NVIDIA, Chips, and a $5.5T Earnings Test

The Week's Biggest Event

All eyes land on NVDA Wednesday after the close. The chip giant carries a $5.5 trillion market cap. Investors want answers on AI demand and data centre momentum. Alongside NVIDIA, ADI and retailers TGT and LOW also report mid-week. Tonight, PGR kicks things off with after-hours results.

Chips Drive Options and M&A Buzz

The semiconductor sector is moving on multiple fronts. Bloomberg reports that AI chip startup Tenstorrent has drawn takeover interest from INTC and QCOM. That has energised call activity across the sector. Intel is up nearly 195% year-to-date. Micron has rallied 154%. Options flow is heavily bullish on both names. On the flip side, bears are writing large negative bets on NVDA, TSLA, and AMD ahead of earnings.

Short Sellers and Insider Signals

Wolfspeed saw its short interest spike to 107% of free float. That's up 36 points in a single week. Zero shares remain available to borrow. Meanwhile, Bill Gates filed over $93M in purchases of Republic Services between May 11–13. Five insiders at Colliers International bought simultaneously. General Atlantic filed $49M in Alkami Technology purchases. The insider cluster signals are unusually strong this week.

Analysts Move on Pharma and Fertilizers

CF Industries picked up an upgrade with the consensus target rising to $125.47. Regeneron saw its target cut by nearly $28 to $839.81. Boston Scientific remains a Wall Street favourite with 30 buy ratings and no sells despite a minor target trim.