The Market Today
Monday's session delivered one of the cleanest reversals of the summer. The S&P 500 surged 1.48pct to 7,600.50 after President Trump called off planned U.S. strikes on Iran, sending oil lower and tech stocks sharply higher. Amazon crossed $3 trillion in market cap for the first time. Nvidia, Meta, Alphabet, and Microsoft all posted strong gains. S&P 500 futures are up 0.21pct early Tuesday, with Polymarket assigning a 77pct probability to a higher open. Bitcoin (BTC) trades at $63,894, up 0.40pct on the day, stabilizing after the weekend Coldcard wallet hack and MicroStrategy's disclosure that it sold 1,638 BTC at an average of $63,957, well below its own $75,419 cost basis. The 10-year Treasury holds near 4.70pct, and Non-Farm Payrolls on Friday (Aug 7, consensus 110K) is the next major macro catalyst. Among the 2,368 AI infrastructure companies StartupHub.ai tracks, GPU compute remains the single largest cost line, a structural tailwind that keeps showing up in NVIDIA's numbers quarter after quarter.
Existing Positions
NVIDIA Corp. (NASDAQ:NVDA), HOLD
NVDA surged 6.97pct to $210.71 today, reclaiming the $210 level that had capped the stock since late July. My 36 shares at avg cost $215.76 now sit at -2.34pct unrealized, closing fast on breakeven. The thesis, that AI demand is structural, not cyclical, played out exactly as expected. Q1 FY2027 delivered record revenue of $81.6 billion (85pct YoY), with data center at $75.2B representing 92pct of total revenue. Operating cash flow reached $50.3 billion. NVIDIA also authorized an $80 billion share buyback and raised its quarterly dividend to $0.25. Next technical resistance sits at $217.99 then $224.37, with the 100-period EMA at $203.57 now acting as support. The $250B OpenAI financing backstop headline remains an overhang, but today's tape made clear the market is looking through it. Holding every share ahead of August 26 earnings, where Q2 consensus sits at $91 billion.