In this article, we deep dive into the 5 Stocks With Shocking Overnight Gains. For a deeper discussion and an extended list, please see 10 Stocks With Shocking Overnight Gains.

5. Birkenstock Holding plc (NYSE:BIRK)

Birkenstock extended its winning streak to a fourth consecutive day on Thursday, jumping 19.45 percent to close at $39.67 apiece, after executing a $250-million accelerated share buyback agreement with Goldman Sachs.

In a regulatory filing, the shoemaker said that it entered into an agreement with Goldman Sachs for the repurchase of its shares at a price of $33.21 apiece.

Under the agreement, Goldman will make an initial delivery of 6 million shares, representing 80 percent of the total, with the final number of shares yet to be determined. However, based on the set purchase price, Birkenstock Holding plc (NYSE:BIRK) is set to receive over 7.5 million shares from the transaction.

Birkenstock Holding plc (NYSE:BIRK) 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.

4. Applied Digital Corp. (NASDAQ:APLD)

Applied Digital soared to a fresh all-time high on Thursday, as investors gobbled up shares after the company clinched a new data center lease agreement with the potential to bring total leasing revenues across its AI data center portfolio to up to $73 billion.

This followed an expanded partnership with an existing US-based hyperscaler for the lease of its Polaris Forge 3, with the potential to rake in $18.2 billion in revenues if all renewal options are exercised. The base contract alone is expected to generate $7.5 billion in revenues.

Following the news, shares of Applied Digital Corp. (NASDAQ:APLD) climbed to its highest price of $48.57 at intra-day trading before trimming a few cents to end the session up by 21.51 percent at $48.02 apiece.

According to Applied Digital Corp. (NASDAQ:APLD), the customer was the same tenant associated with the Delta Forge 1 lease.

The Polaris Forge 3 alone is designed to deliver 300 MW of critical IT load, supported by approximately 430 MW of grid-connected utility power.

“Polaris Forge 3 is a direct extension of what we’ve proven works: a disciplined, repeatable AI Factory model that delivers large-scale capacity to the world’s most demanding compute customers,” Applied Digital Corp. (NASDAQ:APLD) Chairman and CEO Wes Cummins said.

“This … reflects the confidence we’ve built through disciplined execution and our ability to consistently advance large-scale AI infrastructure projects. We’ve earned a seat at the table with blue-chip customers, and we intend to keep that position through flawless execution and long-term operational reliability,” he noted.

3. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing climbed by 30.57 percent on Thursday to close at $22.04 apiece, as investors snapped up shares after the company earned the backing of the US government in support of developing quantum computers to solve some of the world’s most pressing problems.

On the same day, 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 said funds would support the development of seven quantum computing companies and two domestic global foundries to accelerate the creation of quantum computers to help solve complex problems.

The companies include Rigetti Computing Inc. (NASDAQ:RGTI), D-Wave, Atom, Diraq, Infleqtion, PsiQuantum, and Quantinuum, while the two foundry companies are IBM and GlobalFoundries.

Rigetti Computing Inc. (NASDAQ:RGTI) 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.

Meanwhile, IBM took the largest chunk at $1 billion, followed by GlobalFoundries at $375 million.

“Quantum computing will have far-reaching impacts on our nation’s national security, economic interests, and overall prosperity,” Rigetti Computing Inc. (NASDAQ:RGTI) 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.

2. Infleqtion Inc. (NYSE:INFQ)

Infleqtion climbed by 31.48 percent on Thursday to close at $14.70 apiece, as investors gobbled up shares after being named as one of the beneficiaries in the US government’s $2 billion quantum computing and chips support program.

The Department of Commerce announced on the same day that it would shell out $2 billion for nine companies in support of the government’s aim to develop quantum computers to solve some of the world’s pressing problems.

Infleqtion Inc. (NYSE:INFQ) alone will receive $100 million in planned funding 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.

Apart from Infleqtion Inc. (NYSE:INFQ), other companies also include Rigetti, D-Wave, Atom, Diraq, PsiQuantum, and Quantinuum. Meanwhile, GlobalFoundries and IBM also received financial backing, with the latter taking up the largest slice at $1 billion, followed by the former at $375 million.

“Quantum computing is emerging as a foundational technology for economic competitiveness, technological leadership, and national security,” Infleqtion Inc. (NYSE:INFQ) CEO Matt Kinsella said.

“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,” he noted.

1. D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave soared by 33.37 percent on Thursday to close at $25.74 apiece, as investor sentiment was bolstered by the US government’s $2 billion in support to quantum and chipmakers, with the company named as one of the few beneficiaries.

The Department of Commerce announced on the same day that it will shell out $2 billion in financial backing to nine companies, including seven quantum computing firms and two in the chip sector.

D-Wave Quantum Inc. (NYSE:QBTS) was among the selected firms, receiving $100 million in planned funding to support critical advancements in annealing and gate-model superconducting quantum computing systems, including qubit counts, error rates, and coherence through advanced dielectric material optimization, interface control, and high-density advanced packaging.

Other companies include Rigetti, Atom, Diraq, Infleqtion, PsiQuantum, and Quantinuum. In the chip sector, IBM and GlobalFoundries won a $1 billion and $375 million in funding awards.

The program is aimed at supporting companies critical to the development of quantum computers in a bid to solve the world’s most challenging problems.

“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. (NYSE:QBTS) 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 noted.

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