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Material Announcements December 22nd - 29th 2025

Global Top 50 Technology Companies | December 2025
File
Rank Date Company Announcement Type Key Details Market Impact Source URL
1 Dec-24 NVIDIA (NVDA) M&A - Strategic Licensing $20B licensing deal with Groq; CEO Jonathan Ross and 90% of staff joining NVIDIA; Groq specialized in LPUs for AI inference; Structured as non-exclusive license to avoid antitrust; Groq continues with new CEO Largest NVIDIA deal ever (prior $6.9B); 3x premium over Sept valuation; Stock +1.0%; Bernstein: removes last bear case; Solidifies inference market dominance alongside training; Eliminates emerging competitor https://www.cnbc.com/2025/12/24/nvidia-buying-ai-chip-startup-groq-for-about-20-billion-biggest-deal.html
2 Dec-23 ServiceNow (NOW) M&A - Largest Acquisition $7.75B acquisition of Armis (cybersecurity); $340M ARR, 50%+ growth; 35% of Fortune 100 customers; Completes $12B+ 2025 M&A spree; McDermott contract extended to 2030; 5-for-1 split Dec 18 Stock -3% on concerns; CFO: no more security M&A; Security ACV crossed $1B Q3; Keybanc downgrade citing AI seat reduction risk; Cybersecurity spending +12.5% 2026 to $240B https://www.cnbc.com/2025/12/23/servicenow-armis-cybersecurity-acquisition.html
3 Dec-22 Tesla (TSLA) Financial Performance Record $498.83 high Dec 22; $1.6T market cap; 2025 deliveries 1.65M (-7.7% YoY) - first decline ever; FSD: 1.5M miles/intervention; Cybercab production Q2 2026; Energy segment now profit engine ARK sold $29.7M for rebalancing; +45% YTD then -4.5% final week; Market values as AI/energy vs auto; First delivery contraction raises scaling questions; P/E 329 vs auto single digits https://markets.financialcontent.com/wral/article/marketminute-2025-12-26-teslas-16-trillion-ascent-ai-ambitions-and-energy-surge-drive-record-2025-year-end-rally
4 Dec 22-29 Alphabet (GOOGL) Performance Leadership Best Mag 7: +62% YTD vs S&P 500 +16%; P/E ~30 suggesting upside; Gemini Deep Research launched; Google Cloud $15.15B Q3 (+34%); $15B India AI hub investment; Outperformed all peers Only Mag 7 translating AI to outperformance; TPU differentiation vs NVIDIA-dependent peers; Proves AI monetization while peers face ROI questions; Clear infrastructure winner vs spenders https://fortune.com/2025/12/17/microsoft-apple-meta-and-amazons-stocks-are-lagging-the-sp-500-this-year-but-google-is-up-62-and-ai-investors-think-it-has-room-to-run/
5 Dec 22-29 Microsoft (MSFT) Product Updates Security Copilot free for E5 customers (Nov 18); 12 new AI agents; M365 promotions extended to June 2026; FY26 capex $140B (+58%); Azure $75B FY25 (+34%); AI revenue $13B (+175%) Stock +16.6% YTD below expectations; Backlog growth 6.5% vs Oracle's 400%+; OpenAI concentration concern; Co-opetition with Oracle for capacity; Part of $380B hyperscaler capex https://learn.microsoft.com/en-us/partner-center/announcements/2025-december
6 Dec 22-29 Amazon (AMZN) Performance Analysis Worst Mag 7: +5.5% YTD; AWS $33B Q3 (+20%) slowest growth; Azure +40%, Google Cloud +34%; 14K workforce cuts Oct; India hiring continues; $380B+ capex commitment Significant underperformance despite market leadership; Growth divergence vs Azure/Google Cloud concerning; Market questions AWS investment ROI; Losing AI infrastructure wallet share to focused competitors https://www.cnbc.com/2025/10/31/tech-ai-google-meta-amazon-microsoft-spend.html
7 Dec 22-29 Apple (AAPL) Leadership Transition Cook stepping down early 2026 per FT; Ternus (SVP Hardware) successor; Key design talent to Meta; Smart glasses in development; +10% YTD; Briefly $4T market cap; Post-Cook transformation Most significant change since Jobs era; Design talent losses concerning; Smart glasses race - playing catch-up; Cook tenure ending at AI/spatial computing inflection; Timeline uncertainty creates volatility https://finance.yahoo.com/news/apple-spent-2025-setting-itself-up-for-the-future--and-its-biggest-moves-werent-about-ai-211525196.html
8 Dec 22-29 Meta (META) Operations & Performance Stock +11.4% YTD below average; Reality Labs -$4.4B Q3 on $470M revenue; Superintelligence Labs created June 2025; India: 32K jobs added; SAM Audio model launched; 2 smart glasses products Oppenheimer compares to metaverse spending concerns; Dual AI/AR bets creating margin pressure; India surge vs US cuts shows geographic arbitrage; Market discounts pending monetization proof https://www.cnbc.com/2025/10/31/tech-ai-google-meta-amazon-microsoft-spend.html
9 Dec-26 Intel (INTC) Product Pipeline Panther Lake confirmed CES 2026; First 18A process chip; Xe3 graphics may surpass AMD; CEO Tan since March; +80% stock 2025; Nvidia $5B stake; Foundry orders expected from Apple/Broadcom/Google 2026 critical: profitability, technology validation, customer wins; Panther Lake make-or-break for foundry strategy; Yields 60-65% improving; Market pricing successful turnaround - high execution risk https://www.fool.com/investing/2025/12/29/will-intel-shock-the-world-in-2026/
10 Dec-29 Market Dynamics Year-End Trading Year-end de-risking for bonuses; NVIDIA -2.5%, Tesla -4.5%; Liquidity gap amplifying swings; Unemployment 4.6% (4-year high); Layoffs 1.17M (+54%); AI layoffs 50K+; Mag 7 dispersion widest: Google +62%, Amazon +5.5% January Effect may reverse; Q4 earnings reset AI ROI sentiment; Yardeni: shift to Impressive 493 from Mag 7; Market demands profits vs spending; Brutal labor: 1.17M cuts, geographic arbitrage accelerating https://www.financialcontent.com/article/marketminute-2025-12-29-the-great-de-risking-why-investors-are-cashing-out-of-nvidia-and-tesla-as-2025-concludes
10
Total Announcements
$39B+
Total Deal Value
7
Top 50 Global Tech Companies
6
Days Period

Global Top 50 Technology Stocks December 2025

File
Rank Company Ticker Country Market Cap (USD) Sector Key Business Notable
1 Nvidia NVDA USA $4.4T Semiconductors AI chips/GPUs for data centers and gaming https://World's most valuable company Nov 2025
2 Apple AAPL USA $4.0T Consumer Electronics iPhone, Mac, iPad, Services https://Second to reach $4T valuation
3 Microsoft MSFT USA $3.7T Software Windows/Azure cloud/Office/Gaming https://Largest software company
4 Alphabet (Google) GOOGL/GOOG USA $3.8T Internet Services Search/YouTube/Cloud/Android https://Approaching $4T on Gemini 3 success
5 Amazon AMZN USA $2.4T E-commerce/Cloud Online retail/AWS cloud services https://Leading cloud infrastructure provider
6 Meta Platforms META USA $1.3T Social Media Facebook/Instagram/WhatsApp/VR https://Leading social network platforms
7 Broadcom AVGO USA $1.7T Semiconductors Custom AI chips/networking/software https://Key Google TPU partner
8 Taiwan Semiconductor TSM Taiwan $1.0T Semiconductors Chip manufacturing foundry https://Makes chips for Nvidia/Apple/AMD
9 Tencent 0700.HK China $730B Internet Services WeChat/Gaming/Social media https://Largest Chinese tech company
10 Oracle ORCL USA $330B Enterprise Software Database/Cloud/ERP software https://Major cloud infrastructure player
11 Samsung Electronics 005930.KS South Korea $320B Consumer Electronics/Semi Smartphones/Memory chips/Displays https://Global electronics conglomerate
12 ASML ASML Netherlands $300B Semiconductor Equipment Lithography machines for chipmaking https://Critical EUV technology monopoly
13 SAP SAP Germany $290B Enterprise Software ERP/Business software https://Largest European software company
14 Salesforce CRM USA $260B Enterprise Software CRM/Cloud applications https://Leading CRM platform
15 Adobe ADBE USA $240B Software Creative Cloud/Acrobat/Marketing https://Design and marketing software leader
16 Cisco CSCO USA $270B Networking Network equipment/Security https://Enterprise networking leader
17 Accenture ACN USA $240B IT Services Consulting/Technology services https://Global professional services
18 IBM IBM USA $265B IT Services/Software Cloud/AI/Consulting/Mainframes https://Enterprise IT and consulting
19 Texas Instruments TXN USA $195B Semiconductors Analog chips/Embedded processors https://Industrial semiconductor leader
20 Qualcomm QCOM USA $180B Semiconductors Mobile processors/5G/Licensing https://Smartphone chip leader
21 Intel INTC USA $125B Semiconductors PC/Server processors/Foundry https://Traditional CPU leader facing challenges
22 AMD AMD USA $225B Semiconductors PC/Server/AI processors https://Nvidia's main GPU competitor
23 Micron Technology MU USA $135B Semiconductors Memory chips (DRAM/NAND) https://Leading memory manufacturer
24 Applied Materials AMAT USA $150B Semiconductor Equipment Chip manufacturing equipment https://Key semiconductor toolmaker
25 Lam Research LRCX USA $125B Semiconductor Equipment Wafer fabrication equipment https://Semiconductor manufacturing tools
26 Palantir PLTR USA $400B Software Data analytics/AI platforms https://Government and enterprise analytics
27 ServiceNow NOW USA $210B Software IT service management/Workflow https://Enterprise workflow automation
28 Intuit INTU USA $220B Software TurboTax/QuickBooks/Credit Karma https://Financial software for consumers/SMBs
29 Uber UBER USA $195B Transportation Tech Ride-hailing/Food delivery https://Leading mobility platform
30 Snowflake SNOW USA $60B Software Cloud data warehouse https://Modern data cloud platform
31 Dell Technologies DELL USA $135B Hardware/Services PCs/Servers/Storage https://Leading enterprise hardware provider
32 HP Inc HPQ USA $45B Hardware PCs/Printers https://Consumer and business PCs
33 Palo Alto Networks PANW USA $135B Cybersecurity Network security/Cloud security https://Cybersecurity leader
34 CrowdStrike CRWD USA $125B Cybersecurity Endpoint security/Threat intelligence https://Cloud-native security platform
35 Arista Networks ANET USA $130B Networking Data center networking/Cloud https://High-performance networking
36 Synopsys SNPS USA $110B Software Electronic design automation https://Chip design software
37 Cadence Design CDNS USA $100B Software Electronic design automation https://Chip design and verification
38 Workday WDAY USA $75B Software HR/Financial management cloud https://Cloud enterprise software
39 Autodesk ADSK USA $75B Software CAD/3D design/Engineering https://Design and engineering software
40 NetApp NTAP USA $35B Storage Data storage/Cloud infrastructure https://Enterprise storage solutions
41 Shopify SHOP Canada $130B E-commerce E-commerce platform for merchants https://Enabling small business e-commerce
42 Booking Holdings BKNG USA $180B Travel Tech Online travel booking (Booking.com) https://Leading online travel platform
43 Airbnb ABNB USA $90B Travel Tech Vacation rental marketplace https://Alternative accommodation platform
44 Zoom Video ZM USA $25B Software Video conferencing/Communications https://Video communications platform
45 DocuSign DOCU USA $15B Software Electronic signature/Contract mgmt https://Digital agreement platform
46 Datadog DDOG USA $50B Software Cloud monitoring/Analytics https://Infrastructure monitoring
47 Zscaler ZS USA $45B Cybersecurity Cloud security/Zero trust https://Cloud security platform
48 MongoDB MDB USA $40B Software Database (NoSQL) https://Modern database platform
49 Fortinet FTNT USA $80B Cybersecurity Network security/Firewall https://Integrated security platform
50 Marvell Technology MRVL USA $95B Semiconductors Data infrastructure chips https://Storage and networking semiconductors
Notes:
- Market caps are approximate as of December 1 2025 and fluctuate daily
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The watch list is for informational purposes only and that does not actually represent the actual assets of the Fund

While technology and the innovation that surrounds new technologies has been the flavor of recent years, it has been an area of vast opportunity for decades.

Now, with the world having entered the digital age, digital transformation across all industries is of paramount focus for all boards and CEOs.

This is producing unprecedented opportunities for investors through identifying both successful disruptors and industries where there is significant disruption to traditional means of conducting commercial activities.