AMD $8.4B AI Sales, Palantir $1B Revenue, OpenAI Chip Use

Several companies are making significant strides in the AI space. AMD, while experiencing mixed Q2 results and concerns about Chinese market access due to export restrictions, anticipates a strong third quarter driven by AI sales, projecting revenue between $8.4 billion and $9 billion. They are developing the MI350 line to compete with Nvidia, and OpenAI's Sam Altman plans to use AMD's new AI chips expected next year. Palantir achieved its first $1 billion revenue quarter, fueled by AI, with a 48% revenue increase year-over-year and a 33% profit increase to $327 million. The company plans to reduce staff through AI-driven automation and is seeing increased demand for its AI platform (AIP). Other companies are also leveraging AI in various sectors. Glassbox received investment to boost AI analytics for finance, while Daloopa secured $13 million to enhance AI in finance by connecting LLMs with financial data, integrating with Claude and OpenAI. Tortoise Capital launched the Tortoise AI Infrastructure ETF (TCAI), focusing on infrastructure supporting AI, and Etsy is shifting to AI-powered search optimization due to declining sales. In India, Wyser launched AgentikX, an AI investment program for enterprise B2B startups, investing between $150,000 to $500,000 per startup. However, not all companies are thriving; Kyndryl's stock plunged after a disappointing earnings report, despite improvements in profitability.

Key Takeaways

• AMD projects strong Q3 revenue ($8.4-9B) due to AI sales, despite mixed Q2 results and China market concerns.
• AMD is developing MI350 AI chips to compete with Nvidia, with OpenAI planning to use their new chips.
• Palantir achieved its first $1B revenue quarter, driven by AI, with a 48% year-over-year revenue increase.
• Palantir plans to reduce staff through AI automation and sees increased demand for its AI platform (AIP).
• Glassbox received investment to expand AI analytics for financial services.
• Daloopa secured $13M to enhance AI in finance, integrating with Claude and OpenAI.
• Tortoise Capital launched the Tortoise AI Infrastructure ETF (TCAI), focusing on AI infrastructure.
• Etsy is shifting to AI-powered search optimization due to declining sales.
• Wyser launched AgentikX, an AI investment program in India, investing $150K-$500K per startup.
• Kyndryl's stock plunged after a disappointing earnings report, despite profitability improvements.

AMD's AI sales boost outlook despite mixed Q2 results

AMD reported mixed results for the second quarter but expects a better third quarter because of AI sales. The company predicts revenue between $8.4 billion and $9 billion, which is more than what Wall Street expected. Despite the positive outlook, AMD's stock fell slightly. AMD also mentioned that a ban on selling its MI308 AI chips to China had a negative impact. However, the company should benefit from its new MI350 line of AI chips, which are designed to compete with Nvidia's chips.

AMD's AI forecast strong but China concerns linger

AMD warned that its return to the Chinese market is uncertain, overshadowing its positive AI sales forecast. The company didn't predict sales of its Instinct MI308 AI processor in China due to previous export restrictions. Although the Trump administration reversed the ban, licenses are still under review. CEO Lisa Su remains optimistic about the AI market, expecting billions in annual revenue. AMD's third-quarter sales are projected to be around $8.7 billion.

AMD earnings fall short despite revenue beat

AMD's quarterly earnings missed expectations, causing the stock to drop. However, the company's revenue was higher than expected. AMD is behind Nvidia in the GPU market, but companies like Meta and OpenAI are looking to AMD for alternatives. AMD announced new AI chips expected next year, with OpenAI CEO Sam Altman planning to use them. Export restrictions on some AI chips also affected AMD's revenue.

Palantir hits $1B in sales, plans staff cuts with AI

Palantir reached its first billion-dollar quarter, driven by artificial intelligence. The company's revenue increased by 48% compared to last year, with significant growth in both commercial and government sectors. Palantir plans to reduce staff by using AI to automate tasks. CEO Alex Karp emphasized AI's role in the company's productivity and warned the U.S. must continue to lead in AI technology.

Palantir's AI success drives first $1B quarter

Palantir Technologies, based in Denver, achieved its first $1 billion sales quarter, causing its stock to rise. The company specializes in software that analyzes large amounts of data using artificial intelligence. Palantir's profit increased by 33% to $327 million in the second quarter. CEO Alex Karp stated that AI is benefiting everyone, including blue-collar workers, and wants to equip them with AI skills.

Palantir raises outlook as AI fuels $1B revenue quarter

Palantir, a data intelligence company, increased its yearly forecast after quarterly revenue exceeded $1 billion for the first time. The company is benefiting from the growing use of artificial intelligence. CEO Alex Karp noted a significant increase in demand for their AI platform, AIP. Palantir's shares increased after the announcement.

Glassbox gets investment to boost AI analytics for finance

Glassbox, a digital experience analytics provider, received an investment from Poalim Equity to expand its AI capabilities for financial services. The funding will support the development of AI-powered analytics and fraud prevention tools. Bank Hapoalim, a long-time Glassbox customer, uses the platform to improve digital engagement. The investment aims to help financial institutions meet customer expectations for trust and speed.

Tortoise Capital launches AI infrastructure ETF TCAI

Tortoise Capital launched the Tortoise AI Infrastructure ETF (TCAI), which focuses on the infrastructure supporting artificial intelligence. The ETF invests in companies involved in electric power generation, data centers, and digital hardware. The fund targets key systems that enable AI, including energy, data centers, and technology. Tortoise Capital believes AI's growth presents a compelling investment opportunity in these areas.

Kyndryl stock plunges after disappointing earnings report

Kyndryl, an agentic AI company, experienced its worst day ever in the stock market after its recent earnings release. The company's revenue was lower than expected, causing the stock to drop significantly. Despite revenue challenges, Kyndryl showed improvements in profitability. The company maintains its fiscal 2026 guidance, but faces challenges in the IT services sector. Analysts have mixed opinions on whether the stock is a good buy.

Etsy shifts to AI search as sales decline

Etsy is changing its marketing strategy to focus on AI-powered search optimization due to declining sales. The company is reducing its reliance on TV ads and investing in AI to improve product discovery. Etsy updated its search algorithm to prioritize relevance and quality. Sellers are encouraged to optimize listings with high-quality images and detailed descriptions. The company hopes this shift will attract and retain shoppers.

Wyser launches AgentikX, India's AI investment program

Wyser launched AgentikX, India's first Agentic AI investment initiative for enterprise B2B startups. The program aims to identify, develop, and invest in startups that are changing the enterprise landscape. The top 10 startups will be selected for a specialized 5-day AgentikX Primer to accelerate their Go To Market strategy. Wyser will invest in 20-23 Enterprise Agentic AI companies, with investments ranging from $150,000 to $500,000 per startup.

Daloopa gets $13M to boost AI in finance

Daloopa received a $13 million investment to enhance AI in finance with accurate data. The company's Model Context Protocol (MCP) connects LLMs with financial data from nearly 4,700 public companies. This offers more data points and source traceability. Daloopa's platform is integrated with Claude and OpenAI, supporting AI workflows for financial firms. The company plans to expand AI research and product features.

Sources

• AMD posts mixed Q2 results, but offers better than expected Q3 outlook on AI sales
• AMD’s China Concerns Overshadow Upbeat Sales Forecast for AI
• AMD reports weaker-than-expected earnings even as revenue tops estimates
• Palantir's 'crazy, efficient revolution': First billion-dollar quarter brings plan to cut more staff because of 'the astonishing impact of AI leverage'
• Denver-based AI company books its first $1 billion in quarterly sales and dodges DOGE axe
• Palantir lifts outlook as AI boom sends quarterly revenue to $1bn
• Glassbox Secures an Investment from Poalim Equity to Expand AI-Driven Experience Analytics in Financial Services
• Tortoise Capital Launches the Tortoise AI Infrastructure ETF (NYSE: TCAI), Providing Access to the Foundational Infrastructure Powering the AI Revolution
• 1 Agentic AI Stock Getting Crushed for Its Worst Day Ever After Earnings
• Etsy Pivots to AI Search Optimization Amid Sales Decline
• Wyser launches AgentikX, India's first-ever Agentic AI Investment Initiative for Enterprise B2B Startups through its maiden fund
• Daloopa Receives $13M Strategic Investment to Power the Next Generation of AI in Finance with the Most Accurate and Complete Data Infrastructure