Key Highlights
- Nvidia (NVDA) stock advanced after exceeding Q1 projections and projecting $91 billion in quarterly revenue
- Applied Digital shares jumped approximately 10% following the announcement of a massive 15-year, $7.5 billion AI data center agreement with a hyperscaler client
- Intuit shares tumbled roughly 14% after revealing plans to eliminate 17% of its workforce, even as the company increased full-year projections
- e.l.f. Beauty climbed about 9% on the back of impressive quarterly performance with net sales growing 35%
- NIO gained 2.5% as the company’s Q1 losses decreased and revenue surged more than double compared to last year
Nvidia (NVDA) stock posted gains after delivering first-quarter results that exceeded Wall Street’s projections. The artificial intelligence semiconductor giant provided guidance indicating $91 billion in revenue expectations for the upcoming quarter, significantly surpassing analyst consensus.
In premarket activity, shares advanced roughly 0.3%. Nvidia currently holds the position as the world’s most valuable company by market cap.
The impressive performance reflects ongoing robust demand for artificial intelligence computing infrastructure, which continues propelling sales of Nvidia’s semiconductor products throughout global data center operations.
Applied Digital experienced a significant rally of nearly 10% following disclosure of a 15-year take-or-pay lease contract with a U.S.-based investment-grade hyperscaler customer. The arrangement centers on the company’s Polaris Forge 3 AI campus facility.
The guaranteed base revenue from this agreement totals approximately $7.5 billion, with maximum potential value climbing to $18.2 billion when including additional options. According to Applied Digital, this transaction elevates its cumulative contracted lease revenue to roughly $31 billion spanning four campus locations.
Intuit Shares Plunge Despite Improved Financial Outlook
Intuit experienced a sharp decline of approximately 14% in premarket sessions after validating intentions to reduce its full-time employee base by 17%. Company leadership characterized the reductions as part of a strategic reorganization focused on operational efficiency.
The financial software provider estimates restructuring expenses between $300 million and $340 million. CEO Sasan Goodarzi clarified in statements to Barron’s that artificial intelligence played “no bearing” in the workforce decision.
Notwithstanding the layoff announcement, Intuit delivered fiscal third-quarter performance exceeding analyst expectations and elevated both earnings and revenue projections for the full year beyond Street consensus. The organization additionally authorized a substantial $8 billion stock buyback program.
e.l.f. Beauty shares rose approximately 9% after publishing fiscal fourth-quarter results that surpassed expectations. Net sales expanded 35%, powered by strong performance from its Rhode and Naturium brand portfolios.
Adjusted earnings per share reached $0.32, topping estimates. Management issued fiscal 2027 guidance marginally below Wall Street forecasts, attributing the conservative outlook to elevated fuel expenses.
Additional Market Movers: NIO, Deere, Walmart, and Others
NIO’s American depositary receipts climbed 2.5% after the Chinese EV manufacturer disclosed that its first-quarter losses contracted compared to the prior-year period. Revenue expanded by more than 100% versus the same quarter last year.
Deere declined 1.9% following its fiscal second-quarter report showing sales and revenue increasing 5% to reach $13.37 billion. Earnings per share of $6.55 fell short of last year’s figure but exceeded analyst projections of $5.70.
Walmart edged marginally lower in anticipation of its fiscal first-quarter earnings release. Market participants are monitoring for indicators of consumer behavior as gasoline prices have climbed.
Nebius shares appreciated approximately 8% after disclosing a fuel cell capacity partnership with Bloom Energy valued at up to $2.6 billion in aggregate monthly service charges. The agreement will provide approximately 250 megawatts of secured power capacity supporting Nebius’ AI infrastructure deployments.
AEVEX advanced roughly 6% after winning $15.6 million in U.S. Air Force contracts. The defense contractor also announced first-quarter revenue skyrocketing over 300% year-over-year to $216.7 million.
Broader markets displayed hesitation Thursday. Equity index futures drifted lower after President Trump indicated the United States stood ready to conduct military action against Iran absent a peace agreement.
