Key Takeaways
- Nvidia exceeded Q1 expectations and projects $91 billion quarterly revenue ahead
- Applied Digital jumped approximately 10% following announcement of a 15-year, $7.5 billion data center lease agreement with major hyperscaler
- Intuit tumbled roughly 14% after revealing plans to eliminate 17% of full-time employees, even as full-year outlook improved
- e.l.f. Beauty climbed about 9% following quarterly results that exceeded expectations with 35% net sales growth
- NIO increased 2.5% as Q1 losses narrowed and revenue surged over 100% year-over-year
The AI chip giant Nvidia delivered fiscal first-quarter earnings and revenue that surpassed analyst projections. The company issued guidance calling for $91 billion in quarterly revenue, significantly exceeding Street expectations.
In premarket action, shares moved up approximately 0.3%. Nvidia currently holds the position as the world’s most valuable company by market capitalization.
The strong performance reflects ongoing robust demand for AI infrastructure, which continues fueling purchases of Nvidia’s processors throughout global data centers.
Applied Digital experienced a nearly 10% share price surge following disclosure of a 15-year take-or-pay lease arrangement with a U.S.-based investment-grade hyperscaler. The agreement centers on its Polaris Forge 3 AI campus facility.
Base contracted revenue from the arrangement totals approximately $7.5 billion, while full potential value including options reaches $18.2 billion. According to Applied Digital, this addition brings total contracted lease revenue across four campus locations to roughly $31 billion.
Intuit Shares Slide Despite Improved Guidance Following Layoff Announcement
Intuit declined approximately 14% in premarket trading after confirming intentions to reduce its full-time workforce by 17%. The company characterized the reductions as part of a restructuring initiative focused on operational efficiency.
Restructuring expenses are projected between $300 million and $340 million. CEO Sasan Goodarzi informed Barron’s that artificial intelligence played “no bearing” in the workforce decision.
Neverthstanding the job eliminations, Intuit delivered fiscal third-quarter performance exceeding forecasts and elevated its full-year earnings and revenue projections above analyst consensus. Additionally, the company authorized a fresh $8 billion buyback program.
e.l.f. Beauty advanced roughly 9% after posting fiscal fourth-quarter results that topped expectations. Net sales increased 35%, powered by strong performance from its Rhode and Naturium brand portfolios.
Adjusted EPS of $0.32 exceeded projections. The company provided fiscal 2027 guidance modestly below Wall Street forecasts, attributing the conservative outlook to elevated fuel expenses.
Additional Notable Movers: NIO, Deere, Walmart, and Others
NIO’s American depositary receipts gained 2.5% after the Chinese EV manufacturer disclosed its first-quarter loss narrowed compared to the prior year period. Revenue more than doubled versus the same quarter last year.
Deere declined 1.9% following fiscal second-quarter sales and revenue that increased 5% to $13.37 billion. EPS of $6.55 fell short of last year’s figure but exceeded analyst projections of $5.70.
Walmart edged marginally lower in advance of its fiscal first-quarter earnings announcement. Market participants are monitoring closely for indicators of consumer behavior amid rising gasoline prices.
Nebius shares climbed approximately 8% after revealing a fuel cell capacity arrangement with Bloom Energy valued at up to $2.6 billion in aggregate monthly service charges. The agreement will provide approximately 250 megawatts of guaranteed power capacity supporting Nebius’ AI infrastructure activities.
AEVEX advanced around 6% following the award of $15.6 million in U.S. Air Force contracts. The company additionally disclosed first-quarter revenue soaring more than 300% year-over-year to $216.7 million.
Broader markets exhibited caution Thursday. Equity futures dipped lower after President Trump indicated the U.S. stood ready to conduct strikes against Iran absent a peace agreement.
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