AI Earnings Lead to Record Gains

Aug 28, 2025

Earnings season is now more or less in the rearview, especially after the final mega-cap result released after yesterday’s close—that is NVIDIA (NVDA).  As one of the most prolific AI players, NVDA is trading modestly lower in response to decelerating growth reported in its results.  Elsewhere in the AI space, this earnings season (or more specifically, this week) has seen enormous moves on earnings.  As we discussed in The Closer last night, earnings results of our AI Basket members have been generally positive, although stock price reactions have not been overwhelmingly positive. With that said, a few names have experienced explosive moves on earnings. PureStorage (PSTG) reported a triple play last night as the company is realizing revenues from a recent deal with Meta Platforms (META).  In response, the stock surged over 30% in Thursday’s session. That’s good enough for the stock’s largest single-day gain in the nearly 10 years since it hit the public markets.  Just prior to PSTG results, Tuesday night saw a triple play come from database software maker MongoDB (MDB).  We covered the earnings call in yesterday’s Conference Call recap, and that release highlighted substantial growth in its Atlas cloud database in large part thanks to enterprise usage of AI.  Like PSTG, MDB experienced a record daily gain after that earnings Triple Play.  As for the long-term charts, the two stocks’ recent moves are in the context of opposite trends. For PSTG, the jump on earnings brings it to new highs, re-establishing what has been a multi-year uptrend. Meanwhile, MDB has made a series of lower highs since late 2021, albeit things could have been worse as there have been no lower lows made since the late 2022 bottom.

Using data from our Earnings Explorer Tool, below we show the stocks that have risen the most on earnings since the start of the quarter.  Each of these names rallied at least 30% in response to quarterly results and those include PSTG and MDB. In fact, those two stocks were the largest market caps on this list, with the next largest stock being Medpace (MEDP), which rose an astounding 54.7% after its late July report. Apart from PSTG and MDB, AI-adjacent businesses were a theme in other big gainers such as CommScope (COMM), Xometry (XMTR), and Applied Digital (APLD).