Quick Summary
- Riot Platforms rallied 19% following announcement of a 20-year, $9.1B data center agreement with Anthropic
- Babcock & Wilcox soared 41% after delivering robust Q2 results and upgrading profit guidance on AI infrastructure demand
- Plug Power advanced 8% on better-than-expected Q2 performance and increased 2026 revenue projections
- Rocket Lab declined 9% despite hitting record quarterly sales, with investors concerned about margin compression
- Intel retreated following disclosure of $20B equity offering to finance AI manufacturing capabilities
Tuesday’s trading featured pronounced volatility across multiple sectors as market participants awaited critical U.S. inflation reports while monitoring geopolitical tensions surrounding Strait of Hormuz trade routes.
Riot Platforms emerged as the session’s top performer, advancing 19%. The cryptocurrency mining operation unveiled a transformative 20-year, 191-megawatt data center agreement with Anthropic. Management anticipates the arrangement will produce $9.1 billion in baseline revenue extending through June 2048, with potential contract extensions potentially elevating total proceeds to $16.1 billion.
Riot simultaneously disclosed Q2 revenue reaching $174.2 million, representing 14% annual growth and surpassing the Street consensus of $150.9 million. Data center operations contributed $23.2 million during their second quarter of financial reporting.
Babcock & Wilcox jumped 41% after delivering second-quarter earnings that exceeded projections while elevating its annual profitability forecast. The industrial equipment manufacturer pointed to accelerating electricity requirements from artificial intelligence computing facilities.
New bookings climbed 38% to $151 million, while the company’s project pipeline exploded 533% to reach $2.6 billion. Management updated its full-year adjusted EBITDA guidance range to $80 million through $105 million.
Plug Power gained 8% following second-quarter results that topped analyst estimates. Gross margin performance reached nearly neutral territory, a dramatic improvement from the negative 31% recorded in the prior-year period.
Operating costs fell approximately 50% on an annual basis. Plug Power upgraded its 2026 revenue growth expectations to a 15% to 16% range and reaffirmed its trajectory toward positive EBITDA during Q4 2026.
Rocket Lab, Intel, and Upwork Lead Tuesday’s Losing Stocks
Rocket Lab shed 9% notwithstanding record-breaking Q2 revenue of $234.1 million, reflecting 62% year-over-year expansion. Market attention centered on disappointing margin guidance for Q3, with GAAP gross margin projected at merely 29% to 31%, declining from 36% in the previous quarter.
Adjusted EBITDA for the third quarter is anticipated to stay in negative territory. The company’s Neutron rocket initiative is targeting launch-pad completion during Q4 2026.
Intel declined after revealing plans to secure $20 billion through an equity issuance, representing an increase from its previous $15 billion proposal. The semiconductor manufacturer stated it will place 210.5 million shares priced at $95 each to finance production infrastructure aligned with artificial intelligence requirements.
AST SpaceMobile decreased 2.2% after posting an expanded second-quarter deficit and revenue figures below consensus forecasts.
On Holding plunged 15% after the Swiss athletic shoe brand provided full-year sales projections that underperformed analyst expectations.
Upwork plummeted 20% following release of disappointing Q3 and annual guidance. The freelance marketplace platform currently forecasts full-year 2026 revenue between $730 million and $750 million, trailing the $776 million analyst consensus.
Hims & Hers Health fell 6.3% after disclosing a larger-than-anticipated Q2 loss, which overshadowed its raised full-year outlook.
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