Stock

Salesforce stock surged 22% on strong Q2 earnings that beat expectations and an expanded AI partnership with Anthropic. Dubbed “Claudeforce,” this collaboration integrates Anthropic’s Claude chatbot into Salesforce’s ecosystem, enhancing sales productivity with AI. This move signals Salesforce’s embrace of generative AI, alleviating industry fears of disruption. The company also reported impressive revenue and earnings growth, boosted by its strategic investment in Anthropic.

Reddit’s stock surged 11% as it prepares to join the S&P 500 on August 18th. This inclusion marks Reddit as only the second pure-play social media company in the index. Despite consistent sales growth, the company faces challenges with search referral diversification and reliance on Google. The S&P 500 move provides increased visibility and capital for Reddit to pursue new growth avenues and monetization strategies.

Early SpaceX investors can now liquidate holdings as initial lockup restrictions expire, potentially increasing selling pressure on shares already down over 50% from their peak. Over 911 million shares become available, with further tranches unlocking later. Despite recent volatility and investor concerns over capital expenditures, some early investors, like Atlanta Falcons player Jessie Bates III, plan to sell to secure gains. Elon Musk’s shares remain locked until 2027.

AppLovin’s stock plummeted 19% to a 52-week low after missing Q2 revenue expectations. The company cited timing of AI model enhancements for the miss, despite a 53% year-over-year revenue increase. Analyst downgrades reflect concerns about predictable future earnings, highlighting the challenges of AI integration in the evolving adtech sector.

Jim Cramer’s Charitable Trust increased its Intel stake by 100 shares, boosting its portfolio allocation to 3.20%. This move follows a recent surge in Intel stock and is driven by optimism in the AI sector and semiconductor market recovery. Despite past volatility, the Trust believes Intel is undervalued and poised for a rebound, citing strong demand and potential for growth. The acquisition aims to optimize cost basis and capitalize on Intel’s position in the AI value chain.

Despite exceeding analyst expectations with strong revenue growth, AMD’s stock fell due to investor caution. The chipmaker’s data center segment surged, driven by AI hardware demand. While AMD’s CEO sees significant growth opportunities, some investors had higher expectations, leading to market apprehension. Analysts suggest the dip may present a buying opportunity.

Pinterest’s stock fell 7% despite beating Q2 earnings and revenue estimates. This decline was driven by a cautious Q3 revenue forecast, influenced by the shift of Amazon’s Prime Day and World Cup spending. The company reported strong user growth and progress in AI integration, leveraging open-source models to manage costs effectively. Adjusted EBITDA and global monthly active users also exceeded expectations.

AMD surpassed Q2 earnings and revenue expectations, driven by strong Data Center segment growth fueled by AI chip demand. Despite a stock stumble amidst AI race dynamics, AMD projects robust Q3 revenue and anticipates significant market share gains with its AI accelerators and integrated systems like Helios, challenging competitors.

Palantir Technologies exceeded Q2 earnings expectations, driven by a more than doubling of its commercial revenue. This strong performance led to a significant stock surge. CEO Alex Karp highlighted the unprecedented scale of growth, particularly in the U.S. commercial sector, which saw a 149% year-over-year increase. The company raised its full-year revenue guidance, projecting continued momentum for at least 18 months.

Palantir’s stock rose 20% after reporting “otherworldly” Q2 earnings, driven by strong AI sovereignty demand. Revenue surged 93% year-over-year to $1.94 billion, beating expectations. Commercial revenue jumped 149%, and government revenue grew 90%. The company raised full-year guidance, projecting strong commercial growth. CEO Alex Karp highlighted the “sovereign AI revolution” as a key driver, noting unprecedented growth for a company at their scale.