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Oracle reported fiscal Q4 2026 results June 10, beating revenue at $19.18B vs. $19.10B expected and EPS of $2.11 vs. $1.89 expected. Investors punished the stock anyway — sending it as low as $117 — after management disclosed plans to spend $70B on AI data center buildouts in FY2027, funded partly by a $20B dilutive share sale. FY2026 capex already surged 162% to $55.7B, producing $23.7B in negative free cash flow.
CrowdStrike posted a record Q1 net new ARR of $256M, up 32% year-over-year, and raised FY2027 ARR growth guidance by 520 basis points at the midpoint. The company then announced a 4-for-1 stock split effective July 2, 2026 — a move that tends to draw retail attention ahead of the effective date. AI-driven cybersecurity is clearly one area of the market where nobody's arguing about demand right now.
Broadcom's weaker-than-expected custom AI chip guidance this week rattled the entire semiconductor sector: AMD fell 10.86% to close at $466.38, Intel crashed 11.28% to $99.17, and ARM dropped 4% in the same session. Broadcom itself shed roughly 12%. The selloff amplified existing concerns about memory supply gluts and smartphone demand softness, raising questions about whether the AI chip cycle is losing altitude.
Palantir's Q1 2026 US revenue surged 104% year-over-year and the company raised its 2026 full-year guidance this month. But Wall Street can't agree on valuation: Citigroup has a $260 price target (Buy), Rosenblatt is at $225, Loop Capital at $220 — while HSBC just trimmed to $151 (Hold) and Phillip Securities also cut. With the stock trading around $137 in late May, that's one of the widest analyst spreads you'll see on a company this size.
Nvidia picked up a double tailwind: Deutsche Bank lifted its price target to $220, and S&P Global upgraded the company's credit rating, citing "insatiable demand" for AI systems. The stock hit an all-time closing high of $235.47 on May 14 and is currently trading around $205 — roughly 13% off that peak. The S&P credit upgrade signals that bond markets view Nvidia's cash flows as structurally robust, not just cyclically elevated.
Microsoft is the worst-performing hyperscaler of 2026, down 23% year-to-date despite committing over $120B in AI infrastructure capex this year. The FTC antitrust probe initiated under Biden is reportedly advancing under the Trump-era commission, focused on cloud, AI software, and bundling practices. Separately, Senators Warren and Wyden launched a congressional investigation targeting the Microsoft-OpenAI partnership as a potential antitrust end-run.
The hyperscalers are collectively spending between $600B and $725B on AI infrastructure in 2026 — a 36% jump over last year. Amazon Web Services leads with a $200B commitment, the largest single-company tech capital spend in history. Goldman Sachs projects AI companies will collectively top $500B this year. Over $108B in debt was raised across the sector in 2025 alone to fund the buildout, with projections of $1.5T over the coming years.
The EU's Technological Sovereignty Package, published June 3, would create significant procurement hurdles for US cloud providers — Google, Amazon, and Microsoft — in European public-sector contracts. The legislation is part of a broader EU push to reduce dependency on American AI infrastructure and could meaningfully impact cloud revenue growth across all three companies in the region.
Senators Warren and Wyden formally opened a congressional investigation into Google's partnership with Anthropic and Microsoft's partnership with OpenAI, arguing the multi-billion-dollar deals function as de facto acquisitions that bypass traditional merger review. Both companies are simultaneously navigating separate FTC scrutiny. The inquiry adds regulatory overhang to two of the most commercially significant AI partnerships in the industry.
Hewlett Packard Enterprise surged 16% on strong quarterly earnings, with CEO Antonio Neri pointing squarely to AI infrastructure demand and issuing confident 2027 guidance. HPE sells the servers, networking, and hybrid cloud gear that AI model builders need — the classic pick-and-shovel play — and this quarter's results suggest that positioning is resonating with enterprise customers doing real deployments.
