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Nvidia heads into Wednesday's earnings call carrying the weight of the entire AI trade on its back. J.P. Morgan analysts say the key watchpoints are not just the numbers but management's commentary on competitive positioning, business agreements, and memory supply. Investors want reassurance that Nvidia's dominance holds as rivals close ground.
Shifting to the broader AI landscape, Sam Altman is walking back his own timeline. The OpenAI chief now admits he was too ambitious about how quickly the economy would absorb artificial intelligence, acknowledging that much of the software business he once considered up for grabs has proven more resistant to disruption than he anticipated. He calls the slower pace a positive in many ways.
And in the Middle East, the Fed has competition for market-moving influence — and it's losing. A Dubai-based trading executive tells Fortune that President Trump's public statements are generating faster and larger retail trading responses than Federal Reserve decisions or major U.S. economic data releases. UAE investors are reportedly placing bigger bets in near real-time the moment Trump speaks.
That's the tape. Markets Desk, signing off the floor.
