Ten stocks boasted double-digit gains last week, amid a flurry of positive corporate developments and a broader market optimism, thanks to the two-week truce between the US and Iran.
The stocks notably clocked 20 to 50 percent gains week-on-week and were dominated by companies riding the AI wave. In this article, we spotlight the 10 top performers and explore the reasons behind their gains.
To come up with the list, we focused on the companies with a $2 billion market capitalization and 5 million shares in trading volume.
The stocks were chosen based on the percentage change in their share prices on April 2 and 10, 2026.
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10. AXT Inc. (NASDAQ:AXT)
AXT grew its share prices by 21.46 percent week-on-week, as investors snapped up its shares ahead of the results of its first quarter earnings performance, helped by the management’s upbeat outlook for the period.
AXT Inc. (NASDAQ:AXT) is scheduled to announce its financial and operating highlights on April 30, 2026, to be complemented by a conference call to elaborate on the results.
In its last earnings call, AXT Inc. (NASDAQ:AXT) issued a “sequential revenue growth” outlook for the first quarter of the year after gaining progress on its export permits for indium phosphide early in the year.
The development bolstered targets of doubling its manufacturing capacity by the end of the year, as it eyes capturing a significant share in the rapidly growing artificial intelligence sector.
“We are in a strong position to achieve sequential revenue growth in Q1, driven primarily by growth in indium phosphide for the AI infrastructure build-out,” AXT Inc. (NASDAQ:AXTI) CEO Morris Young said.
“We are … on track to double our indium phosphide manufacturing capacity this year and have a strong balance sheet to support our continued business expansion,” he noted.
Last year, AXT Inc. (NASDAQ:AXTI) widened its attributable net loss by 83 percent to $21.26 million from $11.6 million in 2024. Revenues also declined by 11 percent to $88 million from $99 million year-on-year.
In the fourth quarter alone, attributable net loss narrowed by 31 percent to $3.5 million from $5.09 million, while revenues dropped by 8 percent to $23 million from $25 million.
9. Bloom Energy Corp. (NYSE:BE)
Bloom Energy rallied by 22.9 percent week-on-week, as investors welcomed the appointment of a new chief finance officer (CFO), while positioning portfolios ahead of the results of its earnings performance.
On Monday, April 13, Simon Edwards is set to assume the role of CFO, filling a position that has been vacant for more than a year.
Edwards boasts nearly two decades of experience scaling technology companies, having been chief executive officer for AI-inference firm Groq, after initially joining the latter as CFO.
At Groq, Edwards led global financial operations and guided the company through a period of expansion, infrastructure build-out, and its recent licensing agreement with Nvidia Corp.
Apart from Groq, he also held CFO positions at Conga and ServiceMax, as well as CFO for GE Digital.
“Simon brings deep experience across finance and financial operations, along with the discipline, systems thinking and technology leadership needed as Bloom rapidly builds the power platform for the digital economy and beyond,” Bloom Energy Corp. (NYSE:BE) Chairman and CEO KR Sridhar said.
“His engineering foundation, background in software and experience scaling AI infrastructure will be highly relevant as industries face increasing constraints around power availability. He will further strengthen our accomplished management team. We are pleased to welcome Simon to Bloom,” he added.
Likewise, investors loaded portfolios ahead of the results of Bloom Energy Corp.’s (NYSE:BE) earnings performance for the first quarter of the year. A conference call will be held to elaborate on the results.
Market participants are expected to closely watch for Bloom Energy Corp.’s (NYSE:BE) outlook for the year, as well as Edwards’ financial strategy to support the next phase of growth.
8. CoreWeave Inc. (NASDAQ:CRWV)
CoreWeave soared by 24 percent week-on-week, after securing new billion-dollar deals from Meta Platforms Inc. and Anthropic for the delivery of computing capacity to support their artificial intelligence needs.
On Thursday alone, Meta raised its contract with CoreWeave Inc. (NASDAQ:CRWV) to $35.2 billion from $14.2 billion previously, after inking a new $21 billion contract, which will cover multiple locations through 2032. The expanded partnership would include some of the initial deployments of Nvidia Corp.’s Vera Rubin platform.
Separately, CoreWeave Inc. (NASDAQ:CRWV) on Friday secured another multi-year deal with AI startup Anthropic for the development and deployment of the latter’s Claude family of AI models.
Anthropic marks the ninth leading AI model provider to use the CoreWeave platform.
In other news, CoreWeave Inc. (NASDAQ:CRWV) is planning to raise $5.25 billion in fresh funds from two debt market offerings, of which $3.5 billion would come from convertible senior notes due 2032, while another $1.75 billion would be raised from the offer of 9.75 percent senior notes due 2031.
The convertible series will yield a 1.75-percent interest payable twice a year—on every 1st day of April and October of each year until the maturity date—with the first payment expected in October this year.
Before the notes mature, noteholders will have the option to convert their holdings into shares at an initial conversion rate of 8.3612 Class A shares for every $1,000 notes held, or equivalent to $119.60 per share—a 17 percent premium over its closing price of $102 on Friday.
Both offers are set to close on Tuesday, April 14. Proceeds will be used for general corporate purposes and the repayment of outstanding debt, among others.
7. Astera Labs Inc. (NASDAQ:ALAB)
Astera Labs saw its share prices surge by 27.2 percent week-on-week, as investors loaded portfolios amid expectations of a robust earnings performance for the first quarter of the year.
In a notice to investors, Astera Labs Inc. (NASDAQ:ALAB) said that it would report its financial and operating highlights after market close on May 5, 2026, to be accompanied by a conference call to elaborate on the results.
In its last earnings call, the company issued a highly optimistic outlook for the first quarter of the year, with revenues targeted to grow by 78 percent to 86 percent year-on-year to a range of $286 million to $297 million, versus $159.4 million in the same period a year earlier.
GAAP diluted earnings per share are also expected to at least double to a range of $0.36 to $0.38, as compared with the $0.18 in the same comparable quarter.
Likewise, optimistic sentiment was buoyed by renewed confidence for AI players and the easing tensions in the Middle East.
In other news, Astera Labs Inc. (NASDAQ:ALAB) earlier this year announced plans to expand its global engineering operations in Israel with the establishment of an advanced research and development center.
Astera Labs Inc. (NASDAQ:ALAB) said that the new design center would accelerate the development of its next-generation scale-up fabrics for high-bandwidth connectivity protocols, while also advancing technical research and development to address memory bottlenecks in AI training and inference applications.
6. Cipher Digital Inc. (NASDAQ:CIFR)
Cipher Digital climbed by 28.9 percent week-on-week as investors poured funds into companies riding the AI wave, helped by an overall market optimism after the US and Iran struck a two-week ceasefire.
The stock rallied alongside its high-performance computing (HPC) counterparts. Technology stocks were among the most favored sectors as they were seen as less vulnerable to the Middle East tensions.
In recent news, Cipher Digital Inc. (NASDAQ:CIFR) bagged a 15-year leasing deal with a major hyperscaler for the development and delivery of a new HPC data center at one of its existing sites.
“This agreement for our third large AI campus reinforces Cipher’s position as a trusted partner to develop high-quality HPC data center infrastructure for the world’s leading companies,” Cipher Digital Inc. (NASDAQ:CIFR) CEO Tyler Page said.
Additionally, Cipher Digital Inc. (NASDAQ:CIFR) successfully raised $200 million in fresh funds from a revolving credit facility, with an option to upsize the amount by up to $50 million.
Proceeds from the offer will be used to enhance liquidity, support working capital, and fund growth initiatives.
The credit facility bears interest at the secured overnight financing rate plus 1.25 percent to 1.75 percent.
While we acknowledge the potential of CIFR 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 CIFR and that has 100x upside potential, check out our report about the cheapest AI stock.
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