Asana, Inc. (ASAN) News & EventsASANNews & EventsAsana, Inc.

Workday in Acquisition Talks with Silver Lake, DocuSign Shares Up 6%

Shares of DocuSign (DOCU), Asana (ASAN), and HubSpot (HUBS) jumped in afternoon trading following a Reuters report on Workday (WDAY) being in acquisition talks with private equity firm Silver Lake. Reuters said Silver Lake is discussing a deal that would rank among the largest software buyouts in history. Workday is soaring nearly 22%, while DocuSign and Asana are up about 6%, and HubSpot is gaining roughly 11%.

Nvidia Partners with Safe Superintelligence for Long-Term Growth

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.INVESTMENT, PARTNERSHIP:Safe Superintelligence and Nvidiaannounced a long-term partnership to accelerate SSI's strategic growth. Nvidia has additionally made an investment in SSI. For SSI, Nvidia's substantial investment combined with access to the next-generation Nvidia Vera Rubin platform will allow SSI to increase its compute by an order of magnitude. The two companies will also collaborate on the technical advancement of Nvidia's current and future compute platforms, leveraging SSI's unique insights into the future of AI. For the last two years, SSI has been quietly advancing a new research direction to unlock a powerful and robustly aligned artificial intelligence. Nvidia entered this partnership to accelerate SSI's next stage of growth after obtaining rare access into the company's closely guarded research.$250B BACKSTOP:Nvidia is in discussions to provide $250B backstop for OpenAI for a data center project, Anissa Gardizy, Amrith Ramkumar, and Corrie Driebusch of The Wall Street Journal reports. This would help OpenAI lease a 10-gigawatt project that Softbank'ssubsidiary is developing in southern Ohio, people familiar with the matter told the Journal.CHINESE AI MODELS:OpenAI and Anthropic are urging U.S. regulators to restrict Chinese open-source AI models over intellectual property concerns, while Microsoft, Nvidia, and startup founders argue that open-source AI promotes innovation, security, and competition, The New York Times' Mike Isaac, Kate Conger, Ana Swanson, and Meaghan Tobin.AI-DRIVEN SOFTWARE DISPLACEMENT:RBC Capital notes that bear debates on AI and software center on three pillars, namely AI-built displacement of incumbent software; AI creating pricing pressure, due to lower barriers to entry; and disruption from AI-native vendors. While the firm acknowledges the latter two, it introduces its RBC Software TCO Calculator, available as an interactive dashboard, to better understand the first point. The key flaw behind the "AI replacing software" bear case is comparing the cost of building a custom solution versus the annual subscription costs from the vendor, RBC argues, saying that for a Total Cost of Ownership conversation, one needs to look at Build, Run, Maintain, Risk and Quality Gap. The firm applied its framework to 14 companies in its coverage universe, including Salesforce, Workday, HubSpot, Microsoft, Intuit, ServiceNow, Adobe, Shopify, Asana, DocuSign, ZoomInfo, Guidewire, Nice, and Veeva. The names with the greatest defensibility with RBC's dashboard are Microsoft, HubSpot, Intuit, Shopify, and Guidewire.AGENTIC AI CHIP DESIGN:Synopsysannounced new autonomous agentic AI workflows for chip design, developed in collaboration with Microsoftand available for evaluation on Microsoft Discovery. AI is fundamentally reshaping engineering, and Synopsys is building a comprehensive, open agentic AI stack to increase engineering autonomy and accelerate product design from silicon to systems. This week at the 2026 DAC Chips to Systems Conference, Synopsys is showcasing new fully autonomous workflows powered by AgentEngineer technology, extending agentic AI from task automation to long-running engineering execution. Synopsys, AMD, and Microsoft are enabling AI-powered design workflows that combine large-scale reasoning, domain expertise, and cloud-scale compute to accelerate the development of the next generation of AI infrastructure silicon. Today's milestone builds on the existing collaboration and previously announced agentic specification to RTL workflow, marking the first EDA applications available for evaluation on Microsoft Discovery. Customers can request evaluation access through Synopsys. AMD is actively evaluating the application of autonomous workflows to accelerate the development of their next-generation products.COLLABORATION:At the 2026 DAC Chips to Systems Conference, Synopsysannounced advancements to agentic AI for engineering in collaboration with Nvidia. Synopsys has developed fully autonomous, long-running agentic capabilities for chip design and electronics system design enabled with Nvidia Nemotron on Nvidia's accelerated computing platform and secured by the Nvidia OpenShell runtime. "AI is fundamentally reshaping engineering, and Synopsys is at the forefront of this transformation, enabling fully autonomous agents across every stage of silicon and systems development," said Ravi Subramanian, Chief Product Management Officer at Synopsys. "Our close collaboration with Nvidia continues to accelerate the development of next-generation AI technologies by combining Synopsys' domain expertise spanning EDA and CAE with Nvidia's advanced AI infrastructure and technologies. Together, we are enabling a new class of autonomous engineering workflows that elevate productivity, unlock deeper insights, and help customers innovate faster."UBER PARTNERSHIP:Alphabet'sWaymo is weighing options to split from its Uberpartnership, with the relationship between both parties souring amid an intense lobbying battle over the future of self-driving taxis, the Financial Times' Rafe Rosner-Uddin. The robotaxi company has held internal discussions about endings its current deals with Uber, which operates services in Austin and Atlanta, the author says, citing multiple people familiar with the matter. Waymo has already told Uber that it intends to enter these markets independently in January 2028 when their contract allows, the author notes.

Asana Short Interest Rises to 35.8%

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.3%, the Nasdaq Composite was down 0.3%, the Russell 2000 index was flat, the Russell 2000 Growth ETFwas flat and the Russell 2000 Value ETFwas down 0.2% in the four-day trading session range through June 4th.SHORT INTEREST GAINERSAs profiled here in mid-April, the workflow management company Asanahas continued to find itself at the epicenter of "SaaS-pocalypse", and while a better than feared Q1 earnings report and raised guidance on May 28th has emboldened traders looking for oversold value, the bears see the two-day 36% bounce as more of a "dead cat" variety. This week, Ortex-reported short interest on the stock hit fresh record high, rising from 32.6% to 35.8%, with the earnings event related spike in volume pressuring days-to-cover to stay unchanged at 5.0. The stock was up 21% in the five-day period covered through Thursday, but the retreat in overall Tech space on Friday saw Asana shares slip 3%. The stock is now down 43% year-to-date.Ortex-reported short interest in Grouponhad been sloping upward gradually since the start of the year and through April, rising from 37% to about 48%. A bout of volatility in mid-April and a post-earnings jump in the stock price on May 8th coincided with a meaningful pickup in short positioning. This week however, despite shares falling 13% in the five-day period covered through Thursday and another 11% on Friday, bears are still positioning for a deeper retracement. Short interest as a percentage of free float hit new record highs, rising from 54.9% to 66.8%. Similarly to Asana, in spite of record highs in short interest, the sustained increased in trading activity has pressured the days-to-cover component from 6.5 to 6.3 – a six-month low.Ortex-reported short interest in Pagaya Technologiestroughed at a two month low of 21.1% late last week but bounced relatively sharply this week, jumping from 22.1% to 24.5% - the highest level in about 8 months. With trading volume largely steady, days-to-cover on the name rose from 4.3 to 4.8 – a one-year high. Meanwhile, the stock price for the AI-driven fintech continues to respect the mid-March bottom, trading in a sideways pattern for much of the past four months. This is a welcome change from the more pronounced sell-off to start the year -while Pagaya was up about 11% in the five-day period covered through Thursday, taking into account Friday's 6% slide, the stock is still down 30% year-to-date.SHORT INTEREST DECLINERSOrtex-reported short interest in Wolfspeedpeaked at extreme short positioning levels of over 130% - notably the top of our screen for stocks with outsized short interest and at least $1B in market cap – on May 27th, roughly coinciding with the peak in the stock price that capped a five-fold rally in a span of only about two months. With shares retrenching however, the bears are quick to book profit with a "tight leash" on exposure. This week, short interest as a percentage of free float in Wolfspeed fell from 131.1% to 112.5% and days-to-cover slipped from 6.0 all the way down to 4.7. Prior to Friday's 18% drop, the stock was still up about 3% in the five-day period covered, though year-to-date, Wolfspeed stock price accumulation of 216% is still considerable.