Quick Summary
- Nvidia exceeded fiscal Q1 expectations and projects $91 billion in current-quarter revenue
- Applied Digital jumped approximately 10% following announcement of a $7.5 billion, 15-year AI data center lease agreement with a major hyperscaler
- Intuit plummeted roughly 14% after revealing plans to eliminate 17% of its full-time employees, even while increasing full-year projections
- e.l.f. Beauty surged approximately 9% on robust quarterly performance with net sales climbing 35%
- NIO gained 2.5% as its Q1 deficit contracted and revenue doubled compared to the previous year
Nvidia delivered fiscal first-quarter earnings and revenue figures that surpassed analyst projections. The artificial intelligence chip manufacturer is now guiding for $91 billion in revenue during the ongoing quarter, significantly exceeding Wall Street’s consensus estimates.
The stock edged up roughly 0.3% during premarket hours. Nvidia currently holds the position as the world’s most valuable company by market capitalization.
These impressive figures arrive as ongoing appetite for AI infrastructure continues fueling demand for Nvidia’s semiconductor products throughout global data center operations.
Applied Digital experienced a dramatic nearly 10% surge following the company’s disclosure of a 15-year take-or-pay lease arrangement with an investment-grade U.S. hyperscaler. The agreement centers on its Polaris Forge 3 AI facility.
The baseline contracted revenue from this arrangement totals approximately $7.5 billion, with maximum potential value climbing to $18.2 billion when including optional extensions. According to Applied Digital, this addition brings its cumulative contracted lease revenue pipeline to roughly $31 billion spanning four separate campuses.
Intuit Plummets Following Personnel Reductions Despite Improved Guidance
Intuit declined approximately 14% in premarket activity after verifying intentions to eliminate 17% of its full-time employee base. The company characterized the reductions as component of a restructuring effort designed to optimize operational efficiency.
Restructuring expenses are projected between $300 million and $340 million. Chief Executive Sasan Goodarzi informed Barron’s that artificial intelligence had “no bearing” on this strategic decision.
Notwithstanding the personnel cuts, Intuit delivered fiscal third-quarter performance exceeding expectations and elevated its full-year earnings and revenue projections above Street consensus. The organization additionally authorized a fresh $8 billion stock buyback initiative.
e.l.f. Beauty advanced roughly 9% following publication of fiscal fourth-quarter results surpassing projections. Net sales increased 35%, propelled by expansion from its Rhode and Naturium product lines.
Adjusted earnings per share of $0.32 exceeded analyst forecasts. The company provided fiscal 2027 guidance marginally below Street expectations, attributing the adjustment to elevated fuel expenses.
Additional Notable Movements: NIO, Deere, Walmart, and Others
NIO’s American-listed shares climbed 2.5% after the Chinese electric vehicle manufacturer disclosed its first-quarter deficit narrowed versus the prior-year period. Revenue surged more than twofold relative to the comparable timeframe last year.
Deere declined 1.9% following fiscal second-quarter sales and revenue disclosure showing 5% growth to $13.37 billion. Earnings per share of $6.55 fell short of last year’s figure but exceeded analyst projections of $5.70.
Walmart dipped modestly ahead of its fiscal first-quarter earnings disclosure. Market participants are monitoring closely for indicators of consumer behavior patterns as gasoline prices have climbed.
Nebius shares advanced approximately 8% after unveiling a fuel cell capacity arrangement with Bloom Energy valued at up to $2.6 billion in aggregate monthly service charges. The partnership will provide roughly 250 megawatts of assured power capacity for Nebius’ AI infrastructure activities.
AEVEX increased around 6% after obtaining $15.6 million in U.S. Air Force contracts. The organization additionally disclosed first-quarter revenue surging over 300% year-over-year to $216.7 million.
Broader markets displayed caution Thursday. Stock futures trended lower following President Trump’s statement that the U.S. stood prepared to conduct military strikes against Iran absent a peace agreement.
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