Toshiba Tec Corp.

Tesla shares rose 5% after the electric vehicle maker reported third-quarter deliveries of 486,532 vehicles, above the 461,100 units expected by analysts polled by FactSet. Broadcom rose more than 3% after Reuters reported it agreed to lend Anthropic up to $42 billion to finance infrastructure purchases, with investment banks seeking to raise $42 billion of Class A senior secured debt and $18 billion in Class B debt, according to Bloomberg. Nike fell almost 6% after its fiscal first-quarter revenue missed analyst expectations, with a 4% slide in sales tied to declines in China and plans to lay off staff in 2027. Synaptics surged 14% and ON Semiconductor rose more than 5% after ON Semi revised its buyout offer for Synaptics to $123 a share, or $5.7 billion. Seagate and Western Digital each tumbled 13% following a Nikkei report that Japan's Toshiba will double its hard disk drive production capacity for data centers and invest $380 million to expand facilities in the Philippines.

Nike shares fell more than 10% in premarket trading after the company missed revenue expectations against LSEG consensus for its fiscal first quarter, reporting sales down 4% on declines in its China business and announcing plans to lay off staff in 2027. Synaptics shares jumped over 14% and ON Semiconductor shares rose more than 7% following reports that ON Semiconductor will acquire Synaptics for $123 per share in cash, a transaction now valued at $5.7 billion, down from the prior agreement of $7 billion. Nexalin Technology shares dropped over 18% premarket after the medical device company announced a 10-year distribution and manufacturing deal with Inovanexa Medical Technologies on Thursday, clearing its Nexalin Sync neurostimulation device for distribution across seven South American countries. Vylor shares gained slightly after the seeds and genetics company was added to the S&P 500 on Thursday, following its spinoff from Corteva, which will move to the S&P MidCap 400. Seagate Technology and Western Digital shares fell over 11% and 8% respectively after a Nikkei report that Toshiba will double its production capacity for data-center hard disk drives and invest $380 million to expand facilities in the Philippines.

Seagate and Western Digital shares fell 7% and 5%, respectively, in premarket trading on Friday after Nikkei Asia reported that Toshiba could double the amount of hard disk drive supply available. The Japanese company is set to invest roughly $380M in the Philippines to expand facilities and create a more stable supply of components needed for AI infrastructure, the outlet added. The expansion would be Toshiba's first major investment in hard disk drives in roughly five years, and the company is also working on new products aimed at increasing per-unit memory capacity. Toshiba holds roughly 10% of the storage market, behind Seagate and Western Digital. Seagate, Western Digital, and Toshiba did not immediately respond to a request for comment from Seeking Alpha.

Quantum Corridor, Ciena, and Toshiba have completed the world’s first trial of 1.6 Tb/s quantum-safe optical encryption on a live commercial network. The trial, conducted on Quantum Corridor’s production network between Chicago and Hammond, Indiana, validated encrypted connectivity using Ciena’s Waveserver platform powered by WaveLogic 6 Extreme, alongside existing WaveLogic 5 Extreme 800G encrypted traffic on the same photonic line system. It demonstrated interworking with Toshiba’s quantum key distribution servers, which supply quantum-generated keys to Ciena’s optical encryption systems, and supported a hybrid security approach combining NIST-certified post-quantum cryptography algorithms with quantum key distribution. The solution gives network operators flexibility to mitigate threats from quantum computers, including harvest now, decrypt later attacks, and offers a practical migration path without wholesale infrastructure replacement. The milestone underscores how organizations can immediately protect critical in-flight data while preparing for the quantum era.

Mitsubishi Electric, Toshiba, and Rohm are aiming to reach an agreement by September to combine their power-chip businesses into a joint venture that would integrate sales, manufacturing, and development, with Mitsubishi Electric tentatively expected to lead the merged entity. Mitsubishi Electric CEO Kei Uruma said the companies are working through final terms and hope to announce plans by September, believing the deal could strengthen their ability to compete with major global rivals and possibly reach the top position in power-semiconductor market share. Each of the three companies currently holds less than 5% of the global power-semiconductor market, while Infineon Technologies controls nearly one-fifth, according to Omdia. The companies still need to resolve disagreements over the product scope, as Toshiba and Rohm want to include analog chips such as converters and drivers, while Mitsubishi Electric prefers a tighter focus on power chips. Uruma also noted that Japan's government subsidy rules require at least 200 billion yen, or about $1.2 billion, in investments involving other companies to qualify for support, a requirement he called too demanding, and warned that without similar assistance the combined venture's costs could remain higher than those of overseas competitors.