Software & Services

The fair value estimate for Palo Alto Networks has been raised from US$336.70 to US$395.38, a roughly 17% increase in the underlying model, after a wave of analyst price target hikes. RBC Capital, Wells Fargo, BofA, Morgan Stanley and Truist lifted their targets into the low to mid US$400s, citing stronger cybersecurity demand as AI usage expands and customers consolidate spending with larger platforms. Goldman Sachs, Oppenheimer, BTIG and Susquehanna pointed to solid Q4 results and guidance, with broad based strength across firewalls, SASE, observability, identity and AI security modules. On the bearish side, Bernstein and Phillip Securities moved to more neutral stances while still raising targets, and Stephens and UBS described the risk or reward as more balanced with shares near peak valuation levels. The updated model trims the revenue growth assumption to about 17.31% from about 19.09% and the net profit margin outlook to about 13.84% from about 14.51%, while the future P/E rises to about 197.87x from about 164.67x and the discount rate adjusts to about 8.60% from 8.40%.

Unity Software Inc. closed at $41.16, down 1.63% from the prior session, lagging the S&P 500's 0.17% gain. The company is projected to post earnings of $0.34 per share for its upcoming quarter, a 70% increase from the same quarter last year, on revenue of $564.84 million, up 20.02%. For the full fiscal year, the Zacks Consensus Estimates project earnings of $1.21 per share and revenue of $2.22 billion, representing growth of 40.7% and 19.95%, respectively. Unity carries a Zacks Rank of #2 (Buy), with the consensus EPS estimate unchanged over the past 30 days, and trades at a forward P/E of 34.58 versus an industry average of 20.16.

Strategy Inc. shares climbed just over 16% on Friday, rising $21.67 to close at $153.92, as crypto-related stocks broadly advanced after the SEC approved a temporary "Innovation Exemption" allowing certain venues and liquidity providers to facilitate trading in tokenized U.S.-listed stocks. The move followed two weeks of choppy trading for the stock, which operates as both a Bitcoin Treasury Company and an enterprise analytics software provider. Strategy holds approximately 845,050 Bitcoin as a treasury reserve, financed through equity, debt, and preferred securities. Volume reached 53.9 million shares, roughly 1.96 times the one-month average, and the stock's one-month return stands at 35.39%.

CleanSpark Inc.'s debut junk-bond offering for a data center tied to Meta Platforms Inc. drew orders of about $10 billion, more than four times the deal's size, according to people familiar with the matter. The five-year notes were set at almost $2.28 billion and launched at 98.5 cents on the dollar to yield 8.25%, roughly 1.75 percentage points above the average for BB rated firms tracked by Bloomberg. The fundraising, led by Morgan Stanley, will help finance construction of a data center in Sandersville, Georgia, that has been fully leased to Anviran LLC, a Meta subsidiary, under a $6.6 billion, 20-year contract. The facility is expected to begin operations in the fourth quarter of 2027, with Meta guaranteeing rent and operating expenses. Data center developers have now sold more than $3 billion of high-yield bonds so far this year, most backed by long-term leases with hyperscalers including Oracle Corp. and Amazon.com Inc.

Palantir Technologies' commercial revenue surged 110% to $945 million in the second quarter of 2026, more than doubling the $451 million recorded a year earlier. The commercial segment added $494 million year over year, expanding by more than its entire year-earlier base, while government revenue rose 79% to $990 million from $553 million. Combined, the two businesses generated $1.94 billion in second-quarter 2026 revenue, up from roughly $1 billion a year earlier, with commercial operations contributing more than half of the combined year-over-year increase and narrowing the gap with government revenue to just $45 million. Among peers, C3.ai reported fiscal fourth-quarter 2026 revenue of $51.6 million, down substantially year over year, and forecast fiscal 2027 revenue of $210-$240 million, while Datadog's second-quarter 2026 revenue rose 36% to $1.12 billion, with customers contributing at least $100,000 in ARR up 23% to roughly 4,720 and free cash flow of $279 million. Palantir shares have gained 37% over the past three months against 19% industry growth, and the stock trades at a forward price-to-sales ratio of 39.96X versus an industry average of 4.2X, carrying a Value Score of F and a Zacks Rank #1 (Strong Buy).

Samsara now expects a thinner free cash flow margin and a fatter operating margin for fiscal 2027, as the company pays upfront for the IoT hardware that carries its AI subscriptions. The CFO said Samsara buys the devices upfront while revenue comes back ratably over the customer contract, and the company cited the IoT devices that faster growth needs, inventory it is prebuying as a buffer, and higher supply chain costs in the second half of fiscal 2027. Free cash flow margin is guided about 100 basis points below fiscal 2026, which on the $2.04 billion of revenue guided for fiscal 2027 works out to roughly $20 million, while the non-GAAP operating margin guide rose to 21% from 20%. More than 20% of Samsara's net new contract value came from emerging products in each of the last three quarters, and deals with a top-five U.S. city included more than $2 million of emerging products in fiscal Q2 2027. Samsara crossed $2.1 billion in annual recurring revenue in fiscal Q2 2027, up 30% over the past year, and raised its fiscal 2027 revenue, growth, operating margin and earnings guides at one release.

Nebius Group shares jumped nearly 9% in Thursday premarket trading after the AI cloud provider reportedly raised prices across several compute services, a signal that demand for scarce GPU capacity remains strong. According to a customer communication circulated online, Nebius plans to increase prices for several on-demand GPU offerings beginning October 1, covering Nvidia's H100, H200, B200 and B300 accelerators. The reported increases extend beyond GPUs: prices for AMD EPYC Genoa CPU compute are expected to rise 25% to $0.015 per vCPU-hour from $0.012, while memory pricing tied to Genoa systems is reportedly increasing about 41% to $0.0045 per GiB-hour from $0.0032. Nebius has not publicly confirmed the pricing changes and did not immediately respond to a request for comment. The market reaction spread beyond Nebius, with IREN shares rising about 5.1% in premarket trading and CoreWeave gaining roughly 6.1%, suggesting investors read the reported increases as a positive signal for the wider neocloud industry.

Salesforce CEO Marc Benioff unveiled AIforce, an AI connectivity layer that lets employees access Salesforce data and run complex workflows inside third-party AI tools such as Anthropic's Claude and Slack, at Dreamforce 2026, using the stage to directly criticize Microsoft. AIforce launched with three integrations: Claudeforce, built in partnership with Anthropic, brings Salesforce data directly into Claude; Slackforce connects that same data to conversations in Slack; and AgentforceCoworker operates inside Salesforce's own Lightning interface. Benioff framed AIforce as the answer to what he calls the "Fantasyland" problem, arguing that rival AI tools like Microsoft's Copilot lack the reliable business data layer required to safely power a business, extending a public rivalry that dates to Dreamforce 2024, when he compared Copilot to "Clippy." Salesforce generated $11.35 billion in revenue during its most recent quarter, beating Wall Street's expectations on both earnings and revenue, and CRM stock has rallied about 34% over the past month after falling as much as 37% earlier in 2026, closing at $255.65 on Sept. 15. On the same day as the Dreamforce announcement, Salesforce suffered a global service disruption that locked some customers out of their systems, and investors are watching Agentforce and Data 360 adoption numbers in the next quarterly report, where combined annual recurring revenue already exceeds $2.9 billion, more than 200% growth from a year ago.

BILL Holdings reported fourth-quarter fiscal 2026 non-GAAP net income of 84 cents per share, beating the Zacks Consensus Estimate of 69 cents and rising 58.5% from a year ago, on revenues of $436.2 million that grew 13.8% year over year and topped estimates by 1.5%. Total payment volume reached $98 billion, up 14% year over year, while core revenues, comprising subscription and transaction fees, rose 16% to $400.5 million. Non-GAAP operating income increased to $101.6 million from $56.4 million, lifting the non-GAAP operating margin to 23%, up 860 basis points year over year. The company repurchased approximately 8.4 million shares during the quarter for about $300 million, leaving $400 million under its $1 billion share repurchase authorization. For fiscal 2027, management forecasts total revenues of $1.81-$1.86 billion, core revenues of $1.67-$1.72 billion and non-GAAP net income per share of $3.56-$3.79.

CleanSpark has signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, a deal the company expects to generate $330 million in annual revenue. Chairman and CEO Matt Schultz said the site includes a fully energized 250-megawatt substation, that CleanSpark secured an additional 122 acres with community support, and that the tenant received short-term exclusivity for up to 885 additional megawatts in Texas, with the first data hall targeted for delivery in December 2027. The announcement came during an H.C. Wainwright panel where mining and AI infrastructure executives described a broad pivot from bitcoin operations toward AI colocation, cloud services and GPU-as-a-service. Core Scientific's Russell Cann said direct-liquid-cooled construction costs have climbed from roughly $4.5 million per megawatt for early projects to about $10 million to $10.5 million per megawatt for facilities turned on this year and $12 million to $13 million per megawatt for projects expected to start operating in 2027. Cann also said Core Scientific recently announced a roughly 500-megawatt agreement with AMD, with AMD holding rights to the next 2,000 megawatts across sites in Hunt County and Pecos, Texas, and Muskogee, Oklahoma, under a 15-year triple-net lease at $125 per megawatt or a modified gross structure at $145 per megawatt. Executives pushed back on AI bubble concerns, with Cann noting roughly 5 gigawatts of rack space is delivered annually against approximately 15 gigawatts of annual chip demand, while cautioning that many power requests may be duplicative or unsupported by actual transmission, substations or fuel supply.

Cloudflare said more than 50% of the traffic flowing across its network was nonhuman in the second quarter of 2026, reflecting rapid growth in AI agents and machine-to-machine traffic. The company ended the quarter with more than 7.4 million developers on its Workers platform, adding nearly two million in the quarter alone, and management said Workers remains one of the fastest-growing parts of its business. Cloudflare also introduced Monetization Gateway, Wallets and cloudflare.pay during the quarter to support transactions between AI agents, businesses and content providers. Second-quarter revenues increased 36% year over year, while dollar-based net retention reached 120%, and management said its total addressable market has expanded to more than $300 billion from $30 billion at the time of its IPO. The Zacks Consensus Estimate points to Cloudflare revenue growth of 32.5% in 2026 and 28.6% in 2027, with 2026 earnings estimated at $1.26 per share, up 35.5% from the prior year.

IBM's Software business slowed in the second quarter of 2026, with revenues up 5% year over year to $7.8 billion but organic revenue growth flat, as weakness in the Transaction Processing business drove an 8% revenue decline there. The company attributed the shortfall to customers shifting capital spending toward servers, storage and memory to secure supply-constrained infrastructure ahead of anticipated price increases, which left several large software deals unclosed within the expected timeframe. Still, roughly 80% of annual Software revenues is recurring, and Red Hat remained a key growth engine, with Hybrid Cloud revenues up 11% and OpenShift ARR reaching $2.2 billion, while the Data business grew 19% year over year. The acquisitions of HashiCorp and Confluent strengthened IBM's automation, data and hybrid-cloud capabilities, and Software segment profit rose 9% to $2.5 billion with segment margin up 110 basis points to 32.2%. IBM faces competition from Microsoft, whose Productivity & Business Processes segment generated $37.8 billion in June-quarter revenues, up 14% year over year, and from Oracle, whose cloud revenues surged 47% in USD and 46% in cc to $9.9 billion even as its Software revenues fell 2% to $6.8 billion.

Snowflake raised its fiscal 2027 product revenue guidance to $6.07 billion, implying 36% year-over-year growth, up from its previous outlook of $5.84 billion and 31% growth. In the fiscal second quarter 2026, product revenues rose 37% to $1.49 billion and accounted for 96% of total revenues. Management said AI products contributed roughly half of the recent acceleration, with CoCo surpassing 9,100 accounts after adding more than 2,000 in the quarter and CoWork expanding to 5,800 accounts, up nearly 11% sequentially. The company ended the second quarter of fiscal 2027 with 14,554 total customers, up 32% year over year, including 828 customers generating more than $1 million in trailing 12-month product revenues, up 27%, and 65 customers above $10 million. Fiscal third-quarter product revenues are expected between $1.588 billion and $1.593 billion, indicating 37-38% growth, while the Zacks Consensus Estimate for fiscal 2027 earnings stands at $2.19 per share, up 11.16% over the past 30 days.

Former United Kingdom Prime Minister Liz Truss has joined the Board of Directors of Roundtable, the Nasdaq-listed media operating system company, and will lead the formation of a European Press Coalition. Roundtable CEO James Heckman announced the appointment, saying Truss will focus on leveraging the company's media operating system to help high-quality journalism self-support. Truss served 14 years in British public life as Prime Minister, Parliamentarian, Foreign Secretary, International Trade Secretary and Chief Secretary to the Treasury. Roundtable said it has assembled an audience exceeding 100 million and a $100 million marketplace shared by dozens of premium media brands and hundreds of professional journalists, with Truss positioned to help curate and expand journalism within that ecosystem. The company describes itself as the world's only AI and DeFi-powered Enterprise Media Operating System, integrating distribution, publishing, monetization, community, syndication and DeFi payment operations.

CoreWeave exited the second quarter of 2026 with $104.2 billion in revenue backlog, up 246% year over year, a figure that excludes more than $25 billion of net new customer commitments added in the early weeks of the third quarter. Management said more than half of the existing backlog was already tied to contracts where customer delivery had begun, and expects that proportion to exceed two-thirds of the second-quarter backlog by year-end. Quarterly revenues surged $2.6 billion, up 112% year over year, while adjusted operating income rose sequentially to $128 million, prompting the company to raise its 2026 revenue guidance to $12.4-$13.2 billion and adjusted operating income guidance to $960 million to $1.15 billion. CoreWeave also lifted its expected year-end annualized run-rate revenues to $18.5-$19.5 billion, citing the long-term nature and attractive margins of contracted backlog. Supporting that backlog is capital-intensive buildout: capex was $9.4 billion, construction in progress rose sequentially to $11.9 billion, operating expenses reached $2.6 billion including $165 million in stock-based compensation, and interest expense hit $640 million versus $267 million a year earlier, with interest expense expected to climb to $860-$940 million in the current quarter. At the end of the second quarter CoreWeave had 1.5 gigawatts of active power after adding nearly 500 megawatts during the quarter, plus 3.7 gigawatts of contracted power, which management said has since risen to 4.2 gigawatts toward a goal of at least 8 gigawatts by 2030, while competition intensifies from Nebius and Microsoft.

UiPath has been rated Zacks Rank #2 (Buy), with the consensus estimate for the current quarter rising 15.2% over the last 30 days to $0.18 per share, a year-over-year change of +12.5%. For the current fiscal year, the consensus earnings estimate of $0.79 points to a change of +9.7% from the prior year and has moved +19.1% over the past 30 days, while the next fiscal year's estimate of $0.91 indicates a change of +14.1% and has changed +0.4% over the past month. The consensus sales estimate of $442.63 million for the current quarter points to a year-over-year change of +7.7%, with the $1.79 billion and $1.94 billion estimates for the current and next fiscal years indicating changes of +11.1% and +8.1%, respectively. In the last reported quarter, UiPath reported revenues of $410.26 million, a year-over-year change of +13.4%, and EPS of $0.15, matching the year-ago figure, with a revenue surprise of +3.19% against the Zacks Consensus Estimate of $397.59 million and an EPS surprise of 0%. The stock has returned -13.6% over the past month versus the Zacks S&P 500 composite's -1.3% change, while the Zacks Internet - Software industry has gained 7.8% over this period, and UiPath carries a Zacks Value Style Score of C.

Snowflake Inc. is drawing heightened investor attention after Zacks Investment Research highlighted sharply rising earnings estimates for the data-warehousing company. For the current quarter, Snowflake is expected to post earnings of $0.60 per share, a change of +71.4% from the year-ago quarter, while the Zacks Consensus Estimate has moved +17.5% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $2.19 points to a change of +75.2% from the prior year, and for the next fiscal year the consensus estimate of $2.84 indicates a change of +29.6%. On revenue, the consensus sales estimate for the current quarter of $1.64 billion indicates a year-over-year change of +35.5%, with current and next fiscal year estimates of $6.29 billion and $8 billion pointing to changes of +34.2% and +27.3%, respectively. In its last reported quarter, Snowflake posted revenues of $1.55 billion, a year-over-year change of +35.1%, and EPS of $0.62 versus $0.35 a year ago, beating the Zacks Consensus revenue estimate of $1.47 billion by +4.91% and the EPS estimate by +37.78%. Citing the size of the recent change in the consensus estimate along with three other earnings-related factors, Zacks rates Snowflake Zacks Rank #2 (Buy), though the stock carries a Zacks Value Style Score of F, indicating it trades at a premium to its peers.

Amazia announced that it will record a 13 million yen gain on the sale of investment securities as an extraordinary profit, following the partial sale of shares in its investee Skyfall in connection with Skyfall's initial public offering. The announcement served as a catalyst for the stock, and Amazia's share price showed a sharp move in morning trading. The announcement was made on September 17, the previous day. The current price is 323 yen, up 8 yen from the previous day's close.

International Business Machines said its subsidiary Anderon won a US$1b federal award to build a U.S. quantum chip foundry, alongside a further US$1b IBM commitment to the project. The planned facility is described as the first stand-alone quantum wafer foundry in the U.S., focused on quantum chip manufacturing under CHIPS Act funding. IBM also announced a partnership with regulatory intelligence provider CUBE to integrate real time global AI rule monitoring into watsonx.governance. The Anderon quantum foundry award and CUBE tie up together represent a US$2b quantum and governance push by the company.

London stocks closed higher on Thursday, September 17, with the FTSE 100 ending at 10,816.14 points, up 127.67 points, or 1.19%, hitting its highest level in more than a week. The gain came after the Bank of England voted 6 to 3 to keep interest rates at 3.75%, in line with market expectations, and announced it would suspend sales of UK government bonds for six months and halt long-dated bond sales altogether. The move followed a global bond selloff just days earlier that pushed the UK's 30-year borrowing cost to 5.96%, its highest since 1998. BoE Governor Andrew Bailey warned that prolonged conflict in the Middle East could make tighter monetary policy necessary. Data from LSEG showed investors had already priced in at least a 0.25% rate hike from the BoE this year. Rate-sensitive bank shares rose 1.6%, with HSBC and Standard Chartered leading the market with gains of 2% and 2.2% respectively. AstraZeneca rose about 2.4% after Chinese authorities said they would invest nearly 200 million yuan, or 29.81 million dollars, to upgrade its manufacturing base and supply chain in the city of Wuxi. Bytes Technology surged 12% after stronger-than-expected first-half results and an upgrade to its full-year gross profit growth forecast.

Nebius Group has raised prices for its Nvidia GPU and AMD CPU cloud services, citing surging enterprise interest in large-scale AI training and inference workloads. The higher rates apply to both Nvidia GPU instances and AMD CPU based compute bundles across the company's AI focused cloud offerings, with the price change taking effect on October 1. The company said the move reflects strong AI workloads filling its infrastructure and tight supply of high end chips such as Nvidia H100 and B300, and that steeper rates on GPUs and AMD EPYC Genoa CPUs help align customer bills with the cost of scarce compute capacity and large data center buildouts. Nebius Group builds full stack infrastructure for AI developers and enterprises across the US, the UK, and other markets, so the pricing directly shapes what customers pay to train and run models at scale. Investors will watch upcoming quarterly updates for the AI cloud revenue mix and Palantir related usage, since stable or growing GPU utilization at the new rates would show the higher pricing is being absorbed rather than pushing workloads to rival providers.

Paradium.AI has signed a 10-year strategic platform agreement with RTB Digital, which operates as Roundtable, under which Roundtable will provide technology, monetization and operating services supporting Paradium.AI's portfolio of media brands while Paradium.AI retains ownership of its brands, domains, intellectual property and audiences. In a separate private transaction, Roundtable agreed to acquire Paradium.AI common stock from Simplify Inventions, Paradium.AI's largest shareholder, at $3.80 per share, leaving Roundtable with approximately 49.5% of Paradium.AI's outstanding common stock and Simplify with approximately 23.1%. That equity transaction will not involve the issuance of new Paradium.AI shares or result in proceeds to Paradium.AI, and Paradium.AI is not a party to it. Under the platform agreement, Roundtable will assume responsibility for a substantial amount of annual operating functions and costs currently borne by Paradium.AI, including certain product, engineering and monetization functions, will receive a percentage of revenue related to Paradium.AI's media brands hosted on Roundtable's platform, and will receive a worldwide, perpetual license to certain Paradium.AI technology assets, with Paradium.AI retaining ownership of the underlying intellectual property and receiving shares of Roundtable common stock subject to closing price conditions including Nasdaq minimum pricing requirements. The transactions remain subject to conditions precedent, including funding requirements to be satisfied by Roundtable, and are scheduled to close prior to the end of Q4 2026, with no assurance as to when the remaining conditions will be satisfied or the transactions completed.

Uber Technologies Inc. and WeRide, together with AVOMO, have secured Spain's first national permit covering level 4 autonomous passenger vehicles, making Madrid the fourth city in the Uber-WeRide partnership. The permit was issued by Spain's Directorate General of Traffic and allows WeRide to test its GXR vehicles and conduct roadmapping throughout Madrid ahead of a commercial launch planned for year-end, starting with 20 vehicles each supervised by an in-car specialist in high-demand areas of Greater Madrid. The Uber-WeRide partnership plans to reach 15 cities globally by 2030, part of an Uber asset-light AV strategy that spans more than 30 partnerships, with Uber expecting to commit over $10 billion across AV investments, infrastructure, and vehicle offtake over the coming years. That multi-partner bet is under strain: Uber and Waymo confirmed in late June that their Phoenix partnership had ended, Waymo is reportedly considering a broader exit, and the NHTSA is investigating Uber AV partner Avride after multiple crashes, while Tesla ramps up its own Cybercab fleet and Waymo has raised $16 billion to accelerate independent growth. Hedge fund ownership was broadly stable, with holders slipping from 153 at the end of Q1 2026 to 151 at the end of Q2 2026, and short interest stood at only 2.29% of float as of August 31, 2026.

Commvault Systems has enabled its managed service provider partners to deliver FedRAMP High Authorized Commvault Cloud for Government services to U.S. federal agencies and defense contractors, broadening the company's public sector reach. The move lands on a stock with a 7 day share price return of 10.29% and a 90 day share price gain of 11.67%, though its 1 year total shareholder return is down 23.35% while the 3 year total shareholder return is up 111.68%. The most followed valuation narrative puts fair value at $161.15 against a last close of $145.21, implying roughly 10% upside, and rests on analyst expectations of about 10.6% annual revenue growth, profit margins rising toward 9.8%, and an 8.85% discount rate. That story leans on recurring SaaS economics, including 63% SaaS ARR growth, a 45% increase in multi-product customers, and 125% SaaS net dollar retention. A contrasting read notes the stock trades at a P/E of 88.1x versus 30.5x for the wider US Software group and a fair ratio of 38.7x, signaling valuation risk if sentiment cools.

Snowflake Inc. reported second-quarter fiscal 2027 results on September 2, 2026, for the period ended July 31, 2026, with revenue rising 35% to $1.55 billion against a $1.48 billion consensus and adjusted earnings of $0.62 per share versus the $0.45 analysts expected. Product revenue grew 37% to $1.49 billion, and management raised full-year product revenue guidance to $6.07 billion from $5.84 billion, sending shares up more than 20% in extended trading. Within 48 hours, eight firms raised their price targets, including Argus analyst Joseph Bonner to $450 from $300, Goldman Sachs to $436 from $300, JPMorgan to $426 from $285, Raymond James analyst Adam Tindle to $425 from $275, and RBC Capital to $440 from $372, with TD Cowen and Monness Crespi both moving to $450 and Truist to $425. Net revenue retention held at 126%, remaining performance obligations reached $9.00 billion on 30% growth, and the company added 692 net new customers, while CEO Sridhar Ramaswamy said AI products drove roughly half of the acceleration. The stock trades at 166.67 times forward earnings as of September 15, 2026, against Datadog at 76.92 and MongoDB at 62.89, after gaining more than 45% this year, even as the quarter produced a GAAP operating loss of $263.0 million, a negative 17.0% margin, and free cash flow of $83.8 million on a 5.4% margin.

Intapp shares perked up 4% during early post-market trading on Thursday after the company revealed a new partnership with OpenAI. Under the deal, Celeste, Intapp's expert AI coworker, is now a plug-in for ChatGPT Enterprise, bringing a legal firm's proprietary context and methods into the enterprise chatbot. Intapp provides software for highly regulated industries such as law, accounting, and investment banking. The Celeste plug-in for ChatGPT Enterprise is available to eligible Intapp Celeste clients starting today. Thad Jampol, co-founder and chief product officer at Intapp, said the law is the same for every firm, but what a firm knows about its clients, methods, matters, and judgment is its real franchise. Jason Boehmig, OpenAI's general manager of the legal industry, said building alongside Intapp turns that expertise into AI lawyers can use every day.

Intapp announced its Celeste plug-in for ChatGPT Enterprise, bringing its expert AI coworker into the platform lawyers already use. The plug-in lets lawyers working in ChatGPT Enterprise draw on Celeste to capture work as it happens, check it against a firm's outside counsel guidelines, and bill it accurately, as well as source new opportunities and prepare for client meetings on work the firm has already cleared for conflicts. Access is governed by the firm's ethical walls, confidentiality obligations, and need-to-know rules, so a lawyer reaches only what the firm has entitled them to reach. The plug-in is available to eligible Intapp Celeste clients beginning today. Intapp Co-founder and Chief Product Officer Thad Jampol said being available in ChatGPT Enterprise means firms now run inside the models lawyers are already using, while OpenAI Legal Industry General Manager Jason Boehmig said building alongside Intapp turns each firm's expertise into AI lawyers can use every day.

IBM secured a finalized $1 billion award from the Commerce Department for its Anderon subsidiary, which is now operating a 300-millimeter quantum-wafer foundry in Albany, New York. IBM is committing another $1 billion of its own capital to the project, bringing newly disclosed commitments to $2 billion, with the federal government covering half of that total. Initial wafers have already entered production at the facility, which is designed to manufacture technology for superconducting qubits, input-output signaling and readout components, with additional quantum architectures expected to follow. The funding split reduces how much IBM must fund itself while potentially turning Anderon into manufacturing infrastructure for outside quantum-chip designers. IBM shares gained approximately 0.2% to $237.87 Thursday morning, about 2% below the $242.72 GF Value estimate, though IBM has not yet disclosed customers, purchase commitments, wafer volumes or expected Anderon revenue.

Oracle expanded its fiscal-2026 restructuring plan to roughly $2.8 billion as the company pours more capital into AI infrastructure, Reuters reported. The shares rallied about 5.4% to $150.90 Thursday morning, based on the latest market snapshot, versus the earlier $148.83 quote. That $2.8 billion restructuring bill works out to roughly 14.5% of Oracle's latest $19.35 billion in quarterly revenue and covers severance, contract exits and other restructuring costs, while free cash flow is running at approximately negative $5.4 billion. Remaining performance obligations have climbed to $664 billion after Oracle signed more than $30 billion of additional AI-cloud contracts, with roughly half of that backlog expected to turn into revenue within 36 months. Management says customer prepayments and customer-supplied chips can soften the capital burden, but the real test is execution.