AI remained a central force powering tech stocks during the final week of August, drawing intense retail investor attention across several high-profile names.
Nvidia (NVDA) reported fiscal second-quarter revenue of $96.2 billion on Aug. 26, representing a 106% increase from a year earlier and surpassing Wall Street’s $92.2 billion expectation.
The chipmaker guided for approximately $108 billion in third-quarter revenue, signaling continued confidence in the durability of the AI infrastructure spending cycle.
Data center sales surged 117% to $89 billion, driven by sustained investment from cloud giants including Microsoft, Alphabet, Meta Platforms, and Amazon.
CEO Jensen Huang described the current environment as a “golden age” for computing, pointing to expanding demand for AI inference beyond traditional model training.
Truist raised its Nvidia price target to $346 from $307 and maintained a Buy rating, projecting that Nvidia’s sales could grow 100% next year, though supply constraints may limit gains to 70%, still far exceeding the 47% Wall Street anticipates.
Nvidia shares gained over 4% across the week, with retail sentiment on the stock sitting firmly in what trackers described as “extremely bullish” territory.
CrowdStrike (CRWD) delivered its best weekly performance since May, climbing nearly 14% after posting $1.47 billion in second-quarter revenue, a 26% year-on-year increase, while also raising its full-year outlook.
New annual recurring revenue reached $332.8 million, supported by growing adoption of its Falcon Flex licensing model, with more than half of its customers now using at least six Falcon modules.
Argus raised CrowdStrike’s price target to $425 from $230 and kept a Buy rating, arguing that the rise of agentic AI is generating greater demand for cybersecurity solutions and strengthening the company’s competitive position.
Marvell Technology (MRVL) posted a 36.5% increase in second-quarter revenue, with data center sales reaching $2.17 billion, representing nearly four-fifths of total revenue, yet the stock still fell more than 5% over the week.
Craig-Hallum raised Marvell’s price target to $300 from $217 with a Buy rating, while TD Cowen lifted its target to $245 from $225 but held a more cautious stance, saying investors wanted a bigger boost to 2028 growth from Marvell’s expanded Google partnership.
Salesforce (CRM) reported a 10.8% increase in second-quarter revenue as net income jumped 87% to $3.53 billion, sending the stock up more than 22% during the week with retail sentiment described as “extremely bullish.”
The company is expanding its Agentforce and Data 360 platforms as it shifts toward usage-based software pricing, positioning itself to capitalize on AI agents becoming more integral to enterprise operations.
AST SpaceMobile (ASTS) confirmed its BlueBird 12 and 13 satellites are fully deployed, each featuring a 2,400-square-foot communications array with speeds approaching 200 Mbps, while aiming for 45 satellites in orbit by early 2027.
Despite the operational progress, ASTS stock plunged over 15% during the week as investor concerns mounted, with retail sentiment remaining firmly in “bearish” territory.
Year-to-date, NVDA, CRWD, and MRVL have gained between 16% and 154%, while CRM and ASTS have declined 3% and 20%, respectively, reflecting the uneven rewards of the ongoing AI investment cycle.
