Nvidia will invest up to $2.1 billion in data center operator IREN, as part of a broader deal to deploy up to 5 gigawatts of infrastructure to keep up with soaring artificial intelligence demand.
IREN Ltd rose 9% in premarket trading on Friday.
The tie-up, announced on Thursday, underscores the hunger for computing power amid surging adoption of AI, as frontier model developers and Big Tech firms funnel billions to secure capacity.
Cloudflare said on Thursday it would cut about 20% of its workforce as the company restructures operations around the rapid adoption of artificial intelligence tools, and forecast second-quarter revenue slightly below Wall Street expectations.
Cloudflare, Inc. fell 16% in premarket trading on Friday.
The internet infrastructure and cybersecurity company plans to cut more than 1,100 jobs globally. It had 5,156 full-time employees at the end of 2025, and expects charges between $140 million and $150 million associated with the job cuts in the second quarter.
Cryptocurrency exchange Coinbase Global, Inc. on Thursday recorded a second-consecutive quarter of losses, as a crypto-driven market volatility sapped the company's trading volumes during a period of broad digital-asset selloff.
Shares of the company, which posted a surprise quarterly loss, were down about 2% in premarket trading on Friday. They have lost nearly 15% of their value so far in 2026.
MP Materials Corp. announced impressive first-quarter results, achieving a Non-GAAP EPS of $0.03, surpassing expectations by $0.07. The company reported revenue of $90.65 million, reflecting a 49.1% year-over-year increase and exceeding forecasts by $15.19 million. Notably, MP Materials recorded NdPr production of 917 metric tons, a 63% rise from the previous year, alongside NdPr sales of 1,006 metric tons, marking a remarkable 117% increase. Additionally, Q1 REO production reached 12,983 metric tons, up 6% year-over-year.
MP Materials Corp. rose 5% in premarket trading on Friday.
Rocket Lab USA, Inc. reported its first-quarter 2026 earnings after the bell Thursday, and the numbers were solid. Revenue came in at $200.35 million, beating the consensus estimate of $189.68 million and jumping 63.5% from a year ago. The company posted a loss of seven cents per share, right in line with what analysts expected.
Rocket Lab USA, Inc. rose 8% in premarket trading on Friday.
But the headline numbers only tell part of the story. Rocket Lab signed 31 new contracts for its Electron and HASTE launch vehicles in the quarter, plus five more for the highly anticipated Neutron rocket. One of those deals was a bulk order of dedicated Neutron and Electron launches with a confidential customer — the company says it's the largest launch contract it has ever signed.