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Rule Breakers recommendation MongoDB (NASDAQ:MDB) soared 30% higher in pre-market trading after posting a 24% year-over-year rise in second-quarter revenue to $591.4 million yesterday, up from $478.1 million in Q2 a year ago and from $549 million in Q1. It beat the high end of guidance, with the company's Atlas cloud platform revenue -- up 29% -- accounting for 74% of the total. MongoDB added new artificial intelligence (AI) features from its Voyage AI unit and announced new partnerships with AI developers.

• "MongoDB is emerging as a key component of the AI infrastructure stack." CEO Dev C. Ittycheria said MongoDB counts 70% of the Fortune 500 among its customers -- pushing total customer numbers to 59,900 as of July 31.
• 2018 MongoDB recs in Rule Breakers beating the S&P 500 by 119% and 410%: The company lifted full-year revenue guidance to $2.34billion to $2.36 billion, even against competition from other cloud database providers. Investors should watch for AI-based competitive advantage.

Okta (NASDAQ:OKTA) is up 5% overnight after the company posted revenue and earnings beats in yesterday's after-hours Q2 update. Revenue rose 13% year over year, as earnings per share gained 26%.

• "Okta's unified identity platform is winning customers ranging from the world's largest global organizations to massive government agencies." CEO Todd McKinnon says Okta's software helps provide independence from the major AI infrastructure builders.
• FY revenue growth estimated at 10%-11%: Stressing a prudent approach to guidance, Okta expects Q3 revenue to show growth between 9% and 10% year over year.

All eyes are on Q2 earnings from Nvidia (NASDAQ:NVDA) after market close. Seen as a bellwether for the AI boom, the stock is up 35% year to date. Analysts expect revenue to rise 53% year over year after growth slowed to 69% in the previous quarter -- following five quarters in a row above 100%.

• "The assumptions and performance of Nvidia really dictates what the market is going to start to price into the AI trade." Melissa Otto at S&P Global (NYSE:SPGI) highlighted the driving force of AI on the stock market.
• "Even if you don't own Nvidia, you probably own Nvidia given its 8% weight in the S&P 500 index, where so many people park retirement funds." Fool analyst Seth Jayson expects that we'll "get a decent read on Blackwell demand, the timeframe for the upgrade, as well as the next-generation stuff. We'll find out how much attached networking revenue there is -- something that's nice for Nvidia but often over-weighted as a threat to network specialists."

Several other Fool favorites are due to post earnings updates after today's close, including a Q2 update from flash data storage developer Pure Storage (NYSE:PSTG). Q1 beat Wall Street estimates, with annual recurring revenue jumping 18%. Estimates suggest 10.8% revenue growth year over year this time.

• Number 6 in July's Stock Advisor rankings for its ability to beat the market over five years: It's Q2 time for Veeva Systems (NYSE:VEEV), following strong top- and bottom-line beats in Q1, as analysts predict around 13.5% year-over-year revenue growth this time. Veeva's moves into the health sciences industry could be key.
• Cloud services favorites: CrowdStrike (NASDAQ:CRWD) and Snowflake (NYSE:SNOW) are also set to deliver earnings updates this afternoon, as we mentioned on Monday. Watch for second-half growth guidance from both.

Alphabet's (NASDAQ:GOOG) (NASDAQ:GOOGL) life sciences company, Verily, has closed its medical devices development program, reports Business Insider. Verily had developed products that include a clinical study watch, a retinal camera, and a wearable glucose sensor.

• "Narrowing product focus around our precision health platform, and data and AI strategy." In a memo to staff, CEO Stephen Gillett said the company "cannot support the investment of the resources necessary" to continue device development.
• Started as a moonshot -- a high-ambition technology project -- in Google's X lab: Verily has been turning to cost-cutting and streamlining, with the number of job cuts currently unknown.

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