From the courtroom to the boardroom, it was a big week for tech investors.

The resolution of Google’s antitrust case led to sharp rallies for Alphabet and Apple. Broadcom shareholders cheered a new $10 billion customer. And Tesla’s stock was buoyed by a freshly proposed pay package for CEO Elon Musk.

Add it up, and the U.S. tech industry’s eight trillion-dollar companies gained a combined $420 billion in market cap this week, lifting their total value to $21 trillion, despite a slide in Nvidia shares.

Those companies now account for roughly 36% of the S&P 500, a proportion so great by historical standards that Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, told CNBC by email, “there are no comparisons.”

There was a certain irony to this week’s gains.

Alphabet’s 9% jump on Wednesday was directly tied to the U.S. government effort to diminish the search giant’s market control, which was part of a years-long campaign to break up Big Tech. Since 2020, Google, Apple, Amazon and Meta have all been hit with antitrust allegations by the Department of Justice or Federal Trade Commission.

A year ago, Google lost to the DOJ, a result viewed by many as the most-significant antitrust decision for the tech industry since the case against Microsoft more than two decades earlier. But in the remedies ruling this week, U.S. District Judge Amit Mehta said Google won’t be forced to sell its Chrome browser despite its loss in court and instead handed down a more limited punishment, including a requirement to share search data with competitors.

The decision lifted Apple along with Alphabet, because the companies can stick with an arrangement that involves Google paying Apple billions of dollars per year to be the default search engine on iPhones. Alphabet rose more than 10% for the week and Apple added 3.2%, helping boost the Nasdaq 1.1%.

Analysts at Wedbush Securities wrote in a note after the decision that the ruling “removed a huge overhang” on Google’s stock and a “black cloud worry” that hung over Apple. Further, they said it clears the path for the companies to pursue a bigger artificial intelligence deal involving Gemini, Google’s AI models.

“This now lays the groundwork for Apple to continue its deal and ultimately likely double down on more AI related partnerships with Google Gemini down the road,” the analysts wrote.

Mehta explained that a major factor in his decision was the emergence of generative AI, which has become a much more competitive market than traditional search and has dramatically changed the market dynamics.

New players like OpenAI, Anthropic and Perplexity have altered Google’s dominance, Mehta said, noting that generative AI technologies “may yet prove to be game changers.”

On Friday, Alphabet investors shrugged off a separate antitrust matter out of Europe. The company was hit with a 2.95-billion-euro ($3.45 billion) fine from European Union regulators for anti-competitive practices in its advertising technology business.

Gotham Advanced Media and Entertainment, the joint venture between MSG Networks and the YES Network, is launching a new app in the fall that will air local games for seven New York area teams.

The package announced Wednesday is believed to be the first time that two regional sports networks have combined their apps into a bundled option.

The Gotham Sports app will launch ahead of the NBA and NHL seasons. Locals will be able to watch the New York Knicks, New York Rangers, New Jersey Devils, New York Islanders, Buffalo Sabres, Brooklyn Nets and New York Yankees with a subscription.

The Gotham Package that gives access to all of those teams will cost $359.99 annually and $41.99 monthly, almost identical to the monthly price of Fox, Disney and Warner Bros. Discovery‘s joint Venu streaming service that was blocked with a temporary injunction earlier this month. 

Customers who watch only some of those teams can also purchase access to just MSG+ or the YES App services for $29.99 and $24.99 monthly, respectively. If they already have MSG Networks and YES Network via their pay-TV subscription, they will get Gotham Sports App’s services for no extra fee.

“With the increased fragmentation of outlets carrying fan favorite sports programming, The Gotham Sports App allows fans of our teams one easy access point for New York area sporting events from MSG Networks and the YES Network,” MSG Networks President and CEO Andrea Greenberg said in a press release.

Notably, SportsNet New York — the regional sports network that airs the New York Mets — is not included in this joint venture. It is only available via FuboTV, DirecTV stream and online login for people who pay for cable. 

Sterling Entertainment Enterprises, Comcast and Charter co-own SportsNet New York.

The regional sports networks business has undergone dramatic changes in recent years. Boston’s local cable network that aired Red Sox and Bruins games launched the first stand-alone regional streaming service in 2022, and other markets have followed. 

Diamond Sports Group, the biggest owner of regional sports networks, filed for bankruptcy in March 2023, leading many professional teams across leagues to change the way they air their games.

A handful of NBA, WNBA and NHL teams have turned to local broadcasters, most recently the NBA’s New Orleans Pelicans and Dallas Mavericks.

Some MLB teams have opted to have their games produced by the league. 

The Gotham Sports App is not the first regional sports streaming option residents of the greater New York area have had. YES Network and MSG Networks both launched separate streaming services last year, and customers who only want one of the networks’ services and not the combined package can still pay a cheaper rate.

Not all the new regional sports streaming services follow the subscription model. The NHL’s Dallas Stars and Anaheim Ducks both announced their games would be locally aired on Victory+, a free, ad-supported streaming service owned by A Parent Media Co. 

Both teams previously had their local games carried by a regional sports network owned by Diamond Sports. 

Disclosure: Comcast is the parent company of CNBC.

Disney reported its fiscal third-quarter earnings Wednesday, topping analyst estimates as its combined streaming businesses turned a profit earlier than expected.

Here is what Disney reported compared with what Wall Street expected, according to LSEG:

• Earnings per share: $1.39 adjusted vs. $1.19 expected
• Revenue: $23.16 billion vs. $23.07 billion expected

The company’s total segment operating income increased 19% to $4.225 billion compared with the same period last year, led by the positive results for Disney’s entertainment unit, particularly streaming. 

Disney’s combined streaming business, which consists of Disney+, Hulu and ESPN+, turned a profit for the first time — and it happened a quarter earlier than the company had expected.

Executives on Wednesday’s earnings call touted the progress of Disney’s streaming business toward profitability, a goal for all media companies as they look to chase customers switching to streaming. CEO Bob Iger also praised the recent successes of the company’s film and TV slates as propelling that business forward.

The combined streaming business posted an operating profit of $47 million compared with a loss of $512 million in the same quarter last year. However, without ESPN+, the direct-to-consumer streaming unit reported a loss of $19 million.

Meanwhile, in May, Disney highlighted a slightly different metric, noting that Disney+ and Hulu together turned a profit, but when combined with ESPN+, the streaming businesses suffered a loss.

Disney recently changed how it reports its segments, with ESPN falling under its sports unit, and Disney+ and Hulu being counted as part of the direct-to-consumer entertainment segment.

Disney+ Core subscribers — which excludes Disney+ Hotstar in India and other countries in the region — increased by 1% to 118.3 million, despite the company’s earlier guidance that it wouldn’t add new customers during the fiscal third quarter. Total Hulu subscribers grew 2% to 51.1 million.

Revenue for the entertainment segment was up 4% to $10.58 billion, driven largely by subscription revenue growth due to price increases and customer growth for Disney+ Core. Revenue for the traditional TV networks was down 7%.

The company announced further streaming price hikes on Tuesday.

“We’re seeing growth in consumption and the popularity of our offerings, which gives us the pricing leverage we believe we have,” Iger said on Wednesday’s call, noting that Disney hasn’t seen customers losses it would “consider significant” when it has increased prices in the past.

In addition to adding TV and film content to its streaming platforms, Iger said Disney plans to make advancements to technology features on its platforms, as well as add live channels in the upcoming months. Iger also noted Disney’s upcoming crackdown on password sharing, following Netflix‘s lead in a bid to grow profitability.

He said the various bundles that Disney is partaking in — from its own services to teaming up with Warner Bros. Discovery and Fox Corp. on other bundles — are an effort to stem subscriber losses.

“I feel very bullish about the future of this business,” Iger said during the call. “We’re not saying much more about it, except you can expect it to grow nicely in fiscal 2025.”

Disney’s overall revenue increased 4% to $23.155 billion compared with the same period last year.

Revenue for ESPN’s domestic and international business — excluding Star India revenue — increased by 5%, largely due to a big uptick of 17% in domestic advertising, as well as growth in subscription revenue. The ad market has started to rebound in recent quarters, particularly for digital and streaming. ESPN’s operating income was up 4% to $1.09 billion.

Disney CFO Hugh Johnston said on the call Wednesday that the ad market is “really healthy and strong for us,” namely because of Disney’s live sports portfolio and streaming services.

“The portfolio is working well,” Johnston said in an interview. “Yes there was softness in the domestic parks, but the entertainment division’s profit tripled in the quarter.” 

“Barbenheimer” is off to a red-hot start at the domestic box office.

One-half of the viral internet meme, “Barbie,” snared $22.3 million in Thursday night preview tickets, the most of any film released so far in 2023 – topping the $17.4 million bow of Sony’s “Spider-Man: Across the Spider-Verse.”

The R-rated, three-hour “Oppenheimer,” meanwhile, tallied $10.5 million from Thursday showings. That’s in line with big releases such as 2017’s “Wonder Woman” and this year’s live action “The Little Mermaid.”

Heading into the weekend, Warner Bros.’ “Barbie” is expected to capture upwards of $140 million, if not more, over its first three days in theaters. Meanwhile, Universal’s “Oppenheimer” appears destined to snare at least $50 million, with some box office analysts expecting it could top $60 million.

The two films could together generate $200 million over their opening frame. With additional ticket sales from “Mission: Impossible — Dead Reckoning Part One,” “Spider-Man: Across the Spider-Verse” and “Sound of Freedom,” it could be the highest-grossing weekend of the year so far.

This excitement is much needed for the domestic box office after a string of recently released big-budget movies, such as “The Flash” and “Indiana Jones and the Dial of Destiny,” fell short of expectations.

Major movie chains have indicated that ticket sales are strong for both films this weekend and additional shows have been added to accommodate demand.

Some 40,000 AMC Theatre loyalty program members have purchased tickets to see Barbie and Oppenheimer on the same day and the National Association of Theatre owners project that more than 200,000 moviegoers will attend same-day viewings of the two films.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.

The Pentagon said Wednesday that Amazon, Google, Microsoft and Oracle received a cloud-computing contract that can reach as high as $9 billion total through 2028.

The outcome of the Joint Warfighting Cloud Capability, or JWCC, effort is in line with the U.S. Defense Department’s effort to rely on multiple providers of remotely operated infrastructure technology, as opposed to relying on a single company, a strategy promoted during the Trump Administration.

A Department of Defense spokesperson told CNBC by email that “JWCC is a multiple award procurement composed of four contracts with a shared ceiling of $9 Billion.” 

An increasing tally of businesses have also sought to rely on more than one cloud provider. In some cases they rely on specialized capabilities on one and the majority of front-end and back-end workloads on another. At other times, they come down to cost. Having more than one cloud might make organizations more confident that they can withstand service disruptions brought on by outages.

Originally, the Pentagon had awarded the Joint Enterprise Defense Infrastructure, or JEDI, to Microsoft in 2019. A legal battle ensued as Amazon, the top player in the cloud infrastructure market, challenged the Pentagon’s decision. Oracle challenged the Pentagon’s pick as well.

In 2020, the Pentagon’s watchdog conducted a review and ruled that there was no evidence to conclude that the Trump Administration had intervened in the process of awarding the contract. Months later the Pentagon announced it would stick with Microsoft for the JEDI deal.

Last year the Pentagon changed its approach, asking for bids from Amazon, Google, Microsoft and Oracle to address cloud needs. But the General Services Administration stated at the time that only Amazon and Microsoft seemed to be able to meet the Pentagon’s requirements.

Wednesday’s result is a boon in particular for Oracle, which analysts don’t see in the top tier of companies offering cloud-based computing services. Oracle generated $900 million in cloud infrastructure revenue in the quarter that ended Aug. 31, a small fraction of the $20.5 billion total for Amazon’s cloud subsidiary, Amazon Web Services, in the third quarter.

All four of the technology companies have won indefinite delivery, indefinite quantity, or IDIQ, contracts, meaning that they can involve an indefinite amount of services for a specific period of time.

“The purpose of this contract is to provide the Department of Defense with enterprise-wide globally available cloud services across all security domains and classification levels, from the strategic level to the tactical edge,” the Defense Department said.

Correction: A prior version of this story said each company was awarded a contract of up to $9 billion, but that number represents the combined total for the four.

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