Palantir soars 29%, ARM jumps 17% on earnings beats as AI stocks sweep to record highs

Palantir Technologies surged nearly 30 percent Tuesday after a blowout second-quarter earnings beat, while Arm Holdings added 17 percent on its own quarterly outperformance, lifting the SOXX semiconductor ETF 6.8 percent and pushing the S&P 500 to its first record close in two months. The Nasdaq Composite gained 2.59 percent to 26,585, capping one of the broadest AI chip stocks rallies of 2026; only three names in our 35-ticker universe closed lower.

Top AI stocks today: August 4, 2026

Palantir soars 29% on record quarterly earnings

Palantir Technologies Inc. (NYSE: PLTR) reported Q2 2026 EPS of $0.41 versus the $0.33 consensus on revenue of $1.94 billion, beating the $1.80 billion estimate by nearly 8 percent, according to CNBC. U.S. commercial revenue surged 149 percent year over year to $764 million, and the company raised its full-year U.S. commercial revenue guide to "in excess of" $3.42 billion from $3.22 billion. Net income hit $1.07 billion for the quarter. Shares had already gapped 12 percent in after-hours Monday, then extended through Tuesday on volume of 172 million shares, more than five times the 30-day average. Eight consecutive quarterly beats and a widening AI Platform commercial funnel make PLTR one of the strongest best-AI-stocks-to-buy cases in the software layer of this cycle.

ARM Holdings jumps 17% on AI data center royalties and upgraded guidance

Arm Holdings plc (NASDAQ: ARM) beat Q1 fiscal 2027 estimates with EPS of $0.45 (consensus: $0.37) and revenue of $1.29 billion (consensus: $1.27 billion), then guided Q2 FY27 EPS to $0.47 versus the $0.43 forecast and revenue to $1.38 billion versus $1.34 billion, per FX Leaders. AI and data center chip market share gains drove the beat, with the Armv9 architecture transition lifting royalty rates and widening gross margins even as smartphone demand remains soft. At $280.56 and up 144 percent year-to-date, ARM is one of the top AI chip stocks to watch for investors who want CPU and GPU core licensing exposure inside every AI accelerator without owning a fab.

Intel clears $100 as semiconductor turnaround narrative firms

Intel Corporation (NASDAQ: INTC) gained 10.8 percent to $100.86, clearing triple digits for the first time in months. TradingKey reported that Intel''s "ability to meet critical milestones in next-generation process nodes has shifted the narrative from a struggle for relevance to a demonstration of manufacturing leadership," a framing that drove institutional re-rating across semi-equipment names as well, with Lam Research Corp. (NASDAQ: LRCX) up 7.9 percent and Applied Materials Inc. (NASDAQ: AMAT) up 5.5 percent on the session. INTC is up 156 percent year-to-date, making it one of the top 2026 AI stocks by return in the large-cap chip group. StartupHub.ai data shows that across the 65 active AI hardware startups we track, 17 have raised fresh capital in 2026 alone, a private-market conviction rate that is now amplifying today''s public-market sweep in AI infrastructure stocks.

Notable but quieter

Super Micro Computer Inc. (NASDAQ: SMCI) gained 10.7 percent to $31.69; the AI server maker closed a Bloomberg-confirmed $7 billion equity deal in June to fund surging GPU-server orders, and Tuesday''s move reflects that infrastructure spending cycle still accelerating. Advanced Micro Devices Inc. (NASDAQ: AMD) rose 7.0 percent to $518.58 ahead of its Q2 2026 earnings report due after the close; Kiplinger noted consensus expected better guidance on MI350 GPU data center demand. Dell Technologies Inc. (NYSE: DELL) added 8.9 percent, extending its 265 percent year-to-date advance on AI server backlog. Broadcom Inc. (NASDAQ: AVGO) gained 6.6 percent on custom ASIC demand from hyperscaler training clusters. Ouster Inc. (NASDAQ: OUST) extended its five-day surge to 52.8 percent on momentum, adding 12.6 percent with no specific catalyst. Micron Technology Inc. (NASDAQ: MU) climbed 7.6 percent to $892.67 as the HBM memory supercycle narrative remained intact.

What are the top AI stocks to buy in August 2026?

Across hardware, hyperscale cloud, and enterprise software, the consensus top AI stocks in August 2026 include Palantir (PLTR), Arm Holdings (ARM), and Intel (INTC) on the data and chip infrastructure side; NVIDIA Corp. (NASDAQ: NVDA) for hyperscale GPU and inference demand; and Oracle Corp. (NYSE: ORCL) for enterprise AI software. Wall Street''s 2026 focus has shifted from training-cluster buildout to inference and AI-agent monetization, reshuffling the best AI stocks to buy list and explaining why the top AI stocks 2026 leaderboard looks different from 2025. Tuesday''s session confirms that earnings execution now separates the leaders from the Magnificent 7 AI stocks that are merely holding ground.

Core watchlist

Chips

NVIDIA (NVDA): +2.56% on 130M shares. Inference demand the carrier; Q3 print is the next hard catalyst.
Broadcom (AVGO): +6.61% on above-average volume. Custom ASIC order momentum the thesis; Q3 print next.
Taiwan Semiconductor Manufacturing Co. (NYSE: TSM): +2.72% on average volume. Holding the 50-day at $417; advanced-node pricing power underpins the chip complex.

Hyperscalers

Microsoft Corp. (NASDAQ: MSFT): +1.06% on light volume. Azure AI attach rates the central narrative; Q1 FY27 print is next catalyst.
Alphabet Inc. (NASDAQ: GOOGL): +1.11% on average volume. Gemini monetization and Google Cloud margin the focus.
Meta Platforms Inc. (NASDAQ: META): -0.39%, weakest of the Magnificent 7 AI stocks today. Llama strategy intact; watching Q3 ad revenue.
Amazon.com Inc. (NASDAQ: AMZN): -2.32%, session''s biggest decliner. AWS AI attach and Q3 CapEx guidance are the near-term catalysts; today''s dip looks technical.

Enterprise SaaS

Oracle Corp. (NYSE: ORCL): +2.74% on heavy volume. OCI AI buildout the thesis; next print Sep 9.
Salesforce Inc. (NYSE: CRM): +2.71% on average volume. Agentforce monetization the bull case; Dreamforce in Sep will move the tape.
ServiceNow Inc. (NYSE: NOW): +3.46% on above-average volume. AI workflow agents rolling out; Q3 print Oct 29 next catalyst.
monday.com Ltd. (NASDAQ: MNDY): +5.49% on light volume. mondayAI suite gaining enterprise traction; Q3 guide the key data point.

Vol / retail

Tesla Inc. (NASDAQ: TSLA): +1.64% on below-average volume. Autonomy and Optimus the speculative narrative; FSD deployment timelines underpin the bull case.
Snowflake Inc. (NYSE: SNOW): +3.0% on average volume. Cortex AI gaining enterprise traction; watching attach-rate data at next print.

What to watch tomorrow

AMD reports Q2 2026 results after Tuesday''s close; data center GPU revenue and MI350 shipment trajectory are the key metrics. Any CapEx commentary on AMD''s call will set the tone for semi-equipment names Wednesday morning. The Ai4 conference in Las Vegas runs through Thursday with OpenAI, Waymo, and Cisco speakers; enterprise AI deployment news there can move SaaS names quickly. The S&P 500 closed at a fresh record (7,736) on easing geopolitical tensions and strong tech earnings. Microsoft and Meta report the week of August 10, the next major catalysts for the Magnificent 7 AI stocks and the broader AI stocks to watch calendar.

Not investment advice.