Micron Technology reported fiscal 2026 third-quarter revenue of $41.46 billion, up 345.7% year over year, and non-GAAP EPS of $25.11, both well above market expectations. The company lifted its fiscal Q4 outlook to about $50 billion in revenue and roughly 86% gross margin. It also cited roughly $100 billion in cumulative minimum-price commitments in long-term orders, signaling a worsening HBM shortage. Despite the strong results and outlook, the stock fell 4.9% on the day.

Alibaba’s June-quarter revenue rose 9% year on year to about 269 billion yuan, while net income fell 75% to 10.5 billion yuan. Capital spending jumped 75% to 67.68 billion yuan, largely tied to GPU purchases, and free cash flow widened to a 44.7 billion yuan outflow from a 18.8 billion yuan outflow a year earlier. The company plans to sell $10.2 billion of stock to fund AI investment, while buybacks shrank 92% year on year to $956 million.

Micron Technology reported fiscal 2026 third-quarter revenue of $41.46 billion, up 345.72% year over year, and non-GAAP EPS of $25.11, marking a seventh straight quarterly beat. Free cash flow for the quarter reached $18.30 billion, and HBM4 shipment revenue has already exceeded $1 billion. For the fourth quarter, the company guided to $50 billion in revenue, $31 in non-GAAP EPS and gross margin of roughly 86%. Wall Street’s average price target is $1,501.98, and none of 45 analysts rate the stock a sell.

Off-balance-sheet obligations at nine tech companies including Microsoft, Amazon, Alphabet, Meta, Oracle, Nvidia, Broadcom, AMD and SpaceX are nearing $3 trillion, according to a Wall Street Journal analysis. The estimate is sharply higher than Nikkei’s July calculation of $1.65 trillion for five of those firms. The obligations largely reflect future spending commitments tied to data centers, chips and power that are not recorded as debt on balance sheets.

Cerebras Systems fell 13% to $220, while Intel slid 7% and AMD dropped 5%. About 36.4 million Cerebras shares became eligible for sale around August 14, adding a lockup-style overhang. The company previously raised FY2026 core revenue guidance to $880 million to $890 million and said Q2 core revenue more than doubled to $210 million. Anthropic told investors its ARR reached $65 billion at the end of July, and Reuters reported it is guiding investors to $190 billion to $200 billion of 2028 revenue.

Nike shares fell another 3% on Monday, hitting a fresh 52-week low. Weak performance in Greater China outweighed signs of a rebound in wholesale, with the region’s revenue down 11% year on year as reported. Digital direct sales in the region dropped 29% and EBIT fell 20%, while the stock is down 35% year to date and 45% over the past year.

Billionaire David Tepper’s Appaloosa Management reduced its Micron Technology stake by 690,000 shares in Q2 2026 and sold its entire 281,250-share position in SanDisk. The hedge fund also increased its Amazon holding by 680,000 shares. That brought Appaloosa’s Amazon position to 5,000,000 shares, making it the firm’s largest disclosed holding.

Leopold Aschenbrenner’s AI hedge fund, Situational Awareness, suffered a rapid drawdown after leveraged long bets on AI infrastructure stocks triggered margin calls during a late-July market pullback. The fund fell from a $45 billion peak in early July to about $10 billion by late July, a loss of roughly $35 billion in investor capital over about two weeks. Positions were concentrated in Nebius, SanDisk, CoreWeave and Korea-listed SK Hynix, with a short position in Adobe; Nebius fell 17.98% from July 1 to Aug 7. Despite the losses, Silicon Valley insiders have signaled interest in providing new capital, and the fund still holds private stakes including Anthropic, Fluidstack and MatX.

FuelCell Energy said it has signed a strategic agreement with Fit Energy for up to 380 MW of clean, baseload onsite power for data centers, including an immediate order for 30 MW with warrants tied to delivery milestones, with deliveries expected to start in late 2026. The company is also moving ahead with an expansion of its Connecticut plant to 500 MW of annual capacity and said about 90% of its roughly 4 GW commercial pipeline is tied to data centers. The news helped push FuelCell Energy shares up 24% in the session, while Bloom Energy fell 14% amid rotation and profit-taking.