TECH BULLETIN

Tuesday, June 9, 2026

Tech Market Context: Macro Drivers

Key macro instruments that drive tech market movements: yields, dollar, risk appetite

Market Commentary

Today's Interesting Company News

VisionWave Brings AI-based Sensing Capabilities for the Defense and Security Sector by Acquiring a Controlling Interest in Foresight Autonomous

(NASDAQ:VWAV) VisionWave Holdings, Inc. announced it has executed a definitive agreement to acquire up to 52% of Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) in exchange for $17.5 million in VisionWave's shares of common stock. The acquisition will be completed in two stages: 46% of Foresight's shares upon Stage 1 Closing (expected within 45-60 days), and an additional 6% upon achievement of a defined commercial milestone. VisionWave will also issue up to $3 million in management equity grants as part of the transaction. The xClibre™ AI video intelligence IP portfolio, previously acquired by VisionWave, was independently valued at approximately $60 million by BDO Consulting Group as of the acquisition date for financial reporting purposes. VisionWave will gain significant board representation, with the right to designate two directors to Foresight's Board upon Stage 1 Closing and one additional director upon Stage 2 Closing. Both companies will continue to operate as independent, publicly traded entities. The company projects the integration of Foresight's technologies into its STRATUM™ SENSE suite and the establishment of its core operating platform for RF-focused perception systems.

Broadcom, Apollo, and Blackstone Establish Landmark Strategic Platform to Accelerate More Than 20 Gigawatts of Global AI Deployments

(NASDAQ: AVGO) Broadcom Inc. announced the establishment of the AI XPV Platform with Apollo (NYSE: APO) and Blackstone's (NYSE: BX) Credit & Insurance Business as initial anchor investors, launching with an initial tranche of $35 billion led by Apollo in partnership with Blackstone. The Platform is designed to enable more than 20 gigawatts in compute capacity using Broadcom's XPUs and networking solutions customized for leading frontier AI labs, including Anthropic and OpenAI, through 2028. The initial $35 billion transaction will facilitate Anthropic's previously-announced capacity expansion of more than 1 gigawatt of compute infrastructure expected to deploy in Fluidstack-based sites starting in mid-2026. Apollo had approximately $1.03 trillion of assets under management as of March 31, 2026, and Blackstone's assets under management exceed $1.3 trillion. The Platform establishes a scalable framework for future deployments of XPU-based compute capacity and networking to enable frontier model training and inference at the lowest cost and lowest power, significantly lowering per-token delivery costs. The company projects that the Platform will enable more than 20 gigawatts in compute capacity through 2028. This announcement builds upon the deep strategic relationship between Broadcom and Anthropic.

Syntec Optics (Nasdaq: OPTX) Secures $4.6M Critical-Care Biomedical Order

(NASDAQ: OPTX) Syntec Optics announced a new $4.6 million purchase order for the continued manufacturing of advanced laser blood-test cartridges and optical reader subsystems for benchmark instrumentation used across global clinics and hospitals. The company has shipped about half a million in products for this order and intends to complete full delivery by Q3. Syntec's disposable point-of-care cartridges are used for diagnostics of hemoglobin, electrolytes, and metabolites in most of the world’s clinical laboratories. In typical hospital network and trauma center deployments, dozens of these units enable test runs simultaneously across various high-acuity wards, including Intensive Care Units (ICUs), Neonatal Intensive Care Units (NICUs), operating rooms, and emergency departments. A typical hospital or department may conduct between 400 and 750 tests per month, and a busy clinical unit may routinely process 15 to 40 patient samples every 24 hours. In high-stakes acute respiratory distress scenarios, these subsystems deliver critical oxygen, carbon dioxide, and clotting risk data in approximately one minute, reducing the hours-long turnaround time of traditional central labs. The company intends to complete full delivery by Q3.

MiMedia Signs Distribution Agreement With Shenzhen Doke Electronic Company, Parent Company and Manufacturer of Two Leading Smartphone Brands, Blackview and Oscal, That Ship Devices to 15+ Countries Worldwide

(TSXV: MIM) MiMedia Holdings Inc. announced that it has signed a global Distribution Agreement with Shenzhen Doke Electronic Company, the parent company and manufacturer of Blackview and Oscal smartphone brands. Doke operates a 30,000-square-meter factory in China and expanded its factory to 60,000 square meters in Heyuan in 2022, with 500 skilled workers and 7 production lines. Doke manufactures millions of high-quality smartphones per year and serves customers in more than 15 countries, including Russia, France, USA, Germany, Iraq, Israel and South Africa. Under the Agreement, MiMedia will integrate its platform onto Blackview and Oscal devices, including rugged smartphones, smartphones, rugged tablets, smart tablets, mini-PCs, and laptops. Blackview has maintained steady annual growth over the past 12 years, and Oscal was launched in 2022 as a core sub-brand of Blackview. MiMedia's platform is designed to provide Doke with a unique churn-reducing product, immediate market differentiation and multiple high-margin and recurring revenue streams. The company projects that MiMedia will be integrated on smartphones slated for near-term shipment and expects for its pipeline to expand further as shipments with existing partners start to generate revenue, high ARPU and cash flow.

Freightos Joins IATA Digitalization Leadership Charter to Advance Modern Air Cargo Connectivity

(NASDAQ: CRGO) Freightos Limited announced it has joined the IATA Digitalization Leadership Charter to support broader adoption of interoperable digital connectivity standards across the global air cargo ecosystem. The Charter focuses on five core industry priorities: driving industry-wide interoperability and global data standards, strengthening digital resilience and cybersecurity readiness, accelerating sustainable and paperless cargo operations, advancing digital excellence through innovation and automation, and promoting ethical and responsible adoption of emerging technologies, including AI. Freightos provides the open digital infrastructure required for a seamless transition into the next era of global logistics. The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments. Products include Freightos Enterprise, Freightos Marketplace, WebCargo and 7LFreight by WebCargo, WebCargo for Airlines, and Clearit. Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world's leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping. The company projects that over time, this kind of connectivity will help shape a more agile, intelligent and resilient global freight ecosystem.

Gain a Competitive Edge on the Racetrack With the Garmin Catalyst R1 Radar

(NYSE: GRMN) Garmin announced the Garmin Catalyst R1 racing radar, a purpose-built system for high-performance drivers, with a suggested retail price of $799.99. The radar system features heads-up indicator lights positioned within the driver's line of sight in the cockpit and includes all mounting hardware needed to secure on a race vehicle. The Garmin Catalyst R1 radar is unobtrusive, rugged, and has an IP67 dust/water rating that can withstand rigorous racetrack conditions including weather, heat, and vibration. The product will be available to purchase on garmin.com starting June 12, 2026. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan, and the United Kingdom.

FingerMotion Enters Edge AI Inference Compute Market Through Strategic MOU With BlueFlare Energy Solutions; Plans to Proceed With First Behind-the-Meter Site (PR1) in Alberta Under Non-Binding Commercial Term Sheet

(NASDAQ:FNGR) FingerMotion, Inc. announced that it has entered into a Memorandum of Understanding (the "MOU") with BlueFlare Energy Solutions Inc. to jointly develop a distributed network of micro-scale edge AI inference compute sites across Western Canada. The first project under the collaboration, designated PR1, will be located in Alberta, Canada and will include a 1.0 MW air-cooled Bitcoin mining container and 120 active Bitmain Antminer S21 Pro 234T ASICs (with a 5% dead-on-arrival buffer of 6 additional units, for 126 units delivered in total), representing an aggregate nameplate hashrate of approximately 28.08 PH/s. BlueFlare will provide host-operated energy supply, power-generation operations and maintenance, and 24/7 network operations centre (NOC) monitoring at a fixed, all-in rate of US$0.03 per kWh delivered for an initial three-year term, with a 3% annual escalation thereafter. The project will also include the construction of a 500 kW containerized AI inference compute data center adjacent to the existing infrastructure. The MOU establishes BlueFlare as FingerMotion's exclusive partner within Alberta, British Columbia and Saskatchewan for the origination, design, engineering, construction and ongoing support of co-located AI inference compute sites and bitcoin mining sites. The company projects that PR1 is intended to serve as the prototype site for a broader rollout of distributed edge compute infrastructure across Alberta, British Columbia and Saskatchewan, with additional initial project sites currently under evaluation. The MOU and the anticipated LOI are non-binding and neither obligates either party to enter into any definitive agreement.

First Hydrogen Provides Update on Binding Letter of Intent With Robotics Company Covering Its Actuation Gearbox and High-Performance Motor Lines

(TSXV: FHYD) First Hydrogen Corp. is continuing to advance the robotics transaction announced on February 23, 2026, aiming to acquire a 60-per-cent interest in the robotics company by issuing two million common shares and financing $2 million (U.S.) in stages. The robotics technology company owns or licenses 26 issued and 10 pending patents and related intellectual property, including robotics technology, covering its actuation gearbox and high-performance motor lines. First Hydrogen has incorporated First Humanoid Corp., a wholly owned subsidiary intended to hold, develop and commercialize intellectual property related to robotics, humanoid robotics, autonomous systems and AI-enabled technologies. The Company has designed and built two hydrogen-fuel-cell-powered light commercial vehicles ("FCEV") that are road-legal in the United Kingdom (excluding Northern Ireland), with 6,000 km of testing completed and a range of 630+ kilometres on a single refueling. Morgan Stanley Research estimates the humanoids market is likely to reach US$5 trillion by 2050, with more than 1 billion humanoids in use by 2050. The definite agreement for the transaction will be subject to acceptance by the TSX Venture Exchange. The Company has also secured the domain names Firsthumanoid.com and Firsthumanoid.ai to support future branding, technology development and commercialization initiatives.

Palo Alto Networks and Deutsche Telekom Bring AI-Driven Security With Advanced Sovereignty Controls for European Regulated Industries

(NASDAQ:PANW) and (XETRA:DTE) announced the launch of Sovereign Cortex with T Security, bringing the Palo Alto Networks Cortex® AI-driven SecOps platform to Europe's most regulated industries with data sovereignty controls independently governed by Deutsche Telekom. The solution addresses compliance requirements of NIS2, DORA, and KRITIS with respect to data sovereignty, providing additional sovereign controls for every layer of the environment, including customer and systems (telemetry) data, encryption keys, and independently audited access logs. All support personnel are based exclusively in Europe, and all contractual agreements are governed by European law. Palo Alto Networks is trusted by 70,000+ customers and is powered by Unit 42 threat intelligence. Deutsche Telekom serves around 220 million customers across mobile, fixed-network, and IT services. The initial release of Sovereign Cortex with T Security is planned for Q3 2026 and will be available to organisations in healthcare, financial services, the public sector, and critical national infrastructure. The company projects broader availability to follow.

ICEYE Financing Round

(LSE: SSIT) Seraphim Space Investment Trust plc announced that ICEYE is raising €450 million ($520 million) in a primary Series F financing round led by General Atlantic at a valuation of over €10 billion ($12 billion). The Series F financing round, together with a secondary placement, is expected to exceed €1 billion and is subject to customary regulatory approvals, with closing expected in Q3 2026. ICEYE is currently the Company's largest portfolio holding, representing 47.1% of the Company's NAV as at 31 March 2026. Based on the announced valuation, the implied uplift in the fair value of the Company's holding would be approximately £202 million, representing a 102% increase in fair value and equivalent to an increase in NAV per ordinary share of approximately 73p. The Company expects substantially to reflect this uplift in its results for the year ended 30 June 2026, which are expected to be announced in October 2026. ICEYE has supplied sovereign satellite systems to seven European governments to date and employs more than 1,000 people. The proceeds of the financing will support the continued expansion of the company's global footprint and intelligence capabilities.

New Contract Trials: Sim Trava and DW Baking

(AIM:TIDE) Crimson Tide plc announced two new commercial developments involving Sim Trava LTD and DW Baking LTD, specifically the commencement of a one year trial of the mpro5 platform across Sim Trava's estate of approximately 80 Costa Coffee stores and a new contract with DW Baking LTD to deploy mpro5 for quality inspection and daily task management workflows. The Sim Trava trial integrates mpro5 into task management and compliance workflows, providing real-time visibility across all locations. The DW Baking trial will initially cover five quality technicians at a single site, focused on quality inspections and daily tasks, with a clear path to roll out mpro5 across all of DW Baking's facilities. Crimson Tide's managed onboarding approach and revised pricing model were cited as key differentiators in the sales process. The company states that this trial is consistent with its strategic objective for the current financial year to complement its enterprise customer base by bringing on board smaller, high-fit customers more quickly and in greater volume. Jon Clarke, CEO of Crimson Tide plc, commented that these two wins reflect the breadth of opportunity and progress in translating product and commercial improvements into new customer relationships. No revenue, profit, or cash figures were disclosed in the announcement.

Ovanti Enters Prediction Markets With Exclusive Yuno.trade Deal

(ASX: OVT) Ovanti has entered an exclusive four-year partnership with Yuno.trade to act as Yuno.trade’s exclusive global payment processor and embedded technology infrastructure partner. Under the agreement, Yuno.trade will gain access to Ovanti’s Labuan Digital Commercial Banking licence and infrastructure to support a planned regulated prediction market platform in Southeast Asia and Central Asia. The agreement has an initial term of four years, with an option to renew for a further four years subject to performance milestones. In April, the company raised A$5.27 million before costs to support its global BNPL platform and Super App strategy, including AI integration, merchant expansion and working capital. Prospectus materials lodged in May showed the company seeking shareholder approval for up to 520,339,654 new options, with potential proceeds only arising if those options are later exercised. Ovanti said its role in the partnership goes well beyond simple payment acceptance, providing transaction orchestration, funds-flow infrastructure, settlement, ledgering, reconciliation, reporting, authentication, risk controls, fraud monitoring, API connectivity, and operational automation. The company expects Yuno.trade to use its Labuan Digital Commercial Banking licence and infrastructure to launch a regulated platform across Southeast Asia and Central Asia.

Baidu Responds to Inclusion on U.S. CMC List

(NASDAQ:BIDU, HKEX:9888) Baidu, Inc. announced that the U.S. Department of Defense has included the Company on the Department of Defense's list of Chinese Military Companies (the "CMC List"). The Company stated that it is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base. The CMC List is not a sanctions list, and the U.S. government procurement limitations tied to the list will not impact the business of the Company. The CMC List does not restrict transacting in the securities of the Company. Baidu was founded in 2000. One Baidu ADS represents eight Class A ordinary shares. Baidu is a leading AI company with strong Internet foundation, trading on NASDAQ under "BIDU" and HKEX under "9888".

Cipher Digital Inc. Announces Pricing of $810.0 Million of Senior Secured Notes

(NASDAQ: CIFR) Cipher Digital Inc. announced that its wholly-owned subsidiary, Stingray Compute LLC, has priced a $810.0 million offering of 6.000% senior secured notes due 2031 at a price equal to 99.750% of their principal amount. The Notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 and to non-U.S. persons outside of the United States pursuant to Regulation S under the Securities Act. The offering is expected to close on June 15, 2026, subject to customary closing conditions. The Issuer intends to use the net proceeds from the offering to finance the remaining cost of the data center (the “Stingray Facility”), reimburse the Company for approximately $61.5 million of prior equity contributions to Cipher Stingray LLC used to fund capital expenditures relating to the Stingray Facility, and fund debt service reserves. The Notes will be fully and unconditionally guaranteed by Cipher Stingray and secured by first-priority liens on substantially all assets of the Issuer and the Guarantor, as well as all equity interests of the Issuer held by Cipher Stingray Holdings LLC. Cipher will provide a customary completion guarantee with respect to the Stingray Facility, under which it will fund the Issuer as necessary to ensure the timely completion of the Stingray Facility in the event that the proceeds of the Notes are insufficient. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.

Lucid Rolls Out Hands-Free Driving Assist and New Software Features for Lucid Gravity in North America

(NASDAQ:LCID) Lucid Group, Inc. announced it has begun the rollout of its latest over-the-air software update for the Lucid Gravity SUV. The update introduces hands-free driving capabilities for Lucid Gravity vehicles. The new features include DreamDrive ™ 2 Pro Hands-Free Drive Assist, Hands-Free Driving Destinations by Google, Adaptive Driving Beam, and Battery Preconditioning. The company describes itself as the maker of the world's most advanced software-defined vehicles and technologies. The update also brings enhancements to navigation, charging experience, and everyday usability. No financial figures, production volumes, or counterparties are disclosed in the announcement. No forward-looking projections or targets are explicitly stated in the text.

FutureCorp Space Acquisition 1 Completes $230,000,000 Initial Public Offering

FutureCorp Space Acquisition 1 announced the closing of its initial public offering of 23,000,000 units, including 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a price of $10.00 per unit, resulting in gross proceeds of $230,000,000. The Company’s units began trading on June 5, 2026 on The New York Stock Exchange (“NYSE”) under the ticker symbol “FTRAU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share, subject to certain adjustment. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the symbols “FTRA” and “FTRAW,” respectively. Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $230,000,000 (or $10.00 per unit sold in the offering) was placed in trust.

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