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Jun 7, 2026 8:40 AM

Consumer Tech News (June 1-3): AI Demand Surge Prompts Big Earnings Beat, AI Can Steal Jobs & More

The Donald Trump administration is reportedly exploring whether the U.S. government should take ownership stakes in leading artificial intelligence companies, a move that comes days after Sen. Bernie Sanders (I-Vt.) unveiled a proposal calling for public ownership of major AI firms.

Sen. Elizabeth Warren (D-Mass.) has invited Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang to testify before the Senate Banking Committee next week.

Former Vice President Mike Pence said artificial intelligence (AI) policy should balance limited government oversight with strong free-market competition to ensure U.S. leadership in emerging technology.

Canadian Prime Minister Mark Carney has put a stop to a regulation that would have required U.S. streaming services such as Netflix Inc. (NASDAQ:NFLX), Amazon.com‘s (NASDAQ:AMZN) Prime and The Walt Disney Company‘s (NYSE:DIS) Disney+ to invest billions in Canadian television.

Software & Technology

Microsoft (NASDAQ:MSFT) has accelerated its quantum computing ambitions, announcing plans to deliver a commercially useful, scalable quantum computer by 2029.

ServiceTitan, Inc. (NASDAQ:TTAN) announced its fiscal first-quarter 2027 financial results, highlighting strong customer performance and growth initiatives.

Palo Alto Networks Inc. (NASDAQ:PANW) reported fiscal third-quarter 2026 results, beating Wall Street expectations on revenue and earnings while raising its full-year outlook.

Solidion Technology Inc. (NASDAQ:STI) announced its patented Generation Extreme-Climate Battery (Gen-ECB) platform.

Samsara Inc. (NYSE:IOT) reported adjusted earnings of 17 cents per share, beating analyst estimates of 13 cents. Revenue climbed 31% year over year to $478.8 million, exceeding the consensus estimate of $455.2 million. On a constant-currency basis, revenue increased 29%.

Guidewire Software Inc.  (NYSE:GWRE) reported quarterly adjusted earnings of 82 cents per share, which beat the 74 cent analyst estimate

Quarterly revenue came in at $372.54 million, which beat the Street estimate of $355.95 million.

Planet Labs PBC (NYSE:PL) reported quarterly losses of three cents per share, which beat the analyst consensus estimate for losses of four cents. Revenue came in at $94.15 million, which beat the Street estimate of $89.85 million.

Rubrik Inc. (NYSE:RBRK) reported quarterly earnings of 16 cents per share, which beat the analyst consensus estimate for a loss of three cents. Revenue came in at $387.07 million, which beat the Street estimate of $366.3 million.

Quantinuum Inc. (NASDAQ:QNT) raised $1.68 ...