AMD delivered a monster quarter: revenue up 38% YoY to $10.25 billion, with data center sales surging 57% to $5.8 billion. EPS of 84 cents crushed the 80-cent consensus. CEO Lisa Su unveiled Helios, a full rack-scale AI system designed to rival Nvidia's Blackwell and Vera Rubin platforms, with OpenAI and Meta already signed up for shipments. AMD also nearly doubled its long-term server CPU growth projection to 35% annually through 2030.
Super Micro posted adjusted EPS of 84 cents versus the 62-cent estimate and adjusted gross margin of 10.1%, crushing the 6.75% consensus. Revenue of $10.24 billion missed the $12.33 billion target due to component shortages and customer delays, but Q4 guidance of $11B–$12.5B topped the $11.16B consensus. Rosenblatt raised its price target from $32 to $40, maintaining a Buy rating.
Arm Holdings fell sharply after Q4 royalty revenue of $671M missed the $693.3M estimate. CEO Rene Haas warned smartphone unit growth is expected to "flip to negative" due to a global memory chip shortage. However, Arm upgraded its AI data center outlook as demand for CPUs powering agentic AI workloads continues to soar — a mixed signal that investors punished on the day.
Broadcom's highly anticipated custom AI chip partnership with OpenAI stalled over financing terms. The two companies are negotiating the initial 1.3 gigawatts of processors, pegged at $18 billion, but Broadcom is requiring Microsoft to commit to purchasing 40% of the chips for its own data centers before proceeding. Without that commitment, OpenAI must find alternative financing partners.
CrowdStrike rallied to $503.75 after unveiling a multi-pronged AI security push: its inaugural Day Zero Threat Research Summit (featuring speakers from Amazon, Cisco, and Microsoft), the Jet partner mobile app, and expansion of Project QuiltWorks with Cognizant and HCLTech. Analysts remain bullish with an average target of $511.56; Wells Fargo, Mizuho, and KeyBanc all have targets at or above $520.
Qualcomm surged roughly 5–8% on May 7, hitting a new 52-week high near $223. The rally stacked multiple catalysts: a $20 billion share repurchase authorization, a Snap augmented-reality chip partnership, and CEO Cristiano Amon's disclosure that Qualcomm expects to begin shipping data center AI chips to a major hyperscaler this year. The stock is up 61% over the past month.
SoundHound reported Q1 revenue of $44.2 million (up 52% YoY), beating the $42.56M consensus, but its adjusted loss of 6 cents per share missed the 4-cent estimate. The company announced a definitive agreement to acquire LivePerson for cross-country customer expansion and reaffirmed full-year guidance of $225M–$260M. Investors weren't satisfied, sending shares down to $8.46 after hours.
IonQ reported Q1 revenue of $64.7 million — up 755% YoY and 30% above estimates — with 60% of revenue from commercial customers and 35% from international markets. However, its non-GAAP loss of $0.34 per share missed by 37.5%, and the stock sold off. The company raised full-year guidance to $260M–$270M, which would represent a doubling of prior-year revenue.
Marvell Technology fell 7% after canceling all purchase orders with POET Technologies that were originally placed by recently acquired Celestial AI. Marvell cited a breach of confidentiality by POET as the reason. On a brighter note, UBS raised its Marvell price target from $120 to $195 on May 4, reflecting confidence in the company's AI infrastructure pipeline.
Billionaire hedge fund manager Paul Tudor Jones told CNBC he recently added to his AI-related stock positions, comparing the current moment to Microsoft's early software dominance in the 1980s and the commercialization of the internet in the mid-1990s. He sees further productivity gains and market upside ahead, lending macro credibility to the AI trade. Deutsche Bank analysts separately called this earnings season "one of the best in 20 years."
