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Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.
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Astera Labs (ALAB) has expanded its Leo Smart Memory Controller portfolio with new X-Series and Leo 2 E/P Series products targeting agentic AI and cloud workloads. The company reported record Q2 2026 revenue growth and expects Q3 revenues between $540-560 million, representing ~40% sequential growth. ALAB faces competition from Marvell Technology and Credo Technology in the AI connectivity space.
Grab Holdings has agreed to acquire a 60% stake in Atome Financial for $1.49 billion, with completion expected by Q3 2027. The deal will merge Atome's consumer lending business (BNPL, cash loans, digital lending) with Grab's Financial Services segment, providing access to 25 million users across five Southeast Asian markets. The combined entity is projected to achieve over $6 billion in gross loan portfolio and $500 million in adjusted EBITDA by 2028. Grab also has an option to purchase the remaining 40% stake approximately two years after Phase 1 closing.
Credo Technology Group launched its new 224G ZeroFlap optical transceivers supporting 1.6T port speeds for AI architectures. The products integrate DSPs with silicon photonics PICs to reduce insertion loss and improve link margin. Credo expects optical revenue above $600 million in fiscal 2027 with over 85% full-year revenue growth, though it faces intense competition from Marvell Technology and Astera Labs in the high-speed optical networking market.
Gabelli Funds PM Hendi Susanto says AI infrastructure demand remains strong despite slowdown calls, with supply tight through 2027.
Coherent Corp (COHR) has experienced a 24% monthly decline after a 155% annual surge. Despite premium valuation, the company's AI-focused portfolio, strong datacenter revenue growth (58.6% YoY), expanding margins, and capacity expansion plans support a positive long-term outlook. The stock is rated a Buy, though risks include hyperscaler spending cycles and customer concentration.