NEW YORK — Dell Technologies Inc. shares skyrocketed more than 30% in early trading Friday after the company reported blockbuster first-quarter results driven by surging demand for AI servers, a massive backlog and a sharply raised full-year outlook that exceeded Wall Street expectations.

Dell shares opened at $414.63, up $96.39 or 30.29% from Thursday’s close, as investors cheered the company’s accelerating position in the artificial intelligence infrastructure boom. The rally pushed the stock to new all-time highs and added tens of billions to its market capitalization in a single session.

Dell reported fiscal first-quarter 2027 revenue of $43.8 billion, an 88% increase from the prior year and far above consensus estimates around $35 billion. Adjusted earnings per share reached $4.86, crushing forecasts near $2.96. AI server sales alone hit $16.1 billion in the quarter, representing a 757% year-over-year surge.

The company exited the quarter with a record AI order backlog of $51.3 billion and raised its full-year fiscal 2027 guidance significantly. Dell now sees revenue between $165 billion and $169 billion and adjusted EPS around $17.90 at the midpoint, reflecting strong momentum in its AI business.

CFO David Kennedy highlighted the broad-based nature of the growth. The performance underscores Dell’s successful pivot toward high-margin AI infrastructure, building on partnerships with Nvidia and others while expanding its enterprise AI offerings.

The earnings beat comes on the heels of several positive developments. Earlier this week, the U.S. Department of Defense awarded Dell a five-year, $9.69 billion contract to consolidate Microsoft software licensing, cloud subscriptions and on-premises services across military branches, intelligence agencies and the Coast Guard. The deal is expected to generate substantial annual savings for the Pentagon.

Additionally, data center operator IREN agreed to purchase $1.6 billion worth of Nvidia-powered Blackwell systems from Dell, further validating demand for its AI hardware solutions.

Analysts have responded enthusiastically. Several firms raised price targets ahead of the report, with some now exceeding $350 per share. The combination of the Pentagon win, major customer orders and robust earnings has created strong momentum for the stock.

Dell’s performance reflects the broader AI infrastructure boom reshaping the technology sector. As enterprises and governments race to build out computing capacity for artificial intelligence workloads, companies like Dell that provide servers, storage and integrated solutions are seeing explosive order growth.

Michael Dell and the company’s leadership have positioned Dell Technologies as a key player in what they describe as a multi-year secular shift. The firm’s AI Factory platform and agentic AI capabilities are gaining traction, with thousands of customers already deploying the technology.

This marks another strong quarter in a multi-year run for Dell. The company has consistently beaten expectations as AI spending accelerates beyond initial hyperscaler deployments into broader enterprise adoption. Fiscal 2026 saw AI orders top $64 billion with shipments exceeding $25 billion, setting the stage for continued expansion.

Investors appear confident that Dell can sustain this trajectory. The raised guidance implies roughly 100% growth in AI-related revenue for the full year, signaling management’s conviction in the demand pipeline.

The stock’s reaction underscores how sensitive technology investors have become to AI-exposed names. Similar moves have been seen in other hardware and infrastructure providers when they deliver outsized results tied to artificial intelligence.

However, some analysts caution that valuation multiples have expanded rapidly. Even after today’s surge, questions remain about sustainability if AI spending were to moderate or face delays. Supply chain constraints for advanced chips and competition from other server makers could also present challenges.

Dell has worked to differentiate itself through integrated offerings that combine hardware, software and services. Its relationships with major cloud providers and technology partners have helped broaden its addressable market.

From a balance sheet perspective, the company continues to generate strong cash flow. It returned $2.4 billion to shareholders in the first quarter through dividends and share repurchases, demonstrating confidence in its growth prospects.

The rally in Dell shares also lifted related names. Peers in the server and data center space saw gains in sympathy, while Nvidia and other semiconductor stocks traded mixed amid the broader market’s focus on individual company results.

Wall Street’s response has been largely positive. The earnings report validates the thesis that enterprise AI spending is accelerating and that Dell is well-positioned to capture a significant share.

Looking ahead, management will provide more color on the conference call scheduled for later Friday. Investors will listen closely for commentary on backlog conversion rates, gross margins and any updates on competitive dynamics.

Dell’s transformation from a traditional PC and hardware company to an AI infrastructure leader has been years in the making. The current cycle appears to be hitting an inflection point, with multiple quarters of accelerating growth now on record.

For long-term investors, today’s move reinforces Dell’s role in the AI buildout. The company’s diversified portfolio — spanning client solutions, infrastructure and services — provides some buffer against sector-specific volatility.

Short-term traders, however, may watch for profit-taking after such a sharp move. Volatility around earnings has been a recurring theme, though the magnitude of today’s beat suggests sustained buying interest.

Broader market context remains supportive. Technology stocks have led major indexes higher in 2026, fueled by enthusiasm for artificial intelligence applications across industries.

Dell’s success also highlights the importance of execution in a competitive landscape. While rivals like Hewlett Packard Enterprise and Super Micro Computer compete in similar spaces, Dell’s scale, brand and ecosystem have enabled it to secure large wins.

The Pentagon contract, in particular, cements Dell’s position as a trusted partner for government technology needs. Such deals often provide stable, long-term revenue streams that complement more cyclical commercial demand.

As the trading session progresses, attention will shift to whether the stock can hold these elevated levels. Early volume has been heavy, indicating broad participation in the rally.

Dell Technologies, once known primarily for personal computers, has successfully reinvented itself amid the digital transformation wave. Its current focus on AI positions it at the center of one of the most significant technology shifts in decades.

Friday’s market reaction represents a strong vote of confidence from investors. With raised guidance and a record backlog, Dell enters the second quarter with significant momentum.

The coming months will test whether the company can convert its pipeline into sustained revenue growth and margin expansion. For now, the narrative around Dell remains firmly bullish among growth-oriented investors.

A lounge chair sold on Amazon.com is being recalled after a customer lost a finger while adjusting it, officials said.

The chair, made by the company Giantex, poses an “amputation risk” when consumers place their fingers in a pinch point when adjusting the chair, the U.S. Consumer Product Safety Commission (CPSC) said in a notice.

WHOLE FOODS MINESTRONE SOUP RECALLED IN 17 STATES OVER POSSIBLE LIFE-THREATENING ALLERGIC REACTION

The Recalled Giantex Lounge chair is being recalled after reports of a customer who had a finger amputated while adjusting it.  (Fox News)

Around 1,155 units are subject to the recall, the commission said.

“The recalled lounge chairs are blue and measure 76 inches long, 23 inches wide, and 13 inches high. They have a five-position adjustable locking system, and the backrest height can be adjusted from 13.5 inches to 26.5 inches,” the CPSC said.

COSTCO PATIO SWINGS RECALLED AFTER SEAT DETACHMENTS LEAD TO INJURIES

The Amazon logo is displayed on the façade of Amazon Germany’s headquarters in Parkstadt Schwabing, Munich, Bavaria, on Jan. 27, 2026. (Matthias Balk/picture alliance via Getty Images / Getty Images)

The chair, which was manufactured in China, has the model number NP10025NY printed on the front and side of the product packaging.

It was sold on Amazon.com and Giantex.com between August 2023 and October 2025 for between $75 and $90.

This picture taken on July 4, 2022, shows the logo of Amazon, a major online shopping company. ((Photo by KAZUHIRO NOGI/AFP via Getty Images) / Getty Images)

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“Consumers should stop using the recalled lounge chairs immediately and contact Giantex for a full refund,” the recall states. “Consumers will be instructed to either request a prepaid return package or will be asked to destroy the recalled lounge chair by detaching the headrest pillow, cutting the fabric, and providing photographic proof of destruction.”

Anyone who purchased the chair is asked to contact Giantex for a full refund.

NEW YORK — Nextpower Inc. shares surged more than 18% in early trading Friday, reaching $162.38 after the solar technology company announced a strategic acquisition into battery energy storage and AI data center markets along with an increased fiscal 2027 financial outlook.

The rally reflects strong investor enthusiasm for Nextpower’s expansion beyond its core solar tracking business into higher-growth segments of the clean energy and technology infrastructure sectors. The Fremont, California-based company, formerly known as Nextracker, has rebranded and repositioned itself as a broader intelligent power generation platform provider.

Nextpower said late Thursday it entered into a definitive agreement to acquire Prevalon Energy, a move that accelerates its entry into the battery energy storage system (BESS) market and positions it to serve rapidly growing AI data center power demands. The deal, valued at up to $365 million, is expected to close in the coming months subject to customary conditions.

The acquisition comes on the heels of strong fiscal fourth-quarter and full-year 2026 results reported earlier in May. Nextpower posted revenue of $880.5 million for the quarter, beating estimates, with adjusted earnings per share of $1.05. The company also raised its full-year fiscal 2027 revenue and profitability guidance, citing robust demand for its integrated solar solutions.

Nextpower’s rebranding in late 2025 signaled its evolution from a solar tracker specialist to a full-platform energy technology provider. The company now offers trackers, electrical balance of system (eBOS) components, software and robotics designed to optimize energy yield and operational efficiency for utility-scale solar plants.

Analysts view the Prevalon acquisition as a logical step in diversifying revenue streams. Battery storage is seeing explosive demand as utilities and data center operators seek reliable, dispatchable clean power to complement intermittent solar and wind generation. AI-driven data centers, in particular, require massive amounts of firm power, creating opportunities for integrated solar-plus-storage solutions.

The stock has been on a strong run throughout 2026, building on triple-digit gains in the prior year. Friday’s move pushed year-to-date performance higher and reinforced Nextpower’s status as one of the top-performing names in the renewable energy technology space.

Market reaction was swift and positive. Volume spiked in early trading as both retail and institutional investors piled in. Several analyst firms issued notes supporting the strategic shift, with some raising price targets following the announcement.

Nextpower’s leadership highlighted the acquisition’s potential to create meaningful long-term value. The company expects the deal to be accretive to earnings and expand its addressable market significantly.

The broader energy transition continues to drive growth for companies like Nextpower. Global commitments to decarbonization, combined with U.S. policy support for domestic clean energy manufacturing and deployment, have created tailwinds for solar and storage providers.

Challenges remain, however. The solar sector faces headwinds from supply chain issues, potential tariff changes and project delays in certain regions. Nextpower has mitigated some risks through vertical integration and a focus on high-margin, technology-differentiated products.

Investors appear to be betting that Nextpower’s pivot toward storage and AI-related power solutions will help insulate it from pure solar cyclicality. Data centers alone are projected to drive substantial electricity demand growth over the next decade, with many operators turning to renewable-plus-storage hybrids for 24/7 carbon-free power.

Nextpower’s existing technology stack, including advanced tracking systems and intelligent software, complements battery storage by optimizing overall system performance. The Prevalon platform is expected to integrate seamlessly, allowing the company to offer end-to-end solutions.

Financially, Nextpower maintains a solid balance sheet with strong cash generation. The company has returned capital to shareholders through buybacks while investing in growth initiatives.

Wall Street consensus remains largely bullish. Most analysts rate the stock as a buy or overweight, citing its technology leadership and exposure to multiple high-growth secular trends.

Friday’s surge marks another chapter in Nextpower’s remarkable run since going public. The company has benefited from the global solar boom while successfully executing on product innovation and market expansion.

Looking ahead, management will provide further details on the acquisition and updated guidance during upcoming investor communications. Key metrics to watch include integration progress, margin accretion timelines and new order momentum in the storage segment.

The renewable energy sector has seen heightened volatility in recent years due to interest rate fluctuations and policy uncertainty. However, long-term fundamentals remain intact, supported by falling technology costs and increasing corporate demand for clean energy.

Nextpower’s move into battery storage aligns with industry trends. Major players are increasingly bundling solar, storage and digital optimization to deliver reliable power at scale. This “solar-plus-storage” approach is particularly attractive for data center developers facing grid constraints and sustainability targets.

Competitors in the space include established storage specialists as well as other solar technology firms expanding their portfolios. Nextpower’s scale, public company status and technology heritage provide competitive advantages in securing large contracts.

From a valuation perspective, the stock trades at a premium reflecting its growth profile. Investors are paying for expected future earnings expansion rather than current results. Strong execution on the acquisition and guidance could justify current multiples.

Broader market sentiment toward clean technology stocks has improved amid falling interest rates and renewed focus on domestic energy security. Nextpower’s performance stands out even within a strong sector.

Retail investor interest has been notable on social platforms, with many highlighting the AI data center angle as particularly compelling. The intersection of artificial intelligence power needs and clean energy solutions is one of the most discussed investment themes of 2026.

Nextpower continues to invest in research and development, with emphasis on AI-driven optimization software and robotics for operations and maintenance. These innovations aim to reduce the levelized cost of energy and improve project returns for customers.

The company’s U.S. manufacturing footprint has also expanded, helping it navigate trade policies and meet domestic content requirements for certain incentives.

As the trading day progresses, attention will turn to whether the stock can sustain these elevated levels or if profit-taking emerges. Early momentum suggests broad conviction in the strategic direction.

For investors considering exposure to the energy transition, Nextpower offers a differentiated play combining solar expertise with emerging storage and digital capabilities. The Prevalon acquisition accelerates this transformation and could serve as a catalyst for further upside.

While risks such as execution challenges and macroeconomic factors exist, Nextpower’s track record of beating expectations and adapting to market shifts has built credibility with the investment community.

The clean energy sector is poised for continued growth as electrification accelerates across transportation, industry and computing. Companies that can deliver integrated, intelligent solutions are best positioned to capture value in this evolving landscape.

Nextpower’s performance Friday underscores the market’s appetite for growth stories tied to both sustainability and technological innovation. With a record backlog in core operations and new avenues opening in storage, the company enters the new fiscal year with significant momentum.

NEW YORK — Okta Inc. shares jumped more than 18% in early trading Friday, climbing to $112.01 after the identity security company posted better-than-expected first-quarter results and highlighted growing demand for solutions to secure artificial intelligence agents.

The rally reflects investor confidence in Okta’s execution amid an evolving cybersecurity landscape where identity management has become a top priority for enterprises adopting AI technologies. The company’s fiscal first-quarter 2027 earnings, released after the market close Thursday, showed continued revenue growth and margin expansion.

Okta reported total revenue of $765 million for the quarter ended April 30, up 11% from a year earlier and ahead of Wall Street expectations around $752 million. Subscription revenue, the company’s primary driver, rose 11% to $750 million. Adjusted earnings per share came in at $0.91, beating consensus estimates of $0.85.

Remaining performance obligations, a key forward-looking metric, reached $4.719 billion, up 16% year-over-year. Current RPO, representing revenue expected over the next 12 months, grew 12% to $2.499 billion.

The results underscore Okta’s position as a leader in workforce identity security. CEO Todd McKinnon has emphasized the company’s role in helping organizations manage and secure AI agents, an emerging area that is drawing significant enterprise interest.

Okta raised its full-year fiscal 2027 outlook, now projecting revenue growth of 9% to 10%. The company also guided for strong non-GAAP operating margins and healthy free cash flow generation, signaling confidence in sustained profitability improvements.

Analysts reacted positively to the report. Several firms noted Okta’s ability to maintain steady growth while expanding into high-potential AI-related security use cases. The identity security market has gained prominence as companies deploy more autonomous AI systems that require robust authentication and access controls.

Okta’s performance comes as the broader cybersecurity sector benefits from rising threats and digital transformation efforts. Identity and access management solutions have become critical infrastructure for preventing breaches, particularly as remote work, cloud adoption and AI proliferation expand the attack surface.

The company has invested in product innovation to address these trends. Newer offerings, including solutions for privileged access management and identity governance, contributed to stronger bookings in the quarter. These products accounted for a growing share of new deals.

Financially, Okta continues to demonstrate improving operational efficiency. GAAP operating income reached $56 million, or 7% of revenue, compared to $39 million a year ago. Non-GAAP operating income was $191 million, or 25% of revenue.

The company generated solid cash flow, supporting ongoing investments in research and development while maintaining a strong balance sheet. Okta has also returned capital through share repurchases in recent periods.

Wall Street has grown increasingly bullish on Okta’s prospects. Price targets have risen following recent earnings beats, with some analysts citing potential upside from the AI security tailwind. The stock’s valuation reflects expectations of accelerating growth as AI adoption matures.

However, challenges persist in the competitive identity market. Okta faces rivals including Microsoft, Ping Identity and CyberArk. Macroeconomic uncertainty and cautious enterprise spending have weighed on growth rates compared to the pandemic-era surge.

Okta has responded by focusing on larger deals with existing customers and expanding its platform capabilities. The company reported strong performance in upsells to its workforce identity solutions.

Investors appear to be rewarding Okta’s consistent delivery. Friday’s surge marks a significant rebound from earlier 2026 levels, highlighting renewed enthusiasm for software stocks tied to AI infrastructure and security.

The identity security space is expected to grow rapidly as organizations prioritize securing both human and machine identities. Analysts project the market for AI agent security tools to expand substantially over the coming years, positioning established players like Okta favorably.

From a technical perspective, the stock broke key resistance levels on the earnings reaction, with heavy volume indicating broad participation. Traders will watch whether the gains hold through the session or if profit-taking emerges after the sharp move.

Longer term, Okta’s strategy centers on becoming the essential identity layer for modern enterprises. Its cloud-native platform integrates with major cloud providers and supports hybrid environments, giving it broad applicability.

The company’s leadership has expressed optimism about the AI opportunity. Early pipeline interest for AI-related identity products has been encouraging, though these offerings are still in relatively early stages of contribution.

Okta’s transformation from a high-growth disruptor to a more mature, profitable software company has been closely watched. The current quarter’s results suggest the transition is progressing well, with stable growth and expanding margins.

Broader market sentiment toward technology and cybersecurity names remains constructive. Artificial intelligence themes continue to drive investment flows, benefiting companies that enable or secure AI deployments.

For investors evaluating Okta, key considerations include execution on guidance, competitive positioning and the pace of AI product adoption. The company’s track record of beating estimates has helped rebuild credibility after periods of slower growth.

Risks include potential slowdowns in enterprise IT spending, integration challenges with acquisitions and evolving regulatory requirements around data privacy and security.

Okta has a history of strategic acquisitions to bolster its platform. These moves have expanded its capabilities in areas such as customer identity and access management.

As enterprises navigate complex digital ecosystems, demand for unified identity solutions is likely to persist. Okta’s independence from major cloud providers gives it appeal as a neutral, best-of-breed option for many organizations.

Friday’s market reaction represents a strong endorsement of management’s strategy. With solid fundamentals and exposure to a secular growth trend in AI security, Okta enters the new quarter with positive momentum.

Analysts will monitor upcoming quarters for evidence of reacceleration. If AI-related products begin contributing more meaningfully to revenue, the stock could see further upside.

In the near term, focus remains on operational execution and customer retention metrics. Okta’s net retention rates have remained healthy, indicating strong value delivery to existing clients.

The identity security sector is poised for consolidation and innovation. Companies that can combine scale with advanced capabilities are best positioned to thrive.

Okta’s performance this earnings season adds to a series of positive reports from cybersecurity firms, reflecting resilience in the sector despite economic headwinds.

As trading continues, the stock’s movement will be watched closely by growth investors seeking exposure to both established software platforms and emerging AI themes.

NEW YORK — GameStop Corp. shares traded slightly lower Friday morning, falling about 1% to $21.47 as the video game retailer continued its aggressive pursuit of eBay Inc. by raising its ownership stake in the online marketplace to 7.78%.

The modest decline came amid light pre-holiday trading volume and broader market caution. GameStop’s ongoing activism around a potential acquisition of eBay has kept the stock in focus, even as the company faces skepticism from investors and analysts regarding financing and strategic fit.

GameStop has steadily increased its position in eBay following the rejection of its non-binding $56 billion takeover proposal earlier in May. The latest filing shows the stake rising from previous levels around 6.6%, signaling CEO Ryan Cohen’s determination to pressure eBay’s board and explore further steps.

The move comes as GameStop seeks to transform beyond its traditional brick-and-mortar retail roots. Once a meme stock phenomenon, the company has built a substantial cash position and pursued strategic shifts under Cohen’s leadership, including cost-cutting measures and exploration of new revenue streams.

Recent financial results provide context for the activist approach. For the fiscal year ended January 31, 2026, GameStop reported net sales of $3.63 billion, down from the prior year, but posted improved profitability with net income rising to $418 million. Fourth-quarter adjusted earnings per share beat estimates at $0.49, though revenue fell short of expectations.

The company has also requested shareholder approval to increase authorized shares, a move that could provide flexibility for future capital raises or acquisitions. That filing contributed to some recent volatility in the stock.

Analysts remain divided on GameStop’s prospects. Some view the eBay campaign as a high-risk, high-reward gambit that could reshape the company if successful. Others question the viability given eBay’s rejection and potential regulatory hurdles. Morgan Stanley noted after the initial bid rejection that the “takeover fight may just be starting.”

eBay has pushed back firmly, describing the proposal as neither credible nor attractive. The company has defended its independent strategy focused on e-commerce growth and marketplace enhancements.

GameStop’s cash reserves and low debt position give it some maneuvering room, though executing a full takeover would likely require significant additional financing. The company has not detailed specific plans beyond the increased stake and shareholder proposals.

Trading in GME shares has remained volatile but less extreme than the 2021 meme stock surge. The stock has traded in a relatively narrow range in recent months, reflecting reduced short interest compared to previous years while retaining a dedicated retail investor base.

Options activity has shown mixed sentiment recently, with relatively light volume. Some traders bet on continued activism-driven catalysts, while others anticipate consolidation or downside if the eBay effort stalls.

GameStop’s core business continues to face industry headwinds. The shift to digital gaming has pressured physical sales, prompting the company to diversify into collectibles, electronics and potential technology ventures. Its balance sheet strength, bolstered by prior share offerings and cost discipline, provides a buffer.

Cohen has taken an increasingly public role in pushing for change. His commentary on eBay’s management has been pointed, though specific details remain limited in regulatory filings.

The broader retail sector has seen consolidation and digital transformation pressures. GameStop’s attempt to acquire eBay represents one of the more unusual activist campaigns in recent memory, blending legacy retail with e-commerce ambitions.

Investors will watch for any further disclosures or responses from eBay. Next earnings are expected around early June, which could provide additional insight into operational performance and strategic priorities.

From a valuation standpoint, GameStop trades at levels reflecting both its cash holdings and uncertainty around future growth. The stock remains well below its 2021 peaks but has shown resilience amid market fluctuations.

Retail enthusiasm for GME persists on social platforms, where discussions often center on potential short squeezes, activist outcomes and long-term transformation. However, institutional ownership and analyst coverage reflect more measured expectations.

The company has maintained focus on operational improvements, including store optimizations and inventory management. Progress in these areas helped drive better profitability despite lower sales.

Looking ahead, GameStop’s trajectory depends heavily on the success of its capital allocation and any transformative deals. The eBay stake increase keeps the narrative alive but also introduces execution risk.

Market watchers note that meme stock dynamics have evolved since 2021. While retail participation remains influential, broader market factors like interest rates and economic data now play larger roles in daily movements.

GameStop has not provided detailed guidance on the eBay situation beyond regulatory filings. Any material developments would likely trigger further volatility.

For long-term shareholders, the company’s cash position offers downside protection while activism creates upside optionality. Short-term traders continue to monitor technical levels and news flow closely.

The stock’s performance Friday fits a pattern of modest moves amid waiting periods in the eBay saga. Volume has been lighter than average as markets prepare for the Memorial Day weekend.

Broader technology and consumer discretionary sectors showed mixed trading, with some AI-related names gaining while retail names lagged.

GameStop’s history as a cultural phenomenon in retail investing ensures continued attention. Whether the current strategy yields a major outcome remains uncertain, but the company has demonstrated willingness to pursue bold moves.

As the situation develops, investors will balance enthusiasm for potential catalysts against fundamental challenges in the gaming retail space.

Treasury Secretary Scott Bessent said the Iranian economy is nearing a breaking point Friday, while announcing that the U.S. has seized roughly $1 billion in Iranian cryptocurrency assets.

“We have seized about a billion dollars of their crypto,” he told FOX Business. “Just outright grabbed the wallets.”

Joining “Kudlow” at the Reagan National Economic Forum, Bessent detailed the United States’ economic pressure campaign on Iran, known as “Operation Economic Fury,” which he said has sent the regime into “crisis.”

“I think between five and a half-six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off…they are at the end of their tether now financially,” he said.

TRUMP’S IRAN CRACKDOWN ‘SUFFOCATING’ REGIME AS OIL WELLS COULD SHUT WITHIN DAYS, BESSENT SAYS

Bessent said roughly $1 billion in Iranian cryptocurrency assets has been seized by the U.S. Treasury Department. (Getty Images)

“I think 40 or 50% of the [Iranian] troops aren’t getting paid. Police aren’t reporting to the station. Inflation is probably over 200%. They’re having to give out food vouchers. They have turned off the internet.”

The effort, launched in March 2025, has crippled Tehran’s financial lifelines by seizing Iranian assets, freezing bank accounts and pressuring foreign governments to cut ties with the nation.

“We are working with our allies all over Europe to grab villas and houses and properties,” Bessent explained. “And this is money that’s stolen from the Iranian people.”

Bessent said the Iranian regime was siphoning $400 to $500 million every month and dividing the profits amongst dozens of leaders, before the Treasury Department intervened.

TRUMP CLAIMS IRAN ‘STARVING FOR CASH,’ ‘COLLAPSING FINANCIALLY’ AFTER EXTENDING CEASEFIRE

President Donald Trump speaks alongside Treasury Secretary Scott Bessent at the White House Digital Assets Summit at the White House on March 07, 2025, in Washington, D.C.  (Anna Moneymaker/Getty Images / Getty Images)

The Treasury secretary went on to address ongoing negotiations between the U.S. and Iran, highlighting the differences between the factions involved in the talks. President Donald Trump held a White House meeting Friday where he said he would make a “final determination” on Iran.

“We did not have regime change, but we changed the regime,” Bessent said. “The first level leaders were decapitated, the second level decapitated. So, we’re dealing with the third level.”

TRUMP SAYS IRAN’S SUCCESSION BENCH WIPED OUT AS ISRAELI STRIKE HITS LEADERSHIP DELIBERATIONS

“And it’s very tough because, on one side, we have a theocracy with the clerics. On the other side, we have a thug autocracy with the IRGC. And you’ve got to convince both sides,” he added.

Bessent also spoke about the “very big” mistake Iran made by attacking countries in the Persian Gulf, which he argued left the regime more vulnerable.

The IRGC has launched drone and missile attacks against all six GCC states.

IRAN IS ‘TRYING TO GIVE THE GLOBAL ECONOMY A HEART ATTACK’ BY CLOSING STRAIT OF HORMUZ, UAE MINISTER SAYS

“They made my job so much easier because before, many of our great GCC Gulf allies were a little less than transparent about their banking system, that, ‘Oh no, we don’t have any Iranian oil,’” Bessent said.

The Treasury secretary added that after the Iranian strikes, GCC states were more open to disclosing ties to Iranian-supplied oil.

U.S. Treasury Secretary Scott Bessent visits “FOX & Friends” at Fox News Channel Studios on November 12, 2025, in New York City. (John Lamparski/Getty Images / Getty Images)

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Bessent also said that young U.S. service members enjoy enforcing the U.S. naval blockade on Iranian ports in the Strait of Hormuz.

“They’ve done an incredible job,” he told FOX Business. “When I talked to General Caine and Secretary Hegseth, they said, ‘Look, these young people aren’t afraid. They want to fight… This is what they signed up for.’”

NEW YORK — SoFi Technologies Inc. shares rose sharply in early trading Friday, gaining about 7% to $18.16 as investors continued to reward the digital banking platform for its strong first-quarter performance and accelerating growth in lending and membership.

The fintech company has maintained positive momentum following its April 29 earnings report, which showed record results across key metrics despite an initial market disappointment over unchanged full-year guidance. SoFi reported adjusted net revenue of $1.1 billion for the quarter ended March 31, up 41% from a year earlier. Net income more than doubled to $167 million from $71 million in the prior-year period.

Total loan originations reached a record $12.2 billion, with strong contributions from personal loans, student loans and home loans. Membership grew 35% year-over-year to 14.7 million, while products held by members increased 39% to 22.2 million. Adjusted EBITDA rose 62% to $340 million.

The results demonstrated SoFi’s successful diversification beyond its lending roots into a full-service financial platform that includes banking, investing, credit cards and insurance products. Cross-buy rates among members continued to improve, reflecting successful upselling strategies.

Analysts have highlighted SoFi’s path to sustained profitability and its ability to attract new customers in a competitive landscape. The company has emphasized its one-stop digital experience as a key differentiator from traditional banks.

SoFi’s deposit base has grown substantially, reaching over $40 billion, providing a lower-cost funding source for its lending activities. This shift has helped improve net interest margins and overall profitability.

The stock’s recent recovery reflects growing confidence that SoFi can deliver on its long-term targets despite macroeconomic uncertainties. Management has guided for continued revenue growth and margin expansion in 2026, with a focus on capital-light revenue streams.

SoFi has also expanded into new areas such as business banking and potential crypto-related offerings, positioning it to benefit from broader trends in digital finance. Reports of strategic moves, including potential acquisitions in the capital markets space, have added to investor optimism in recent sessions.

The company’s leadership, including CEO Anthony Noto, has expressed confidence in the platform’s scalability. Insider buying by executives in recent weeks has further signaled belief in future upside.

SoFi’s transformation from a student loan refinancing specialist to a comprehensive fintech player has taken years but appears to be gaining traction. The firm now serves millions of members who use multiple products, creating sticky relationships and recurring revenue opportunities.

Challenges remain, however. The company operates in a high-interest-rate environment that has cooled some lending demand, though SoFi has offset this through strong execution and product innovation. Competition from both traditional banks and other fintechs remains intense.

Valuation concerns have surfaced at times, with the stock trading at premiums that assume continued rapid growth. Yet many analysts maintain buy ratings, citing SoFi’s addressable market and technology advantages.

Friday’s trading volume was elevated as the stock broke above recent resistance levels. The move comes amid broader interest in fintech names showing resilience and profitability improvements.

SoFi has consistently met or exceeded the Rule of 40 benchmark, which combines revenue growth and profitability metrics. Its latest score of 72% underscores efficient scaling.

Looking ahead, investors will watch for updates on loan securitization activity, member engagement trends and any strategic announcements. The company’s next earnings report is expected in late July.

SoFi’s banking charter has provided regulatory flexibility and credibility, allowing it to expand product offerings more rapidly than some peers. Its focus on younger, tech-savvy consumers has driven above-average growth rates.

The broader economic picture, including potential Federal Reserve actions on interest rates, could influence SoFi’s lending volumes in coming quarters. Management has noted resilience even without assuming rate cuts in its planning.

Retail investor interest in SoFi remains high on social platforms, where the stock has a dedicated following. This base has contributed to periodic volatility but also sustained support during pullbacks.

From a technical standpoint, the stock has been working to establish a higher trading range after earlier 2026 weakness. Positive analyst commentary and sector rotation toward growth-oriented financial technology names have supported the rebound.

SoFi continues to invest in technology and marketing to boost brand awareness, which remains relatively low compared to legacy competitors. Successful campaigns have driven record member additions in recent periods.

The company’s diversified revenue mix — spanning net interest income, loan platform fees and financial services — provides stability. Non-interest revenue streams have grown in importance as SoFi reduces reliance on pure lending.

Risks include regulatory changes, economic slowdowns affecting consumer credit and execution challenges in new business lines. SoFi has built a strong risk management framework to navigate these factors.

Analysts project continued earnings growth in coming years as the company scales. Some price targets suggest significant upside if SoFi meets its ambitious targets for member and product growth.

The fintech sector has seen renewed interest as investors seek exposure to digital transformation in finance. SoFi stands out for its full-stack approach and progress toward GAAP profitability.

Friday’s gain adds to recent positive sessions, reflecting improved sentiment following the post-earnings digestion period. With a solid balance sheet and clear strategic direction, SoFi appears well-positioned for the remainder of 2026.

Market participants will continue monitoring macroeconomic indicators and company-specific developments. SoFi’s ability to sustain record-setting quarters will be key to maintaining investor confidence.

As one of the more prominent publicly traded fintechs, SoFi serves as a bellwether for the industry’s health. Its performance has implications for how investors view the sector’s growth potential in a maturing market.

The company’s focus on long-term value creation through technology and customer experience has resonated with growth-oriented investors. Continued execution could drive further re-rating of the stock in coming months.