Author: Emily Bary

Not all software companies are giving upbeat guidance these days, but Okta Inc. just impressed with its view of what’s to come.

The company, which helps ensure people can access workplace applications with the proper permissions, forecast $2.85 billion to $2.86 billion in revenue for the new fiscal year, above the FactSet consensus, which was for $2.79 billion. Okta OKTA also models $678 million to $680 million in fiscal first-quarter revenue, whereas analysts were projecting $670 million.

Nvidia Corp.’s stock is sinking toward its lowest levels in months as the artificial-intelligence trade continues to unravel.

Shares of Nvidia NVDA are down 9.7% in afternoon trading Monday, having wiped out nearly six months of gains since closing at $108.10 on Sept. 10, 2024, according to Dow Jones Market Data.

Intel Corp. shares surged 22% in February, partly on hopes that the chip maker could engage in a sale of all or parts of its business.

But Intel’s stock INTC was moving higher on Monday for a different reason, and one that has more to do with the company’s actual business. Reuters reported that Nvidia Corp. NVDA and Broadcom Inc. AVGO are testing out the company’s 18A manufacturing technology.