Shares of Akamai Technologies rallied after the company said it would supply cloud infrastructure services to a leading artificial-intelligence lab in a seven-year agreement worth $1.8 billion.
The cloud and cybersecurity company described the AI lab as a "leading, U.S. based frontier model provider," without providing its name or any further information.
Akamai's disclosure of the deal caused shares to surge 28% in overnight trading.
Rare earths company MP Materials posted an adjusted profit on Thursday that beat Wall Street's expectations due to its price support agreement with the U.S. government and a sales jump that offset rising costs.
Its shares rose 3.21% to $71.35 in overnight trading.
Cloudflare said on Thursday it would lay off about 20% of its workforce as part of a shift toward an "agentic AI-first operating model," as the internet services company restructures around artificial intelligence.
Shares of Cloudflare fell 18% in overnight trading, despite posting stronger-than-expected quarterly results.
Monster Beverage$ beat Wall Street expectations for first-quarter revenue and profit on Thursday, as demand for energy drinks remained strong despite broader economic uncertainty. Shares jumped 6% in overnight trading
Trade Desk shares fell over 14% in overnight trading Thursday, after a downbeat outlook intensified concerns over the company's competitive positioning and its ability to navigate a volatile marketing environment.
The advertising-technology company reported revenue of $689 million for the first quarter, ahead of the FactSet analyst consensus for $679 million. That said, its revenue growth rate of 12% slowed from 14% in the fourth quarter and 25% in the year-ago period.
Airbnb and Expedia on Thursday joined a growing list of travel companies warning that the Middle East conflict is weighing on demand, as hostilities in the region enter their third month.
Both companies reported stronger-than-expected first-quarter revenue, but their quarterly forecasts show that escalating geopolitical uncertainty is disrupting travel routes and triggering cancellations.
Shares of Expedia fell 9% in overnight trading after it forecast current-quarter gross bookings below Wall Street estimates,
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