Palantir CEO Alex Karp declared the company 'anti-woke' during an earnings call, highlighting its support for free speech, meritocracy, and controversial alliances such as working with ICE and Israel. The company reported a 63% increase in revenue to $1.2 billion, driven by significant growth in US commercial and government sectors. Karp emphasized a focus on supporting 'average Americans' and critiqued open border policies, while also expressing a desire for a shared national identity.
Lendbuzz, a Boston-based fintech specializing in AI-driven auto loans, reported a 38% revenue increase to $172.9 million in H1 2025 and plans to go public on Nasdaq, reflecting a rebound in fintech IPO activity.
Nvidia experienced a significant revenue increase of over 69% in Q1, driven by strong demand for its AI chips despite tariff uncertainties and export restrictions, especially related to China. The company's positive outlook and recent legal rulings blocking tariffs have boosted investor confidence, although geopolitical challenges remain as Nvidia navigates complex trade policies and expands manufacturing in the US.
NetApp's Q3 FY24 revenue surged 5% to $1.6 billion, driven by record all-flash array sales and profits of $313 million. CEO George Kurian attributes the success to the momentum of their expanded all-flash product portfolio and operational discipline. The company's lower cost all-flash arrays outperformed competitors, leading to a sustainable step-up in product gross margin. Despite a minor revenue lift in the public cloud business, NetApp is focusing on first-party and hyperscaler marketplace storage services for growth. The company raised its full-year revenue outlook and is confident in its ability to capitalize on market opportunities.
The Bitcoin mining community achieved its annual all-time high on November 12, earning over $44 million in block rewards and transaction fees. After a period of decline due to factors such as a bear market and unfriendly regulations, 2023 saw a reversal of the trend as crypto entrepreneurs helped restore investor confidence. Marathon Digital Holdings, a Bitcoin mining firm, reported a 670% year-on-year revenue surge in Q3 2023, driven by a significant increase in Bitcoin production. Additionally, countries like Bhutan are actively participating in Bitcoin mining, with plans to expand operations through partnerships with companies like Bitdeer.
Marvell Technology's shares surged by 23% after the company projected a big surge in revenue from the AI boom, following in the footsteps of larger peer Nvidia Corp. The company forecast sales from AI-based offerings to double this year, as generative AI is rapidly driving new applications and changing the investment priorities for cloud customers. The technology refresh rate is happening at 18 to 24 months compared to four-plus years in standard infrastructure. At least 17 brokerages raised their price targets on Marvell, taking the median price target to $65, implying a 31% upside to the stock's last close.
Marvell Technology's shares surged by 23% after the chipmaker projected a big surge in revenue from the AI boom, following in the footsteps of larger peer Nvidia Corp. Marvell's CEO cited generative AI as a rapidly growing application that is changing investment priorities for cloud customers. The company forecast sales from AI-based offerings to double this year. At least 17 brokerages raised their price targets on Marvell, taking the median price target to $65, implying a 31% upside to the stock's last close.
