Ten companies boasted a strong performance on Wednesday, outpacing Wall Street’s main indices, thanks to a flurry of company-specific catalysts that sparked buying appetite.
The tech-heavy Nasdaq and the S&P 500 both finished in the green, but only by 0.32 percent and 0.01 percent, respectively. In contrast, the Dow Jones lagged by 0.22 percent.
Today’s best performers were dominated anew by stocks riding the Artificial Intelligence boom. In this article, we highlight the names of the 10 companies and detail the reasons behind their gains.
To come up with the list, we focused exclusively on stocks with a $2 billion market capitalization and 5 million in trading volume.
10. Core Scientific Inc. (NASDAQ:CORZ)
Core Scientific extended its winning streak to a third consecutive day on Wednesday, jumping 6.44 percent to end at $12.56 apiece as investors continued to load up portfolios while digesting the potential impact of a new lawsuit against the company.
According to a report by Cointelegraph, Malikie Innovations—a company that hoarded thousands of patents from Blackberry in 2023—sued Bitcoin miners Core Scientific Inc. (NASDAQ:CORZ) and MARA Holdings Inc. for using their Elliptic Curve Cryptography (ECC), which it claims to own.
According to Malikie, the two firms are using ECC-based cryptographic methods covered under the Malikie-held patents to support their Bitcoin mining operations.
What particularly buoyed sentiment was a lawyer’s optimistic comment that the lawsuit is unlikely to hit individual Bitcoin traders even if the patents are found to be valid.
Core Scientific Inc. (NASDAQ:CORZ) and MARA Holdings Inc. have yet to address allegations.
9. Reddit, Inc. (NYSE:RDDT)
Reddit grew its share prices by 6.68 percent on Wednesday to end at $118.21 apiece following news that it sued an Artificial Intelligence company for scraping its data without its permission.
In a copy of the lawsuit posted on its website, Reddit, Inc. (NYSE:RDDT) claimed that AI firm Anthropic was training its Claude chatbot on its data since December 2021.
According to Reddit, Inc. (NYSE:RDDT), filing a lawsuit was its final option to force Anthropic to stop its alleged unlawful practices.
“We will not tolerate profit-seeking entities like Anthropic commercially exploiting Reddit content for billions of dollars without any return for redditors or respect for their privacy,” the company said in a statement.
“A.I. companies should not be allowed to scrape information and content from people without clear limitations on how they can use that data.”
Anthropic has yet to issue a statement on the allegations.
8. ImmunityBio, Inc. (NASDAQ:IBRX)
ImmunityBio extended its winning streak to a fifth consecutive day on Wednesday, jumping 8.1 percent to finish at $2.93 apiece as investors cheered the Food and Drug Administration’s (FDA) green light for the company to expand the access of its Anktiva treatment to patients with solid tumors.
According to ImmunityBio, Inc. (NASDAQ:IBRX), it was granted by the FDA to treat lymphopenia in adult patients with refractory or relapsed solid tumors.
“Lymphopenia has long been recognized as a major driver and predictor of early mortality in cancer—yet until now, it has remained unaddressed,” said ImmunityBio, Inc. (NASDAQ:IBRX) founder and Executive Chairman Patrick Soon-Shiong.
“This FDA authorization allows all patients with solid tumors suffering from immune collapse following first-line therapy of chemo, radiation, or immunotherapy to access ANKTIVA. The survival benefit we observed at ASCO 2025 in 3rd to 6th line advanced metastatic pancreatic cancer confirms that restoring lymphocyte levels, rather than depleting them, can change the course of disease.”
Following the announcement, the company earned a “buy” recommendation and a price target of $8 from investment firm HC Wainwright.
7. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave rallied for a fourth consecutive day on Wednesday, jumping 8.39 percent to close at $163.10 apiece following the unveiling of record-breaking performance results using Nvidia Corp.’s latest Grace Blackwell chips.
In a statement, CoreWeave, Inc. (NASDAQ:CRWV) said that it used 2,496 Nvidia GPUs on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf.
CoreWeave, Inc. (NASDAQ:CRWV) said that the test was 34x larger than the only other submission from a cloud provider.
“AI labs and enterprises choose CoreWeave because we deliver a purpose-built cloud platform with the scale, performance, and reliability that their workloads demand,” said CoreWeave, Inc. (NASDAQ:CRWV) Chief Technology Officer Peter Salanki.
“These MLPerf results reinforce our leadership in supporting today’s most demanding AI workloads,” he added.
The unveiling followed the company’s new $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), which covered two 15-year lease agreements, under which the latter will deliver 250 megawatts of critical IT load to host its artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.
6. STMicroelectronics N.V. (NYSE:STM)
STMicroelectronics jumped by 10.67 percent on Wednesday to end at $28.41 apiece following optimism that it would hit its revenue guidance for the second quarter of the year amid the increasing demand for its semiconductors.
For the current quarter, STMicroelectronics N.V. (NYSE:STM) is forecasting to book $2.71 billion in revenues, or 7.7 percent higher than the first quarter of the year.
Additionally, STMicroelectronics N.V. (NYSE:STM) is continuing its workforce reduction initiative, with a total of 5,000 employees expected to be laid off over the next three years. Of the total, 2,800 have already been let go earlier this year.
In the first quarter of the year, STMicroelectronics N.V. (NYSE:STM) reported an 89.1 percent drop in net income to $56 million from $513 million in the same period last year.
Revenues also dropped by 27.3 percent to $2.5 billion from $3.46 billion year-on-year.
5. MP Materials Corp. (NYSE:MP)
MP Materials rallied for a second straight day on Wednesday, jumping 11.73 percent as investors gobbled up shares in the company on optimism that it would benefit from China’s rare earth export restrictions.
It can be learned that Beijing suspended exports across a wide range of critical minerals last month, disrupting production of industries such as automakers, semiconductors, and aerospace manufacturers around the world that are heavily reliant on such materials.
However, MP Materials Corp. (NYSE:MP)—the only rare earth minerals producer based in the US—stands to benefit from China’s restrictions on expectations that companies would set their sights on non-Chinese producers to supply needed elements.
MP Materials Corp. (NYSE:MP) used to heavily rely on its partners in China for refining rare earth elements, until withdrawing shipments following 125-percent retaliatory tariffs slapped on US goods.
Additionally, MP Materials Corp. (NYSE:MP) said that its withdrawal was also aligned with the Trump administration’s goal to bring back and boost manufacturing in the US.
4. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)
Recursion Pharmaceuticals increased by 11.85 percent on Wednesday to end at $4.91 apiece as investors continued to gobble up shares after earning optimistic comments from an analyst.
In its latest episode of Mad Money, host and former hedge fund manager Jim Cramer gave a “buy” recommendation on the stock.
“They do have an investment, and it’s a serious investment by Nvidia in them. I think, therefore, it’s a terrific [specification], and I would buy it,” Cramer said.
Additionally, Cramer posted confidence about the company following the Food and Drug Administration’s (FDA) earlier announcement to phase out animal testing requirements and shift to artificial intelligence.
“The AI company that has it … is Recursion Pharmaceuticals—RXRX—backed by Jensen Huang and Nvidia. And they’re going to be the winner in how we decide much faster to have drugs approved in this country,” he underscored.
3. Peloton Interactive, Inc. (NASDAQ:PTON)
Peloton Interactive saw its share price increase by 12.16 percent on Wednesday to close at $7.47 apiece as investors resorted to bargain-hunting following the company’s announcement of strategic growth plans.
During a fireside chat at the Bank of America’s Global Technology Conference on the same day, Peloton Interactive Inc. (NASDAQ:PTON) President and CEO Peter Stern outlined the company’s focus to sustain growth, emphasizing efficiency in marketing, member retention, and innovation.
According to Stern, Peloton Interactive, Inc. (NASDAQ:PTON) is planning to expand its retail presence and partnerships globally and is enhancing marketing efficiency to reduce subscriber acquisition costs.
He also said that the company plans to pay off $200 million in February 2026, and just welcomed the appointment of Charlie Kyrill as its new chief operating officer and Dion Camp Sanders as its chief commercial officer. They will be tasked to enhance supply chain and manufacturing, as well as drive growth in international, retail, and commercial segments, respectively.
2. AST SpaceMobile, Inc. (NASDAQ:ASTS)
AST SpaceMobile grew its share prices for a third straight day, jumping 13.94 percent to end at $28.69 apiece on renewed speculations that the company is joining forces with Jeff Bezos’ Blue Origin.
The rally was bolstered by an Instagram post by a board member, Adriana Cisneros, showing herself, AST SpaceMobile, Inc. (NASDAQ:ASTS) CEO Abel Avellan, and Bezos, in a photo.
“Amazing things are happening at AST & Science + Blue Origin,” Cisneros captioned.
Prior to the Instagram post, Blue Origin executives visited the AST SpaceMobile, Inc. (NASDAQ:ASTS) headquarters in Texas, with speculations that discussions may have gone beyond launch logistics to cover broader strategic and financial matters.
AST SpaceMobile, Inc. (NASDAQ:ASTS) already holds a major commercial agreement with Blue Origin for the launch of up to 45 BlueBird Block 2 satellites, with the option to add 15 more.
1. Applied Digital Corporation (NASDAQ:APLD)
Applied Digital extended its winning streak to a third consecutive day on Wednesday, jumping 29.27 percent to end at $13.25 apiece after an investment firm markedly raised its price target for the company.
B. Riley gave Applied Digital Corporation (NASDAQ:APLD) a “buy” recommendation and a new price target of $15, nearly double the $8 price target previously.
The bullish outlook followed Applied Digital Corporation’s (NASDAQ:APLD) $7-billion lease agreement with CoreWeave, Inc. (NASDAQ:CRWV).
Under the agreement covering two 15-year leases, Applied Digital Corporation (NASDAQ:APLD) will deliver 250 megawatts of critical IT load to host CoreWeave, Inc.’s (NASDAQ:CRWV) artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.
It expects to deliver the first 100 MW of data center in the fourth quarter of the year, while the remaining 150 MW is expected to come online in the middle of 2026.
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