Ten companies stood firmer on Wednesday, outperforming a mixed performance on the broader market, as investors cheered cooler-than-expected inflation data, while placing bets on renewed optimism for artificial intelligence.

On Wall Street, only the S&P 500 and the tech-heavy Nasdaq finished in the green, up 0.30 percent and 0.03 percent, respectively. The Dow Jones, for its part, lost 0.48 percent.

Meanwhile, our list of 10 top performers on Wednesday was dominated by companies riding the AI boom, thanks to eye-popping developments in the overall industry. In this article, we detail the reasons behind their gains.

To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.

10. Broadcom Inc. (NASDAQ:AVGO)

Shares of Broadcom Inc. (NASDAQ:AVGO) rallied to a new all-time high on Wednesday as investors gobbled up shares on optimism that it could generate $120 billion in AI revenues over the next five years.

In intra-day trading, Broadcom Inc. (NASDAQ:AVGO) soared to its highest 52-week price of $372.97, before trimming gains to end the day just up by 9.77 percent at $369.57 apiece.

This followed a regulatory filing that Broadcom Inc.’s (NASDAQ:AVGO) board of directors moved to grant CEO Hock Tan a total of 610,521 performance stock units (PSU) that could generate him more than $676.89 million over the next five years.

Under the terms, the PSUs will be awarded if Tan can make Broadcom Inc. (NASDAQ:AVGO) generate $120 billion in AI revenues by 2030.

In case the maximum revenue target is not met, Tan will still be able to receive a 200-percent payout percentage of the PSU if the company books $105 billion in AI revenues; 100 percent in case of $90 billion in AI revenues; and none if the company clocks in $60 billion and below by the said timeline.

In case Tan leaves the company early, he could lose the award completely, except if for a good reason or is let go without cause, dies, or becomes permanently disabled.

In the fourth quarter of fiscal year 2024, the company generated $12.2 billion in AI revenues, expanding 220 percent year-on-year.

In the third quarter of fiscal year 2025, Broadcom Inc. (NASDAQ:AVGO) generated $5.2 billion in revenues from AI.

9. Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Credo Technology surged to a new all-time high on Wednesday, jumping 10.02 percent to close at $163.96 apiece as investors cheered the launch of a new digital signal processor (DSP) designed to support the requirements of next-generation Artificial Intelligence.

In intra-day trading, Credo Technology Group Holding Ltd (NASDAQ:CRDO) climbed to its fresh 52-week high of $164.04 before trimming gains to end the day just up by 10.02 percent at $163.96 apiece. Wednesday also marked its 7th straight day of gains.

This followed the company’s launch of the Bluebird on Tuesday, a high-performance, low-power DSP for 1.6 terabits per second (Tbps) optical transceivers, which enables energy-efficient data transmission essential to unlocking the advanced computational power of state-of-the-art GPU silicon.

“Next-generation AI networks require high-bandwidth, ultra-low latency, extreme reliability, and exceptional power efficiency. Many existing 1.6T transceivers suffer from high levels of power dissipation, constraining deployments due to the challenges with cooling and power delivery. This places limits on the widespread adoption of 1.6T technology,” Credo Technology Group Holding Ltd (NASDAQ:CRDO) said.

“The Credo Bluebird DSP aims to address these challenges by leveraging advanced CMOS process technology and Credo’s proprietary design techniques to deliver industry-leading power efficiency, allowing 1.6T transceivers to consume well under 20W,” it added.

8. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining rallied for a fourth straight day on Wednesday to touch a new 52-week high, as investors continued to place bets on digital infrastructure players amid renewed optimism for artificial intelligence.

In intra-day trading, Cipher Mining Inc. (NASDAQ:CIFR) climbed to its highest price of $10.43 before paring gains to end the day just up by 11.17 percent at $10.25 apiece. Wednesday also marked its fourth straight day of gains.

Following Nebius Group’s $18-billion cloud computing deal with technology giant Microsoft Corp., investors were quick to pile funds into Bitcoin miners, including Cipher Mining Inc. (NASDAQ:CIFR), which also operates high-performance computing (HPC).

At present, Cipher Mining Inc. (NASDAQ:CIFR) is underway with the expansion of its Black Pearl sites to support the growing demand in HPC from both AI and hydro-Bitcoin mining.

According to CEO Tyler Page, the site is expected to be fully leased by HPC tenants.

“By taking this approach to building infrastructure today, we will be prepared to sign tenants when they are ready, while also preserving our flexibility to use the space for bitcoin mining in the near term, if preferred. In short, Black Pearl Phase II infrastructure will enable us to monetize access to power quickly, whether via HPC tenants or bitcoin mining,” he added.

7. IREN Ltd. (NASDAQ:IREN)

IREN Ltd. extended its winning streak to a fourth consecutive day on Wednesday to reach another all-time high as investors took path from an investment firm’s price target upgrade, alongside continued optimism for the artificial intelligence sector.

During the session, IREN Ltd. (NASDAQ:IREN) climbed to its fresh 52-week peak of $33.64 before ending the day just 1 cent lower. Still, the stock was up by 11.39 percent.

In a market report, capital markets firm BTIG raised its price target for IREN Ltd. (NASDAQ:IREN) to $32 from $22 previously, while maintaining a “buy” recommendation for the stock.

The upgrade followed optimism from the company’s move to expand its GPU portfolio in July with the acquisition of 9,000 Nvidia GPUs, which brought its total ownership to 10,900 units. The expansion represented a fivefold increase from only 2,000 GPUs deployed in early 2024.

While focused on Bitcoin mining, IREN Ltd. (NASDAQ:IREN) is also expanding its AI business through the expansion of digital infrastructure to support the sector’s needs.

In August alone, IREN Ltd. (NASDAQ:IREN) announced earlier this week that revenues from its AI cloud business grew by 4.34 percent to $2.4 million last month from $2.3 million in July.

6. Applied Digital Corp. (NASDAQ:APLD)

Applied Digital climbed for a third straight day on Wednesday, adding 11.71 percent to end at $16.98 apiece as investor sentiment was boosted by an overall optimism for the artificial intelligence industry.

The company rallied alongside its counterparts, as investors piled funds into digital infrastructure players after Nebius Group, formerly focused on Bitcoin mining and now pivoting into AI hosting, has clinched an $18 billion cloud computing deal with technology giant Microsoft Corp. The deal underscored market appetite for scalable computing power.

For investors, placing bets in the industry could offer early exposure to a sector that is expected to boom in the future.

Late last month, Applied Digital Corp. (NASDAQ:APLD) finalized an expanded lease agreement with CoreWeave that could deliver the company as much as $11 billion in revenues.

The updated agreement now covers 400 MW of critical IT capacity across three long-term leases across Applied Digital Corp.’s (NASDAQ:APLD) purpose-built Polaris Forge 1 Campus in Ellendale, North Dakota.

“This…lease agreement with CoreWeave underpins our commitment to building the next generation of AI infrastructure right here in America’s heartland,” said Chairman and CEO Wes Cummins. “It also further reinforces the importance of North Dakota’s role in shaping the future of the digital economy and is another step in advancing its position as one of the most strategic destinations for AI in the world.”

5. Bloom Energy Corp. (NYSE:BE)

Shares of Bloom Energy rallied to a new all-time high on Wednesday, as investor funds flocked into AI stocks, supported by a new $43.9 million supply deal with India-based MTAR Technologies.

During the session, the stock soared to its highest 52-week price of $65.63 before trimming gains to end the day just up by 14.47 percent at $62.96 apiece.

According to reports, Bloom Energy Corp. (NYSE:BE) made orders from MTAR Technologies for hot box assemblies and electrolyzer units, critical to its solid oxide fuel cell (SOFC) systems.

Investors took the acquisition positively, especially with energy demand from data centers continuing to grow.

Last month, Bloom Energy Corp. (NYSE:BE) inked a supply agreement with Oracle Corp., under which it will deliver fuel cell technology to select Oracle Cloud Infrastructure (OCI) data centers in the US to support the growing demand for its cloud computing services. Details about expected revenues and supply volume have not been disclosed.

Bloom Energy Corp. (NYSE:BE) also hinted at similar deals “coming soon.”

In line with the booming artificial intelligence industry, Bloom Energy Corp. (NYSE:BE) said it was targeting to double its total capacity to 2 GW by the end of 2026 from 1 GW at present. Of the 1 GW, more than half is currently supplied to critical data centers.

4. CoreWeave Inc. (NASDAQ:CRWV)

CoreWeave extended its winning streak to a fourth straight day on Wednesday, surging 16.88 percent to end at $117.14 apiece as investors cheered its establishment of a new subsidiary aimed at backing companies supporting the AI ecosystem.

In a statement, CoreWeave Inc. (NASDAQ:CRWV) said it launched CoreWeave Ventures, a program that aims to support startups through investments, providing its AI cloud and technical guidance, as well as connecting them with firms already using AI.

“Our aim with CoreWeave Ventures is to give other audacious, like-minded founders the support they need to drive technical advancements and bring to market the next class of innovation,” said CoreWeave Inc. (NASDAQ:CRWV) founder and Chief Development Officer Brannin McBee.

According to the company, the new subsidiary is already working with a diverse group of innovators, from foundational model developers building novel large language models to pioneers in vertical AI applications and infrastructure.

In other developments, CoreWeave Inc. (NASDAQ:CRWV) earned a higher price target of $430 from Freedom Capital Markets, from $410 previously, while upgrading it to “hold” from “sell” previously.

3. Sable Offshore Corp. (NYSE:SOC)

Sable Offshore snapped a three-day losing streak on Wednesday, jumping 22.58 percent to close at $24.59 apiece as investors repositioned portfolios on optimism for the Las Flores pipeline’s restart this month.

It can be recalled that Sable Offshore Corp. (NYSE:SOC), in an updated report last August, announced targets of recommencing oil sales upon the expected restart of the onshore pipeline this September.

The Las Flores pipeline has been ordered shut since 2015 following a catastrophic pipeline rupture that resulted in a massive oil spill.

At present, the project is facing legal and regulatory roadblocks after multiple environmental organizations challenged Sable Offshore Corp. (NYSE:SOC), barring the restart of the pipeline.

In other recent news, Sable Offshore Corp. (NYSE:SOC) is facing a class action lawsuit over allegations that it provided misleading business updates, including restarting oil production off the coast when it had not, saying that statements about its “business, operations, and prospects, were materially false and misleading.”

Sable Offshore Corp. (NYSE:SOC) has yet to issue a statement on the allegations.

2. Travere Therapeutics, Inc. (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) soared to a new all-time high on Wednesday, as investors cheered the Food and Drug Administration’s (FDA) decision to cancel the creation of an advisory committee that would support the review of its drug application to treat focal segmental glomerulosclerosis (FSGS).

During the session, Travere Therapeutics, Inc. (NASDAQ:TVTX) touched its highest price of $28.69 before trimming gains to end the day just up by 26.2 percent at $27.31 apiece.

Investors took the decision positively as dropping the supposed advisory committee suggested that the FDA now has fewer concerns about the drug candidate.

Called Filspari, it would be the first ever treatment for FSGS, a leading cause of kidney failures.

“We are pleased with the progress of the sNDA to date and look forward to further supporting the FDA’s review of our application for Filspari in FSGS,” said Travere Therapeutics, Inc. (NASDAQ:TVTX) President and CEO Eric Dube.

Expected to be approved by January 2026, Travere Therapeutics, Inc. (NASDAQ:TVTX) said it is now in preparations for the commercial launch.

Filspari is an oral, non-immunosuppressive potential therapy that targets podocyte injury, a key driver of FSGS progression.

“FSGS is a leading cause of kidney failure, and for too long, patients have been waiting for approved therapies for this rare and devastating disease,” Dube said.

1. Oracle Corp. (NYSE:ORCL)

Shares of Oracle Corp. propelled to a new all-time high on Wednesday, as investors took heart from the company’s $144 billion AI revenue target over the next four years.

“We expect Oracle Cloud Infrastructure revenue to grow 77 percent to $18 billion this fiscal year—and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years. Most of the revenue in this 5-year forecast is already booked in our reported RPO. Oracle is off to a brilliant start to FY26,” Oracle Corp. (NYSE:ORCL) CEO Safra Catz said in a statement.

In the first quarter of the year alone, Oracle Corp. (NYSE:ORCL) signed four multi-billion-dollar contracts with three customers, resulting in an RPO contract backlog of $455 billion.

“It was an astonishing quarter, and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign up several additional multi-billion-dollar customers, and RPO is likely to exceed half a trillion dollars,” she added.

For his part, Chairman and CTO Larry Ellison said the company’s MultiCloud database revenues from Amazon, Google, and Microsoft alone grew at an incredible rate of 1,528 percent in the first quarter, adding that he expects the company to grow substantially every quarter in the next few years amid the targeted delivery of another 37 data centers to three of its hyperscaler partners.

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