AMD jumps after reaching deal to deploy 50,000 AI chips in data centers run by Oracle

Advanced Micro Devices is jumping (again) in premarket trading after Oracle said it will deploy 50,000 AMD AI chips in its data centers starting in the second half of 2026.

Financial terms of the agreement were not disclosed.

One could say AMD’s pact with OpenAI that was announced last week is already paying dividends: AMD securing OpenAI as a customer, which itself is responsible for Oracle’s massive backlog in cloud computing capacity, means Oracle is now more comfortable using AMD as a source of AI chips.

Or, given the very peculiar terms of that AMD-OpenAI agreement, a cynic might suggest it’s yet another example of circular deals in the AI space, and that both AMD announcements may be about the same thing!

Today’s revelation didn’t spark any additional move lower for Nvidia, which has been trading in the red ahead of the open.

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Luke Kawa56m

Core Scientific craters after soft Q4 sales

Core Scientific is sinking in postmarket trading after reporting much lower-than-expected sales in the final three months of 2025 and informing investors of an accounting error in its previous results.

For Q4, the bitcoin miner turned data center company reported:

Revenues of $79.8 million (estimate: $115 million).
Adjusted net income of $216 million (estimate: -$47.5 million).

Core Scientific’s self-mining and high-performance computing hosting divisions posted far less in sales than anticipated.

The company also indicated that it had overstated the value of property, plant, and equipment, requiring a number of previous releases to be restated. However, these changes do not affect revenue, adjusted EBITDA, or net cash flows, management said.

Core Scientific shareholders rejected CoreWeave’s offer to purchase the company in Q4, which would have created a more vertically integrated neocloud provider.

Luke Kawa1h

Credo Technology tumbles after issuing mediocre guidance

Credo Technology Group is down double digits in postmarket trading after its solid Q3 results weren’t enough to offset a ho-hum outlook for the current quarter.

For Q3, the connectivity solutions company posted:

Revenues of $407 million (estimate: $406.4 million).
Adjusted earnings per share of $1.07 (estimate: $0.92).

However, for Q4, management said sales would range between $425 million and $435 million, the midpoint of which is modestly below Wall Street’s call for $430.5 million.

Shares of Credo had spiked earlier this month when management released preliminary Q3 figures and signaled that its rapid sales growth would continue.

Max Knoblauch1h

Archer reports deeper-than-expected Q4 loss

Air taxi maker Archer Aviation reported its fourth-quarter earnings results after the bell on Monday. Its shares fell 2.4% after-hours, eating into some of the gains the stock made in the regular session.

The company posted a loss of $0.26 per share, compared to the $0.24 loss per share expected by analysts polled by FactSet.

Archer ended 2025 with $1.96 billion in cash and cash equivalents, up from Q3’s $1.64 billion and up from $834.5 million in the same quarter the year prior.

Looking ahead to the first quarter, Archer said it expects adjusted earnings before interest, taxes, depreciation, and amortization of between -$160 million and -$180 million. Wall Street expected EBITDA of -$104.7 million in Q1.

Last week, Archer announced that it would partner with SpaceX’s Starlink to bring satellite internet into its Midnight aircraft. In its fourth-quarter shareholder letter, the company said it is targeting its first passenger flights this year, mirroring rival Joby’s timeline.

In a sign that investors, like CEO Adam Goldstein, see Archer’s most promising near-term opportunity in its defense business, its shares closed up more than 5% on Monday as investors scooped up defense contractor stocks. Goldstein told Sherwood News last year that he sees defense, with a focus on the autonomous and attritable industry, as the company’s “front and center” division for the next decade. Per the company’s shareholder letter:

“Our partnership with Anduril is at the core of our defense strategy, and it continues to accelerate. We are designing an autonomous, hybrid-electric VTOL aircraft built for dual use. For defense, it will fly alongside armed reconnaissance attack helicopters as a loyal wingman. The aircraft is designed to meet the needs of the U.S. and its allies for decades to come.”

Electric aircraft rivals Beta Technologies and Joby Aviation also ended the day higher.

Luke Kawa1h

Plug Power pops after Q4 revenues exceed expectations

Plug Power is soaring in postmarket trading after issuing solid fourth-quarter sales that more than outweighed some massive red ink on its bottom line.

The hydrogen fuel cell company reported:

Revenues of $225.22 million (estimate: $217.26 million).
Adjusted earnings per share of -$0.06 (estimate: -$0.10).

$763 million in “various net charges” over the course of the quarter caused many of Plug’s other earnings metrics to look significantly worse.

Management reaffirmed its goal of having positive EBITDAS (the “S” is for stock-based compensation) by 2026, and said the company is “positioned” to do so.

Tasha Matsumoto

Stocks close higher after whipsawing; oil surges

Defense and oil stocks rose after the US launched a series of attacks against Iran, while fuel-reliant travel assets fell.

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