The net return objective to the investor is 10.0% pa through capital growth over rolling five-year periods.
Material Announcements Dec 15th - 22nd 2025.csv
Global Top 50 Technology Companies | December 2025
File
| Date | Company | Announcement Type | Key Details | Market Impact | Source URL | ||
|---|---|---|---|---|---|---|---|
| Dec-19 | Oracle (ORCL) | TikTok Joint Venture | Oracle leads investor consortium (Oracle, Silver Lake, MGX) acquiring 15% stake in TikTok U.S. operations; Deal closes Jan 22, 2026; Oracle becomes exclusive cloud provider and security auditor for TikTok U.S.; New entity controls U.S. algorithm, data protection, content moderation; 50% owned by consortium, 30.1% ByteDance investors, 19.9% ByteDance; Multi-gigawatt data center expansion expected | Stock surged 7.2% to record highs on Dec 19; Addresses customer concentration concerns beyond OpenAI; Major strategic/political win as security partner | https://www.cnbc.com/2025/12/19/oracle-stock-tiktok-us-trump-china.html | ||
| Dec-19 | Oracle (ORCL) | Infrastructure Rally | Stock jumped 7.2% on Dec 19 as part of broader AI infrastructure rally; RPO growth >400% (from Dec 10 earnings) validated 'Infrastructure Economics' thesis; Market separating 'AI infrastructure winners' from 'AI spenders'; Oracle positioned as pure infrastructure play vs hyperscalers | Rally erased prior 'capex shock' concerns; Backlog growth demonstrating binding long-term contracts justify buildout; Stock at $191.97 after gains | https://markets.financialcontent.com/stocks/article/marketminute-2025-12-19-the-ai-second-wind-nvidia-and-oracle-ignite-year-end-rally-as-infrastructure-economics-replace-bubble-fears | ||
| Dec-19 | NVIDIA (NVDA) | Export Controls/Rally | Stock gained 3.4% on Dec 19, approaching October peaks near $140; U.S. approved H200 chip exports to China with 25% tariff (partial relaxation of export curbs); Memory bottleneck signals continued AI data center buildout; Market treating NVIDIA as 'cheap' despite $3T+ valuation | Positive signal that export controls easing vs complete ban; China market partially reopens; AI infrastructure demand validation | https://ts2.tech/en/big-tech-stocks-today-nvidia-apple-microsoft-amazon-alphabet-meta-and-tesla-the-ai-rally-meets-a-2026-reality-check-dec-20-2025/ | ||
| Dec 15-22 | Alphabet (GOOGL) | Performance Leadership | Stock up 62% YTD, best performing among Mag 7 in 2025; Google Cloud accelerated to 34% growth; Custom TPU strategy insulating from Nvidia supply constraints; Stock hitting record highs at ~$210; Vertical integration paying off; Google Cloud/Palo Alto Networks partnership approaching $10B over several years announced | Clear separation from underperforming Mag 7 peers (Amazon +1% | Apple +12% | Microsoft +13%); Demonstrates successful AI monetization vs pure spending; Market cap ~$3.8T | 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/ |
| Dec-22 | Alphabet (GOOGL) | Internal AI Initiative | Developing 'TorchTPU' to make Tensor Processing Units more compatible with PyTorch framework; Aims to reduce reliance on NVIDIA's CUDA ecosystem; Make Google TPUs more attractive to developers and enterprises; Meta's PyTorch is widely used AI framework | Strategic move to break NVIDIA's software moat; Could accelerate TPU adoption if successful; Competitive response to NVIDIA dominance | https://ts2.tech/en/big-tech-stocks-week-ahead-dec-22-26-2025-santa-rally-watch-ai-spending-jitters-and-key-catalysts-for-apple-microsoft-alphabet-amazon-meta-nvidia-and-tesla/ | ||
| Dec 15-22 | Microsoft (MSFT) | AI Milestones | AI business annual revenue surpassed $13B, up 175% YoY; Azure revenue exceeded $75B in FY2025, up 34%; Joined $4 trillion market cap club alongside NVIDIA; Microsoft disclosed Azure revenue in dollars for first time; Sequential backlog growth 6.5% (modest vs Oracle's 400%+); 'Co-opetition' with Oracle allowing OpenAI to run on OCI to bypass capacity limits | Validates AI infrastructure investments but growth slower than Oracle's explosive backlog; Customer concentration on OpenAI remains concern; Stock up ~13% YTD vs peers | https://investorplace.com/market360/2025/08/are-amazon-apple-meta-and-microsoft-buys-after-earnings/ | ||
| Dec-19 | Marvell Technology (MRVL) | Acquisition | Acquiring photonics startup Celestial AI for $3.25B (cash and stock); Celestial builds 'photonic fabric' using light vs electrical signals to connect AI accelerators to memory; Technology addresses bottlenecks in large-scale AI training clusters; Strategic expansion into AI data center networking | Major move into next-gen AI infrastructure; Photonics reduces data bottlenecks critical for AI training; Positions Marvell in high-growth AI networking market | https://techstartups.com/2025/12/03/top-tech-news-today-december-3-2025/ | ||
| Dec 2-5 | Amazon (AMZN) | AWS re:Invent | Announced 'AI Factories' with NVIDIA partnership for sovereign data centers; Trainium3 chip unveiled as NVIDIA alternative; CEO Andy Jassy highlighted Trainium2 revenue momentum; AWS Q3 revenue $33B (up 20%); AI Agents focus with Bedrock and SageMaker enhancements; Serverless model customization launched | Massive AI infrastructure buildout demonstrated; Q4 guidance weak ($15.5-20.5B operating income vs $19.5B est) raises ROI questions on $100B+ AI investment; Stock underperforming at +1% YTD | https://techcrunch.com/2025/12/04/all-the-biggest-news-from-aws-big-tech-show-reinvent-2025/ | ||
| Dec-19 | Intel (INTC) | Foundry Progress | Analyst reports suggest 'high likelihood' of foundry orders from Apple, Broadcom, Google, possibly NVIDIA/AMD for 14A node; Panther Lake CPU yields reached 60-65% in November (target 70% by end 2025); Arizona Fab52 operational with 15+ EUV machines; 18A node touted as 'real deal' by analysts; Xeon 6+ data center chip also on 18A | Critical proof point for Intel's foundry turnaround if orders materialize; Yield improvements de-risking technology; Still faces trust issues with fabless customers wary of sharing IP | https://www.pcgamer.com/hardware/securities-firm-research-suggests-that-intel-is-on-track-to-garner-chip-manufacturing-and-packaging-orders-from-apple-broadcom-google-and-maybe-even-nvidia/ | ||
| Dec 15-22 | Meta (META) | AI Spending Scrutiny | Stock facing skepticism on 'AI Superintelligence' pivot; Massive spending without immediate cloud-rental revenue streams like hyperscalers; Reality Labs lost $4.4B in Q3 on $470M revenue; Oppenheimer analysts compare to metaverse spending 2021-2022; Stock up only 10% YTD vs Google's 62% | Market questioning ROI on AI investments; Pattern similar to metaverse concerns; Needs to demonstrate monetization path; Trading at discount to AI infrastructure peers | https://www.cnbc.com/2025/10/31/tech-ai-google-meta-amazon-microsoft-spend.html | ||
| Dec 15-22 | Broadcom (AVGO) | Market Positioning | Reported in speculation about potential Intel foundry acquisition (chip design unit); Analyst focus on custom AI chip business and hyperscaler spending sustainability; Fiscal 2025 complete with strong AI semiconductor growth 74% YoY; Stock holding up in AI infrastructure rally | Key bellwether for custom AI chip demand; Intel acquisition rumors adding volatility; Fifth custom AI chip customer announced in Dec 12 earnings | https://www.techpowerup.com/332657/intel-faces-potential-breakup-as-tsmc-and-broadcom-explore-acquisition | ||
| Dec 15-22 | Adobe (ADBE) | AI Business Model Pressure | Class-action lawsuit filed Dec 17 accusing Adobe of misusing creators' work to train Firefly AI models without consent; Legacy SaaS model under pressure from AI 'agentic workflows' that could cannibalize seat-based licensing; Stock down 30%+ from highs despite Q4 beat; Investors concerned AI could automate away traditional seat expansion | Fundamental business model threat from AI automation; Legal risks from training data practices; Trading at significant discount to AI-native peers like Palantir | https://www.crescendo.ai/news/latest-ai-news-and-updates | ||
| Dec 15-22 | Salesforce (CRM) | AI Business Model Pressure | Legacy SaaS under pressure from agentic AI potentially cannibalizing seat-based model; Stock down 31% despite Agentforce 360 platform launch; $15B San Francisco investment announced; AI agents for sales, finance, service launched with GPT-5 and Claude integration; $60B revenue target by 2030 | Investors skeptical that AI agents won't reduce seat count needs; Business model transition risk high; Legacy SaaS companies struggling vs AI-native competitors | https://markets.financialcontent.com/stocks/article/marketminute-2025-12-19-the-ai-second-wind-nvidia-and-oracle-ignite-year-end-rally-as-infrastructure-economics-replace-bubble-fears | ||
| Dec 15-22 | Palantir (PLTR) | AI-Native Leadership | Stock up 142% YTD, leading all major tech stocks; Clear market separation: AI-native platforms winning vs legacy SaaS losing; Partnership with Snowflake for joint AI deployment announced; AIP (Artificial Intelligence Platform) driving commercial and government growth; P/S ratio 65x (premium to peers but justified by AI-native positioning) | Market rewarding AI-native business models over retrofitted AI features; Government + commercial diversification working; Valuation stretched but momentum strong | https://www.saastr.com/the-performing-major-b2b-stocks-of-2025-what-the-ai-divide-tells-us-about-the-future-of-saas/ | ||
| Dec-15 | CrowdStrike (CRWD) | AI Security Launch | Announced GA of Falcon AI Detection and Response to secure AI attack surface; Unified AI prompt-layer protection across development through workforce usage; Annual Recurring Revenue reached $4B+ in Q3 (up 22.5%); Despite July outage, ARR still growing; Stock up 51% YTD; Cybersecurity spend remains non-discretionary | Security essential for AI adoption; Resilient growth post-outage validates product strength; AI creating new attack surfaces driving demand; AWS Agentic AI Specialization Partner | https://www.crowdstrike.com/en-us/press-releases/ | ||
| Dec 15-22 | Snowflake (SNOW) | Growth Re-acceleration | Stock up 45-50% YTD after mid-year weakness; Q3 product revenue up 29-32% YoY (re-accelerating); RPO $7.9B, up 37% YoY (growing faster than revenue); FY26 product revenue guidance raised to $4.45B (28% growth); Adjusted earnings up 75% YoY to $0.35/share; 93% consumption-based revenue model; Partnership with Palantir for AI deployment | Data infrastructure = AI infrastructure thesis validated; Consumption model working in AI era; Trading at 15.5x sales vs Palantir's 65x; Recovery story gaining traction | https://www.fool.com/investing/2025/12/12/prediction-artificial-intelligence-stock-snowflake/ | ||
| Dec 15-22 | ServiceNow (NOW) | Legacy SaaS Pressure | Stock down 26% despite maintaining growth; Agentic AI workflows threatening traditional seat-based licensing model; Revenue still growing at 32%+ but market discounting future; Part of broader legacy SaaS selloff; Needs to prove AI won't cannibalize core business | Traditional SaaS playbook being rewritten by AI; Market separating AI infrastructure from AI-threatened business models; Valuation compression vs AI-native peers | https://www.saastr.com/the-performing-major-b2b-stocks-of-2025-what-the-ai-divide-tells-us-about-the-future-of-saas/ | ||
| Dec 15-22 | TSMC | Foundry Leadership | Maintains substantial lead in advanced nodes; Numerous reports of potential Intel foundry acquisition discussions (unconfirmed); Apple A20 chip with 2nm expected 2026; AMD exploring Samsung 2nm as TSMC alternative shows capacity constraints; Morgan Stanley urging increased exposure ahead of 2026; Treated as 'toll booth' on AI silicon by investors | Dominant position strengthening; Capacity constraints driving customers to explore alternatives; Intel acquisition rumors add complexity; 2026 growth guidance expectations high | https://ts2.tech/en/semiconductor-stocks-week-ahead-dec-22-26-2025-nvidia-micron-broadcom-and-tsmc-in-focus-as-ai-spending-memory-shortages-and-china-headlines-drive-volatility/ | ||
| Dec 15-22 | ASML | Equipment Demand | Benefiting from AI-driven demand for advanced nodes and complex process control; Equipment spending forecasts strong multi-year; Jefferies upgrade of KLA tied to advanced node exposure; ASML's EUV monopoly position intact; Intel Fab52 has 15+ EUV machines; Supports equipment makers like Applied Materials, Lam Research | Critical supplier for all advanced chip manufacturing; AI pushing industry to more complex nodes; Multi-year capex cycle underway; Zero competition in high-end EUV lithography | https://ts2.tech/en/semiconductor-stocks-week-ahead-dec-22-26-2025-nvidia-micron-broadcom-and-tsmc-in-focus-as-ai-spending-memory-shortages-and-china-headlines-drive-volatility/ | ||
| Dec-19 | U.S. Dept of Energy | AI Supercomputer | Signed agreements with 24 organizations for 'Genesis Mission' to advance scientific AI; NVIDIA and Oracle announced 'Solstice' system with 100,000 Blackwell GPUs (largest AI supercomputer for DOE); Participants include: Microsoft, Google, AWS, IBM, Intel, AMD, OpenAI, Anthropic, xAI; Validates AI compute spreading beyond consumer applications into research/government | Government validating AI infrastructure buildout; Long-duration mission-critical workloads for cloud providers; Demonstrates AI infrastructure demand diversification beyond chatbots | https://ts2.tech/en/coreweave-stock-nvidias-china-chip-review-and-oracles-tiktok-deal-the-ai-infrastructure-news-driving-markets-on-dec-19-2025/ |
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.