Nutanix shares jumped 23% in premarket trading after delivering solid fiscal Q2 results with adjusted EPS of $0.56 and revenue of $722.8 million. The cloud data storage company reported pretax income of $205.4 million, improving from $173.9 million a year earlier, while raising its full-year revenue guidance to $2.80 billion to $2.84 billion.

The company announced a multi-year strategic partnership with AMD, including a $150 million equity investment and joint R&D funding. Nutanix and AMD will co-develop an enterprise agentic AI and inferencing platform, with the first version expected by late 2026 and revenue contributions beginning in the second half of fiscal 2027.

Bank of America analyst Wamsi Mohan viewed the partnership as broadening Nutanix's GPU ecosystem beyond Nvidia while noting early days for enterprise AI adoption. BofA maintained its Buy rating with a $60 price target, citing expected bookings growth and potential share gains against VMware.