Yields backed off to hand us an eighth green week, Spotify found religion in AI margins, and we're quietly taking SanDisk profits before the Marvell print
← Thursday, May 21, 2026 · Sunday, May 24, 2026 → · May 2026 archive · Archive
Morning brief: Nvidia printed eighty billion and still dipped, the real money quietly rotated into off-grid data centers, and now we're staring at Marvell to see if the plumbing holds up
Published
Nvidia smashed Q1 estimates with $81.6B in revenue, but the stock dipped under sky-high expectations while lighting a massive fire under AI infrastructure plays.
Applied Digital rocketed 21% after signing a 15-year hyperscaler lease, adding $7.5B in revenue and pushing its AI data center backlog past $31B.
Nebius Group surged 14% on a Q1 profitability swing and a strategic $2.6B fuel cell deal with Bloom Energy to bypass grid bottlenecks.
Spotify ripped 13% after its first Investor Day in four years unveiled aggressive 2030 targets, aiming for 1 billion users and $100B revenue.
With AI infrastructure spend validated, watch Marvell's upcoming earnings next week to see if networking demand matches the relentless GPU capex.
Posture: Bullish on AI infrastructure. Remaining disciplined by holding secular winners and buying the NVDA dip rather than overtrading.
Upcoming earnings
Evening brief: Yields backed off to hand us an eighth green week, Spotify found religion in AI margins, and we're quietly taking SanDisk profits before the Marvell print
Published
The S&P 500 secured its eighth straight winning week as easing 10-year yields and Middle East peace-talk optimism pushed markets toward fresh record highs.
Spotify jumped 6% after unveiling a generative AI remix partnership with Universal Music Group and projecting ambitious 40% gross margins by 2030.
AMD gained 4% after confirming a $10 billion investment in Taiwan's AI supply chain and aggressively ramping production of its 2-nanometer Venice CPUs.
SanDisk dropped 4% as investors locked in profits, cooling off a massive 550% year-to-date run fueled by the AI-driven NAND memory shortage.
Watch Marvell reporting earnings on May 27; options price a massive 13% swing as the street hunts for AI networking and custom ASIC guidance.
Posture: Market is extended on AI optimism. Maintaining core long equity exposure but prioritizing de-leveraging and building cash by trimming runners.
Tickers in focus: SPY, SPOT, MRVL
Upcoming earnings
The day's lineup changes
No lineup changes this day.
← Thursday, May 21, 2026 · Sunday, May 24, 2026 → · May 2026 archive · Archive