WS #8498

Dell Technologies (DELL) reported a massive earnings beat, with AI server revenue surging 757% YoY to $16.1 billion, driving the stock up 32% in its best day since returning to public markets. This corroborates the ongoing AI infrastructure spending boom and lifts the entire AI hardware complex, including Nvidia (NVDA) and Hewlett Packard Enterprise (HPE). Separately, a federal judge temporarily blocked the Trump administration's $1.8 billion 'Anti-Weaponization Fund', a political development with limited direct market impact. The broader market rally continues on US-Iran peace deal hopes and AI optimism, with the S&P 500 on track for a 9th straight weekly gain. However, BofA's Bull & Bear Indicator has entered contrarian sell territory, suggesting elevated bullish sentiment. Chevron CEO warned of potential oil shortages within weeks, which could pressure energy prices and related equities. Blue Origin's New Glenn rocket exploded during a static fire test, causing major launch pad damage and posing risks to NASA and the US space industry, negatively impacting space-related stocks like AST SpaceMobile (ASTS).