Consumer Tech (Jul 13-17): IBM Sees Worst Day On Record, Gemini 3.5 Pro Release Delayed, Uber Acquires Delivery Hero & More

President Donald Trump, hedge fund billionaire Bill Ackman and entrepreneur Anthony Pompliano criticized New York’s decision to temporarily halt approvals for new large-scale data centers.

President Donald Trump ‘s One Big Beautiful Bill Act cost the clean energy, manufacturing and industrial sector $82.8 billion through cancellations and delays in the U.S.

Vice President JD Vance warned that artificial intelligence (AI) could unleash major economic growth but said workers must have a role in shaping the distribution of wealth created by the technology.

Former House Speaker Nancy Pelosi criticized President Donald Trump and congressional Republicans, arguing that their budget priorities favor military spending over addressing the financial challenges facing American families.

Chinese President Xi Jinping voiced China’s readiness to pursue greater openness and practical action in AI development.

He stressed the importance of international cooperation, stating that AI development should not be a "solo performance" by a single country, but a "symphony of global collaboration," the South China Morning Post reported.

Software, Technology & Network ’s (NASDAQ: GOOG ) (NASDAQ: GOOGL ) Gemini 3.5 Pro has slipped by several months as engineers work to improve the model’s capabilities, particularly in coding—an area where rivals like OpenAI and Anthropic have taken a clear lead.

International Business Machines Corporation (NYSE: IBM ) pre-announced its preliminary second-quarter results, revealing earnings of $2.93 per share, far lower than the consensus estimate of $3.02.

The company reported revenue of $17.2 billion against a Street estimate of $17.9 billion, leading to a significant drop in share price earlier this week.

Microsoft Corp. (NASDAQ: MSFT ) has reportedly instructed its sales team on Tuesday to position in-house AI models above rival offerings from OpenAI, Google and Anthropic, as part of a fiscal 2027 strategy session.

3M Company (NYSE: MMM ) shares are trading higher on Wednesday as the company announced a strategic partnership with Microsoft to enhance AI data center infrastructure.

Oracle Corporation (NYSE: ORCL ) is reportedly leading the race to provide high-security cloud services to Japan.

This move is crucial for secure intelligence sharing between Tokyo and its allies.

Nokia Corporation (NYSE: NOK ) disclosed the industry’s first commercial AI-RAN platform, enabling operators to move toward AI-native networks.

Ericsson (NASDAQ: ERIC ) reported weaker-than-expected second-quarter revenue numbers, shrinking margins in its core Networks division, and a cautious outlook.

Stripe and Advent International have reportedly proposed a joint acquisition of PayPal Holdings Inc (NASDAQ: PYPL ) in a deal valued at over $53 billion.

Meta Platforms Inc (NASDAQ: META ) has been sued by some employees who claim the company’s AI-assisted systems disproportionately affected workers with disabilities and those who took protected medical or family leave during its latest layoffs, allegations the company has denied.

Meta has significantly ramped up its investment in the Hyperion data center project in Louisiana.

The project’s cost now surpasses a whopping $50 billion.

Nuburu, Inc. (AMEX: BURU ) announced a proposed public offering that is expected to be priced above the current market price.

Semiconductors & Equipment Taiwan Semiconductor Manufacturing Co. (NYSE: TSM ) revenue climbed to $40.2 billion in the second quarter, landing at the high end of guidance and comfortably ahead of Wall Street expectations.

The growth was powered by relentless demand for AI processors, which pushed net profit to a record near $22 billion and lifted gross margins to 67.7%, topping management’s own forecast.

Taiwan Semiconductor will pour an extra $100 billion i nto its Arizona facilities to cater to the burgeoning customer demand.

Nvidia Corp. (NASDAQ: NVDA ) has reportedly slashed the number of approved AI chip buyers across parts of Asia after introducing stricter compliance measures designed to prevent its advanced processors from reaching China.

SemiLEDS Corporation (NASDAQ: LEDS ) revealed a significant increase in revenue, reaching $9.1 million for the third quarter, compared to just $1.1 million in the previous quarter.

This is driven by higher buy-sell equipment orders.

ASML Holding N.V. (NASDAQ: ASML ) reported stronger second-quarter results and raised its full-year 2026 outlook, citing robust demand for advanced chipmaking equipment fueled by artificial intelligence investments.

ASML CEO Christophe Fouquet revealed that Intel Corporation (NASDAQ: INTC ) is already producing commercial chips using the company’s most advanced lithography system, calling the achievement "a very important milestone." CoreWeave Inc. (NASDAQ: CRWV ) is reportedly exploring the use of financial derivatives to hedge against future declines in memory and storage chip prices.

Aehr Test Systems Inc. (NASDAQ: AEHR ) reported fiscal fourth-quarter results that topped Wall Street estimates and issued fiscal 2027 revenue guidance well above expectations.

Samsung Electronics Co. (OTC: SSNFL ) is accelerating the launch of its first semiconductor fabrication plant in Yongin to 2029, moving up the timeline by one to two years as demand for AI memory chips continues to surge.

Broadline Retail, Entertainment & Smartphones GameStop Corp. (NYSE: GME ) CEO Ryan Cohen is doubling down on plans to acquire eBay Inc. (NASDAQ: EBAY ), a target roughly five times GameStop’s market value, despite eBay rejecting its $56 billion offer in May.

Google Cloud and Intel Corp. (NASDAQ: INTC ) expanded their long-running strategic partnership, deepening the integration of artificial intelligence across Intel’s engineering, business and chip design operations.

Netflix Inc. (NASDAQ: NFLX ) co-CEO Ted Sarandos reaffirmed the streaming giant’s long-standing preference for building and partnering over large-s