Consumer Tech (July 20-24): AI Boom Drives Big Tech Earnings, Oracle Grabs $7B Defense Deal & More – Amko

Consumer Tech (July 20-24): AI Boom Drives Big Tech Earnings, Oracle Grabs $7B Defense Deal & More – Amko – Benzinga

The Indian government has directed GitHub to remove Jack Dorsey‘s Bitchat repositories amid the ongoing student protests in Delhi.

Technology & Software Semiconductors & Related Equipment

Intel and Advanced Micro Devices are reportedly entering into longer-term purchase agreements with Chinese server customers.

Media, Telecommunication & Smartphones

Alphabet has opened a more direct front against Nvidia in the AI chip market.

Automobile & AeroSpace

Photo via Shutterstock 

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

The U.S. Defense Department awarded Oracle Corp (NYSE:ORCL) a 10-year, nearly $7 billion enterprise software agreement negotiated by the Department of the Navy, marking the first direct award contract covering the department’s on-premises Oracle usage.

Salesforce, Inc. (NYSE:CRM) shares are up during Friday’s premarket session as the company has won a $1.6 billion contract from the U.S. Department of Veterans Affairs (VA) to enhance its services.

SAP SE (NYSE:SAP)  reported second-quarter results and highlighted continued strength in its cloud business, despite slightly missing Wall Street’s U.S. dollar-based estimates.

IBM Corp (NYSE:IBM) reported second-quarter revenue of $17.16 billion, beating the consensus estimate of $16.86 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $2.93 per share, beating analyst estimates of $2.86 per share.

UiPath Inc. (NYSE:PATH) stock traded sharply lower on Wednesday after OpenAI introduced a new enterprise automation product, adding to investor concerns that advances in artificial intelligence could intensify competition in workflow automation software.

Red Cat Holdings Inc. (NASDAQ:RCAT) stock gapped lower at Wednesday’s market open after the company disclosed the termination of its chief revenue officer and a related legal dispute. 

CrowdStrike Holdings Inc. (NASDAQ:CRWD) and Cerebras Systems Inc. (NASDAQ:CBRS) announced a strategic partnership Wednesday to strengthen artificial intelligence-powered cybersecurity.

monday.com Ltd. (NASDAQ:MNDY) said Wednesday it will reduce its workforce by about 20% as part of a restructuring plan aimed at aligning the company with its strategy to become an AI-focused work platform, while raising its full-year operating margin outlook.

Eric Trump-backed Foundation Future Industries will use Advanced Micro Devices Inc. (NASDAQ:AMD) chips to develop autonomous humanoid robots for factories and military operations, with industrial customers paying about $100,000 annually to lease each machine.

Infleqtion Inc. (NYSE:INFQ) stock jumped Wednesday after the quantum technology company said it secured three U.S. Department of Energy Genesis Mission projects.

Advanced Micro Devices is pushing to unlock more value from AI infrastructure through large-scale Anthropic and OpenAI partnerships, new data-center products and deeper competition with NVIDIA Corp. (NASDAQ:NVDA).

Intel is targeting a staggering $100 billion market for custom artificial intelligence silicon, leveraging its robust x86 computing franchise and advanced manufacturing network as global AI demand skyrockets.

Amkor Technology, Inc. (NASDAQ:AMKR) announced a multi-year partnership with Nvidia to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.

MaxLinear Inc. (NASDAQ:MXL) reported second-quarter revenue rose 55% year over year and 23% sequentially to $168.8 million, beating the $164.702 million analyst estimate. Adjusted earnings of 35 cents per share topped the 33-cent estimate.

STMicroelectronics N.V. (NYSE:STM) reported revenue of $3.49 billion, up 26% from a year and ahead of the analyst consensus estimate of $3.38 billion, according to Benzinga Pro. Sales to original equipment manufacturers increased 23.3%, while distribution sales rose 33.1%.

Texas Instruments Inc (NASDAQ:TXN)  reported second-quarter revenue of $5.46 billion, beating analyst estimates of $5.25 billion. The semiconductor company posted second-quarter earnings of $2.14 per share, beating analyst estimates of $1.92 per share, according to Benzinga Pro.

Verizon Communications Inc. (NYSE:VZ) reported second-quarter results, with adjusted earnings beating Wall Street estimates while revenue narrowly missed expectations as customers held onto their phones longer, reducing equipment sales.

Alphabet (NASDAQ:GOOGL) Google parent recorded its 12th consecutive quarter of strong revenue gains, comfortably beating expectations. In terms of revenue, Alphabet’s quarterly results weighed in at $119.8 billion compared to $116.93 billion expected by LSEG, while adjusted earnings per share (EPS) fell $0.04 short of expectations, reaching $2.85. 

Alphabet CEO Sundar Pichai made one of his boldest comments yet about the company’s AI ambitions during Wednesday’s earnings call, saying the company has already begun its “most ambitious pretraining run yet” for Gemini 4.

Comcast Corp. (NASDAQ:CMCSA) reported revenue of $29.94 billion, down 1.2% from a year earlier but above the analyst consensus estimate of $29.30 billion, according to Benzinga Pro. Adjusted earnings came in at $1.04 per share, beating estimates of 97 cents.

Nokia Corp. (NYSE:NOK) stock edged lower in premarket trading Thursday despite the telecom equipment maker reporting second-quarter results that topped Wall Street estimates, driven by strong demand for AI data center networking products.

AT&T Inc. (NYSE:T) stock rose more than 4% in Wednesday premarket trading after the telecom giant reported second-quarter fiscal 2026 earnings that topped Wall Street expectations, even as revenue came in slightly below estimates.

Fly-E Group, Inc. (NASDAQ:FLYE) reported fiscal 2026 net revenue of $19.1 million, a 25% decline from $25.4 million in the previous year. The decrease was mainly due to a 68.1% drop in retail sales following weaker consumer demand linked to lithium-ion battery safety concerns in New York.

Shield AI is accelerating its push to bring autonomous flight to defense and commercial aviation through a new partnership with Honeywell Aerospace (NASDAQ:HONA), extending its momentum following the purchase of simulation software maker Aechelon Technology.

Powered by Benzinga Newsdesk