Zaid Mani

Overall revenue for the first quarter grew 14% thanks to a 20% increase in trips and a 34% rise in delivery, which is Uber's fastest growing business.

Total gross bookings, which includes the core ride share business and Uber Eats, grew 25% to $53.7 billion.

That's the fastest pace since 2022.

On top of that, the company provided better than expected booking guidance for the second quarter.

The one soft spot, though, was the core rideshare business, which was up just 5%.

The rideshare remains Uber's largest business, but it hasn't outpaced the delivery business since Q4 of 2024.

But investors seem to be looking past that and focusing on the upbeat outlook.

Uber stock is up around 6% this morning at the time of this recording.

Sticking with the winners here, let's talk about Corning.

Most people know Corning as the company that makes the glass on your iPhone.

Well, they just got a $500 million investment from Nvidia with the option for Nvidia to invest up to $2.7 billion.

As part of this initial investment, Corning will build three new manufacturing facilities in North Carolina and Texas to expand fiber optic cable production for AI data centers by 10X.

So these fiber optic cables that Corning makes are the backbone of AI data centers now because they transfer data between chips at massive speeds.

So that's been a big boost for Corning's business.

Remember, Corning also signed a $6 billion deal with Meta earlier this year to supply them with fiber optic cables for their data centers.

Shares of Corning are up around 18% this morning on this news and now up more than 260% over the past year.

Now on the flip side, Lucid shares are falling after the EV maker badly missed revenue estimates, bringing in just $283 million in Q1 versus the $440 million that Wall Street was expecting.

Lucid released a new EV-style minivan called the Gravity last year, but vehicle deliveries came in flat year over year.

Lucid said there was an issue with the Gravity's seat supplier in the quarter, leading to lower deliveries.

The company's now suspended the production of the car.