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March 25, 2026

March 25, 2026 – Wall Street Trades War Premium for Peace Hopes as Oil Finally Behaves -( $ASTS $EPRX $MCD $MODD $MTWO $NOK $NVDA $PL $RKLB $SER $TSLA Rise!)

U.S. stocks extended their relief rally on Wednesday, as Wall Street decided that a 15-point peace plan beats a $115 oil quote almost every time.

Indexes Rebound as War Premium Bleeds Out

Major indexes climbed after reports that Washington had sent Tehran a detailed 15‑point framework aimed at ending the Iran war, signaling a potential turn in one of the market’s biggest risk overhangs. The Dow Jones Industrial Average advanced roughly a three hundred points (+.66%), the S&P 500 posted a solid +.54% gain, and the Nasdaq led the charge with a +.77% gain as traders rotated back into growth and cyclicals that had been punished by weeks of geopolitical stress. Futures had already pointed higher on the headlines, but the follow‑through into the cash session suggested the rally was more than just an algorithmic sugar high.

Oil Breaks Lower, Inflation Fears Take a Breather

Crude oil, the market’s recent main character, finally ceded the spotlight as prices fell sharply on de‑escalation hopes. West Texas Intermediate futures slid about 5%–6% toward the high‑$80s, while Brent retreated roughly the same magnitude to the mid‑$90s, shaving off a chunk of the “war premium” built up over the past month. For equity investors, cheaper crude is a two‑for‑one special: a little less pressure on corporate margins and a little less urgency for the Federal Reserve to lean hawkish if energy‑driven inflation stays contained.

Sector Winners: Tech, Industrials, and the “Peace Trade”

The day’s leadership board read like a checklist of assets that hate existential risk and love lower input costs.

  • Technology: Mega‑cap tech and AI‑linked names bounced as volatility cooled and discount‑rate fears eased, helping drive the Nasdaq’s outperformance and restoring some of the swagger lost during the recent oil spike.
  • Industrials and cyclicals: Machinery, transportation, and other global‑growth bellwethers attracted fresh bids as investors reassessed worst‑case scenarios for trade routes and energy supply.bloomberg+2
  • Space and satellites: Speculation around a potential SpaceX IPO kept space‑adjacent names such as Rocket Lab, (RKLB, $72.88, +10.31%) Planet Labs (PL, $35.37, +11.12%), and AST SpaceMobile (ASTS, $96.06, +10.44%) in the green, adding a bit of sci‑fi gloss to the broader “risk back on” tone.

In short, anything that benefits from calmer credit conditions and a functioning global supply chain found buyers again.

Energy and Defense: From Front Row to Price Check

Even as benchmarks rallied, some of the prior week’s darlings looked a bit less invincible.

  • Energy: Integrated majors and oil‑levered producers cooled as crude backed off its highs, though analysts cautioned that the underlying supply picture—Hormuz chokepoint, regional troop levels, and Iranian proxies—still argues for a healthy volatility premium.
  • Defense and security: Defense contractors held up but lost some momentum, reflecting a subtle shift from “all‑gas, no‑brakes” rearmament trades toward a more nuanced read on how a negotiated endgame might affect spending trajectories.

For portfolio managers, the message was less “abandon the hedges” and more “reprice the tail risk,” as war scenarios moved from open‑ended escalation toward something that at least has a draft roadmap.

The Iran Peace Plan: Markets Trade the Draft, Not the Footnotes

The catalyst for the move was reporting that the U.S. has floated a 15‑point proposal to Iran, delivered via Pakistan, that addresses missile activity, nuclear constraints, and oil‑route security in and around the Strait of Hormuz. President Donald Trump, who earlier this week ordered a five‑day pause on strikes against Iranian infrastructure after what he called “productive” talks, has framed the effort as a path to a broader regional reset, even as Iranian officials publicly insist formal negotiations are not underway.

That split‑screen narrative—Washington promising progress, Tehran playing down talks—has not stopped markets from marking down the war premium in oil and marking up assets that had priced in a grinding conflict. As one could paraphrase the trading floor mood: if geopolitics insists on being messy, investors will still happily trade any hint of structure.

Mega‑Caps Regain Their Poise

In mega‑cap land, the tone swung back toward “default setting: up,” as investors revisited the logic that dominant balance sheets and structural growth stories tend to outlast episodic macro noise. Big Tech and platform names saw steady buying as index funds, systematic strategies, and old‑fashioned stock pickers all leaned into the same conclusion: a little less geopolitical risk plus a little less oil shock equals a slightly friendlier discount rate for long‑duration earnings.

Meanwhile, cash‑rich blue chips in healthcare, consumer, and communications benefited from a broad beta bid, even if they ceded the spotlight to higher‑octane growth and cyclicals. The market did not suddenly forget about valuations or policy risk, but it did decide that today was not the day to price the end of the world.

VP Watchlist Updates

Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.

Serina Therapeutics (NYSE: SER, $3.03, +24.69%)

Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.

What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.

AleAnna, Inc. (ANNA)

AleAnna, Inc. (ANNA, $6.97) just turned a dry technical milestone—its year‑end reserves report—into something closer to an Italian energy renaissance, with proved natural gas reserves jumping 47% after a year of active production. For investors hunting for credible growth stories in a world of energy-transition buzzwords, this is one of the rare cases where the molecules are actually catching up to the marketing. Learn more here.

Eupraxia Pharmaceuticals (EPRX, $7.08, +2.76%)

Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”

Modular Medical (MODD $.1872, +9.35%)

GeoVax Labs (GOVX, $1.50)

The InterGroup Corporation (INTG, $35.90)

  • InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.

Volato Group, Inc. (SOAR, $.2758, +.80%) & M2i Global, Inc. (MTWO, +12.27%)

  • Volato Group, Inc. announced (March 10) that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
  • Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
  • On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.

NVIDIA (NVDA, $178.68, +1.99%) (NOK, $8.41, +1.94%)

  • In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
  • Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
  • NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.

McDonald’s (MCD, $311.70, +1.25%)

  • In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $5.10)

Tesla (TSLA, $385.95, +.76%)

Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.

The Sources

Here’s a clean, numbered list of key sources with links you can reference or publish:

  1. Yahoo Finance – “Dow, S&P 500, Nasdaq jump amid hopes of US-Iran talks, oil falls below $100”
    https://sg.finance.yahoo.com/news/stock-market-today-dow-sp-500-nasdaq-jump-amid-hopes-of-us-iran-talks-oil-falls-below-100-1331finance.yahoo
  2. Yahoo Finance – “The S&P 500 Rips 1% Higher On Hope For Iran Peace Negotiations and Oil Falls Below Critical $100 Barrel Line”
    https://finance.yahoo.com/markets/stocks/articles/p-500-rips-1-higher-134953148.htmlfinance.yahoo
  3. Yahoo Finance / AP – “Stocks rise and oil prices ease as Wall Street keeps yo-yoing on hopes of U.S.-Iran talks”
    https://ca.finance.yahoo.com/news/oil-falls-more-5-asian-041850637.htmlfinance.yahoo
  4. Investopedia – “Stock Market Today: Major Indexes End Higher, Oil Prices Slip After U.S. Sends Iran 15-Point Plan”
    https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-03252026-11933887investopedia
  5. BNN Bloomberg – “Markets today: Stocks, oil jump on hope of Iran war end”
    https://www.bnnbloomberg.ca/markets/2026/03/25/stocks-jump-and-oil-eases-as-wall-streets-see-saw-swings-back-to-hope-for-an-end-bnnbloomberg
  6. AP News – “Stocks and oil prices keep yo-yoing on uncertainty about Iran war and ceasefire talks”
    https://apnews.com/article/stock-markets-trump-iran-oil-826e691e2fd93a63ac8ec8ed98924a17apnews
  7. Yahoo Finance – “Dow, S&P 500, Nasdaq slide as Iran war drags on, oil rebounds” (prior-day context)
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-slide-as-iran-war-drags-on-oil-rebounds-200113329.htmlfinance.yahoo
  8. Bloomberg – “Stocks Rise, Oil Falls as Truce Prospects Weighed: Markets Wrap”
    https://www.bloomberg.com/news/articles/2026-03-24/stock-market-today-dow-s-p-live-updatesbloomberg
  9. YouTube – Bloomberg – “US Drafts Plan to End Iran War; Stocks Rise, Oil Slips”
    https://www.youtube.com/watch?v=S2id3qa9Vi4youtube
  10. Seeking Alpha – “U.S. reportedly has a plan to end the Iran war”
    https://seekingalpha.com/news/4568250-u-s-reportedly-has-a-plan-to-end-iran-war-according-to-ny-timesseekingalpha

March 25, 2026

Eupraxia’s EP-104 Is Quietly Auditioning for a Starring Role In Eosinophilic Esophagitis -( $EPRX $SNY $TAK $IBB $XBI )

Yes indeed, Eupraxia Pharmaceutical’s (NASDAQ: EPRX) EP-104 is quietly auditioning for a starring role in eosinophilic esophagitis—and for once, the gastroenterologist, the allergist, and the payer might actually clap at the same time.

A Chronic Disease Finally Meets a Long-Term Plan

Eosinophilic esophagitis (EoE) has matured from “zebra” to mainstream GI diagnosis, with roughly 500,000 known U.S. cases and credible arguments that the real number is closer to one million. Emergency room data showing hundreds of thousands of young men with classic symptoms but no code in the chart suggest the epidemiology is still catching up to reality. As awareness grows, experts expect the pool of diagnosed patients to double or even triple over the next 5–10 years, turning EoE from niche to necessary line item on every GI group’s strategic plan. For now, diagnosis still requires endoscopy with biopsy—there is no non-endoscopic shortcut—cementing the procedure suite as both the diagnostic and, increasingly, therapeutic center of gravity.

Today’s EoE Playbook: Effective, Fragmented, and Tiring

Modern EoE care offers an impressive menu, with three first-line strategies all considered reasonable at the opening whistle: diet, proton pump inhibitors (PPIs), and topical steroids. Elimination diets work but demand commitment: dairy alone converts about 35–40% of patients, dairy plus wheat nudges response toward 40–45%, and full six-food regimens can push efficacy to roughly 60%, at the cost of a social life built around ingredient lists. PPIs deliver a 30–40% histologic response in EoE—not because they neutralize acid, but because they act as anti-inflammatory agents upstream in the cascade. Swallowed topical steroids, often adapted from asthma formulations, reliably produce 50–60% histologic responses but require meticulous daily technique most teenagers abandon after about three good weeks.

Regulatory-grade options are finally here as well: Takeda’s (NYSE: TAK) Eohilia, an FDA‑approved budesonide oral suspension, delivered around a 53% histologic response over 12 weeks with measurable improvements in Dysphagia Symptom Questionnaire scores. In Europe, Canada, and Australia, the budesonide tablet Jorveza posts 80–90% symptom response and 50–60% histologic response, illustrating what a purpose-built esophageal steroid can do when it doesn’t rush through the esophagus in a few seconds.

The Biologic Era: Potent but Positioned Second

For patients who fail PPIs and often steroids, Sanofi’s (NASDAQ: SNY) massively marketed dupilumab (Dupixent) (~18.7B in sales in 2025) has reshaped the second-line conversation, with roughly 55–60% histologic response and sustained improvements in endoscopic and histologic scores through 52 weeks. In pivotal studies, all patients had already failed PPIs and most had failed steroids, underscoring that the drug is operating in a difficult, treatment-experienced population. Current practice and payer behavior largely reserve dupilumab for those who have exhausted simpler options, with earlier use mainly considered when multiple severe allergic comorbidities already justify biologic therapy. The irony, of course, is that the patients most allergic to everything often end up allergic to the stepwise logic of prior authorization as well.

Why EP-104 Looks Different

EP-104GI, Eupraxia’s long-acting fluticasone injectable, is explicitly designed to invert the rhythm of EoE care: one procedural moment, months of pharmacology. The drug consists of polymer‑coated fluticasone crystals injected into the esophageal wall, where they release steroid at a controlled rate with a low peak concentration and extended tail. The goal is straightforward but ambitious: at least six months of symptom control and histologic improvement from a single session, with emerging one‑year data suggesting that “annual maintenance endoscopy plus injection” is a realistic scenario in higher-dose cohorts. Early RESOLVE trial results show durable improvements in the EoE Histologic Scoring System (EoEHSS), with roughly 47% improvement in grade and 44% in stage at week 36 for patients receiving 4 mg per injection, alongside sustained clinical remission rates on the Straumann Dysphagia Index out to week 52.

Strategically, EP-104 is not going after the biologic‑heavy third‑line corner but the broad center of the market: newly or recently diagnosed patients for whom topical steroids are being considered, regardless of whether their disease is mild, moderate, or severe. Excluding the roughly one‑third of patients who respond adequately to PPIs, KOL estimates suggest 60–70% of the diagnosed EoE population could plausibly fit a long‑acting injectable steroid strategy—if the data hold in placebo‑controlled trials and payers accept the procedural economics.

The Histology Story: Beyond Just Killing Eosinophils

EP-104’s development program leans heavily on the EoE Histologic Scoring System, which grades and stages eight separate features including non‑eosinophilic inflammation, barrier disruption, fibrosis, and epithelial architecture. This is deliberate, because EoE’s natural history is stubborn: the disease does not spontaneously remit, and placebo effects on biopsy-based measures are typically minimal. Experience with eosinophil‑depleting biologics such as benralizumab and mepolizumab shows that driving eosinophils toward zero can yield impressive histologic counts without corresponding improvements in endoscopic appearance or symptoms, underscoring that eosinophils are the final effector step, not the command center. Broad anti‑inflammatory steroids that bathe the full inflammatory cascade, on the other hand, consistently correlate with better tissue remodeling and symptom trajectories even when eosinophil reduction is less dramatic. This is precisely the lane EP-104 is trying to occupy—only with the pharmacokinetics shifted from “twice a day” to “see you next endoscopy.”

Symptoms, Scores, and the Placebo Problem

If biopsies are refreshingly stoic, patient‑reported outcomes are anything but. Placebo response rates of roughly 40% for a 30% improvement threshold on dysphagia scales are common, as patients adjust eating behavior, expectations, and anxiety as much as their mucosa. EP-104’s early program used the Straumann Dysphagia Index but, aligning with FDA guidance and industry precedent from Eohilia and dupilumab, is pivoting to the Dysphagia Symptom Questionnaire (DSQ) for pivotal work. In prior large trials, active therapies have typically doubled the absolute DSQ improvement seen with placebo, with 7–14 point changes on the 0–84 scale for placebo arms and substantially larger shifts in treated groups. To preserve blinding in a procedural therapy, the phase 2B EP-104 study uses sham injections, ensuring that every patient undergoes endoscopy and injection maneuvers regardless of study arm—a design choice that may prevent the “I felt the needle, so I must be on drug” bias that would otherwise haunt the data.

Fibrosis, Dilation, and Remodeling the Esophagus

Roughly 15–20% of EoE patients live in the severe category, with daily symptoms, food impactions, emergency visits, and strictures that can resemble a straw more than an esophagus. Another 40% sit in the mild bucket and about 40% in the moderate range, but even in these groups, silent fibrosis can accumulate over years. The reassuring news is that fibrosis is not destiny: multiple treatment classes, including topical steroids and biologics, have demonstrated the ability to reverse fibrosis in both pediatric and adult cohorts, with EndoFLIP measurements documenting several‑millimeter increases in esophageal caliber after successful anti‑inflammatory therapy. Achieving histologic remission sharply reduces future dilation requirements and, when dilations are performed against a background of controlled inflammation, the resulting caliber gains tend to plateau rather than rapidly re‑narrow. For EP-104, which sits directly in the esophageal wall for months, the prospect of sustained anti‑fibrotic impact is central to the commercial narrative and will likely be scrutinized as closely as symptom scores in longer-term data cuts.

Logistics, Endoscopy Suites, and the Business of Better Care

From an implementation standpoint, EP-104 asks GI physicians to do something they already do, just in a new indication. Endoscopists routinely inject Botox for achalasia, epinephrine for bleeding, and triamcinolone for refractory strictures; adding a few esophageal wall injections during a standard 10–15 minute upper endoscopy is more evolution than revolution. The EP-104 procedure adds roughly 10 minutes and introduces a more complex, higher‑value billing profile, which in most U.S. practice models is an argument in favor of adoption rather than a barrier. The comparison that may quietly sell the concept in the physician’s lounge is triamcinolone: aqueous steroid injections currently wash out within days, missing the crucial seven-plus‑day window required for meaningful tissue remodeling, whereas EP-104 is purpose‑built to sit tight and work slowly. For practices that already see EoE patients annually for surveillance endoscopy, the idea of folding definitive steroid therapy into that same visit has a certain operational elegance.

Management models will differ: in some regions allergists “own” the patient and GI acts as procedural consultant, while in others gastroenterologists lead and allergists handle comorbid atopic disease. A long‑acting endoscopic therapy naturally pulls some gravity toward the endoscopy suite, but the highest‑functioning systems will likely land on genuine co‑management rather than turf wars, particularly given the high rate of overlapping asthma, atopic dermatitis, and food allergy in this population.

Market Scope Today and Tomorrow

If EP-104 ultimately secures a first‑line steroid label, its natural habitat would be the 60–70% of diagnosed EoE patients who either fail or prefer not to rely on PPIs and are candidates for topical steroids. With current U.S. prevalence around 500,000 diagnosed cases and a probable real prevalence near one million, a doubling or tripling of diagnosed patients over the coming decade would place the addressable pool comfortably into the high six to low seven figures. Against that backdrop, an annual or semi‑annual endoscopic injection strategy does not need every patient to sign up to be a meaningful business; it merely needs to become the standard play for a clearly defined segment that values convenience, durability, and procedural certainty.

Beyond EoE, the company and external experts have begun to sketch out a broader canvas that includes other inflammatory and fibrotic esophageal conditions and stricturing diseases elsewhere in the GI tract. There is currently no long‑acting steroid injection designed for the gastrointestinal tract, and clinicians already frequently inquire about adapting EP-104‑like approaches for refractory strictures, suggesting “many tens of thousands” of potential additional patients across indications if the platform proves modular. It is early, but the outlines of a procedural, steroid‑delivery franchise—not just a single EoE product—are visible.

The Next Readout: Data, Duration, and Definition of Success

The next major inflection point comes with placebo‑controlled phase 2B data, expected later this year, which will need to confirm not just histologic and endoscopic benefits but also a robust effect on DSQ scores in the face of a substantial placebo response. Simultaneously, ongoing follow‑up in higher‑dose cohorts should refine the real‑world redosing interval—whether six, nine, or twelve months becomes the standard, and whether annual “scope and inject” truly holds up as a durable regimen. If those pieces fall into place, EP-104 could reframe EoE care from a daily reminder of chronic disease to a scheduled procedure that most patients think about roughly as often as their car’s oil change.

For patients, the value proposition is disarmingly simple: swap a daily ritual of swallowing medicine that may or may not fit their life for a once‑or‑twice‑a‑year procedure that aligns with the way the disease is already monitored. For investors, the more interesting question is whether EP-104 becomes the default first‑line steroid in a rapidly expanding EoE market—or merely a high‑end option for a motivated subset of patients and physicians comfortable with procedural solutions.

The Sources

  1. EP-104GI RESOLVE Clinical Trial Overview (NCT05608681) – ClinicalTrials.gov
    https://clinicaltrials.gov/study/NCT05608681clinicaltrials
  2. EP-104GI Long-Acting Fluticasone Injectable in EoE – Eupraxia ISDE 2024 Poster (PDF)
    https://www.eupraxiapharmaceuticals.com/wp-content/uploads/2025/08/2024_09_10_ISDE-2024-EoE-poster_FINAL.pdfeupraxiapharmaceuticals
  3. EP-104GI Performs Well in Eosinophilic Esophagitis Trial – PatientWorth y Article
    https://patientworthy.com/2024/06/11/ep104gi-performs-well-eosinophilic-esophagitis-eoe-trial/patientworthy
  4. Eupraxia Announces Positive Data from RESOLVE Phase 1b/2a Trial – Press Release
    https://www.prnewswire.com/news-releases/eupraxia-pharmaceuticals-announces-positive-data-from-resolve-phase-1b2a-trial-of-ep-104gi-for-treatment-of-eosinophilic-esophagitis-301414725.htmlprnewswire
  5. Eupraxia Reports Near-Complete Biopsy Improvement in RESOLVE Trial – CheckOrphan
    https://checkorphan.org/news/eupraxia-reports-near-complete-biopsy-improvement-in-resolve-eosinophilic-esophagitis-trial/checkorphan
  6. Eupraxia Reports Six-Month Symptom Data from Highest-Dose Cohort – Yahoo Finance
    https://finance.yahoo.com/news/eupraxia-pharmaceuticals-reports-six-month-110000698.htmlfinance.yahoo
  7. Eupraxia EoE Trial Update – Clinical Trials Arena
    https://www.clinicaltrialsarena.com/news/eupraxia-eosinophilic-esophagitis-trial/clinicaltrialsarena
  8. FDA Approves EOHILIA (Budesonide Oral Suspension) for EoE – Takeda News
    https://www.takeda.com/newsroom/newsreleases/2024/fda-approves-eohilia/takeda
  9. EOHILIA (Budesonide Oral Suspension) Prescribing and Clinical Use Summary – Formulary Document
    https://fm.formularynavigator.com/FormularyNavigator/DocumentManager/Download?clientDocumentId=SEuoQkEHrUeMnZTlARTGDQformularynavigator
  10. EOHILIA (Budesonide) FDA Review Documentation (Other Review) – FDA
    https://www.accessdata.fda.gov/drugsatfda_docs/nda/2024/213976Orig1s000OtherR.pdfaccessdata.fda
  11. EOHILIA (Budesonide) FDA Label – FDA
    https://www.accessdata.fda.gov/drugsatfda_docs/label/2024/213976s000lbl.pdfaccessdata.fda
  12. Efficacy and Safety of Dupilumab up to 52 Weeks in Adults and Adolescents with EoE – PubMed / Lancet
    https://pubmed.ncbi.nlm.nih.gov/37660704/pubmed.ncbi.nlm.nih
  13. Dupilumab Improves Inflammatory and Remodeling Aspects of EoE: 52-Week LIBERTY EoE TREET Data (PDF) – Sanofi Medical Congress
    https://congress.sanofimedical.com/s3fs-public/2024-05/Dupilumab%20Improves%20Inflammatory%20and%20Remodeling%20Aspects%20of%20Eosinophilic%20Esophagitis%20-%2052-Week%20Results%20From%20the%20Phase%203%20LIBERTY%20EoE%20TREET%20Study.pdfcongress.sanofimedical
  14. Eupraxia Pharmaceuticals Reports Six-Month Symptom Data from RESOLVE Trial – Company Press Release
    https://www.biospace.com/press-releases/eupraxia-pharmaceuticals-reports-six-month-symptom-data-from-the-highest-dose-cohort-in-the-resolve-trial-in-eosinophilic-esophagitis.htmlbiospace
March 25, 2026

From Lab Bench to Stockpile Shelf: GeoVax’s GEO-MVA Aims for the Big Leagues -( $GOVX $IBB $XBI )

GeoVax’s (GOVX) latest update on its GEO-MVA program reads less like a small-cap press release and more like a biotech coming-of-age story, with Phase 3 now on the horizon and global health agencies finally circling the dance floor. For investors, the mpox/smallpox candidate is evolving from scientific footnote to potential revenue engine, backed by an accelerated European regulatory path and tangible manufacturing readiness.

GEO-MVA Steps Onto the Global Stage

GeoVax’s GEO-MVA, a Modified Vaccinia Ankara–based vaccine targeting mpox and smallpox, has emerged as the company’s priority program and relatively near-term commercial opportunity. Management is now actively engaging international health and preparedness agencies to explore future procurement, effectively auditioning GEO-MVA as a new cornerstone of pandemic readiness stockpiles.

What had long been a platform story is increasingly a product story, with GEO-MVA positioned as a diversification option in a market still dominated by a small number of approved MVA vaccines. In a sector where many development programs aspire merely to stay funded, GEO-MVA is now being discussed in the context of supply security and strategic reserves—polite biotech code for “this might actually sell something.”

A Shortcut Through Europe’s Regulatory Maze

The inflection point for GEO-MVA came when the European Medicines Agency (EMA) endorsed a streamlined route to licensure built around a single Phase 3 immunobridging study versus the approved MVA vaccine Imvanex. That scientific advice allows GeoVax to skip traditional Phase 1 and Phase 2 studies for this indication, compressing timelines and bringing GEO-MVA closer to commercial reality than many similarly sized peers.

Regulators concluded that demonstrating immune comparability to the licensed comparator would be sufficient to assess efficacy, effectively turning the Phase 3 trial into a high-stakes equivalence exam rather than a multi-year odyssey. For investors accustomed to binary, all-or-nothing pivotal trials, immunobridging offers a more defined, if still demanding, playbook.

From Vials to Value: Manufacturing Catches Up

Behind the regulatory narrative sits an unglamorous but critical milestone: GeoVax has completed fill-finish for the initial clinical batch of GEO-MVA, with product in final release testing ahead of Phase 3 deployment. That step moves GEO-MVA from theoretical capacity to tangible inventory, enabling trial start-up activities and reinforcing the company’s message that it is ready to support scaled clinical—and ultimately commercial—demand.

The company has repeatedly highlighted its manufacturing readiness as a strategic advantage in supplying diversified global mpox and smallpox vaccine stockpiles. In a world that learned the hard way that “just-in-time” and “pandemic preparedness” do not belong in the same sentence, a filled, finished, and releasable vaccine lot is the new form of boardroom credibility.

2026: Pivotal Year, Pivotal Optics

GeoVax has framed 2026 as a pivotal year in which GEO-MVA transitions from development asset to Phase 3 program, supported by both manufactured material and a clear regulatory script. The planned pivotal immunobridging trial, expected to begin in the second half of the year, will test not only immune responses but also the market’s appetite for a new player in a strategically sensitive category.

Sell-side commentary has started to acknowledge GEO-MVA as a potential long-term value driver, even as at least one firm has shifted to a more patient “Hold” stance while awaiting funding clarity and trial execution. For shareholders, that translates into a familiar equation: clinical catalysts ahead, financing questions still in view, but a much sharper line of sight to a registrational asset than this market typically offers at GeoVax’s scale.

Beyond Mpox: A Broader MVA Platform

While GEO-MVA commands the near-term spotlight, GeoVax continues to advance an MVA-based portfolio that includes GEO-CM04S1, a multi-antigen COVID-19 vaccine designed to generate robust T-cell responses and cross-variant protection. Preclinical work has shown this construct can deliver full protection in a lethal SARS-CoV-2 model even in the absence of neutralizing antibodies, underscoring the platform’s emphasis on cellular immunity and durability—features increasingly relevant for immunocompromised patients.

The company also maintains an oncology foothold with Gedeptin, an oncolytic gene-directed therapy that has completed a multicenter Phase 1/2 trial in advanced head and neck cancers. For a small-cap developer, the combination of a late-stage infectious disease program and a growing oncology portfolio offers a rare mix of defensive (stockpile) and offensive (tumor-targeting) optionality—an asset allocation strategy even a portfolio manager might admire.

The Sources


[1] GeoVax Initiates Outreach Regarding Future Procurement of GEO … https://finance.yahoo.com/news/geovax-initiates-outreach-regarding-future-130000548.html
[2] GeoVax Announces Completion of GEO-MVA Fill-Finish, Supporting … https://finance.yahoo.com/news/geovax-announces-completion-geo-mva-140000817.html
[3] GeoVax Receives Formal EMA Scientific Advice Supporting Pivotal … https://finance.yahoo.com/news/geovax-receives-formal-ema-scientific-140000816.html
[4] GeoVax Highlights 2026 as a Pivotal Year for Progress https://finance.yahoo.com/news/geovax-highlights-2026-pivotal-progress-140000892.html
[5] GeoVax Receives Formal EMA Scientific Advice Supporting Pivotal … https://www.geovax.com/investors/press-releases/geovax-receives-formal-ema-scientific-advice-supporting-pivotal-phase-3-immunobridging-trial-for-geo-mva
[6] GeoVax Announces European Society of Medicine Publication … https://finance.yahoo.com/news/geovax-announces-european-society-medicine-130000799.html
[7] GeoVax Endorses Global Call to Sustain Mpox Response as … https://finance.yahoo.com/news/geovax-endorses-global-call-sustain-140000287.html
[8] How The Story On GeoVax Labs (GOVX) Is Shifting Toward … https://finance.yahoo.com/news/story-geovax-labs-govx-shifting-170941780.html
[9] GeoVax Announces Completion of GEO-MVA Fill-Finish, Supporting … https://www.geovax.com/investors/press-releases/geovax-announces-completion-of-geo-mva-fill-finish-supporting-phase-3-immunobridging-clinical-trial-start-up-in-early-2026
[10] GeoVax Highlights 2026 as a Pivotal Year for Progress https://www.geovax.com/investors/press-releases/geovax-highlights-2026-as-a-pivotal-year-for-progress
[11] GeoVax Announces Publication of Study Demonstrating Cross … https://www.geovax.com/investors/press-releases/geovax-announces-publication-of-study-demonstrating-cross-variant-protection-using-the-multi-antigen-geo-cm04s1-vaccine
[12] Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1 … https://pmc.ncbi.nlm.nih.gov/articles/PMC12645453/
[13] The Wall Street Journal – Breaking News, Business, Financial & Economic News, World News and Video https://www.wsj.com
[14] A Synthetic MVA-based SARS-CoV-2 Vaccine, GEO-CM04S1, for … https://clinicaltrials.gov/study/NCT04639466
[15] Finance and Markets https://www.wsj.com/finance

March 25, 2026

Merck’s Nearly $6 Billion Terns Buyout Deal Signals Big Pharma’s Next Act in Cancer—and Obesity? -( $MRK $TERN $LLY $NVS $IBB $XBI )

Merck (MRK) is preparing to spend nearly $6 billion in cash to acquire Terns Pharmaceuticals (TERN), a move that reads like a carefully scripted sequel to its Keytruda blockbuster rather than an impulsive spin-off. The price represents a premium to Terns’ roughly $5.3 billion market value and instantly shifts the biotech from speculative favorite to strategic asset on Big Pharma’s main stage.

Investors have taken note: reports of advanced deal talks sent Terns shares sharply higher in recent sessions, as the market did what it does best—discount the future before the ink is even dry. For Merck, the transaction underlines a simple truth: when a franchise as large as Keytruda edges toward a 2028 patent cliff, standing still is the riskiest position in the portfolio.

Why Terns Matters More Than Its Ticker

Terns is not a household name, but its pipeline reads like a curated collection of high-conviction themes in modern drug development. At the center sits TERN-701, a small-molecule treatment in early-stage trials for chronic myeloid leukemia (CML), positioned as a potential rival to Novartis’s (NVS) Scemblix in a field where physicians appreciate targeted, oral options.

Alongside oncology, Terns has quietly built out a slate of metabolic candidates, including GIPR modulators and oral GLP-1–focused programs targeting obesity and related liver diseases such as NASH/MASH. That dual focus on cancer and obesity puts the company squarely at the crossroads of two of the highest-value therapeutic markets in healthcare, an intersection where Big Pharma rarely drives slowly.

The Deal Logic: Hedge the Cliff, Buy the Optionality

The strategic rationale is as old as pharmaceutical patent law but updated for the GLP-1 era. Keytruda, Merck’s immuno-oncology juggernaut, remains a revenue machine, yet its 2028 patent expiry has turned every early-stage transaction into a line item under “life after Keytruda” on investor scorecards. By paying a roughly mid-teens premium for Terns, Merck is effectively purchasing an options package on future oncology and metabolic cash flows, rather than waiting to overpay later for later-stage assets.

Critics will point out that TERN-701 is still in Phase 1/2 and competing against an entrenched player, making the risk-reward profile closer to a well-hedged call option than a guaranteed coupon. Yet, for a company with more than $65 billion in revenue and robust profitability metrics, absorbing early-stage risk in exchange for long-duration upside fits neatly within Merck’s capital allocation playbook.

The Pipeline Inside the Pipeline

The real intrigue may sit beyond TERN-701, in how Merck integrates Terns’ metabolic franchise into its own R&D engine. Terns’ programs include an oral GLP-1 receptor agonist, GIPR modulators for obesity, and a THR-β agonist designed to improve NASH outcomes—each aimed at massive unmet-need markets currently dominated by injectables and a handful of large players.

If Merck can successfully pair its development and commercial scale with Terns’ early clinical data—especially around combinations such as GLP-1 plus GIPR modulation—it could secure a differentiated foothold in the next wave of obesity and metabolic therapies. In Wall Street terms, Merck is not just buying a pipeline; it is buying a set of future licensing conversations, pricing debates, and, potentially, a few very crowded conference-room breakout sessions.

What It Signals for Biotech M&A

For the broader biotech sector, the Terns transaction is another data point in a familiar but welcome pattern: when the patent cliffs loom, the M&A cycle tends to remember biotech’s phone number. A near-$6 billion all-cash deal for a company with largely early- and mid-stage assets sends a message that well-positioned platforms in oncology and obesity can command strategic multiples, even before late-stage readouts arrive.

That dynamic may embolden other emerging players with differentiated science and clean balance sheets to hold out for richer terms, while pushing large-cap pharmas to move earlier in the clinical curve to secure access. For investors, the takeaway is that the next phase of this cycle may reward those willing to underwrite clinical risk long before the first offer letter shows up—provided they can stomach a bit of volatility along the way.

The Sources


[1] Merck nears $6 bln deal for Terns Pharma, FT reports https://investing.com/news/stock-market-news/merck-nears-6-bln-deal-for-terns-pharma-ft-reports-4578984?ampMode=1
[2] Merck (MRK) Nears $6 Billion Acquisition of Terns Pharmaceutical https://www.gurufocus.com/news/8740894/merck-mrk-nears-6-billion-acquisition-of-terns-pharmaceuticals-tern
[3] Merck nears $6bn biotech deal to boost cancer drug pipeline https://www.ft.com/content/3f695210-8cc0-4736-837a-7961d80588d9
[4] Merck Nears $6 Billion Deal to Boost Drug Pipeline, FT Says (1) https://news.bloomberglaw.com/pharma-and-life-sciences/merck-nears-6-billion-deal-to-boost-drug-pipeline-ft-says-1
[5] Merck Nears $6 Billion Acquisition of Terns Pharma to Boost Cancer … https://money.usnews.com/investing/news/articles/2026-03-24/merck-nears-6-billion-all-cash-deal-to-buy-terns-pharma-ft-reports
[6] The Wall Street Journal – Breaking News, Business, Financial & Economic News, World News and Video https://www.wsj.com
[7] Pipeline – Terns Pharma https://www.ternspharma.com/pipeline/
[8] Merck’s Terns Buy: A Pipeline Hedge or a Premature Premium? https://www.ainvest.com/news/merck-terns-buy-pipeline-hedge-premature-premium-2603/
[9] Pipeline – Terns Pharmaceuticals https://terns-staging.squarespace.com/pipeline
[10] Terns Pharma ‘builds upon pipeline’ of NASH, obesity research https://flgastro.org/video-terns-pharma-builds-upon-pipeline-of-nash-obesity-research/
[11] Merck’s All-Cash Deal to Value Terns at $6 Billion, Financial Times … https://www.binance.com/en-TR/square/post/305191174874178
[12] Merck nears $6 billion acquisition of Terns Pharma to boost cancer … https://www.investing.com/news/stock-market-news/merck-nears-6-billion-allcash-deal-to-buy-terns-pharma-ft-reports-4578962
[13] Merck Nears Deal to Buy Acquire Terns Pharmaceuticals – Bloomberg https://www.bloomberg.com/news/articles/2026-03-25/merck-nears-deal-to-buy-acquire-terns-pharmaceuticals
[14] Finance and Markets https://www.wsj.com/finance
[15] How to Write Headlines Like The Wall Street Journal https://raganconsulting.com/5-tips-to-write-headlines-from-the-wall-street-journal/

March 25, 2026

Billion Clicks and Counting: Inside the Spider-Man Trailer That Made “Viral” Look Small -( $DIS $SONY )

Spider-Man just did what Wall Street dreams of: turned a teaser into a trillion‑eyeball asset class, becoming the first movie trailer in history to cross 1 billion views in just four days across platforms. The result is not just a win for Marvel and Sony, but a case study in how IP, stars and social media can still melt the internet on command. For a franchise frequently declared past its prime, Brand New Day just rang a very loud opening bell

A Billion-View “Brand New Day”

The official trailer for “Spider-Man: Brand New Day,” Tom Holland’s fourth outing as Peter Parker, has now surpassed 1 billion views, the first film trailer ever to reach that milestone. Analytics firm WaveMetrix pegs the current tally at roughly 1.1 billion views, cementing it as the biggest movie trailer in history.

The road to that 10‑digit figure was paved at record speed: the clip first shattered launch records by amassing about 718.6 million views in 24 hours, the largest trailer debut on record. That initial surge outpaced the previous one‑day champion, “Deadpool & Wolverine,” which had posted 365 million views in its first 24 hours before losing the crown to the friendly neighborhood usurper.

Spider-Man Outswings GTA and the Superheroes

“Brand New Day” did not just leapfrog film competitors; it vaulted past “Grand Theft Auto VI,” whose debut had set the benchmark for most‑viewed trailer launch ever across any entertainment category. With 373 million views in its first eight hours alone, the Spider‑Man trailer effectively turned that prior record into a quaint historical footnote.

The billion‑view mark also reinforces Spider‑Man’s recovery of a title he once held: 2021’s “Spider-Man: No Way Home” long dominated trailer rankings before “Deadpool & Wolverine” briefly took the belt during the 2024 Super Bowl cycle. In a bit of Hollywood symmetry, the web‑slinger has now reclaimed the throne with a performance that suggests superhero fatigue may be more cyclical headline than structural trend.

Tom Holland, Zendaya and the Social-Media Flywheel

If box office is still about butts in seats, trailer velocity is increasingly about followers in feeds, and here “Brand New Day” is trading with blue‑chip collateral. Tom Holland, Zendaya and new co‑star Sadie Sink collectively command hundreds of millions of Instagram followers, giving the campaign a built‑in distribution network that most Fortune 500 consumer brands would envy.

That star power rides on top of familiar franchise equity: Holland returns as Peter Parker, Zendaya is back as M.J., and Jacob Batalon again plays best friend Ned, while the Marvel bench deepens with Mark Ruffalo’s Bruce Banner/The Hulk and Jon Bernthal’s Punisher appearing in the new story. For fans, this looks less like a simple sequel and more like a cross‑sector consolidation, with Spider‑Man functioning as a diversified Marvel index fund of beloved characters.

A Marketing Rollout Built Like a Meme

The trailer’s success is not just a function of IP and talent; it is also a study in distribution engineering that would make a growth‑stage startup blush. Rather than quietly uploading a single clip, Marvel leaned into a more participatory rollout that leveraged short‑form, shareable snippets and a global fan base primed to repost every frame.

The result was a self‑reinforcing feedback loop: early record headlines (“biggest trailer launch in history”) became their own marketing assets, which in turn drove new viewers back into the funnel. By the time the four‑day tally tipped into ten‑digits, “Brand New Day” had effectively transformed its trailer from promotional material into an event investors would recognize as a full‑fledged media catalyst.

What the Billion-View Bet Signals Next

On the studio side, the July 2026 theatrical release now arrives with expectations that look less like opening‑weekend projections and more like an IPO roadshow deck for a highly anticipated listing. With Spider‑Man once again proving he can move culture, Marvel and Sony gain fresh evidence that carefully stewarded franchises can still generate outsize digital demand in a crowded streaming and gaming landscape.

For Hollywood at large, the “Brand New Day” phenomenon suggests the trailer is evolving into its own asset class, a tradable proxy for future demand watched as closely as pre‑sales and tracking surveys. If this is the new bar, studios may feel compelled to engineer their next campaigns less like movie ads and more like market‑moving announcements—complete with their own billion‑view targets.

Watch It Now

The Sources


[1] ‘Spider-Man: Brand New Day’ Makes History as First Movie Trailer to Cross 1 Billion Views (EXCLUSIVE) https://variety.com/2026/film/news/spider-man-brand-new-day-trailer-1-billion-views-first-history-1236697959/
[2] “Spider-Man: Brand New Day” Trailer Shatters Previous Record for … https://www.motionpictures.org/2026/03/spider-man-brand-new-day-trailer-shatters-previous-record-for-most-viewed-trailer-ever/
[3] Holy Crap, the ‘Spider-Man: Brand New Day’ Trailer Has Been … https://gizmodo.com/spider-man-brand-new-day-trailer-views-record-marvel-2000737518
[4] ‘Spider-Man: Brand New Day’ absolutely wild number of trailer leave fans in frenzy https://www.thenews.com.pk/latest/1396587-the-spider-man-brand-new-day-trailer-hits-the-1-billion-views-milestone-in-4-days
[5] Spider-Man: Brand New Day Trailer Is Biggest in History … – Variety https://variety.com/2026/film/news/spider-man-brand-new-day-trailer-biggest-ever-break-record-1236694163/
[6] “Spider-Man: Brand New Day” has crossed 1 billion views in just … https://www.instagram.com/p/DWRpYg9FXpU/
[7] See the ‘Spider-Man: Brand New Day’ Cast Side-by … – People.com https://people.com/spider-man-brand-new-day-cast-characters-11928837
[8] After breaking GTA 6’s record, the Spider-Man: Brand New Day trailer has crossed 1 billion views faster than any movie in history https://www.gamesradar.com/entertainment/marvel-movies/after-breaking-gta-6s-record-the-spider-man-brand-new-day-trailer-has-crossed-1-billion-views-faster-than-any-movie-in-history/
[9] BRAND NEW DAY | Official Trailer (HD) | In Cinemas July 30, 2026 https://www.youtube.com/watch?v=Tt5F0DQoWJA
[10] ‘Spider Man: Brand New Day’ Trailer Breaks Record With 1 Billion Views in 4 Days, Becomes Biggest in History https://www.imdb.com/it/news/ni65765339/
[11] Spider-Man: Brand New Day Trailer Breaks Record With 1 Billion Views https://screenrant.com/spider-man-brand-new-day-trailer-watch-record/
[12] In Just 4 Days, Spider-Man: Brand New Day Becomes First Movie To Hit 1 Billion Milestone https://www.cbr.com/spider-man-brand-new-day-trailer-1-billion-views-first-movie/
[13] Variety – “Spider-Man: Brand New Day” has become the … – Facebook https://www.facebook.com/Variety/photos/spider-man-brand-new-day-has-become-the-biggest-movie-trailer-launch-in-history-/1287357596588399/
[14] How to Write Headlines Like The Wall Street Journal https://raganconsulting.com/5-tips-to-write-headlines-from-the-wall-street-journal/
[15] ‘Spider-Man: Brand New Day’ Trailer Gets Record 719 Million Views https://deadline.com/2026/03/spider-man-brand-new-day-trailer-record-viewership-1236760618/

March 24, 2026

March 24, 2026 – Nasdaq Nurses a Hangover as Crude Parties Like It’s 1979 -( $AAOI $ANNA $FOUR $GOVX $HTFL $NOK $TSLA Rise!)

Wall Street gave back part of Monday’s euphoric bounce on Tuesday as oil roared back above $92 and Middle East headlines reminded investors that risk never really takes a day off.

Indices: Rally Hangover, Not a Meltdown

US stocks slipped, but the pullback looked more like a post-party tidy-up than a full-on risk-off evacuation. The S&P 500 (-.37%) and Dow (-.18%) eased after Monday’s surge, while the Nasdaq took the heavier hit off .84% as investors trimmed high-beta tech and growth winners. Under the surface, traders framed the session as a healthy consolidation day following an outsized relief rally tied to hopes for a diplomatic off-ramp in the Iran conflict. On the positive side, the small caps on the Russell 2000 rise .45% today.

Oil Rebounds, Geopolitics Reclaim Center Stage

Crude oil snapped back with force as hopes for a quick cease-fire faded and investors refocused on the reality of a prolonged conflict around the Strait of Hormuz. West Texas Intermediate climbed roughly 4% to trade above $92 per barrel, while Brent crude pushed back through the psychologically charged $100 mark and on toward $104. BP’s chief economist called the Iran war “unlike any oil shock” in modern history, underscoring the scale of supply disruption if 15 to 16 million barrels per day remain effectively sidelined. For equity traders, that translated into a familiar playbook: bid energy, reassess cyclicals, and quietly dust off old stagflation memos.

From Talk of Peace to Pricing in Risk

Monday’s optimism had been fueled by President Trump’s comments about “very good and productive” discussions with Iran, which flipped markets from red to green and triggered a sharp relief rally. That narrative unraveled as Iranian state media pushed back on the idea of direct talks, forcing investors to admit that Instagram-friendly soundbites are not, in fact, a binding peace treaty. The recalibration left stocks soft but orderly, as investors shifted from pricing in a swift resolution to bracing for a conflict that could drag on and reshape the energy and inflation outlook into the summer.

Sector Winners and Losers: Energy Smiles, Tech Sighs

Energy related names sat in the market’s winner’s circle again, riding the twin tailwinds of higher crude and a renewed focus on supply security. Rate-sensitive growth and big tech, by contrast, bore the brunt of the pullback as traders reconsidered how much multiple expansion they can justify if oil-driven inflation lingers and the Federal Reserve stays hawkish for longer. Leveraged tech vehicles and high-octane Nasdaq-linked products also lost altitude as investors locked in recent gains and dialed back exposure to the most crowded momentum trades. Small caps and select cyclicals displayed surprising resilience, hinting that investors are rotating rather than running.

Macro Mood: Between Relief and Reality

The broader macro narrative remains delicately balanced between relief that the worst-case scenarios have not yet materialized and recognition that this oil shock is both large and unusually complex. Economists warned that a 10% rise in oil prices can shave 0.1% to 0.2% off global growth, and current moves far exceed that simple textbook case. Still, with US indexes only modestly lower and volatility controlled, the market is signaling a preference for “muddle through” rather than “falling off a cliff.” In classic Wall Street fashion, investors are attempting to thread the needle: stay invested, lean into energy and defensives, and hope that diplomacy eventually catches up with price action.

VP Watchlist Updates

Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.

Shift4 (NYSE: FOUR, $52.50, +19.24%)

Shift4 (NYSE: FOUR), a global leader in integrated payments and commerce technology, is quietly stitching together a commerce empire, and its latest moves in AI phone ordering, gateway consolidation, and ties to Nokia and Nvidia read like a bullish footnote to the broader hospitality tech story. Learn more here.

Serina Therapeutics (NYSE: SER, $2.43)

Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.

What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.

AleAnna, Inc. (ANNA)

AleAnna, Inc. (ANNA, $5.68, +40.79% today) just turned a dry technical milestone—its year‑end reserves report—into something closer to an Italian energy renaissance, with proved natural gas reserves jumping 47% after a year of active production. For investors hunting for credible growth stories in a world of energy-transition buzzwords, this is one of the rare cases where the molecules are actually catching up to the marketing. Learn more here.

Eupraxia Pharmaceuticals (EPRX, $6.89)

Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”

Modular Medical (MODD $.1712)

GeoVax Labs (GOVX, $1.54, +2.67%)

The InterGroup Corporation (INTG, $36.03)

  • InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.

Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO)

  • Volato Group, Inc. announced (March 10) that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
  • Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
  • On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.

NVIDIA (NVDA, $175.20) (NOK, $8.25, +2.36%)

  • In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
  • Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
  • NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.

McDonald’s (MCD, $307.84)

  • In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $5.18)

Heartflow, Inc. (HTFL, $27.97, +4.29%)

Heartflow, Inc. (HTFL), the leader in AI technology for coronary artery disease (CAD), reported (March 18) financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights included:

  • Total revenue of $49.1 million, a 40% increase year-over-year
  • Gross margin of 79.5%, non-GAAP gross margin of 79.9%
  • Net operating loss of $17.8 million, non-GAAP net operating loss of $12.5 million
  • U.S. installed base of 1,465 accounts as of December 31, 2025
  • U.S. Plaque installed base of 489 accounts as of December 31, 2025
  • Aetna began coverage of Heartflow Plaque Analysis, bringing total U.S. covered lives for Plaque to approximately 75%

Tesla (TSLA, $383.03, +.57%)

Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.

Applied Optoelectronics Inc. (AAOI, $113.90, +18.94%)

Applied Optoelectronics Inc. (NASDAQ: AAOI), a leading provider of advanced optical and HFC networking products that power AI, today announced it has received a new volume order from one of its major hyperscale customers for 800G single-mode data center transceivers to help expand its network capacity for AI-driven workloads.

The Sources

  1. Yahoo Finance – “Dow, S&P 500, Nasdaq drop after rally as Iran war drags on”
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-drop-after-rally-as-iran-war-drags-on-171812803.htmlfinance.yahoo
  2. The Wall Street Journal – “Stock Market Today: Nasdaq Slips, Brent Crude Rises Above $100 — Live Updates”
    https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-03-24-2026wsj
  3. TS2/Tech – “US Stock Market Today: Live Updates 24.03.2026”
    https://ts2.tech/en/stock-market-today-24-03-2026/ts2
  4. 24/7 Wall St. – “Stock Market Live March 24, 2026: S&P 500 (SPY) Under Pressure Again”
    https://247wallst.com/investing/2026/03/24/stock-market-live-march-24-2026-sp-500-spy-under-pressure-again/247wallst
  5. TheStreet – “Stock Market Today: Live updates, top news for March 24, 2026”
    https://www.thestreet.com/latest-news/stock-market-today-march-24-2026-updatesthestreet
  6. KSAT / Associated Press – “Oil prices rise and stocks fall as war with Iran advances despite Trump’s talk of negotiations”
    https://www.ksat.com/business/2026/03/24/asian-shares-mostly-rebound-after-trump-hints-at-a-possible-end-to-the-iran-war/ksat
  7. Yahoo Finance (UK edition headline variant) – “Dow, S&P 500, Nasdaq wobble after rally as Iran war drags on”
    https://uk.finance.yahoo.com/news/stock-market-today-dow-sp-500-nasdaq-wobble-after-rally-as-iran-war-drags-on-150624837.htmlfinance.yahoo
  8. Yahoo Finance (futures/preview piece) – “Dow, S&P 500, Nasdaq futures waver after rally as Iran war drags on”
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-waver-after-rally-as-iran-war-drags-on-22472984finance.yahoo
  9. Yahoo Finance (companion coverage on US stocks and Iran talks) – “US stocks swing between losses and gains on uncertainty over Iran talks”
    https://ca.finance.yahoo.com/news/asian-shares-mostly-rebound-trump-015310127.htmlfinance.yahoo
  10. Bloomberg – “Stocks Fall, Oil Gains on Report of US Deployment: Markets Wrap”
    https://www.bloomberg.com/news/articles/2026-03-23/stock-market-today-dow-s-p-live-updatesbloomberg
March 24, 2026

Please Hold (Never): How Shift4, Maple, Nokia and Nvidia Turn Missed Calls Into Money -( $FOUR $NOK $NVDA )

Shift4 (FOUR) is quietly stitching together a commerce empire, and its latest moves in AI phone ordering, gateway consolidation, and ties to Nokia and Nvidia read like a bullish footnote to the broader hospitality tech story.

Shift4 Dials Up AI: Maple Brings a Voice Assistant to the Dinner Rush

In an industry where the dinner rush sounds less like a dining room and more like a call center on hold, Shift4 and Maple are betting that artificial intelligence can finally pick up the phone. Maple, a voice AI platform built for restaurants, has integrated its phone‑ordering technology directly into Shift4’s SkyTab point‑of‑sale system, offering always‑on ordering to operators who routinely miss a painful share of inbound calls.

American restaurants are estimated to miss roughly one in three calls during busy periods, a leak that translates into billions of dollars in lost sales across the sector. By routing those calls to Maple’s AI—rather than to a harried host juggling menus, credit cards, and a line out the door—the partnership aims to turn “sorry, we missed you” into a new revenue stream that quietly arrives through the POS.

From Ringing Phones to Revenue Streams

The pitch to restaurateurs is intentionally simple: flip a switch in the SkyTab marketplace, let Maple sync the menu in real time, and let the software handle the ringing phones while staff handle the humans in the dining room. Orders flow straight into the kitchen systems, with no extra hardware, binders, or staff retraining required—an important detail in a labor market where adding headcount is neither cheap nor easy.

Maple’s system has already answered over 1 million calls across thousands of restaurant locations, achieving resolution rates in the mid‑90% range without needing a human to jump in. For operators accustomed to watching calls pile up during peak hours, the math is straightforward: capturing even a slice of those previously unanswered orders can mean tens of thousands of dollars in incremental annual revenue per restaurant.

Nokia and Nvidia: AI Infrastructure Behind the Scenes

Zoom out from the restaurant floor and the Maple–Shift4 story sits neatly on top of a larger AI‑infrastructure shift now underway at companies like Nokia and Nvidia. Nvidia has committed a 1.0 billion dollar equity investment in Nokia, purchasing roughly 166 million new shares for about a 2.9% stake as part of a strategic alliance to build AI‑native 5G and 6G networks.

Nokia plans to use that capital to accelerate its radio access network software on Nvidia’s platforms and to push deeper into AI‑ready networking for data centers and the cloud. For investors watching hospitality tech, that kind of heavy lifting in AI networking and “AI‑RAN” infrastructure provides the backbone for the low‑latency, always‑on connectivity that voice‑driven commerce—from AI phone ordering to next‑gen mobile experiences—will increasingly demand.

Why AI Phone Ordering Fits Shift4’s Bigger Playbook

For Shift4, the Maple partnership is less a one‑off innovation and more another brick in a broader, unified commerce strategy. The company already provides integrated payments and SkyTab POS to a large installed base of restaurants and hospitality merchants; adding AI‑driven phone ordering deepens its hooks into day‑to‑day operations and nudges more transaction volume onto its rails.

That strategy rhymes with the company’s recent acquisition of Worldline’s Bambora North America gateway business, which brings roughly 140,000 merchants and more than 500 integrated software vendors across the U.S. and Canada into Shift4’s orbit. By folding those merchants onto its platform, Shift4 is positioning itself as the infrastructure layer for everything from in‑venue dining to e‑commerce checkout, loyalty, and now AI‑handled voice orders.

Scale, Synergies, and the Fine Art of Cross‑Selling

Shift4’s management has been explicit that the Bambora North America acquisition is designed to expand the company’s gateway portfolio and increase payment volume on its platform. Those newly acquired merchants now represent a sizeable cross‑sell opportunity for the company’s broader commerce stack, including SkyTab POS, value‑added services, and partnerships like the Maple AI integration.

If the Maple deployment proves as plug‑and‑play as advertised—going live in minutes, pulling live menu data directly from SkyTab, and eliminating manual programming—Shift4 has another feature it can layer into that expanding merchant base with minimal friction. In an industry where margins are tight and staffing unpredictable, a 24/7 AI receptionist that never calls in sick is not a hard concept to price out.

Hospitality’s Next Competitive Edge: Answering Every Call

The restaurant sector has already embraced online ordering, QR codes, and tableside payments; the phone, oddly, has been the stubborn analog holdout. By automating that last, noisy channel, Maple and Shift4 are turning what was once operational background noise into measurable throughput that feeds directly into the POS and payments stack.

The broader hospitality trend line is clear: winners are likely to be the operators who marry warm, in‑person service with quietly efficient automation in the back and at the edge. For Shift4, embedding AI into SkyTab, leveraging a growing merchant footprint, and operating atop an AI‑supercycle powered in part by infrastructure players like Nokia and Nvidia suggests a simple thesis: in the next phase of hospitality tech, the companies that answer every call—literal and strategic—may have the inside track.

Investor Sidebar: FOUR, NOK, NVDA

  • FOUR (Shift4): The Maple partnership adds high‑margin, AI‑driven ordering volume on top of SkyTab, while the Bambora North America acquisition boosts gateway scale with roughly 140,000 merchants and 500‑plus ISVs now in cross‑sell range. Together, these moves deepen FOUR’s transaction moat and expand its optionality in value‑added software across hospitality and broader commerce.
  • NOK (Nokia): Nvidia’s roughly 1.0 billion dollar equity investment, equating to about a 2.9% stake via 166 million new shares, is earmarked to accelerate Nokia’s AI‑native 5G/6G and data‑center networking roadmap. That positions NOK as a core enabler of low‑latency, AI‑heavy applications—from AI‑RAN to edge commerce—that platforms like Shift4 and Maple will increasingly rely on.
  • NVDA (Nvidia): The Nokia stake extends Nvidia’s data‑center and networking franchise into carrier‑grade AI infrastructure, reinforcing its role as the default silicon and software layer for AI workloads. For NVDA, voice‑driven commerce and hospitality AI are not end markets so much as incremental demand drivers riding on top of its expanding AI networking and platform footprint.

The Sources

Here’s a numbered list of the key sources with live links:

  1. Maple Partners with Shift4 to Bring AI Phone Ordering to SkyTab Restaurants – Business Wire / Yahoo Finance
    https://finance.yahoo.com/news/maple-partners-shift4-bring-ai-100000343.htmlfinance.yahoo
  2. Maple Partners with Shift4 to Bring AI Phone Ordering to SkyTab Restaurants – Maple press release (Business Wire full text)
    https://www.businesswire.com/news/home/20260316749809/en/Maple-Partners-with-Shift4-to-Bring-AI-Phone-Ordering-to-SkyTab-Restaurantsbusinesswire
  3. Maple Partners with Shift4 to Bring AI Phone Ordering to SkyTab Restaurants – InvestingNews coverage
    https://investingnews.com/maple-partners-with-shift4-to-bring-ai-phone-ordering-to-skytab-restaurants/investingnews
  4. Additional syndication of Maple–Shift4 AI Phone Ordering release – Barchart
    https://www.barchart.com/story/news/765986/maple-partners-with-shift4-to-bring-ai-phone-ordering-to-skytab-restaurantsbarchart
  5. Maple–Shift4 AI Phone Ordering coverage – GoRSPA
    https://www.gorspa.org/maple-partners-with-shift4-to-bring-ai-phone-ordering-to-skytab-restaurants/gorspa
  6. Maple–SkyTab AI Phone Ordering Integration Might Change The Way Restaurants Handle Calls – Yahoo Finance / analysis
    https://finance.yahoo.com/news/maple-skytab-ai-phone-ordering-070700519.htmlfinance.yahoo
  7. Shift4 Completes Previously Announced Acquisition of Worldline’s North American Subsidiaries (Bambora North America) – Yahoo Finance
    https://finance.yahoo.com/news/shift4-completes-previously-announced-acquisition-213000597.htmlfinance.yahoo
  8. Shift4 completes acquisition of Bambora North America – Investing.com
    https://www.investing.com/news/company-news/shift4-completes-acquisition-of-bambora-north-america-93CH-4536229investing
  9. Shift4 Completes Previously Announced Acquisition of Worldline’s North American Subsidiaries – InvestingNews version
    https://investingnews.com/shift4-completes-previously-announced-acquisition-of-worldline-s-north-american-subsidiaries/investingnews
  10. Inside Information: NVIDIA To Make USD 1.0 Billion Equity Investment in Nokia in Addition to New Strategic Partnership – Nokia
    https://www.nokia.com/newsroom/inside-information-nvidia-to-make-usd-1-billion-equity-investment-in-nokia-in-addition-to-new-strategic-partnership/nokia
  11. NVIDIA To Make USD 1.0 Billion Equity Investment in Nokia – Pipeline (syndicated Nokia release)
    https://www.pipelinepub.com/news/nvidia-to-make-usd-1.0-billion-equity-investment-in-nokiapipelinepub
  12. Nvidia to take $1 billion Nokia stake, supply network AI chips – CNBC/TV18
    https://www.cnbctv18.com/technology/nvidia-to-take-1-billion-nokia-stake-supply-network-ai-chips-19730625.htmcnbctv18
  13. Nvidia’s $1 billion stake sends Nokia to decade high on AI hopes – Reuters
    https://www.reuters.com/world/europe/nvidia-make-1-billion-investment-finlands-nokia-2025-10-28/reuters

March 24, 2026

SK hynix, ASML and the $8 Billion Lithography Love Story Powering the Next AI Boom -( $ASML )

SK hynix just wrote an enormous check to the future of AI memory, agreeing to spend nearly 12 trillion won (about 8 billion dollars) on EUV scanners from ASML Korea in what amounts to a bet that the AI boom is closer to the second inning than the ninth. The order is so large it registers as roughly 10% of the company’s total assets, a scale that would make even seasoned Wall Street bankers straighten their ties.

SK hynix’s $8 Billion Love Letter to EUV

SK hynix disclosed that it will acquire extreme ultraviolet lithography scanners from ASML Korea worth around 11.95 trillion won, or about 7.97–8 billion dollars at recent exchange rates. The tools will be delivered and installed through December 2027, positioning the company for mass production of next‑generation memory products just as AI workloads intensify across data centers and devices.

Analysts estimate the deal could translate into roughly 20 additional EUV scanners, implying a step-change in SK hynix’s capacity to pattern ever-finer features on DRAM and high‑bandwidth memory chips. For ASML, the purchase represents one of the largest single disclosed EUV orders on record, nudging an already hefty backlog that stood near 39 billion euros at the end of last year.

Racing Samsung, Courting Nvidia’s World

The spending spree does more than upgrade SK hynix’s clean rooms; it helps close the EUV gap with its larger Korean rival. The company is expected to move from roughly 20 EUV scanners to about 40 once the new tools are in place, narrowing the distance with Samsung Electronics, which is thought to have around 60. In semiconductor geopolitics, that is less a minor hardware refresh and more a shift in negotiating leverage with the biggest buyers of AI memory.

The strategic backdrop is the arms race to supply high‑bandwidth memory chips that underpin the GPUs and accelerators powering generative AI, recommendation engines, and other data‑hungry workloads. As demand for AI servers, cloud infrastructure, and high‑end mobile devices rises, the ability to scale density and improve power efficiency in DRAM becomes critical, and EUV lithography is emerging as the preferred way to keep shrinking features without letting defect rates balloon.

High‑NA: From Buzzword to Production Tool

SK hynix is not approaching this purely as a volume story; it is also moving early on the next generation of lithography optics. The company has already installed what it describes as the industry’s first High‑NA EUV system for memory production at its M16 fab in Icheon, using ASML’s TWINSCAN EXE:5200B tool. With a numerical aperture boosted from 0.33 to 0.55, High‑NA allows transistors to be printed about 1.7 times smaller and raises transistor density by nearly threefold compared with conventional EUV scanners, a combination that matters for both cost per bit and energy efficiency.

That technical lead dovetails with SK hynix’s broader roadmap to simplify EUV process steps, push DRAM and HBM into more advanced nodes, and strengthen its foothold in high‑value memory products. ASML executives, never shy about their own role in chip‑industry history, have called High‑NA a “critical technology that opens the next chapter” of semiconductors, and SK hynix is positioning itself as an early author of that chapter in memory.

Yongin, Timelines, and the AI Capacity Crunch

The EUV order slots neatly into a wider build‑out of Korean manufacturing capacity. SK hynix has outlined plans to invest more than 21 trillion won—roughly 15 billion dollars—to construct new chip production lines in Yongin by 2030, and it is reportedly pulling forward the start of that facility to around early 2027. The newly ordered scanners are expected to support both the Yongin complex and existing fabs such as its MX or M16 plants, which are core to high‑bandwidth memory output.

Industry research groups note that SK hynix’s commitment fits into a broader trend: EUV spending for DRAM is projected to grow at a mid‑teens to mid‑twenties compound annual rate, as bit growth accelerates and the number of EUV exposures per die climbs later this decade. For investors parsing supply‑demand balances, the timing of this two‑year EUV ramp—into 2027—suggests SK hynix is not betting on a brief AI sugar high but on a structurally higher baseline for memory intensity in servers, PCs, and edge devices.

Market Signals and Wall Street Subtext

Equity markets have taken note of the capital‑spending bravado. SK hynix shares climbed after local reports flagged the possibility of the deal and floated that the company could raise up to 10 billion dollars through a potential U.S. listing, underscoring how global its investor base has become. ASML’s stock, already trading at a level that invites comparisons to luxury goods rather than industrial machinery, edged higher as the EUV backlog lengthened and the market digested yet another multibillion‑dollar validation of its monopolistic niche.

For portfolio managers, the narrative is uncomfortably simple: the “picks and shovels” of the AI gold rush now include not just GPUs and networking gear, but the rarefied optics and memory fabs that make those systems economically viable. SK hynix’s nearly 12‑trillion‑won EUV order reads less like an optional upgrade and more like table stakes for any chipmaker hoping to remain central to AI infrastructure in the next decade.

The Sources


[1] SK Hynix: to buy EUV scanners for $8 billion from ASML Korea https://finance.yahoo.com/sectors/technology/articles/sk-hynix-buy-euv-scanners-044726234.html
[2] SK Hynix Invests 12 Trillion Won in ASML EUV Equipment https://www.chosun.com/english/industry-en/2026/03/24/OCDLROAZFZENHHCBNFNLK35ZBI/
[3] [News] SK hynix Commits $8B to ASML EUV Equipment by 2027 in … https://www.trendforce.com/news/2026/03/24/news-sk-hynix-commits-8b-to-asml-euv-equipment-by-2027-in-push-for-ai-memory-dominance/
[4] Sk Hynix: To Buy Euv Scanners for $8 Billion From Asml Korea https://www.globalbankingandfinance.com/sk-hynix-buy-euv-scanners-8-billion-asml-korea/
[5] SK Hynix plans to purchase EUV lithography machines from ASML … https://news.futunn.com/en/post/70517415/sk-hynix-plans-to-purchase-euv-lithography-machines-from-asml
[6] SK Hynix to invest $15 billion in new semiconductor facilities in South Korea https://www.reuters.com/world/asia-pacific/sk-hynix-invest-15-billion-new-semiconductor-facilities-south-korea-2026-02-25/
[7] Report: SK Hynix to double EUV capacity with 20 new units in two … https://bits-chips.com/article/report-sk-hynix-to-double-euv-capacity-with-20-new-units-in-two-years/
[8] SK hynix Introduces Industry’s First Commercial High NA EUV https://finance.yahoo.com/news/sk-hynix-introduces-industrys-first-233000910.html
[9] [News] SK Hynix Leads the Pack to Introduce ASML’s High-NA EUV … https://www.trendforce.com/news/2025/09/03/news-sk-hynix-leads-the-pack-to-introduce-asmls-high-na-euv-system-for-memory-production/
[10] SK hynix Introduces Industry’s First Commercial High NA EUV https://news.skhynix.com/sk-hynix-introduces-industrys-first-commercial-high-na-euv/
[11] SK Hynix: to buy EUV scanners for $8 billion from ASML Korea https://www.tradingview.com/news/reuters.com,2026:newsml_P8N3WA0DB:0-sk-hynix-to-buy-euv-scanners-for-8-billion-from-asml-korea/
[12] SK hynix’s EUV expansion: a game changer for AI memory? – LinkedIn https://www.linkedin.com/posts/anny-yu-5a40a8175_sk-hynixs-euv-expansion-to-be-the-tsmc-activity-7376510608550268928-w3DO
[13] The Wall Street Journal Is Getting Into SEO and Self-Help … https://www.businessinsider.com/the-wall-street-journal-is-getting-into-seo-2021-3
[14] The Wall Street Journal – Breaking News, Business, Financial & Economic News, World News and Video https://www.wsj.com
[15] The Wall Street Journal and Barron’s to Provide Headline News on Yahoo! Finance | Altaba Inc. https://www.altaba.com/news-releases/news-release-details/wall-street-journal-and-barrons-provide-headline-news-yahoo

March 24, 2026

Solar, EVs, AI… And Silver: The One Metal Your ‘Modern Portfolio’ Forgot To Invite -( $SIL )

Gold may still own the vault, but in 2026 silver is quietly applying for a corner office in the real economy—and the résumé is stronger than many investors realize.

From Vault Metal To Working Metal

For centuries, gold has been the polished emblem of wealth and political anxiety, sitting in central‑bank vaults and private safes as insurance against monetary experiments and geopolitical missteps. Silver, by contrast, is increasingly less about display cases and more about data centers, EV platforms, and power electronics, where its unmatched electrical conductivity makes it mission‑critical rather than merely ornamental.

That bifurcation is now visible in market behavior: gold still trades primarily on real rates, policy signals, and safe‑haven flows, while silver straddles both worlds, reacting to macro fears and to the very practical question of whether the energy transition can stay on schedule.

Solar Panels: The First Big Re‑Write

The solar industry remains one of silver’s headline employers, even as manufacturers work hard to use less of it per watt. Photovoltaics have recently accounted for close to a fifth of total silver demand, a share big enough that every tweak in solar policy or manufacturing efficiency ripples through the silver market.

In 2026, solar manufacturers are pushing “thrifting” and substitution programs to manage costs, which is expected to trim overall industrial fabrication by a couple of percentage points and mark a four‑year low. Yet even with that pullback, policy targets such as the European Union’s aim for hundreds of gigawatts of new solar capacity by 2030 imply that this is a cyclical exhale inside a longer structural inhale for silver demand.

EVs, AI, 5G: The New Silver Triangle

While solar experiments with using less silver, other sectors are quietly asking for more. Battery electric vehicles typically use nearly twice as much silver as traditional internal‑combustion cars, embedding the metal across battery management systems, inverters, fast‑charging hardware, and increasingly sensor‑heavy driver assistance suites.

On the digital side, AI data centers and high‑performance computing clusters are emerging as a durable growth engine, exploiting silver’s superior conductivity to handle dense, continuous power flows. The 5G build‑out adds yet another layer: base stations with more antennas and higher‑frequency RF components are expected to consume millions of ounces of silver annually as networks scale toward tens of millions of sites worldwide by the end of the decade.

Supply, ESG And The New Geography Of Mining

If demand is writing a bullish script, supply is reading from a more constrained one. Roughly two‑thirds of global silver output arrives as a byproduct of mining other metals, which means that even sharp price spikes do not automatically unlock new dedicated supply in time to meet accelerating industrial needs.

Layered on top is the ESG filter reshaping where and how new projects get financed, particularly across mineral‑rich regions of Africa that hold a significant share of the world’s future clean‑energy metals. Investors and host governments are increasingly insisting on transparent reporting, environmental stewardship, and community benefits, turning ESG compliance from a marketing line into a prerequisite for accessing capital—and, by extension, for bringing incremental ounces to market.

When The Deficit Meets The Narrative

The result is a market that has now chalked up multiple years of structural deficit, as total silver demand—industrial plus investment—outpaces mine supply and recycling. Industrial demand alone is projected to grow in the mid‑single digits annually through 2030, while supply remains stubbornly slow‑moving, a mismatch that tends to resolve itself not with polite negotiation but with abrupt repricing.

That sets up an unusual dynamic for portfolio construction: gold continues to play the steady anchor, absorbing stress from real‑rate shocks and geopolitical risk, whereas silver behaves like the cyclical overachiever cousin—more volatile, but now wired into the core infrastructure of the energy transition and the AI build‑out. For investors, the question is less “silver or gold?” and more whether a historically secondary metal deserves a strategic allocation in a world where industry, policy, and technology all seem to be quietly voting yes.

What To Watch In 2026

For anyone tracking precious metals this year, three dashboards matter more than the latest cocktail‑party take on “hard assets.”

  • Industrial demand trends: Are EV sales, data‑center capex, and 5G deployments offsetting thrifted silver in solar, keeping total industrial usage on its projected growth path.
  • Supply and ESG bottlenecks: Do permitting timelines, ESG requirements, and byproduct‑heavy mine profiles keep the market in deficit even if prices climb, or does new primary silver supply finally respond.
  • Investor positioning: In a world of choppy rates and periodic risk‑off episodes, does capital treat silver primarily as a high‑beta adjunct to gold or as a distinct way to express views on the energy transition and digital infrastructure.

Gold may still hold the keys to the vault, but silver is increasingly the metal holding the grid, the drivetrain, and the server rack together—and markets have a habit of eventually repricing whatever the modern economy cannot live without.

The Sources


[1] Why Solar Panels, EVs, and AI Are Driving Silver Demand to Record … https://www.silver-phoenix500.com/article/why-solar-panels-evs-and-ai-are-driving-silver-demand-record-highs
[2] Silver Demand Forecast to Expand Across Key Technology Sectors https://finance.yahoo.com/news/silver-demand-forecast-expand-across-153000408.html
[3] Using Gold as Inflation Hedge and Silver to Protect Your Savings https://thebullionbank.com/blog/gold-and-silver-inflation-hedge
[4] From Mockery to Curiosity: Gold’s Changing Narrative https://www.goldcore.com/blog/from-mockery-to-curiosity-golds-changing-narrative
[5] Gold and Silver Sell-off Explained: Inflation Shock Overrides Safe … https://www.ainvest.com/news/gold-silver-sell-explained-inflation-shock-overrides-safe-haven-demand-2603-78/
[6] Solar industry accelerates shift from silver as costs soar – Reuters https://www.reuters.com/sustainability/climate-energy/solar-industry-accelerates-shift-silver-costs-soar-2026-02-19/
[7] Silver Substitution Efforts To Lower Demand In Solar Sector In 2026 https://taiyangnews.info/business/silver-substitution-efforts-to-lower-demand-in-solar-sector-in-2026
[8] Silver Demand Forecast to Expand Across Key Technology Sectors https://silverinstitute.org/silver-demand-forecast-to-expand-across-key-technology-sectors/
[9] Silver in 2026 and Beyond: Rising Prices, Solar Substitution, and a … https://carboncredits.com/silver-in-2026-and-beyond-rising-prices-solar-substitution-and-a-market-still-in-deficit/
[10] How silver mining companies can build resilience and growth – EY https://www.ey.com/en_us/insights/mining-metals/how-silver-mining-companies-can-build-resilience-and-growth
[11] Transparency in ESG: The key to unlocking Africa’s mineral wealth https://africanminingmarket.com/transparency-in-esg-the-key-to-unlocking-africa-mineral-wealth/21115/
[12] In the scramble for Africa’s critical minerals, the West must not … https://www.atlanticcouncil.org/blogs/africasource/in-the-scramble-for-africas-critical-minerals-the-west-must-not-abandon-the-esg-agenda/
[13] Silver Demand in 2026: Technology, Industry, and the … – UniAthena https://uniathena.com/silver-market-demand-trends
[14] The Silver & Gold Surge In 2026 Is A Potential Safe Haven – YouTube https://www.youtube.com/shorts/qhBlTXvwyYk
[15] From Mockery to Curiosity: Gold’s Changing Narrative https://goldseek.com/article/mockery-curiosity-golds-changing-narrative

March 23, 2026

March 23, 2026 – US Stocks Soar as Trump Hits “Pause” on Iran Strikes, Oil Takes a Spill -( $DAL $EPRX $GOVX $HTFL $NOK $NVDA $OPEN $SER Rise!)

Wall Street opened the week in full relief mode as traders swapped flight-to-safety for fear-of-missing-out.
The Dow Jones Industrial Average jumped roughly 600 points, or about 1.4%–2% depending on the intraday snapshot, marking one of its strongest sessions since early February. The S&P 500 and Nasdaq followed suit, climbing around 1%–2% as buyers rushed back into beaten-up growth, cyclicals, and mega-cap tech after a bruising stretch of geopolitically driven volatility. Indeed, for a market that spent recent sessions obsessing over every headline out of the Strait of Hormuz, Monday’s tape suggested investors were suddenly willing to believe in happy endings again—at least for five days.

Trump’s Five-Day Timeout Reprices Geopolitical Risk

The catalyst was President Donald Trump’s announcement that the U.S. would postpone strikes on Iran’s power plants and energy infrastructure for five days, citing “very good and productive” discussions with Tehran. The pause, framed as a window for diplomacy, immediately lowered the market’s perceived odds of an all-out energy shock and helped unwind a war-premium that had been building across crude, equities, and gold.

Trump also floated the possibility that the Strait of Hormuz—choked by conflict and threats of escalation—could reopen under some form of joint U.S.–Iran control “if this works,” giving traders a narrative that sounded just constructive enough to hit the buy button. Iranian outlets, for their part, have denied direct or indirect contact with Washington, but equity markets showed more interest in the Oval Office’s version of events than in the fine print of diplomatic protocol.

Oil Slides, Airlines Fly, Energy Squirms

The clearest tell that geopolitical risk was being repriced came from crude, where futures reversed sharply from recent highs. West Texas Intermediate dropped more than 10%, slipping into the high‑80s after trading above 110 earlier, while Brent crude tumbled back below the psychologically important 100-dollar mark and hopefully on its way back to the traditionally accceptable range of $60-80 some time soon that typically keeps all parties relatively happy.

That sudden evaporation of the war premium was bad news for energy bulls but a welcome tailwind for fuel-intensive industries. Airline stocks and cruise operators, which had been under pressure amid fears of sustained high oil, ripped higher—several names jumped 4%–5% or more as traders quickly repriced margins for a world where jet fuel may not cost the earth. i.e Delta Airlines (DAL) closed up 2.66% at $65.13.

Sector Winners: Everything but Oil

It wasn’t just travel and leisure enjoying the geopolitical reprieve. All 11 S&P 500 sectors traded higher at various points in the session, with more than 90% of index components in the green—a classic “all clear” breadth profile that suggested systematic and discretionary buyers were both back in the pool..

Financials caught a bid as lower energy prices eased some macro stress and investors leaned into rate-sensitive cyclicals despite lingering uncertainty over the Federal Reserve’s next move. Tech, and especially the mega-cap AI complex, benefited from the broad risk-on shift: when volatility steps back and crude steps down, long-duration growth cash flows suddenly look a lot more attractive on a spreadsheet—and on a trading desk.

Volatility Deflates, Fed Path Still Cloudy

The Cboe Volatility Index, Wall Street’s favored fear gauge, retreated after briefly poking above 30 in prior sessions as Middle East headlines whipsawed futures. With Monday’s rally, implied volatility slipped back toward the mid‑20s, signaling that options traders were willing to dial down tail-risk hedges, even if they weren’t quite ready to declare geopolitical risk “solved.”

On the macro front, the story is more nuanced. Economists noted that while the latest downdraft in crude eases near-term inflation anxiety, the war-driven spike in energy prices over recent weeks still complicates the Fed’s path to rate cuts later in 2026, with some desks now penciling in fewer or later cuts than they expected at the start of the year.

Wall Street’s Take: Relief Rally or Regime Change?

Strategists framed Monday’s move as a classic relief rally, born not from euphoria but from the simple realization that the worst-case scenario had been, at least temporarily, taken off the table. The combination of softer oil, tighter credit spreads, and broad equity participation fits the pattern of a market that was priced for disaster and then forced to buy back some protection once the disaster was delayed.

Still, with Iran denying substantive talks and the White House keeping the threat of future strikes very much alive if negotiations falter, nobody on Wall Street is confusing a five-day pause with a five-year peace deal. In the meantime, investors spent Monday doing what they do best: discounting the latest headline, celebrating a bit of good news, and quietly wondering whether today’s exuberance will look prescient—or premature—by the time that five-day clock runs out.

VP Watchlist Updates

Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.

Serina Therapeutics (NYSE: SER, $3.15, +24.02%)

Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.

What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.

AleAnna, Inc. (ANNA)

AleAnna, Inc. (ANNA, $5.46, +52.80% over the last 5-days) just turned a dry technical milestone—its year‑end reserves report—into something closer to an Italian energy renaissance, with proved natural gas reserves jumping 47% after a year of active production. For investors hunting for credible growth stories in a world of energy-transition buzzwords, this is one of the rare cases where the molecules are actually catching up to the marketing. Learn more here.

Eupraxia Pharmaceuticals (EPRX, $7.33, +3.24%)

Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”

Modular Medical (MODD $.1778)

GeoVax Labs (GOVX, $1.50, +2.04%)

The InterGroup Corporation (INTG, $36.59)

  • InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.

Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO)

  • Volato Group, Inc. announced (March 10) that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
  • Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
  • On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.

NVIDIA (NVDA, $175.64, +1.57%) (NOK, $8.06, +1%)

  • In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
  • Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
  • NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.

McDonald’s (MCD, $308.47)

  • In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $5.21, +6.11%)

Heartflow, Inc. (HTFL, $26.82, +3.07%)

Heartflow, Inc. (HTFL), the leader in AI technology for coronary artery disease (CAD), reported (March 18) financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights included:

  • Total revenue of $49.1 million, a 40% increase year-over-year
  • Gross margin of 79.5%, non-GAAP gross margin of 79.9%
  • Net operating loss of $17.8 million, non-GAAP net operating loss of $12.5 million
  • U.S. installed base of 1,465 accounts as of December 31, 2025
  • U.S. Plaque installed base of 489 accounts as of December 31, 2025
  • Aetna began coverage of Heartflow Plaque Analysis, bringing total U.S. covered lives for Plaque to approximately 75%

Tesla (TSLA, $380.85, +3.50%)

Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.

The Sources

Here are key sources used, in numerical order:

  1. CNBC – “Dow surges 600 points in relief rally after Trump says U.S. and Iran have had ‘productive’ talks: Live updates”[cnbc]​
    https://www.cnbc.com/2026/03/22/stock-market-today-live-updates.html
  2. MarketWatch – “Stock Market on March 23, 2026: Dow posts best day in 6 weeks, S&P 500 and Nasdaq close sharply higher as Trump pauses Iran infrastructure strikes; oil prices slide”[marketwatch]​
    https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-nasdaq-fall-oil-rises-iran-war-energy-infrastructure-dam
  3. Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq surge as Trump postpones Iran strike for now”[finance.yahoo]​
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-surge-as-trump-postpones-iran-strike-for-now-164114618
  4. Barron’s – “Stock Market Today: Dow, S&P 500, Nasdaq Surge; Tesla, TSMC, Lumentum, More Movers”[barrons]​
    https://www.barrons.com/livecoverage/stock-market-news-today-032326
  5. Yahoo Finance – “Stock market today: Dow jumps 600 points, S&P 500, Nasdaq surge as Trump signals talks with Iran; oil tumbles”[ca.finance.yahoo]​
    https://ca.finance.yahoo.com/news/stock-market-today-dow-jumps-600-points-sp-500-nasdaq-surge-as-trump-signals-talks-with-iran-oil-tumbles-200047383.html
  6. 24/7 Wall St. – “Stock Market Live March 23, 2026: S&P 500 (SPY) Soars on Trump Announcement”[247wallst]​
    https://247wallst.com/investing/2026/03/23/stock-market-live-march-23-2026-sp-500-spy-soars-on-trump-announcement
  7. Investopedia – “Markets News, March 23, 2026: Indexes End Sharply Higher, Oil Retreats as Trump Says US to Postpone Threatened Strikes on Iran Power Plants”[investopedia]​
    https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-03232026-11931982
  8. TheStreet – “Stock Market Today: Live updates, top news for March 23, 2026”[thestreet]​
    https://www.thestreet.com/latest-news/stock-market-today-march-23-2026-updates
  9. Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq futures soar as Trump postpones Iran strike, citing ‘very good’ talks”[finance.yahoo]​
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-soar-as-trump-postpones-iran-strike-citing-very-good-talks
  10. The Wall Street Journal – “Stock Market Today: Dow Rallies, Oil Skids After Trump Postpones …”[wsj]​
    https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-03-23-2026
  11. Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq soar as Trump …”[finance.yahoo]​
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-soar-as-trump-postpones-iran-strike-citing-very-good-ta
  12. CNN Business – “Oil drops, stocks soar after Trump postpones strikes on Iran”[cnn]​
    https://www.cnn.com/2026/03/23/business/stocks-dow-market
  13. Investor’s Business Daily – “Stock Market Today: Dow Jumps But These Fertilizer Stocks Stink”[investors]​
    https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-trump-iran-nvidia-tesla
  14. New York Post – “Dow rallies 745 points, oil tumbles below $100 after Trump orders 5-day pause …”[nypost]​
    https://nypost.com/2026/03/23/business/dow-futures-rally-nearly-1000-points-oil-tumbles-below-100-after-trump-orders-5-day-pause
  15. Invezz – “US stocks rise as Trump delays Iran strikes, Dow Jones gain 600 …”[invezz]​
    https://invezz.com/news/2026/03/23/us-stocks-rise-as-trump-delays-iran-strikes-dow-jones-gain-600-points/

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