U.S. stock futures climbed on Thursday after Nvidia reported quarterly sales exceeding $100 billion and Salesforce raised its annual outlook, offsetting broader concerns over Federal Reserve policy and geopolitical risks.
Futures tied to the Dow Jones Industrial Average added 0.2% by 02:49 ET, while S&P 500 futures rose 0.3% and Nasdaq 100 futures gained 0.7%. The gains followed Nvidia's earnings release, which showed sales surging to $108 billion in the current quarter, driven by demand for artificial intelligence chips. The company also guided gross profit margins lower, to 74% in the third quarter and a range of 71% to 72% in the fourth, as investment in AI infrastructure weighs on profitability.
Salesforce shares jumped more than 13% in extended trading after the cloud software provider raised its fiscal 2027 revenue guidance. The company cited AI-driven adoption across its platform as a key driver of growth. Salesforce also announced an expanded partnership with AI startup Anthropic to integrate Anthropic's plug-ins with Salesforce's business tools, with a beta version slated for release in September. Pilot customers have already gained access to the system, dubbed Claudeforce.
Analysts at Bank of America described Nvidia's results as a "compelling vision" of how strategic investments are securing the company's dominance in the AI market. Colette Kress, Nvidia's chief financial officer, emphasized the long-term potential of large frontier AI labs, calling them "the largest technology companies in history." Meanwhile, Deutsche Bank analysts noted that recent economic data suggested U.S. policy may not be as restrictive as previously assumed.
Oil prices fell more than 6% for the week on hopes of a diplomatic breakthrough between Iran and Oman regarding commercial shipping routes through the Strait of Hormuz. Tehran warned, however, that any agreement might not immediately reopen the strait. Washington also imposed stricter economic sanctions on Iran, while Russian state media reported potential progress toward a new U.S.-Iran ceasefire deal.
Marvell Technology shares surged over the past year, with a market capitalization nearing $215 billion. The company projected custom chip revenue exceeding $10 billion by 2029, up from earlier estimates of $10 billion by 2028.
