Qualcomm shares climbed 3.4% in overnight trading following comments from NVIDIA CEO Jensen Huang recommending investors purchase the chipmaker's stock.
Huang praised Qualcomm's performance in the mobile device sector during his remarks.
"I don't think we're incredibly good at mobile devices, and I don't think it's necessary," Huang said. "I think they're doing such a good job," he added, referring to Qualcomm.
"Buy their stock," he said.
Applied Digital has signed a 15-year lease with a U.S.-based hyperscaler at its Delta Forge 2 site which is expected to generate about $5.2 billion in revenue over the period, sending the company's shares up about 9% in overnight trading.
Eli Lilly gained 0.94% overnight as it showcased multiple clinical data sets for its obesity drug candidates Foundayo and Retatrutide at the American Diabetes Association meeting, demonstrating significant weight-loss effects and driving intraday gains of over 4%.
In the GLP-1 oral weight-loss market, Lilly and Novo Nordisk are vying for share as Medicare prepares $50-per-month coverage for millions of seniors from July 1, with Novo’s oral Wegovy prescriptions already exceeding 3 million and FDA approval expected in the fourth quarter.
Intel slipped 1% in overnight trading after a strong rebound in the semiconductor sector and reports that Google and NVIDIA may use Intel as a backup chip manufacturer, with Google reportedly ordering more than 3 million TPU chips from Intel.
Comments