Waterloo, Ontario (AP) — BlackBerry Ltd. shares climbed sharply on Friday, trading near $8.83 and extending a powerful rally that has seen the stock hit multiple 52-week highs this week, as investors bet on the company’s entrenched position in automotive software and emerging opportunities in physical artificial intelligence.

The NYSE-listed shares (BB) rose about 0.57% in morning trading on May 29, continuing gains that pushed the stock up more than 60% in the past month. Volume has been elevated, reflecting heightened retail and institutional interest in the former smartphone maker’s transformation into a cybersecurity and embedded software provider.

BlackBerry has shed its consumer hardware roots to focus on two main divisions: QNX, its real-time operating system widely used in vehicles and industrial systems, and Secure Communications, centered on mission-critical government and enterprise tools. The shift has produced consistent profitability improvements, with the company posting its eighth consecutive quarter of GAAP profitability in its fiscal fourth quarter ended February 2026.

QNX Powers Growth in Vehicles and Robotics

QNX remains the crown jewel. The software runs in more than 275 million vehicles globally and posted record revenue of $78.7 million in the fiscal fourth quarter, up 20% year-over-year. The division’s royalty backlog swelled to nearly $950 million, according to company disclosures.

A new QNX-commissioned study released this week underscored growing demand. The research, surveying 1,000 robotics developers, found that 89% view physical AI as critical to their future strategy. Software architecture and integration emerged as the top performance bottleneck for 27% of respondents, outpacing hardware concerns at 16%.

“Hardware advances are no longer the bottleneck; software now leads,” the report emphasized, highlighting needs for deterministic real-time performance and safety in mixed-criticality systems.

Analysts and industry observers see QNX benefiting from the rise of software-defined vehicles and autonomous systems. Partnerships, including expanded collaboration with Nvidia for AI platforms, position BlackBerry to capture royalties as vehicles become more intelligent.

Secure Communications Gains Federal Backing

BlackBerry’s Secure Communications segment also advanced. In mid-May, the company announced that its AtHoc emergency notification platform achieved FedRAMP Class D (High) re-certification, the U.S. government’s highest standard for handling sensitive unclassified data.

The certification supports growing demand from federal agencies for reliable crisis communications. BlackBerry AtHoc is used by about 80% of U.S. federal government organizations for emergency alerts.

In the fiscal fourth quarter, Secure Communications revenue rose 8% to $72.5 million, with annual recurring revenue reaching $218 million.

Financial Turnaround and Capital Returns

For the full fiscal 2026 year, BlackBerry reported revenue of $549.1 million, up 3% from the prior year. Adjusted EBITDA rose sharply, and net income turned positive at $53.2 million compared with a loss in the previous fiscal year.

The company has initiated share repurchases, including a $100 million program announced earlier, signaling confidence in its valuation and cash generation.

Fiscal first-quarter 2026 results, covering the period ended May 2026, are scheduled for release around June 25. Investors will watch for continued QNX momentum and guidance updates.

Market Reaction and Analyst Caution

The rally has drawn attention. Shares have more than doubled year-to-date in some periods of strong momentum, fueled by options activity, social media buzz, and optimism around AI-adjacent software.

However, Wall Street maintains a largely Hold consensus. The average 12-month price target sits around $4.88 to $5.22 from multiple analysts, suggesting potential downside from current levels if growth expectations are not met. Targets range from lows near $4.40 to highs around $6.00 to $8.50 in more optimistic cases.

Concerns include execution risks in a competitive software market, dependence on automotive cycles, and valuation multiples that have expanded rapidly. BlackBerry trades at a premium on forward earnings compared with some software peers.

Company Background and Strategy

Founded in 1984 in Waterloo, Ontario, BlackBerry pioneered secure mobile communications but struggled as smartphones commoditized. Under CEO John Giamatteo, the company has streamlined operations, separated divisions internally, and emphasized high-margin, recurring revenue streams.

CFO Tim Foote has highlighted progress in margins and profitability. Gross margins have improved, with adjusted figures reaching the high 70s in recent quarters.

BlackBerry’s QNX holds a strong reputation for reliability in safety-critical environments, from cars to medical devices and now robotics. Its deterministic real-time capabilities make it suitable for systems where failure is not an option.

Broader Industry Context

The surge aligns with investor enthusiasm for AI infrastructure plays. While much attention focuses on chips and large language models, the “physical” layer — robots, vehicles, industrial automation — requires secure, real-time operating systems. BlackBerry’s decades of experience in regulated industries give it an edge.

Global supply chain resilience and cybersecurity threats further support demand for trusted platforms. BlackBerry’s heritage in secure communications complements its embedded systems business.

Outlook

With fiscal 2027 revenue expected to grow in the mid-single digits or better according to some forecasts, BlackBerry aims to sustain momentum. Upcoming investor events and potential new partnerships could provide further catalysts.

The stock’s volatility remains high, typical for a smaller-cap technology name with a shifting business model. Traders should monitor volume, options flows, and any pre-earnings commentary.

BlackBerry’s revival story reflects broader themes in tech: legacy companies leveraging deep domain expertise to pivot into high-growth niches. Whether the current rally proves sustainable will depend on delivering consistent results and capitalizing on the software-defined future of machines.

This article was written by

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New Delhi: India and Canada have launched a trade and investment forum to bring together businesses from both countries to promote commercial engagement, the government said on Friday after commerce and industry minister Piyush Goyal concluded a three-day visit to the country.

The two sides also agreed to enhance connectivity, including people to people ties, business mobility and direct commercial linkages, as essential enablers of expanded trade and investment.

Goyal held a series of meetings with business leaders, besides a bilateral meeting with Canada’s international trade minister Maninder Sidhu, during the May 25-28 visit.

“The Ministers launched the Canada-India Trade and Investment Forum as a key platform that brings together Canadian and Indian business leaders and fosters new commercial partnerships and increased business engagement,” commerce and industry ministry said in a statement.

India and Canada reiterated their commitment to advancing an ambitious and mutually beneficial comprehensive economic partnership agreement and affirmed their shared objective of concluding negotiations by the end of this year.

Sidhu confirmed that Canada will send a Team Canada Trade Mission to India later this year, according to the statement.
“Canada and India agreed to continue encouraging long term, high quality investment in priority sectors and to support deeper collaboration between businesses, innovators, and institutional partners in both countries,” it said.US trade
Goyal engaged with more than 50 prominent business and industry leaders at a closed-door roundtable discussion in New York City. In a post on X, he said the discussions focused on expanding partnerships across trade, investment, innovation and supply chains to drive shared prosperity between the two nations. “Goyal held a series of high-level business and investment engagements in New York on 28 May 2026 during his transit through the city,” the ministry said. His visit to the US comes ahead of an American team’s visit to India from June 1-4 to finalise details of the interim trade pact and take forward negotiations under the broader bilateral trade agreement on various areas such as market access, non-tariff measures and customs facilitation.

“Discussed ways to further deepen India-US trade, investment, innovation, and supply-chain partnerships for shared prosperity,” Goyal said in a post on X.

The minister also held bilateral talks with leading industry heads. During his meeting with Morgan Stanley chairman and CEO Ted Pick, the discussions focused on strengthening long-term investments and institutional partnerships in India, while exploring how the investment bank and financial services firm can leverage the immense opportunities emerging across sectors in India.

With Warburg Pincus chairman Chip Kaye, Goyal exchanged views on the evolving global investment landscape and India’s emergence as a key driver of growth and innovation, while with Amneal Pharmaceuticals co-founder and co-CEO Chintu Patel, he discussed investment opportunities in India’s pharmaceutical sector and avenues for deeper collaboration to boost innovation in India.

Operator

Good afternoon, and welcome to Nextpower’s investor conference call to discuss today’s announcement. That Nextpower has entered into a definitive agreement to acquire Prevalon Energy. Today’s call is being webcast live, and a replay will be available on the Investor Relations section of Nextpower’s website.

The press release and accompanying investor presentation are also available on the Investor Relations website. I will now turn the call over to Ms. Sarah Lee, Head of Investor Relations.

Sarah Lee
Head of Investor Relations

Thank you. Before we begin, I would like to remind everyone that today’s remarks will include forward-looking statements, including statements regarding the proposed acquisition of Prevalon Energy, the expected timing and completion of the transaction, the anticipated benefits of the acquisition, expected strategic, operational and financial impacts integration plans, market opportunities, customer demand, product capabilities and other expectations regarding future performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

These risks include, among others, the possibility that the transaction may not close on the expected time line or at all, the failure to obtain required approvals or satisfy closing conditions, integrated risks, market and customer demand, supply chain and execution risks and other risks described in Nextpower’s filings with the SEC.