Ten stocks have seen their share prices climb by double-digits last week, thanks to a flurry of corporate developments and industry-related news that boosted buying appetite.
The stocks grew alongside the three major indices. Week-on-week, the Dow Jones led gains, up 2.11 percent, followed by the Nasdaq, up 0.83 percent, and the S&P 500, rising 0.78 percent.
Indices aside, we spotlight the 10 stocks that performed the most last week and break down the reasons behind their gains.
To come up with the list, we considered the stocks with a $2 billion market capitalization. The stocks were chosen based on their percentage growth between May 15 and 22, 2026.
Photo by Mizuno K on Pexels
10. Voyager Technologies Inc. (NYSE:VOYG)
Voyager Technologies surged by 29.6 percent week-on-week after its joint venture firm secured the backing of 1789 Capital to support its expansion into the low-Earth orbit (LEO) market.
In a statement on Thursday, Voyager Technologies Inc. (NYSE:VOYG) said that Starlab Space Stations, a company it jointly ventures with Airbus, Mitsubishi Corporation, MDA Space, Palantir Technologies, and Space Applications Services, secured funding support from 1789 Capital in line with the latter’s expanded investments in critical infrastructure, such as digital and orbital, among others.
“As the ISS (International Space Station) approaches retirement, we cannot afford a gap in American presence in low-Earth orbit while the Tiangong is expanding and competing for dominance in the orbital economy,” Voyager Technologies Inc. President Matt Kuta said.
“Starlab is how the United States answers that challenge, not just for the commercial market, but for every national security and scientific mission that depends on assured access to LEO,” he noted.
In other news, the rally can also be attributed to portfolio positioning ahead of upcoming conferences late this month and in June.
According to Voyager Technologies Inc., it is set to participate in the KeyBanc Capital Markets Industrials & Basic Materials Conference in Boston on May 31, as well as the Wells Fargo 2026 Industrials Conference in Chicago on June 10, and the Deutsche Bank Defence Conference on June 22.
9. RXO Inc. (NYSE:RXO)
RXO Inc. saw its share prices jump by 30.4 percent week-on-week as investors positioned portfolios after the company turned optimistic about its business, thanks to the rapid increase in truckload spot rates and better gross profits last month.
In an updated report earlier in the week, RXO Inc. (NYSE:RXO) said that its proprietary Curve truckload market forecast has shown rapidly rising truckload spot rates, excluding the impacts of fuel.
Spot rates in the first quarter of the year rose by 16.5 percent year-on-year, the highest reading since the third quarter of 2021 and markedly faster than the 5.2 percent in the fourth quarter of 2025.
As of May 15, RXO Inc. said that the Curve is on pace to finish the second quarter at an even higher mark, on the back of continued attrition of carrier capacity, and federal regulation enforcement, which has led to a supply imbalance relative to demand.
“We’re seeing significant linehaul and contract rate increases, despite muted shipper demand. Carriers remain under immense cost pressure, driven by increasing labor expenses, a higher cost of capital, insurance premiums, and, of course, diesel prices. The recent surge in rates, primarily due to continued capacity exits, has allowed carriers to begin to offset these inflationary pressures. If there is any uptick in shipping volumes, rates will rise at an even faster pace,” RXO Inc. Chief Strategy Officer Jared Weisfeld said.
Also last week, the company reported improved truckload gross profit per load in May. While still flat from April levels, the figures would finish better than the decline it projected earlier this year.
Similarly, it was able to outperform the market, with its April full-truckload volume declining by only 2 percent, as compared with the industry’s 4 percent overall dip, as measured by the Cass Freight Index.
8. Infleqtion Inc. (NYSE:INFQ)
Infleqtion soared by 31.4 percent week-on-week, as investors gobbled up its shares after earning the backing of the US government for the development of quantum computers capable of solving the world’s most pressing problems, among others.
Earlier in the week, Infleqtion Inc. (NYSE:INFQ) was named among the nine firms set to receive incentives from the Department of Commerce’s $2.013 billion funding incentives.
The listed firm alone will receive will receive $100 million to help develop the underlying engineering systems and integration requirements for large-scale neutral-atom-based quantum computers and architectures, including high-powered optical systems, novel readout, and error correction systems.
“Quantum computing is emerging as a foundational technology for economic competitiveness, technological leadership, and national security. This investment reflects the transformative potential of quantum innovation, and we’re honored to work with the Department of Commerce to accelerate US leadership in quantum computing,” Infleqtion Inc. CEO Matt Kinsella said.
Apart from Infleqtion Inc., other companies also include Rigetti, D-Wave, Atom, Diraq, PsiQuantum, and Quantinuum.
Meanwhile, chip manufacturers GlobalFoundries and IBM also received financial incentives, with the latter taking up the largest slice at $1 billion, followed by the former at $375 million.
7. Astera Labs Inc. (NASDAQ:ALAB)
Astera Labs surged by 31.9 percent week-on-week, as investors snapped up its shares after earning upbeat ratings and price targets from market analysts.
In the latest episode of Mad Money, host and former hedge fund manager Jim Cramer advised a caller to “hold” shares in Astera Labs Inc. (NASDAQ:ALAB).
“We have nothing to worry about. You’re playing with the house’s money. You can never lose money. You can make a lot of money. I say you hold on,” Cramer said.
“I say you stand pat with what’s left. That’s what we’re trying to do with the club. It’s so hard, but we take out our money, we win,” he noted.
For its part, Evercore ISI issued an outperform rating for its stock, alongside a $297 price target.
In other news, Astera Labs Inc. is set to participate in the 54th Annual Technology, Media & Telecom Conference by TD Cowen in New York on May 27, as well as the 2026 Evercore Global TMT Conference in San Francisco on June 3. Investors are expected to watch for its outlook and updates about its business.
The company earlier this month unveiled a new memory-semantic fabric switch called the Scorpio X-Series 320 Lane, designed to improve token economics and support large-scale clusters with minimal latency.
According to Astera Labs Inc., Scorpio’s software-defined architecture is designed to integrate seamlessly with leading merchant and custom silicon, enabling AI labs and hyperscalers to integrate and deploy new accelerator platforms for both training and inference.
6. Birkenstock Holding Plc (NYSE:BIRK)
Birkenstock climbed by 32.7 percent week-on-week, after executing a $250-million accelerated share buyback program, amid the company’s belief that it remains undervalued.
In a report earlier in the week, Birkenstock Holding Plc (NYSE:BIRK) said that it entered into an accelerated share repurchase agreement with Goldman Sachs, under which the latter would initially deliver 6 million shares, or 80 percent of the total.
The final number of shares has yet to be determined, but based on the set purchase price of $33.21 apiece, Birkenstock Holding plc (NYSE:BIRK) is set to receive over 7.5 million shares from the transaction.
The listed shoemaker said that it intends to fund the buyback through a combination of cash on hand and a revolving credit facility. It expects to close the transaction before June 30, 2026.
“Short-term market dynamics have resulted in what we believe is a strong disconnect between our share price and the strength of our underlying fundamentals,” Birkenstock Holding plc (NYSE:BIRK) CEO Oliver Reichert said.
”We believe deploying our substantial cash position toward repurchasing our own shares represents the most attractive use of capital in the current environment. Given the volatile environment of the capital markets, we will continue evaluating market conditions to take advantage of further opportunities for share repurchases in the future,” he noted.
The agreement is not guaranteed and is subject to certain customary adjustments and termination provisions.
5. Navitas Semiconductor Corp. (NASDAQ:NVTS)
Navitas rallied by 37.2 percent week-on-week, as investors loaded portfolios ahead of its participation in a three-day conference, where it would showcase its latest gallium nitride (GaN) and GeneSiC silicon carbide (SiC) products to support today’s high-growing sectors.
In a notice earlier in the week, Navitas Semiconductor Corp. (NASDAQ:NVTS) said that it would take part in the PCIM 2026 in Nuremberg, Germany, from June 9 to 11, to discuss the future of GaN and SiC and key issues surrounding various industries, including automotive, AI, humanoid robots, and the evolution in data center power distribution, among others.
It will also showcase its latest GaN and SiC power semiconductors catered to the needs of AI data centers, energy and grid infrastructure, and industrial electrification, specifically exhibiting two solutions that enable a swifter transition to the 800 VDC standard using GaN, as well as two SST topologies enabled by Navitas GeneSiC UHV and HV technology.
In other news, Navitas Semiconductor Corp. more-than-doubled its net loss in the first quarter of the year to $33.78 million from $16.8 million in the same period last year. Net revenues also declined by 38 percent to $8.6 million from $14 million year-on-year.
4. T1 Energy Inc. (NYSE:TE)
T1 Energy surged by 42.5 percent week-on-week, with the rally primarily driven by a combination of optimistic analyst ratings and bargain-hunting after a sell-off triggered by a short-seller report.
Earlier in the week, short seller Fuzzy Panda released a report about T1 Energy Inc. (NYSE:TE), claiming that the company was not compliant with the foreign entity of concern (FEOC) regulations and thus not eligible for tax credits from the US government.
The report said that T1 Energy Inc.’s sale of intellectual property to Singaporean firm Evervolt was designed to achieve FEOC compliance, but that the latter had undisclosed connections with Chinese solar firm Trina Solar.
Fuzzy Panda claimed that Evervolt, owned by Tan Chin Piaw, has maintained business relationships with Trina Solar for more than 15 years, and that 99 percent of its revenues came from the latter.
However, investment firm Roth Capital backed the company, recommending investors to take the intra-week fall as an opportunity to load up on its shares.
It said that T1 Energy Inc. is a “model for what the Trump administration may want in a domestic manufacturer that is transferring advanced technology and capacity to the US.”
In other news, the solar firm reported wider net losses attributable to shareholders in the first quarter of the year, by 25 percent to $21.4 million from $17.1 million in the same period last year. It also incurred $241,000 in revenues during the period, versus none year-on-year.
3. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave saw its share prices increase by 44.5 percent week-on-week, as investors took heart from its recently secured $100-million financial backing from the US government to help accelerate the development of quantum computers.
The US Department of Commerce announced on Thursday that it would invest over $2 billion in nine companies in a bid to support US leadership in quantum computing.
D-Wave Quantum Inc. (NYSE:QBTS) alone secured $100 million in fresh funds from the department in exchange for its shares valued at that amount, essentially making the DOC an investor.
Proceeds from the funds will be used to accelerate the development of annealing and gate-model quantum systems, including at its forthcoming research and development (R&D) facility in Boca Raton, Florida, as well as its R&D centers in New Haven, Connecticut, and Burnaby, Canada.
“We believe that the US government’s strategic investment in D-Wave would advance the country’s global leadership position in quantum computing,” D-Wave Quantum Inc. CEO Alan Baratz said.
“The award would accelerate D-Wave’s ability to scale quantum innovation domestically, expedite key fabrication processes, and deliver real-world quantum applications to our global customers today. We see this as a transformative moment for not just D-Wave, but also for quantum computing and the United States,” he added.
Apart from D-Wave Quantum Inc., other companies also include Atom Computing, Diraq, Infleqtion, PsiQuantum, Quantinuum, and Rigetti Computing. The chipmakers, on the other hand, were IBM and GlobalFoundries.
2. Arm Holdings plc (NASDAQ:ARM)
Arm Holdings climbed by 46.5 percent week-on-week, as investor optimism was primarily bolstered by an investment firm’s confidence that it is capable of growing its profits fivefold by 2030.
In a market note earlier in the week, Bernstein said that the coverage reflected the renaissance of CPUs for agentic AI, given the rapid shift from chatbot to AI agents.
Bernstein also noted that Arm Holdings PLC (NASDAQ:ARM) is expected to capture a fourfold increase in CPU market share over the next four years to hit $137 billion.
“Arm stands out in server CPUs given its unparalleled power efficiency,” it said.
In other news, Arm Holdings PLC reported a 49 percent jump in its net income in the fourth quarter of fiscal year 2026 to $313 million from $210 million in the same period last year. Revenues also increased by 20 percent to $1.49 billion from $1.241 billion.
For the first quarter of fiscal year 2027 ending June, the company has set a revenue outlook of $1.26 billion, plus or minus $50 million. This would imply a 19.6 percent jump from the $1.053 billion reported in the same period a year earlier.
1. Rigetti Computing Inc. (NASDAQ:RGTI)
Rigetti Computing soared by 48 percent week-on-week, after earning a $100-million financial backing from the government to support US leadership in the quantum space and develop computers capable of solving complex problems.
Earlier in the week, the Department of Commerce announced that it would shell out $2.013 billion in federal incentives for nine companies to support the government’s CHIPS and Science Act.
The amount would support the development of seven quantum computing companies, including Rigetti Computing Inc. (NASDAQ:RGTI), D-Wave, Atom, Diraq, Infleqtion, PsiQuantum, and Quantinuum, as well as IBM and GlobalFoundries.
Rigetti Computing Inc. alone will receive up to $100 million to address key technical challenges to develop and scale next-generation superconducting quantum computing technologies and architectures, such as miniaturizing and integrating novel readout electronics and next-generation cryostat architectures.
“Quantum computing will have far-reaching impacts on our nation’s national security, economic interests, and overall prosperity,” Rigetti Computing Inc. CEO Subodh Kulkarni said.
“We are honored that the US government is seeking to partner with Rigetti to accelerate the pace of quantum computing commercialization and to bolster U.S. leadership in this revolutionary field. This investment will allow us to tackle key scaling bottlenecks more rapidly and get us closer to utility-scale quantum computing,” he noted.
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