Key HighlightsDefense giant RTX’s Raytheon unit secures a massive $22.9 billion, seven-year agreement to significantly expand Tomahawk cruise missile manufacturingMemory chip manufacturers Micron and Sandisk surged approximately 6% and 11% respectively, driven by robust AI infrastructure demandNvidia and AI sector stocks climbed following Anthropic’s ambitious revenue projection of up to $200 billion by 2028L3Harris shares declined after the defense company’s CEO Christopher Kubasik was dismissed following an internal compliance investigationMarket expectations for a Federal Reserve rate increase in September plummeted from 55% to 31% following weaker economic indicatorsRTX Secures Historic $22.9 Billion Tomahawk Missile ContractRTX’s Raytheon business unit has clinched a substantial $22.9 billion contract spanning seven years from the United States military to significantly scale up Tomahawk cruise missile manufacturing capabilities.According to the agreement terms, Raytheon will dramatically expand its production capacity from approximately 60 missiles annually to over 1,000 units per year.This major defense contract represents a critical component of the Pentagon’s strategic initiative to replenish weapons inventories and enhance America’s missile manufacturing infrastructure.Memory Chip Stocks Surge on Artificial Intelligence Infrastructure DemandMemory chip stocks experienced substantial gains during Monday’s trading session, with Micron advancing approximately 6% while Sandisk registered an impressive 11% increase.Additional memory sector players including Western Digital and Seagate also posted gains as market sentiment strengthened around AI-powered memory chip demand.Artificial intelligence data centers require substantial quantities of high-performance memory components to operate efficiently alongside GPU processors, positioning Micron as a primary beneficiary of the expanding AI hardware infrastructure.Market participants are increasingly optimistic that the memory industry may experience an extended period of favorable pricing dynamics, potentially breaking the traditional cyclical pattern.Anthropic’s Ambitious Revenue Projections Boost NvidiaNvidia alongside other artificial intelligence stocks experienced upward momentum following the emergence of fresh information regarding Anthropic’s anticipated expansion trajectory.Reports indicate the AI firm is projecting revenue between $190 billion and $200 billion by 2028, representing dramatic growth from its current annualized revenue rate of approximately $47 billion disclosed during the earlier part of this year.Should these projections materialize, the sustained demand for GPU processors, server infrastructure and data center resources could maintain elevated levels throughout the coming years.Nvidia emerges as among the most direct beneficiaries if Anthropic along with similar companies maintain this aggressive scaling trajectory.L3Harris Leadership Shakeup Following Internal InvestigationL3Harris shares declined Monday following the defense contractor’s announcement of the immediate exit of Chairman and Chief Executive Officer Christopher Kubasik.The organization stated that an internal compliance review identified behavior inconsistent with its established code of conduct standards. The company emphasized the matter did not impact financial reporting accuracy, operational performance or customer partnerships.Sam Mehta, who previously led the organization’s Space and Mission Systems division, has been appointed as the new Chief Executive Officer.Despite the executive transition, L3Harris maintained its 2026 financial guidance, which helped moderate negative market sentiment.Federal Reserve Rate Hike Probability Drops SignificantlyFinancial markets are currently assigning approximately a 31% probability to a Federal Reserve rate hike occurring in September, representing a notable decline from the 55% likelihood priced in during the previous week.This shift follows the release of softer inflation metrics, disappointing retail sales figures, and emerging indicators suggesting labor market deceleration.A Reuters economic survey conducted between August 12 and 17 revealed most economists anticipate the Federal Reserve will maintain its benchmark rate within the 3.50% to 3.75% range through the conclusion of 2026.Reduced interest rate expectations typically provide support for technology and growth stock valuations, creating an additional positive catalyst alongside continuing artificial intelligence sector enthusiasm.The post Market Movers: RTX (RTX) Secures $22.9B Defense Contract, AI Demand Drives Memory Chip Surge appeared first on Blockonomi.