China exported more than twice as many electric vehicles (and plug-in hybrids) in the first quarter of 2026 as it did in the same period last year, according to the China Passenger Car Association (CPCA).
New energy vehicle exports surged 124% year over year, as major players like BYD and Chery ramped up overseas efforts to combat lower domestic sales. Tesla’s China business also boosted exports, shipping 164% more EVs than the same period the year before.
Nio is ramping up export efforts as well, with a goal to deliver “several thousand” EVs overseas this year and have a presence in 40 countries. Still, the automaker exported 271 vehicles in Q1 — less than half of a percent of the company’s total deliveries.
According to the CPCA, April will see the country’s automotive industry continue its “slow recovery.”
Investors were selling Palantir shares again on Friday, with the stock falling as much as 6% before stabilizing, thanks to an assist from the White House.
At its worst moments, the sell-off put the retail favorite on track for its worst weekly loss (more than 16%) since February 2021.
But Palantir has powerful friends: President Trump posted on Truth Social celebrating the company’s “great war fighting capabilities,” sending the stock higher, though it remained in the red.
(Truth Social)
The overall negative sentiment seems to stem from Anthropic’s powerful new AI models, at least judging from the latest epistle from Palantir bull Dan Ives at Wedbush Securities:
“Anthropic released a new product around multi-agent orchestration, which continues to add more headwinds to the software sector. While Anthropic is hitting a new scale with the company now at $30 billion [annual run rate], up from $9 billion at the start of the year, we believe this is not at the expense of PLTR’s business as the company continues to accelerate both its US commercial and government businesses.”
Of course, the specter of AI undermining of other software companies has been a well-established theme for months. And it’s clearly at play in the market on Friday, with Palo Alto Networks, ServiceNow, CrowdStrike, Zscaler, Figma, and Atlassiancontinuing to get clocked on negative AI implications.
But the recent inclusion of Palantir among the pack of potentially replaceable software providers is newer, with the view popularized by well-followed market commentator Michael Burry’s pronouncement — since deleted — that Anthropic is “eating Palantir’s lunch,” which seemed to contribute to the downdraft for Palantir today.
Michael Burry's now-deleted X post sends $PLTR lower. 📉
The stock dove through its 50-day moving average in recent days, underscoring the sputtering momentum for what has been one of the market’s biggest winners over the last couple years. Long-term holders are still up massively, with the stock up about 1,400% over the last three years.
CoreWeave struck a multiyear deal with Anthropic to rent data center capacity to build and deploy its Claude AI models, the company announced Friday.
The company did not specify how much the deal is worth. The stock, which has swelled more than 20% in the past month as of yesterday’s close amid a string of positive news, is up another 4.5% in premarket trading as of 8:45 a.m. ET.
CoreWeave announced on Thursday that it has expanded its deal to provide AI compute to Meta. The company, which initially booked a $14.2 billion deal with Meta in September, will now provide an additional $21 billion worth of services to the hyperscaler. Separately, CoreWeave announced two bond offerings on Thursday as well.
CoreWeave also recently disclosed that it would borrow $8.5 billion backed by its chips and Meta’s AI compute purchases. The unique financing arrangement helped secure a lower interest rate.
Lumentum rose more than 5% in premarket trading on Friday, and lifted its competitors with it, after the company’s CEO told Bloomberg that demand for its optical components is through the roof.
Chief Executive Officer Michael Hurlston told the outlet Friday that the company is “falling further and further behind the demand” and would be sold out through all of 2028 within two quarters.
“The capex numbers from the US hyperscalers are enormous and there seems to be no end in sight,” he said.
The comments also bolstered Lumentum’s peers, with Applied Optoelectronics and Coherent also in the green in early trades this morning.
These companies make optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers, a technology increasingly seen as critical for scaling artificial intelligence capacity.
Earlier this month, Nvidiasaid that it would invest $2 billion apiece in Coherent and Lumentum to develop their advanced optics technologies.
“The capex numbers from the US hyperscalers are enormous and there seems to be no end in sight,” he said.
The comments also bolstered Lumentum’s peers, with Applied Optoelectronics and Coherent also in the green in early trades this morning.
These companies make optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers, a technology increasingly seen as critical for scaling artificial intelligence capacity.
Earlier this month, Nvidiasaid that it would invest $2 billion apiece in Coherent and Lumentum to develop their advanced optics technologies.
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