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Wednesday, June 3, 2026

Tech Market Context: Macro Drivers

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Today's Interesting Company News

Cognizant Accelerates Enterprise AI Adoption With Snowflake's Cortex-Powered Intelligent Agents

(NASDAQ:CTSH) Cognizant and Snowflake announced an expanded collaboration aiming to accelerate enterprise AI adoption through the Snowflake CoCo platform. Cognizant is deploying a growing portfolio of AI-powered intelligent agents, with CoCo having expanded to more than 2,250 users across Cognizant labs and client environments, over 30 enterprise use cases operationalized, and more than 260 hours of enablement delivered. Cognizant has developed 12+ custom CoCo skills and over 90 revenue-ready accelerators, supporting more than 1.3 million AI-driven requests. For A+E Global Media, Cognizant's AI-powered conversational analytics agent helped reclaim approximately 200 hours of manual effort for business users. Representative outcomes include up to 70% effort reduction for a global biopharma leader, approximately $85K in annual savings and 1,300 hours reclaimed for a sports and entertainment company, and a 99% reduction in change impact analysis time for a North American telecom provider. The company projects to continue to deepen its investment in industry-specific CoCo skills, pre-built agent templates and cross-platform orchestration capabilities. Cognizant was named Snowflake's 2026 CoCo Catalyst Partner of the Year for Impactful Customer Story.

Btab Expands AI Powered Supplier Network to Connect Manufacturers With Its Global Reseller Ecosystem

(OTC: BBTT) Btab Ecommerce Group, Inc. announced the expansion of its AI powered supplier network, connecting manufacturers, wholesalers, and emerging product makers with its global reseller ecosystem. The company is building on its recently launched Agentic AI reseller initiative and is now focused on the supply side of its platform. The initiative is designed to help product creators scale distribution, accelerate onboarding, and access market intelligence through intelligent automation. Suppliers gain access to AI assisted tools across product onboarding, inventory synchronization, pricing intelligence, marketing support, and customer engagement. Btab believes these capabilities can reduce operational friction and expand supplier reach across the Btab Network. The company states that a stronger supplier network will improve product availability, strengthen supply chain efficiency, and support scalable global distribution for resellers and end customers. Btab's expansion is part of its long term strategy to build a fully connected, AI powered commerce ecosystem spanning sourcing, fulfillment, reselling, and growth.

CLPS Incorporation Restructures R&D Architecture, Introduces AI Rainstorm Factory Development Model

(NASDAQ:CLPS) CLPS Incorporation announced a series of strategic initiatives aimed at driving the deep integration of artificial intelligence (AI) technology across its global business operations. The Company has completed the initial deployment of its AI infrastructure, including AI server clusters and related hardware resources across its Shanghai, Shenzhen, and Singapore offices, establishing a high-performance computing environment with a peak computing power of up to 15,000 teraflops (TFLOPS). CLPS has built an internal AI service platform based on mainstream open-source models and has already achieved measurable improvements in project R&D and delivery efficiency. The restructured AI Rainstorm Factory architecture comprises six key workshops, including UI Design, Project Management, Business Requirements, Technical Architecture, Agile R&D, and Automated Testing Workshops. The Company aims to shorten the project R&D and delivery cycles by up to 50% compared to traditional workflows, thereby reducing development and operational costs. CLPS will continue to expand its investment in AI server infrastructure, systematically scale its computing power, and iterate its AI service platform. The Company operates across 10 countries worldwide, with strategic regional hubs in Shanghai (mainland China), Singapore (Southeast Asia), and California (North America), and supported by subsidiaries in Japan and the UAE.

Treasure Global Reports Preliminary Fiscal Year 2026 Financial Outlook; Revenue Growth Expected to Exceed 100% Year-over-Year

(NASDAQ:TGL) Treasure Global Inc. provided a preliminary financial outlook for the fiscal year ending June 30, 2026, ahead of the filing of its Annual Report on Form 10-K. The Company expects fiscal year 2026 revenue to increase by over 100% year-over-year, driven by continued expansion of its digital ecosystem and increasing merchant adoption across Southeast Asia. As of March 31, 2026, ZCITY has attracted 2.71 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. The Company expanded its Tazte F&B platform through merchant onboarding, digital commerce integration, and broader sector expansion initiatives. The Company also advanced its fintech ecosystem strategy through the development of digital wallet and exchange infrastructure, while investing in AI-enabled technologies, data analytics capabilities, and scalable platform architecture. The Company expects continued strengthening of its balance sheet and liquidity position following strategic financing initiatives and operational optimization efforts completed during the fiscal year. The Company is advancing its AI-enabled capabilities to improve platform intelligence, personalization, and operational efficiency, while maintaining a strengthened balance sheet supported by improved liquidity and treasury optimization strategies, including stablecoin-based digital asset arrangements used within treasury management to enhance capital efficiency and liquidity flexibility.

Garmin Releases Global Running and Cycling Data Reports

(NYSE: GRMN) Garmin International, Inc. released its running and cycling data reports, highlighting how athletes around the world are recording runs and rides. Garmin runners recorded nearly 13% more indoor and 3% more outdoor running activities, with a 23% increase in users who recorded a run and a strength activity in the same week. The average distance ran was 4.82 miles, and the average pace per mile was 9:21 for men and 10:11 for women, with runners in Ireland logging the fastest average mile (9:09). The average bike ride per user was 28.59 miles, with cyclists in Italy recording the highest average miles per ride (34.73), and Garmin cyclists spent about 115 minutes on average on each ride. The average VO2 max for all Garmin runners was 50 and the average sleep score was 73, while the average VO2 max for all Garmin cyclists was 51. Garmin's cycling collection includes Edge GPS cycling computers, Rally pedal-based power meters, Varia smart lights and rearview radars, and Tacx indoor smart trainers.

FingerMotion, Inc. Intends to Enter the Edge AI Inference Computing Market

(NASDAQ:FNGR) FingerMotion, Inc. announced plans to expand its infrastructure strategy through the development of modular AI-focused edge computing facilities designed to support the growing demand for localized artificial intelligence processing and inference workloads. The initiative builds upon the Company's existing telecommunications and technology platform operations and represents a strategic extension of the Company's long-term infrastructure and data services roadmap. The Company's approach is focused on edge-based AI inference infrastructure rather than hyperscale cloud data center development. The proposed infrastructure design incorporates modular data center architecture powered by localized micro-grid energy systems. Management believes that traditional large-scale data center projects can require multiple years to complete due to permitting, construction, and utility infrastructure requirements. The Company expects its edge infrastructure initiative to complement its broader technology ecosystem while creating additional opportunities for recurring infrastructure-related revenue streams. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.

Gorilla Technology Group Inc. Announces Pricing of $107 Million Senior Unsecured Convertible Bond Offering

(NASDAQ: GRRR) Gorilla Technology Group Inc. announced the pricing of $107 million aggregate principal amount of 7.50% Senior Unsecured Convertible Notes due 2031. The financing is being led by Highbridge Capital Management LLC, a current institutional stakeholder in Gorilla. The Bonds will accrue interest payable semi-annually in arrears at a rate of 7.50% per annum and will mature on June 5, 2031, unless earlier converted, redeemed or repurchased. The initial conversion rate for the Bonds will be 39.2425 ordinary shares per $1,000 principal amount, equivalent to an initial conversion price of approximately $25.4826 per ordinary share, with a conversion premium of approximately 17% over the closing price of $21.7800 per ordinary share on June 2, 2026. The conversion price is subject to two reset mechanisms: a downward reset with a floor of $6.00 per ordinary share and an upward reset with a cap of $31.85325 per ordinary share, representing a premium of 46.25% over the closing price. The Company intends to use the net proceeds from the offering to fund the equity portion of the purchases of data center equipment deployment pursuant to the Company's second project with Yotta Data Services Private Limited, announced on April 29, 2026, with any remaining proceeds to be used for general corporate purposes. The offering is expected to close on or about June 5, 2026, subject to customary closing conditions.

Contract Renewal With Admiral Taverns

(AIM: VNET) Vianet Group plc announced the renewal of its contract with Admiral Taverns for a further five-year term. The renewed agreement covers almost 1,100 sites across the Admiral Taverns estate and will see Vianet continue to provide its Smart Zones Beverage Metrics draught beer monitoring and data analytics solutions. Recurring revenues represent approximately 88% of Group revenues. Vianet serves 300+ customers globally and processes data from over 250,000 connected devices daily. The Group reports over 85% recurring revenues and is expanding its presence in the USA hospitality market. The company projects that the renewal provides enhanced long-term visibility of recurring revenues and underpins the Board's confidence in the Group's recurring revenue profile and medium-term growth prospects.

SEALSQ Participates as a Lead Investor in Quobly’s €130 Million Series a Financing Via SEALQuantum.com Fund to Advance the European Sovereign Quantum Infrastructure

(NASDAQ: LAES) SEALSQ Corp announced its participation as a lead investor in Quobly’s €130 million Series A financing. The round is led by ST Microelectronics, SEALSQ, Isalt, and the French Public Investment Bank (BPI France). SEALSQ’s investment was made via the SEALSQ Quantum Fund, which has grown from $20 million initial allocation to $200 million as of today. Excluding the recent Quobly financing, SEALSQ Quantum Fund has deployed approximately $30 million of its $200 million of available funds across IC'Alps, ColibriTD, EeroQ, WISeSat, Quantix Edge Security, and the WeCan Group. The SEALSQ Quantum Fund was launched in February 2025 as a strategic investment initiative dedicated to advancing the quantum technology ecosystem. The investment strengthens the strategic technical partnership initiated in November 2025 between SEALSQ and Quobly. The company projects that this investment is expected to be a key step in SEALSQ’s roadmap to deliver a fully integrated Quantum Vertical Sovereign Stack.

DXN Wins $8.8m Contract to Deliver HPC Modular Data Centre to US-Based Neo-Cloud Operator

(ASX:DXN) has secured an $8.8 million contract with an undisclosed US-based neo-cloud operator for the delivery of a 1.36 megawatt AI high-performance computing (HPC) modular data centre. The pilot proof-of-concept deployment consists of architecture purpose-designed to be expandable and engineered to support the customer’s larger campus-scale AI compute ambitions. Under the terms of the contract, DXN will design, engineer, manufacture and commission a complete turnkey AI HPC modular data centre solution incorporating its proprietary pre-fabricated module platform. Subject to successful delivery, the customer has indicated it may progress to a substantially larger campus program, presenting DXN with a potential revenue opportunity of more than $278m for the existing site. DXN will complete fabrication of the centre at its Perth-based manufacturing facility, with commissioning at the customer’s US mainland site expected before year end. The global data centre GPU market was estimated at approximately US$99 billion in 2025, growing at approximately 14% per annum. The AI data centre infrastructure market has a forecast compound annual growth rate of 27.5% through to 2034.

Palo Alto Networks Reports Fiscal Third Quarter 2026 Financial Results

(NASDAQ:PANW) Palo Alto Networks announced its financial results for the fiscal third quarter 2026, reporting total revenue of $3.0 billion, a 31% year-over-year increase. The quarter included $388 million in revenue from CyberArk and Chronosphere, and Next-Generation Security ARR grew 60% year over year to $8.1 billion, with $1.6 billion contributed by CyberArk and Chronosphere. Remaining performance obligation rose 36% year over year to $18.4 billion, including $1.8 billion from CyberArk and Chronosphere. GAAP operating loss for the quarter was $183 million, compared to GAAP operating income of $219 million in the prior year, while non-GAAP operating income was $814 million, up from $627 million. Net cash provided by operating activities was $871 million, and adjusted free cash flow was $910 million, both showing significant increases from the previous year. The company projects Next-Generation Security ARR of $8.90 billion to $8.95 billion and total revenue of $3.345 billion to $3.355 billion for the fiscal fourth quarter 2026, and expects an adjusted free cash flow margin of 37.5% for the full fiscal year 2026.

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