WS #7854
The dominant signal in this window is the massive rally in Asian equities driven by multiple catalysts: Nvidia's record earnings and $80B buyback, Samsung's strike cancellation, OpenAI's IPO preparations, and de-escalation signals in the Iran conflict with tankers transiting the Strait of Hormuz and Trump saying negotiations are in final stages. The Nikkei surged 3.58%, KOSPI jumped 7%, and Taiwan stocks rose 3.5%. Brent crude fell ~6% as three supertankers carrying 6 million barrels exited the Strait of Hormuz, and the UAE pipeline bypass is 50% complete. This counters the prevailing oil supply disruption thesis. Separately, SpaceX filed for a record-breaking IPO, Anthropic signed a $45B deal with SpaceX for AI compute, and OpenAI is preparing to file its IPO. India is mulling rate hikes as the rupee slumps. The US-Cuba tension narrative is stable with no new escalation beyond the Raul Castro indictment. The Nvidia China concession narrative is stable. Key developments include: Nvidia's Q1 revenue of $81.6B (up 85% YoY) with data center revenue up 92% to $75.2B, and a $80B buyback; SpaceX IPO filing with $1.25T valuation, targeting $50-75B raise; Samsung strike averted with 6.2% wage hike; Anthropic's $45B deal with SpaceX; OpenAI IPO filing imminent; SoftBank surging 20% on OpenAI/SB Energy IPO news; Google investing $15B in Missouri data center; Meta laying off 10% of workforce; and Australia unemployment jumping to 4.5%.
Key developments
- Nvidia Q1 Revenue $81.6B, Up 85% YoY; Data Center Revenue $75.2B, Up 92%
- SpaceX Files for IPO at $1.25T Valuation, Targeting $50-75B Raise
- Samsung Strike Averted: Union Reaches Preliminary Wage Deal with Management
- Anthropic Signs $45B Deal with SpaceX for AI Compute Infrastructure
- SoftBank Surges 20% on OpenAI IPO Filing Reports
- Meta Lays Off 10% of Workforce; Zuckerberg Admits Using Employee Data for AI Training
- Google Invests $15 Billion in Missouri Data Center
- Australia Unemployment Jumps to 4.5%, Highest in 4.5 Years