Oracle’s Cloud Surge, $60 Billion Qualcomm-Amazon AI Deal and GE Aerospace Acquisition Lead Busy Week

Mumbai, Sept 12: The week saw a busy mix of earnings, mergers, strategic partnerships, defence contracts, IPO activity and corporate restructuring. Technology dominated investor attention, with Oracle reporting strong cloud growth and Qualcomm and Amazon exploring a $60 billion AI chip collaboration. Major transactions included GE Aerospace’s $11.75 billion acquisition of Consolidated Precision Products. Financial services also saw notable deals, while companies raised capital through equity, debt and private funding. 

AI Infrastructure, Semiconductors and Technology Deals Drive the Biggest Corporate Headlines 

Oracle’s Cloud Infrastructure Revenue Surges 121% 

Oracle delivered one of the week’s key signals for the artificial intelligence investment cycle after reporting fiscal first-quarter 2027 results on 10 September. Revenue rose 30% year-over-year to $19.35 billion, beating the $19.13 billion consensus estimate, while adjusted EPS reached $1.92 against expectations of $1.74. 

Cloud infrastructure remained the standout, with revenue surging 121% year-over-year, up from 93% in the previous quarter. Oracle’s remaining performance obligations reached $664 billion, while the company booked more than $30 billion in new AI cloud contracts, providing strong visibility into future revenue. 

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However, the expansion carries significant costs. Capital expenditure reached $28.5 billion, well above the $19.8 billion expected, while free cash flow was negative $5.4 billion, though better than the $9.5 billion consensus estimate. Oracle raised full-year EPS guidance by $0.05 to $8.10 and expects revenue of at least $90 billion. 

Shares initially gained 5%–7% premarket before giving up most gains and trading near flat. The muted reaction reflected investor focus on AI demand alongside rising infrastructure costs and the path to stronger cash flow. 

Qualcomm and Amazon Announce Potential $60 Billion AI Chip Deal 

Qualcomm and Amazon added another major semiconductor development through a multi-year strategic cooperation agreement announced on 9 September. The companies plan to jointly develop custom AI inference chips across multiple generations, as well as high-bandwidth optical interconnect solutions. 

The arrangement combines Qualcomm’s energy-efficient chip technology and semiconductor design expertise with Amazon Web Services’ AI infrastructure, including Amazon Bedrock. The companies are targeting AI inference, an increasingly important part of the market as organisations move from training AI models towards deploying them in commercial applications. 

Qualcomm granted Amazon warrants to purchase common stock at a fixed exercise price of $161.26 per share. Amazon initially received 3.75 million warrants, while total issuance could rise to 25 million shares if Amazon’s procurement of server chips, technology and services reaches up to $60 billion over the next decade. Full exercise of the warrants could give them an aggregate value of approximately $4 billion. 

Qualcomm shares rose sharply, trading at around $179.63 by midday, up approximately 3.2% from the previous close of $174.09. The stock reached an intraday high of $183.49, more than 8% above Friday’s close, before moderating. 

The Amazon relationship is strategically important as Qualcomm attempts to reduce its dependence on smartphones. Apple’s increasing use of internally developed chips and Samsung’s greater use of Exynos processors have increased competitive pressure in handsets. Qualcomm is therefore building its data-centre business and has set a target of $15 billion in data-centre revenue by 2029. 

Palantir, Nebius and Rackspace Expand AI Infrastructure 

Palantir Technologies and Nebius Group strengthened the AI infrastructure theme through a strategic partnership. Palantir selected Nebius as its preferred sovereign AI infrastructure partner and plans to integrate Nebius cloud and AI computing resources with its enterprise platform. 

Palantir shares traded around $171.80, down 1.45%, while Nebius gained 9.64%. The partnership reflects growing demand for sovereign AI infrastructure among organisations that want greater control over their data, computing resources and AI workloads. 

Rackspace Technology added another development by joining the NVIDIA Cloud Partner Program. The company plans to combine NVIDIA Blackwell computing with Palantir software, expanding its offering for enterprise AI workloads. Rackspace shares traded around $3.24. 

Verizon and Corning Strengthen Fibre Infrastructure; Apple Enters the Foldable Smartphone Market 

The AI infrastructure expansion also extended into telecommunications. Verizon and Corning signed a multi-billion-dollar agreement covering more than 80 million miles of high-density optical fibre and connectivity solutions from 2027 through 2032. 

The fibre will support broadband expansion while helping create the long-haul backbone required by AI hyperscalers. Verizon is targeting between 40 million and 50 million broadband passings. 

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Corning shares surged more than 8% intraday to approximately $165.70, while Verizon shares gained around 1% to $50.51. Apple provided a separate technology headline by introducing the iPhone Duo, its first foldable iPhone. The device features a 7.6-inch inner display and a 5.4-inch outer display and runs on the A20 Pro chip and iOS 27. It also incorporates Apple Intelligence and Siri AI features. 

Apple shares traded around $325.37, up 3.18%. The launch gives Apple a new product category as smartphone manufacturers compete to create premium devices that can support higher average selling prices and renewed upgrade demand. 

Aerospace, Banking, Payments and M&A Reshape Corporate Strategies 

GE Aerospace Agrees to $11.75 Billion CPP Acquisition 

GE Aerospace agreed to acquire Consolidated Precision Products from private investment firms Warburg Pincus and Berkshire Partners for $11.75 billion. GE Aerospace plans to finance the transaction with approximately $7 billion in cash, with the remainder funded through new debt. 

The deal values CPP at roughly 18 times 2027 EBITDA including expected net synergies, or approximately 26 times without synergies. GE Aerospace expects the acquisition to be accretive to adjusted EPS and free cash flow in its first year and said it would not change its existing capital allocation plans. 

CPP, headquartered in Cleveland, employs approximately 6,600 people across more than 20 facilities worldwide. The company ranks among the largest producers of investment and precision sand castings, which serve the aerospace manufacturing industry. GE Aerospace has worked with CPP as a customer for more than 15 years. 

The acquisition will strengthen GE Aerospace’s control over a strategically important portion of its supply chain. The transaction is expected to close in the second half of 2027, subject to regulatory approvals. Investors will therefore focus on the integration process, financing and the company’s ability to achieve the projected synergies. 

Chime Moves Towards a Banking Model With $590 Million Stride Deal 

Financial services experienced major structural changes after Chime Financial announced a $590 million all-cash acquisition of Stride Bank, N.A., its long-term banking partner. 

Stride will be renamed Chime Bank and become a wholly owned subsidiary of Chime. The transaction would transform Chime’s operating model by allowing it to function as a licensed bank rather than relying to the same extent on external banking partners for deposits and lending. 

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Chime expects approximately $100 million in net synergies, mainly from reducing partner dependence and lowering funding costs. The company also raised its third-quarter revenue guidance to $705 million, up from its previous $680 million-$690 million range. Full-year revenue guidance increased to $2.76 billion-$2.77 billion. Chime shares gained 6.8% to approximately $34.52 after rising more than 11% in premarket trading. 

EverBank and WaFd Announce $3.9 Billion Combination; Copart to Acquire ACV Auctions for $1.9 Billion 

EverBank Financial announced a $3.9 billion reverse merger with WaFd, with EverBank merging into WaFd, which will remain publicly traded and change its name to EverBank Financial Corp. The combined company will trade on Nasdaq under EVBK. EverBank shareholders will own approximately 59.2%, while WaFd shareholders will retain 40.8%. The deal is expected to close in early 2027 and could lift WaFd’s 2027 EPS by roughly 29%. The combined business will have about $75 billion in assets, with tangible book value dilution expected to be recovered in less than two years. 

In the automotive marketplace sector, Copart agreed to acquire ACV Auctions for $10.50 per share in cash, valuing the deal at about $1.9 billion. The offer represents a 45% premium to ACV’s unaffected closing price on 10 August. ACV shares jumped 44.3% to $10.42, nearing the offer price. 

Copart shares initially gained about 7% premarket but later fell and closed near $30.75, down roughly 4%. Its quarterly results showed revenue of $1.152 billion, while diluted EPS of $0.35 missed the $0.39 consensus. 

Circle Expands Cross-Border Payments Through Tazapay; Blackstone Expands Data-Centre Infrastructure Exposure 

Circle Internet Group agreed to acquire Singapore-based Tazapay, a B2B cross-border payments infrastructure company handling more than $25 billion in annualised payment volume across over 100 markets. About 60% of its transaction volume already involves stablecoins, giving Circle an established channel to expand stablecoin-based payments and USDC distribution. The deal is expected to close in 2027, subject to regulatory approvals. Circle shares fell 5.46% to $96.48. 

Blackstone agreed to acquire Flow Control Holdings (FCH) from Audax Private Equity. FCH supplies engineered flow-control components used in data-centre liquid cooling and industrial applications, including coolant distribution units, in-row manifolds and secondary fluid networks. Audax will retain a minority stake, while financial terms were not disclosed. During its four-year ownership, FCH completed 10 acquisitions. The transaction is expected to close in the fourth quarter. Blackstone shares declined 1.94% to $126.55. 

Healthcare and Real Estate Deals Add to M&A Activity 

Axogen agreed to acquire BioCircuit Technologies for $200 million. The deal adds NerveTape, an FDA-approved sutureless device designed to help surgeons align and connect transected peripheral nerves without microsutures. Axogen plans to fund the transaction through a public offering expected to raise approximately $208.7 million. The deal is expected to close in the fourth quarter of 2026. Axogen shares fell 9.94% to $42.57, reflecting concerns around the financing and potential dilution.  

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SKYX Platforms announced a merger agreement to acquire smart-home technology company Deako. SKYX will issue 25 million common shares to Deako shareholders, representing approximately 18.46% of the company. It will also pay Deako’s lender $4 million at closing and issue an $8.5 million note. 

Deako has shipped more than 32 million units over the past five years and generated more than $26 million in revenue in 2025. SKYX shares fell 7.15%. The real estate sector produced a more positive reaction after Centerspace announced an all-stock merger with Independence Realty Trust. The combination will create a residential REIT with an enterprise value of approximately $8.1 billion. Centerspace shareholders will receive approximately 3.8 IRT shares for each Centerspace share. 

Centerspace shares gained more than 8%, trading between approximately $68 and $72 during the session. The combination would create a larger apartment-focused platform across the Midwest and Mountain West. 

Olin and Huntsman also moved closer to completing their proposed merger after the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired. Shareholders of both companies had already approved the transaction on 25 August. Olin shares fell 0.86% to $17.31, while Huntsman declined 0.52% to $9.53. 

Defence Contracts, Earnings and Capital Markets Create Sharp Stock Moves 

Palantir and Anduril Secure $192 Million TITAN Production Contract 

Defence and government technology contracts remained a major source of corporate activity. The US Army moved its Tactical Intelligence Targeting Access Node programme from prototype development to full production and awarded a combined $192 million contract to Palantir Technologies and Anduril Industries. 

Palantir will receive $127 million and serve as prime contractor, while Anduril will receive $65 million. The companies will produce and deliver eight next-generation TITAN ground stations over the next 18 months. The contract adds to Palantir’s growing defence exposure and reinforces its role in US military technology programmes. 

Defence Orders Boost AeroVironment and Support Lockheed Martin 

AeroVironment delivered one of the strongest defence-related market reactions of the week. Fiscal first-quarter revenue reached $480.5 million, up 6% year-over-year from $459.9 million. Non-GAAP EPS increased 84% to $0.59. 

Funded backlog rose 37% to a record $1.5 billion, while total backlog reached $2.8 billion. The company also secured a $464.8 million US Army LOCUST X3 laser counter-drone contract. AeroVironment shares climbed approximately 11% to $156.24 on 10 September. 

Lockheed Martin also received several US government awards. The company secured a $96 million GPS Control Segment II order and a $105 million Contingency Launch Operations System order supporting GPS IIIF. It also received a $126.9 million HH-60W initial spare-parts contract. 

Accenture Federal Services was named for a potential $480.4 million US Army JETMS contract. The programme includes a one-year base period and options extending to August 2032. It aims to replace legacy task and correspondence systems across the Department of Defence with an AI-centric solution serving up to 200,000 users. Accenture shares rose approximately 1.2% to $177.91. 

Other defence-related awards included a more than $32 million US Department of War order received by Gilat DataPath for Multi-Band DKET systems, a three-year US government radio-frequency engineering and modernisation contract for KBR, and a $7.3 million US Marine Corps contract for Rheinmetall’s 12 Mission Master SP unmanned ground vehicles. 

Retail and Consumer Earnings Produce Mixed Signals 

Kroger reported second-quarter adjusted EPS of $1.09, ahead of the $1.06 consensus. Revenue reached $34.6 billion, close to expectations of $34.65 billion and up 2.1% year-over-year. However, identical sales excluding fuel rose only 0.2%, missing expectations. Kroger also reduced its full-year identical-sales forecast. Shares fell approximately 2.6% in premarket trading. 

Adobe delivered stronger headline numbers, with fiscal third-quarter revenue reaching a record $6.76 billion, up 13% year-over-year and above the $6.70 billion consensus. Adjusted EPS came in at $6.13, ahead of the $6.08 estimate. AI-first annual recurring revenue exceeded $650 million, rising more than 150%. However, Adobe’s fourth-quarter revenue guidance of $6.80 billion-$6.85 billion only broadly matched expectations. Shares fell approximately 2.4%. 

RH delivered a much larger earnings beat. Second-quarter adjusted EPS reached $2.70, well above expectations of approximately $0.39-$0.46. Revenue came in at $922.2 million, slightly above the $915.44 million consensus, while net income reached $60.2 million. The company expects full-year revenue growth of 5.5%-7%. RH shares rose 7.9% in premarket trading and ended around $135.89, up 1.4%. 

Macy’s second-quarter adjusted EPS came in at $0.63, compared with $0.35 expected. Revenue rose 1.1% to $4.9 billion, while comparable sales increased 2.7%. Tariff refunds of approximately $116 million supported earnings. 

However, full-year revenue guidance of $21.675 billion-$21.825 billion came in below expectations, sending shares down 3.7% to $20.73. 

GameStop reported adjusted EPS of $0.27, beating the $0.19 consensus. Revenue reached $790.2 million, compared with $756.8 million expected. Collectibles revenue jumped 57% to $356.3 million, accounting for 45.1% of total revenue. 

Operating income reached a record $160.2 million for the second quarter, while management expects adjusted EBITDA to exceed $650 million for fiscal 2026. Academy Sports also exceeded expectations, with adjusted EPS of $2.31 against $1.94 expected and revenue of $1.65 billion. Full-year adjusted EPS guidance stood at $6.50-$6.90. Shares gained approximately 8% to $49.92. 

Signet Jewellers gained 20% after reporting adjusted EPS of $2.19 versus $1.73 expected. Revenue reached $1.53 billion, while same-store sales increased 2.2%. The company also raised its full-year adjusted EPS, operating income and EBITDA guidance. 

Software Stocks Face Pressure Despite Earnings Beats 

ServiceTitan reported second-quarter EPS of $0.40, ahead of the $0.35 consensus, while revenue rose 21% to $292.8 million. Gross transaction volume increased 19% to $22.9 billion. However, its third-quarter revenue outlook of $285 million-$287 million disappointed investors. Shares fell 29.76% to $57.79. 

Braze reported adjusted EPS of $0.19 versus $0.15 expected, while revenue rose 26% to $227.2 million. Nevertheless, its third-quarter adjusted EPS forecast of $0.13-$0.14 fell below the $0.16 consensus. Shares declined 20.02% to $24.24. 

Cooper Companies reported third-quarter revenue of approximately $1.07 billion, up 1% but below the $1.10 billion expected. Fourth-quarter revenue guidance of $1.057 billion-$1.080 billion also fell short of expectations. Shares dropped 13.5% to $54.91. 

Smaller Companies Deliver Strong Earnings Surprises 

Frequency Electronics delivered one of the week’s strongest percentage gains. Fiscal first-quarter 2027 EPS reached $0.41, compared with $0.15 expected, while revenue came in at $23.45 million, beating the $17.85 million consensus. 

Quarterly revenue reached a record approximately $23.5 million, up 70%, while funded backlog stood at $129 million. Shares jumped 30.7% to $81.13. Caleres reported second-quarter adjusted EPS of $0.47, approximately 25% above analyst expectations, with revenue of $695.45 million. Shares gained 4.19% to $12.56. 

ABM Industries reported third-quarter revenue of $2.3 billion, up 4.2%, while net income increased 19% to $49.7 million. The company raised the midpoint of its full-year adjusted EPS guidance to a range of $3.95-$4.10. Shares gained 5.31% to $49.55. 

UNFI posted fourth-quarter adjusted EPS of $0.69, beating $0.61 expected, while record free cash flow reached $323 million. Shares rose approximately 1.66% in premarket trading. Berkshire Hathaway reported second-quarter operating earnings of approximately $13 billion, up 16.3%, while revenue reached $101.8 billion, an increase of 10%. Its market capitalisation remained around $1.1 trillion, with shares near $506.98. 

Waterdrop reported second-quarter operating revenue of RMB1.448 billion, up 72.8%, and net profit of RMB125.8 million. The company marked its 18th consecutive profitable quarter. Shares rose 3.92% to $1.06. Canaan, by contrast, reported revenue of $31.9 million, down sharply from $100.2 million, alongside a net loss of $97.6 million. Shares fell 10.03% to $0.32. 

IRSA reported fiscal 2026 net income of ARS420.9 billion, up 61%, while rental adjusted EBITDA reached a record $200 million. Shares declined 0.59%. 

Equity, Debt and Private Funding Remain Active 

Companies also continued to tap capital markets. Yarrow Bioscience raised $150 million through an upsized follow-on offering of 5,769,231 shares at $26 each. The price represented an 8.6% discount to the previous close of $28.44, and shares fell approximately 6.3% in premarket trading. 

Indaptus Therapeutics completed a private placement of 20.34 million shares, generating gross proceeds of approximately $24 million. The company plans to use the funds for working capital, research and development and general corporate purposes. Shares gained 11.3% to $2.85. 

CPI Card Group launched a secondary offering of 2.34 million shares at $21.50, representing a 23.9% discount to the $28.25 previous close. Shares fell 4.64% to $26.94 and traded around $23.08 after hours. 

Centrus Energy announced a $500 million underwritten offering comprising Class A shares, pre-funded warrants and common warrants. Shares declined 7.86% to $167.43. Williams priced $2.75 billion of senior notes across four tranches. The proceeds will support repayment of commercial paper and general corporate purposes. Williams shares traded around $75.53, down 0.40%. 

Stoke Space secured a $1 billion Series E funding round, taking its valuation to approximately $10 billion. The company is targeting its Nova Pathfinder launch in 2027 and Nova Block 2 in 2029. 

United Therapeutics also announced plans to deploy its remaining $2 billion share-repurchase authorisation through an accelerated share repurchase agreement with Citibank worth approximately $477.6 million. The company expects to return approximately $4 billion to shareholders over roughly 2.5 years. Shares rose 2.94% to $501.92. 

IPO Pipeline, Corporate Restructuring and Other Market-Moving Developments 

New IPO Candidates Advance Towards Public Markets 

The US IPO pipeline remained active as several companies moved closer to listing. Orion180 filed with the Securities and Exchange Commission to raise up to $340 million through an IPO of 20 million Class A shares priced between $15 and $17. The company plans to list on Nasdaq Global Select Market under the ticker OIG. 

Holtec Nuclear began its IPO roadshow with plans to offer 50 million Class A shares at $15-$18 per share. It also plans to list on Nasdaq Global Select Market under HNUC. American Savings Bank launched its IPO roadshow for 7,496,436 shares priced between $15 and $17. The company plans to list on the New York Stock Exchange under ASBH. 

Robinhood also took a new step in the capital-markets ecosystem by serving in its first official IPO underwriting role. Robinhood Securities joined 18 underwriters for the Oura IPO. Robinhood shares traded around $0.98 lower during the session. 

Reverse Splits and Restructuring Highlight Balance-Sheet Pressure 

New Fortress Energy completed a 1-for-50 reverse stock split, effective at 8:30 a.m. ET on 11 September. The split-adjusted shares began trading on Nasdaq as the company sought to regain compliance with the exchange’s minimum bid-price requirement. Shares rose approximately 20.9% to $0.33 on a split-adjusted basis. 

Gossamer Bio completed a 1-for-80 reverse stock split after the market closed on 10 September, with split-adjusted trading beginning on 11 September. Shares declined 10.83% to $0.1424. 

CVD Equipment announced a restructuring that includes an approximately 50% workforce reduction, a decision to stop accepting new system orders in its CVD equipment business and the departure of CEO Emmanuel Lakios. Shares fell 23.4% to $4.80. 

Boston Scientific restored operations after a cyber incident identified on 25 August. The disruption lasted eight days and is expected to have a material effect on third-quarter and full-year 2026 results. The company withdrew its financial guidance. Shares declined 4.14% to $43.10. 

Healthcare, Energy and Other Corporate Updates 

Pharming Group received FDA approval for an expanded use of Joenja in children aged four to 11 with activated PI3K delta syndrome. The company had resubmitted the application following a rejection in January 2026. Shares fell 2.57% to $10.81. 

IonQ signed an $8.18 million agreement with Congruity360 for quantum-safe network technology, sending shares up approximately 10.4% to $43.63. Fuel Tech secured approximately $2.8 million in air-pollution control contracts, taking its backlog to approximately $20 million. Shares gained around 6.2%. 

GrafTech International entered a strategic collaboration with Antora Energy to develop carbon-based materials for thermal batteries. Shares rose approximately 1%. Invenergy and HASI closed a strategic equity partnership supporting a 2.7GW renewable-energy portfolio. HASI shares declined 2.40%. 

Flotek raised its fiscal 2026 revenue and adjusted EBITDA guidance following stronger international chemistry sales. The company expects revenue of approximately $360 million-$370 million, while shares gained 12.17%. 

Oddity Tech reported second-quarter revenue of $180.5 million, down 25% year-over-year, but the stock gained 28.6% to $16.75 as investors responded positively to signs of operational stabilisation. Mission Produce reported third-quarter adjusted EBITDA of $32.4 million and revenue growth of 26% to $450 million. The company expects annualised synergies from its Calavo transaction to exceed $30 million. Core & Main reported second-quarter adjusted EPS of $0.94, slightly above the $0.92 consensus, while revenue reached $2.14 billion in line with expectations. Shares fell approximately 4.3% in premarket trading. 

The week reflected the breadth of corporate activity across technology, aerospace, financial services, defence, healthcare and retail. Strong AI demand, major acquisitions, mixed earnings and continued capital-market activity shaped individual stock moves. With several major transactions and IPOs progressing, and the Federal Reserve meeting approaching, company-specific developments are likely to remain important to market sentiment in the weeks ahead. 

Source 

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