Markets
Max Knoblauch

Chinese EV makers’ sales mostly rebound in May, with Nio deliveries surging 62%

Several Chinese EV makers saw deliveries rebound in May, with Nio logging its best month of 2026.

Nio delivered 37,705 vehicles in May, up more than 28% from April and more than 62% from the same month last year. It launched its Onvo L80 electric SUV on May 15 and its ES9 SUV last week. Its US-listed ADRs were up about 3% in premarket trading on Monday.

XPeng ADRs climbed more than 4% premarket as it reported 3.7% month-over-month delivery growth from April. Its deliveries are expected to grow in June as it ramps up production of a new SUV.

BYD logged a 19% month-over-month sales hike from April. The company is rapidly boosting its overseas business to make up for flailing domestic sales, and that was reflected in its sales figures: overseas sales grew 80% from last year, while domestic sales fell 24%. Its ADRs were flat in premarket trading.

Li Auto dipped in premarket trading — its May sales were down 18% from last year and about 2% from April.

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markets
Helena Cheng

IBM surges after Barclays initiates with a buy, video of Trump in 2025 saying stock will “go up a lot more” resurfaces

IBM shares are jumping in early trading because of both old and new praise. The old: a video featuring President Donald Trump complimenting the company’s CEO, Arvind Krishna, was reshared by Polymarket Money’s X account, but without the context of it being from December. The new: Barclays initiated coverage of IBM at “overweight” with a $350 price target.

Barclays analyst Raimo Lenschow urged investors to stop looking at IBM through the lens of legacy hardware in a Monday note. Instead, he said to focus on the sheer defensive dominance of IBM’s highly specialized software segment, which currently generates nearly half of the corporation’s overall revenue and the vast majority of its net profit.

“While software has a negative investor connotation at the moment, IBM is offering infrastructure software (the good part) to large, often heavily regulated customers, which creates a very sticky set-up that should not see negative AI implications,” Lenschow noted.

Compounding the institutional buying enthusiasm is a wave of retail momentum triggered by social media posts, as traders on X and TikTok began widely sharing a video clip from 2025 where Trump explicitly praises the technology company, confidently stating that IBM stock is going to “go up a lot more.”

IBM’s move builds on momentum from last week following its commitment to spend $10 billion in quantum computing over the next five years to build the first large-scale quantum computer. This comes after the Trump administration signed a number of letters of intent to award a total of $2 billion in grants to nine quantum companies, including IBM, in deals that also include equity stakes.

David Crowther
3h
Software stocks strike back, as Jensen Huang throws fuel on the fire with comments at Computex

The Nvidia CEO said that it’s an “incredible time” to be a software company, as Nvidia unveiled the RTX Spark — a new superchip developed in collaboration with Microsoft which Huang promises will "reinvent" the PC.

TAIWAN-TECHNOLOGY
markets
Max Knoblauch

MGM Resorts surges after report Barry Diller is planning a bid for the company

MGM Resorts is up more than 11% in premarket trading Monday following a report that the casino giant is the target of an acquisition by billionaire Barry Diller’s People Inc. (IAC).

The deal would value MGM at $18 billion, according to The New York Times.

People Inc. already holds more than a quarter of MGM and two board seats. (Diller holds one of them.)

The news comes just days after MGM rival Caesars Entertainment reached an agreement to be acquired by billionaire Tilman Fertitta’s company for $5.7 billion.

Barry Diller’s People Inc. Plans a Takeover Bid for MGM Resorts

Barry Diller’s People Inc. Plans a Takeover Bid for MGM Resorts

People Inc. already holds more than a quarter of MGM and two board seats. (Diller holds one of them.)

The news comes just days after MGM rival Caesars Entertainment reached an agreement to be acquired by billionaire Tilman Fertitta’s company for $5.7 billion.

markets
Helena Cheng

Nvidia jumps after entering laptop market with new PC “superchip”

Nvidia shares are rising after the company announced its push into the PC processor market, unveiling the company’s highly anticipated RTX Spark “superchip,” a new processor designed to bring advanced AI capabilities directly to Windows laptops.

“There is no question this reinvention of the computer is as big of a deal as the reinvention of the phone into what we now know as the smartphone,” Nvidia CEO Jensen Huang said at the Computex trade show in Taipei.

Nvidia said the company is reimagining the PC “for the first time in 40 years” and the new platform is built for “agentic AI,” allowing AI models and assistants to run locally on laptops rather than relying entirely on cloud computing. Microsoft simultaneously unveiled its Surface Laptop Ultra powered by RTX Spark, while Dell, HP, and Lenovo are expected to launch systems based on the chip later this year.

RTX Spark combines an Arm-based CPU, Nvidia’s Blackwell graphics architecture, and dedicated AI hardware into a single chip designed for AI-heavy workloads.

This move put the company into more direct competition with Intel, AMD, Qualcomm, and Apple in the personal computing industry. Shares of Intel, Qualcomm, and AMD are all sinking right now after the Nvidia announcement. The move also positions the RTX Spark on a collision course with the M5 from Apple, which is also trading lower. Meanwhile, Arm Holdings, on whose architecture RTX Spark is built, surging in premarket trading along with Microsoft and HP Enterprise.

For investors, the announcement serves as another reminder that the AI trade is increasingly expanding beyond data centers and into consumer hardware.

Tasha Matsumoto
5/29/26
Stocks close week with new records powered by tech gains and ceasefire optimism

The S&P 500 gained for the ninth straight week, its longest winning run since 2023.

Michael Jordan #23, Shooting Guard and Small Forward for the Chicago Bulls wearing a warm up jacket looks on during player introductions before the NBA Midwest Division basketball game against the Denver Nuggets

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