Hardware firms are cleaning up bigtime as enterprises and cloud providers can’t get enough computing power for their artificial intelligence dreams.
Dell Technology’s stock closed Friday up an incredible 33%. That’s thanks to an 88% jump in revenue almost unheard-of for a established company of this size, thanks to all the AI servers it’s selling. NetApp got a similar if more muted benefit for the same reason, and so did HP‘s PC sales. This week both Micron and SK hynix also saw their market caps pass $1 trillion thanks to all the memory chips lodged in those AI servers.
Even software-as-a-service companies are faring well considering investors still worry about AI agents eating their lunch, by embracing AI themselves. The marquee story here is Snowflake, whose stock jumped 36% Thursday thanks to strong earnings and another big deal to buy compute from Amazon Web Services, signaling confidence in its future as a prime data nexus for the AI era. MongoDB, Salesforce, UiPath and others also seemed to counter fears of a SaaSpocalypse, though some of them still gave investors pause given muted forecasts.
Meantime, Anthropic just keeps rising, putting the lie to the notion that OpenAI’s early lead was too big to beat. This week it not only raised $65 billion in new funding — at a valuation of $965 billion, more than OpenAI — but also released another new model, Claude Opus 4.8, that’s a lot better at coding.
Pope Leo is not enamored of AI, at least as our tech overlords are pushing it. His first encyclical, released this week, raises many of the same concerns about AI risks concerns many have raised, but … it’s the Pope saying it, so it’s doubly worth paying attention to. I’m not sure it’s going to stop the headlong rush to AI-ify everything. But companies suddenly realizing how much AI is costing them might.
Next week are some big events, including Snowflake Summit, Microsoft Build and Computex, sure to keep our writers busy writing and you busy reading. On the earnings front, there’s still a lot of enterprise tech firms to weigh in, including HPE, Palo Alto Networks, CrowdStrike and Broadcom.
Here’s all of this week’s enterprise and emerging tech news from SiliconANGLE, theCUBE and beyond:
Pope Leo XIV highlights AI risks in first encyclical
US law enforcement warns of ‘anti-tech extremism’ as AI hatred grows (per Wired)
Suddenly enterprises noticed AI costs a lot: AI sticker shock hits corporate America (per Axios) and Corporate America is starting to ration AI as cost skyrockets (per the Wall Street Journal)
The inverted geometry: Tracking the enterprise shift at Dell Technologies World 2026
From resilience to survivability: How AI forces a rethink of business continuity
Zoom’s most recent quarter highlights its transition to a system-of-action company
As Anthropic launches Claude Opus 4.8, it raises $65B in new funding
Vibe coding startup Cognition more than doubles valuation in new $1B+ round
OpenRouter raises $113M to bring order to enterprise AI inference routing
AI video analysis startup Airis Labs raises $60M
Reactor raises $59M to build platform for real-time AI worlds
Ex-DeepMind researchers raise $50M for AI science startup Inherent
Pace, an AI operations partner for insurers, raises $46M Series B round
Utilidata raises $40M more to optimize data center power use
Saris raises $28.8M to scale agentic workflow automation for financial institutions
Trajectory raises $15M seed round to build AI’s missing feedback loop (per Wired)
AI training data provider Human Archive raises $8.2M
Didit raises $6M funding to build AI-native identity infrastructure
Modiqo raises $3M in pre-seed funding to help AI agents learn by Rote
AWS launches Agentic Shopping Assistant to help retailers build AI tools
Robinhood opens its platform to AI agents for trading and credit card spending
Chrome Enterprise rolls out AI agents and automation to streamline security management
Starburst bets on semantic context to solve enterprise AI trust problem
CoreWeave introduces autonomous improvement capabilities for AI agents
IBM expands digital sovereignty push with new cloud compliance and visibility platform
Writer helps solve brand consistency for enterprise marketing at scale
WisdomAI brings plug-and-play conversational AI analytics capabilities to SaaS applications
CNN sues Perplexity alleging ‘massive’ copyright infringement
AI server demand drives staggering revenue growth for Dell and its stock soars
Snowflake’s stock surges after-hours on solid earnings beat and multibillion-dollar AWS cloud deal
Salesforce crushes Wall Street’s targets in its latest results but can’t boost its struggling stock
Nutanix’s stock inches up on solid earnings and revenue beat and growing customer acquisitions
HP beats on Q2 earnings and revenue as commercial PC demand rebounds
Everpure beats on revenue and earnings but free cash flow drop sends shares lower
Marvell, Synopsys close lower despite forecast-topping earnings buoyed by AI
Box barely beats the Street’s expectations and nervous investors back away
Zscaler tops estimates and lifts guidance, but free cash flow cut sends shares lower
Agentic AI success helps UiPath swing to a profit, but investors weren’t impressed
Okta tops estimates and raises outlook as SentinelOne slides on weak guidance
MongoDB posts stellar earnings and revenue beat as software rebound accelerates
Pagerduty stock rises 16% as earnings beat by 7 cents, revenue tops estimates
Elastic shares tumble nearly 9% on weaker-than-expected Q1 earnings guidance
Micron and SK Hynix surpass $1 trillion valuation milestone on surging AI memory demand
Dell wins $9.7B Pentagon software deal after cozying up to Trump
Mark Zuckerberg says a Meta cloud computing business ‘definitely on the table’
Amazon will acquire Apple’s 20% stake in satellite firm Globalstar
Autodesk to acquire MaintainX for $3.6 billion in push into operations
Asana acquires StackAI to run AI agent workflows across enterprise systems
Logistics startup Stord raises $250M at $3B valuation amid rapid sales growth
XCENA raises $135M for its computational memory controller
Insurance tech firm Corgi announces $106M raise at $2.6B valuation
Tensormesh taps Nvidia, AMD and CoreWeave for funding to fix AI model memory problems
AWS details new RNG data center network design that boosts throughput and reliability
Broadcom debuts new Wi-Fi 8 chips, optical network processor
Rambus targets agentic AI workloads with faster client memory chipset
China’s Huawei unveils new sanctions-busting chip architecture that replaces Moore’s Law
EU reportedly plans to fine Google over search practices
IBM, Red Hat launch $5B Project Lightwell to boost open-source security And check out Dave Vellante’s Special Breaking Analysis: IBM and Red Hat’s Project Lightwell: Securing open source in the age of frontier AI
Aztec Labs acquires ZKPassport maker Obsidion as age verification pressure mounts
RevEng.AI raises $15M to reverse-engineer software binaries and hunt down malicious threats
MokN raises $15M for phish-back platform
CSC report finds FIFA-themed domain registrations surging as scammers position for 2026 World Cup
Cisco report finds no closed frontier AI model is safe from multi-turn attacks
Orchid Security targets AI agent sprawl with new identity governance tools
Xage extends zero trust to autonomous AI agents across cloud, SaaS and edge
Novee debuts Agentic Fix, pushing pentest findings into Claude, Copilot and Cursor
AppOmni launches Marlin AI to automate SaaS security investigation and remediation
Detectify debuts MCP server to let AI agents find and fix vulnerabilities in real time
Doppel launches agentic email security to disrupt phishing campaigns at the source
XM Cyber rolls out tools to identify and revoke unused permissions across hybrid environments
7AI launches PLAID ELITE fully managed agentic security operations service
Blue Origin’s New Glenn rocket explodes on launchpad during test
Trapped-ion quantum computer startup Quantinuum files to go public
IBM to invest $10B in quantum computing over five years
Dropbox CEO Drew Houston will step down after 19 years, remaining executive chairman as product chief Ashraf Alkarmi becomes co-CEO and eventually sole CEO.
OpenAI hired ServiceNow Chief Marketing Officer Colin Fleming to lead business marketing push.
Cybersecurity firm SonicWall appointed Jonathan Berger SVP of global channels and alliances.
Wholesale data center developer EdgeCore Digital Infrastructure hired former VHC Health and Vantage Data Centers Chief Information Security Officer Greg Thompson to lead its newly established enterprise security function as SVP of enterprise security.
Ctera Networks named Tal Sarfaty, former SVP and head of cyber security innovation at Citi, its new SVP of cybersecurity.
Wix is laying off 20% of its workforce, CEO cites AI and exchange rates.
June 1-4: Snowflake Summit, San Francisco: SiliconANGLE will be onsite with news and analysis, and theCUBE will be onsite with interviews and analysis June 2-3. *
June 2-3: Microsoft Build, San Francisco and online. SiliconANGLE will have news and analysis.
June 2-5: Computex, Taipei. Nvidia CEO Jensen Huang opens with a keynote June 1.
June 8-12: Apple WWDC, Cupertino and online. SiliconANGLE will have the news.
June 15-18: Databricks’ Data + AI Summit, San Francisco: SiliconANGLE will be onsite with news and analysis.
* Sponsored event
Monday, June 1: HPE
Tuesday, June 2: Palo Alto Networks, GitLab
Wednesday June 3: CrowdStrike, Broadcom, C3 AI
Thursday, June 4: Rubrik, Docusign, Domo, Samsara
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