Key Takeaways
- Riot Platforms rallied 19% following the announcement of a 20-year, $9.1B data center agreement with Anthropic
- Babcock & Wilcox soared 41% on impressive Q2 results and increased profit guidance fueled by AI infrastructure demand
- Plug Power advanced 8% after surpassing Q2 projections and boosting its 2026 revenue growth expectations
- Rocket Lab declined 9% despite achieving record Q2 sales, with investors concerned about projected margin compression
- Intel dropped following the disclosure of a $20B equity offering to finance AI manufacturing capabilities
Tuesday’s trading session featured pronounced price swings across multiple sectors as market participants anticipated forthcoming U.S. inflation reports while monitoring geopolitical tensions surrounding the Strait of Hormuz shipping corridor.
Riot Platforms emerged as the session’s top performer, climbing 19%. The cryptocurrency mining company unveiled a two-decade, 191-megawatt data center agreement with artificial intelligence firm Anthropic. Initial revenue from this contract is projected to reach $9.1 billion through June 2048, with potential extension clauses that could elevate the total contract value to $16.1 billion.
Riot separately disclosed Q2 revenue of $174.2 million, representing a 14% year-over-year increase and exceeding the analyst consensus of $150.9 million. Data center operations contributed $23.2 million in revenue during only their second quarter of reporting.
Babcock & Wilcox surged 41% after delivering second-quarter earnings that exceeded Wall Street projections and elevating its annual profitability forecast. The energy equipment manufacturer attributed the strong performance to accelerating electricity requirements from AI data center infrastructure.
New bookings increased 38% to $151 million, while the company’s project pipeline exploded 533% to reach $2.6 billion. Management now anticipates full-year adjusted EBITDA between $80 million and $105 million.
Plug Power climbed 8% following second-quarter results that surpassed analyst estimates. The company’s gross margin improved dramatically to approximately breakeven, contrasting sharply with the negative 31% recorded in the prior-year period.
Operating costs decreased by roughly 50% compared to the same quarter last year. Plug Power increased its 2026 revenue growth projection to a range of 15% to 16% and reaffirmed expectations for achieving positive EBITDA during the fourth quarter of 2026.
Rocket Lab, Intel, and Upwork Lead Tuesday’s Declining Stocks
Rocket Lab slipped 9% even after delivering record second-quarter revenue of $234.1 million, representing a 62% year-over-year gain. Market attention instead centered on diminished margin expectations for the third quarter, with GAAP gross margin anticipated to land between 29% and 31%, down from Q2’s 36%.
Third-quarter adjusted EBITDA is projected to remain in negative territory. The company’s Neutron rocket development initiative is targeting launch-pad readiness during the fourth quarter of 2026.
Intel shares retreated after the semiconductor giant announced plans to raise $20 billion through an equity offering, exceeding its previous $15 billion target. The chipmaker disclosed it will issue 210.5 million shares priced at $95 each to finance production capacity expansion related to artificial intelligence chip demand.
AST SpaceMobile declined 2.2% following a wider-than-anticipated second-quarter loss alongside revenue that fell short of Wall Street’s forecasts.
On Holding tumbled 15% after the Swiss athletic footwear manufacturer provided full-year sales guidance that disappointed analyst expectations.
Upwork plunged 20% after issuing underwhelming third-quarter and full-year guidance. The freelance marketplace platform now projects full-year 2026 revenue between $730 million and $750 million, substantially below the $776 million consensus estimate.
Hims & Hers Health fell 6.3% after posting a second-quarter loss that exceeded analyst projections, which overshadowed the company’s upward revision to full-year guidance.
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