price index report caused a momentary pause, the tech sector's resilience — or defiance — mitigated losses and kept momentum alive.
Here's a look at the key moments that shaped the tech sector this week.
1. US government strikes controversial Big Tech deal
On Monday (August 11), the Washington Post reported on a deal between the US government and tech giants NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (AMD) (NASDAQ:AMD). It stipulates that the tech companies must surrender 15 percent of revenue from Chinese sales of NVIDIA's H20 chips and AMD's MI308 chips.
Anonymous sources told the news outlet that this condition was imposed as a prerequisite for granting the companies export licenses to sell their products in China. The move that has prompted legal concerns among trade experts who say the fee could be construed as an unconstitutional trade tax.
“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export.”
AMD, NVIDIA and Intel performance, August 12 to 15, 2025.
Chart via Google Finance.
Meanwhile, shares of Intel (NASDAQ:INTC) rose as much as 4.6 percent on Tuesday (August 12) following a "candid and constructive" meeting between CEO Lip-Bu Tan and US President Donald Trump on Monday.
The meeting came after Trump called for Tan's removal last week.
According to a separate Bloomberg article, the US government is considering taking a stake in the chipmaker to help it establish a planned factory hub in Ohio; the company once promised it would be the world’s largest chipmaking facility. Tan has not confirmed or denied the report, but discussions are said to be ongoing. Sources told Bloomberg the government is considering using funds from the Biden administration’s Chips Act to fund the stake.
2. Amazon to expand grocery delivery services
Amazon (NASDAQ:AMZN) shares rose as much as 1.3 percent on Wednesday (August 13) after the commerce company announced plans to significantly expand its grocery services.
On Wednesday, the company said its same-day delivery service will now include fresh groceries, including produce, meat and dairy, in over 1,000 cities, with plans to expand into more than 2,300 by the end of the year.
The service is included in Amazon Prime memberships for orders over US$25. Smaller orders and orders from non-members will require fees of US$2.99 and US$12.99, respectively.
3. CoreWeave shares drop after mixed earnings report
Artificial intelligence (AI) data center operator CoreWeave (NASDAQ:CRWV) reported mixed Q2 results on Tuesday, with revenue more than doubling year-on-year to US$1.2 billion, beating estimates of US$1.08 billion, and a revenue backlog of US$30.1 billion. However, the growth came at a high cost. The company reported a record US$2.9 billion in capital expenditures for the quarter, and operating expenses jumped by 276 percent to US$1.19 billion.
CoreWeave performance, August 12 to 15, 2025.
Chart via Google Finance.
The company also reported losses of US$291 million, larger than the US$190.6 million analysts had estimated.
Shares of CoreWeave opened more than 10 percent lower on Wednesday and declined throughout the week, closing at US$99.97 on Friday (August 15) compared to Monday’s opening price of US$134.80.
4. Perplexity bids on Chrome, prepares for fresh funding round
AI startup Perplexity made a US$34.5 billion bid for Google's (NASDAQ:GOOGL) web browser, Chrome, in a move to secure its future in the AI search market. Perplexity told the Wall Street Journal that the unsolicited offer would be funded with the help of outside investors. The company's advance comes as Google faces a potential divestiture following an antitrust trial that found it had illegally monopolized online search and search advertising.
OpenAI has also expressed interest in acquiring Chrome.
On Thursday, Business Insider reported that Perplexity is preparing for another round of funding, which would mark its sixth fundraiser in 18 months. The company is reportedly seeking a post-money valuation of US$20 billion. This comes barely one month after the startup achieved a US$18 billion valuation.
The rapid succession of these events underscores the intense, high-stakes competition among AI startups to secure foundational assets and challenge established tech giants.
Canadian AI startup Cohere secured US$500 million in fresh funding on Thursday from a group of investors that included NVIDIA and AMD, bringing its valuation to US$6.8 billion. The company also onboarded former executives from Uber Technologies (NYSE:UBER) and Meta Platforms (NASDAQ:META).
5. Apple plans product expansion
Apple (NASDAQ:AAPL) shares climbed as high as 1.7 percent on Wednesday after Bloomberg reported on the company’s planned expansion into robotics, home security and smart displays.
The new products are aimed at strengthening Apple's product ecosystem, which has paled in comparison to offerings from tech rivals like Amazon and Meta.
Apple performance, August 12 to 15, 2025.
Chart via Google Finance.
Some of the new devices slated for future release include a tabletop virtual companion robot, a long-planned advanced Siri model with a visual personality, a smart speaker with display capabilities and home security cameras.
Apple finished the week at US$231.59, a 1.7 percent gain from Monday.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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