Shares of BlackBerry jumped over 9% on news that Hood River Capital Management held 14.1 million shares of the stock as of the end of Q4. That makes Hood River the fifth-largest holder of BlackBerry.
The stock has been on a tear recently, trading at 147% of its 50-day rolling average.
Ahead of Nvidia’s GTC keynote address this afternoon, I’ll make a confession: I find often find myself a bit entranced when CEO Jensen Huang speaks. It’s something about his oration and imagination — and the ability to back that up with the products that enable ever-increasing sales and profits.
However, lately, the market has been anything but impressed. Through 2025 and 2026, most of Nvidia’s major events (earning reports, CES, or its twice-a-year GTC) were met with selling pressure.
That’s a track record the CEO will be looking to improve upon during today’s keynote address, slated to begin at 2 p.m. ET.
Note: On all of Nvidia’s down days in the above chart, shares also underperformed the S&P 500 on the session.
High-profile events have not, by and large, been positive catalysts for the stock. This probably doesn’t have much to do with anything the leader of the world’s most valuable publicly traded company actually says, and is more a function of how high expectations get any time you can circle an Nvidia date on the calendar.
The two recent exceptions were:
His address in DC in late October; the stock hit a fresh peak when Huang talked up more than $500 billion in orders for Blackwell and Vera Rubin chips through 2026. The stock went on to set its all-time intraday and closing highs the following session.
Q1 2026 earnings, where the stock booked a solid gain after better-than-expected results.
Update: A previous version of this post/chart misstated the reaction associated with Nvidia’s Q1 2026 earnings.
Nebius is skyrocketing in early trading on Monday, up nearly 14% as of 8 a.m. ET, after the Amsterdam-based company announced a new five-year deal, worth as much as $27 billion, with Meta.
The social media giant will initially buy dedicated AI computing capacity across multiple locations for $12 billion, which will be "one of the first large-scale deployments of the NVIDIA Vera Rubin platform," with delivery beginning from early 2027 according to the company's press release.
Meta will also buy an additional $15 billion worth of Nebius’ planned capacity if it’s not sold to other customers over the same five year period.
Nebius added in the press release that its guidance for 2026, in which the company is forecasting an annualized revenue run-rate of $7 billion to $9 billion per its Q4 earnings results, remains unchanged, signaling that the gains from the new deal will likely start rolling in after this fiscal year. This latest deal with Meta, which adds to their previous $3 billion deal announced in November, also notably relies on its partnership with another big tech company, Nvidia, which recently invested another $2 billion in Nebius.
This news of another major hyperscaler deal is sparking a bid for many of the other so-called “neocloud” companies like CoreWeave, IREN, Applied Digital, Cipher Mining, and Riot Platforms, which also sell hardware and cloud capacity to AI infrastructure-obsessed tech giants.
For Meta, the deal underscores the company's current financial focus: capital is to be used to expand in AI as quickly as possible, but spending in other areas is to be more cautious. Over the weekend, Reuters reported that the company was looking at layoffs which could affect more than 20% of its staff.
So far, dropping tens of billions of dollars on talent and compute capacity hasn't catapulted Meta to the top of the AI leaderboards — just last week, The New York Times reported that the company was delaying the release of its Avocado model because it simply wasn't good enough.
Major Nvidia and Apple supplier Hon Hai (better known as Foxconn) reported a set of mixed Q4 results.
The electronic components manufacturer posted revenues of NT$2.61 trillion, ahead of estimates for NT$2.45 trillion, but net income of NT$45.21 billion came in below the anticipated NT$59.86 billion.
While this is one way to interpret those results...
Hon Hai posted a 2.4% drop in quarterly profit, suggesting weakening demand for Nvidia servers at the heart of the AI boom. https://t.co/zSLJjR5bvc
— Bloomberg (@business) March 16, 2026
...the other would be to note that revenues beat expectations, that its AI-linked business’s sales beat those of its smartphone division in Q4 (the peak season for the latter), and that the company said “the AI server sector is expected to see strong growth in 2026.”
And then there’s this headline from Dow Jones, to underline the point:
Foxconn Expects 2026 AI Server Rack Shipments to Grow Exponentially
There’s... no bad news about AI demand here, and the market seems to agree, with Nvidia up 1.1% in premarket trading as of 7:17 a.m. ET on Monday.
Most likely, we’ll get some more reassuring commentary on the state of the ongoing spending tech campaign when Nvidia CEO Jensen Huang delivers the keynote address at the chip designer’s GTC in San Jose.
Micron rose 4% in premarket trading on Monday after the memory manufacturer announced that it had closed the acquisition of Powerchip Semiconductor Manufacturing Corporation’s (PSMC) P5 site in Tongluo, Taiwan, which had been announced in mid-January.
The rally comes amid big gains for the other big high-bandwidth memory (HBM) chip companies. South Korea’s Samsung and SK Hynix rose 2.8% and 7%, respectively, on Monday.
In addition to the closing of the deal, Micron plans to begin “construction of a similar-sized second cleanroom at this site by the end of fiscal 2026.” That will add approximately 270,000 square feet of space, in addition to a retrofitting of the existing clean room, at roughly 300,000 square feet, to begin in March, per the company’s press release.
The expansion plans will therefore almost double the site’s clean room space — rooms that are specifically engineered to minimize potential contaminants and regulate variables like temperature, moisture, and pressure, which is essential to the production of microscopic chips.
Both clean rooms at the new site will act as an extension of Micron’s vertically integrated mega campus in Taichung, located some 15 miles away from the site, to expand its supply of DRAM products, including HBM, to support surging AI demand.
The Tongluo site, as a whole, is expected to meaningfully support Micron’s shipments starting fiscal 2028, as the company continues to scale up in Asia to meet its memory demand.
US oil prices moved higher in afternoon trading Friday, sapping strength from the stock market as they posted their highest close since the start of the Iran war.
After another day where the Strait of Hormuz was essentially closed to global tanker traffic, US futures for West Texas Intermediate settled up 3.1% at $98.71 a barrel for an 8.6% weekly gain, per Dow Jones data.
American officials have discussed using the US Navy to escort tankers through the narrow waterway between Iran and Oman, but have said plans for such convoys are not ready yet. However, it is unclear if military convoys would bring an end to the war-related dislocations in the oil market.
“It could help,” Tom Liles, senior vice president of upstream research at energy consulting firm Rystad, told Sherwood News in a recent interview. “It could also go in a lot of different directions if a Navy ship is hit or if a tanker is hit.”
American officials have discussed using the US Navy to escort tankers through the narrow waterway between Iran and Oman, but have said plans for such convoys are not ready yet. However, it is unclear if military convoys would bring an end to the war-related dislocations in the oil market.
“It could help,” Tom Liles, senior vice president of upstream research at energy consulting firm Rystad, told Sherwood News in a recent interview. “It could also go in a lot of different directions if a Navy ship is hit or if a tanker is hit.”
