Nvidia rose 1.2 percent in premarket trading, leading gains among the Magnificent Seven stocks. Key partner Hon Hai reported a better-than-expected quarterly profit, signaling strong global demand for AI hardware—a direct tailwind for Nvidia, which trades at $217.50. Market participants read Hon Hai's results as an early indicator of continued strength across the AI supply chain.
CoreWeave (CRWV) rallied 18 percent after the cloud-computing provider reported second-quarter results that surpassed expectations. Analysts cited the company's strong margins and continued demand for specialized AI computing infrastructure.
ERock (EROC) climbed 13 percent, driven by second-quarter revenue that beat consensus estimates and a new agreement with Anthropic to purchase 470 megawatts of onsite power equipment, securing future revenue streams.
Super Micro Computer (SMCI) jumped 9 percent after issuing a current-quarter revenue forecast that topped analyst estimates, reflecting strong sales of high-performance servers during accelerating data center buildouts. Lumentum (LITE) gained 8 percent after the optical equipment maker reported strong fourth-quarter results and an outlook above analyst consensus, pointing to improving enterprise spending.
Cava (CAVA) surged 13 percent after the restaurant chain reported second-quarter comparable store sales that beat average analyst estimates, with analysts pointing to strong consumer engagement including demand for its pomegranate glazed salmon. H&R Block (HRB) rose 15 percent after the tax preparation company beat fourth-quarter results and issued a stronger-than-expected full-year forecast, reflecting stable demand for tax services.
