US Stock Market Move | AI application software stocks collectively rise, with Duolingo (DUOL.US) surging over 15% to reach a historic high.

On Friday, AI application software stocks collectively rose, with Duolingo (DUOL.US) jumping over 15% to a record high, Applovin (APP.US) and Tempus AI (TEM.US) rising nearly 7%, and Palantir (PLTR.US) rising over 5%. On the news side, Duolingo announced on Thursday evening that its first quarter net profit was $0.72 per diluted share, higher than the $0.57 per share for the same period last year, with analysts surveyed by FactSet expecting $0.51. Revenue was $231 million, up from $168 million for the same period last year, with analysts surveyed by FactSet expecting $223 million. In addition, the company raised its revenue and profit expectations for the fiscal year 2025.