Biggest stock movers Wednesday: AMD, SMCI, ANET, crypto-related stocks, and more

[Momentum in Motion - Rising Line Graph Across a Digital Grid]

Stock futures were mixed in the early hours of Wednesday as concerns over stretched valuations in tech stocks, especially within the AI sector, combined with ongoing uncertainty around interest rates and global economic growth, weighed on investor sentiment.

Here are some of Wednesday's biggest stock movers:

BIGGEST STOCK GAINERS

* DIGITAL TURBINE (APPS [https://seekingalpha.com/symbol/APPS]) +25% - Shares jumped after the company beat expectations on both profit and revenue and raised its full-year outlook. The company now sees FY2026 revenue of $540M–$550M and adjusted EBITDA of $100M–$105M, representing midpoint increases of $12.5M in revenue and $9M in EBITDA from prior guidance. “Momentum across our core businesses remains strong,” said CFO Stephen Lasher.
* RIVIAN (RIVN [https://seekingalpha.com/symbol/RIVN]) +3% - Shares rose after reporting a smaller-than-expected loss, with revenue of $1.56B nearly doubling from a year ago and topping estimates by about $50M, driven by a 324% jump in software and services and a 47% rise in automotive revenue. The company reaffirmed its FY25 outlook for 41,500–43,500 vehicle deliveries (vs. 42,544 consensus) and an adjusted EBITDA loss of $2B–$2.25B, with the midpoint slightly better than expectations. Capex remains guided to $1.8B–$1.9B. Rivian also said it remains on track to launch its new mid-size R2 SUV, with deliveries expected in the first half of 2026.

BIGGEST STOCK LOSERS

* PINTEREST (PINS [https://seekingalpha.com/symbol/PINS]) -20% - Shares plunged as disappointing Q3 results coupled with below-consensus guidance for Q4 overshadowed a 17% revenue increase and growth in active users. For Q4, the company expects revenue of $1.31B–$1.34B, with the midpoint of $1.325B coming in just below the $1.34B consensus. The company guided adjusted EBITDA to $533M–$558M vs. expectations of $552.8M.
* ARISTA NETWORKS (ANET [https://seekingalpha.com/symbol/ANET]) -13% - Shares dipped despite reporting Q3 results that beat expectations, with revenue rising 27% Y/Y. For Q4, the company guided revenue to $2.3B–$2.4B (midpoint $2.35B vs. $2.33B consensus) and sees an adjusted gross margin of 62%–63% compared to the 63.2% estimate, alongside an adjusted operating margin of 47%–48%. CEO Jayshree Ullal said Arista remains well-positioned as a strategic networking provider, citing continued momentum across data center, cloud, and AI-driven networking demand.
* SUPER MICRO (SMCI [https://seekingalpha.com/symbol/SMCI]) -9% - Shares tumbled after its FQ1 results came in below expectations, although the company issued a significantly stronger revenue outlook. For FQ2, Supermicro forecasts revenue of $10B–$11B, midpoint $10.5B, surpassing the consensus of $8.05B, and adjusted EPS of $0.46–$0.54, below the consensus of $0.62. Analysts noted that the Q1 miss reflected the timing of cloud customer orders rather than weakening demand, with the company still seen as well-positioned in the AI server supply chain. Management highlighted a rapidly expanding order book, including more than $13B in Blackwell Ultra systems, and said it expects at least $36B in revenue for FY2026.
* ADVANCED MICRO DEVICES (AMD [https://seekingalpha.com/symbol/AMD]) -5% - Shares fell despite the company posting better-than-expected Q3 results and issuing upbeat Q4 guidance. The chipmaker expects Q4 revenue of $9.3B–$9.9B (midpoint $9.6B vs. consensus $9.21B) and sees adjusted gross margin at 54.5%. The forecast excludes potential MI308 AI chip sales to China. CEO Lisa Su highlighted record revenue driven by strength in EPYC, Ryzen, and Instinct AI accelerators, adding that the company is seeing a “clear step up” in growth momentum, particularly in data center AI.
* HIVE DIGITAL TECHNOLOGIES (HIVE [https://seekingalpha.com/symbol/HIVE]) -2% - Crypto-related stocks continued to slide as Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) extended its fall, now down ~20% from its recent record high and entering bear market territory amid broad liquidations and risk-off sentiment. Crypto-linked equities continued to drift lower after yesterday’s declines of 6% to 9%: MicroStrategy (MSTR [https://seekingalpha.com/symbol/MSTR]) -1%, Coinbase (COIN [https://seekingalpha.com/symbol/COIN]) -0.5%, Riot (RIOT [https://seekingalpha.com/symbol/RIOT]) -1%, MARA (MARA [https://seekingalpha.com/symbol/MARA]) -1%, Bitfarms (BITF [https://seekingalpha.com/symbol/BITF]) -2%, and Robinhood (HOOD [https://seekingalpha.com/symbol/HOOD]) -2.1%.

MORE ON RELATED STOCKS:

* Pinterest, Inc. 2025 Q3 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4838072-pinterest-inc-2025-q3-results-earnings-call-presentation]
* Super Micro Computer, Inc. 2026 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4838069-super-micro-computer-inc-2026-q1-results-earnings-call-presentation]
* Rivian: A Brand That Is Staying Top Of Mind Ahead Of R2 Launch [https://seekingalpha.com/article/4838036-rivian-stock-q3-staying-top-of-mind-ahead-of-r2-launch]
* Digital Turbine stock soars 25% on earnings beat and raised guidance amid AI-driven growth [https://seekingalpha.com/news/4515399-digital-turbine-stock-soars-25-on-earnings-beat-and-raised-guidance-amid-ai-driven-growth]
* Super Micro outlines $36B revenue target for 2026 amid AI demand surge and DCBBS expansion [https://seekingalpha.com/news/4515336-super-micro-outlines-36b-revenue-target-for-2026-amid-ai-demand-surge-and-dcbbs-expansion]