The AI revolution is no longer a distant promise—it’s a present-day earnings driver. This week, three companies—Broadcom, Figma, and Dollar Tree—highlight how artificial intelligence is reshaping sector-specific growth trajectories. From semiconductors to design tools to retail, AI is not just a buzzword but a catalyst for revenue surges and strategic reinvention.

Broadcom: The Semiconductor Engine Powering AI’s Infrastructure

Broadcom’s Q2 2025 results underscore its dominance in the AI semiconductor race. The company reported $4.4 billion in AI-related revenue, a 46% year-over-year jump, driven by demand for its Tomahawk 6 Ethernet switch, which delivers 102.4 terabits per second of capacity [1]. This hardware is critical for hyperscalers and enterprises building AI training and inference workloads, with Broadcom projecting a 60% annual growth rate in AI semiconductor revenue through FY2026 [2].

The company’s infrastructure software division also saw a 25% YoY increase to $6.6 billion, fueled by VMware Cloud Foundation adoption among its top 10,000 customers [1]. This dual focus on hardware and software positions Broadcom as a one-stop shop for AI infrastructure, a rare advantage in a sector where supply chains are fragmented. With Q3 guidance of $5.1 billion in AI semiconductor revenue, investors are betting on sustained momentum [2].

However, historical data suggests caution for a simple buy-and-hold strategy around Broadcom’s earnings releases. Over the past three years, the stock has shown no statistically significant price drift in the 30 days following earnings announcements, with a cumulative return of approximately -3% versus the benchmark’s +6.5% [4]. This highlights the importance of evaluating broader market conditions and sector dynamics beyond quarterly results.

Figma: AI as the Collaborative Design Catalyst

Figma’s Q2 2025 earnings reveal a strategic pivot from hypergrowth to disciplined expansion. Revenue hit $247–250 million, up 46% YoY, with a preliminary operating income of $9–12 million [4]. The company’s AI tools, such as Figma Make 2.0 and Dev Mode, have transformed it into a cross-functional collaboration platform, achieving a 132% net dollar retention rate and 40.65% UI/UX market share [1].

Figma’s AI-driven approach is resonating with enterprises: 95% of Fortune 500 companies and 1,031 enterprise clients now use its solutions [4]. Analysts project $1.2 billion in 2026 revenue, but its 35x sales valuation raises questions about long-term sustainability [5]. For now, Figma’s ability to blend AI with design democratization makes it a key player in the $100 billion UI/UX market.

Dollar Tree: AI-Driven Retail Reinvention

Dollar Tree’s AI adoption is subtler but no less impactful. The company’s partnership with Uber Eats enables on-demand delivery from 9,000 stores, targeting rural and suburban markets with real-time order tracking and inventory search [1]. This collaboration drove 11.3% sales growth in Q1 2025 to $4.6 billion [1].

Beyond logistics, Dollar Tree is digitizing operations to adapt to inflationary pressures. A flexible pricing strategy—introducing $1.25–$1.50 items—aims to balance cost management with its value proposition [6]. Meanwhile, investments in e-commerce and smart inventory systems are streamlining operations, a critical move as the company navigates leadership changes and a shifting retail landscape [3].

Historically, Dollar Tree’s earnings releases have shown a modest positive effect, with a 30-day cumulative return of +2.3% versus the benchmark’s +0.2% [4]. However, daily t-values remain statistically insignificant, suggesting that while the stock may outperform briefly, the impact is not robust enough to justify a standalone earnings-driven strategy.

The Bigger Picture: AI as a Sector Transformer

These three companies exemplify how AI is redefining growth across industries. For semiconductors, AI is a hardware imperative. For design tools, it’s a collaboration enabler. For retail, it’s an operational efficiency lever. The common thread? AI isn’t just augmenting existing models—it’s forcing companies to rethink their value chains.

Investors should watch how these firms scale their AI initiatives. Broadcom’s infrastructure bets, Figma’s enterprise adoption, and Dollar Tree’s digital transformation all hinge on execution. But in a world where AI adoption is accelerating, the winners will be those who integrate it not as a feature, but as a foundation.

Source:

[1] Broadcom AI Revenue Soars in Q2 2025 [https://www.nasdaq.com/articles/broadcom-ai-revenue-soars-q2-2025]

[2] Broadcom Inc. Announces Second Quarter Fiscal Year 2025 [https://investors.broadcom.com/news-releases/news-release-details/broadcom-inc-announces-second-quarter-fiscal-year-2025-financial]

[3] Digitize Your Dollar Store: Adapting to New Trends for Enhanced Profits [https://blog.4sgm.com/digitize-your-dollar-store-adapting-to-new-trends-for-enhanced-profits/]

[4] Backtest results for AVGO and DLTR (see backtest section)

[5] Figma Stock: Should You Buy Before Sept. 3? Wall Street’s … [https://www.ainvest.com/news/figma-stock-buy-sept-3-wall-street-unanimous-answer-2508/]

[6] Dollar Tree’s SWOT analysis: pricing strategy shift amid tariffs and leadership change [https://www.investing.com/news/swot-analysis/dollar-trees-swot-analysis-pricing-strategy-shift-amid-tariffs-and-leadership-change-93CH-3975420]

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The August jobs report and earnings from companies including Salesforce and Broadcom are among the top events set for a trading week shortened by the Labor Day holiday.

Federal Reserve officials are eyeing the labor market ahead of next month’s Fed meeting, at which investors increasingly expect rate cuts. Broadcom’s earnings are the latest to put focus on the artificial intelligence marketplace, coming after Nvidia’s report last week. Salesforce is also expected to focus on AI offerings.

Stocks rose in August, extending a run of upbeat months, though Friday’s session marked a retreat from recent highs. And Friday was notable for a couple of other reasons: a federal appeals court ruling that looks set to hand debate over elements of President Donald Trump’s tariff strategy to the Supreme Court, and the delay of a separate ruling on Trump’s authority to fire Fed governor Lisa Cook.

Read to the bottom for our calendar of key events—and one more thing.

Jobs Data Set to Land as Fed Eyes Rate Cuts

Friday’s release of the August employment report comes after prior months’ data revealed that the labor market may be weakening. While employers added jobs in July, revisions to the results from earlier months showed that job creation was weaker than previously reported. The report is the first after the July revisions were followed by the dismissal of the head of the government department issuing the data.

Federal Chair Jerome Powell cited the weakness in the labor market as he opened the door to interest rate cuts at the central bank’s September meeting. Other Federal Reserve officials are scheduled to speak this week, potentially offering more insight into the Fed’s next moves. Last week brought fresh inflation data.

Look for additional labor market data earlier in the holiday-shortened week, while trade balance and factory orders data is also on tap.

Broadcom, Salesforce Earnings Keep Focus on AI

A chipmaker will once again highlight this week’s corporate earnings calendar, coming after last week’s update from Nvidia (NVDA).

Broadcom’s (AVGO) report on Thursday will highlight the growth of another U.S. chipmaker, coming after it recently posted record quarterly revenue on strong sales of its AI semiconductors. Salesforce’s (CRM) report on Wednesday will also key on AI, as the cloud software giant has raised its sales forecast after making acquisitions to help improve its AI offerings.

Design software maker Figma’s (FIG) report on Wednesday follows its recent initial public offering where its value soared as investors piled into the Adobe (ADBE) competitor. Another noteworthy report will come Tuesday from Nio (NIO), a Chinese Tesla (TSLA) competitor that recently released a new SUV to challenge the Model Y L.

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The Week Ahead: Key Events

Monday, Sept. 1

Stock, bond markets closed for Labor Day holiday

Tuesday, Sept. 2

Construction spending (July)

More Data to Watch: ISM manufacturing PMI (August) S&P U.S. manufacturing PMI (August)

Key Earnings: Zscaler (ZS), NIO, HealthEquity (HQY), Signet Jewelers (SIG), Academy Sports and Outdoors (ASO)

Wednesday, Sept. 3

Job openings (July)

Federal Reserve Officials Speaking: St. Louis Fed President Alberto Musalem

More Data to Watch: Factory orders (July), Federal Reserve Beige Book

Key Earnings: Salesforce, Figma, Hewlett Packard Enterprises (HPE), Dollar Tree (DLTR), Campbell’s (CPB), C3.ai (AI)

Thursday, Sept. 4

ADP employment (August)

Fed Officials Speaking: New York Fed President John Williams, Chicago Fed President Austan Goolsbee

More Data to Watch: Initial jobless claims (Week ending Aug. 30), U.S. productivity (Q2), U.S. trade deficit (July), S&P final U.S. services PMI (August), ISM services PMI (August)

Key Earnings: Broadcom, Lululemon (LULU), Samsara (IOT), Guidewire Software (GWRE), DocuSign (DOCU), Ciena (CIEN), ServiceTitan (TTAN), Toro (TTC)

Friday, Sept. 5

U.S. employment report (August)

Key Earnings: ABM Industries (ABM)

One More Thing

The SEC is considering new rules that could speed the approval of new crypto ETFs, and a number of companies have filed applications for new products ahead of that possibility. Investopedia’s Crystal Kim looked at what’s going on and what it means in this story.

Note: This is marketing material.

The S&P 500 managed to mark a new all-time high as US GDP revisions surprised on the upside. Other markets were more sanguine with European indices suffering due to the political upheaval in France and Netherlands. Asia was mixed with the Hang Seng giving up early gains by the end of the week. Saxo clients used the pull back in prices to add to positions in companies such as Orsted, ASR Nederland and Palantir. UnitedHeath also attracted buyers as new of Warrant Buffett’s buying was made public. The week saw investors trim positions in JDE Peet and MongoDB as both shares enjoyed spikes higher. More below in Key Stories.

FED Independence

US President Trump moved to oust Fed Governor Lisa Cook over alleged mortgage document falsification. While Cook says she won’t quit and fights her case the clash could open the door for Trump to secure a Fed board majority.

Trump’s push for lower rates is on a collision course with bonds

Orsted takes big hit

Ørsted tumbled 16.4% after U.S. authorities halted the Revolution Wind offshore project, underscoring policy risk in renewables.

Trump administration halts Rhode Island offshore wind project

Nvidia Earnings

Nvidia beat on earnings and once again smashed through consensus numbers with revenue +56% YoY. Guidance excluding China weighed on shares with investors mindful of a growth curve that show signs of flattening after two-year AI boom.

Nvidia Earnings: Why isn’t the market cheering?

French budget turmoil

France’s Prime Minister facing a vote of confidence on 8 September to back up his budget plan for grappling with France’s excessive deficits – a vote that may fail and keep a political cloud over the country. French equities and government bonds fell as political risk accelerated.

Europe on the edge as the penny of French politics turns up again

Monday 1st September is Labor Day in US and Canada with markets closed. Next week data highlights bring Eurozone Aug CPI, US Aug ISM Manufacturing PMI (Tuesday). US Jul JOLTS (Wednesday). US Aug ADP employment change, US Aug ISM Non-manufacturing PMI (Thursday). US Aug Nonfarm Payrolls and Unemployment rate (Friday). Corporate earnings to watch for include Zscaler, Nio (Tuesday). Salesforce, Figma, Dollar Tree (Wednesday). Broadcom, Lululemon (Thursday).

Market Quick Take – 29 August 2025

Market drivers and catalysts

Equities : U.S. stocks climbed as GDP growth was revised to 3.3% and labor data eased worries on recession; Europe slipped; Asia weakened, led by Japan’s gain offset by Hong Kong’s near 1% drop

Volatility : VIX dropped to about 14.43, mildly lower; curve appears in slight contango, signaling calm. Options suggest c. 1 % SPX swing

Digital Assets: BTC and ETH slight up. U.S. spot ETH ETFs and BTC ETFs both drew net inflows

Fixed Income : Modest US yield curve flattening as 10-year yield drops

Currencies : USD weaker, especially against smaller G10 currencies, CNH

Commodities : Weekly gain led by crude, natgas, copper and gold

Macro events : US July Personal Income Spending & August Uni of Michigan Sentiment

Macro headlines

Federal Reserve Governor Christopher Waller signaled support for rate cuts , saying he backs a reduction in September and expects further easing over the next three to six months, guided by incoming data. He warned that risks of an undesirable weakening in the labor market have risen, arguing the FOMC should begin cutting rates now.

Japan’s retail sales rose 0.3% year-on-year in July 2025 , markedly slower than June’s revised 1.9% and below the expected 1.8% rise. It was the slowest growth since February 2022 yet marked the 40th consecutive increase.

Tokyo’s core consumer prices rose 2.5% year-on-year in August 2025 , above the BOJ’s 2% target. Governor Ueda expects wage increases amid a tight labor market, hinting at possible rate hikes. The BOJ paused hikes in July due to U.S. tariff concerns but raised its inflation outlook.

Japan’s industrial production dropped 1.6% in July 2025 , reversing June’s 2.1% rise and exceeding the expected 1.0% decline. It was the steepest fall since November 2024, impacted by U.S. trade uncertainty, weak demand, and pressure on autos and steel industries.

Japan’s unemployment rate fell to 2.3% in July 2025 , below the expected 2.5% and the lowest since December 2019. Unemployment dropped by 80 thousand to 1.64 million. Employment decreased by 10 thousand to 68.31 million, and the labor force shrank by 110 thousand to 69.93 million.

The U.S. economy grew at an annual rate of 3.3% in Q2 2025 , rebounding from a 0.5% contraction in Q1. Revised figures showed higher investment (5.7%) and consumer spending (1.6%), offset by lower government spending (-0.2%) and revised imports (-29.8%).

U.S. pending home sales decreased by 0.4% in July 2025 , following a 0.8% drop in June, marking the first consecutive decline since January. Sales fell in the Northeast (-0.6%), Midwest (-4.0%), and South (-0.1%), compensating for a 3.7% rise in the West.

U.S. initial jobless claims dropped by 5,000 to 229,000 in the week ending August 23 , slightly below expectations. Continuing claims fell by 7,000 to 1,954,000. While not signaling rapid labor market deterioration, concerns about hiring slowdown persist.

Macro calendar highlights (times in GMT)

August CPIs from France (0645), Spain (0700), Italy (0900) & Germany (1200)

1230 – Canada 2Q GDP

1230 – US July PCE Inflation

1230 – US July Advance Goods Trade Balance

1400 – US Final August University of Michigan Sentiment

Earnings events

Note: earnings announcement dates can change with little notice. Consult other sources to confirm earnings releases as they approach.

Earnings next week

Tue: Alimentation Couche-Tard, ZScaler

Wed: Salesforce, Figma, Hewlett Packard, Dollar Tree,

Thu: Broadcom, Copart, Lululemon

Fri: Kroger

For all macro, earnings, and dividend events check Saxo’s calendar.

Equities

USA

U.S. stocks gained Thursday on renewed optimism from a second quarter GDP upward revision to 3.3% and muted jobless claims, which fed expectations of sustained economic strength. The S&P 500 rose 0.3% to 6,501.86, marking its 20th record close of the year, while the Nasdaq added 0.6% and the Dow gained 0.2%. Nvidia beat on earnings but guidance excluding China weighed on shares; nevertheless, tech leaders including Broadcom, Amazon and Alphabet helped offset weakness. CrowdStrike jumped 4.6%, HP 1.9%, and Snowflake surged 20% on earnings, reinforcing investor confidence amid AI themes. Attention shifts to Friday’s PCE inflation data as markets assess Fed policy trajectory.

Europe

European stocks gained on Thursday. Pernod Ricard gained 1.4% after solid quarterly results, while Nvidia’s results alleviated AI demand concerns. The STOXX 600 rose 0.3% to 553.7, with France’s CAC 40 climbing around 0.2%. FTSE indices fell for a third straight day. The FTSE 100 declined approximately 0.4% to 9,216.8, weighed down by tech and utilities. Luxury peers LVMH and Remy Cointreau advanced on the back of Pernod Ricard’s performance. Semiconductor names were mixed: Infineon and ASM International up about 1%, ASML flat to down. Focus shifts to political risks in France ahead of a confidence vote.

Asia

Asian markets slipped. The MSCI Asia‑Pacific ex‑Japan index declined 0.2% amid investor caution after Nvidia’s earnings beat came with weak China-related guidance. Japanese shares edged higher, with the Nikkei 225 up 0.7%, despite disruptions in trade talks. South Korea’s market rose 0.3% after the Bank of Korea held rates at 2.5%. Hong Kong’s Hang Seng index fell almost 1% to close at 24,999—its third consecutive decline—led by a 13% plunge in Meituan after its Q2 profit dropped and fears of rising food delivery competition.

Digital Assets

Bitcoin trades near $112,526, up roughly 1.2% on the day Ethereum holds around $4,508–$4,510, up slightly. Spot Ethereum ETFs attracted approximately $307 million in net inflows, significantly outpacing Bitcoin ETFs’ $179 million.

Volatility

The VIX index sits near 14.43, down around 2.8%. Mild contango persists between spot and front-month VIX futures, implying continued low volatility. SPX options suggest an expected daily move of roughly 1%.

Fixed Income

US Treasury yields were steady to slightly higher at the front end of the yield curve, while longer yields pushed lower toward the lows of the recent range in a yield curve flattening move. The 10-year benchmark treasury yield closed near 4.20%.

The Germany-France 10-year yield spreads tightened slightly to 78 basis points as France’s long yields reversed lower yesterday. French Finance Minister Lombard dismissed concerns of a financial crisis in the country, claiming that deficit reduction targets are on track this

Japan’s government bond yield curve flattened slightly a s 2-year JGB yields rebounded and the 10-year yield fell slightly to 1.615% after briefly touching new multi-year highs yesterday above 1.64%.

Commodities

The Bloomberg Commodity Index is on track for a second consecutive weekly gain and its second-highest monthly close in three years. Strength was led by energy, with WTI, Brent and natural gas advancing, alongside gains in copper and gold. Together, these five contracts make up 43% of the index, enough to outweigh broad losses across the agricultural sector.

Gold holds a weekly gain, trading above USD 3,400, with traders focusing on today’s PCE inflation print, Fed’s Waller calling for several rate cuts, and continued worries over Fed independence.

Silver meanwhile trades near unchanged on the week as it struggles to gain a foothold above USD 39, partly driven by selling pressure from the expiring September futures contract as traders unwind instead of paying 50 cents to roll into the December contract.

Crude prices remain range-bound, with geopolitical tensions being more than offset by expectations for an oversupplied market into the final quarter and beyond, as eight OPEC+ producers take aim at their raised production targets.

Currencies

The US dollar traded weaker yesterday , falling against the Euro as EURUSD remains stuck in the range between 1.1600 and 1.1700 and USDJPY in the 146.50-148.00+ range. But against commodity currencies and the smaller G10 currencies, the greenback weakened more sharply, with AUDUSD posting a 10-day high (and AUD perhaps in part inspired by CNH strength) and USDCAD close to range lows since late July.

China set the fixing rate stronger yesterday and USDCNH dropped the most in a single session since early May and to a new low since November of last year, a sign that China is allowing its currency to reflect more of the broader USD weakness since the beginning of the year.

For a global look at markets – go to Inspiration.

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The S&P 500 managed to mark a new all-time high as US GDP revisions surprised on the upside. Other markets were more sanguine with European indices suffering due to the political upheaval in France and Netherlands. Asia was mixed with the Hang Seng giving up early gains by the end of the week. Saxo clients used the pull back in prices to add to positions in companies such as Orsted, ASR Nederland and Palantir. UnitedHeath also attracted buyers as new of Warrant Buffett’s buying was made public. The week saw investors trim positions in JDE Peet and MongoDB as both shares enjoyed spikes higher. More below in Key Stories.

FED Independence

US President Trump moved to oust Fed Governor Lisa Cook over alleged mortgage document falsification. While Cook says she won’t quit and fights her case the clash could open the door for Trump to secure a Fed board majority.

Trump’s push for lower rates is on a collision course with bonds

Orsted takes big hit

Ørsted tumbled 16.4% after U.S. authorities halted the Revolution Wind offshore project, underscoring policy risk in renewables.

Trump administration halts Rhode Island offshore wind project

Nvidia Earnings

Nvidia beat on earnings and once again smashed through consensus numbers with revenue +56% YoY. Guidance excluding China weighed on shares with investors mindful of a growth curve that show signs of flattening after two-year AI boom.

Nvidia Earnings: Why isn’t the market cheering?

French budget turmoil

France’s Prime Minister facing a vote of confidence on 8 September to back up his budget plan for grappling with France’s excessive deficits – a vote that may fail and keep a political cloud over the country. French equities and government bonds fell as political risk accelerated.

Europe on the edge as the penny of French politics turns up again

Monday 1st September is Labor Day in US and Canada with markets closed. Next week data highlights bring Eurozone Aug CPI, US Aug ISM Manufacturing PMI (Tuesday). US Jul JOLTS (Wednesday). US Aug ADP employment change, US Aug ISM Non-manufacturing PMI (Thursday). US Aug Nonfarm Payrolls and Unemployment rate (Friday). Corporate earnings to watch for include Zscaler, Nio (Tuesday). Salesforce, Figma, Dollar Tree (Wednesday). Broadcom, Lululemon (Thursday).