Why Palantir and Nvidia Shares are Breaking Out
Baystreet·
- Palantir shares surged nearly 40% driven by 93% Y/Y revenue growth and strong Q3 expectations, while Nvidia stock jumped to 223.96 dollars after SpaceX announced it would exclusively use its GPUs.
- Market sentiment shifted to optimism during a 4-day rally ending August 5 where the Nasdaq added 3.5 trillion dollars in market capitalization, supported by Microsoft and Amazon reaffirming AI capital expenditure plans.
- Related optical network providers including Coherent, Lumentum, and Ciena also rose as AI servers require optical networks for effective operation.