Nvidia’s latest earnings confirm that the global AI deployment is only accelerating, with a 73% year-over-year Q4 revenue increase to $68.1 billion and $215.9 billion in revenue for the full fiscal year. Data Center revenue increases 75% to $62.3 billion, and $41.1 billion is returned to shareholders while the company’s guidance remains aggressive, forecasting Q1 revenue of $78 billion despite assuming zero Data Center compute revenue from China. CEO Jensen Huang has defined this moment as the "agentic AI inflection point", noting that enterprise adoption of autonomous agents is skyrocketing as customers invest in the "AI factories" of a new industrial revolution. By positioning the Grace Blackwell and NVLink architecture as the "king of inference" for cost-efficiency, Huang is also refuting fears of a "SaaSpocalypse"; he argues that rather than replacing software, agents actually operationalise it by turning systems like CRMs and ERPs into always-on toolchains for machine-scale work. Ultimately, the shift toward highly capable agents means more frequent interactions with systems of record, transforming a perceived threat into a massive use case boom for both the software stack and the Nvidia compute powering it.

EQUITY

Even when a giant like Nvidia delivers blockbuster results, investors can still find reasons to hit the sell button, dragging the broader market. However, Netflix managed to buck the trend by gaining 9% after walking away from an expensive bidding war for Warner Bros. Discovery, while Jack Dorsey's Block Inc. saw its shares soar 20% on the news of massive workforce reductions.

GOLD

Gold prices are kept well below $5,200, positioning the metal for its fourth consecutive weekly gain as investors balanced safe-haven demand against a stronger U.S. dollar. Bullion found significant support from renewed inflation fears following the administration’s imposition of a 10% global tariff, though upside potential remained capped by sticky 3% PCE inflation.

OIL

While crude oil prices have pulled back following the extension of US-Iran nuclear talks, the market remains volatile due to a geopolitical risk premium of $8–$10 per barrel from a US military build-up. Although technical discussions continue in Vienna, constant tensions and the threat of supply disruptions through the Strait of Hormuz have kept traders in a cautious "wait-and-see" mode. To mitigate these risks, OPEC+ and Saudi Arabia are preparing production increases to cushion the global supply against any potential conflict-driven shocks.

CURRENCY

The US dollar rebounded on labour market strength and hawkish sentiment, even as analysts eye potential long-term weakness due to shifting interest rate expectations and new tariff structures. Meanwhile, the Japanese yen grew on hawkish signals from Bank of Japan officials, while the Chinese yuan’s rally was halted by central bank intervention.