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Rackspace Stock Surges on AMD AI Deal, Despite Layoffs and Funding Hurdles
Rackspace Technology shares surged 12.6% to $6.66 after securing a definitive AMD AI compute deal for 30 MW capacity, but a 15% workforce cut and need for additional financing highlight ongoing risks.
Nvidia Stock Dips After Record $25B Bond Sale as AI Spending Risks Loom
Nvidia shares slipped 1.2% to $209.98 after a $25 billion bond sale drew $85 billion in orders, as investors weigh a stronger balance sheet against a $5 trillion valuation and 32 P/E ratio ahead of the June 24 annual meeting.
Nokia ADR Dips as Market Awaits Q2 Earnings for AI Growth Validation
Nokia's US-listed ADR slipped 2.2% to $14.50 in morning trading as investors take profits ahead of Q2 results on July 23, which will test AI-driven growth expectations.
Yum Brands Divests Pizza Hut in $2.7B Deal
Yum Brands sells Pizza Hut for $2.7 billion in two deals, expects $2.3 billion in net proceeds, and authorizes $4 billion in stock buybacks.
Intel Shares Steady Near Highs as Foundry Deals and AI Demand Awaited
Intel shares hover near $128, little changed after a chip rally, as investors focus on Q2 earnings for foundry deal updates and AI-driven demand.
Qualcomm Gains on Potential $10B Tenstorrent Acquisition
Qualcomm shares jumped 4.3% to $220.81 after reports of potential $8-10 billion acquisition of AI chip startup Tenstorrent, signaling push into AI infrastructure.
Rigetti Computing Soars 8.2% as Quantum Sector Rebounds, Valuation Concerns Loom
Rigetti Computing jumped 8.2% on heavy volume as quantum stocks rallied, but a $7.6B market cap against $4.4M quarterly revenue raises valuation concerns. The next earnings update is the key catalyst.
CervoMed Stock Surges on Insider-Linked $3M Unit Purchase
CervoMed shares rose over 30% premarket after an SEC filing revealed a trust tied to board chair Joshua S. Boger purchased $3 million in units above Monday's close, signaling insider confidence.
Snap Rallies 8.6% on Tech Bounce, but AR Glasses and Ad Weakness Loom
Snap surged 8.56% to $5.71 as tech stocks rallied, ending a six-day slide. Shares remain 45% below their 52-week high, with investors eyeing the Specs AR glasses debut and upcoming quarterly results.
D-Wave Quantum Stock Surges on Mizuho Price Target Boost
D-Wave Quantum shares rose 12.6% to $26.26 after Mizuho raised its price target to $35, citing quantum roadmap progress and surging bookings, despite weak revenue and widening losses.
Beam Global Surges on European Patent, but Q1 Woes Linger
BEEM surged 28% premarket on a new European patent for battery thermal management, but the company must convert its $9M backlog into Q2 revenue to offset a 51% Q1 revenue drop.
SpaceX IPO Fuels 2X Leveraged ETF Surge; SPCH Hits New Highs
SPCH ETF jumped 10.9% premarket to $23.16 after SpaceX's IPO rally, leveraging daily returns. The fund targets experienced investors but carries amplified risks.