Nvidia jumps to high of day after CEO Jensen Huang touts more than $500 billion in flagship chip orders through 2026

Shares of Nvidia leapt to session highs after CEO Jensen Huang touted the “exceptionally” strong demand for its flagship products, noting that orders for Blackwell and early Rubin chips were above $500 billion through 2026.

That’s a lot more money in a lot less time than its Hopper GPUs have generated to date.

Revenue estimates for Nvidia’s fiscal 2026 and 2027 (which loosely map to calendar years 2025 and 2026) currently sit at a combined $486 billion.

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Matt Phillips30m

Reddit rises after reporting strong Q1 numbers and guidance

Social media platform Reddit climbed late Thursday after guiding for stronger sales in the current quarter and posting Q1 numbers that were better than analysts expected. Reddit reported:

Q1 earnings per share of $1.01 vs. Analysts’ expectations of $0.57.
Revenue of $663.4 million vs. expectations for $607.7 million.
126.8 million “daily active uniques” vs. 125.9 million expected.
Sales guidance for Q2 2026 of between $715 million to $725 million (midpoint $720 million) vs. analysts’ estimates of $710.9 million.

After surging 40% last year, Reddit has struggled since last September, when it hit a record closing high of $270.71. The stock closed Thursday roughly 45% below that level.

The drop is not so much because the outlook for sales and earnings at the company have weakened dramatically. (In fact, Wall Street analysts have lifted their sales estimates for the next 12 months by about 30% since then, and earnings estimates by about 70%.)

It’s that the price-to-earnings multiple on the stock has plunged from over 90x expected earnings over the next 12 months to about 32x, suggesting that sentiment around the stock — which had been something of a favorite for retail traders last year — has ebbed significantly.

Paige Oamek33m

Roblox craters after Q1 daily active users miss estimates while management slashes full-year guidance

The bottom is falling out of Roblox in postmarket trading after the video game company’s Q1 daily active users fell short of estimates and management cut full-year guidance.

For the period ended March 31, the company reported:

Net revenue of $1.44 billion (estimate: $1.42 billion).
Daily active users of 132 million (estimate: 143.8 million).

The real pain, though, comes from the reduced full-year outlook, with management lowering their view for sales to between $5.87 billion and $6.14 billion, down from a range of $6.02 billion to $6.29 billion. In other words, the old base case for sales is now their best-case scenario.

The firm also cut its outlook for 2026 bookings (money spent on in-game currency known as Robux) to a range of $7.33 billion to $7.6 billion (previously $8.28 billion to $8.55 billion).

Analysts were way off-side, having expected full-year revenue of $6.6 billion and bookings of $8.4 billion.

The stock hit its lowest level since October 2024 in the after-hours session. It’s been languishing near its 52-week low after halving over the past six months, with analysts wondering whether the kid-focused company has a plan to stay out of legal trouble, monetize, and “age up” in the years ahead.

Roughly one-third of the video game company’s users are under 13. This month, Roblox announced expanded controls for parents and the rollout of Roblox Kids (for ages 5 to 8) and Roblox Select (for ages 9 to 15) this June. These launches are one part of its multitiered safety plan, which includes third-party biometric scans — something kids have been expertly outsmarting.

Over the past month, the company has settled with several states over lawsuits that allege the company failed to implement proper security to protect children from adults on the site, which showed up in the company’s quarterly bill.

The platform paid out $1.5 billion to creators in 2025, and the company overall remains in the red despite the gains in visitors to the site.

Matt Phillips37m

Western Digital slips despite posting strong quarterly results

AI memory play Western Digital posted stronger-than-expected quarterly earnings and sales figures.

Shares of the company, which have run up 131% so far this year, were down 3.6% as the beats weren’t able to satiate investors, a similar situation that played out with its peer Sandisk, which also reported on Thursday afternoon.

Here’s how the results looked:

Fiscal Q3 revenue of $3.34 billion vs. the $3.25 billion consensus analyst expectation, per FactSet.
Adjusted earnings per share of $2.72 vs. the $2.39 analysts predicted.
Fiscal Q4 guidance for adjusted EPS of $3.10 to $3.40 ($3.25 midpoint) vs. analyst estimates of $2.75.
Sales guidance for Q4, which ends in June, of $3.55 billion to $3.75 billion ($3.65 billion midpoint) vs. estimates of $3.46 billion.

A maker of hard disk drives that are suddenly in high demand due to the AI data center buildout, Western Digital — along with Seagate Technology Holdings, Sandisk and Micron — is a cornerstone of the AI memory trade that has delivered massive gains over the last year. Western Digital alone is up over 1,000% over the last 12 months and is one of the top-performing issues in the S&P 500 in 2026.

Matt Phillips43m

Sandisk crushes expectations for quarterly EPS and sales, but stock drops anyway

Data storage company Sandisk dropped late Thursday despite reporting much-better-than-expected quarterly numbers. The massive beneficiary of the data center boom — the stock topped the S&P 500 last year and is leading it again in 2026 with an astounding gain of about 360% year-to-date — reported:

Non-GAAP diluted earnings per share of $23.41 vs. the $14.62 forecast by Wall Street analysts polled by FactSet.
Revenue of $5.95 billion vs. a $4.72 billion consensus forecast from FactSet.
Non-GAAP EPS guidance for the current quarter, which ends in June, of $30 to $33 vs. Wall Street’s $23.38 expectation.
Current quarter revenue guidance of $7.75 billion to $8.25 billion ($8 billion midpoint) vs. the $6.62 billion analyst forecast.

Shares fell 6% after hours.

Sandisk was spun off from Western Digital in February 2025, and since then its AI-driven stock price run-up has been nothing short of spectacular. The stock has risen more than 3,300% over the last 12 months, creating more than $150 billion in market value. When it emerged as a standalone company, it was valued at about $5 billion.

Can such a run-up continue? The law of large numbers would suggest not.

Sandisk executives have been adamant that demand for products — to store the massive amounts of data required for, and produced by, AI — shows no sign of slowing. But the sell-off after the numbers suggests investors who’ve ridden the shares up are nervous.

Max Knoblauch53m

Rivian delivers better-than-expected Q1 earnings and revenue

US EV-maker Rivian reported its first-quarter results after markets closed on Thursday. The company’s shares whipsawed in after-hours trading.

For Q1, Rivian reported:

An adjusted net loss of $0.54 per share, compared to the $0.60 loss per share expected by Wall Street analysts polled by FactSet.
$1.38 billion in sales, compared to $1.37 billion expected.

Looking ahead, Rivian maintained its forecast for a full-year adjusted loss in the range of of $1.8 billion to $2.1 billion. Wall Street expects a $1.99 billion loss.

Rivian’s primary focus this year will be the commercial launch of its new, smaller R2 SUV.

Earlier this month, Rivian reaffirmed its full-year delivery guidance of 62,000 to 67,000 vehicles. Analysts polled by FactSet expect 17,200 of those to be R2s, while Rivian has implied annual R2 deliveries of between 20,000 and 25,000 units. In March, Rivian announced that the R2 would start at $59,485 at launch. The company reportedly began deliveries of the first R2s to employees this month.

Rivian also announced a robotaxi partnership with Uber in the first quarter. Uber will invest up to $1.25 billion in the EV maker in a deal for 50,000 robotaxis.

This week, a regulatory filing revealed that Rivian CEO RJ Scaringe earned $402.6 million in 2025 — more than 7 times the combined pay for GM CEO Mary Barra and Ford CEO Jim Farely.

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