NVIDIA, Snowflake, Digital Turbine, GigaCloud, C3.ai: Why These 5 Stocks Are Drawing Investor Attention Today

U.S. markets ended in the red on Wednesday as the debt ceiling stand-off continued without any resolution.

Fitch Ratings has placed the United States ‘AAA’ long-term foreign-currency issuer default rating on Rating Watch Negative. The agency said it reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit despite the fast-approaching X-date. Meanwhile, the following are the five stocks that are drawing investor attention:

1. NVIDIA Corporation NVDA: Shares of NVIDIA rose over 24% in extended trading after the company reported first-quarter results that came in well ahead of Street expectations. First-quarter revenue came in at $7.19 billion, exceeding a Street estimate of $6.52 billion. For the second quarter, Nvidia expects revenue of $11 billion, plus or minus 2%, compared to a consensus of $7.15 billion.

Also Read: How to Buy NVIDIA (NVDA) Stock

2. Snowflake Inc SNOW: Shares of the company fell over 12% in extended trading on Wednesday. The company's first-quarter total revenue stood at $623.6 million, up 48% year-over-year. However, it said second-quarter product revenue is expected to be in the range of $620 million to $625 million, which came in below an estimate of $649 million, according to CNBC. Snowflake also said it is acquiring search company Neeva.

3. Digital Turbine Inc APPS: Shares of the company fell over 30% in extended trading, according to Benzinga Pro. Digital Turbine reported fiscal fourth-quarter revenue of $140.1 million, representing a 24% decline year-over-year.

4. GigaCloud Technology Inc GCT: Shares of the company gained 24.74% on Wednesday. The company reported $127.80 million in quarterly sales, representing a 13.7% year-over-year increase. Adjusted EBITDA stood at $19.8 million, registering an increase of 186.5% from the same period last year.

5. C3.ai Inc AI: Shares of the company closed 2.54% higher on Wednesday and gained over 8% in extended trading as AI-related stocks surged following NVIDIA's upbeat earnings and growth forecast.

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