TECH BULLETIN: Friday, May 29, 2026

S&P 500

7,584.38

pts

▲ +138.66 (+1.86%)

QQQ

737.71

USD

▲ +23.20 (+3.25%)

SEMIS

12,774.94

pts

▲ +810.86 (+6.78%)

TSMC

418.41

USD

▲ +11.26 (+2.77%)

AMD

505.48

USD

▲ +55.89 (+12.43%)

ARK INNOV

81.72

USD

▲ +5.10 (+6.66%)

CRUDE OIL

87.60

USD

▼ -6.29 (-6.70%)

GOLD

4,588.60

USD

▲ +88.20 (+1.96%)

Tech Market Context: Macro Drivers

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

NASDAQ

Nasdaq Composite

26,973.30 pts

▲ 680.20 (+2.59%)

positive for tech

Tech benchmark

US10Y

10-Yr Treasury

4.45 %

▼ 0.04 (-0.89%)

tailwind for tech

Rate sensitivity for tech

DXY

US Dollar Index

98.87 pts

▼ 0.30 (-0.30%)

tailwind for tech

Dollar headwind for tech

BTC

Bitcoin

73,232.02 USD

▼ 4047.91 (-5.24%)

negative for tech

Crypto and tech sentiment

NVDA

Nvidia

216.90 USD

▼ 2.61 (-1.19%)

negative for tech

AI bellwether stock

VIX

Volatility Index

15.41 pts

▼ 1.18 (-7.11%)

tailwind for tech

Market fear gauge

▲ Rising yields or DXY typically pressure tech | ▲ Falling yields and risk-on sentiment support tech | Live data : fetched at send time

Market Commentary

Sell in May? You Would’ve Missed One of the S&P 500’s Best Mays Since the ‘50s.

The S&P 500 is experiencing a remarkable surge, with tech stocks leading the charge and driving the index more than 5% higher this month, marking one of the best Mays since the 1950s. This performance underscores the resilience and strength of the tech sector, which continues to attract investor interest despite historical trends suggesting a seasonal slowdown. The robust gains in May indicate that the tech market is not only defying traditional sell-in-May strategies but also demonstrating a strong appetite for growth among investors. As tech companies innovate and expand, their contributions to the broader market are becoming increasingly significant, suggesting that the sector remains a critical driver of economic momentum. Investors should take note of this trend, as it reflects a broader confidence in technology's role in shaping future market dynamics. The sustained performance of tech stocks could signal a shift in market sentiment, where investors are willing to overlook seasonal patterns in favor of long-term growth potential. This environment may encourage further investment in tech, particularly in areas such as artificial intelligence, cloud computing, and cybersecurity, which are poised for continued expansion. Overall, the strong performance in May serves as a reminder that the tech sector remains a vital component of the market, capable of delivering substantial returns even in traditionally weaker months. As we move forward, the implications for tech stocks are clear: they are likely to remain in favor among investors seeking growth opportunities.

S&P 500, Nasdaq, Dow Jones Touch Record Highs as Trump Close to Making Decision on Iran Peace Deal

US equity indexes have reached intraday record highs, with the S&P 500, Nasdaq, and Dow Jones all experiencing significant gains. This surge reflects a robust investor sentiment, likely fueled by optimism surrounding geopolitical developments, particularly the potential for a peace deal involving Iran. Such diplomatic progress can lead to increased stability in global markets, which is particularly beneficial for tech stocks that thrive in a predictable economic environment. Investors should note that the tech sector often reacts positively to broader market rallies, as seen in previous instances where geopolitical tensions eased. The current momentum suggests that tech companies could see enhanced valuations as capital flows into growth-oriented sectors. Additionally, the record highs in these indexes may attract more institutional investment, further bolstering tech stocks. As companies in the tech space continue to innovate and expand, the favorable market conditions could amplify their growth trajectories. This environment presents a compelling opportunity for investors looking to capitalize on the tech sector's potential. Overall, the combination of record highs and positive geopolitical news sets a promising stage for continued growth in technology markets.

Dell, Cisco: How 'throwback' Tech Stocks Fit Into the AI Trade

Dell and Cisco are being positioned as "throwback" tech stocks that are increasingly relevant in the context of the artificial intelligence trade. This categorization suggests that these companies, traditionally associated with legacy technology, are finding new opportunities as AI continues to reshape the tech landscape. Investors should note that both firms are leveraging their established infrastructure and expertise to integrate AI capabilities into their offerings, which could enhance their competitive edge. The resurgence of interest in these stocks indicates a broader market trend where established players are not being overlooked in favor of newer entrants. As AI adoption accelerates across various sectors, companies like Dell and Cisco may benefit from increased demand for their hardware and networking solutions that support AI applications. This shift could lead to a reevaluation of their growth potential, making them attractive options for investors seeking exposure to the AI boom. Furthermore, the focus on these legacy companies highlights a potential diversification strategy within tech portfolios, balancing high-growth AI startups with more stable, established firms. The evolving narrative around Dell and Cisco underscores the importance of recognizing value in companies that can adapt to new technological paradigms. As the tech sector continues to evolve, these "throwback" stocks may play a crucial role in shaping the future of AI integration, offering investors a unique opportunity to capitalize on both stability and innovation.

Nasdaq Has Surged 25% in Just Two Months

The Nasdaq has surged 25% in just two months, marking its best performance over such a period since 2002. This remarkable rally includes an 8.4% increase this month alone, underscoring a robust recovery in tech stocks. Such a significant uptick indicates strong investor confidence in the tech sector, likely driven by favorable market conditions and positive sentiment surrounding technology companies. The last time the Nasdaq experienced a similar two-month stretch was in November 2002, a period that followed a major downturn, suggesting that the current momentum could signal a sustained recovery phase for tech equities. Investors should note that this surge may attract further capital inflows into the sector, as institutional and retail investors alike seek to capitalize on the upward trend. Additionally, the performance of the Nasdaq often serves as a bellwether for broader market sentiment, implying that a continued rally could bolster overall market confidence. As tech companies continue to innovate and adapt, the potential for growth remains strong, particularly in areas such as artificial intelligence and cloud computing. This environment may also lead to increased competition among tech firms, further driving advancements and market dynamics. Overall, the current surge in the Nasdaq reflects a pivotal moment for the tech sector, suggesting that investors should remain vigilant and consider the implications of this momentum for their portfolios.

OpenAI Needs 1.4 Gigawatts of Power - It Called a Michigan Utility Nobody’s Ever Heard of - That Stock Could Beat the Nasdaq

OpenAI's demand for 1.4 gigawatts of power underscores the escalating energy requirements of AI technologies, which is a critical factor for investors to consider in the tech sector. This substantial energy need highlights the growing compute footprint that is driving investments in major players like Oracle and Nvidia, both of which are pivotal in the AI landscape. As these companies continue to expand their capabilities, they are likely to command high valuations, reflecting the market's bullish sentiment on AI's potential. However, the focus on well-known tech giants may overshadow emerging opportunities, such as lesser-known utility companies that could benefit significantly from this AI-driven demand. The mention of a Michigan utility suggests that there are untapped stocks in the energy sector that could outperform traditional tech indices like the Nasdaq. Investors should be vigilant about these hidden gems, as they may offer substantial upside potential amid the broader AI buildout. The interplay between energy supply and AI growth will likely shape investment strategies moving forward, emphasizing the importance of diversification within tech portfolios. As the market evolves, those who recognize the significance of energy infrastructure in supporting AI advancements may find themselves ahead of the curve. Overall, the convergence of AI and energy presents a compelling narrative that could redefine investment landscapes in both sectors.

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Today's Interesting Company News

Drone Procurement Enters New Capital Cycle as Counter-UAS Market Projected to Reach $20 Billion by 2030

Duke Robotics Corp. (NASDAQ: DUKR) closed an underwritten public offering of approximately $9.2 million and began trading on the Nasdaq Capital Market under the symbol "DUKR". The company holds the intellectual property behind the Bird of Prey, a stabilized remote weapon system confirmed in operational use by the Israel Defense Forces and marketed globally by Elbit Systems (NASDAQ: ESLT) under a royalty-bearing collaboration agreement, with Duke reporting initial royalty revenues. In March 2026, the Israel Electric Corporation expanded its IC Drone purchase order to one Duke expects to generate over $1 million in 2026 revenue. Quantum Cyber N.V. (NASDAQ: QUCY) announced plans on May 28, 2026 to establish a U.S.-based defense-technology manufacturing complex, and disclosed that warrant exercises generated over $15 million in proceeds, leaving the company debt-free. Ondas Holdings Inc. (NASDAQ: ONDS) completed its acquisition of Omnisys for approximately $196.6 million and earlier completed a $175 million merger with Mistral Inc., bringing pro-forma backlog to $457 million as of March 31, 2026. AeroVironment, Inc. (NASDAQ: AVAV) was awarded a three-year, $43 million Department of War contract on May 12, 2026, and announced a $20 million Air Force Research Laboratory contract for advanced ceramic materials development on May 28. The company projects the global counter-unmanned aircraft system (C-UAS) market to grow from approximately $6.64 billion in 2025 to roughly $20.31 billion by 2030, with North America expected to lead that growth.

PU Prime Launches Pre-IPO Access With SpaceX

PU Prime, a global multi-licensed online brokerage, has announced the launch of SpaceX (SPCXUSD), a new pre-IPO CFD product. This product provides retail traders with broader access to the market narrative surrounding SpaceX, one of the world’s most closely followed private technology companies. The product allows traders to gain leveraged exposure to SpaceX ahead of its expected Nasdaq listing under the ticker symbol SPCX on June 12. PU Prime aims to remove traditional barriers of private equity, empowering clients to build a broader and more dynamic portfolio. The launch reflects growing global interest in private-market innovation and next-generation technology sectors, including commercial space infrastructure and satellite connectivity. PU Prime continues to expand its product offerings across globally relevant market themes in response to evolving demand. The announcement highlights PU Prime's commitment to providing innovative trading platforms and regulated financial products to traders worldwide.

ECARX and TPK to Co-Develop ORCA LiDAR Platform, an All-new LiDAR Platform for Global Markets

ECARX Holdings Inc. (NASDAQ:ECX) and TPK Holding Co., Ltd. have signed a binding memorandum of business cooperation to jointly develop LiDAR technologies for global markets. The agreement marks ECARX's formal entry into the LiDAR sector, with the parties co-developing the proprietary ORCA LiDAR platform. Mass production is scheduled to begin in 2028 at TPK's advanced production facility in Thailand. ECARX will lead system integration, sensor fusion, and global commercialization, while TPK will contribute optical design and high-volume manufacturing expertise. The ORCA LiDAR platform is engineered to meet stringent global regulatory and functional safety standards and aims to serve vehicle OEMs and robotaxi fleets. ECARX's technology is deployed across over 11 million vehicles worldwide and is partnered with 18 global automakers and 28 vehicle brands. The collaboration supports ECARX's strategy to deliver competitive, reliable solutions to global OEMs and robotaxi partners.

Clarivate Introduces IPOne

Clarivate Plc (NYSE: CLVT) announced the launch of IPOne, a unified platform that combines purpose-built AI agents and proprietary data to support intellectual property (IP) research and workflows across enterprise environments. IPOne is being developed in collaboration with leading corporate IP teams and law firms to address real-world IP workflows. The platform will allow law firms and corporate IP teams to leverage Clarivate AI agents to connect trusted proprietary IP data, including Derwent patent, Darts-ip litigation, and CompuMark trademark and industrial design data. IPOne is designed for high-value use cases such as discovery, clearance, prioritization, monitoring, analysis, and decision support across the IP lifecycle. The platform includes Model Context Protocols (MCPs) to enable secure integration with enterprise AI tools and LLM platforms. Clarivate aims to make its proprietary IP intelligence available wherever IP decisions are made, delivering intelligence as both a dedicated solution and through integration into client platforms. Interested parties are invited to sign up to receive updates about IPOne.

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Meta Announces Quarterly Cash Dividend

Meta Platforms, Inc. (NASDAQ:META) announced that its board of directors has declared a quarterly cash dividend of $0.525 per share for both Class A and Class B common stock. The dividend will be payable on June 25, 2026, to stockholders of record as of the close of business on June 15, 2026. Meta describes itself as building the future of human connection, powered by artificial intelligence and immersive technologies. The company highlights its evolution from Facebook's 2004 launch to its current suite of apps, including Messenger, Instagram, and WhatsApp, which serve billions globally. Meta states it is moving beyond 2D screens to foster deeper connections and unlock new possibilities.

Mercury Receives Largest Production Order for Its Common Processing Architecture Servers

Mercury Systems, Inc. (NASDAQ: MRCY) announced it has received a multi-year contract to deliver 1,000 RTBX06 BuiltSECURE™ servers to Blue Raven, a leading distributor in the defense industry. The contract leverages Mercury’s Common Processing Architecture and features U.S.-designed and manufactured motherboards, the latest data center-class compute silicon, and secure processing technology. Mercury is investing to expand production capacity, add automation, consolidate its operational footprint, and deepen supplier partnerships to meet growing demand and align with U.S. Department of War priorities. This contract represents Mercury’s largest single order for these systems and is a key step toward expanding availability and reducing lead times for customers. Under the agreement, Mercury will produce, configure, and support the servers, while Blue Raven will handle global resale and distribution. The partnership aims to make the mission-critical capability more accessible, affordable, and faster to field.

Ambarella, Inc. Announces First Quarter Fiscal Year 2027 Financial Results

Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, announced its first quarter fiscal 2027 financial results for the period ended April 30, 2026. Revenue for the quarter was $100.4 million, representing a 16.9% increase from $85.9 million in the same period of fiscal 2026. The GAAP net loss for the quarter was $18.1 million, or $0.41 per diluted share, compared to a GAAP net loss of $24.3 million, or $0.58 per diluted share, in the prior year. On a non-GAAP basis, net profit was $5.0 million, or $0.11 per diluted share, up from $3.0 million, or $0.07 per diluted share, in the same period last year. Gross margin under GAAP was 58.4%, while non-GAAP gross margin was 59.9%. The company ended the quarter with $277.8 million in cash, cash equivalents, and marketable debt securities. Ambarella provided guidance for the second quarter of fiscal 2027, with expected revenue between $105.0 million and $111.0 million, and announced a new $50.0 million stock repurchase program to commence after June 30, 2026.

Autodesk to Acquire MaintainX, Advancing Unified Platform in Operations

Autodesk, Inc. (NASDAQ:ADSK) announced it has entered into a definitive agreement to acquire MaintainX in an all-cash transaction valued at approximately $3.6 billion. The acquisition is intended to strengthen Autodesk's ability to connect real-world data and AI-powered insights across design, make, and operate workflows. Autodesk is creating Autodesk Operations Solutions (AOS) to unify its operations capabilities, including digital twin, planning and execution, and performance analysis. MaintainX is expected to achieve in excess of $135 million of annualized recurring revenue (ARR) for calendar year 2026 with growth in excess of 50 percent. Autodesk plans to fund the transaction with a combination of cash on hand and debt financing. The transaction is subject to regulatory reviews and other customary closing conditions, and is expected to close later this fiscal year. Additional information is available in Autodesk's investor materials at investors.autodesk.com.

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