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5 Top Stories

JinkoSolar Rises on Possible Price War Curbs

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Nvidia Declares 10-for-one Stock Split

AI chip king Nvidia [NVDA] has announced a 10-for-one stock split as it looks to capitalise on investor appetite for generative AI stocks. Revenue and EPS for Q1 soared 262% and 629% year-over-year, respectively, driven by 427% growth in its data centre business amid demand for its Grace Hopper platform. Shipments of the chip’s successor Blackwell are starting this quarter and will ramp up in Q3. “We are poised for our next wave of growth,” said CEO Jensen Huang in the earnings release.

News Corp and OpenAI Strike AI Training Content Deal

Wall Street Journal-owner News Corp [NWS] has agreed to a content deal with OpenAI, which will train its large language model on all content from across News Corp’s websites. OpenAI CEO Sam Altman said, “Together, we are setting the foundation for a future where AI deeply respects, enhances and upholds the standards of world-class journalism”. Artificial intelligence (AI) could be used to spread misinformation in the run-up to the US elections, so the Federal Communications Commission is said to be considering requiring disclosure for AI-generated political ads.

Lenovo Leads PC Shipments by Market Share

China’s Lenovo’s [0992:HK] PC demand is rebounding. Shipments for January–March were up 7.8%, according to IDC data, which also showed Lenovo having the biggest market share in Q1, at 23%. The computer company shipped its first wave of AI PCs, it said in its Q4 release on Thursday, and expects the products to “gradually grow from premium to mainstream over the next three years”.

Biotechs Spike on Reported Bird Flu Cases

Human cases of bird flu discovered in the US and Australia have caused biotech stocks including Moderna [MRNA] and CureVac [CVAC] to spike on Wednesday. While the risk of contracting the virus is low, scientists are concerned that it could eventually transmit from human to human. If this were to happen then there’d be a race to produce suitable vaccines. Moderna is conducting a phase-two trial of candidates that could be adapted to target H5N1, while CureVac launched a bird flu vaccine study with GSK [GSK] in April.

China Considering Solar Price War Crackdown

Shares in JinkoSolar [JKS] soared 17% on Thursday as news emerged that Beijing officials want to tackle the solar slump by cracking down on companies that are undercutting their competitors by selling equipment and panels at cheaper prices. “It is better to solve the current industry difficulties through market-oriented means,” wrote the China Photovoltaic Industry Association in a WeChat post, reported Bloomberg.

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