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AMD posted Q3 revenue of $13.38B (up 45% YoY) and adjusted EPS of $2.09 versus $1.95 expected, with Data Center revenue up 97% YoY to a record $8.5B. The real fuel was guidance: roughly $17B for Q4 against a $16.23B consensus, plus Lisa Su pointing to about 80% growth in 2027. Shares spiked more than 9% after hours before settling around +7%.
Early returns pointing to Democratic control of both chambers sent Nasdaq-100 futures down as much as 2.4% overnight on AI-regulation and data-center-permitting fears, while Dow futures surged roughly 900 points on gridlock expectations. By early Wednesday the complex had stabilized: S&P futures +0.2%, Nasdaq-100 +0.3%, Dow +0.5%. Hyperscalers were still mixed-to-lower premarket — Microsoft -0.9%, Amazon -0.9%, Alphabet -0.5%, Meta -0.5%, Apple -0.6%.
Super Micro reported fiscal Q1 2027 revenue of about $19.9B, up from roughly $5B a year earlier — nearly a 4x increase. The print landed alongside AMD's and together they took some air out of the "AI infrastructure is cracking" narrative. SMCI climbed close to 10% at one point in extended trade before easing to around +7%.
Arista delivered non-GAAP EPS of $1.20, a $0.12 beat, on revenue up 58.4% YoY to $3.66B — about $330M above its own guidance. Q4 guidance of $3.9B to $4.0B with a 48–49% non-GAAP operating margin signals continued expansion. Shares rallied 9.19% to $185.52 after hours.
Apple beat with record quarterly revenue of $114.48B, but guided December-quarter gross margin down to 45–46% on surging memory prices and Siri AI costs, and the stock slid about 4%. CEO John Ternus called the memory pricing environment "unprecedented" and said costs keep climbing beyond the December quarter. September-quarter gross margin already slipped to 47.9%.
Micron rose 3.28% to close at $860.96, clawing back part of Monday's 7% drop, with SK Hynix and SanDisk rallying alongside it. SK Hynix said DRAM and HBM output is effectively sold out through 2029 with customers asking for more than double what it can supply, and Samsung flagged a roughly 20% sequential jump in average DRAM selling prices. Commentary now points to shortages persisting toward 2030.
Per the Financial Times, OpenAI has trimmed its round from $30B to about $20B and its target valuation from $1.4T to roughly $1.25T as private AI investors pull back. The round is co-led by Abu Dhabi investors, and OpenAI simultaneously signed ADNOC, G42, and Mubadala agreements plus an expanded Oracle tie-up and a three-year ServiceNow deal. Not publicly traded — flagging as a sentiment read on private AI capital.
Anthropic filed its S-1 publicly on October 26 showing $16.3B in first-half revenue, up roughly 1,300%, against an $80.7B net loss. Reports place the roadshow as early as the week of November 9 with a debut targeted before Thanksgiving, and a talked-about valuation range of $1.5T to $2T versus the $965B post-money mark from May's $65B Series H. Pricing is not set. Not yet publicly traded.
Nvidia told cloud and data-center customers to keep at least 51% of their services sold outside China, per an FT report, tightening a workaround for restricted AI compute. Separately, Jensen Huang warned the US must take China's chipmaking and model capabilities seriously, with IDC data showing Nvidia's China shipments down 44% in the first half of 2026 and Huawei at 28% share. The stock still closed up 2.29% at $206.69 on the chip rebound; fiscal Q3 earnings land November 17.
Palantir posted revenue of $2.31B (up 96% YoY) and EPS of $0.44 against $2.17B and $0.41 expected, with US commercial revenue of $984M topping US government revenue of $953M for the first time. Full-year guidance went to $8.53B at roughly 91% growth with adjusted free cash flow of $4.8–5.0B. Shares fell anyway — down 3.08% to $178.44 and another 3.82% after hours — even as Morgan Stanley went to $233, Piper Sandler to $235, Truist to $250, and Citi to $265.
