Happy Wednesday! AI infrastructure and chipmakers were pushing the S&P 500 to an 11-day high as markets braced for Nvidia earnings. The chip maker posted another across the line beat, and slightly climbed after hours, as if the whole world was still waiting for them to report.

The high tide pulled everything higher, including even Bitcoin and allll the crypto stocks that have felt the pain recently. The tech sector led the whole market.

In macro news, the State of the Union went by as most expected, though outside of political virtue signaling and hockey celebrating, the President said he would try and convince his friends at the AI labs to turn down their huge electrical consumption, and sign a pledge that said they would respect quiet hours in the common room. Here’s to hoping that comes true, these snow storms are running up the heating bill. ❄

$NVDA ( ▲ 1.41% ) Earnings 🚨

▪ EPS $1.76 Beats $1.53 Estimate, $1.62 Adj. eps reported.

▪ Revenue $68B Beats $66.1B Estimate

▪Data center rev. $62.2B

Proving Ground: The AI infrastructure juggernaut just delivered its 14th consecutive earnings beat, and the numbers left no room for debate. $NVDA posted $68B in revenue — a ~70% jump year-over-year, with Data Center alone printing $62.3B, proving Blackwell demand is exactly as advertised. The company said there was still NO China data center revenue recorded in sales or revenue.

The Blackwell architecture delivered. Jensen Huang called demand "off the charts and sold out.” Any lingering skepticism about TSMC supply constraints easing got a clean answer tonight.

“Grace Blackwell with NVLink is the king of inference today, delivering an order-of-magnitude lower cost per token, and Vera Rubin will extend that leadership even further,” Jensen Huang, founder and CEO of NVIDIA said. “Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute — the factories powering the AI industrial revolution and their future growth.”

The guidance is where the Bulls got their victory lap. Q1 FY27 revenue outlook of $76.4B–$79.56B crushed the Street's $71.7B estimate by at least $5B at the low end — a signal that the AI infrastructure ramp isn't plateauing, it's still compounding. The next-gen Rubin architecture remains the longer-dated catalyst, with Goldman Sachs maintaining a Buy and $250 price target while flagging that further upside hinges on 2027 revenue visibility.

Speaking on the firms earnigns call streamed to Stocktwits, Huang said the team recently celebrated the OpenAI ChatGPT codex launch, trained on and using Blackwell chips. He also mentioned Meta super intelligence labs, announcing last week the deployment of millions of Blackwel chips. He also highlighted the firm’s partnership with Anthropic, and investment in the firm, helped realize the “chatgpt moment" for agentic models.

Huang also took the time to announce an exclusive licensing agreement with Grok at XAI. He said they will extend nvidia archetecture with the Grok team and their innovations, with more to come on the partnership at the GPU Tech Conference coming March 16th. 👀

As the market started to price in yet another beat, the stock was barely climbing.

At State of the Union, the President said big tech has to pay it's fair share… of the electric bill.

During Tuesday's State of the Union, Trump rolled out a "ratepayer protection pledge" requiring AI data center operators to fund their own electricity Hyperscalers are lining up to sign. Amazon, Google, Meta, Microsoft, xAI, Oracle, and OpenAI will meet next month to formalize the agreement at a White House meeting on March 4, a White House official confirmed told CNBC.

What’ the Big Deal?: Power demand from U.S. data centers doubled between 2018 and 2024 and could triple by 2028, per the Lawrence Berkeley National Lab. Capacity prices at the country’s largest provider exploded in the past twelve months, from $28.92 per megawatt-day, to an expected $329.17 in 2026-2027. Average retail electricity hit $0.1724/kWh in December, up roughly 6% year-over-year, according to Yahoo Finance.

The pledge is a political pressure valve. Trump promised to cut electricity bills in half on the campaign trail — instead, prices surged. New Jersey and Virginia governors both flipped against Republican opponents last November, and I can attest Mikie Sherril ran on the cost of living and energy here in NJ. Energy Secretary Chris Wright framed it plainly: communities won't welcome data centers unless hyperscalers front the grid investment themselves.

The Outlook: Microsoft, OpenAI, and Anthropic had already made independent pledges before Tuesday — so for the biggest players, this formalizes what was already happening. And what was happening is the prices go up. The harder question is enforcement: details remain sparse, and "bringing your own power" means different things depending on whether you're running a four family home, vs. running a datacenter hivemind.⚡

Agentforce Finally Prints Money: Salesforce delivered its fastest revenue growth in two years “as agentic AI stopped being a buzzword and started being a revenue line,” is what an AI wrote, but I, a human person, will tell you $CRM ( ▲ 3.41% ) dropped 5% after hours despite the beat.

In the ‘why can’t AI replace this' software world, bloated and expensive CRM subscriptions are a prime target. FY27 guidance came in just shy of Wall Street's bar. Agentforce accounts in production jumped nearly 50% quarter-over-quarter still. Management initiated FY27 guidance of $45.8B–$46.2B and raised its buyback authorization to $50B, and analysts called current prices a bargain, but everyone sold. 🤖

Snow Finally Sticks: After multiple quarters of beating estimates only to watch the stock crater, Snowflake delivered the clean acceleration print skeptics needed. Until the stock sortof... cratered. The 30% product revenue growth, a 25.93% EPS surprise, and a record $400M customer deal, sent $SNOW ( ▲ 5.06% ) falling after hours. Management argued AI workloads are no longer narrative — they're driving measurable consumption at scale. FY27 guidance came in with 27% product revenue growth with a 12.5% non-GAAP operating margin target, the first time in recent memory guidance didn't disappoint. ❄️

Zoom's Quiet Glow-Up Continues: Zoom beat on both top and bottom lines and guided for its first $5B revenue year, and the stock fell. $ZM posted $1.51 non-GAAP EPS against a $1.48 estimate and revenue of $1.247B up 5.3% year-over-year. Zoom Phone crossed 10 million paid seats and Zoom Contact Center doubled its enterprise customer base to over 1,100 accounts. Shares dipped slightly after hours on a revenue miss versus the $1.27B consensus, a reminder that growing at 5% in a market that wants 25% is a hard sell no matter how clean the execution. 📞

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

Macro: Continuing Jobless Claims (8:30 AM ET), FOMC Member Bowman Speaks (10:00 AM ET), BOND 7Y (1:00 PM ET), Fed's Balance Sheet (4:30 PM ET). 📊

Pre-Market Earnings: $NVAX, $BIDU, $AUPH, $MNKD, $LKNCY, $PENN, $BCRX, $IQ, $CELH, $TGTX, $AKBA, $EOSE, $SHAK, $BKSY, $VST, $WBD, $DNUT, ☀️

After-Market Earnings: $MARA, $NVAX, $XYZ, $CLOV, $CRM, $RKT, $SOUN, $RKLB, $CRWV, $MP, $OPK, $WULF, $RUN 🌙

P.S. You can listen to all of these earnings calls on Stocktwits.

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