The net return objective to the investor is 10.0% pa through capital growth over rolling five-year periods.
IPE Top 10 Material Announcements August 31 September 7 2026
Global Top 50 Technology Companies | September 2026
File
| Rank | Date | Company | Ticker | Announcement_Type | Summary | IPE_Relevance | Market_Impact | Source_URL |
|---|---|---|---|---|---|---|---|---|
| 1 | 2-Sep-26 | Broadcom | AVGO | Q3 FY2026 Earnings | Reported record Q3 FY2026 revenue with AI-related revenue up 221% YoY to $16.7bn; guided FY2027 AI revenue to ~$115bn and FY2028 to ~$230bn, resolving the prior week's open question over its escalating AI-chip debt financing talks | Watchlist-adjacent name; directly validates the Infrastructure > Software thesis underpinning the AMD position and confirms the scale of the debt-funded AI capex flagged last week | Shares rallied on the beat and the multi-year AI revenue guide; one of the largest single-week confirmations of AI-infrastructure demand this year | https://investors.broadcom.com/news-releases/news-release-details/broadcom-inc-announces-third-quarter-fiscal-year-2026-financial |
| 2 | 3-Sep-26 | Nvidia | NVDA | M&A / Acquisition | Confirmed acquisition of open-weight AI hub Hugging Face for almost $13bn (~86x sales), its largest deal ever; platform (3m+ models, 18m users) to continue operating openly with no hardware requirement, deal closing H1 2027 | Watchlist-adjacent name; consolidates Nvidia's grip on the open-source AI developer ecosystem that AMD and other silicon comparables compete to reach | Nvidia shares edged higher on confirmation; flagged as one of the largest AI-platform acquisitions of the year | https://blogs.nvidia.com/blog/nvidia-to-acquire-hugging-face/ |
| 3 | 31-Aug/1-Sep-26 | Nvidia / MediaTek | NVDA/2454.TW | Strategic Investment | Nvidia agreed to invest $3.5bn in Taiwanese chip designer MediaTek (also acquiring ~90% of a related bond issue) as part of its NVLink Fusion push into custom AI silicon | MediaTek is a new entrant in IPE's Global Top 50 (Infrastructure tag); deal reinforces the AI-infrastructure buildout thesis shared with the AMD and Broadcom positions | MediaTek shares jumped roughly 10% on the news | https://www.cnbc.com/2026/09/01/nvidia-deal-mediatek-shares.html |
| 4 | 2-Sep-26 | Uber | UBER | Restructuring / Strategy | Announced cuts of 10% of its workforce (~3,300 roles) to fund a $10bn+ push into autonomous vehicles, while simultaneously lobbying for an 85% human-driver minimum in New Jersey even as Waymo runs ~4,000 unsupervised robotaxis to Tesla's 200+ | Not an IPE holding; direct read-through for the Tesla/Waymo autonomous-vehicle race and the broader AI-infrastructure-into-real-world-deployment narrative | Uber shares little changed; Tesla fell almost 6% on the same day amid the intensifying robotaxi competition framing | https://techcrunch.com/2026/09/02/uber-is-laying-off-10-of-staff-or-3300-people/ |
| 5 | 2-Sep-26 | Snowflake | SNOW | Q2 FY2027 Earnings | Beat estimates and raised its full-year product-revenue forecast as AI-driven products pushed growth to a third consecutive quarter of acceleration (~37% YoY) | Not an IPE holding; enterprise data/AI-platform comparable alongside Palantir and the broader Software/SaaS coverage tags | Shares jumped roughly 22-24% on the beat and raise, among the largest single-day moves of the week | https://www.cnbc.com/2026/09/02/snowflake-snow-q2-earnings-report-2027.html |
| 6 | 2-Sep-26 | MongoDB | MDB | Q2 FY2027 Earnings | Beat every estimate and raised full-year guidance (revenue +30% YoY, Atlas contracted future revenue +91% to $1.52bn, operating margin 24%), but flagged slower Q3 growth ahead | Not an IPE holding; database/cloud-infrastructure comparable illustrating how quickly 'beat and raise' prints are being punished on forward-growth nerves | Shares fell roughly 13.6-15% despite the beat, one of the sharper post-earnings drops of the week | https://247wallst.com/investing/2026/09/02/mongodb-beat-every-estimate-and-raised-guidance-then-lost-13-6-in-a-single-session/ |
| 7 | 3-Sep-26 | Moonshot AI | Private (pre-IPO) | IPO Filing | Beijing AI lab (backed by Alibaba and Tencent) confidentially filed for a Hong Kong IPO seeking roughly $3bn at a ~$50bn valuation, signalling China's frontier AI labs are reaching public markets faster than US peers | Not an IPE holding; extends the AI-IPO wave theme flagged with SpaceX's June listing and is relevant to RICHDAWN's speculative-tech mandate | No listed shares to react; filing itself read as a milestone for Chinese AI-sector capital access ahead of US rivals OpenAI/Anthropic | https://www.rte.ie/news/business/2026/0903/1590165-ai-firm-moonshot-files-confidentially-for-hong-kong-ipo/ |
| 8 | 3-Sep-26 | Alphabet (Google) | GOOGL | Product Launch | Launched Gemini 3.8 Flash at $0.75 per million input tokens, alongside a restricted 'Gemini 3.8 Flash Cyber' variant with cybersecurity capabilities limited to trusted governments and critical-infrastructure operators | Not an IPE holding; Cloud/Hyperscale comparable and part of the broader AI-model price-war dynamic also reflected in this week's token-pricing story | Limited immediate share reaction; positions Google competitively on price against cheaper Chinese open-source models | https://techstartups.com/2026/09/03/top-tech-news-today-september-3-2026-google-hugging-face-meta-moonshot-ai-nvidia-more/ |
| 9 | 3-Sep-26 | Meta Platforms | META | Product Launch | Released Muse Spark 1.3, a coding/AI-agent model explicitly targeting cost-efficient inference rather than maximum capability, positioning Meta to compete on 'AI economics' rather than benchmark scores | Not an IPE holding; Consumer Tech/AI Platforms comparable and a direct response to the same token-price compression affecting the whole sector this week | Limited immediate share reaction; framed as a defensive economics play against cheaper open-source and Chinese models | https://techstartups.com/2026/09/03/top-tech-news-today-september-3-2026-google-hugging-face-meta-moonshot-ai-nvidia-more/ |
| 10 | 1-4-Sep-26 (ongoing) | Sector-wide (Microsoft proxy) | MSFT | Market / Pricing Trend | AI model token prices hit a record low of $0.97 per million, less than half summer highs, driven by cheaper Chinese open-source models and price cuts from major labs; squeezes AI service-provider margins and complicates IPO pitches for OpenAI and Anthropic | Not an IPE holding; macro read-through for the AI-infrastructure-vs-AI-application margin debate central to the Infrastructure > Software thesis | Microsoft fell around 2% on the week amid the margin-compression read-through for AI service providers | https://www.fool.com/investing/breakfast-news/2026/09/04/breakfast-news-week-in-review/ |
10
Total Announcements
$39B+
Total Deal Value
7
Top 50 Global Tech Companies
6
Days Period
Global Top 50 Technology Stocks September 2026
File
| Rank | Company | Ticker | Country | Sep Market Cap | Aug Market Cap | Month Change | Sector | IPE Sector Tag | Key Business | Notable |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nvidia | NVDA | USA | $5.562T | $5.215T | 6.70% | Semiconductors | Infrastructure | AI chips/GPUs for data centres | Extended its lead after a record Q2; confirmed its largest-ever acquisition (Hugging Face, ~$13bn) and a $3.5bn MediaTek investment this week |
| 2 | Apple | AAPL | USA | $4.669T | $4.543T | 2.80% | Consumer Electronics | Consumer Tech | iPhone/Mac/iPad/Services | Steady gain into the 9-Sept iPhone event; one of the few mega-caps untouched by the AI-valuation jitters hitting software/semis |
| 3 | Alphabet (Google) | GOOGL | USA | $4.140T | $4.310T | -3.90% | Internet Services | Cloud/Hyperscale | Search/YouTube/Google Cloud/Android | Slight pullback despite launching Gemini 3.8 Flash; broader AI-pricing-war margin concerns weighed |
| 4 | Microsoft | MSFT | USA | $3.710T | $3.174T | 16.90% | Software | Cloud/Hyperscale | Windows/Azure/Office/Gaming | Continued its August Azure-led rally; still felt some pressure from this week's AI-token-price-collapse margin story |
| 5 | Amazon | AMZN | USA | $2.790T | $2.676T | 4.30% | E-commerce/Cloud | Cloud/Hyperscale | Online retail/AWS cloud services | Extended its AWS-and-Anthropic-driven gain from August |
| 6 | TSMC | TSM | Taiwan | $2.220T | $2.275T | -2.40% | Semiconductors | Infrastructure | Chip manufacturing foundry | Roughly flat; still digesting the $100bn Arizona expansion news from last month |
| 7 | Broadcom | AVGO | USA | $1.700T | $2.303T | -26.20% | Semiconductors | Infrastructure | Custom AI chips/networking | Gave back a chunk of August's rally even after a record Q3 (AI revenue +221% to $16.7bn, FY27/28 guide raised) — a 'sell the fact' move amid broader AI-capex jitters |
| 8 | Meta Platforms | META | USA | $1.570T | $1.577T | -0.40% | Social Media | Consumer Tech | Facebook/Instagram/WhatsApp/AI | Roughly flat; released the cost-efficient Muse Spark 1.3 model this week |
| 9 | Tesla | TSLA | USA | $1.400T | $1.589T | -11.90% | Automotive/AI | Consumer Tech | Electric vehicles/Autonomous driving | Fell on intensifying robotaxi competition after Uber's autonomous-vehicle pivot and layoffs announcement |
| 10 | Samsung Electronics | 005930.KS | South Korea | $1.298T | $1.548T | -16.10% | Consumer Electronics/Semi | Infrastructure | Smartphones/Memory/HBM | Pulled back after August's outsized HBM-driven surge; still up sharply year-on-year |
| 11 | SK Hynix | 000660.KS | South Korea | $1.260T | $1.096T | 15.00% | Semiconductors | Infrastructure | HBM/Memory chips for AI | Extended its run on the ongoing memory/HBM supply crunch |
| 12 | Micron Technology | MU | USA | $1.150T | $1.203T | -4.40% | Semiconductors | Infrastructure | HBM/DRAM/NAND memory | Modest pullback; reports FY26 Q4 results 30-Sept, a key catalyst for the memory thesis |
| 13 | AMD | AMD | USA | $779.62B | $878.77B | -11.30% | Semiconductors | Infrastructure | PC/Server/AI processors | Cooled off with the broader AI-semiconductor correction; no major company-specific news this week |
| 14 | ASML | ASML | Netherlands | $658.69B | $667.40B | -1.30% | Semiconductor Equipment | Infrastructure | EUV lithography machines | Roughly flat |
| 15 | Tencent | TCEHY | China | $511.26B | $527.36B | -3.10% | Internet Services | Consumer Tech | WeChat/Gaming/Social media | Modest pullback in line with Chinese tech broadly |
| 16 | Intel | INTC | USA | $484.58B | $563.12B | -13.90% | Semiconductors | Infrastructure | PC/Server processors/Foundry | Gave back part of August's outsized gain |
| 17 | Oracle | ORCL | USA | $457.36B | $663.38B | -31.10% | Enterprise Software | Cloud/Hyperscale | Database/Cloud/AI data centres | Sharp fall — now down over 50% from its 2026 high — as AI-capex-financing and debt-load concerns intensified |
| 18 | Cisco | CSCO | USA | $430.53B | $508.30B | -15.30% | Networking | Infrastructure | Network equipment/Security | Pulled back with the broader AI-infrastructure/networking correction |
| 19 | Palantir | PLTR | USA | $418.93B | $342.33B | 22.40% | Software | AI Platforms | Data analytics/AI platforms | One of the standout gainers this month, extending its recovery |
| 20 | Lam Research | LRCX | USA | $384.97B | $427.70B | -10.00% | Semiconductor Equipment | Infrastructure | Wafer fabrication equipment | Pulled back with the broader chip-equipment correction |
| 21 | Applied Materials | AMAT | USA | $360.86B | $396.92B | -9.10% | Semiconductor Equipment | Infrastructure | Chip manufacturing equipment | Pulled back with the broader chip-equipment correction |
| 22 | Dell Technologies | DELL | USA | $338.67B | $272.19B | 24.40% | Hardware/Infrastructure | Infrastructure | Servers/PCs/AI infrastructure hardware | Strong gain on continued AI-server demand |
| 23 | Netflix | NFLX | USA | $325.83B | $343.20B | -5.10% | Streaming | Consumer Tech | Video streaming/Original content | Modest pullback |
| 24 | Alibaba | BABA | China | $281.47B | $306.20B | -8.10% | E-commerce/Cloud | Cloud/Hyperscale | Online retail/Cloud/Qwen AI | Modest pullback in line with Chinese tech broadly |
| 25 | Palo Alto Networks | PANW | USA | $271.61B | $226.98B | 19.70% | Cybersecurity | Software/SaaS | Network security/Cloud security | Continued its August strength |
| 26 | Arm Holdings | ARM | UK | $269.23B | $436.81B | -38.40% | Semiconductors | Infrastructure | Chip architecture/IP licensing | Sharp fall, giving back the bulk of its 2026 AI re-rating amid the broader high-multiple/AI-bubble unwind |
| 27 | Sandisk | SNDK | USA | $254.77B | $270.68B | -5.90% | Semiconductors | Infrastructure | NAND flash/storage memory | Modest pullback after August's China-competition-driven slide |
| 28 | SAP | SAP | Germany | $248.28B | $213.16B | 16.50% | Enterprise Software | Software/SaaS | ERP/Business software | Gained on resilient enterprise-software demand |
| 29 | Arista Networks | ANET | USA | $244.40B | $221.67B | 10.30% | Networking | Infrastructure | Data centre networking/Cloud | Gained on continued AI data-centre networking demand |
| 30 | KLA | KLAC | USA | $242.50B | $276.41B | -12.30% | Semiconductor Equipment | Infrastructure | Process control/Inspection tools | Pulled back with the broader chip-equipment correction |
| 31 | Texas Instruments | TXN | USA | $236.02B | $281.52B | -16.20% | Semiconductors | Infrastructure | Analog chips/Embedded processors | Pulled back with the broader semiconductor correction |
| 32 | MediaTek | 2454.TW | Taiwan | $223.14B | $230.55B | -3.20% | Semiconductors | Infrastructure | Mobile/consumer SoC chips | Roughly flat despite securing Nvidia's $3.5bn strategic investment this week — offset by broader semiconductor weakness |
| 33 | IBM | IBM | USA | $221.30B | $290.02B | -23.70% | IT Services/Software | Infrastructure | Cloud/AI/Consulting/Mainframes | Fell back after completing its HRL Laboratories quantum-computing acquisition; still rebuilding from its August infra-earnings miss |
| 34 | CrowdStrike | CRWD | USA | $218.20B | $191.03B | 14.20% | Cybersecurity | Software/SaaS | Endpoint security/Threat intel | Extended its August earnings-beat rally |
| 35 | Salesforce | CRM | USA | $213.35B | $156.62B | 36.20% | Enterprise Software | Software/SaaS | CRM/Cloud applications | Standout gainer, carrying through its record Q2 FY2027 beat from late August |
| 36 | Marvell Technology | MRVL | USA | $200.91B | $267.73B | -25.00% | Semiconductors | Infrastructure | Custom AI silicon/Networking | Fell further after its underwhelming FY27 growth outlook |
| 37 | Seagate Technology | STX | Ireland | $192.48B | $209.64B | -8.20% | Semiconductors | Infrastructure | HDD/data storage for data centres | Pulled back after riding the storage/memory rally in August |
| 38 | Kioxia Holdings | 285A.T | Japan | $190.88B | $266.42B | -28.40% | Semiconductors | Infrastructure | NAND flash memory manufacturing | Sharp pullback after August's outsized memory-sector rally |
| 39 | Schneider Electric | SU.PA | France | $188.03B | $185.14B | 1.60% | Industrial Tech | Industrial Tech | Energy management/Automation | Roughly flat |
| 40 | Shopify | SHOP | Canada | $186.68B | $147.50B | 26.60% | E-commerce | Software/SaaS | E-commerce platform for merchants | Strong gain, recovering from August's pullback |
| 41 | Qualcomm | QCOM | USA | $180.22B | $263.75B | -31.70% | Semiconductors | Infrastructure | Mobile processors/5G/Licensing | Sharp fall, giving back the bulk of its 2026 re-rating amid the broader semiconductor/AI-valuation correction |
| 42 | Analog Devices | ADI | USA | $175.53B | $212.70B | -17.50% | Semiconductors | Infrastructure | Analog/Mixed-signal chips | Pulled back with the broader semiconductor correction |
| 43 | Tokyo Electron | 8035.T | Japan | $155.31B | $173.90B | -10.70% | Semiconductor Equipment | Infrastructure | Coater/developer/etch tools | Pulled back with the broader chip-equipment correction |
| 44 | Uber | UBER | USA | $154.74B | $144.10B | 7.40% | Transportation Tech | Consumer Tech | Ride-hailing/Food delivery | Gained despite announcing 10% workforce cuts this week to fund a $10bn+ autonomous-vehicle push |
| 45 | Delta Electronics | 2308.TW | Taiwan | $147.92B | $202.66B | -27.00% | Industrial Tech | Industrial Tech | Data centre power components | Sharp pullback after August's outsized power-infrastructure rally |
| 46 | Sony | SONY | Japan | $143.48B | $131.60B | 9.00% | Consumer Electronics | Consumer Tech | PlayStation/Cameras/Entertainment | Modest gain |
| 47 | Foxconn (Hon Hai) | 2317.TW | Taiwan | $113.43B | $137.76B | -17.70% | Hardware/Manufacturing | Industrial Tech | Electronics contract manufacturing | Pulled back with the broader Taiwan hardware/AI-server correction |
| 48 | AppLovin | APP | USA | $107.68B | $191.39B | -43.70% | Software | AI Platforms | AI-driven mobile ad tech platform | Sharp fall, now down over 50% for 2026, amid persistent competitor and growth-durability concerns |
| 49 | Delta Electronics (TH) | DELTA.BK | Thailand | $92.67B | $135.25B | -31.50% | Industrial Tech | Industrial Tech | Data centre power infrastructure | Sharp pullback after August's outsized power-infrastructure rally |
| 50 | Infineon | IFX.DE | Germany | $85.82B | $132.75B | -35.40% | Semiconductors | Infrastructure | Power semiconductors/Automotive chips | Sharp pullback after August's outsized rally |
The watch list is for informational purposes only and that does not actually represent the actual assets of the Fund
File
IPE Global Top 50 - Monthly Movers | August -> September 2026
NEW ENTRANTS - Stocks that entered the Top 50 in September 2026
| Company | Ticker | Sep Market Cap | Country | IPE Sector Tag | Notes |
|---|---|---|---|---|---|
| Advantest | 6857.T | $153.07B | Japan | Infrastructure | Re-enters the Top 50 on the AI chip-testing capex wave; last appeared in the Jun/Jul file before exiting in August |
| ServiceNow | NOW | $146.04B | USA | Software/SaaS | Re-enters the Top 50 as SaaS/enterprise-software valuations firmed; exited in August on 'SaaSpocalypse' pressure |
| Booking Holdings | BKNG | $145.23B | USA | Consumer Tech | Re-enters the Top 50 on robust travel demand; exited in August on relative underperformance |
| PDD Holdings | PDD | $117.02B | China | Cloud/Hyperscale | Re-enters the Top 50 alongside a firmer Chinese e-commerce/tech tape; exited in August on relative underperformance |
EXITS - Stocks that dropped out of the Top 50 in September 2026
| Company | Ticker | Aug Market Cap | Country | Notes | |
|---|---|---|---|---|---|
| Foxconn (Hon Hai) | 2317.TW | $137.76B | Taiwan | Pulled back with the broader Taiwan hardware/AI-server correction; pushed out by Advantest, ServiceNow, Booking Holdings and PDD Holdings | |
| AppLovin | APP | $191.39B | USA | Sharp fall, now down over 50% for 2026, on persistent competitor and growth-durability concerns | |
| Delta Electronics (TH) | DELTA.BK | $135.25B | Thailand | Sharp pullback after August's outsized power-infrastructure rally | |
| Infineon | IFX.DE | $132.75B | Germany | Sharp pullback after August's outsized rally |
IPE Top 20 Revenue Growth Q2 2026
File
| Rank | Company | Ticker | Sector | Revenue Growth YoY % | Reported Revenue | Fiscal Period | Notes |
|---|---|---|---|---|---|---|---|
| 1 | Micron Technology | MU | Infrastructure | 346% | $41.46B | FQ3 FY26 (ended 28-May-26) | 5th straight record quarter; DRAM/NAND/HBM demand far outstrips supply |
| 2 | SK Hynix | 000660.KS | Infrastructure | 198% | W52.6T (~$34.5B) | Q1 CY26 (ended 31-Mar-26) | HBM #1 share; official Q2 print due late July, not yet reported |
| 3 | Dell Technologies | DELL | Infrastructure | 88% | $43.8B | FQ1 FY27 (ended ~May-26) | AI server backlog $51.3B; FY27 AI server revenue guide raised to $60B |
| 4 | Nvidia | NVDA | Infrastructure | 85% | $81.6B | FQ1 FY27 (ended 26-Apr-26) | Data Center revenue +92% YoY to $75.2B within this total |
| 5 | Palantir | PLTR | AI Platforms | 85% | $1.633B | Q1 CY26 (ended 31-Mar-26) | US revenue +104% YoY; 11th straight quarter of accelerating growth |
| 6 | Samsung Electronics | 005930.KS | Infrastructure | 69% | W133.9T (~$91B) | Q1 CY26 (ended 31-Mar-26) | Semiconductor (DS) division revenue +225% YoY within this total |
| 7 | Broadcom | AVGO | Infrastructure | 48% | $22.187B | FQ2 FY26 (ended 3-May-26) | AI semiconductor revenue +143% YoY to $10.8B within this total |
| 8 | TSMC | TSM | Infrastructure | 41% | $35.9B | Q1 CY26 (ended 31-Mar-26) | HPC/AI now 61% of revenue; Q2 CY26 print due 16-Jul, not yet reported |
| 9 | Meta Platforms | META | Consumer Tech | 33% | $56.31B | Q1 CY26 (ended 31-Mar-26) | Fastest growth since 2021; FY26 capex raised to $125–145B |
| 10 | Marvell Technology | MRVL | Infrastructure | 28% | $2.418B | FQ1 FY27 (ended ~May-26) | Custom AI silicon bookings raising FY27/FY28 outlook further |
| 11 | Lam Research | LRCX | Infrastructure | 24% | $5.841B | FQ3 FY26 (ended 29-Mar-26) | Customer Support Business Group crossed $2B/qtr for first time |
| 12 | Alphabet (Google) | GOOGL | Cloud/Hyperscale | 22% | $109.9B | Q1 CY26 (ended 31-Mar-26) | Google Cloud +63% YoY to $20B within this total |
| 13 | Oracle | ORCL | Cloud/Hyperscale | 21% | $19.2B | FQ4 FY26 (ended May-26) | Cloud revenue +47% YoY within total; RPO reached $638B |
| 14 | Microsoft | MSFT | Cloud/Hyperscale | 18% | $82.9B | FQ3 FY26 (ended 31-Mar-26) | Azure +40% YoY within total; Microsoft Cloud revenue +29% YoY |
| 15 | Amazon | AMZN | Cloud/Hyperscale | 17% | $181.5B | Q1 CY26 (ended 31-Mar-26) | AWS +28% YoY, fastest AWS growth rate in 3+ years |
| 16 | Apple | AAPL | Consumer Tech | 17% | $111.2B | FQ2 FY26 (ended 28-Mar-26) | iPhone revenue +22% YoY to $57B; Services +16% YoY |
| 17 | ASML | ASML | Infrastructure | 13% | €8.8B | Q1 CY26 (ended 31-Mar-26) | FY26 guidance raised to €36–40B; Q2 CY26 print due mid-July |
| 18 | Cisco | CSCO | Infrastructure | 12% | $15.8B | FQ3 FY26 | AI infra orders from hyperscalers $5.3B YTD; FY26 guide raised to $9B |
| 19 | Applied Materials | AMAT | Infrastructure | 11% | $7.91B | FQ2 FY26 (ended 26-Apr-26) | DRAM revenue +18% YoY; semi equipment biz guided +30% for CY26 |
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