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Following its earnings report, Apple's stock experienced a 3.5 standard deviation move and was on track for its best single-day performance in nearly a year.
Apple provided sales growth guidance of 14% to 17% for the June quarter.
Apple stated that customer demand for its products is outpacing its ability to supply them.
Apple's iPhone sales grew by 20% in the most recent quarter.
A new macro analysis suggests there is limited evidence that the financial payoff from large-scale AI infrastructure investments by hyperscalers currently justifies the cost.
For large corporations investing heavily in AI, the return on invested capital (ROIC) metric has recently started to decline after previously rising since the launch of ChatGPT.
OpenAI CFO Sarah Fryer stated that the company is experiencing a "vertical wall of demand" for its products.
Shares of Twilio increased by 17% following its earnings report.
The Wall Street Journal reported that Spirit Airlines is preparing to cease operations after bailout talks with the U.S. government failed.
According to CFO Sarah Fryer, OpenAI is "very compute constrained" and is actively seeking more computational resources to meet demand.
The Pentagon has signed agreements with NVIDIA, Microsoft, Reflection AI, and Amazon Web Services (AWS) to provide advanced AI tools for use on classified military networks.
Twilio reported its fastest revenue growth in over three years, which the company attributes to a surge in AI-driven demand.