Nvidia printed eighty billion and still slipped, the broader market yawned, and we're watching capital quietly rotate into the guys who power the servers
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Morning brief: Nvidia dropped an eighty billion dollar buyback, BlackRock is quietly hoarding data centers, and we're all staring at Broadcom to see if the infrastructure rally holds
Nvidia's blowout Q1 earnings ignited a global rally, posting $81.6 billion in revenue and an $80 billion buyback validating the massive AI infrastructure supercycle. USA Rare Earth skyrocketed 13% after securing U.S. Department of Energy funding, accelerating its domestic critical minerals and massive magnet supply chain roadmap. IREN surged 10% as investors cheered its landmark $3.4 billion cloud infrastructure contract with Nvidia alongside a massive 605% stake increase from BlackRock. Applied Digital rallied 8% after announcing a massive 15-year, $18.2 billion lease agreement with a high-grade U.S. hyperscaler for its Polaris AI data center. Watch for sustained momentum across AI infrastructure names today, with focus shifting to upcoming earnings from Marvell and Broadcom to confirm secondary networking demand.
Posture: Selective Aggression. Pivoting into proven, cash-flowing AI infrastructure with compressed forward multiples, while maintaining a healthy cash buffer.
Tickers in focus: NVDA, AVGO, IREN
Upcoming earnings
Evening brief: Nvidia printed eighty billion and still slipped, the broader market yawned, and we're watching capital quietly rotate into the guys who power the servers
Nvidia crushed Q1 earnings with $81.6 billion in revenue, but shares slipped 1.8% as sky-high expectations left the broader market drifting mostly flat today. Applied Digital skyrocketed 21.5% after signing a 15-year, 300MW AI campus lease worth up to $18.2 billion, validating the massive hyperscaler infrastructure buildout. Nebius Group jumped 14.6% after inking a $2.6 billion fuel cell deal with Bloom Energy to bypass grid constraints for its rapidly expanding AI cloud. Spotify surged 13% following its Investor Day, setting a 2030 target of one billion users and unveiling an AI-powered remix partnership with Universal Music. Capital is rotating from crowded hardware trades into AI infrastructure pure-plays; watch if upcoming Marvell earnings justify these escalating premium multiples.
Posture: Selective Aggressive. Market is rotating from hardware into AI infrastructure. We are maintaining our software and energy hedges while targeting infra pure-plays.
Tickers in focus: NVDA, SPY, APLD
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
← Wednesday, May 20, 2026 · Friday, May 22, 2026 → · Archive