Check out the companies making headlines in the advanced commerce space. Nvidia — Shares of the chip giant rose more than 8% in after-hours trading on record quarterly revenue driven by its booming artificial intelligence business. Nvidia’s overall revenue grew 265% year-over-year, driven by strong sales of server AI chips. Lucid Group – Shares fell nearly 7% in extended trading after the electric vehicle company reported falling revenue as losses widened. Lucid reported revenue of $157 million for its most recent quarter, below LSEG’s (formerly Refinitiv) estimate of $180 million. Etsy — Shares of the online marketplace fell 6% in extended trading after the company reported a drop in profit. Etsy reported earnings per share of 62 cents, compared with LSEG’s estimate of 78 cents. However, Etsy’s earnings beat expectations. Rivian Automotive — Shares of the electric vehicle maker fell 13% after the company reported a huge loss and said it would cut 10% of its workforce. Rivian expects EV production this year to be much lower than Wall Street expected. In the fourth quarter, Rivian lost $1.36 per share, 4 cents below LSEG’s per-share estimate. However, the company’s revenue of $1.32 billion was higher than expected. Synopsys – Shares rose more than 4% after the software company posted a strong earnings report. Synopsys reported earnings of $3.56 per share excluding items, above LSEG’s estimate of $3.43 per share. The company also forecast second-quarter revenue and earnings to be higher than expected.
