AI reduces headcount demand, yet brings more Agents, also granting cybersecurity a new incremental budget.

This week, Nvidia will reveal how much more its earnings can grow, while Warsh may determine how much the market is willing to pay for those earnings.

Marvell's revenue and adjusted EPS both beat expectations this quarter, with the data center business serving as the core growth driver, posting a 46% year-over-year revenue increase and rising to 79% of total revenue.

IREN's quarterly revenue slightly beat market expectations, but its net loss far exceeded expectations, primarily due to a large non-cash impairment from the accelerated exit from Bitcoin mining.

NVIDIA remains NVIDIA. After completing its leap from chip supplier to builder of the computing world, it is now laying the groundwork ahead of time for an era that has not yet fully arrived.

Phase I saw CBRS and SPCX successfully list and trade, Phase II saw Anthropic and Polymarket enter premium buybacks, and now Phase III stands at a brand new starting point.

Walmart's quarterly revenue and adjusted earnings per share both surpassed expectations, but U.S. same-store sales growth slowed to its lowest level in over six years, with pharmacy price deflation serving as the primary drag.

Alibaba's quarterly revenue slightly exceeded market expectations, but adjusted net profit and earnings per ADS both significantly missed expectations, mainly due to increased AI investment and two one-time expenses.

As AI becomes the market's biggest consensus, it means that while it remains the main storyline, the era of "blindly buying AI" is coming to an end.

Baidu's quarterly revenue slightly missed market expectations, with the contraction in its advertising business persisting. Meanwhile, AI business revenue has maintained a share of roughly half of total core business revenue for two consecutive quarters, with GPU cloud being the fastest-growing segment.

AI infrastructure is evolving from a "CapEx cycle" within the tech industry into a financing cycle jointly borne by the entire financial system.

Applied Materials delivered a record quarter, with both revenue and adjusted earnings surpassing expectations, with the semiconductor systems business serving as the primary growth driver.

Securing 1GW a year early could mean $100 billion in revenue—this is a war fought over time, and Musk happens to possess the hardest-to-replicate advantage.

Lumentum delivered a quarter with revenue more than doubling year-over-year, driven primarily by AI data center optical interconnect demand, with both the components and systems segments exceeding expectations.

Rocket Lab delivered record quarterly revenue and backlog, with the Space Systems business as the primary growth driver, while launch services saw a sequential decline due to revenue recognition timing. The company also raised its next-quarter revenue guidance above market expectations, but continued heavy investment in the Neutron rocket's first flight and production ramp-up has pushed next-quarter operating loss guidance beyond what the market had originally anticipated.