ASML entered 2026 with results that confirmed strong demand for its technologies while raising market expectations. The company reported first-quarter revenue of €8.8 billion, a gross margin of 53%, basic earnings per share of €7.15*, and R&D expenses of €1.2 billion, demonstrating its ability to maintain strong profitability even while continuing to invest in future products.

When the biggest players in the tech market stop talking about vision and start reserving physical computing capacity years in advance, the nature of the entire industry changes. Nvidia will supply Amazon’s cloud division with up to 1 million GPU chips by the end of 2027, with deliveries set to begin as early as this year. At first glance, this is just another major corporate deal in AI. In reality, however, this news reveals something more significant.

Bill Ackman has once again launched a major capital play, this time in one of the most stable and profitable segments of the media business. His firm, Pershing Square, has submitted a non-binding offer to acquire Universal Music Group valued at approximately €55.75 billion, or about $64.31 billion. The goal is not only the acquisition itself but also to move the company closer to the U.S. market, achieve a higher valuation, and expand its investor base.

Unilever has taken one of its biggest strategic moves in recent years by agreeing to merge its Unilever Foods business with McCormick, creating a global group valued at approximately $65 billion with combined revenues of around $20 billion for fiscal year 2025. For shareholders, this is not just another merger announcement, but a clear signal that Unilever’s management wants to radically restructure the portfolio and shift the company’s focus to faster-growing categories outside of packaged foods. This makes it all the more interesting that the market did not receive this deal with enthusiasm.[1]