Tech & Software · Week of Oct 26, 2026
AI spreads from banking to OCR and defense: the week in tech
AI featured across a Bahrain bank plan, open-source OCR models, defense cloud authorization and quarterly results from software and IT services firms.
AI was the common reference point in most of this week's releases. Mumtalakat and ARP Group said they plan an AI-native, blockchain enabled wholesale bank in Bahrain. ModelBest and OpenBMB open-sourced the MiniCPM-OCR document models. Appian said its Defense Cloud achieved IL5 authorization. Unisys said an AI-powered service desk and cloud migration for Cushman & Wakefield delivered more than $35 million in five-year savings. Mastech attributed its revenue growth to data and AI momentum.
Earnings and corporate actions made up the rest of the week. Coveo reported SaaS subscription revenue of $39.1 million and announced the acquisition of Anglera. FF EAI Robotics Ecosystem completed its acquisition of Faraday Future's robotics business. Palo Alto Networks recommended that stockholders reject a mini-tender offer from Tutanota LLC.
Bahrain EDB
On the Sidelines of Gateway Gulf 2026: Mumtalakat and ARP Group partner to establish an AI native wholesale bank in Bahrain
Bahrain Mumtalakat Holding Company and ARP Group announced on Nov. 1, 2026 a partnership to establish an AI-native, blockchain enabled wholesale bank in Bahrain, which has in-principle approval from the Central Bank of Bahrain. The bank is intended for regulated financial institutions, payment companies and cross-border businesses, with API-based services to be introduced in phases and regulated activities starting only after final authorisation.
ModelBest
ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control
ModelBest and OpenBMB released MiniCPM-OCR 1.0 (1.3B), a document parsing model, and MiniCPM-OCR Jev (2B), an OCR quality-assessment model, on GitHub, Hugging Face and ModelScope. The companies say Jev assigns confidence scores to text, LaTeX formulas and tables and can be added to existing OCR workflows without replacing the OCR engine; the models support vLLM, SGLang, llama.cpp and Ollama.
Coveo Solutions Inc.
Coveo Reports Second Quarter Fiscal 2027 Financial Results
Coveo reported second quarter fiscal 2027 SaaS subscription revenue of $39.1 million. The company also reported record new business bookings, including two seven-figure per year transactions, and announced the acquisition of Anglera, which it describes as an agentic product data enrichment engine.
Mastech Digital, Inc.
Mastech Reports Third Quarter 2026 Results
Mastech Digital reported third quarter 2026 results on Oct. 30, 2026. The company says it posted a second consecutive quarter of sequential revenue growth, led by data and AI work.
FF EAI Robotics Ecosystem Inc.
FF EAI Robotics Ecosystem Completed its Acquisition of the Robotics Business of Faraday Future, Establish Nasdaq-Listed Humanoid and Bionic Robotics Platform
FF EAI Robotics Ecosystem said it completed its acquisition of Faraday Future's robotics business, establishing a Nasdaq-listed humanoid and bionic robotics platform. The company expects October 2026 robot sales and shipments to exceed 300 units, which it says would be a monthly record bringing cumulative shipments to more than 1,100 units, at a positive unit gross margin.
Appian
Appian Defense Cloud Achieves IL5 Authorization Across Department of War Operations
Appian announced on Oct. 29, 2026 that the Appian Defense Cloud achieved Impact Level 5 authorization across Department of War operations. Appian says IL5 is the highest unclassified level of authorization, allowing it to deliver automation for mission-critical operations.
Palo Alto Networks, Inc.
Palo Alto Networks Recommends Stockholders Reject Mini-Tender Offer by Tutanota LLC
Palo Alto Networks said on Oct. 30, 2026 that it received notice of an unsolicited mini-tender offer from Tutanota LLC to purchase up to 250,000 shares. The company recommends that stockholders reject the offer.
Unisys Corporation
Unisys and Cushman & Wakefield Named Paragon Champions for Excellence at 2026 ISG Paragon Awards™
Unisys and client Cushman & Wakefield were named Paragon Champions for Excellence at the 2026 ISG Paragon Awards. Unisys says the cloud migration and AI-powered service desk behind the award delivered more than $35 million in five-year savings to the client.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Dragon Tech Demos reporting.