Closing Bell: Markets Advance on Tech Strength as AMD, Palantir Results Underscore AI Momentum

Key Points

• S&P 500 +0.81%, Nasdaq‑100 +1.31%, Russell 2000 +1.75%; Materials, Tech, and Industrials lead while Financials and Utilities lag but finish higher.
• AMD delivered a strong Q1, topping expectations on both revenue and earnings as AI infrastructure demand continued to drive growth.
• Palantir delivered a standout Q1, beating expectations on both earnings and revenue.

U.S. equities finished higher, with the S&P 500 rising 0.81%, the Nasdaq‑100 gaining 1.31%, and the Russell 2000 advancing 1.75%. Materials, Information Technology, and Industrials led the upside, while Financials and Utilities lagged but still closed modestly in positive territory.

AMD Tops Q1 Estimates on AI Boom; Data Center Growth Lifts Guidance

AMD delivered a strong Q1, topping expectations on both revenue and earnings as AI infrastructure demand continued to drive growth. Revenue rose 38% year over year to $10.25B, beating estimates, while adjusted EPS came in at $1.37, also ahead of consensus. The Data Center segment remained the primary engine, with revenue surging 57% on robust demand for EPYC processors and accelerating Instinct GPU shipments tied to AI workloads. Strength extended across other segments, with client revenue up 26% on Ryzen demand and gaming rising 11% on solid Radeon sales. Looking ahead, AMD guided Q2 revenue to around $11.2B and expects gross margins to expand to roughly 56%, with management signaling further acceleration in server growth as supply ramps to meet sustained AI-driven demand.

Palantir Beats in Q1 on Strong U.S. Momentum; Stock Falls 6.9%

Palantir (PLTR) delivered a standout Q1, beating expectations on both earnings and revenue, though shares slipped 6.9%. Adjusted EPS came in at $0.33 versus $0.28 expected, while revenue rose to $1.63B, driven by an accelerating 85% YoY growth rate. The U.S. segment remained the clear engine, with total U.S. revenue surging 104%—led by 133% growth in commercial and 84% growth in government.

Economic Events for Tomorrow

• ADP Non-Farm Employment Change
• FOMC Member Musalem Speaks
• Crude Oil Inventories
• FOMC Member Goolsbee Speaks

Earnings Calendar

Before Market Open: NVO, DIS, UBER, CVS, MAR, JCI, QSR, KHC, CART

After Market Close: ARM, APP, DASH, WBD, FTNT, TKO, ALB, CF, FLUT, SNAP, BROS

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