Nvidia’s CEO Jensen Huang speaks during a keynote address at Nvidia’s GTC Conference on March 16, 2026 in San Jose, California. <\/p>\n
Benjamin Fanjoy | Getty Images<\/p>\n
Hello, this is Hui Jie writing to you from Singapore. Welcome to today’s edition of the Daily Open newsletter. <\/p>\n
When is a drop in your share price after a blockbuster set of results a good thing?<\/p>\n
When you are Nvidia, according to some analysts<\/a>. They say it shows a maturity in the AI company that puts it in the same league as Apple and Amazon when it comes to investor opinion. <\/p>\n Even as the stock looks set for a negative open, the blow-out numbers are providing a boost to the broader markets, with Asian equities higher after the U.S. snapped its three-day losing streak. <\/p>\n What you need to know today<\/p>\n It’s the company that investors have been waiting for this earnings season \u2014\u00a0Nvidia<\/a>.<\/p>\n “This was an extraordinary quarter. Demand has gone parabolic,” CEO\u00a0Jensen Huang said<\/a>\u00a0as he closed out the earnings call. “The reason is simple: Agentic AI has arrived.”<\/p>\n Data center revenue nearly doubled and revenues soared past expectations for the quarter, but shares slipped in extended trading.<\/p>\n Huang is not simply looking out for his own. He spoke of his company investing heavily across its supply chain or, in his words, the AI industry’s “five-layer cake” of energy, chips, infrastructure, models and applications.<\/p>\n “As we’re growing hundreds of billions of dollars at a time, we have to support our supply chain so that they are able to support our growth,” he said.<\/p>\n However, Huang also admitted the company has “largely conceded” China’s AI chip market to Huawei, underscoring how U.S. export restrictions have accelerated Beijing’s drive for semiconductor self\u2011sufficiency.<\/p>\n Even so, investors\u00a0seemed eager to have their share of this AI cake,\u00a0especially in Asia as tech stocks surged in the region.<\/p>\n Softbank spiked\u00a0a whopping 20%<\/a>, with other key suppliers such as Taiwan’s TSMC, South Korea’s SK Hynix and Japan’s Renesas Electronics making gains.<\/p>\n Samsung Electronics also climbed<\/a>, helped by the last-minute suspension of a strike from the company’s union, as government officials stepped in to head off the walkout.<\/p>\n Elsewhere, Elon Musk’s SpaceX is set to be\u00a0the first in a hat-trick of mega IPOs<\/a>\u00a0this year, followed by OpenAI and Anthropic. Musk merged SpaceX with xAI in February, creating a\u00a0combined entity<\/a>\u00a0that he valued at $1.25 trillion.<\/p>\n Away from the tech world, the U.K. on Wednesday\u00a0unveiled a “historic” trade deal<\/a>\u00a0with the Gulf states that marks the first such agreement among G7 nations.<\/p>\n London expects this to boost the U.K. economy by an estimated \u00a33.7 billion ($4.9 billion) every year, and you can find out more on CNBC later today, with our interview with Gulf Cooperation Council chair Abdulla bin Adel Fakhro on the deal.<\/p>\n For Nvidia, the AI industry may be a five\u2011layer cake. For investors, the appetite for tech looks insatiable, even if some slices, like China, are off the menu.<\/p>\n \u2014 Lim Hui Jie, Leonie Kidd<\/p>\n And finally…<\/p>\n UAE fast tracks second West-East oil pipeline to bypass Strait of Hormuz<\/a><\/p>\n Abu Dhabi is accelerating construction of the new West-East pipeline to Fujairah as it looks to expand its oil export capacity and bypass the Strait of Hormuz chokepoint.<\/p>\n The project, expected to come online in 2027, will double the Abu Dhabi National Oil Company’s (ADNOC) export capacity.<\/p>\n The second pipeline project comes as global energy supplies\u00a0remain under pressure<\/a>, flows through the Strait of Hormuz are\u00a0severely limited<\/a>, and repeated attacks on energy infrastructure and shipping have curtailed the UAE’s ability to restore normal output.<\/p>\n