markets

Luke Kawa5/1/25

AI hyperscalers just made Nvidia the center of the market universe again

When AI hyperscalers deliver quarterly reports, it’s almost like they’re preannouncing results for Nvidia.

Microsoft said that AI drove nearly half the growth in the better-than-expected revenues for its Azure cloud business, while Meta CEO Mark Zuckerberg quintupled down on his capex spending binge.

That’s led to a reinvigoration of the AI trade, with Nvidia a key beneficiary. This encouraging news from major customers has enabled the chip designer to grab the enthusiasm baton back from Tesla.

As of 10:00 a.m. ET, about 15% more money has changed hands trading Nvidia relative to Tesla, while the number of call options traded are nearly 3x higher for chips versus electric vehicles. Both are stark reversals of the recent trend catalyzed by Tesla’s post-earnings surge.

Nvidia traded more dollar volume (shares traded * price) than Tesla in nearly 80% of sessions in 2024. But that momentum really petered out around the end of the year, with more focus on postelection “Trump trades” in which CEO Elon Musk’s close connection with the president stoked more intense demand for shares of Tesla compared to Nvidia.

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New York City Architecture And Monuments

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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