01 Stock Market
U.S. stock futures rose on Friday as traders eyed developments between the U.S. and Iran. They also looked ahead to the release of April’s jobs report.
S&P 500 futures and Nasdaq 100 futures were up about 0.5% and 0.8%, respectively. Futures tied to the Dow Jones Industrial Average rose 162 points, or 0.3%.
Notable Stock Movers: TSLA up 1.42% at $417.65 after upbeat electric-vehicle demand signals. NVDA up 0.97% at $213.55 as investors digest fresh data-center partnership news. Memory leader MU up 2.69% at $664.02 on optimism about pricing trends. Leveraged semiconductor fund SOXL up 5.36% at $160.25 tracked broad chip-sector strength, while cloud-infrastructure player CRWV down 7.29% at $119.45 following a higher capital-expenditure outlook.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.45%, to 4.37%.
• U.S. Dollar Index fell 0.30% to 97.95.
• WTI crude oil futures fell 0.27% to 94.55 USD/barrel; COMEX gold futures rose 0.48% to 4733.60 USD/ounce.
03 Key News
IREN Jumps 13%, Inks Five-Year $3.4B AI Cloud Deal with Nvidia
IREN (IREN) secured a five-year AI cloud services contract worth about $3.4B with Nvidia (NVDA) to provide managed GPU cloud services for the chipmaker’s internal AI and research workloads.
The agreement will use air-cooled Blackwell systems deployed across around 60MW of IREN’s existing data center capacity at its Childress, Texas campus.
The stock price gained about 13% in premarket trading. Meanwhile, its fiscal Q3 revenue missed the average analyst estimate as the average price of bitcoin declined.
Anthropic Weighs Fundraising for near $1 Trillion Valuation, FT Reports
Anthropic is weighing raising tens of billions of dollars this summer to fund a major expansion in computing capacity, a move that could lift its valuation to nearly $1 trillion and put it ahead of rival OpenAI, the Financial Times reported on Friday.
SK Hynix Flooded with Unprecedented Offers from Big Tech Firms to Secure Chip Supplies
SK Hynix is being aggressively courted by big global tech firms with offers to invest in its new production lines and fund purchases of pricey manufacturing tools as they rush to secure memory chips, people familiar with the matter said.
The offers, unprecedented in the global memory chip industry, underscore the severity of the component's scarcity around the world, as chipmakers struggle to keep pace with surging demand amid an artificial intelligence boom. Memory chips are critical parts in AI data centers, smartphones, PCs and other areas.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.