Ten stocks capped off the trading week, boasting double-digit gains, buoyed anew by billion-dollar investments in AI coupled with strengthened expectations of an interest rate cut.
The stocks outperformed Wall Street’s indices, which all finished in the green territory on Friday. The Nasdaq led gains, up 1.15 percent, followed by the Dow Jones, rising 1.01 percent, and the S&P 500 jumping 0.79 percent.
In this article, we highlight the 10 top-performing stocks on Friday and detail the reasons behind their gains.
To come up with the list, we focused on companies with more than $2 billion in market capitalization and 5 million shares in trading volume.
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10. IREN Ltd. (NASDAQ:IREN)
IREN saw its share prices surge by 12.60 percent on Friday to close at $62.90 apiece as investor funds poured into stocks riding the artificial intelligence (AI) wave after getting a boost from Oracle Corp.’s massive $38 billion expansion program.
The stock rallied alongside its Bitcoin mining and high-performance computing (HPC) peers, as Oracle’s announcement allayed fears of an AI bubble and strengthened optimism that infrastructure demand for next-generation AI will continue to be sustainable.
In other developments, investors loaded up shares in IREN Ltd. (NASDAQ:IREN) ahead of the release of its earnings performance for the first quarter of fiscal year 2026 after market close on Thursday, November 6, 2025.
Earlier this year, IREN Ltd. (NASDAQ:IREN) signaled plans to transition slowly into AI servicing from purely Bitcoin mining to take advantage of the former’s rapid growth.
Last month, IREN Ltd. (NASDAQ:IREN) successfully deployed 11,000 Nvidia Blackwell GPUs to its existing AI partners, with full operations targeted by the end of the year. Meanwhile, the remaining 12,000 GPUs are on track to be delivered by the end of the first quarter next year and generate $500 million in annualized recurring revenues (ARR) from AI alone.
9. Opendoor Technologies Inc. (NASDAQ:OPEN)
Opendoor jumped by 13.37 percent on Friday to finish at $7.97 apiece as investor sentiment was fueled by increasing certainties of an interest rate cut.
The US central bank is set to meet for its next Federal Open Market Committee (FOMC) meeting to decide on interest rates, and economists are already heavily betting on a 25-basis point rate cut following a lower-than-expected rise in September consumer inflation that solidified rate cut expectations.
Meanwhile, any cut move stands to benefit Opendoor Technologies Inc. (NASDAQ:OPEN) and its real estate counterparts—an industry highly sensitive to interest rates—as it could significantly unlock greater lending potential by encouraging more borrowings from homebuyers.
Additionally, the Federal Reserve is projected to announce one more rate cut by the end of the year, largely supporting borrowing volume, as well as Opendoor Technologies Inc.’s (NASDAQ:OPEN) ambitious plan to expand in the entire US.
8. Garrett Motion Inc. (NASDAQ:GTX)
Garrett Motion capped Friday’s trading soaring to a new all-time high as investors continued to digest impressive earnings for the past quarter, alongside a higher growth outlook.
At intra-day trading, the stock soared to a record high of $17.05 before trimming gains to finish the day up by 13.8 percent at $16.99 apiece.
In an updated report on Thursday, Garrett Motion Inc. (NASDAQ:GTX) said it grew its net income by 48 percent to $77 million from $52 million in the same period last year, on the back of a $20 million jump in gross profit, $8 million lower interest cost, and a $2 million increase in non-operating income.
Net sales, on the other hand, rose by 9.2 percent to $902 million from $826 million year-on-year, primarily driven by higher demand in gasoline and diesel, a favorable currency impact, and recoveries on enacted import tariffs.
Following the results, Garrett Motion Inc. (NASDAQ:GTX) raised its full-year net income projection to a range of $265 million to $295 million, versus the $233 million to $278 million previously.
Net sales projection was also upgraded to a range of $3.5 billion to $3.6 billion, versus the $3.4 billion to $3.6 billion prior.
7. QuantumScape Corp. (NYSE:QS)
QuantumScape extended gains for a second day on Friday, jumping 14.73 percent to finish at $16.82 apiece as investors continued to load up portfolios amid impressive earnings performance in the third quarter of the year.
Last Wednesday, QuantumScape Corp. (NYSE:QS) said it narrowed its net loss by 11.5 percent to $105.8 million from $119.6 million in the same period last year, while loss from operations dwindled by 11.6 percent to $114.99 million from $130.16 million year-on-year.
In the same quarter, the company successfully shipped its most advanced QS cells to date—the Cobra-based QSE-5 B1—following the launch of the product through the Volkswagen Group’s Ducati V21L motorcycle.
In line with its expansion program, QuantumScape Corp. (NYSE:QS) is underway with the installation of a highly automated cell production pilot line, the Eagle Line, at its headquarters in San Jose, California.
“We are working together with our partners to bring our groundbreaking solid-state lithium-metal battery technology to market as quickly as possible. This announcement is another critical step toward achieving our goal of revolutionizing energy storage,” QuantumScape Corp. (NYSE:QS) COO Luca Fasoli said.
6. Hut 8 Corp. (NASDAQ:HUT)
Hut 8 rallied for a second day on Friday, surging 17.27 percent to finish at $47.66 apiece as investors poured funds into high-performance computing (HPC) firms, boosted by Oracle Corp.’s massive $38 billion data center expansion.
Hut 8 Corp. (NASDAQ:HUT) rallied alongside its counterparts, namely IREN Ltd. and Cipher Mining Inc., as Oracle’s announcement strengthened investor optimism that infrastructure demand for the next-generation AI continues to be sustainable.
In other news, Hut 8 Corp. (NASDAQ:HUT) recently earned a 124 percent price target increase from Piper Sandler to $74 versus $33 previously, on optimism for its ongoing development of 1.5 GW of power across four sites in the US.
Piper Sandler noted that the share price has yet to reflect Hut 8 Corp.’s (NASDAQ:HUT) exclusive rights to build another 1.3 GW, suggesting further upside potential for the stock.
5. Fermi Inc. (NASDAQ:FRMI)
Fermi snapped a five-day losing streak on Friday, jumping 18.65 percent to close at $23.54 apiece, mirroring the broader market optimism, thanks to renewed optimism for the artificial intelligence (AI) industry.
Fermi Inc. (NASDAQ:FRMI), an energy and data center infrastructure company, is set to benefit more data center developments, known to take up a huge demand for power over the next few years.
Additionally, the rally can be attributed to bargain-hunting after Fermi Inc. (NASDAQ:FRMI) fell to an all-time low during the week, having been dented by analyst concerns about its steep valuation.
Since its market debut on October 1, the company has now been valued at $14.07 billion.
During its initial public offering, Fermi Inc. (NASDQ:FRMI) was able to raise $682 million in fresh funds covering 32.5 million shares at a price of $21 apiece, proceeds of which will be used to support the continued growth and development, secure personnel, and other general corporate purposes.
4. Grindr Inc. (NYSE:GRND)
Grindr Inc. surged by 18.86 percent on Friday to close at $15.06 apiece as investors gobbled up shares following news that it was offered to be taken private for a transaction potentially worth $3.46 billion.
In a statement, Grindr Inc. (NYSE:GRND) said that the privatization followed proposals from two large shareholders—Ray Zage and James Lu, who already own more than 60 percent of the company—to raise their ownership at a price of $18 per share. The figure represented a 19.5 percent upside potential from its latest closing price.
The plan followed reports that members of the board, alongside independent directors who form part of a special committee, showed a lack of interest in a possible transaction involving the firm.
“The Special Committee, in consultation with its legal and financial advisors, is reviewing the unsolicited take-private proposal and will be evaluating the best path forward for all shareholders,” Grindr Inc. (NYSE:GRND) said, adding that the proposed transaction was not guaranteed.
3. Clover Health Investments, Corp. (NASDAQ:CLOV)
Clover Health surged by 19.37 percent on Friday to close at $3.82 apiece as investors took heart from a “buy” recommendation from an investment firm.
In a market note, Zacks Research upgraded Clover Health Investments, Corp. (NASDAQ:CLOV) to “buy,” following an upward trend in earnings estimates—one of the most powerful forces impacting stock prices.”
“For the fiscal year ending December 2025, [Clover Health Investments, Corp. (NASDAQ:CLOV)] is expected to earn $0.10 per share, which is unchanged compared with the year-ago reported number. Analysts have been steadily raising their estimates for Clover Health Investments. Over the past three months, the Zacks Consensus Estimate for the company has increased 25 percent,” the note said.
Based on its historical reporting dates, Clover Health Investments, Corp. (NASDAQ:CLOV) is expected to release the results of its third quarter financial and operating highlights on November 6, 2025.
2. Cipher Mining Inc. (NASDAQ:CIFR)
Cipher Mining soared by 19.73 percent on Friday to finish at $20.66 apiece as investors hunted for AI stocks amid renewed optimism supported by Oracle Corp.’s $38 billion data center expansion deal.
During the session, Cipher Mining Inc. (NASDAQ:CIFR) rallied alongside its counterparts, namely IREN Ltd. and Hut 8 Corp., as Oracle’s announcement strengthened optimism for sustained infrastructure demand to power the next-generation AI.
In other developments, investors began repositioning portfolios ahead of Cipher Mining Inc.’s (NASDAQ:CIFR) third quarter earnings results before market open on Monday, November 3. A conference call will be held to elaborate on the results.
AI aside, Cipher Mining Inc. (NASDAQ:CIFR) earlier this month announced that it was able to produce 251 Bitcoins in September, marking an increase of 10 units from 241 in August, thanks to a higher self-operating hash rate of 23.6 EH/s versus 23 EH/s in the same comparable period.
It also sold 158 Bitcoins during the period, versus 42 units in August, taking advantage of the surge in Bitcoin prices during the period.
1. Fluence Energy Inc. (NASDAQ:FLNC)
Fluence Energy jumped by 21.77 percent on Friday to close at $19.52 apiece as investors hunted for stocks that are expected to benefit from the booming AI.
Fluence Energy Inc. (NASDAQ:FLNC) rallied alongside its counterparts, boosted by Oracle Corp.’s new $38 billion data center expansion deal that strengthened optimism for a sustainable demand for data center infrastructure to power the next-generation AI.
Earlier this month, the company clinched a partnership with Torch Clean Energy for the development of a 160-MW solar project with a battery energy storage system in Arizona.
Fluence Energy Inc. (NASDAQ:FLNC) said it committed to supply the project with its advanced Gridstack Pro 5000 energy storage solution, with delivery targeted in early 2027.
The project features two 80 MW solar arrays, which are expected to support the energy needs and economic development in Cochise County, Arizona.
“This facility is a great step toward ensuring affordable, reliable, and secure power for the local community and will support regional economic activity and expected load growth for many years to come,” said John Zahurancik, president of Fluence Americas, a unit of Fluence Energy Inc. (NASDAQ:FLNC).
For its part, Torch Clean Energy said it was excited to partner with Fluence Energy Inc. (NASDAQ:FLNC) to manufacture the energy storage system for its project.
“The Gridstack Pro 5000 will allow us to shift cost-effective solar generation to be dispatched when the grid needs it most,” said Torch Clean Energy President Travis Haggard.
While we acknowledge the potential of FLNC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FLNC and that has 100x upside potential, check out our report about the cheapest AI stock.
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