Vault Ventures signs co-design partnerships for quantum platform

Quantinuum (QNT) shares fell Wednesday as the Honeywell-backed firm neared its Nasdaq debut, with pricing set for June 3 and first trading expected June 4. The company plans to sell 26.5 million shares at $53–$55 to raise about $1.46 billion, valuing it at up to $14.3 billion, according to the report. Other quantum stocks also declined.

Lockheed Martin (LMT) stock rose 31.7% over the past year, outpacing the S&P 500. The company is expanding its missile production capacity, with the Missiles and Fire Control segment reporting a 24% increase in sales and profit in fiscal Q3 2026. Lockheed is investing $300 million to expand its Texas operation and has a record backlog of $292 billion, including a $58.6 billion PAC-3 interceptor deal.

Alibaba, Tencent, and ByteDance are negotiating long-term server memory supply deals with Samsung and SK Hynix to address AI-driven shortages, according to South Korean media. Contracts may extend up to 10 years, with demand for DDR and LPDDR memory. Daishin Securities expects this to push memory prices higher. SemiAnalysis reports China has 24 GW of AI data center capacity, with more under construction.

Alphabet (GOOG, GOOGL) has developed its own AI chips, called tensor processing units (TPUs), and started selling them to external customers. The company reported $24 billion in Google Cloud revenue in Q2, with a $514 billion backlog. Analysts estimate TPU-related revenue could reach $3 billion this year and $25 billion next year, though most revenue is expected in 2027. Alphabet aims to leverage TPUs to control costs and diversify revenue streams.

Intel confirmed its Raptor Lake Next processors, revealed through internal test drivers and shipping manifests. Four models were detailed, with specifications including core counts, base frequencies, and cache sizes. The processors are expected to launch on the LGA 1700 platform, with production starting in August 2026.

Robinhood CEO Vlad Tenev stated the company aims to integrate prediction markets with its personal-finance offerings, investing in personalization and relevant content. Robinhood reported $173M in event contract revenue for Q3, up over six times year-over-year, with 16.4B contracts traded. Total revenue rose 12% YoY to $1.424B, beating expectations. Cryptocurrency transaction revenue fell 55% to $120M. Shares dropped 7.63% in after-hours trading.