markets

Luke Kawa8/12/25

Nvidia whipsawed by report that China’s internet regulator barred companies from ordering its chips

Plot twist!

Nvidia briefly erased all of its premarket gains of 1% after The Information reported that China’s internet regulator has “ordered local tech companies including ByteDance, Alibaba Group, and Tencent Holdings to suspend their purchases of Nvidia chips, citing data security concerns with the chips, according to three people briefed on the matter.”

Per The Information, this decision was made shortly after reports surfaced that Nvidia would be allowed to sell its H20 chips to China once again.

Chinese demand for these processors had reportedly been white-hot, with Reuters saying that Nvidia quickly reversed plans to sell down just its existing inventory and instead ordered an additional 300,000 chips from TSMC.

I’m so old, I remember when US national security concerns were the reason these chips couldn’t be sent to China. That is, I was born before mid-April 2025, when those export restrictions were put in place.

Nvidia recently reached an agreement with the US government to receive export licenses for the H20 in exchange for providing 15% of revenues generated from their sale to the US government.

The chip designer’s calendar 2025 sales estimates hadn’t been rising too briskly following reports that it regained access to what CEO Jensen Huang called a $50 billion AI data center market, suggesting that analysts had been slow to incorporate any potential top-line boost into their forecasts just yet.

Nvidia took a $4.5 billion impairment charge in its Q1 earnings report related to this loss of its China business, and said that its Q2 revenue forecast would have been $8 billion higher if not for the export curbs.

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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.

Web Summit Vancouver 2026 - Day Three

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

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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