Keep pulling the thread on Bloomberg Tech.
Microsoft, Meta, Google, and Amazon are all scheduled to report earnings after the market closes on the same day.
Elon Musk is suing OpenAI and its co-founders, Sam Altman and Greg Brockman, over the startup's pivot from a non-profit to a for-profit business.
There is a geopolitical standstill between the U.S. and Iran in the Strait of Hormuz.
Options market data indicates that approximately $750 billion in combined market value for major tech companies is at stake based on their upcoming earnings reports.
The blockade in the Strait of Hormuz has escalated to become fully structural, significantly restricting passage.
Microsoft is reportedly unable to keep up with the high demand for its Azure cloud services and compute capacity.
Analysts anticipate that Microsoft, Meta, Alphabet, and Amazon will collectively spend almost $650 billion on capital expenditures in fiscal year 2026.
Amazon CEO Andy Jassy has expressed concern about the availability of power as a potential constraint for AI infrastructure expansion.
SoFi reported over $1 billion in quarterly revenue, with year-over-year revenue growth accelerating to 41%.
SoFi did not raise its full-year guidance because its initial forecast assumed at least two interest rate cuts, but the company now expects no rate cuts for the year.
SoFi is forecasting it will reach $5 billion in annual revenue in 2026.
The startup Rogo, which creates AI tools to automate tasks for junior bankers, has reached a valuation of $2 billion.