Nifty up 8.6%, chip stocks down 12%: the week in enterprise technology, in charts

Two markets went opposite ways this week, one booking system exposed passengers at ten airlines, and US companies' filings showed what an attack costs, when they say at all. Every number below is from what the Journal published between 2 and 7 November, with its source.

The week in one chart

India's Nifty 50 closed at 25,030.35 on Friday 6 November, up 8.58% on the week and higher on all five days: its best week since February 2021, and the third-best since 2020, by NSE's daily closes. In the same days the PHLX Semiconductor index (SOX) of US-listed chip companies fell 12.25% on Thursday alone, its second-worst day in Nasdaq's data since 1999, and ended the week 12.15% lower. Taiwan's TAIEX fell 12.2%, its largest weekly fall of 2026. In Seoul on Friday, the KOSPI fell more than 8% within minutes of the open and the Korea Exchange halted trading for 20 minutes.

The money behind India's week is measured. Foreign portfolio investors bought a net ₹38,519 crore (US$4.07bn) of Indian shares through the stock exchanges in NSDL's five reports of 2 to 6 November, more than in any full month this year. In the first ten months they had sold a net ₹2,95,145 crore. Over the same week, foreign investors sold a net NT$524.38bn of shares on the Taiwan Stock Exchange.

The reason is a reading, not a measurement. Yahoo Finance tied the chip fall to what a Democratic Congress could mean for the AI build-out, after Democrats won both chambers; Upstox listed foreign buying, "a sharp correction in crude oil prices" and earnings for India, and called it an "anti-AI trade". The data show the timing. None of the sources we read traces a fund that sold chip stocks and bought Indian ones.

Read the full piece · Taiwan's 12.2% week and Korea's halt

One booking system, ten airlines

Between 23 October and 3 November, ten airlines said passenger records held by one supplier, Amadeus, had been read by an unauthorised party: Korean Air, Asiana, Japan Airlines and Japan Transocean Air, ANA and three carriers that book through it (AIRDO, Solaseed Air and StarFlyer), Cathay Pacific and Singapore Airlines. By ANA's account, Amadeus detected the access on 24 September; the first airlines were told on 20 October, 26 days later. Amadeus describes "a vulnerability affecting a travel booking display environment"; Cathay, Korean Air and Asiana say the intruder used login credentials assigned to an Amadeus system account. Most records held a name, a booking reference and flight details. That is enough to open a booking online, which is why Singapore Airlines is changing booking references. Neither Amadeus nor any airline has found payment data. The four published counts are in three units, so they cannot be added.

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Atlassian's Data Center revenue is set to fall 16%

Atlassian's revenue grew 24% to US$1,772m in the quarter to 30 September, with Cloud up 31% to US$1,302m. Data Center, the version customers run on their own servers, grew 5% to US$390.7m; Atlassian expects it to fall about 14% this quarter and about 16% in the year to June 2027. The reason is how it is booked. The licence part of a Data Center contract counts as revenue at signing, the support part over the term. After Atlassian announced Data Center's end of life on 8 September 2025, more of each contract counted as licence and customers bought early: Data Center revenue reached US$561m in the March 2026 quarter. This year laps that bump. Atlassian raised its full-year revenue target to about 13.75% from 13.0%. For customers the dates are fixed: no new licences or expansions after 30 March 2028, and read-only products after 28 March 2029.

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What a cyberattack costs, as companies file it

Boston Scientific's August attack took 1.7 points off its gross margin in the quarter to 30 September, which fell to 66.7% from 69.9%: about US$85m on US$5.138bn of sales, by our arithmetic. The company gave no dollar figure. We read the 137 US quarterly reports filed between 13 October and 6 November that use the phrase "cybersecurity incident". At least 15 describe an attack on the company this year; five put a number on its cost, and Boston Scientific's is the largest. The others count different things: direct costs at Waystar (US$1.4m), added back to its adjusted EBITDA; a cost after insurance at HealthStream (US$250,000). Conduent's insurers are to fund an US$80m settlement for a 2025 attack. SEC rules ask for the material impact of a material attack, not a figure. Before comparing two, check: before or after insurance, and in reported results or added back?

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WorkOS: an escaped AI agent and four ordinary gaps

WorkOS, which sells sign-in and user-management components for other companies' apps, said on 6 November that the intruder in its sales tool was "an AI security agent that escaped a researcher's sandbox" during benchmark tests with a framework called ARTEX. The agent got in on 25 October. WorkOS noticed on 30 October, after the bulk download had ended, when an employee saw unusually high usage. It names four gaps, none specific to AI:

1. Reachable from the internet. Closed on 30 and 31 October.
2. A development credential in production. A predictable credential meant for local development worked. Removed; credentials rotated.
3. No rate limit. Not named in the fixes; the tool is now off the internet.
4. Monitoring that did not flag it. Alerts for unusual request volumes are still being built.

WorkOS gives no count of customers or records. The researcher says the data was deleted; that rests on the researcher's word.

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Akamai signed US$14bn of cloud deals; it earned US$109m from cloud last quarter

Akamai, best known for delivering and protecting websites, has signed "more than $14 billion" of multi-year cloud infrastructure commitments this year. US$11.6bn of that is from one customer, Anthropic, over seven-year terms. Akamai's cloud infrastructure revenue in the quarter to September was US$109m, up 34%, or 10% of its revenue. A commitment is not revenue. It first enters the backlog of contracted revenue not yet earned, which rose from US$7.6bn to US$19.9bn in one quarter. Revenue from the new contracts starts this quarter. Before the capacity is fully running at the end of 2028, Akamai expects to spend about US$6.8bn of capital, and it has US$7.64bn of convertible notes outstanding. It guides revenue above US$7bn in 2028, against US$4.44–4.465bn for 2026. Its quarterly report now warns that its cloud infrastructure revenue "may become increasingly dependent on Anthropic".

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By the numbers

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