Sandisk’s online event marking the one-year anniversary since being spun off from Western Digital seems to be something of a damp squib.

The shares, already down a fair bit following the Citron Research short announcement, fell further after the company announced an upgrade to its consumer solid state memory drives, alongside a YouTube based presentation aimed at highlighting all the hep things one might do with, well, access to additional digital storage.

The stock — which is still up more than 150% in 2026 — was down more than 7% shortly after the company’s post at 2 pm ET. That was in stark contrast to the bump software stocks were riding following Anthropic’s product announcement earlier Tuesday.

Chinese drone maker DJI has filed a lawsuit against the FCC challenging the December 2025 decision that effectively banned all foreign drones and components from the US market. DJI and all other foreign drone makers were added to the FCC’s “covered list” of equipment and services that the agency says “pose an unacceptable risk to the national security of the United States”.

In a lawsuit filed with the US Court of Appeals for the Ninth Circuit, DJI argues that the company is “severely harmed” by the ruling, and seeks review of the decision:

“The FCC exceeded its statutory authority, failed to observe statutorily required procedures, and violated the Fifth Amendment when it purported to add DJI’s products to the Covered List.”

In a statement to Sherwood, a DJI spokesperson said:

The FCC can add products to the Covered List only when they present a national security threat, yet it has never identified any threat associated with DJI or its products. Despite repeated efforts to engage with the government, DJI has never been given the chance to provide information to address or refute any concerns. These procedural and substantive deficiencies violate the Constitution and federal law.

The FCC decision has cleared the way for the nascent US drone industry just as the US military urgently races to catch up in the race to acquire drones.

Cipher Mining cut its premarket losses on Tuesday after missing revenue and earnings estimates for the last quarter of 2025. The stock had fallen as much as 4.7% ahead of the open before paring its losses in morning trading.

For Q4, the company reported:

• Revenue of $60 million (estimate: $84.4 million).

• Adjusted earnings per share of -$0.14 (estimate: -$0.06).

After the close on Monday, crypto miner Canaan announced that it had purchased Cipher Mining’s stake in a mining joint venture for $39.75 million, deepening Cipher’s pivot away from bitcoin mining toward data centers. Indeed, CIFR acknowledged in the Q4 and year-end report that its “identity has evolved to focus on enabling next-generation compute at industrial scale.”

The Canaan acquisition news came on the heels of former bitcoin miner Bitdeer announcing that it had sold all of its bitcoin holdings to fund its pivot to AI.

Advanced Micro Devices is spiking in premarket trading on Tuesday after the company booked another major customer for its GPUs.

The chip designer struck a deal with Meta to deploy 6 gigawatts’ worth of AI infrastructure (that is, multiple generations of AMD AI chips). Per The Wall Street Journal, AMD has said that each gigawatt is equivalent to “several tens of billions of dollars” of sales, making the value of this pact in excess of $100 billion.

In exchange, Meta will receive warrants to buy as many as 160 million shares — roughly 10% of AMD’s current total shares outstanding — for a penny each as certain milestones are hit pertaining to the amount of gigawatts shipped, AMD’s share price, and “Meta achieving key technical and commercial milestones.” For all the tranches to vest, AMD stock would need to trade at $600.

The GPUs-for-warrants framework is similar to the deal that AMD brokered with OpenAI last year.

Meta CEO Mark Zuckerberg has a voracious appetite for AI compute. Just last week, Meta unveiled a “multi-year, multi-generational strategic partnership” with Nvidia that “will enable the large-scale deployment of NVIDIA CPUs and millions of NVIDIA Blackwell and Rubin GPUs, as well as the integration of NVIDIA Spectrum-X Ethernet switches for Meta’s Facebook Open Switching System platform.”

Nvidia, the leader in AI GPUs, slumped as news of this pact hit the wires.