Cloud Stocks: NVIDIA Still On a Roll Amid Rising Competition

NVIDIA (NASDAQ: NVDA) last week reported its second quarter results which beat all estimates. However, after three straight quarters of revenue growth above 200%, its growth of 122% seems a tad disappointing and its shares fell 8% in extended trading. This is a slight pullback after an astronomical rally following the AI boom. Its stock has zoomed over 750% since 2023 and 150% this year.

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Cloud Stocks: MongoDB Builds on Atlas’ Capabilities

MongoDB (Nasdaq: MDB) reported its second quarter results earlier this week that surpassed market expectations. The company continues to invest in AI tools and capabilities that are helping drive the adoption of Atlas.

IPOs 2024: Astera Labs Benefits from the AI Boom

According to a recent market report, the global Artificial Intelligence market is expected to grow 37% annually over the next few years to reach $2.75 trillion by 2032 from $177 billion in 2023. This is also propelling the growth of AI infrastructure companies. One such player is Astera Labs (NSDQ: ALAB) that listed recently and has seen its stock soar.

IPOs 2024: Reddit Explores Monetizing Through Data Licensing

Social engagement player Reddit (NYSE: RDDT) finally went public earlier this year. Reddit had been eyeing a listing for a while and had filed an S1 in 2022. But the market conditions delayed the listing. The recent listing appears to be doing well so far.

Cloud Stocks: Twilio Builds on Segment Acquisition

Communication Platform as a Service (CPaaS) player Twilio (NYSE: TWLO) recently announced its second quarter results that outpaced market expectations. The impressive outlook for the coming quarters sent the stock soaring 7% in the after-hours trading session.

Cloud Stocks: Amazon Sees Great Demand for its Gen AI Chips

Amazon (NASDAQ: AMZN) recently announced its second-quarter results that missed market expectations on revenue. Its stock tumbled on its revenue miss and weak outlook.

Apple’s AI Offerings Focus on Maintaining User Security

Earlier this month, Apple (Nasdaq: AAPL) announced its third quarter results that continued to outpace market expectations. Despite declining iPhone sales, Apple saw significant upside in its other businesses as it continues to push forward on its AI-focused journey.

Cloud Stocks: Google Introduces AI Copilots All Over Its Product Portfolio

Alphabet aka Google (Nasdaq: GOOG) recently reported its second quarter results that beat analyst estimates driven by strong and profitable growth in Google Cloud. Its quarterly Cloud revenues crossed the $10 billion mark for the first time and operating income crossed the $1 billion mark.

Meta Unveils Long Term AI Use Case Potential

Meta (Nasdaq: META), formerly Facebook, announced its quarterly results last week that outpaced market expectations. The market is also buoyed by the longer term vision for AI that Meta shared across its product portfolio.

Cloud Stocks: Microsoft Trying Hard to Keep up with AI Demand

This week, Microsoft (Nasdaq: MSFT) announced its fourth quarter results that surpassed market expectations. However, its Azure growth missed analyst estimates, the first time in two years, primarily due to supply constraints in meeting the Azure AI demand.