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RocketBoots
Investor Insight
RocketBoots is a high-growth investment opportunity with an AI-based scalable SaaS model, targeting a $2.4 billion+ market in retail and banking. With strong enterprise adoption, a significant customer site pipeline, and proven cost-saving solutions, ROC is well-positioned for global expansion and recurring revenue growth.
Overview
RocketBoots (ASX:ROC), an Australian innovator in AI-driven computer vision software products, is transforming the retail and financial services landscape. Evolving from its 2004 inception as an internet application consultancy, RocketBoots now stands at the forefront of AI-powered software, empowering businesses to optimize operations and elevate customer experiences.
RocketBoots' proprietary solutions leverage the combined power of machine learning, advanced analytics and cloud computing to deliver tangible results. The company’s technology tackles critical challenges, slashing operational costs, mitigating self-checkout losses and staff fraud, while simultaneously boosting service, sales and customer loyalty.
Real-world Impact, Proven Results
Deployed across major banks, large retail chains, and trialing with multinational enterprises, RocketBoots' impact is undeniable. Four contracted customers on multi-year terms, coupled with a growing pipeline of trials and opportunities, demonstrate the company's ability to deliver significant value.
$2.4 Billion+ Market Opportunity
Operating in a high-growth sector, RocketBoots targets a total addressable market (TAM) exceeding $2.4 billion across Australia, New Zealand, the United Kingdom, the European Union and North America. Its cloud-based platform enables seamless scalability, managing software deployments across global locations from its Sydney headquarters. RocketBoots utilizes a recurring revenue SaaS model, following a one-time activation fee, ensuring predictable and sustainable growth. Future expansion into new geographies and software portfolio additions promises further TAM growth.
Poised for Explosive Growth
With a global enterprise pipeline of over 35,000 retail and banking locations, RocketBoots is primed for significant expansion. The company is aggressively pursuing international growth, with the potential to secure contracts for over 10,000 sites from its existing nine customers who are already engaged in paid contracts, trials or evaluations for major/multi-year agreements.
Leadership and Innovation
RocketBoots is led by seasoned executives with deep expertise in AI, technology commercialization and financial markets. The company’s unwavering commitment to innovation, data security and enterprise-grade scalability mitigates key risks associated with new technology adoption.
Company Highlights
- Mission: RocketBoots empowers global retail and banking giants to slash operating expenses and losses while boosting service, sales and customer loyalty.
- Proven Tech: Validated internationally by top retailers and banks, RocketBoots’ AI-powered software delivers a strong ROI and fuels long-term customer retention. Demand is proven.
- The Advantage: The company’s flagship platform uniquely unifies loss prevention, workforce management, and customer experience — a game-changer for integrated store and branch operations.
- Expert team: Led by seasoned executives and AI specialists, RocketBoots has a strong track record of delivering its cutting-edge computer vision and machine learning software internationally.
- Scale Without Limits: The company’s hybrid cloud/on-prem architecture enables rapid scaling across thousands of locations without massive infrastructure investment or staffing increases.
- Explosive Growth Potential: With a more than 35,000-site global enterprise pipeline and nine international trials already completed or nearing completion (including multinational retailers), RocketBoots is primed for global expansion.
- Massive Market: The more than $2.4 billion addressable market (just retail grocery and branch banking in current territories) is only the beginning. The company is eyeing adjacent sectors, new geographies, and expanding its software portfolio.
Key Technology
RocketBoots provides a unique unified loss prevention, workforce management and customer experience software platform.
The company’s technology enables retailers to:
- Automatically detect potential theft at self-checkouts
- Automatically detect staff fraud at registers e.g. sweethearting
- Revolutionise workforce planning:
- Lower cost staffing with no service impact
- Improved service to reduce queue abandonment & lost sales
Rocketboots also enables retail banks to:
- Revolutionise omni channel workforce planning:
- Lower cost staffing with no service impact
- Improved service to reduce abandonment and lost sales
- Speed up digital channel customer response times by unlocking hybrid working opportunities through precise scheduling of branch staff latent capacity and idle time
- Computer vision – Analyzes live and recorded video feeds to detect, track and interpret human behavior, vehicle movement and in-store activity.
- A hybrid, highly scalable cloud/on-prem architecture that enables secure, remotely managed deployment across customer sites all over the world.
- Out-of-the-box user interfaces that show:
- SCO theft risk alerts
- Fraud risk alerts
- Real-time and historical service and workforce related analysis
- Future staff scheduling and rosters
- Edge computing – Reduces cloud bandwidth costs and enhances data security by processing video on-site while only syncing key insights to the cloud.
- APIs – Enables integration with enterprise systems such as POS (point-of-sale), workforce management and CRM (customer relationship management) platforms.
- Enterprise-grade security and compliance – Regularly penetration-tested and aligned with the security requirements of global banks and retailers.
Retail Applications
Reduce loss and staff costs whilst simultaneously improving customer experience and productivity.
Banking Applications
RocketBoots enables banks to materially reduce operational expenses whilst simultaneously improving customer experience, loyalty & NPS.
Leadership Team
Joel Rappolt – Chief Executive Officer
An experienced technology entrepreneur, Joel Rappolt joined RocketBoots in 2007 and has been CEO since 2013. He has led the company's transition from delivering app development services into developing software products that leverage machine learning, computer vision and IoT to solve longstanding business problems.
Robin Hilliard – Founder and Chief Technology Officer
Robin Hilliard founded RocketBoots in 2004 and has guided its evolution into a focus on computer vision research and software products. With over four decades of experience in software development, he has been the CTO since 2013.
Roy Mckelvie – Independent Chair and Non-executive Director
Roy Mckelvie is the chairman of Encompass Corporation, Wagesafe Limited and Infocus Wealth Management. He is the former CEO of Transfield Holdings and Gresham Private Equity, and previous managing director and Asian head of Deutsche Bank Capital Partners in Hong Kong .
Aaron Seeto – Chief Financial Officer
Aaron Seeto has more than 13 years of experience as an outsourced CFO for private and public companies across various industries, including technology, legal and financial services, and hospitality.
Karl Medak – Non-executive Director
Karl Medak has nearly 40 years of experience in the information and communications technology sector, having worked with organizations such as Telstra, Ericsson Australia and Lend Lease Communications. He co-founded The Frame Group in 2000 and has been a non-executive director of RocketBoots since 2007.
Cameron Petricevic – Company Secretary and Non-executive Director
Cameron Petricevic has more than 17 years of experience in the financial industry, with roles at AXA Asia Pacific Holdings and Acorn Capital. He is a partner at Kentgrove Equity Partners and has extensive experience in valuations, mergers & acquisitions and portfolio management.Superpowers for in-person service businesses using AI
Tech 5: NVIDIA Results Rattle Investors, Trump Signals More Tech Deals to Come
“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.
NVIDIA Delivers Record Quarter as AI Demand Booms, but China Uncertainty Persists
“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.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion
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.
Tech 5: Tesla Pulls Plug on Dojo, Chipmakers Largely Exempt from Trump's Tariffs
Markets appear to have disregarded the warnings, as economic data released this week has revived expectations for interest rate cuts. Stephen Miran, US President Donald Trump’s interim selection for Adriana Kugler’s position as chair of the Council of Economic Advisers, has further fueled these expectations. According to CME Group's (NASDAQ:CME) Fedwatch tool, traders now anticipate a nearly 90 percent probability of a rate cut next month.
Furthermore, exemptions to the Trump administration's tariffs for companies investing in US manufacturing capacity led to a midweek rally in tech stocks that persisted through to Friday (August 8).
1. OpenAI's busy week
On Wednesday (August 6), OpenAI unveiled the long-awaited GPT-5 version of ChatGPT, which CEO Sam Altman described as a “significant step” along the path to artificial general intelligence (AGI).
Altman declared that GPT-5 gives users PhD-level expert assistance on any subject, with fewer hallucinations, as well as superior coding abilities that could lead to an era of “software on demand."
“Something like GPT-5 would be pretty much unimaginable in any other time in history,” he said during a pre-briefing with journalists on Wednesday. While GPT-5 exhibits signs of broad intelligence, Altman clarified that it lacks a key characteristic of AGI: the ability to learn and improve autonomously.
Concurrently, OpenAI for Government announced it is partnering with the US General Services Administration to offer ChatGPT Enterprise to the federal executive branch workforce for US$1 per agency for the next year.
In a statement to Wired, Altman said the agreement was part of Trump’s Artificial Intelligence (AI) Action Plan, which is geared at leveraging AI to better serve the American people.
Additionally, the company reportedly engaged in early discussions this week for a secondary stock sale that would increase its valuation to US$500 billion. During an interview with Schwab Network, Ben Emons, chief investment officer and founder of FedWatch Advisors, said OpenAI’s valuation could hit US$1 trillion.
A recent report by the Information found that OpenAI has hit an annualized run rate of US$12 billion, roughly double the US$6 billion recorded in revenue in the first half of 2025.
OpenAI also introduced a pair of freely available models this week, which Amazon (NASDAQ:AMZN) will offer to cloud-computing clients.
2. Stocks react to chip tariff exemptions
Trump announced plans to impose a nearly 100 percent tariff on semiconductor chips on Wednesday, but carved out an exemption for companies investing in US manufacturing capacity.
After a meeting at the White House, Apple (NASDAQ:AAPL) CEO Tim Cook pledged an additional US$100 billion investment in US manufacturing capacity, bringing its total commitment to US$600 billion over the next four years.
However, final assembly is expected to remain overseas “for a while,” according to Cook, and the announcement did not include any mention of future iPhone assembly in the US.
Apple performance, August 5 to 8, 2025.
Chart via Google Finance.
The pledge led to a significant market reaction, with Apple shares climbing over 4 percent, leading gains on Wall Street.
Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also saw strong gains after it was reported that National Development Council Chief Liu Chin-ching told parliament that the company will be exempt since it has factories in the US, referring to fabrication plants currently under construction in Arizona.
However, he added that some of Taiwan’s chipmakers will be affected.
Likewise, South Korean trade officials stated that Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) will both avoid the tariffs due to their investments in US manufacturing facilities. Samsung has two chip fabrication plants in Texas, while SK Hynix is building a new advanced chip packaging and R&D facility in Indiana.
3. Firefly Aerospace makes explosive Nasdaq debut
Firefly Aerospace (NASDAQ:FLY) made a strong debut on the Nasdaq Global Market on Thursday (August 7).
The stock opened at US$70 per share, a significant jump from its initial public offering price of US$45.
After first targeting between US$35 and US$39 per share, the company raised the price from US$41 to US$43 on Tuesday (August 5). Firefly was valued at over US$2 billion after a Series D funding round in November 2024.
Its opening price represented a further increase. After briefly topping US$73.80, the company closed its first day on the market at US$60.35, raising US$868.3 million and achieving a valuation of approximately US$8.5 billion.
The company experienced a moderate pullback on Friday, opening at US$54.85 before briefly touching US$57.07; it then closed the week at US$50.17.
4. Tesla desbands Dojo team
Tesla (NASDAQ:TSLA) CEO Elon Musk confirmed reports that the company is disbanding its Dojo supercomputer team, posting to X on Thursday evening:
“It doesn’t make sense for Tesla to divide its resources and scale two quite different AI chip designs.
“The Tesla AI5, AI6 and subsequent chips will be excellent for inference and at least pretty good for training. All effort is focused on that.”
Tesla intended for Dojo to facilitate the training of its Autopilot and Full Self-Driving systems.
Sources for Bloomberg, which first reported the story, said Tesla will rely on partners like NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Samsung for chip manufacturing.
This move contradicts Musk’s commitments to “double down on Dojo” during his company’s second quarter earnings call on July 23. The development follows a letter sent to shareholders by two Tesla directors on Monday explaining the board's decision to grant Musk a US$23.7 billion stock award.
Robyn Denholm, chair of Tesla's board of directors, and Kathleen Wilson-Thompson, a director, said the decision was driven by Tesla's transition from electric vehicles to AI and robotics.
The letter emphasizes the critical need to motivate Musk, stating that his involvement is essential for attracting and retaining talent at Tesla, especially as competition for AI talent intensifies.
5. Palantir reports solid growth in Q2
Major software company Palantir Technologies (NASDAQ:PLTR) reported its Q2 earnings on Monday, revealing revenue growth of 48 percent to US$1.003 billion. Shares of the company opened over 7 percent higher on Tuesday and continued to rise, finishing the week up nearly 18 percent.
Palantir Technologies performance, August 5 to 8, 2025.
Chart via Google Finance.
“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage," said Alex C. Karp, co-founder and CEO of Palantir, in a press release. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50 percent year-over-year growth.”
Free cashflow rose by 282 percent to US$568.7 million. The company is projecting further revenue growth of around 49 percent in the third quarter. Its share price is up over 145 percent year-to-date after starting the year at US$76.20. As of Friday’s closing bell, shares of Palantir were trading for US$186.96.
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.
RocketBoots Investor Kit
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