WS #5829

The data window shows multiple high-significance developments. Intel (INTC) reported a massive Q1 beat with revenue of $13.6B (+7% YoY) and strong Q2 guidance, driving a ~28% pre-market surge, which is a major positive for semiconductors and tech broadly. This counters any bearish macro narratives. Separately, Meta (META) struck a multi-year deal with Amazon's AWS to use hundreds of thousands of Graviton chips for AI infrastructure, following $48B in recent AI commitments, signaling continued AI capex growth. However, Meta also announced layoffs of ~8,000 employees (10% of workforce), indicating cost discipline. The US-Iran conflict escalates: a top US general confirmed Iran attacked five merchant vessels, the US is enforcing a blockade of the Strait of Hormuz, and has ordered 34 vessels to turn back. The IEA warned of tight LNG supply through 2027 due to Hormuz blockade, with potential loss of 20% of current supply. Oil prices remain elevated (Brent above $105). Russia's central bank signaled a potential pause in rate cuts, citing positive oil prices for the budget. The EU is discussing activating Article 42.7 mutual defense clause amid US threats to suspend Spain from NATO. China pulled back on fiscal spending in March as the economy rebounded. Samsung union reported chip output dropped sharply (foundry -58%, memory -18%) amid pay protests, which could impact memory chip supply. Novo Nordisk announced positive oral semaglutide trial results in children with type 2 diabetes, boosting its stock. The US federal government reclassified medical marijuana from Schedule I to III, removing 280E tax burden for medical operators, benefiting cannabis stocks like SHFS. Polymarket's valuation surged to $9B after a $2B investment from ICE, and a US soldier was indicted for insider trading on Polymarket regarding Maduro's capture. Finally, Siemens Energy raised profit guidance and became third most valuable DAX company, reflecting strong energy infrastructure demand.