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Nvidia (NVDA) investors were more or less expecting another clean step forward in the AI upgrade cycle.Rubin was expected to continue pushing the roadmap ahead, customers would keep chasing capacity, and rivals would remain stuck trying to close an insurmountable lead.That confidence, though, has a new wrinkle.A reported delay linked to Nvidia’s next high-end rack system underscores that the tech behemoth’s biggest challenge might not be demand, but the physical complexity of scaling AI hardware. Moreover, the news comes at a point when Nvidia’s stock has been losing momentum, according to Seeking Alpha data, with shares down 0.46% over the past week and 12.56% over the past month. That compares with the S&P 500’s 1.70% gain over the past week and 1.67% decline over the past month, though Nvidia remains slightly positive over 6 months and year to date.Despite Nvidia still dominating the AI space, the next phase of that dominance might depend on parts of the system investors typically overlook.For its rivals like AMD (AMD) and Google (GOOGL) do not need Nvidia to stumble badly. They only need time.

Nvidia’s reported AI rack delay could give AMD and Google an openingAnnabelle Chih/Bloomberg via Getty Images

Nvidia’s reported delay is bigger than a product slip It seems Nvidia’s next big AI roadmap test is no longer just about how fast its chips can run.More Nvidia:Nvidia’s workplace culture sends Big Tech a warningNvidia’s $25B bond deal sends investors a clear signalBank of America resets Nvidia stock forecast after CFO meetingAccording to a report from TheFly, citing SemiAnalysis, Nvidia’s Kyber NVL144 rack architecture has reportedly been delayed by more than 12 months, pushing the system toward 2028. The setback comes only months after CEO Jensen Huang showcased Kyber at GTC as part of Nvidia’s next wave of AI infrastructure.What complicates things is that the point I mentioned earlier comes at a time when the AI trade is being heavily questioned by some of the market’s finest, with Nvidia stock under pressure as chip stocks sell off. Kyber is not a stand-alone GPU launch.It is designed around Nvidia’s Rubin Ultraroadmap and is meant to scale AI compute at the rack level, where hundreds of chips, switches, and interconnects behave like one larger system.So the delay is a lot more significant than a typical product slip-up.Nvidia has already moved beyond selling individual accelerators. The bigger ambition for it is to sell full AI factory systems to cloud giants and hyperscalers, racing to train and run larger models. A delay in the rack architecture takes a cut at the company’s next major growth engine, which is why its rivals may finally see an opening.Wall Street price targets for Nvidia stockBaird: $500. Baird raised Nvidia’s target to a Street-high $500 from $300 due to AI infrastructure growth, inference share gains, and faster Vera Rubin adoption.Bank of America: $350. BofA reiterated a Buy rating and $350 target, arguing Nvidia is becoming broader than GPUs as CPUs, AI systems, networking, and software lift its content per AI factory.Cantor Fitzgerald: $350. Cantor raised its Nvidia target to $350 from $300, keeping an Overweight rating as it pointed to strong AI demand, data-centre spending, and Blackwell backlog visibility.Morgan Stanley: $288. Morgan Stanley reiterated an Overweight rating and $288 target, keeping Nvidia as a top pick in processors and calling it one of the best value names in the group.JPMorgan: $280. JPMorgan raised its Nvidia target to $280 from $265, with analyst Harlan Sur keeping an Overweight rating after Nvidia’s strong Q1 FY2027 earnings.
Sources: Investing.com; TheStreet; GuruFocus/TradingView.
AMD and Google get a rare opening Nvidia’s reported Kyber setback gives its rivals time to work things out in the AI hardware race.According to the SemiAnalysis note, Nvidia currently lacks a proven solution to scale the Oberon Rubin Ultra domain, creating a potential opening for AMD’s MI500X and Google’s TPUv8i broadly to challenge Rubin Ultra on scalability.For perspective, AMD has been trying to turn its Instinct roadmap into a more credible alternative for hyperscalers that do not want to depend entirely on Nvidia. A delay at Nvidia’s end gives it more room to pitch customers on performance, supply availability and total cost.On the flipside, Google’s opportunity is different.Its TPU platform is already deeply tied to its own AI infrastructure, and Google Cloud can use that in-house design in competing for customers looking beyond GPUs. Additionally, if Nvidia’s system-level roadmap slows up, Google gets more time to prove its custom silicon can scale efficiently for larger AI workloads.However, this isn’t a clean handoff at this point.Nvidia remains the default AI hardware supplier for a reason. Its CUDA software stack, developer ecosystem, cloud relationships and installed base are tough to displace. Customers will test alternatives, but moving serious AI workloads away from Nvidia isn’t simple.For perspective, according to a Silicon Analysts report, Nvidia chips held a tremendous 80% of the AI chip market, while CEO Jensen Huang framed its AI chip opportunity at at least $1 trillion through 2027. Nvidia’s rack problem starts inside the system Nvidia’s reported bottleneck isn’t in the Rubin Ultra GPU itself but in the board that helps the whole rack work.The SemiAnalysis note says the issue is linked to the midplane PCB, which Nvidia calls the orthogonal backplane. Put simply, the board allows compute trays and switch trays to connect vertically at 90-degree angles inside the rack, which reduces the need for thousands of traditional cables.That matters when Nvidia is looking to make 144 GPUs operate as one connected AI system.SemiAnalysis said using conventional copper cabling for Rubin Ultra NVL144 might need over 20,000 cables, add over 30% to rack weight, and create serious signal integrity problems.Without this part, scaling AI compute becomes heavier, messier and harder to deploy.Related: ‘Big Short’ investor Michael Burry issues blunt 4-word warning on AI stocks

Alibaba’s reported ban on Anthropic’s Claude Code looks, on the surface, like an IT decision at a company.It’s probably bigger than that.A Chinese tech giant has warned staff not to use Anthropic’s AI coding helper at work and has directed them toward its own coding platform, Qoder, Reuters reported, citing a person familiar with the directive. Reuters said the development came when Claude Code features that could assist in identifying users with links to China came under examination.For investors, the more profound problem isn’t whether Alibaba (BABA) engineers are using this or that tool.The question is whether the AI competition is expanding from model performance to control of the entire developer stack.That’s important because coding assistants are becoming one of the first areas that enterprises are turning AI into meaningful productivity improvements. If Chinese enterprises determine that U.S. tools pose a legal, compliance or national security concern, they could speed their migration to homegrown models and developer platforms.That might aid Alibaba’s AI ambitions.It might also make a U.S.-China rift over AI tougher to undo.Alibaba is not just trying to build better AI models. It is trying to make sure the developers using those models never leave its ecosystem.“For national security reasons, Anthropic does not currently offer commercial access to Claude in China,” the company said in a February post on detecting and preventing distillation attacks.Alibaba’s Claude Code ban points to a developer-stack fightClaude Code is not your typical chatbot.Anthropic refers to Claude Code as an “agentic coding system,” which can read a codebase, make changes across files, run tests and provide committed code. This makes it more of an AI software engineer than a basic text assistant.And that’s why the Alibaba report matters.When the best AI technologies are embedded in development processes, controlling those workflows is a strategic priority. The company that owns the coding assistance, the model family, the cloud platform, and the billing relationship gets more than just usage revenue.It is distributed.Reuters stated that Alibaba staff were told to use its coding environment, Qoder, rather than Claude Code. Qoder bills itself as an agentic platform with tools like the Qoder Desktop, Qoder CLI, cloud agents and a terminal-native AI coding partner.Related: Anthropic quietly joins the race to build its own chipsTiming is key since Alibaba is already beginning with a bigger AI developer drive.Qwen Code is a terminal-based AI coding tool that connects to Alibaba Cloud Model Studio through pay-as-you-go, Coding Plan or token plan choices. This means Alibaba is not just generating models, but also packaging them into developer tools that it can sell and maintain via its cloud business.Alibaba Cloud also offers an AI Coding Plan that supports Qwen models, Qwen Code and other popular coding tools. The proposal incorporates the Qwen-series models, including qwen3.5-plus, qwen3-max, qwen3-coder-next and qwen3-coder-plus, as well as third-party models.That’s the investor tip.Alibaba’s restriction on Claude Code could minimize its reliance on a U.S. competitor, but it could also force more developers further into Alibaba’s own AI and cloud offerings.Anthropic’s Alibaba dispute raises the stakesThe Alibaba-Anthropic battle is more than a matter of access.Anthropic also called out Alibaba for its alleged “distillation” effort, in which a less powerful model is trained on the outputs of a more proficient one, Reuters reported. Anthropic made the assertion in a letter to two U.S. senators.Anthropic has been publicly warning of distillation attacks. The business noted in a February post that labs can employ proxy services to access frontier models and generate enormous quantities of prompts targeted to extract specific skills. At one time, one proxy network had almost 20,000 bogus accounts, Anthropic stated.More AI:The new Chinese AI model rattling U.S. tech investorsAnthropic restores access to Mythos 5 for select organizationsSoftBank CEO offers stinging critique of Musk’s AI betThat goes some way to explaining why Claude Code became such a flashpoint.Developers told Reuters Claude Code had algorithms that evaluated user contexts, including time zone and proxy-related information, and included subtle marks in prompts sent to Anthropic’s servers. The function was an experiment launched in March to avoid account abuse by unauthorized resellers and prevent model distillation, an Anthropic staffer wrote on X, Reuters said.But the main point is that AI tools are no longer products. They are becoming managed infrastructure.In its supported areas site, Anthropic notes it reserves the right to deny products or services to entities whose predominant ownership may be traced back to countries not covered by its approved regions policy. Anthropic said in September 2025 that it was tightening limitations to bar companies controlled from countries where its products are banned, including China, regardless of where they operate.This puts big firms in a bind.Individual users may be able to circumvent the restrictions. But companies have legal, cybersecurity, and compliance teams. They have vendor risk policies. They have boards and regulators.So the Alibaba restriction could matter more than a regular software policy change.Alibaba’s AI business could get a tailwind.And Alibaba already has a financial incentive to keep AI activities more in its own ecosystem.Revenue at its Cloud Intelligence Group soared 36% to 43.28 billion yuan, or $6.19 billion, in the March quarter, the company said, supported by AI-related product revenue that posted triple-digit growth for the 10th straight quarter.Alibaba also announced its Qwen model family has become the most widely used open source model family in the world, with more than 1 billion total downloads on Hugging Face as of Jan. 21, 2026. The company said as of February, its consumer-facing Qwen app had over 300 million monthly active users across platforms.Those data help explain why the narrative of the Claude Code has a market angle.Alibaba doesn’t need Qwen to dominate every AI benchmark to count. It requires developers, enterprises and consumers to utilize its products frequently enough that the utilization strengthens Alibaba Cloud and related AI services.This is the point where coding helpers come in.Developers are sticky users. They create procedures, tools and habits around the systems they use daily. Once a corporation has standardized on a coding assistant, the model supplier might become part of the software-development process.

Alibaba’s AI fight shows where the real money is.VCG / Getty Images

Alibaba-Anthropic dispute: Key investor takeawaysAlibaba reportedly banned employees from using Anthropic’s Claude Code at work.The company is reportedly directing employees toward Qoder, its own coding platform.Anthropic has accused Alibaba of distilling Claude capabilities, according to Reuters.Anthropic says it does not currently offer commercial Claude access in China.Alibaba Cloud’s AI-related product revenue has delivered triple-digit growth for 10 consecutive quarters.Alibaba said its Qwen family has amassed over 1 billion cumulative downloads on Hugging Face.That is a clear strategic message.U.S. AI firms want to safeguard access to models. Chinese AI companies seek to cut dependence on U.S. tools. The developers are right in the middle.For Alibaba, it represents both potential and risk.The upside is that a push towards local AI technologies could boost Alibaba’s cloud and Qwen ecosystem. The problem is that the same geopolitical division could lead to a more fragmented, more regulated, and more expensive competition for AI.Alibaba’s real AI test is control, not just capabilityAlibaba’s alleged restriction on Claude Code is not the greatest AI story in itself.But the real story is what it tells us.The race to build artificial intelligence is going deeper into the plumbing of software development. It’s not about who has the smartest chatbot or the most spectacular benchmark anymore. It’s about who owns the tools that developers use to write, test and deploy code.That’s why this fight is important to investors.Alibaba has been pouring money into AI and cloud infrastructure. And it has a method to translate those investments into daily developer usage through its Qwen models, Qwen Code and the Qoder platform. If restrictions on access by other Chinese firms mean a flight from U.S. AI technologies, Alibaba would have a more captive domestic market due to concerns about surveillance or compliance risk.But there’s a catch.A more fractured AI industry might also mean the cost of competing worldwide is higher. U.S. developers may be more wary of Chinese models. Chinese developers may be pushed to local stacks. Cloud providers will need to provide more localized, compliant versions of the same core capabilities.That is to say, the potential for Alibaba’s AI has a sharper geopolitical edge.The company is set to benefit from China’s push for autonomous AI. But the same trend could make it harder to develop the global AI sector across borders.The message for Alibaba investors is simple.Claude Code could be the spark. The true prize is control of the developer stack.Related: The secret letter triggering a U.S.-China AI showdown

Apple’s Tim Cook sounded the price increase alarm in June.”Unfortunately, price increases are unavoidable,” he told The Wall Street Journal. “We’re doing everything we can to mitigate the huge increases being passed on to us.”The problem is a global shortage of memory chips. These components, known as DRAM (memory) and NAND (storage), are inside nearly every computing device sold today.Cook was not casual in his warning.”This is a hundred-year flood,” he said.It’s a situation that means higher prices, not just for Apple, but for consumers across the board. Normally, that would push consumers to stock up before prices increase, but that’s not what’s happening, according to Best Buy’s outgoing CEO Corie Barry.Best Buy’s CEO shares purchasing trendTraditionally, when people know that price increases are coming, that leads to at least some consumers buying ahead to meet future needs. That’s not happening, according to Barry.”In our research around the consumer. We are not seeing any indicators that would say the customer is pulling forward purchases,” she said during Best Buy’s first-quarter earnings call. More Retail:60-year-old retailer closes over 240 locations across 35 statesRetail giant exits U.S. fashion after multi-million-dollar scandal79-year-old fast-fashion retailer closes 128 storesBarry noted that the upcoming price increases, something that will hit pretty much any product that uses memory, unless the manufacturer opts to eat higher costs, have not impacted customer purchases.”And in fact, very few really are worried about memory, as I say, in air quotes. And we’ve been keeping a really tight eye on this. So I think, again, I said it, we continue to see very consistent customer behavior, which is a customer that’s under a little more pressure, but still resilient, attracted to deals and sales moments, shopping within their budget,” she added.

Best Buy has not seen a significant “pull forward” of electronics spending. Shutterstock

Americans are being cautiousA few months ago, I ordered a hot tub because it was being offered at a lower price than I had seen before. We hadn’t moved into the house where the spa is located, but spending the money now meant saving close to $1,000 rather than pushing the purchase down the road.When consumers choose not to buy ahead, despite expected price increases, it can be an early sign they’re feeling less confident about future spending. That’s backed by data from a report by McKinsey & Company’s ConsumerWise team.”In the second quarter of 2026, U.S. consumers faced uneven hiring, rising inflation, and ongoing geopolitical tensions. Against that backdrop, a smaller share of consumers reported feeling optimistic about the economy, while a greater share said they felt pessimistic. Consumers also reported intentions to pull back spending across most discretionary categories,” according to McKinsey.That does not match what Barry sees.”And while they’re thoughtful about the big ticket buys, they’re absolutely willing to spend on those high price points when they need to or when the technology is compelling enough,” Best Buy’s CEO, who steps down in October, said.Americans say they’re being cautiousIntent to spend within discretionary categories declined broadly, according to McKinsey. “Big-ticket retail segments could face the greatest pressure. Consumers reported the greatest net negative intent to spend on accessories, jewelry, and home décor, while intent to spend on sports and outdoor equipment, furniture, and short-term apartment rentals dropped the most from the previous quarter,” the report showed.In some cases, the drops are very large. “In many of these categories, 40 to 50% of consumers said they expect to spend less over the next three months. Across nearly every discretionary category, the share of consumers planning to spend more remains relatively small — generally in the low- to mid-teens,” McKinsey added.Bank of America’s April Consumer Checkpoint did show some positive signs.”Spending growth was strong in April, according to Bank of America internal data. Total credit and debit card spending per household rose 4.8% year-over-year (YoY), up from 4.3% YoY in March. Excluding gasoline, card spending was still a strong 4.0% YoY. However, spending growth did slow in April from March across multiple discretionary ‘nice-to-have’ categories,” the report showed.Americans did pull back at the end of the month.”Looking at the 7-day moving average of total card spending per household through the end of April suggests that spending growth may have eased more significantly towards the end of the month, particularly for discretionary spending,” the BofA data showed.Related: Southwest Airlines drops the one thing customers actually liked

The Philadelphia Semiconductor Index just had its best quarter on record. The S&P 500 just wrapped its strongest quarter in six years. Two months ago, traders were tracking a war in the Middle East and an unpredictable Federal Reserve. Markets shrugged most of it off.Wall Street’s four-word summary of all that came from Baird investment strategist Ross Mayfield in a Yahoo Finance interview on July 5: “It’s a bull market.” He didn’t bury the lead. But the reasoning behind those four words is worth understanding before acting on them.Why Wall Street is calling this a bull market right nowMayfield did not hedge when asked for his read on the market. He said the bull market is “driven by earnings and liquidity, and those are the kind of things that can keep this going into the 2nd half of the year, and probably, in my opinion, into 2027 as well,” Yahoo Finance noted.More Wall Street:Wall Street has a new problem, and it’s not the technologyWall Street’s biggest banks just landed the AI IPO of the yearWall Street’s top analysts just doubled down on 3 stocksThe reasons behind that call are specific. Falling oil and gasoline prices after the U.S. and Iran suspended fighting removed one of the bigger macro headwinds from the first half. The June jobs report, which came in at 57,000 payrolls against expectations of 115,000, signaled a labor market cooling without collapsing, and more importantly, one unlikely to push the Fed toward rate hikes this year. Small- and mid-cap stocks outperformed alongside semiconductors last quarter, giving the rally a broader base than most expected.”I think there’s just more to be excited about than there is to be nervous about,” Mayfield added.The earnings and liquidity pillars he cited have external support. FactSet data showed analysts predicting a 21% gain in the S&P 500 over the next 12 months. JPMorgan recently lifted its year-end target to 7,800. Goldman Sachs has gone further, setting its own target at 8,000 on the back of AI-driven earnings growth, as TheStreet reported. The convergence of multiple major Wall Street banks around the same bullish thesis is itself a signal worth noting.What the AI trade actually looks like going into Q3 earningsTechnology remains the center of gravity. The Philadelphia Semiconductor Index posted its best quarter ever, but the Magnificent 7, traditionally the driver of index gains, actually underperformed semiconductor stocks last quarter. Investors are asking harder questions about whether the enormous AI infrastructure spending by major hyperscalers will show up in earnings in a way that justifies the capital committed.Veteran market strategist Ed Yardeni put it plainly, noting that investors are “questioning whether the hyperscalers’ massive spending on AI infrastructure will ever pay off,” according to Yahoo Finance. The free cash flow profile of some of the biggest AI spenders has become a genuine concern alongside the more bullish semiconductor narrative.Dan Ives, a veteran technology analyst who departed Wedbush Securities on July 1 to launch his own AI-focused merchant bank, said the next test arrives in July.”You have to see, as we go into earnings season in July, the validation and monetization of AI,” Ives said, as Yahoo Finance reported.Schwab Asset Management CEO Omar Aguilar told Yahoo Finance the AI trade has not peaked, but has simply reached a different phase, closer to “the middle section of the innings.” He pushed back on concentrated megacap positioning, emphasizing diversification instead.

Mayfield’s bull case comes with a specific warning.Santiago/Getty Images

Where strategists are finding opportunities beyond megacap techAguilar’s sector rotation call was specific. He is not pointing to the usual AI infrastructure names. He is pointing to the industries that come after them in the adoption chain.”We really like areas like industrials, like healthcare, like materials that are just at the beginning of really taking advantage of the AI structure,” Aguilar added.Small- and mid-cap companies are another area strategists are watching. They outperformed last quarter, and some analysts argue they still have room to close the gap with large-cap leaders if earnings hold and the macro backdrop stays cooperative. Wells Fargo made a similar rotation argument in its own second-half outlook, as TheStreet reported, favoring cyclicals and AI infrastructure names over concentrated megacap exposure. International stocks have also drawn attention from strategists who see rotation opportunities as U.S. markets digest a strong first half.What could slow the second-half rally downMayfield’s bull case comes with a specific warning. The semiconductor index’s record quarter produced exactly the kind of chart pattern that tends to make experienced investors cautious. Mayfield flagged it directly, noting that stocks in parabolic runs rarely cool off by moving sideways. They tend to correct sharply when sentiment turns.Valuation is the broader version of that concern. The market is not starting the second half from a cheap base. A Bloomberg survey of strategists put the average year-end S&P 500 target at 7,716, which implies only modest additional upside from late-June levels. The case for more gains is not that stocks are underpriced. It is that the earnings and liquidity picture is strong enough to justify where prices already are.Rate risk remains a factor. The June jobs report eased immediate concerns about Fed tightening, but any shift in inflation data or Fed signaling could change the math quickly. Geopolitics also remains open-ended. The first half survived a war, oil spikes, and rate volatility with strong returns. Expecting the same resilience in the second half is a reasonable bet, but it is still a bet.Related: Goldman Sachs doubles down on stock market outlook for 2026

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealThe sun is a welcome sight come spring, particularly after such an overcast, frigid winter, but there’s only so much your body can handle sometimes. Not only is it not smart to expose your skin to constant rays, especially if you’re not wearing sunscreen, but when the heat really gets brutal, scoring time in the shade is the much-needed respite from those summer heatwaves. The right umbrella not only offers you shade to keep you cool and dry, but it keeps you from constant sun exposure when you’re enjoying some time outdoors on the patio or deck. These days, though, patio umbrellas don’t just provide covering. Many newer models have 360-degree adjustable angles to pivot as the sun moves and provide more shade, as well as have additional features like lights, cupholders, and wind-vents. With those extra perks, many models often have an expensive price tag, but if you know where to look and start shopping early, you can get quality patio furniture for a fraction of the cost. Walmart’s bestselling Ainfox LED Patio Umbrella is on sale for $60. And if you’re looking for something a bit smaller or in a different style, you’ll be thrilled to know that this umbrella comes in multiple colors, tier designs, and heights ranging from 7.5 feet to 13 feet — most are on sale right now — so you can find the one that best suits your needs if this LED 10-footer isn’t quite right for you. Ainfox LED Patio Umbrella, $60 (was $131) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?Patio umbrellas, for the most part, look pretty similar, but it’s the details and extra accessories that differentiate between the many models available on the market right now. The Ainfox one, which measures in at 10-feet tall, has a sturdy aluminum pole with reinforced zinc at its center to properly support the umbrella. It uses a special rib construction where the pole is reinforced with ribs, either internally or externally, to increase rigidity, structural strength, and durability so your umbrella doesn’t go sailing at the slightest hint of a breeze. The umbrella portion, which is perfect for providing shade in your yard, over parts of your pool, garden, deck, backyard, or porch, has a single wind vented canopy that’s made with UV-resistant, fade-resistant, water-resistant polyester fabric that allows heat and wind to escape preventing excessive movement or warmth underneath it. To put it up, the umbrella pole has a built-in crank that’s pulley-assisted to easily open and close the umbrella. That’s also where you’ll find a push button that allows you to freely adjust the angle of the umbrella and then lock it in place.And since it’s not quite enough for an umbrella to offer shade these days, this one has the extra bonus of including LED strips that provide light when the sun sets and it gets dark out. The eight light strips, which turn off and on with a single button built into the pole, are solar powered by the detachable solar panel. Five to six hours “charging” in the sun gives you up to five hours of light before the solar panel needs another charge. It’s the perfect way to add some subtle light to your outdoor area without it being overly harsh or bright. Related: Walmart is selling a 3-piece rocking chair patio set for just $68The umbrella offers about 9.55 feet of coverage underneath in total when fully opened up. An umbrella stand is not included, although the brand is selling one for 43% off and only $29 right now. What to expect from a $60 umbrella: Pros and consProsWeather-resistant construction: The umbrella is made with zinc reinforced aluminum and UV-resistant, fade-resistant, water-resistant polyester fabric.Versatile: The umbrella offers shade and protects you from the sun during the day, and the LED light strips provide subtle lighting when it gets dark out. Easy-to-maneuver: The pulley-assisted built-in crank and angle adjustment button make it easy to maneuver and set the umbrella to your liking. ConsAdditional pieces required: An umbrella stand is highly recommended, but not included in your purchase. Shoppers are impressed with the quality of the umbrella’s fabric, the effective shade coverage it gives off, and how easy it is to adjust its positioning. They find it to be very well made and sturdy, and appreciate how well it holds up even in windy conditions. “Sturdy enough to handle the sun and rain without throwing a tantrum,” one shopper said. “Keeps you cool without breaking the bank. An umbrella offers you both protection and a place to escape the heat when it gets really bad come July and August, and the Ainfox LED Patio Umbrella goes the extra mile by also offering you light once the sun goes down. Take advantage of the great deals and score this 10-footer for only $60.

Most people have never heard of Bending Spoons. But plenty of them use its products every day. The company owns Evernote, WeTransfer, Vimeo, Eventbrite, AOL, and StreamYard, among more than 50 businesses acquired since 2013.Last week, Bending Spoons (BSP) went public and laid out an ambitious roadmap. It wants to keep acquiring digital companies at scale, including aging software and internet brands that once dominated their categories but have since lost momentum.Bending Spoons built its playbook from a failed startupBefore Bending Spoons existed, its founders ran a company called Evertale, an AI-powered diary app. It raised a million dollars, hired a small team, and still failed to find customers. By 2013, the founders were down to a few months of cash and no real revenue, according to a letter from the founders included in the company’s IPO prospectus filed with the Securities and Exchange Commission.That experience shaped everything that came after. CEO Luca Ferrari and his co-founders concluded that luck, not skill, often determines whether a young company finds product-market fit. “We’d observed phenomenal entrepreneurs fail in their ventures and less remarkable ones succeed,” Ferrari explained in the shareholder letter. “Even accepting that our own judgment was flawed in some cases, it was apparent that luck mattered a great deal at the early stages of a business.”Related: OpenAI’s $1 trillion ambition could delay its IPOOperating an existing business well, on the other hand, comes down to talent and discipline, things a team can actually control.So instead of building new products from scratch, Bending Spoons started buying businesses that already had customers, then rebuilding them from the inside. The company calls this its Playbook: acquire, transform, reinvest, repeat. It has applied this approach, with internal rate of return targets of 65% on a levered basis and 25% unlevered, to deals closed between 2023 and the first quarter of 2026.Bending Spoons’ revenue, profit scaled quicklyBending Spoons reported revenue of $1.31 billion in 2025, up from $671 million in 2024 and $387 million in 2023, a compound annual growth rate of 84%.Operating income stood at $278 million in 2025, while adjusted operating income, which excludes certain noncash and one-time costs, was $613 million, representing a 47% margin. In the first quarter of 2026, it reported revenue of $601 million, more than double the $259 million reported in the same period a year earlier.Net income has been choppier. The company posted a small net loss in 2025 after an $88.9 million profit in 2024, largely reflecting swings in tax expense and interest costs tied to acquisition debt. Adjusted net income, however, climbed steadily to $375.6 million in 2025 and $206 million in the first quarter of 2026.The balance sheet shows the scale of the buildout. Total assets stood at nearly $7 billion as of March 31, 2026, against total liabilities of $5.9 billion, much of it acquisition-related debt.
Source: Bending Spoons IPO prospectus

Bending Spoons applies a private equity playbook to software.Bloomberg via Getty Images

A focus on key acquisitionsBending Spoons says it has already scouted its next wave of targets. Using data from PitchBook along with its own research, the company narrowed a list of tens of thousands of private and public businesses to more than 1,000 candidates that generate between $50 million and $5 billion in annual revenue each. More Wall Street:Wall Street has a new problem, and it’s not the technologyWall Street’s biggest banks just landed the AI IPO of the yearWall Street’s top analysts just doubled down on 3 stocksRoughly 791 of those targets are based in North America and 240 in Europe, together representing close to $400 billion in combined 2025 revenue. Many are established self-serve subscription or advertising businesses, the kind of aging but stable software brands that fit the pattern of past deals like AOL, Vimeo, and Eventbrite.Artificial intelligence is playing a growing role in that hunt. Bending Spoons said the share of its engineering pull requests authored or coauthored by AI jumped from under 10% in early 2025 to more than 90% by the first quarter of 2026, with around 70% written by AI alone. Revenue per employee climbed from $1.12 million in 2023 to $2.57 million in 2025 as a result, the company said.Bending Spoons raised over $1 billion via its IPO, at a share price of $29. At the time of writing, the stock trades at $36. The funds raised through the IPO will be deployed towards general corporate purposes and future acquisitions. For a company that started with $40,000 in seed money in 2013, the shift to billion-dollar acquisition math marks a significant next chapter, one investors will be watching closely over the next decade, and beyond.Related: Wall Street’s $200 billion IPO wave threatens sell-off

Southwest Airlines built its business on being an airline that allowed its employees, even encouraged them, to have personality.Before it dropped its in-flight magazine during the COVID pandemic, that publication had a section featuring stories about flight attendants, pilots, gate workers, and other personnel going above and beyond for passengers.You might get a pilot buying pizza for a plane full of passengers stuck due to weather or a flight attendant helping someone get to their destination after deboarding. They were inspiring tales that often brought you to tears.At the time, Southwest Airlines also had more playful flight announcements, the occasional singing flight attendant, and a broad attempt to be more than just another impersonal air carrier.In addition, the airline had traditionally responded to customers on X, the former Twitter, and other social media platforms in real time. That’s something that appears to have stopped, according to View From the Wing’s Gary Leff.Southwest Airlines makes a social media changeA few years ago, I flew Southwest multiple times a month commuting to my company’s office in Alexandria, VA. I had top-tier loyalty status and was annoyed on one flight when a traveling college volleyball team was given priority boarding.That pushed my guaranteed “A-List” boarding spot back to the middle of the pack, and I wasn’t thrilled, so I posted on what was then called Twitter and tagged the airline. I got an immediate response, apologizing and acknowledging that the airline might have made a mistake. It didn’t change anything, but I felt heard, and it was much better than me trying to get a response from a busy worker at the gate.Now, Leff reports that Southwest Airlines appears to no longer be responding on social media. “Delta Air Lines doesn’t provide much social media customer service. I haven’t seen a public reply to a tweet from them since mid-May. But American Airlines (especially) is very good with Twitter customer service, and so is United,” he wrote. “Until recently, Southwest Airlines was, too. Their reps even used to be quite funny and responsive with memes.”More Travel:Hotel prices have actually fallen in these major citiesPopular cruise, tourist destination will triple entry taxDisney World just ended a trick that let visitors park freeLeff, who has been monitoring the account, shared the changes he has noticed.”Southwest used to staff their social care team 24/7. With about 3,000 Twitter mentions per day, reps were answering scores of messages there and targeted a response time of 15 minutes. No longer. I haven’t seen a single Southwest Airlines reply on Twitter since June 18,” he added.

Southwest Airlines has dropped its open boarding policy.Shutterstock

Southwest Airlines has cut workersBefore its recent operating changes, Southwest Airlines had a policy of not laying workers off. “For more than five decades, Southwest staffers—who call themselves Cohearts—didn’t have to worry about losing their #jobs in tough times. The company touted its ability to avoid mass #layoffs during new-hire orientations. That practice changed in February, when the airline cut about 1,750 jobs, or 15% of its corporate workforce, to rein in fast-rising costs,” the Wall Street Journal reported.That’s a change that happened as the airline dropped its open seating policy, stopped its “Transfarency” system of being transparent about all fees, and generally adopted the operating model used by rivals, including American, Delta, and United, where customers pay for seat assignments, boarding position, and more.Josh Wilson, an airline industry analyst, sees the airline as having gone through a major cultural shift.”Now, on quarterly earnings calls, Bob Jordan discusses the layoffs in terms that employees and aviation observers have described as unexpectedly enthusiastic, framing headcount reduction as a driver of profitability and efficiency in language that contrasts sharply with the culture Southwest spent five decades building,” he posted on Facebook.Southwest Airlines is making moneySouthwest overhauled its long-term operating model in 2025, In 2025, under pressure from activist investor Elliott Investment Management.Jordan, speaking during the airline’s first-quarter earnings call, made it clear that the changes have worked on a financial level.”First quarter 2026 represents an important milestone for Southwest as all our previously announced initiatives are now in place and contributing to our results, and what a difference a year makes. That broad set of commercial, operational, cost, and efficiency actions represents a fundamental transformation of our business model, and is translating into strong customer demand for our new product, strong financial results, and strong margin expansion,” he said.The company, he noted, has shifted from a loss to a profit.”First quarter EPS of $0.45 was in line with our guidance in January and represents a significant year-over-year improvement from a loss of $0.26 per share, or an adjusted loss per share of $0.13, and these results were delivered against the backdrop of significantly higher fuel costs,” he added.Leff has not been impressed. “The airline has been through multiple rounds of layoffs even while maintaining profitability. “They’ve changed their entire ‘customer-friendly’ business model. So it’s not surprising that they no longer appear to be publicly engaging with customers. Responding to complaints increases the visibility of complaints! Better to bury their head in the sand, I guess, and save the staffing costs,” he added.Southwest Airlines did not respond to a request for comment on this story.Related: Southwest Airlines leaves rivals flat-footed as bankrupt carrier folds

Building a nationwide wireless network takes billions of dollars and years of patient investment. That reality has meant that the U.S. wireless market has been dominated by three players for more than a decade, no matter how many challengers have tried to break in.Dish Network was the latest company to test that theory. Now its wireless ambitions are over, and T-Mobile is one of the companies best positioned to pick up the pieces.Dish Wireless files for bankruptcy protectionDish Wireless and its parent, Dish DBS, filed for Chapter 11 bankruptcy protection on June 30. The filing came after the company faced $2 billion in senior secured notes that came due July 1, according to court filings on PacerMonitor.The trigger was a delay in EchoStar’s $23 billion spectrum sale to AT&T, which covers Dish’s valuable 3.45 GHz and 600 MHz airwaves. Without that cash, EchoStar could not meet its debt payments. The company had also agreed in September 2025 to sell separate spectrum to SpaceX for $17 billion.EchoStar said the plan already has support from a large share of its creditors. In a statement, DISH stated:”Holders of more than 88% of DISH DBS’s secured and unsecured notes, who also hold more than $8.8 billion of DISH Wireless debt, have signed the RSA and have agreed to support the Plan.”Under the plan: Dish Wireless will wind down as a network operator. EchoStar says its Boost Mobile and Gen Mobile prepaid brands will continue to operate with no disruption for customers, and DISH TV and Sling TV are not part of the bankruptcy at all.One casualty of the filing is Project Genesis, the flat rate wireless plan Dish launched in 2022 to compete directly with T-Mobile, AT&T and Verizon. Customers were promised a $30-per-month unlimited phone plan and a $20-per-month hotspot plan for life. That lifetime turned out to belong to the company, not the customer. Service ends for good on Aug. 31, according to notices sent to subscribers.

Srini Gopalan, CEO is optimistic about long-term customer retentionBloomberg/Getty Images

Why this matters for T-MobileDish never came close to matching T-Mobile (TMUS), AT&T or Verizon in size. Still, it was created for a reason. Regulators pushed for a fourth wireless carrier as a condition of approving the T-Mobile and Sprint merger, hoping it would keep prices competitive. Its exit removes that piece of the pricing puzzle, and analysts see room for wireless prices to steady across the industry as a result.T-Mobile also picks up a smaller, more indirect benefit. Boost Mobile is shifting to a hybrid network model in which AT&T’s towers, not T-Mobile’s, provide its primary connectivity going forward. More T-Mobile:T-Mobile warns customers that a key service will double in priceT-Mobile adds new internet plan restriction customers will feelT-Mobile’s hiring efforts take an unexpected turn after layoffsT-Mobile does retain a secondary roaming arrangement with Boost, a holdover from the original 2020 Sprint merger transition deal, so it likely keeps some wholesale revenue from those subscribers regardless of how Dish’s remaining spectrum is divided, though that role is smaller than it once was. It is also worth noting that AT&T is lined up to buy Dish’s most valuable spectrum licenses, so the biggest spectrum windfall goes to a rival rather than T-Mobile.Even so, T-Mobile has not slowed down. The company completed a $2 billion network buildout in Florida last year and has absorbed UScellular’s customers and spectrum, adding to its mid-band spectrum lead over both AT&T and Verizon.T-Mobile executives point to demand from network seekersT-Mobile leaders have spent recent months telling investors that growth is coming from customers who are actively choosing the company for its network, not just its price.CEO Srinivasan Gopalan told attendees at the J.P. Morgan 54th Annual Global Technology, Media and Communications Conference in May that roughly 20 million families and businesses still use AT&T or Verizon simply because they believe those carriers have the better network. Gopalan explained:”Network differentiation happens when you experience it, when our network is demonstrably superior where you work, where you live and where you play.” CFO Peter Osvaldik echoed that point at the 2026 Evercore Global TMT Conference in June, noting that customers switching to T-Mobile in the first quarter cited network quality more often than ever before. Related: National wireless carrier shuts down after Chapter 11He also pointed to porting data as proof that the company is winning higher-value customers, saying port-in customer bills were 20% higher than those of customers who left.Fewer wireless rivals and a growing reputation for network quality put T-Mobile in a strong spot as competition thins out. Dish’s bankruptcy will not hand T-Mobile a windfall of spectrum, but it does remove one more disruptive name from the field. Combined with steady investment in its own network and continued gains among customers chasing better coverage, T-Mobile heads into the second half of 2026 with one less challenger standing in its way.Related: T-Mobile retires several cheaper wireless plans for customers

Goldman Sachs spent more than a year telling clients that Taiwan Semiconductor Manufacturing (TSM) was one of the best stocks to own in Asia. However, on July 1, 2026, the bank changed its mind.Goldman dropped TSM from its Asia-Pacific Conviction List. This list is the bank’s short roster of ideas its analysts strongly back. In addition to TSM, Goldman cut Chinese tech giant Alibaba (BABA) on the same day.For TSM, which sits at the center of the entire AI buildout, the decision landed with a jolt.What Goldman’s move on TSMC stock really signalsGoldman did not tell investors to sell TSM, and it even kept its buy rating in place, TipRanks reported.However, the Conviction List is tighter than a standard buy rating. The list holds the names the bank feels strongest about at a given moment.A removal therefore represents a drop in enthusiasm, not a verdict on the business, and knowing that difference is key. 

Taiwan Semiconductor Manufacturing lost its spot on Goldman Sachs’ Asia-Pacific Conviction List on July 1, 2026.Just_Super / Getty Images

Why Wall Street trims winners after a long runCutting a stock from a conviction list is not necessarily a signal that something is wrong with the business. It could occur simply because the stock has performed at the highest level investors expected.TSM has gained more than 54% in 2026 and trades near record highs, with a market value of around $2.3 trillion. More Semiconductor Stocks:Wall Street flees software plays for triple-digit chipmaker boomTop analysts set a jaw-dropping Micron stock target after its surge5-star analyst resets AMD stock price target, but it’s not about GPUsMuch of the near-term reward analysts expected from the stock has already been priced in.Goldman had aggressively raised its target earlier this year, lifting it to NT$2,330 while reiterating a conviction buy. After that kind of run, banks tend to rotate their boldest calls toward names with more room left.The insider selling that added to the cautionAnother quiet signal lurked in the background.Insiders sold roughly $14 million in TSMC shares in the three months before the removal. However, insider sales are not always a warning, since executives sell for many personal reasons.Still, a high number of insider sales near an all-time high tends to make analysts rethink how much short-term growth is left.How TSMC still runs the chip worldNone of this loosens TSMC’s grip on the industry.According to telecomlead, the company held about 72% of the global foundry market in the first quarter of 2026. It produces chips for Apple, Nvidia, AMD, and most of the AI economy.Related: TSMC CEO sends blunt message to memory chip rivalsTSMC’s first-quarter results backed its dominance, with revenue up 40.6% from a year earlier and gross margin above 66%, an SEC filing shows. The company also expects the chip market to reach $1.5 trillion by 2030.TSMC stock vs. the rest of the AI chip packHere is the twist. TSMC’s 54% gain actually looks tame next to its customers and peers this year, 2026.Sandisk (SNDK) has climbed more than 857.8% YTD.Micron (MU) has soared more than 250%.AMD has more than doubled to about 131.7%.Intel (INTC) and Marvell Technology (MRVL) have both done about 205.6% and 174.4% YTD, respectively.That gap helps explain the rotation. When flashier names are surging, a steady giant can fall out of favor, even though nothing about its underlying business has changed.What TSMC stock needs to prove nextThe near-term test comes fast. TSMC reports second-quarter results on July 16, and that number will set the tone for the next move.What to watch when TSMC reportsWhether revenue growth holds above 30% for 2026Gross margin staying in the mid-60s as overseas fabs rampCapital spending plans, guided near $52 billion to $56 billion this yearFresh details on 2nm production and tight CoWoS packaging capacityThe bottom line for TSMC investorsFor long-term holders, Goldman’s decision is a call to be cautious.The rest of Wall Street stays constructive. According to MarketBeat, Bank of America recently raised its TSMC target to $590, and on June 29, 2026, UBS upgraded its target for TSMC’s Taiwan-listed shares (TWSE: 2330) from NT$3,000 to NT$3,400 while keeping its buy rating intact.TSMC still sits at the center of the AI supply chain. But after a 54% run, even its biggest backers are being careful.Related: Wall Street flees software plays for triple-digit chipmaker boom

After several years of shrinking store fleets, many apparel retailers have shifted toward investing in fewer, higher-performing locations. Rather than opening as many locations as possible, brands are increasingly concentrating investment in premium real estate that can serve as both shopping destinations and brand showcases.One fashion retailer is embracing that strategy while continuing to close locations that no longer meet its profitability standards. The company is betting that flagship stores, immersive shopping experiences, and direct customer relationships will generate stronger long-term returns than rapid expansion alone.That strategy reflects a broader evolution in brick-and-mortar retail, where physical stores increasingly function as marketing platforms and experiential destinations alongside their traditional role as places to shop.Founded in 1975, Canadian women’s fashion retailer Groupe Dynamite Inc. operates more than 300 stores across North America under its Dynamite and Garage banners.As part of its broader growth strategy, the company is investing heavily in Garage by prioritizing flagship destinations, premium real estate, and direct relationships with shoppers instead of simply increasing its store count.Garage is opening its biggest flagship storeGarage Clothing will open its largest and most immersive flagship to date in Manhattan’s Flatiron District, New York City, at the corner of Fifth Avenue and East 21st Street.Scheduled to open in spring 2027, the multi-level flagship will span more than 9,500 square feet and is designed to serve as both a shopping destination and a content-creation hub.”This flagship location represents a major milestone for the brand, allowing us to showcase our full expression of Garage in one of the world’s most dynamic retail markets,” said Groupe Dynamite VP of Global Real Estate & Store Development Romina Kolodziejska. “Expanding in New York at this scale underscores our confidence in the brand’s continued growth, and our commitment to meeting our customers where they are.” The Manhattan flagship is only the beginning. Garage also plans to open similar flagship locations on Newbury Street in Boston and on M Street in Washington, D.C.’s Georgetown neighborhood, markets the company has identified as long-term growth priorities.Garage continues expanding internationallyThe flagship strategy is only one part of Garage’s broader expansion plans.The retailer opened five stores during the first quarter of fiscal 2026, according to its latest earnings report.In the U.S., Garage expanded its presence in existing markets with new stores in Las Vegas and Hawaii. Internationally, the brand entered the UK by opening its first stores at Bluewater Shopping Centre in Kent and on London’s Oxford Street. Additional locations are planned for Manchester, including Arndale and Trafford Centre.The company also renovated or relocated three Canadian Garage stores during the quarter as part of its ongoing efforts to improve real estate performance and strengthen its existing portfolio.Groupe Dynamite President and COO Stacie Beaver said the retailer’s real estate strategy continues to drive customer growth and profitability.”By opening new locations in premium centers, optimizing our fleet, and delivering a compelling in-store experience, we continue to drive significant productivity improvements across our store network,” said Beaver in the company’s latest earnings report. “Most importantly, we continue to see strong customer engagement across both brands, reflected in growth in our active customer base and increasing customer lifetime value.”During its first-quarter fiscal 2026 earnings call, executives also emphasized that speed and agility remain among the company’s biggest competitive advantages as fashion trends and consumer preferences continue evolving.That philosophy is one reason the retailer has chosen not to pursue a wholesale model. By maintaining a direct relationship with customers, the company says it can respond more quickly to demand, manage inventory more efficiently, protect margins, and capitalize on emerging trends.

Garage clothing closes stores and opens flagship locations as part of its optimization strategy.Chris J. Ratcliffe/Bloomberg via Getty Images

Store optimization remains part of the strategyWhile Garage continues expanding into high-profile markets, the company is also trimming locations that no longer meet its long-term profitability goals.During the first quarter, Groupe Dynamite closed five stores, four Dynamite locations in Canada and one Garage store in the U.S.The closures align with the retailer’s broader strategy of concentrating investments in higher-growth markets, particularly the U.S. and the U.K., where management expects stronger long-term returns.In its fiscal 2026 outlook, Groupe Dynamite lowered its forecast for new store openings to between eight and 10, down from its previous guidance of 10 to 12. At the same time, it accelerated the planned closure of two additional stores.According to management, both locations had already been scheduled to close next year, but executives decided to move up the timeline as part of the company’s ongoing network optimization plan.”Now to be clear, those two stores were profitable,” said Groupe Dynamite CFO Jean-Philippe Lachance during the earnings call. “They simply were not profitable enough to our standards. We’ve decided to do the right thing for our business and close those two stores a little bit sooner than expected. This year, that brings your total amount of closures or the guidance to 16 closures, which is certainly on the high side.”The company added that while store optimization will continue over the next several years, it expects the pace of closures to slow after fiscal 2026.Here’s some of my previous coverage of store closures:79-year-old fast-fashion retailer closes 128 storesOne of the world’s largest fashion retailers closes 106 storesLuxury chain closes flagship store after 112 yearsThe strategy is already delivering resultsGroupe Dynamite’s disciplined approach to real estate investment and store optimization is already translating into stronger financial performance.During the first quarter of fiscal 2026:Total revenue increased 37% year over year.Comparable store sales rose 22.6%.Operating income climbed 80.1%.”We have invested in brand elevation rather than promotions, top-tier assets rather than pursuing growth at any cost, agility rather than bureaucracy, and people rather than organizational complexity,” said Groupe Dynamite CEO Andrew Luffy during the earnings call.”At the same time, we have remained disciplined in capital allocation, focusing on investments that generate attractive returns and strengthen the long-term earnings power of the business.”The strong quarterly performance comes as Groupe Dynamite continues to invest in flagship stores, premium retail locations, and a more disciplined store portfolio, while expanding across North America and the U.K.Related: Convenience store giant sells stores, exits market