TLDR
- Riot Platforms surged 19% after securing a 20-year, $9.1B data center lease with Anthropic
- Babcock & Wilcox jumped 41% on strong Q2 earnings and a raised profit outlook driven by AI power demand
- Plug Power climbed 8% after beating Q2 estimates and raising its 2026 revenue growth target
- Rocket Lab fell 9% despite record Q2 revenue, as investors focused on weak margin forecasts
- Intel slid after announcing a $20B stock offering to fund AI production expansion
Tuesday’s session saw sharp moves in both directions as investors waited on upcoming U.S. inflation data and kept an eye on uncertainty around the Strait of Hormuz shipping route.
Riot Platforms was the standout gainer, up 19%. The Bitcoin miner announced a 20-year, 191-megawatt data center lease with Anthropic. The deal is expected to generate $9.1 billion in initial revenue through June 2048, with extension options that could push the total value to $16.1 billion.
Riot also reported Q2 revenue of $174.2 million, up 14% year over year and above the $150.9 million analyst consensus. Data center revenue hit $23.2 million in its second quarter of reporting.
Babcock & Wilcox gained 41% after topping Q2 earnings estimates and raising its full-year profitability target. The power equipment company cited growing demand for electricity from AI data centers.
Bookings rose 38% to $151 million, while its project backlog surged 533% to $2.6 billion. The company now targets full-year adjusted EBITDA of $80 million to $105 million.
Plug Power rose 8% after reporting Q2 results that beat expectations. Gross margin improved to near breakeven, compared to negative 31% a year earlier.
Operating expenses dropped roughly 50% year over year. Plug Power raised its 2026 revenue growth target to 15% to 16% and said it remains on track for positive EBITDA in Q4 2026.
Rocket Lab, Intel, and Upwork Among Tuesday’s Biggest Decliners
Rocket Lab fell 9% despite posting record Q2 revenue of $234.1 million, up 62% year over year. Investors focused instead on a weaker margin outlook for Q3, with GAAP gross margin expected at just 29% to 31%, down from 36% in Q2.
Adjusted EBITDA for Q3 is forecast to remain negative. The company’s Neutron rocket program is targeting a launch-pad delivery in Q4 2026.
Intel dropped after announcing it plans to raise $20 billion through a stock offering, up from a prior plan of $15 billion. The chipmaker said it will issue 210.5 million shares at $95 each to fund production expansion tied to AI demand.
AST SpaceMobile fell 2.2% after reporting a wider second-quarter loss and revenue that missed Wall Street estimates.
On Holding dropped 15% after the Swiss footwear company issued full-year sales guidance that fell short of analyst expectations.
Upwork tumbled 20% after issuing weak Q3 and full-year guidance. The freelancing platform now expects full-year 2026 revenue of $730 million to $750 million, below the $776 million consensus estimate.
Hims & Hers Health declined 6.3% after reporting a wider-than-expected Q2 loss, which overshadowed an increase to its full-year guidance.
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