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AI & Enterprise
Snowflake shares jump 22 percent after hours on better-than-expected results and outlook
Snowflake shares rose 22 percent in after-hours trading on Sept. 2 after the AI data cloud company posted quarterly results and an outlook that beat market expectations. Fiscal second-quarter revenue increased 35 percent from a year earlier. Net loss narrowed to $191.7 million, or 55 cents per share. Growth in the AI coding agent Coco also supported performance, with accounts rising to 9,100 after adding more than 2,000 this quarter.
AI & Enterprise
Nvidia extends seven-session slide as hyperscaler reliance comes into focus ahead of results
Nvidia\'s quarterly results are putting renewed focus on its reliance on hyperscalers, with Wall Street watching whether revenue concentration among a few large customers tests long-term growth. Nvidia has split data center customers into hyperscalers and ACIE since May. Its shares have fallen for seven straight sessions as investors weigh whether major customers can keep increasing spending. Analysts expect ACIE growth to overtake hyperscalers and are also watching sales of the Vera Rubin system.
AI & Enterprise
Zscaler shares plunge more than 30 percent in a day after weaker guidance
Shares of cybersecurity firm Zscaler fell more than 30 percent on May 27, the report said, after the company issued guidance that fell short of expectations despite quarterly results beating forecasts. Zscaler projected fiscal 2027 annual recurring revenue growth of 16 to 17 percent year on year, below StreetAccount estimates, and gave quarterly revenue guidance of $875 million to $878 million, slightly under FactSet’s forecast.