"AXON enhancements through ongoing self-learning and our dedicated development efforts have fueled robust business performance this quarter," AppLovin said in its second-quarter shareholder letter in August.
While Nvidia's spectacular surge remains the biggest story in the technology industry, the AI chipmaker's performance has been dwarfed this year by AppLovin.
Founded 12 years ago, AppLovin went public in 2021, riding a Covid-era wave of excitement in online games, now thriving primarily in online advertising.
Great returns bring great expectations, and AppLovin has a lot to prove in its earnings report on Wednesday, as investors look for proof that the rally is warranted.
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