TECH BULLETIN

Tuesday, July 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

OCAL Financial Details Its End-to-End Digital Vehicle-Financing Process

(TSXV: OCAL) OCAL Financial Inc. outlined its end-to-end remote vehicle purchasing process, which takes a customer from an online application to a delivered vehicle without a dealership visit. The process includes AI-assisted pre-qualification, human-in-the-loop review, lender routing, digital contracting, and home or workplace delivery. Based on management information for the trailing twelve months, the Company's median cycle time is approximately seven days from lead to signed and three to four days from signed to funded. OCAL operates remotely and is licensed in British Columbia and Alberta, sourcing vehicles only after customer approval and drawing on the OPENLANE auction network and select partners. The company earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. OCAL continues to invest in automation with the objective of compressing cycle times further and making a high-quality customer experience repeatable as volume grows. The company projects expansion into Ontario, Quebec, and the U.S. market (Washington, Arizona, and Nevada).

RenX Enterprises Launches Land Clearing Division and Wins First Purchase Order

(NASDAQ: RENX) RenX Enterprises Corp. announced the launch of its land clearing division and the receipt of the division's first purchase order. The purchase order was issued by a regional land development company and covers land clearing services at a project site in Florida. The recovered organic material from land clearing is transported to the Company's 80+ acre processing facility in Myakka City, Florida, where it becomes feedstock for mulch and compost production and, following the planned deployment of the Microtec system, engineered soils and substrate products. The division utilizes the Company's Komptech Crambo 6000, a high-capacity dual-shaft industrial shredder, to process material on site. The Company also owns a portfolio of legacy real estate assets, which it intends to monetize to fund its core technology-driven environmental processing platform. The Company projects that fee-based clearing revenue will complement the seasonality of compost, mulch, and growing media sales and smooth the cadence of revenue streams as the division scales. Commissioning the Microtec organic waste processing unit is expected for operation in the second half of 2026.

Axcelis Announces Successful Purion XEmax Eval Closure at Leading Semiconductor Foundry

(NASDAQ:ACLS) Axcelis Technologies, Inc. announced the successful Purion XEmax™ high energy implanter evaluation closure at a leading foundry. The system will be used for the production of Power Management Integrated Circuits (PMIC). The Purion XEmax™ high energy implanter provides the industry’s highest beam currents over the broadest energy range — up to 15MeV. The system features a dual LINAC design with patented Boost Technology™ for the industry's highest energies up to 15 MeV. Axcelis has been providing innovative, high-productivity solutions for the semiconductor industry for over 45 years. The Purion High Energy Series includes the Purion XE, Purion EXE™, Purion VXE™, Purion XE Power Series, and Purion XEmax with patented Boost™ technology.

01 Quantum Inc. and Carleton University to Collaborate With NC CIPSeR to Study Privacy and Data Risks in AI Systems

(TSXV: ONE) (OTCQB: OONEF) 01 Quantum Inc. announced a strategic research collaboration with Carleton University and the National Centre for Critical Infrastructure Protection, Security and Resilience (NC CIPSeR) to study, stress test, and evaluate defensive technologies against modern artificial intelligence ("AI") systems that can unintentionally reveal sensitive information and how advanced Post-Quantum Cryptography ("PQC") can prevent it. The project will simulate a realistic financial institution environment where multiple AI agents work together on tasks such as fraud detection and customer risk assessment. The first phase of the project will quantify data leakage from a standard, non-encrypted AI system, and a later phase will test an encryption compatible model component to demonstrate the potential applicability of Fully Homomorphic Encryption (FHE) as the solution. On June 22, 2026, President Trump issued an Executive Order (The PQC Order) directing U.S. federal agencies to accelerate preparations for quantum enabled cybersecurity threats, highlighting the NIST approved standards 01 Quantum is positioning itself to fulfill. IronCAP™ technologies are patent protected in the U.S.A. by patents #11,271,715 and #11,669,833. The company projects that this research partnership will provide independent, academically validated evidence to further prove the efficacy of its technology and solution stack.

Freightos Enables Live Air Cargo Booking in FreightSuite's AI-Native TMS

(NASDAQ: CRGO) Freightos Limited announced integration with FreightSuite, the pioneer of agentic, AI-native transportation management systems (TMS). The integration brings Freightos for Forwarders' real-time air cargo quoting, pricing, and booking capabilities directly into the FreightSuite TMS, embedding Freightos' network of over 75 airlines into FreightSuite's automated workflows. Forwarders can now access instant eBookings, live capacity, and dynamic pricing without leaving their primary operating system, slashing quote turnarounds from days to under two minutes. The automation has driven a 40% uplift in operator volume and protected a 3% to 8% net margin improvement for enterprise forwarders. Freightos is used by thousands of logistics service providers and businesses around the world. The announcement was made in Barcelona, Spain, on July 28, 2026. The company projects that forwarders can decouple their revenue growth from their headcount growth and scale seamlessly.

Ceragon Receives Approximately $120 Million in Orders From Operators in India Year-to-Date

(NASDAQ: CRNT) Ceragon announced that it has received and booked approximately $120 million in orders year-to-date from operators in India. These bookings represent an increase from the approximately $86 million announced in May. The orders support the continued expansion and modernization of nationwide 4G and 5G transport networks in India, including deployments of Ceragon's advanced microwave and millimeter wave wireless transport solutions such as the IP-50EXA and IP-50CX platforms. Ceragon solutions are deployed by more than 600 service providers and more than 1,600 private network owners in more than 130 countries. The year-to-date bookings further improve the Company's visibility into 2026. The company projects that India remains one of its most important strategic markets and believes it is well positioned to support operators as they continue investing in next-generation broadband infrastructure.

Meta Announces New Strategic Venture With BlackRock to Develop Data Center in El Paso

(NASDAQ: META) and (NYSE: BLK) announced a venture to develop and own a data center campus in El Paso, Texas, representing an investment of over $10 billion from Meta. The state-of-the-art data center campus will have 1 gigawatt of compute capacity and is currently under construction, with over 2,300 workers already onsite. Funds managed by BlackRock will own an 80% interest in the venture, while Meta will retain the remaining 20% ownership, and the parties have committed to fund their respective pro rata share of the approximately $14 billion in total development costs. At financial close, Meta will contribute land and construction-in-progress assets valued at approximately $2.3 billion, and BlackRock will make a cash contribution of approximately $4.9 billion, with a portion of BlackRock's investment funded by a $12.5 billion debt financing. Meta will receive a one-time distribution of approximately $1 billion to align ownership stakes, and Meta will enter into lease agreements for the entire campus with a four-year initial term and four options to extend, providing up to a 20-year term. The transaction is expected to close in the coming days and the venture expects to begin bringing this capacity online in 2028. The El Paso data center will support more than 4,000 construction jobs at peak and 300 operational jobs once complete, and Meta provided a $500,000 grant to El Paso public schools to support workforce development.

Vision Marine Technologies Introduces Connected Battery Monitoring App to Expand the Ownership Experience

(NASDAQ: VMAR; TSXV: VMAR) Vision Marine Technologies Inc. announced the availability of Vision Marine Tech, a mobile application designed to provide boat owners and service technicians with greater visibility into the condition and performance of compatible Vision Marine battery systems. The application is available through the Apple App Store and Google Play and connects to supported battery systems through Bluetooth. Users can view information including state of charge, total pack voltage, charge and discharge current, operating temperature, battery health, cycle count, individual cell voltages, and system alarms. The application provides practical diagnostic information when service is required, including access to operating data, cell-level information, alarms, and historical protection events. Vision Marine Tech is currently compatible only with Vision Marine battery systems equipped with supported Bluetooth-enabled battery-management hardware. Compatibility may vary depending on the battery configuration and installed equipment. The company projects anticipated benefits of the Vision Marine Tech application, including its potential to support trip planning, maintenance decisions, diagnostics, service efficiency, and the ownership experience, as well as the Company's development of additional digital tools and capabilities.

Inverite Announces Audited Consolidated Financial Results for Twelve and Three Months (Q4) Ending March 31, 2026

(CSE: INVR) Inverite Insights Inc. announced its comparative 12-month audited financial results for the year ended March 31, 2026 and March 31, 2025. The Company increased verification fee revenue by 19.9% or $238,419 to $1,436,796 (March 31, 2025 - $1,198,377) for the 12-month period ending March 31, 2026. Operating expenses decreased by 0.6% or $22,109 to $3,808,631 (March 31, 2025 - $3,830,740) for the same period. The Company recorded a net loss of $2,747,302 (March 31, 2025 - $2,606,568) for the 12-month period. For the three-month period ended March 31, 2026, verification fee revenue increased by 38.4% to $386,227 (March 31, 2025 - $278,998), and operating expenses decreased by 8.5% or $89,747 to $961,149 (March 31, 2025 - $1,050,896). The Company recorded a net loss of $961,629 (March 31, 2025 - $624,436) for the three-month period, with the increased net loss attributed to a one-time non-cash market price adjustment of $422,256 from shares for debt loan settlements. The company projects that continued investments are creating opportunities beyond traditional markets and that every new deployment strengthens the intelligence behind its platform.

Cognizant Launches EMEA AI Unit to Help Enterprises Scale Agentic AI Adoption

(NASDAQ:CTSH) Cognizant announced the launch of its EMEA AI Unit, a dedicated organization created to help enterprises across Europe, the Middle East and Africa move from AI ambition to enterprise value. The unit brings together advisory, engineering and delivery capabilities to help clients build, deploy and run agentic AI solutions grounded in their business context, designed to support measurable outcomes and independent of any single platform, model or cloud. Cognizant's Frontier Deployed Engineering offering is at the center of the launch, including three service models — Foundation, Accelerate and Transform — that support organizations from AI strategy and governance through to production deployment and end-to-end business reinvention. The unit is already supporting clients at different stages of maturity, including helping one of Europe's leading online fashion retailers move proven AI use cases into production and working with a global pharmaceutical leader to reimagine R&D operations. Cognizant works across cloud platforms, AI models and technology ecosystems, helping clients choose and scale the solutions that best fit their unique operating needs. The company projects that its fit-for-purpose teams will help clients move from pilots to scalable outcomes while supporting client efforts to address regional requirements such as data sovereignty, regulatory expectations and sector-specific operating needs.

Active Energy Group: Strategic Rationale of UAE Expansion

(ASX:AEG) Active Energy Group plc announced its continued expansion within the United Arab Emirates, providing shareholders with additional context regarding the strategic rationale underpinning this move. The company highlighted the UAE's position as a global centre for artificial intelligence, digital infrastructure, high-performance computing, and advanced technologies. The Board emphasized the critical importance of reliable electrical power and sustainable water supplies for AI infrastructure, noting the UAE's heavy investment in desalination, water infrastructure, and resource management. The announcement stated that AEG's immediate objective was to identify and develop power-backed digital infrastructure opportunities capable of supporting AI, HPC, and other compute-intensive applications. Management believes this integrated approach has the potential to create greater long-term shareholder value whilst aligning AEG with several of the UAE's most significant strategic priorities. The company continues to evaluate a growing pipeline of opportunities across the UAE and will provide further updates regarding operational activities, project pipeline, and broader strategic initiatives as developments progress.

Tavistock Investments: Acquisition of Plus Group

(AIM:TAVI) Tavistock Investments Plc announced the acquisition of 87.9% of Plus Group of Companies Limited for an initial consideration of £900,000 payable in cash, with a further £3.6 million payable in cash over the next eighteen months. Additional deferred consideration of up to £11.5m in cash may become payable over the balance of 4 years, subject to agreed performance criteria. In its last financial year to 30 September 2025, Plus Group recorded turnover of just less than £1 million and EBITDA of circa £340,000. Plus Group currently has two AI Agents operating live within production environments, two further AI Agents in beta testing, and 10 additional AI Agents under development. The acquisition follows Tavistock's recent acquisitions of Alpha Beta Partners and Lifetime Financial Management and kickstarts the Group's rebranding transition into the Vertex Group. Tavistock believes the greatest opportunity lies in equipping advisers with intelligent tools that ease administrative burdens and improve consistency. The company projects that artificial intelligence is expected to transform financial services over the coming decade and beyond.

Humanoid Global Provides Update on Agility Robotics Public Listing & Opens Silicon Valley AI Hub to Scale Digit Deployments

(CSE:ROBO, OTCQB:RBOHF) Humanoid Global Holdings Corp. announced an update regarding Agility Robotics, Inc., a portfolio company in which Humanoid Global holds a minority equity interest. Agility Robotics has entered into a definitive business combination agreement with Churchill Capital Corp XI, which is expected to result in Agility becoming a publicly listed company in 2026, subject to shareholder, regulatory and other customary approvals. The transaction values Agility at a pre-money equity value of US$2.5 billion and is expected to provide more than US$620 million in gross proceeds. Agility has secured more than US$300 million in multi-year Digit v5 orders, subject to contractual milestones, and Digit has accumulated over 65,000 operating hours across commitments at nine customer facilities. Agility Robotics has opened a 60,000-square-foot Physical AI development hub in Fremont, California, adding nearly 200 technical and field-operations roles. The company projects that the expansion is intended to meet growing demand for Digit in warehouse and manufacturing environments as the company scales enterprise deployments and prepares for its planned public listing. Humanoid Global is not a party to the proposed business combination and has no control over the transaction’s completion or timing.

Navitas Semiconductor Announces Second Quarter 2026 Financial Results

(NASDAQ: NVTS) Navitas Semiconductor announced unaudited financial results for its second quarter 2026 ended June 30, 2026, reporting total revenue of $10.5 million, a 22% sequential increase from $8.6 million in the first quarter of 2026. GAAP gross margin for the quarter was 0.4%, compared to (9.3%) in the first quarter of 2026 and (11.8%) in the second quarter of 2025, while non-GAAP gross margin was 39.5%. The company reported a GAAP net loss of $228.2 million, which included a non-cash charge of $203.1 million from the final remeasurement of earnout liabilities, and ended the quarter with $557.4 million in cash and cash equivalents. High-power markets grew more than 50% year-over-year, and AI Infrastructure markets, including AI Data Centers and Grid and Energy Infrastructure, are projected to represent more than one-third of total sales by year end. Third quarter 2026 net revenues are expected to increase to $13.5 million, plus or minus $0.5 million, representing 28% sequential growth, with non-GAAP gross margin expected to be 39.7%, plus or minus 100 basis points. The company anticipates achieving mid-single-digit revenue growth for the full year and continued double-digit sequential growth in the third quarter. Navitas has introduced a new Isolated TO product family for 1.2 kV to 3.3 kV SiC MOSFETs and expanded its SiC portfolio with a 1.2 kV JFET product line to be released by early 2027.

Applied Digital Reports Fiscal Fourth Quarter and Full Year 2026 Results

(NASDAQ:APLD) Applied Digital Corporation reported fiscal fourth quarter 2026 revenues of $258.7 million, up 407% from the prior year comparable period, and a net loss attributable to common stockholders of $110.6 million, down 108% from the prior year comparable period. The company completed the separation of its Cloud Services Business, resulting in ownership of approximately 96% of ChronoScale Holdings Corporation (NASDAQ:CHRN), which is now an independent publicly traded accelerated-compute platform. Applied Digital signed three 15-year take-or-pay leases with a high investment-grade hyperscaler for a total of 810 MW of critical IT load, representing approximately $20 billion in base-term contracted revenue, with initial operations for Delta Forge 1 and Polaris Forge 3 expected to commence in calendar year 2027 and Delta Forge 2 in the first half of calendar 2028. The company completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 and closed a revolving credit facility of up to $550 million, arranged by Goldman Sachs and maturing in May 2029. As of May 31, 2026, Applied Digital had executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses, representing approximately $36 billion of total contracted revenue over the initial 15-year base lease terms, or approximately $86 billion if all renewal options are exercised. The company generated $203.0 million in revenue from its HPC Hosting business for the quarter, including $44.1 million related to base rent, $152.4 million related to tenant fit-out services, and $6.5 million related to tenant recoveries. Applied Digital currently operates data centers totaling 286 MW for bitcoin mining across two North Dakota sites, generating $37.3 million in revenue from the Data Center Hosting Business segment for the quarter ended May 31, 2026.

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