Larry Dignan

Alphabet initially wanted to raise $80 billion for AI infrastructure via equity offering. Instead it raised $85 billion. Here's a look at the transcript and deck as pitched to investors.

SpaceX is pricing for $135 a share looking to raise close to $2 trillion in its market debut.

In its latest update, SpaceX said it is offering 555,555,555 of its Class A common stock at $135 each. Elon Musk will hold 84.2% of SpaceX after the IPO.

I updated my previous take on the financials: SpaceX's IPO: Do you believe in space data centers, xAI's potential?

A UserTesting report has some damning findings when it comes to software updates. In fact, we hate them.

According to a survey from UserTesting, there's widespread anxiety and frustration with software updates. A few findings:

• 62% of Americans say OS updates disrupt their daily device usage.
• 53% say the same about app updates.
• 78% avoid changing anything on their devices unless absolutely necessary.
• 15% put off updates until forced to install them.
• 15% are concerned updates will add unwanted AI features.

Coupa and the MIT Data Science Lab published the 2026 Business Spend Index Report using Coupa's data on actual business spending. The index is designed to be an economic indicator that is predictive.

According to Coupa and MIT, the BSI caught an April spending pullback before surveys. Current findings include:

• Procurement spend in technology, financial services and healthcare and life sciences are expected to contract over the summer.
• Technology procurement spend has climbed 40% since mid-2024 to a four-year high.
• Enterprise AI demand appears to be catching up to the AI infrastructure build-out.

UKG named Rod Johnson, a former Oracle executive, Chief Revenue Officer. Johnson will report to CEO Jennifer Morgan. Johnson previously served as EVP of North America Applications at Oracle.

Knowledge at Wharton has a good post on whether AI is killing UX. The post is worth a read given that UX is allegedly disappearing and being replaced with an all-encompassing chat interface.

The authors, Scott A. Snyder, a senior fellow at the Wharton School and author of Your AI Life, and Mike Welsh, chief storyteller at Bridgenext and author of The Backstory on Storytelling, write:

"The more AI accelerates the making of experiences, the more important it becomes to understand who those experiences are for. We can generate customer journeys, personas, screens, content, and front-end code faster than ever. None of that guarantees we have understood the end user’s moment or the context around it and the emotion underneath it.

So the question is not really whether AI is killing user experience (UX). The better question is whether AI is exposing the parts of UX that organizations have been treating as optional."

Alphabet said it will raise $80 billion in equity to fund AI infrastructure. The offering consists of $30 billion in Class A and Class C shares and $40 billion in at-the-market offerings where Alphabet will sell stock beginning in the third quarter. The remaining $10 billion is a private placement with Berkshire Hathaway.

The details are here. A few thoughts:

• This equity offering is huge, but Alphabet has Google and Google Cloud as well as a real business delivering results.
• The timing of this equity offering lands as there are three IPOs coming that will likely suck up capital.
• Alphabet was smart to bring in Berkshire Hathaway.
• Nevertheless, Alphabet shareholders are going to see dilution ahead.

D-Wave Quantum is spreading its bets on quantum computing systems. The company is best known for its annealing systems, but now is launching a roadmap for gate-model systems.

Quantum computing has multiple flavors and it's unclear which technology will win out. Most experts are betting on superconducting systems. What's interesting is that D-Wave is among the first pure play quantum plays to target two platforms.

D-Wave said it will target 100 logical qubits able to perform more than 1 million operations by 2032.

Here's D-Wave's roadmap:

Intel is taking aim at more efficient AI inference. At Computex, Intel outlined the following:

• Intel Xeon 6+ processors with efficient cores.
• Intel expanded its 800 Series Ethernet lineup with Intel Ethernet E835 controllers and network adapters, scaling up to 200GbE. The goal is to reduce AI networking bottlenecks.
• The chipmaker is looking to attract small and mid-sized businesses with a new 12-core Xeon 6300 series for entry level servers.
• Intel teased its Crescent Island GPU, which is designed for agentic systems and their power and memory bottlenecks.

Given Intel's recent comeback amid the CPU renaissance, it's worth noting the new products. But Intel remains a prove it story and it's unclear whether it can fend off Arm's encroachment in the data center and PC.

• Intel Q1 better than expected, aims for CPU renaissance
• Arm and the CPU renaissance
• Nvidia's Vera CPU, DGX Station, Windows PCs all go to the same place: AI agents running locally

In my recap of Nvidia's Computex launches, there were a few big names supporting Vera CPUs missing. Nvidia said:

"Global AI labs planning to adopt Vera to transform their AI factories include Anthropic, OpenAI and SpaceXAI, and hyperscalers ByteDance, CoreWeave and Oracle Cloud Infrastructure."

Hmm. Where's Google Cloud, AWS and Microsoft Azure? The latter will come at Microsfot Build most likely.

All the hyperscalers will support Vera just like they do every other CPU, but the reality is they have their own custom silicon. Also worth noting that Nvidia compared Vera CPUs to x86 options. How does it compare to Arm-based options?

Asana said it will acquire StackAI, a no-code AI workflow platform that connects ERP, CRM and ITSM systems to automate processes. Terms of the deal weren't disclosed.

UiPath's first quarter featured its first ever net profit and revenue growth of 17%.

The company reported first quarter net income of $22.52 million, or 4 cents a share, on revenue of $418.4 million, up 17%. Non-GAAP earnings were 15 cents a share, a penny short of estimates. Revenue topped estimates.

The second quarter and fiscal 2027 revenue outlook was above estimates. UiPath is targeting fiscal 2027 revenue of $1.776 billion to $1.781 billion.

UiPath's earnings call takeways were:

• A six month old FDE program is faring well.
• UiPath cited multiple customer and use case examples.
• Analysts were generally neutral to slightly skeptical and were concerned that ARR growth trailed revenue growth. Concerns revolved around AI revenue vs core robotics process automation.

CEO Daniel Dines said:

"Customers are no longer asking us simply to deploy more agents or generate more code. They are asking us to transform our entire business functions operate through end-to-end workflows that span departments, connect systems and deliver measurable operational outcomes. And delivering that kind of transformation requires more than individual AI agents. It requires a platform that can orchestrate agents, automation, APIs, systems and people together within secure, governed enterprise workflows."