Technology Sector
Data center power infrastructure is attracting major capital as AI demand surges, with nVent acquiring Maverick Power for $1.75B and Nvidia investing hundreds of millions in Cloverleaf Infrastructure. However, supply chain vulnerabilities emerged as an Nvidia manager faced indictment for smuggling AI servers to China, while consumer hardware faced setbacks including a Lenovo BIOS update that bricked Legion Go handhelds.
nVent Electric agreed to acquire Maverick Power for $1.75 billion, with up to $550 million more in cash if the Texas-based power distribution company hits performance targets in 2027 and 2028. nVent, a London-listed electrical equipment supplier, is betting on data center infrastructure as AI computing capacity expands. Maverick makes low- and medium-voltage switchgear and integrated modular solutions for data centers; it has roughly 900 employees and estimated 2026 revenue of approximately $700 million. The deal values Maverick at 11.5 times anticipated 2026 adjusted EBITDA, or 10.5 times when adjusted for expected tax benefits. nVent will fund the acquisition with cash on hand and new debt, with Bank of America providing committed bridge financing. The company expects the deal to be accretive to adjusted earnings per share in the first year after close. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval and customary closing conditions. nVent shares fell 1.3% in premarket trading on the announcement.
GrapheneOS, a privacy-focused Android fork, will officially support Motorola smartphones starting in 2027, beginning with flagship models before expanding to the Razr foldables. The partnership marks GrapheneOS's first expansion beyond Google Pixel hardware, driven by Motorola's willingness to provide firmware and drivers in formats compatible with GrapheneOS development—a structural advantage that could make future Motorola phones easier to support than newer Pixels. Initial Motorola devices will be premium flagships powered by next-generation Snapdragon processors with hardware memory tagging (MTE) and enhanced secure-element integration; current-generation Motorola flagships lack these features but are close to meeting GrapheneOS requirements. The first supported models are expected to cost more than comparable Pixel devices. Motorola will provide 7 years of full updates on compatible devices, and GrapheneOS plans to prepare Motorola releases ahead of major Android updates, allowing devices to receive support as soon as a new Android version ships. GrapheneOS notes that Snapdragon processors offer superior CPU and GPU performance and better component isolation for cellular, Wi-Fi, Bluetooth, and GPS radios compared to Google's Tensor chips, though Tensor retains a security advantage through custom Titan M2 and M3 security modules. Supporting the Razr foldables represents GrapheneOS's first vertical flip-phone form factor. Budget Motorola models will not receive support initially; the project has stated that its security standards require modern flagship hardware, long firmware support, and reliable access to low-level components.
Xpeng's robotics unit raised over $900 million at a post-money valuation exceeding $6.3 billion, the largest single-round private financing in China's embodied AI sector. IDG Capital led the round, joined by strategic investors Tencent and Alibaba, with Gaorong Ventures also participating. The capital funds development of Xpeng's IRON humanoid robot—which features dexterous hands with multiple degrees of freedom, powered by three in-house Turing AI chips delivering significant computing power—as well as Physical AI model training, data generation, and mass-production facilities. Xpeng targets monthly output of 1,000 IRON units by year-end 2026, with commercial deployment in China and overseas beginning in 2027. Xpeng retains controlling ownership and will consolidate the robotics business into group financial statements. The funding announcement came as Xpeng reported Q2 revenue of RMB19.74 billion, up 8% year-over-year but missing Wall Street's RMB20.50 billion estimate, and an adjusted loss of RMB1.29 per share versus the expected loss of RMB0.77. Q3 guidance of RMB21.7 billion to RMB23.4 billion also fell short of consensus estimates of RMB25.88 billion. XPEV shares fell 3.7% on the day, reflecting investor skepticism about the core EV business despite confidence in the robotics bet.