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Fermi’s Proxy Battle Intensifies Ahead of Q1 Earnings, Founder Pushes for Board Overhaul
Fermi founder Toby Neugebauer pushes for board changes despite the board canceling a May 29 meeting. Q1 earnings are due Thursday, with focus on Project Matador tenant negotiations.
Geothermal Developer Fervo Energy Soars 35% on Nasdaq Debut Amid AI-Driven Power Demand
Fervo Energy closed 35% above its IPO price in Nasdaq debut, valuing the geothermal firm at $10.36B, as AI power needs drive investor enthusiasm.
Wix Shares Tumble 27% on Q1 Earnings Miss and AI Investment Concerns
Wix stock plunged 27% after Q1 adjusted earnings missed forecasts and the company reported a GAAP net loss of $57.5 million, as AI investments weighed on margins.
Cisco Rallies 14% After Hours on AI-Driven Revenue Upgrade and Workforce Reduction
Cisco (CSCO) surged 14% in after-hours trading after raising its annual revenue forecast to $63 billion and announcing 4,000 job cuts, fueled by $5.3 billion in AI infrastructure orders.
Ouster Shares Surge 26% on Nvidia DRIVE Qualification for Rev8 Lidar
Ouster shares surged 26% to $34.17 after its Rev8 lidar sensors were certified for Nvidia's DRIVE Hyperion platform, targeting Level 4 autonomous vehicles.
Apple Backs Google in EU Digital Markets Act Dispute
Apple cautioned EU regulators that proposed DMA rules requiring Android to open features to competing AI services could endanger privacy and security. Alphabet shares rose 4% after strong Q1 results.
AOI Shares Jump on Surging AI Data-Center Demand
Applied Optoelectronics surged 21% on strong AI data-center demand, with Q1 revenue hitting $81.4M. Supply constraints are expected to persist through mid-2027.
Wall Street Hits New Peaks as Tech Surge Overrides Inflation Jitters
The S&P 500 and Nasdaq Composite closed at record highs Wednesday, shrugging off a hotter-than-expected April producer price report that pushed back Fed rate-cut expectations.
Exxon Edges Higher as Oil Stays Above $100 Amid Inflation Jitters
Exxon Mobil rose 0.4% as oil stayed above $100, but Chevron and ConocoPhillips slipped on inflation and rate hike fears. The Energy Select Sector SPDR Fund edged down 0.1%.