Duolingo Rallies as Evercore Doubles Target to $210
Evercore ISI upgraded Duolingo (DUOL) to Outperform with a $210 target, citing durable growth as ChatGPT fears fade. Chegg tells the opposite story.
Artificial Intelligence
Market-focused coverage of artificial intelligence companies, infrastructure spending, business models, and adoption. We examine the filings, financial metrics, and competitive forces behind the headlines.
Anthropic IPO Update: MS, Goldman Lead; October Launch Eyed
Anthropic taps Morgan Stanley and Goldman Sachs to lead its IPO. Filing now targeting late September, with an October launch and a $15B pre-IPO credit line.
AI Power Trade: Vertiv, GE Vernova, Eaton Lead 2026 Rally
Vertiv +66%, GE Vernova +44%, Flex +79% YTD. The AI data-center power basket keeps crushing the S&P 500 as capex forecasts climb and M&A heats up.
Broadcom Q3 FY26: AI Revenue $16.7B, Q4 Guide $34.8B
Broadcom posted $29.6B in Q3 FY26 revenue (+86% YoY) with AI semi sales of $16.7B (+221%). Q4 guide $34.8B; AVGO fell after hours.
Snowflake Q2 FY27: Revenue +35%, RPO $9B, Guide Raised
Snowflake beat Q2 FY27 with $1.49B product revenue up 37%, $9B RPO, 126% NRR. CEO Ramaswamy cites AI flywheel as full-year guide is lifted to $6.07B.
Uber Cuts 3,300 Jobs to Fund Autonomous Vehicle Push
Uber is cutting roughly 10% of its global workforce and tightening return-to-office rules to redirect $580M in savings toward its self-driving bet.
GitLab Q2 FY27: Revenue $286M, +21%, Guide Raised
GitLab beat Q2 FY27 with $286.3M revenue up 21%, DBNR of 117%, and raised full-year guidance. GTLB traded up 22% pre-market on the print.
Dell Q2 FY27: $47B Revenue, $95B AI Backlog, Guide Raised
Dell posted record $47.0B revenue (+58%), $16.4B AI server revenue and $95B backlog, then raised FY27 to $192B. What the print actually shows.
Texas Halts Data-Center Power on 474 GW ‘Ghost Demand’
Texas paused new data-center hookups after interconnection requests hit 474 GW — nearly 10x the state’s 2023 total — forcing a reckoning with ‘ghost demand.’
Blue Owl Leads $2.4B AI Factory Financing for IREN
Blue Owl-managed funds are anchoring a $2.4B loan for IREN’s AI compute buildout — the latest private-credit push into GPU-backed data-center debt.