Angela Nganga — Troca de Cadeira

Chevron (CVX) reported strong Q2 results, but its 20-year power purchase agreement with Microsoft (MSFT) for an AI data center in Texas is seen as more significant. The deal secures long-term revenue for Chevron, insulating it from commodity price volatility, while Microsoft ensures energy supply for its data center.

Microsoft reported Q4 2026 revenue of $90.01B, beating estimates, with Azure revenue surpassing $100B annually. Copilot reached 30M paid seats, and net income rose 31% to $35.8B. Capital expenditures increased 69% YoY to $41B, while free cash flow fell 23%. The stock surged 18% post-earnings, with a forward P/E of 25.

Microsoft's stock surged 15% on July 30, adding $450B in market value, after reporting $90B in Q2 revenue (up 17.7% YoY) and $4.74B net income (up 22.8%). Analysts give it a 'Strong Buy' rating with a $554.76 target. Oracle (ORCL) has lagged with a 22.1% YTD decline.

Google and Microsoft were in talks with Nscale for AI computing capacity, but the deal went to Anthropic for $45B. Nscale's Monarch campus, set to be one of the largest compute hubs, will support Anthropic's growth ahead of its IPO. Google and Microsoft cited internal reviews for not proceeding. Alphabet reported negative free cash flow due to increased infrastructure investment.

Microsoft (MSFT) received a BUY rating and $600 price target from 24/7 Wall St., citing 43% Azure growth and a $678B commercial RPO backlog. The stock is up 27.81% over the past month and 3.29% year-to-date, with Q4 FY26 revenue of $90.01B and non-GAAP EPS of $4.74. The target implies 18.9% upside, potentially pushing market cap to $5T. Bulls highlight demand outpacing supply, while bears note capital intensity and declining PC revenue.

XBOX is reportedly offering a package of 13 game IPs, including Elder Scrolls, Diablo, and Halo, to Hollywood studios for a $300m deal. Interested parties include Universal, Paramount, and Netflix. XBOX seeks a long-term partnership to adapt its games into films and TV shows, despite recent layoffs and mixed success with past adaptations.