Markets
markets
David Crowther

Nvidia’s blowout earnings and guidance are lifting the entire AI supply chain

You might expect a company that recently reached a $5 trillion market cap (the first in history to do so) to be a relatively mature enterprise; slowing down, with a fat cash cow at its core, multiple divisions pulling in billions of dollars, and a few exciting nascent bets on the future. You probably wouldn’t expect them to post a reacceleration in revenue growth.

But that’s exactly what Nvidia posted across its Q3 earnings yesterday, with its reported $51.22 billion in data center revenue giving a huge lift to risk sentiment.

With revenue and adjusted earnings per share beating by ~3%, and guidance that was even rosier, Jensen Huang and co. have given a shot in the arm to America’s entire AI complex. Aside from Nvidia itself, here are a few of the winners this morning:

  • Companies directly in the semiconductor supply chain are catching a bid, with giants like Broadcom and AMD making the most notable moves in early trading, up 2.8% and 4.4%, respectively, as of 5 a.m. ET.

  • Upstart data center players are making even bigger gains, with IREN and Cipher Digital up between 8% and 10%.

  • Palantir is up 3.4%, aided by a mention from Nvidia’s CFO, who said that the company was “supercharging the incredibly popular Ontology platform with NVIDIA CUDA-X libraries and AI models for the first time,” having previously run the software on CPUs.

  • The neoclouds are also soaring: CoreWeave is up more than 9%, as its business model is tightly wound with Nvidia’s own. Future demand to rent the ~250,000 Nvidia GPUs that CoreWeave owns feels more assured than ever. Nebius, which offers a full-stack solution for this “surge demand” for AI compute, is gaining as well, up about 7%.

  • A number of stocks in the “powering the AI boom” theme are also springboarding from the chip designer’s results. Behind-the-meter energy play Bloom Energy is up more than 5%, while nuclear-geared stocks such as Constellation Energy, Oklo, and Nuscale have all caught a bid in premarket trading — with gains of 2.7%, 4.4%, and 7%, respectively, as of 4:40 a.m. ET.

  • In the AI server space, Super Micro Computer is the standout, up nearly 6%. Data storage names like Western Digital and Seagate Technology Holdings are also trading modestly higher, paring some of their initial rise to be 2.5% and 3.4% higher, respectively, at the time of writing.

  • Other speculative stocks and risk assets have also turned green since the results. Bitcoin reclaimed the $92,000 milestone and quantum stocks were up modestly, while equity markets in Europe and Asia traded higher and S&P 500 futures climbed 1%.

On the earnings call, Huang said that “AI is going everywhere, doing everything, all at once” — that is certainly the case in premarket trading.

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Tasha Matsumoto, Matt Phillips
4/17/26
The S&P 500, Nasdaq 100, and Russell 2000 close at record highs again as Strait of Hormuz is declared open

Stocks reached new record highs as risk-on sentiment flooded back into the markets, while oil tumbled.

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markets
Matt Phillips

With their recent surge, Intel shares just hit their highest level since the dot-com era

Intel’s surge of nearly 60% this month has the iconic American chipmaker’s stock price approaching levels last seen during the dot-com era. Bloomberg noted that shares just touched their highest intraday level since the turn of the century:

“The stock rose as much as 1.5% to $69.55, topping a peak it hit on Jan. 24, 2020. The shares are up 90% this year, after soaring 84% in 2025. Intel is now roughly 8% from its all-time closing high of $74.88, established on Aug. 31, 2000.”

That’s just the most recent late-’90s-era throwback we’ve been seeing in tech shares lately. Oracle is currently pacing for its best week since late 1999.

What’s even more remarkable, however, is that Intel’s forward price-to-earnings ratio today dwarfs the premiums the market was putting on the stock during the nuttiness of the dot-com mania.

That reflects the fact that the recent run-up in Intel shares is, essentially, giving the chip giant credit for a massive turnaround that hasn’t actually happened yet.

One also might wonder if the fact that Intel is partially owned by the US government means it’s more attractive — and therefore worth a higher premium — than other chipmakers without the state imprimatur.

Still, kind of startling.

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Netflix sinks following disappointing outlook as investors wait for more ad growth

Netflix shares are down more than 10% on Friday morning.

Max Knoblauch4/17/26
markets
J. Edward Moreno

Eli Lilly’s GLP-1 pill hit nearly 1,400 prescriptions in first week

Eli Lilly rose after preliminary numbers cited by Wall Street analysts showed strong uptake of its new weight-loss pill.

The FDA approved Foundayo on April 1 and shipments began on April 9. In its first week, roughly 1,400 US prescriptions were written for the drug, according to IQVIA data cited by Deustche Bank analysts in a Friday note.

Novo Nordisk, Lilly’s rival in the GLP-1 market, released its GLP-1 pill earlier this year, and early signs show that it’s expanding the market, inviting patients who were turned off by weekly injections. Novo’s pill had a stronger first week than Lilly’s, with its Wegovy pill hitting 3,071 US prescriptions in the first four days after its launch on January 5.

Lilly’s pill has an advantage over Novo’s, which is that it can be taken at any time of day, with or without food. Lilly disclosed in a February regulatory filing that it had $1.5 billion worth of prelaunch inventory ready ahead of the FDA approval — which is about as much as analysts polled by FactSet expect it to sell this year.

Eli Lilly makes the world’s bestselling drug. Can it keep the party going?

Eli Lilly makes the world’s bestselling drug. Can it keep the party going?

Novo Nordisk, Lilly’s rival in the GLP-1 market, released its GLP-1 pill earlier this year, and early signs show that it’s expanding the market, inviting patients who were turned off by weekly injections. Novo’s pill had a stronger first week than Lilly’s, with its Wegovy pill hitting 3,071 US prescriptions in the first four days after its launch on January 5.

Lilly’s pill has an advantage over Novo’s, which is that it can be taken at any time of day, with or without food. Lilly disclosed in a February regulatory filing that it had $1.5 billion worth of prelaunch inventory ready ahead of the FDA approval — which is about as much as analysts polled by FactSet expect it to sell this year.

markets
Claire Yubin Oh

Critical Metals jumps after Greenland’s government approves CRML to take majority control of the Tanbreez mining project

Critical Metals is up more than 25% in premarket trading on Friday after the critical mining company announced that it now owns 92.5% of the Tanbreez rare earth deposit following an approval from the government of Greenland.

With that latest government support, Critical Minerals added an additional 50.5% stake to its ownership, reportedly acquired from Rimbal Pty Ltd, per Bloomberg News. With access to eight heavy rare earth elements often used in consumer electronics and defense, the site is one of the world’s largest undeveloped rare earth deposits and a key source of rare earth supply outside of China, according to the company.

In Critical Metals’ press release, Chairman Tony Sage commented that the approval “removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence,” especially as Tanbreez’s location offers a significant logistical advantage through its year-round direct shipping access, compared to rival projects.

With 92.5% of the project now vested in Critical Metals Corp., and the remainder owned by European Lithium Ltd., CRML now has full control of the project and is seeking to accelerate development there, with plans for a new international airport and a “150-tonne bulk sample program,” which is slated for June 2026.

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