Oracle posted revenue of $19.35B (up 30% y/y) and adjusted EPS of $1.92 versus $1.74 expected, with OCI revenue surging 121% to $7.4B. Management raised FY27 guidance to at least $90B in revenue and $8.10 in non-GAAP EPS, citing 97.9% GPU utilization and 850 megawatts of data center capacity added in the quarter. Shares jumped about 7% in extended trading to roughly $159 after closing the regular session down 5.4%.
The Justice Department is investigating whether Nvidia structured its licensing-and-talent agreement with Groq to avoid mandatory antitrust review — a so-called backdoor acquisition. Nvidia licensed Groq's chip technology non-exclusively and hired founder Jonathan Ross and several executives, leaving Groq nominally independent. Nvidia says the deal is "the American system working as designed"; the stock dipped on the report.
Analyst Doug Anmuth upgraded Meta Thursday, arguing frontier models and AI agents open a growth avenue beyond advertising — roughly 25% upside from the prior close. He pointed to Muse, Meta's new AI agent, which hit No. 3 in the US App Store on day two with usage running 10x the training cohorts. Anmuth said Muse Spark 1.3 is now competitive with Claude and GPT-class models.
Adobe reported revenue of $6.76B and non-GAAP EPS of $6.13, both ahead of estimates, with AI-first annualized recurring revenue up more than 150% y/y and freemium monthly actives at 100 million, up 70%. The company raised full-year guidance and guided Q4 revenue to $6.8B–$6.85B. Shares still fell about 2% after hours to $243.50 on freemium monetization timing, and Shantanu Narayen named Anil Chakravarthy as next CEO effective December 1.
Piper Sandler initiated Nvidia at Overweight with a $300 target (about 34% upside), AMD at Overweight with a $600 target (about 15% upside), and Marvell at Overweight with a $270 target. The firm called Nvidia the "outright leader in AI compute" with roughly 80% share, and framed demand for compute capacity as insatiable. Marvell was flagged for its DSP and custom-attach connectivity franchises at roughly 10% datacenter component share.
Qualcomm will work with Amazon Web Services on energy-efficient silicon for large-scale AI infrastructure plus optical connectivity up to 1.6T. As part of the commercial relationship, Qualcomm issued Amazon a warrant for up to 25 million QCOM shares at $161.26 — roughly $4 billion. The stock climbed as much as 10% intraday on the announcement.
The S&P 500 fell 0.58% to 7,591.70 and the Nasdaq slid 0.65% to 26,081.72, with the Dow off 316.56 points to 52,064.10. WTI settled at $102.48, up 6.7%, and Brent gained 5.9% to $107.63 on Middle East supply fears, pushing the 10-year Treasury yield to its highest since 2023. Tech and materials led the decline, both off more than 1% — a straight duration hit to long-dated AI valuations.
Intel gave back 5.7% Thursday as traders took profits after a multi-session rally, with the broader semi complex pressured by rising yields and the oil spike. Micron fell 4.45% despite the bullish memory setup — HBM for AI servers needs roughly four times the wafer capacity of conventional DRAM, and analysts see that tightness persisting into 2028. Micron reports fiscal Q4 on September 30.
Broadcom's most recent quarter delivered $29.59B in revenue, up 85.5% y/y, with AI semiconductor revenue of $16.7B — up 221% y/y and 54% sequentially. XPUs, the custom accelerators built for Google, Meta, OpenAI and Anthropic, made up 73% of that AI revenue. Nvidia's $96.22B quarter is still far larger, but the merchant-versus-custom share debate is now a live one.
OpenAI moved its Agents API into public beta Thursday, exposing the managed Codex harness that handles sessions, orchestration, context compaction and recovery, and launched a finance workspace. Anthropic separately published details on cyber, surveillance and biological misuse attempts against its models. Neither is publicly traded — but OpenAI is reported to account for close to half of Oracle's backlog, so its commitments now carry real read-through to listed names.
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