Sandisk closed Wednesday at $1,350.50, down 5.4% on the session, then traded down toward $1,257 after the fiscal fourth quarter release. The stock is up roughly 490% year to date and has been the best performer in the S&P 500 in 2026. Its fifty-two week range runs from $40.53 to $2,354.39, the high set on June 22. Market capitalization sits near $200 billion on 148.1 million shares outstanding, with a beta of 4.

Meta reported second-quarter revenue of $60.8 billion, up 28% year over year, family daily active people of 3.6 billion on average for June, up 3%, and guided third-quarter revenue below consensus. The stock fell more than 8% after hours. Underneath the headline sit three numbers that explain the reaction better than the guide does: $2.4 billion in charges related to legal proceedings, $1.18 billion in severance connected to the May layoff of about 8,000 staff, and free cash flow of $784 million, down 91%.

Microsoft reported fourth-quarter capital expenditure of $41 billion, up 70% year over year, and simultaneously lowered its 2026 capex forecast to $175 billion from $190 billion. The company was explicit that spending plans have not changed. An accounting change did. That combination deserves more attention than it will get, because a $15 billion reduction in a guidance figure that everyone on the street uses as a proxy for compute added is not a reduction in compute added.

Roughly 180 items crossed the wire in the last twenty-four hours. Strip out the translated duplicates, the earnings-date notifications, the investor-conference attendance notices, and the vendor testimonial campaigns, and perhaps a dozen carry actual information. Those dozen cluster around three themes: the memory cycle acquiring a short side, the physical limits of data center expansion, and the widening distance between how capable AI systems have become and how safe their output is.

Integral Privacy Technologies has raised $25 million in total funding, with backing from Venrex, The General Partnership, Array Ventures, GreatPoint Ventures, LiveRamp Ventures, Haystack, Virtue Ventures, Also Capital, Caffeinated Capital, LifeX Ventures, Circle & Co, and WS Investments. The round is aimed at scaling what the company calls its Forward Deployed Privacy Services — a service layer meant to make sensitive real-world data usable for AI training without triggering the regulatory and re-identification risks that normally keep that data locked away.