TECH BULLETIN

Thursday, May 28, 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

WiMi Achieves Breakthrough in Deep Convolutional Neural Network Technology Based on Quantum Parameterized Circuits

WiMi Hologram Cloud Inc. (NASDAQ:WIMI) announced that its quantum deep convolutional neural network technology oriented toward image recognition tasks has achieved phased progress. The company has developed a model that combines quantum parameterized circuits with a quantum-classical hybrid training mechanism, aiming to address challenges in computational complexity, memory consumption, and training efficiency. WiMi conducted quantitative experimental testing of the model on a quantum simulation platform, demonstrating stable recognition performance despite current limitations in qubit numbers. The R&D team has built a complete software and algorithm framework supporting quantum circuit construction, data encoding, training optimization, and model evaluation. WiMi plans to continue optimizing the structural design of the quantum deep convolutional neural network and to explore more complex quantum neural network architectures. The company states that as quantum hardware matures, such technologies are expected to achieve larger-scale applications in the future. This development provides a new technical route for image recognition and lays a foundation for the future of quantum artificial intelligence.

Blue Ops Ramps into Full-Rate Production of U.S.-Built Variant 7, Advancing Red Cat’s Autonomy Stack Across Air, Land and Sea

Red Cat Holdings, Inc. (NASDAQ:RCAT), a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, announced that its maritime division, Blue Ops, is ramping into full-rate production of the Variant 7 (V7) uncrewed surface vessel (USV). The V7 is designed, built, and assembled in the United States for U.S. and allied defense missions, featuring a Steyr engine and a domestic autonomy, command-and-control, communications, and mission systems stack. Blue Ops prioritized U.S.-made and NDAA-compliant components, reflecting a commitment to domestic research, development, manufacturing, and trusted supply chains. The V7 is designed in Maine, manufactured in both Maine and Valdosta, Georgia, and supported by research, development, and testing in West Palm Beach, Florida. The production launch builds on more than 250 years of U.S. maritime excellence and is supported by Hodgdon Shipbuilding and the Hinckley Yacht family's 98-year legacy. Red Cat’s acquisition of Apium Swarm Robotics will further strengthen Blue Ops’ autonomy roadmap, with Apium continuing to develop its multi-agent autonomy architecture for integration with the V7 and Red Cat’s Family of Systems. The move into full-rate production aligns with federal policy prioritizing the revitalization of the U.S. maritime industrial base and the rapid fielding of autonomous systems.

Counterfeiters Stole an Estimated $500K From One Brand - This NASDAQ Apparel Stock Is Building the AI That Fights Back

Digital Brands Group, Inc. (NASDAQ: DBGI) announced a new strategic AI and brand protection collaboration with a globally recognized outdoor performance apparel brand. The initiative is supported by DBG's existing relationship with SECUR3D Inc., a Vancouver-based AI brand protection company, whose technology is expected to assist in identifying unauthorized digital assets and counterfeit-related listings. In March 2026, DBG released early data from its first major AI brand protection deployment with Herschel Supply Co., where the platform identified counterfeit activity tied to an estimated $500,000 in losses. The company has also layered in partnerships across AI-powered influencer marketing, brand protection, and applied AI research and development over the past two quarters. DBG is positioning itself as a hybrid consumer brand operator and AI-enabled platform, aiming to address the $467 billion global counterfeit problem. The company intends to continue exploring a broader suite of AI-powered technologies and strategic partnerships.

Supermicro Collaborates with Taiwanese Authorities to Prevent Illicit Diversion of Server Technology

Super Micro Computer, Inc. (NASDAQ:SMCI) announced its recent collaboration with Taiwanese authorities to prevent the illicit diversion of its server technology into the restricted China market. The company reported that this cooperation led to the arrest of three suspects and the seizure of 50 servers that had been deceptively acquired after being sold to an authorized reseller. Supermicro emphasized that the initial transaction followed a rigorous vetting and review process exceeding applicable government requirements. The company highlighted the challenges of downstream resales and the importance of continued collaboration with industry and government to enforce export control laws. Supermicro stated its ongoing commitment to working with law enforcement and government officials in the United States, Taiwan, and other jurisdictions to ensure lawful distribution of its technology. The announcement also reiterated Supermicro's global leadership in Application-Optimized Total IT Solutions and its in-house manufacturing operations in the US, Taiwan, and the Netherlands.

Cheche Group Launches AI Large Model-Driven Intelligent Connected Vehicle Pricing Product, Solidifying its Market Position

Cheche Group Inc. (NASDAQ: CCG), China's leading auto insurance technology platform, announced the official launch of its proprietary, AI large model-driven intelligent connected vehicle pricing product. The product targets China's expanding market of approximately 20 million intelligent connected new energy vehicles (NEVs) and utilizes advanced machine learning and multi-dimensional data analytics. By analyzing real-time driving behavior, usage patterns, and localized risk scenarios, the technology delivers precise, personalized insurance pricing tailored to individual drivers. The rollout aims to advance the automotive insurance sector by enabling precision risk engineering and granular risk management. Cheche highlights the commercialization of advanced AI applications for the large-scale NEV market as a key competitive advantage. The company is positioned to expand its addressable commercial opportunities within the high-growth NEV segment.

Broadridge and Kyndryl Extend Agreement to Bring Leading Edge Resiliency and Enhanced AI Capabilities to Broadridge Infrastructure

Kyndryl (NYSE:KD) and Broadridge Financial Solutions, Inc. (NYSE:BR) announced an extension of their longstanding relationship to strengthen core platforms and integrate AI-enabled operations with quantum-safe capabilities. The expanded agreement will leverage Kyndryl Bridge and the Kyndryl Agentic AI Framework to support Broadridge's strategy for democratizing and digitizing investing, simplifying trading, and modernizing wealth management. Kyndryl will invest in modernizing Broadridge's data center, network architecture, and core mainframe environment, including a strategic refresh to a next-generation, quantum-safe platform. The transformation will incorporate AI-enabled capabilities for more intelligent operations, faster issue resolution, and reduced technical complexity. Broadridge's platforms support clients across all global financial services, emphasizing resiliency and trust. The collaboration aims to strengthen the resiliency, availability, and future readiness of critical platforms for Broadridge clients. Broadridge processes and generates over 7 billion communications annually and underpins the daily average trading of over $15 trillion in tokenized and traditional securities globally.

Arbe Announces Q1 2026 Financial Results

Arbe Robotics Ltd. (NASDAQ: ARBE), a global leader in perception radar solutions, announced its financial results for the first quarter ending March 31, 2026. The company reported Q1 2026 revenues of $0.5 million, up from $0.04 million in Q1 2025, and a net loss of $9.4 million, improved from a net loss of $13.8 million in Q1 2025. Arbe closed an underwritten registered direct offering, raising $18.5 million in gross proceeds, and had $53.6 million in cash and cash equivalents and short-term bank deposits as of March 31, 2026. The company began shipping chipsets to Hirain for a 48x48 imaging radar project and started sales of full radar systems, with initial units shipped to major players in perimeter-security and physical AI fields. Operating expenses decreased to $11.2 million in Q1 2026 from $13.1 million in Q1 2025, primarily due to lower share-based compensation expenses. Arbe reaffirmed its full year 2026 outlook, projecting revenue in the range of $4 million to $6 million and adjusted EBITDA loss between ($28 million) and ($31 million). The company is confident in its broadened market focus and expects revenue growth in the upcoming quarters of 2026.

STARTRADER Launches SPCXUSD, Offering Exposure to Space Exploration Technologies (SpaceX) ahead of IPO

STARTRADER has launched SPCXUSD, a new trading instrument offering exposure to Space Exploration Technologies (SpaceX) ahead of IPO. The instrument will be available on MT5 from 28 May 2026, with STARTRADER App trading starting on 1 June 2026. SPCXUSD provides 24/7 trading access and 20x leverage, allowing traders to gain exposure to SpaceX before a formal listing. Current projections estimate SpaceX's valuation between USD 1.75 trillion and USD 2 trillion, positioning it as one of the most valuable private-to-public transitions ever. The recent successful Starship V3 test flight on 22 May has increased confidence in SpaceX's long-term prospects. STARTRADER is regulated across five jurisdictions and serves both retail and institutional clients.

Bit Digital Originates Strategic Financing Facility Supporting WhiteFiber Growth Initiatives

Bit Digital, Inc. (NASDAQ:BTBT) announced that it has originated and served as a lender for a $100 million delayed draw term loan facility for a subsidiary of WhiteFiber, Inc. (NASDAQ:WYFI). The facility is designed to support WYFI's near-term growth initiatives and provides WhiteFiber with access to up to $100 million in delayed draw financing, expandable to $150 million upon mutual agreement. Bit Digital expects to fund advances through drawings against an Ethereum-denominated secured credit facility, allowing the company to retain ETH exposure while earning a financing spread. The transaction was approved by Bit Digital's Board after a comprehensive governance process, including independent committee review and fairness opinions from Needham and Company LLC and Seaport Global Securities, LLC. The facility is intended to advance Bit Digital's capital allocation strategy and is expected to provide economics that significantly exceed traditional ETH staking yields. This transaction reflects Bit Digital's differentiated capital allocation approach and supports its AI Infrastructure investment thesis.

HP Inc. Reports Fiscal 2026 Second Quarter Results

HP Inc. (NYSE: HPQ) announced its fiscal 2026 second quarter financial results, reporting strong growth in revenue and earnings. The company achieved second quarter GAAP diluted net earnings per share (EPS) of $0.49, up 16.7% from the prior year, and non-GAAP diluted net EPS of $0.86, up 21.1%. Net revenue for the quarter was $14.4 billion, representing a 9.0% increase year over year. HP returned $374 million to shareholders through dividends and share repurchases, and generated $0.8 billion in free cash flow. The company updated its outlook for the third quarter and full fiscal year 2026, projecting GAAP diluted net EPS of $0.47 to $0.63 and non-GAAP diluted net EPS of $0.61 to $0.71 for Q3, and full-year GAAP diluted net EPS of $2.15 to $2.45 and non-GAAP diluted net EPS of $2.90 to $3.10. HP anticipates generating free cash flow in the range of $2.8 to $3.0 billion for fiscal 2026. These results and projections reflect HP's ongoing execution of its future of work strategy and focus on AI-powered innovation.

nCino Reports First Quarter Fiscal Year 2027 Financial Results

nCino, Inc. (NASDAQ: NCNO), the platform for agentic AI banking, announced its financial results for the first quarter of fiscal year 2027, ended April 30, 2026. The company reported total revenues of $159.4 million, up 11% year-over-year, and subscription revenues of $140.9 million, up 12% year-over-year. GAAP operating margin reached 13%, up 1,400 basis points year-over-year, while non-GAAP operating margin was 28%, up 1,100 basis points year-over-year. GAAP income from operations was $21.1 million, compared to a loss of $(1.5) million in the same quarter last year, and non-GAAP operating income was $44.5 million, up 79%. Free cash flow for the quarter was $80.8 million, a 54% increase from the prior year. The company repurchased approximately 6.1 million shares for about $93.1 million and has $65.0 million remaining for future repurchases. nCino provided guidance for the second quarter and full fiscal year 2027, projecting continued growth in revenues, subscription revenues, non-GAAP operating income, free cash flow, and annual contract value.

Nutanix Reports Third Quarter Fiscal 2026 Financial Results

Nutanix, Inc. (NASDAQ:NTNX) announced its financial results for the third quarter ended April 30, 2026, reporting strong performance across all guided metrics. The company achieved 15% year-over-year growth in Annual Recurring Revenue (ARR), reaching $2.43 billion, and delivered revenue of $703.1 million, a 10% increase from the prior year. GAAP operating income was $70.5 million, while non-GAAP operating income reached $156.5 million. Free cash flow for the quarter was $197.2 million. Nutanix also unveiled new innovations in AI and cloud, formed a strategic alliance with NetApp, and announced a $750 million increase to its share repurchase authorization. Looking ahead, Nutanix raised its full year guidance and provided outlooks for Q4 and fiscal 2026, emphasizing its focus on sustainable growth and profitability.

Everpure Announces First Quarter Fiscal 2027 Financial Results

Everpure (NYSE: P) announced its financial results for the first quarter of fiscal year 2027, ending May 3, 2026. The company reported total revenue of $1.1 billion, representing a 35% year-over-year increase, and product revenue of $577 million, up 55% year-over-year. Subscription services revenue reached $476 million, up 17% year-over-year, while subscription annual recurring revenue (ARR) was $2 billion, up 19% year-over-year. Remaining performance obligations (RPO) totaled $3.8 billion, up 41% year-over-year. The company completed the strategic acquisition of 1touch and formally transitioned its brand from Pure Storage to Everpure, updating its ticker symbol to NYSE: P. Everpure increased its FY27 revenue and operating profit guidance, reflecting confidence in its ability to deliver on its priorities.

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