Tech

Hadrian, a manufacturing startup focused on defense and aerospace, has secured nearly $8 billion in valuation, more than quadrupling its January figure. Co-led by Baillie Gifford and J.P. Morgan Strategic Investment Group, the funding will fuel investments in workforce, its Opus software platform, and address national production challenges in areas like submarines and munitions. This surge reflects a broader boom in defense tech, with Hadrian positioned to modernize manufacturing through physical AI.

Microsoft is prioritizing OpenAI’s advanced models for internal AI development to boost efficiency and maximize token investment. This strategic shift reflects an industry-wide focus on cost consciousness amidst massive AI expenditures. The company is directing developers to use GPT-5.6 Sol for coding tasks, a move that balances innovation with fiscal responsibility in the evolving AI landscape.

Meta launches Muse Code, its first AI coding agent, to compete with Anthropic and OpenAI. Led by AI Chief Alexandr Wang, it handles full software engineering tasks, from planning to validation. Muse Code works with Muse Spark 1.2 and offers cost-effective pricing, including a significantly cheaper “contributor tier” for model improvement. Zero-data retention options are available for enterprises.

Etsy is laying off approximately 220 employees, 12% of its workforce, to streamline operations and accelerate innovation. The move aims to simplify structure and enhance focus on growth, not primarily cost-saving. While facing e-commerce competition, Etsy’s strategic adjustments are showing positive results, with sales exceeding expectations and improved profitability from continuing operations. The company is also divesting brands to concentrate on its core marketplace.

Salesforce appointed Miguel Milano as Chief Operating Officer in a significant leadership reshuffle. Milano, previously Chief Revenue Officer, brings extensive experience to the newly created role. The changes coincide with Salesforce’s focus on AI integration and navigating market pressures, including a recent stock dip. The reorganization also sees Srini Tallapragada transition to an advisor role, Rohan Kumar expand engineering oversight, and Alexa Vignone become Chief Revenue Officer.

SpaceX significantly increased its investment in Tesla Megapack battery energy storage systems in the first half of 2026, spending $329 million to power its “Colossus” data centers. This move supports SpaceX’s aggressive AI infrastructure expansion and aims to secure substantial power and cooling capabilities. The company plans to have 20 gigawatts of AI power and cooling online by the end of next year. This investment comes amidst community backlash over SpaceX’s use of natural gas turbines at its data centers.

Jim Cramer advises investors to view Elon Musk’s SpaceX through a generational lens, not a quarterly one. He likens it to long-term railroad bonds, emphasizing Musk’s transformative vision and the company’s future growth drivers like Starship, Starlink, and its compute infrastructure. Cramer believes SpaceX’s long-term value, though decades away, hinges on Musk’s leadership and ability to secure capital for ambitious projects.

The AI sector is not a winner-take-all market. Despite individual company successes or setbacks, the overall demand for AI hardware, including CPUs and GPUs, is projected to be massive. Investors should avoid a narrow focus and recognize the potential for multiple companies to profit from the AI revolution.

Saudi Arabia’s Public Investment Fund, with support from Silver Lake and Affinity Partners, has completed its $55 billion acquisition of Electronic Arts (EA). This deal, which sees EA shares delisted from Nasdaq, signifies a major Saudi investment in gaming. Analysts express concern over EA’s substantial debt, acquired as part of the leveraged buyout, predicting a focus on established franchises and potential layoffs or studio closures to manage financial obligations.

Stock futures point higher, with major indexes poised to extend their record streak. SpaceX reported strong revenue but significant capital expenditures caused an 11% stock drop, despite a narrower than expected net loss. Disney’s shares rose on better-than-expected earnings, driven by parks, cruises, and streaming growth. Procter & Gamble acquired Thorne for $3.8 billion to bolster its health and wellness segment. Chipotle temporarily removed jalapeños due to salmonella concerns, impacting its stock. Palantir’s stock surged 29% following its earnings report, fueled by AI momentum.