J.P. Morgan US TMT Update: Meta Settlement, AWS-NVIDIA GPU Expansion, and Software Q2 Earnings

J.P. Morgan TMT Specialist Sales highlights pre-market market reactions to CrowdStrike's Q2 beat-and-raise and Salesforce's mixed print with expanded Anthropic integration. Key desk color covers Meta's $18B teen social media litigation settlement and AWS tripling its NVIDIA GPU partnership to 3M units.

Key Takeaways

• 1.Meta reached an $18B 10-year settlement across state AGs over youth online safety, removing an immediate multi-year legal overhang ahead of the targeted October 2026 release of its Watermelon model.
• 2.AWS expanded its partnership with NVIDIA to deploy an additional 2M GPUs through Q2 FY29, bringing the total deployment to 3M GPUs and supporting rising buyside expectations for 2027 AWS revenue growth.
• 3.CrowdStrike delivered a strong Q2 beat-and-raise with Net New ARR of $333M (+51% Y/Y), supported by accelerating post-Mythos AI security demand and an eight-figure ARR deal with a frontier lab.

Table of Contents

• SCHILSKY'S SNAPSHOT
• NEWS – DESK COLOR – JPM TECH RESEARCH
• META Settles Multi-State Teen Social Media Suit + Watermelon Soon
• AMZN AWS Triples NVDA GPU Partnership
• CRWD Q227 Earnings – The Man, The Mythos, The Legend
• MDB Q227 Earnings Preview – Atlas Hugged - or Rugged?
• CRM Q227 Earnings – Content(ful) with Low Expectations
• PANW Contemplated Buying DDOG and OKTA
• Yipit 'Chose Violence' (re: Anthropic)
• Russian Cybercriminals Used SPCX's Cursor for Hacking (re: Cybersecurity)
• TTWO An Exclusive Deep Dive Into GTA VI
• Inside OpenAI’s Reboot
• Yeah, That’s What Happens When Momentum ‘Dies’
• SCHILSKY'S SENTIMENT MONITORS
• THE INTERNET SENTIMENT MATRIX
• THE SOFTWARE SENTIMENT MATRIX
• THE MEDIA & TELECOM SENTIMENT MATRIX
• TMT CORPORATE EVENT CALENDAR

Report data

JPM Tech Earnings Cheat Sheet

Reports in this series

JPM Tech Sketch is shown in chronological order through this edition, published on August 27, 2026.

Part of the JPM Tech Sketch series — view all 11 editions

1. Jun 10JPM TECH SKETCH: Schilsky Whispers – Tech Debates Dissected, DKNG A Prediction Markets Winner?, AAPL WWDC Detailed 20260609
2. Jul 1JPM TECH SKETCH: SE:GRAB:GOTO Q2 Previews,MSFT Another -2.5% RIF Coming, META Tried Buying Kalshi - Sorta
3. Jul 6JPM TECH SKETCH: NFLX Q2 Preview – Engagement Report > Earnings Report, META Watermelon LLM Bleeding Edge?, RDDT Gaining AI Traffic, TSLA Robotaxi in Miami
4. Jul 7JPM TECH SKETCH: SPCX Initiate at OW $225 PT – The Next Frontier, META Says States Want $1.4T, AAPL Price Elasticity
5. Jul 13JPM TECH SKETCH - META Q2 Preview - Hell or High Water(melon), GOOGL Q2 Preview - Gemini Fading, EU Social Media Ban, The State of AI. Mon Jul 13 2026
6. Jul 14JPM TECH SKETCH - Internet Q2 Earnings Preview Deck (META, GOOGL, AMZN, NFLX, SPOT, etc.), IBM Negative Pre, APP Plunges - Again. Tue Jul 14 2026
7. Jul 15JPM TECH SKETCH - UBER Advanced Talks with DHER.GY, CVNA Q2 Preview - Return to EBITDA-Unit Growth, IBM Positive for Security, LION Finally Getting Bo
8. Jul 17JPM TECH SKETCH - NFLX Q2 I Will Find You (a Lower Share Price), META Hires AMZN AWS Exec, NOW Q2 Preview - Organic Chemistry, GOOGL Gemini Pro 3.5 De
9. Jul 31JPM TECH SKETCH 2026 07 31
10. Aug 3JPM TECH SKETCH

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