AST SpaceMobile reported second-quarter 2026 revenue of $31.5 million, up more than 100% sequentially, driven by government contract milestone revenue and sales of gateway equipment to carrier partners. Management reiterated its full-year revenue guidance of $150 million to $200 million. The company said it has recently secured more than $100 million in contracts. It also said it works with more than 60 mobile network operator partners covering more than 3 billion subscribers.

Meta Platforms considered cutting some teams by as much as 60% as it reshaped the company around AI, Reuters reported. The company ultimately laid off 10% of its workforce in May and dropped plans for a second round of job cuts. Meta said second-quarter costs and expenses rose 55% year over year to $42.03 billion, and it expects 2026 capital spending of at least $130 billion. Meta shares were down more than 10% year to date at the time of writing, with $592 cited as a near-term technical level.

SuperX AI said its wholly owned Japanese subsidiary, SuperX Industries, has received a commercial purchase order worth about $38.8 million from Japanese technology company WOODMAN. The order covers Nvidia Corporation’s (NVDA) B300 GPU-based server clusters for an AI infrastructure project in Yokohama, Japan, with delivery scheduled by mid-November 2026. As of Aug. 20, SuperX had received roughly 20% of the order value as an advance payment, with the remaining balance due before shipment under the contract terms. SUPX shares remain well below last year’s highs, leaving the deal as a potential focal point for market attention.

Nvidia is set to report fiscal second-quarter results after the close on Aug. 26, with attention on whether its revenue can sustain rapid growth. Over the past 12 months, the company generated $119 billion in free cash flow, up 54% year over year, and posted gross margins near 75%. Nvidia is also in talks to invest in AI search platform Perplexity AI at a $30 billion valuation, up from $20 billion last year. Perplexity’s annualized revenue has risen this year from $250 million to more than $750 million.

Chicago wheat futures surged on Wednesday, briefly reaching the 45-cent daily limit, after reports said Russia is looking to escalate the Black Sea conflict with Ukraine. The development fueled concerns that wheat export flows from the region could be constrained in the near term. Separately, EU soft wheat exports fell to 2.38 MMT for the July 1 to August 23 period, according to the European Commission.

December arabica coffee futures fell 4.35% and November robusta coffee futures slipped 2.30%, with both contracts hitting one-week lows. Brazil’s Cooxupe cooperative said 87.5% of its harvest was complete as of Aug 21, up 6 points from the prior week. Safras & Mercado reported that Brazil’s 2026/27 coffee harvest was 90% completed as of Aug 12. Expectations for larger Brazilian supplies weighed on prices.

Broadcom’s management expects AI semiconductor revenue to exceed $100 billion in fiscal 2027, a sharp step up from the $56 billion it is forecasting for fiscal 2026. In fiscal 2026’s second quarter, the company posted $10.8 billion in AI semiconductor revenue, up 143% year over year.

Michael Burry’s fund has fully exited its Alibaba stake as the company moved to raise about $10.2 billion through a discounted share placement to fund AI and cloud infrastructure. The financing announcement sent Alibaba shares down 8.5% in a single session. The stock is down about 18% so far in 2026, and the company trades at roughly 27.2 times trailing earnings.

Western Digital shares have fallen 45% from their recent high, but the company’s fundamentals remain solid. Revenue climbed 36% to $12.9 billion, while gross margin rose to 49.1% and operating margin widened 1,290 basis points to 37.3%. EPS more than doubled to $10.22 and free cash flow reached $3.5 billion. Management forecast next-quarter revenue of about $4.1 billion, roughly 45% YoY growth, with gross margin of 55% to 56% and EPS of about $4 versus $1.78 a year earlier.