The AI trade needs saving -- bring out the big guns.
They don't come much bigger than Elon Musk, Jensen Huang, and Mark Zuckerberg. Will the heavyweight trio be enough? So far, so good, anyway.
SpaceX's earnings contained bullish signs everywhere you looked. Musk even said the company was "hounded relentlessly by every hyperscaler" and dozens of companies to rent more of its computing power.
Super Micro Computer did its bit, too. The AI server maker hiked revenue guidance in a signal of surging demand. Nvidia's Jensen Huang never misses an opportunity to talk up AI, and his speech in Berlin this morning was no exception.
Outside of SpaceX and Super Micro, though, the moves were more modest. Micron, Intel and others were rising around 2%. That's obviously better than the brutal selloff of late but it feels like the market is holding back a bit.
Tesla reports earnings later, but the next catalyst is likely to be results after the close from Meta Platforms. If Meta delivers, then the AI rebound really is on.