Contracts and capital raises drive ASX tech week as platform build and IP buys steal the show

• InFocus Group Holdings (ASX:IFG) surged on completion of its Codexa sweepstakes casino platform
• Energy Technologies (ASX:EGY) jumped after locking up laser optics IP aimed at AR/VR and defence use cases
• Weebit Nano (ASX:WBT) raised fresh capital for ReRAM commercialisation, but the share price fell hard on dilution worries
• Several contract-led names advanced, including Ava Risk Group (ASX:AVA) and Etherstack (ASX:ESK)
• M&A and consolidation remained active, from Articore (ASX:ATG) in India to Activeport (ASX:ATV) via a partner buyout

InFocus Group Holdings (ASX:IFG) rocketed 71.43% after finishing Codexa, a sweepstakes casino platform it plans to license or possibly sell. Energy Technologies (ASX:EGY) followed with 41.18% on the purchase of Maradin’s laser optics IP for AR/VR and defence-style displays. The week’s biggest fall came from Weebit Nano (ASX:WBT), down -25.54%, even as it secured new funding to push its ReRAM memory technology toward wider use.

AI spending: deals are real, but prices still swing

Contracts and product rollouts kept drawing buyers, especially where revenue is easier to picture. Vection Technologies (ASX:VR1) renewed a $1.64 million annual recurring contract with a defence client using Dell AI appliances. Stakk (ASX:SKK) landed a A$7.85 million US contract tied to healthcare document processing, with 50% cash due by 31 March 2026. Still, some “good news” sessions turned messy once trading reopened. In plain terms: a stock can reopen higher after news, then sellers quickly take over and early gains evaporate. That matters to beginners because it shows the first price you see after an announcement is not always where the market settles.

Semis and edge computing: big cheques, then the dilution question

Weebit Nano (ASX:WBT) raised A$87 million across an A$80 million institutional placement and an Israeli placement, priced at A$4.05 a share, with a retail share purchase plan also flagged. Investors often sell after placements because more shares are created, which can reduce each existing share’s slice of the company unless growth arrives quickly. On the smaller end, Nanoveu (ASX:NVU) pitched its ultra-low-power edge AI chip strategy and 2026 sales goal, but the stock still ended down -6.35%. When a company is still moving from demos to first sales, the main risk is simple: the product may not convert into paid orders on the schedule investors want.

Memory recycling becomes a growth business

Sims Group’s Sims Lifecycle Services unit (ASX:SGM) is leaning into a structural shift in memory supply. With DDR4 production winding back, second-hand demand can rise because more buyers repair and reuse servers instead of buying brand new parts. SLS contributed about 40% of group EBIT in 1H FY2026, and management kept FY26 underlying EBIT guidance at A$165, 185 million. For newcomers: “capital-light” here means the business can grow without having to spend huge amounts on new factories. That can support profits, but it also depends on big customers (hyperscalers) continuing to refresh and decommission gear at scale.

M&A and partnerships: buying capability, not just headlines

Articore (ASX:ATG) agreed to buy India’s Frankly Wearing for US$0.9 million from cash, targeting a larger print-on-demand market and faster product rollout. Activeport (ASX:ATV) got a lift from industry consolidation after its partner Radian Arc was acquired by Submer, which may increase demand for Activeport’s GPU software licensing. In the cyber and critical-infrastructure lane, WhiteHawk (ASX:WHK) moved to shift leadership to Australia to chase Asia-Pacific growth tied to AUKUS-style compliance work. Ava Risk Group (ASX:AVA) also pushed higher 6.25% after contract wins and trials, including a perimeter intrusion detection trial at Melbourne Airport and panel inclusion with the Department of Home Affairs.

Funding round-up: cash now, questions later

Capital raises were a recurring tool this week. Spacetalk (ASX:SPA) fell -18.75% after announcing a $6 million placement at $0.06 to fund app development, inventory and mobile-network costs. Airtasker (ASX:ART) took a different route, securing $5 million of media value via a convertible note with Nine Entertainment that can turn into shares later at a discount. Not all funding was equity. Sparc Technologies (ASX:SPN) took a $680,000 advance against its expected FY26 R&D tax refund. That avoids immediate dilution, but it is still a loan that must be repaid from the rebate. On larger, steadier settings, PEXA Group (ASX:PXA) advanced 2.65% after getting NatWest live on its UK remortgage platform ahead of schedule. Catapult Sports (ASX:CAT) edged up 0.89% after pointing to FY26 ACV of US$133, 134 million and a roughly 50% lift in management EBITDA. Meanwhile, Qoria (ASX:QOR) slipped -6.67% despite its board again backing the proposed merger with Aura Consolidated Group, which reported US$238 million ARR and 30% revenue growth. For beginners, merger deals can drag prices around because the final outcome depends on votes and approvals, not just company performance.

Bottom Line?

The next near-term pressure points are calendar-based: Stakk (ASX:SKK) expects 50% cash receipt by 31 March 2026, while several deal-driven stories hinge on upcoming approvals, including Qoria’s (ASX:QOR) merger vote and Spacetalk’s (ASX:SPA) second placement tranche requiring shareholder approval in May. If these milestones land cleanly, the market will have clearer proof that this week’s announcements translate into cash, not just plans.

Questions in the middle?

• Will Weebit Nano’s (ASX:WBT) fresh funding translate into commercial ReRAM deals before investors lose patience with further cash burn?
• Can InFocus (ASX:IFG) turn Codexa into signed licensing customers, or does monetisation depend on a single platform sale?
• Do Ava Risk Group’s (ASX:AVA) trials and panels convert into firm purchase orders, and on what timetable?