Shein swings to quarterly loss: Chinese e-commerce giant Shein dipped to a $99M Q1 loss from a $395M profit due to the closure of a tariff exemption. The company is preparing for a Hong Kong IPO. Source: BBC.
Nvidia weighs $250B OpenAI backstop: Nvidia (NVDA) is in talks to guarantee roughly $250B of financing for OpenAI to lease a 10-GW Ohio data center that could cost over $500B, potentially locking in major AI chip demand. Shares rose 1% premarket. Source: WSJ.
United explored Delta merger: United (UAL) approached Delta (DAL) last year about combining the two carriers, but talks did not advance. A deal would have merged the two most valuable U.S. airlines. Shares of each company rose 3-4% premarket. Source: WSJ.
Starship's winning test flight: SpaceX (SPCX) completed a successful Starship test, deploying 20 satellites and landing its upper stage intact for the first time ever. Still, shares sank 2.7%. Source: NY Times.
AstraZeneca's profit climbs: AstraZeneca (AZN) posted adjusted EPS of $2.63, up 21% YoY and above estimates, as demand for cancer drugs surged. It maintained its annual outlook, with shares up 1.7% premarket. Source: Bloomberg.
Apple, Micron clash over Chinese chips: Apple (AAPL) is lobbying the Trump admin. to allow Chinese memory chips in products sold outside the U.S., while Micron (MU) warned that the move could undermine domestic chip production. Micron fell 7% on Friday but climbed 2% premarket. Source: WSJ.
Paramount delays WBD takeover: Paramount (PSKY) agreed to postpone its Warner Bros. Discovery (WBD) takeover until an antitrust trial or June 1, 2027, whichever comes first. The setback could trigger quarterly fees to WBD shareholders after Sept. 30, with Paramount down 3.3% on the news. Source: CNN.
BREAKING: Nvidia launches Open Secure AI Alliance, partnering with Palantir, IBM, CrowdStrike, SpaceX and Hugging Face to strengthen open-source AI security.