Consumer Tech (Aug 3-7): SpaceX Released Strong First Earnings, Meta Sued For Harming Children's Mental Health & More

President Donald Trump said on Friday that data centers could eventually become a bigger industry than oil, calling them significant for the U.S. economy.

President Donald Trump‘s former Counterterrorism Chief Joe Kent has reaffirmed his stance that the U.S. should exit the Strait of Hormuz and claim victory in the Iran war.

New York City Mayor Zohran Kwame Mamdani has launched a crackdown on online retailers selling allegedly illegal high-speed e-bikes and e-scooters, targeting major platforms including Walmart Inc. (NASDAQ:WMT), Target Corp. (NYSE:TGT), Wayfair Inc. (NYSE:W), Temu parent PDD Holdings Inc (NASDAQ:PDD) and Amazon.com, Inc. (NASDAQ:AMZN) over public safety concerns.

Software, Technology & Semiconductors

• Applied Optoelectronics Inc. (NASDAQ:AAOI) stock surged in premarket trading Friday after the company reported second-quarter results that topped Wall Street estimates, issued strong third-quarter guidance and said demand for its AI networking products is expected to outpace production capacity through mid-2027.
• Meta Platforms, Inc. (NASDAQ:META) was ordered to pay $567 million and implement sweeping changes to Facebook and Instagram for young users after a New Mexico judge ruled the company contributed to harming children’s mental health and safety.
• Meta has joined OpenAI and Anthropic in facing fresh AI safety concerns after one of its models gained unintended internet access during cybersecurity testing and exploited a security vulnerability involving another company.
• Cloudflare, Inc. (NYSE:NET) reported quarterly earnings of 29 cents per share, which beat the consensus estimate of 27 cents by 7.41%, according to Benzinga Pro data. Quarterly revenue came in at $696.06 million, which beat the Street estimate of $665.5 million.
• Atlassian Corporation (NASDAQ:TEAM) reported fourth-quarter revenue of $1.766 billion, up 28% year-over-year. The revenue total beat a Street consensus estimate of $1.660 billion according to data from Benzinga Pro.
• Rigetti Computing, Inc. (NASDAQ:RGTI) reported quarterly losses of five cents per share, in line with the analyst consensus estimate, according to Benzinga Pro data. Revenue came in at $5.1 million, which missed the Street estimate of $5.15 million.
• The Trade Desk, Inc. (NASDAQ:TTD) reported quarterly earnings of 34 cents per share, which missed the consensus estimate of 40 cents by 15%, according to Benzinga Pro data. Revenue came in at $715.06 million, which missed the Street estimate of $751.39 million.
• Western Digital Corporation (NASDAQ:WDC) reported adjusted earnings more than doubled to $3.56 per share from a year earlier, topping the analyst consensus estimate of $3.29. Revenue increased 44% year over year to $3.75 billion, ahead of the consensus estimate of $3.69 billion.
• SanDisk Corp. (NASDAQ:SNDK) posted a fourth-quarter earnings beat on Wednesday, but investors remained unconvinced as cautious guidance and questions over how long the memory boom can last sent the stock sharply lower in after-hours trading. The company expects PC and smartphone shipments to decline sharply in 2026, but CEO David Goeckeler said rising storage capacity and market stabilization next year could support renewed NAND demand.
• Fastly Inc. (NASDAQ:FSLY) posted its second-quarter results after Wednesday’s closing bell. Shares fell despite the company’s strong results and raised fiscal guidance.
• Figma, Inc. (NYSE:FIG) reported second-quarter revenue of $370.08 million, beating estimates of $351.56 million, per Benzinga Pro. The collaborative web-based software company reported adjusted earnings of eight cents per share, beating estimates of four cents per share.
• SoundHound AI, Inc. (NASDAQ:SOUN) reported second-quarter revenue of $61.90 million, beating the consensus estimate of $52.39 million. The conversational AI company reported an adjusted loss of two cents per share for the quarter, beating estimates for a loss of six cents per share, according to Benzinga Pro.
• IonQ, Inc. (NYSE:IONQ) turned in second-quarter revenue of $80.05 million, beating analyst estimates of $49.74 million. The quantum computing company posted a second-quarter adjusted loss of 33 cents per share, beating estimates for a loss of 35 cents per share, according to Benzinga Pro.
• Applovin Corporation (NASDAQ:APP) reported second-quarter revenue of $1.924 billion, missing analyst estimates of $1.935 billion, according to Benzinga Pro. The advertising technology company reported earnings of $3.76 per share for the quarter, beating estimates of $3.67 per share.
• GlobalFoundries Inc. (NASDAQ:GFS) stock declined Wednesday after the contract chipmaker reported better-than-expected fiscal second-quarter 2026 results, but a third-quarter outlook largely in line with Wall Street expectations failed to impress investors.
• Palantir Technologies Inc (NASDAQ:PLTR) stock gained in early trading on Wednesday, but turned red in the trading session. The volatile move comes after reporting upbeat second-quarter financial results on Monday.
• Advanced Micro Devices, Inc. (NASDAQ:AMD) said stronger-than-expected demand has tightened the server CPU supply chain, but CEO Lisa Su expects conditions to improve in 2027.
• Astera Labs Inc. (NASDAQ:ALAB) posted its second-quarter results after Tuesday’s closing bell, beating analyst estimates on the top and bottom lines. 
• Aehr Test Systems (NASDAQ:AEHR) shares jumped on Tuesday after the company secured a follow-on FOX-XP production order from its lead silicon photonics customer.

Networks, Media & Broadline Retail

• T-Mobile US Inc. (NASDAQ:TMUS) CEO Srini Gopalan dismissed the threat from Elon Musk’s planned Starlink Mobile service as “exaggerated,” questioning why consumers would leave established carriers even as SpaceX (NASDAQ:SPCX) promises higher bandwidth, satellite coverage and a terrestrial network aimed at winning customers from T-Mobile, AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ).
• Alibaba Group Holding Limited (NYSE:BABA) is reportedly preparing to introduce a revenue-sharing model for large commercial users of its upcoming open-source Qwen AI model.
• Warner Bros. Discovery Inc. (NASDAQ:WBD) executives on Thursday said the streaming bundle with The Walt Disney Co. (NYSE:DIS) is generating measurable benefits, helping reduce customer cancellations.
• The Walt Disney plans to evolve Disney+ from a video platform into an integrated fan ecosystem combining games, merchandise, and interactive experiences by spring 2027, as Chief Executive Officer Josh D’Amaro declared that the entertainment giant is "just playing a different game" compared to streaming rivals.
• The Walt Disney is cashing out of A+E Global Media, agreeing to sell its 50% stake to media conglomerate Hearst for approximately $1.2 billion in cash as investors continue to debate Disney’s long-term media strategy
• SurgePays, Inc. (NASDAQ:SURG) announced of the formation of Redline Wireless Group, LLC, a Wyoming-based joint venture targeting prepaid wireless distribution.
• Shopify Inc. (NASDAQ:SHOP) stock rose Wednesday after the e-commerce software company reported second-quarter fiscal 2026 results that beat Wall Street expectations and issued third-quarter revenue guidance above estimates.
• Spotify Technology SA (NYSE:SPOT) stated that agreements with every major music label weren’t required before launching its AI music service.
• Spotify expects monthly active user growth to slow in the third quarter as it adjusts its free-tier strategy in emerging markets, prioritizing long-term monetization and subscriber conversion over rapid user expansion.

Airlines, Automobiles & Spacecrafts

• The Federal Aviation Administration (FAA) has issued an Airworthiness Directive after it identified cracks in the fuselage of some Boeing Co. (NYSE:BA) 737 family aircraft.
• Serve Robotics Inc. (NASDAQ:SERV) reported quarterly losses of 59 cents per share, which beat the consensus estimate for losses of 68 cents, according to Benzinga Pro data. Revenue came in at $3.28 million, which missed the Street estimate of $3.49 million.
• Tesla Inc. (NASDAQ:TSLA) has started building Megapack 3 batteries at its new Brookshire, Texas, Megafactory, adding major production capacity as energy storage grows into a more profitable counterweight to the company’s electric-vehicle business.
• Joby Aviation, Inc. (NYSE:JOBY) reported quarterly losses of 25 cents per share, which missed the consensus estimate for losses of 23 cents, according to Benzinga Pro data. Revenue clocked in at $38.64 million, which beat the analyst consensus estimate of $30.38 million by 27.18% and was up from revenue of only $15,000 in the same period last year.
• Space Exploration Technologies reported stronger-than-expected first quarterly financial results as a public company, prompting CEO Elon Musk to mock short sellers after bearish bets against the stock climbed to about one-third of its public float ahead of the earnings.
• SpaceX just landed a contract worth more than its entire rocket business pulled in over six months — a stark reminder of how small the space segment still is next to Starlink and the company’s AI ambitions.
• Uber Technologies, Inc. (NYSE:UBER) moved a step closer to launching autonomous ride-hailing services in London.
• Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Waymo co-CEO Dmitri Dolgov warns physical-AI developers against applying Silicon Valley’s break-things culture to autonomous cars and robots, where errors can cause irreversible harm.

Bitcoin & AI

• Datadog, Inc. (NASDAQ:DDOG) delivered a robust second quarter with $1.12 billion in revenue and adjusted earnings of $0.65 per share, clearing Wall Street estimates. However, the company’s third quarter guidance implied a deceleration to roughly 29% year-over-year revenue growth.
• ByteDance is reportedly developing a new AI model that may rival the scale of Anthropic’s advanced Mythos system, in a bid to close the gap with leading U.S. AI companies.
• Sharon AI Holdings Inc (NASDAQ:SHAZ) reported a sharply widened second-quarter net loss, despite posting strong top-line growth and expanding its infrastructure platform.
• OpenAI on Wednesday asked a U.S. judge to dismiss Apple Inc.‘s (NASDAQ:AAPL) lawsuit accusing the ChatGPT maker and two former Apple employees of stealing trade secrets to fuel its consumer hardware ambitions
• Apple has asked a U.S. judge to issue a preliminary injunction preventing two former employees and OpenAI from accessing, using, or disclosing alleged confidential information while its trade secrets lawsuit proceed.