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February 27, 2026

IonQ, Sezzle and a Quantum of Optimism: Today’s 10 Biggest U.S. Stock Gainers -( $SEZL $LMAT $FA $IONQ $HPP $CZR $WRBY $EFXT $FTDR $PENN )

U.S. equity markets served up a risk‑on cocktail today, with high‑octane growth and turnaround stories topping the leaderboard of price gainers. From quantum computing to buy‑now‑pay‑later, investors rediscovered their taste for future earnings—preferably delivered with triple‑digit growth rates and a side of guidance upgrades.

Below, we break down the top 10 gainers, why they surged, and what today’s moves may signal for market sentiment and SEO‑worthy stock‑picking themes.

1. Sezzle Inc. (SEZL): Buy Now, Rally Now

Sezzle sprinted more than 35% higher to roughly 85 dollars, putting the buy‑now‑pay‑later player at the top of today’s U.S. gainers list. The move followed a Q4 report that topped earnings expectations and showcased strong revenue growth, underscoring that Sezzle’s business model can generate real cash, not just clever checkout buttons.

Management’s 2026 EPS guidance, paired with expectations for mid‑20s to high‑20s percentage revenue growth, helped convince investors that Sezzle’s profitability is no longer a deferred payment. While some on the Street still preach valuation caution, today’s price action signals that the market is rewarding scale, operating leverage and disciplined credit risk in fintech.

2. LeMaitre Vascular (LMAT): Medtech Gets Its Pulse Back

LeMaitre Vascular jumped more than 20% as investors warmed to the company’s focused vascular surgery portfolio and consistent profitability. Coming off a relatively flat 52‑week performance, the stock’s sudden strength suggests that even steady medtech names can enjoy a rerating when growth visibility improves.

With a premium earnings multiple reflecting investor confidence in recurring procedure demand and product innovation, LeMaitre now sits in that rarefied category of defensive growth: boring enough to hold through volatility, but dynamic enough to justify a higher bar. In a healthcare tape often dominated by drug‑pricing headlines, quiet execution is having a loud day.

3. First Advantage (FA): Background Checks, Forward Returns

First Advantage, a technology‑enabled background‑screening company, rallied more than 20% as traders bet on a cyclical and structural rebound in hiring and verification activity. The stock had been under pressure over the past year, leaving sentiment subdued and expectations modest.

Today’s move looks like an early vote that revenue growth could be turning a corner as employers lean into digital identity, compliance and risk management. For investors, the thesis is straightforward: as long as companies keep hiring—and regulators keep caring—background checks are not going out of style.

4. IonQ (IONQ): Quantum Computing Steps Out of Theory

IonQ surged roughly 20% after delivering a blockbuster quarter and a bold multi‑year revenue outlook. The company posted eye‑catching year‑over‑year revenue growth and raised its forecasts, signaling that commercial quantum computing demand is moving beyond pilot projects.

Management’s guidance for sharply higher revenue over the next couple of years has forced the market to rethink IonQ’s timeline from speculative moonshot to emerging platform. With a sizable cash position and expanding partnerships, the company is staking a claim as one of the few pure‑play ways to express a view on quantum’s real‑world future—and today, investors were happy to superposition their risk appetite.

5. Hudson Pacific Properties (HPP): Real Estate Finds a Plot Twist

Hudson Pacific Properties, a REIT tied to office and studio assets, climbed more than 20% despite a bruising 52‑week track record that still shows the shares deeply in the red. After a year of punishing downdrafts driven by office‑sector anxiety and higher rates, even a modest hint of stabilization can spark a sharp move.

Today’s rally likely reflects a mix of bargain hunting and short covering, as traders wager that “peak pessimism” might be in the rearview mirror. This is not yet a clean growth story; it is a narrative about survivability, balance‑sheet endurance and the notion that, eventually, humans might spend slightly more time in offices than on video calls.

6. Caesars Entertainment (CZR): The House Wins Today

Caesars Entertainment rallied close to 20%, giving casino and digital‑gaming bulls something to cheer after a difficult year for the stock. Despite the bounce, the shares remain down substantially over the past 12 months, reflecting ongoing concerns about leverage, consumer spending and competitive intensity in both physical and online gaming.

The market’s enthusiasm today hints at rising confidence that cost controls, disciplined capital allocation and a normalization in travel and leisure could support better cash generation. In an age of subscription fatigue, casinos remain one of the few experiences where customers willingly opt into variable pricing—and investors, at least today, like those odds.

7. Warby Parker (WRBY): Vision Correction, Multiple Expansion

Warby Parker advanced nearly 20% as investors applauded improving execution at the digitally native eyewear brand, which continues to lean into an omnichannel strategy. Trading volume spiked well above its three‑month average, a sign that today’s rally drew broad engagement from both institutions and retail traders.

Although the stock remains modestly negative over the past year, the latest move suggests growing belief that the company can blend store expansion, digital reach and operational efficiency into a path toward more robust earnings. With a still‑lofty valuation built on brand equity and data‑driven customer acquisition, Warby Parker is trying to prove that fashionable frames and financial discipline can, in fact, coexist.

8. Enerflex Ltd. (EFXT): Energy Infrastructure Turns Up the Pressure

Enerflex rose close to 17%, extending an already powerful 12‑month run that has seen the stock more than double. The company’s focus on energy infrastructure and natural‑gas compression has positioned it squarely in the sweet spot of energy security, reliability and transition narratives.

Investors appear to be rewarding visibility into projects and cash flows in a segment that benefits from both traditional hydrocarbons and cleaner‑burning gas. Trading at a reasonable earnings multiple after such a move, Enerflex has become a case study in how “picks and shovels” plays can outperform the commodity producers they quietly serve.

9. Frontdoor (FTDR): Home Warranties, Market Applause

Frontdoor climbed almost 17% as the home‑services and warranty provider continued its steady ascent. The company has already delivered a solid year of gains, and today’s action adds momentum to a story built around recurring revenue, data and scale in home maintenance.

As homeowners face aging housing stock, rising labor costs and expensive repairs, shifting surprise expenses into a predictable plan has intuitive appeal. Investors, for their part, seem to appreciate the combination of subscription‑like revenue, improving margins and a business model that does well when water heaters, HVAC units and budgets all feel stretched.

10. PENN Entertainment (PENN): Betting on a Rebound

PENN Entertainment rounded out the top‑gainers list with a sharp advance that continues the stock’s tradition of headline‑driven volatility. After a challenging stretch marked by questions over digital wagering economics, marketing spend and strategic partnerships, the bar for good news had dropped meaningfully.

Today’s rally reflects a market willing to re‑examine the story if management can show a clearer path to sustainable profitability and capital discipline. The investment case is not about perfection; it is about simply being better than the deeply discounted expectations baked into the shares. On Wall Street, sometimes the biggest win is just beating the spread.

A Day That Rewarded Narrative and Numbers

Taken together, today’s top gainers illustrate a market ready to reward companies that offer both compelling narratives and improving numbers. On one side sit high‑growth names like Sezzle and IonQ, which paired upside surprises with confident forward guidance; on the other, early‑stage rebounds in real estate, gaming and services, where investors see mispriced optionality.

For stock pickers and SEO‑hungry headline writers alike, three threads stand out: visible growth with upgraded guidance, selective risk‑taking in beaten‑down sectors and durable demand in infrastructure‑ and service‑oriented models. Hope is not a strategy—but on a day when quantums, casinos and compressors all rallied in unison, it certainly helped the tape look a little more optimistic.

The Sources

  1. Yahoo Finance – Top Stock Gainers Today
    https://finance.yahoo.com/research-hub/screener/day_gainers/
  2. Yahoo Finance – February 2026 Insider Favorites For Growth Stocks
    https://finance.yahoo.com/news/february-2026-insider-favorites-growth-113543794.html
  3. Yahoo Finance – Sezzle Inc (SEZL) Q4 2025 Earnings Call Highlights
    https://finance.yahoo.com/news/sezzle-inc-sezl-q4-2025-050201089.html
  4. GlobeNewswire – Sezzle Reports Fourth Quarter and Fiscal Year 2025 Results
    https://www.globenewswire.com/news-release/2026/02/25/3244959/0/en/sezzle-reports-fourth-quarter-and-fiscal-year-2025-results.html
  5. Zacks – Sezzle Inc. (SEZL) Q4 Earnings and Revenues Top Estimates
    https://www.zacks.com/stock/news/2875451/sezzle-inc-sezl-q4-earnings-and-revenues-top-estimates
  6. MarketBeat – Sezzle Q4 Earnings Call Highlights
    https://www.marketbeat.com/instant-alerts/sezzle-q4-earnings-call-highlights-2026-02-26/
  7. Investing.com – Sezzle Q4 2025 Slides: 32% Revenue Growth, Margins Expand to 45%
    https://ng.investing.com/news/company-news/sezzle-q4-2025-slides-32-revenue-growth-margins-expand-to-45-93CH-2360610
  8. Public.com – Sezzle Inc (SEZL) Earnings
    https://public.com/stocks/sezl/earnings
  9. Intellectia – IonQ Shares Surge on Strong Revenue Forecast Exceeding Expectations
    https://intellectia.ai/news/stock/ionq-shares-surge-on-strong-revenue-forecast-exceeding-expectations
  10. Benzinga – IonQ Posts Strong Q4, Guides To 81% Revenue Growth In 2026
    https://www.benzinga.com/analyst-stock-ratings/analyst-color/26/02/50900159/ionq-posts-strong-q4-guides-to-81-revenue-growth-in-2026
  11. Zacks – IonQ Stock Up on Q4 Earnings & Revenue Beat, Gross Margin Down
    https://www.zacks.com/stock/news/2876009/ionq-stock-up-on-q4-earnings-revenue-beat-gross-margin-down
  12. GuruFocus – Sezzle (SEZL) Surges on Strong Q4 Earnings and Raised Guidance
    https://www.gurufocus.com/news/8653228/sezzle-sezl-surges-on-strong-q4-earnings-and-raised-guidance
  13. MLQ – IonQ Exceeds Earnings Forecasts With Strong Q4 Revenue Surge
    https://mlq.ai/news/ionq-exceeds-earnings-forecasts-with-strong-q4-revenue-surge/
February 27, 2026

Jack Dorsey’s Great Intelligence Diet: Block Sheds 4k Jobs to Feed the AI Love Story, Profits & The Citrini Thesis -( $SPY $XYZ )

Jack Dorsey’s Block (XYZ) is once again reminding Wall Street that in fintech, standing still is far riskier than swinging for the fences. The company is cutting more than 4,000 jobs—about 40% of its roughly 10,000‑plus employees—as it rewires the business around artificial intelligence, even as investors bid the stock sharply higher on the promise that “smaller, smarter, faster” may finally replace “bigger at any cost.”

Block’s Latest Efficiency Push

Block is eliminating over 4,000 positions, shrinking its global headcount from a bit above 10,000 to under 6,000 and effectively reducing nearly half of its workforce. The latest move comes on top of earlier rounds that included about 1,000 job cuts in January 2024 and 931 roles in March 2025, as the company has steadily moved away from its former growth‑at‑all‑costs staffing model.

Dorsey has framed the overhaul less as a distress maneuver and more as a philosophical reset: teams are expected to be smaller, more focused, and increasingly augmented by AI rather than layers of management. In corporate‑speak, it is an “efficiency initiative”; in tech‑speak, it is a bet that code will do what middle management used to—only with fewer meetings and, ideally, fewer slide decks.

AI at the Center of the Strategy

The restructuring is anchored in the idea that AI can automate routine workflows across payments, risk, customer support, and even slices of product development. Block is investing in automation across its Cash App, Square, and related ecosystems, seeking to reduce redundancy while keeping the platform nimble in a market where every fintech is racing to bolt AI onto its stack.

Dorsey has positioned the shift as proactive rather than reactive, placing Block in the camp of technology companies that are reshaping their workforces before AI reshapes their income statements. If software really is “eating the world,” Block appears determined to ensure it also handles some scheduling, compliance checks, and perhaps the occasional passive‑aggressive status email.

Markets Cheer the Tough Love

Investors, often accused of focusing on the next quarter, signaled strong approval for Block’s longer‑term resolve. Following the announcement of more than 4,000 job cuts tied to an AI‑led overhaul, Block’s shares jumped over 20% in extended trading, with several accounts putting the move closer to 22–24%.

The rally rested on more than rhetoric: Block has recently reported solid gross profit growth driven by Cash App and broader ecosystem momentum, alongside guidance that pointed to healthy double‑digit gains and stronger adjusted earnings than many on the Street had penciled in. In a market that now prizes profitability discipline over headcount bragging rights, investors appear eager to reward a fintech that trims thousands of roles while still promising growth.

Regulatory Clouds and BNPL Headwinds

The strategic reset arrives amid an increasingly complex regulatory backdrop. Block’s buy‑now‑pay‑later arm, Afterpay, has wrestled with losses and faces intensifying oversight as regulators scrutinize consumer credit risk and explore tougher capital, marketing, and disclosure standards for BNPL products. Cash App, meanwhile, continues to draw attention from federal authorities focused on anti‑money‑laundering and know‑your‑customer controls, amplifying the stakes for getting risk and compliance architecture right the first time.

In that environment, a leaner, more automated operation is not just about margins—it is about durability. The more Block can hard‑code compliance and risk checks into its AI‑driven infrastructure, the less it must rely on armies of people manually chasing edge cases across spreadsheets and email threads.

The Citrini Thesis and Block as an Early Mover

The February 2026 Citrini Research report, “The 2028 Global Intelligence Crisis,” sketches a darker, hypothetical future in which runaway AI adoption triggers a white‑collar employment shock, a collapse in wage growth, and a painful repricing of the financial system. In Citrini’s scenario, companies slash headcount, reinvest the savings into ever‑cheaper machine intelligence, and lock the economy into what the report calls an “intelligence displacement spiral” with no natural brake.

Seen through that lens, Block’s decision to cut over 4,000 jobs while plowing more resources into AI‑driven efficiency looks like one of the earliest real‑world expressions of the dynamic Citrini described. The company is, in effect, moving along the frontier that the report imagines: using AI to preserve output with fewer humans, even as markets cheer the margin expansion and policymakers debate what happens if that playbook scales across entire sectors.

That does not mean Citrini’s doomsday path is preordained; critics have been quick to portray the essay as “hard science fiction” rather than base case. But Block’s restructuring underscores a key point from the report that even skeptics accept: the gains from abundant machine intelligence will accrue fastest to firms willing to restructure early, while the social costs show up later and in very different places on the income statement—households, labor markets, and credit quality.

What It Means for the Fintech Playbook

Block’s transformation offers a demanding but instructive blueprint for the next chapter of fintech. Scale alone is no longer a moat; companies are being judged on their ability to convert that scale into sustainable profitability with fewer people, sharper focus, and more automation. At the same time, regulators have moved from scenery to co‑authors of the business model, particularly in payments and BNPL, forcing firms to design compliance into the product rather than bolt it on later.

For shareholders, the near‑term message is encouraging: Block is leaning into AI, cutting more than 4,000 roles—roughly 40% of its workforce—tightening its structure, and pairing those moves with stronger forward guidance that the market is actively rewarding. For employees and the broader labor market, the message is more sobering: the future of fintech is still hiring, but it increasingly prefers those who can build and train the systems, not just operate them once they are in place. And if Citrini Research is even directionally right, Block may be remembered not just as a fintech turnaround story, but as one of the first marquee names to execute the new, AI‑era corporate playbook at full scale.

The Sources


[1] Jack Dorsey Cuts Over 4,000 Jobs as Block Shrinks Workforce … https://www.ainvest.com/news/jack-dorsey-cuts-4-000-jobs-block-shrinks-workforce-2602-74/
[2] Block (SQ) Surges 24% After Announcing Major Workforce Reduction https://www.gurufocus.com/news/8659600/block-sq-surges-24-after-announcing-major-workforce-reduction
[3] Jack Dorsey’s Block cuts thousands of jobs as it embraces AI https://malaysia.news.yahoo.com/jack-dorseys-block-cuts-thousands-000646352.html
[4] Jack Dorsey’s Block looking to cut up to 10% of workforce in latest … https://finance.yahoo.com/news/jack-dorsey-block-looking-cut-193840357.html
[5] Block plans another round of layoffs – Yahoo Finance https://finance.yahoo.com/news/block-plans-another-round-layoffs-181951417.html
[6] Read the email Jack Dorsey sent when he cut 931 of Block’s staff https://techcrunch.com/2025/03/25/read-the-email-jack-dorsey-sent-when-he-cut-931-of-blocks-staff/
[7] US fintech Block reportedly laying off 931 staff https://www.fintechfutures.com/job-cuts-new-hires/us-fintech-block-reportedly-laying-off-931-staff
[8] Jack Dorsey’s Block Slashes Nearly Half Its Staff in AI Bet https://www.bloomberg.com/news/articles/2026-02-26/jack-dorsey-s-block-slashes-nearly-half-of-workforce-in-ai-bet
[9] Block Plans to Lay Off Nearly Half Its Staff, Betting on AI to Boost … https://www.ainvest.com/news/block-plans-lay-staff-betting-ai-boost-company-efficiency-2602-80/
[10] Block Lays Offs Nearly Half Its Workforce in AI-Driven Overhaul https://mlq.ai/news/block-lays-offs-nearly-half-its-workforce-in-ai-driven-overhaul/
[11] Block becomes the latest fintech to lay off workers – TechCrunch https://techcrunch.com/2024/01/30/block-becomes-the-latest-fintech-to-lay-off-workers/
[12] Earnings live: Block stock surges over 20% after Jack Dorsey cuts … https://uk.finance.yahoo.com/news/earnings-live-block-stock-surges-over-20-after-jack-dorsey-cuts-nearly-half-of-staff-dell-stock-jumps-220241966.html
[13] Block Stock Surges Over 20% Following Workforce Reduction and … https://intellectia.ai/news/stock/block-stock-surges-over-20-following-workforce-reduction-and-strong-2026-guidance
[14] Earnings live: Block stock surges over 20% after Jack Dorsey cuts … https://finance.yahoo.com/news/live/earnings-live-block-stock-surges-over-20-after-jack-dorsey-cuts-nearly-half-of-staff-dell-stock-jumps-220241966.html
[15] Block (SQ) Deep Dive: The 2026 Rule of 40 Reckoning – Markets http://markets.chroniclejournal.com/chroniclejournal/article/finterra-2026-2-26-block-sq-deep-dive-the-2026-rule-of-40-reckoning
[16] THE 2028 GLOBAL INTELLIGENCE CRISIS – Citrini Research https://www.citriniresearch.com/p/2028gic
[17] Citrini Research’s ‘2028 Global Intelligence Crisis’: How Worried … https://seekingalpha.com/article/4874066-citrini-researchs-2028-global-intelligence-crisis-how-worried-should-we-be
[18] THE 2028 GLOBAL INTELLIGENCE CRISIS – Askwho Casts AI https://askwhocastsai.substack.com/p/the-2028-global-intelligence-crisis
[19] Doomsday AI report goes viral after warning the importance of … https://uk.finance.yahoo.com/news/doomsday-ai-report-goes-viral-175626403.html
[20] Decoded: The viral doomsday AI memo that roiled Wall Street https://economictimes.com/markets/us-stocks/news/decoded-the-viral-doomsday-ai-memo-that-roiled-wall-street/articleshow/128773322.cms
[21] FREE PREVIEW: 26 Trades for 2026 – Citrini Research https://www.citriniresearch.com/p/free-preview-26-trades-for-2026
[22] Citadel Securities demolishes viral doomsday AI essay https://fortune.com/2026/02/26/citadel-demolishes-viral-doomsday-ai-essay-citrini-macro-fundamentals-engels-pause/
[23] New report on AI strikes fear on Wall Street – WVTF https://www.wvtf.org/2026-02-24/new-report-on-ai-strikes-fear-on-wall-street
[24] The Talent Industry’s Citrini Moment – Forbes https://www.forbes.com/sites/johnwinsor/2026/02/26/the-talent-industrys-citrini-moment/
[25] The Citrini post is just a scary bedtime story – Noahpinion https://www.noahpinion.blog/p/the-citrini-post-is-just-a-scary
[26] A Viral AI Doomsday Report Just Shook Wall Street – Inc. Magazine https://www.inc.com/brian-contreras/viral-ai-doomsday-report-citrini-research-automation-stock-market-dip/91307712
[27] Block weighs workforce reduction of up to 10% amid ongoing … https://finance.yahoo.com/news/block-weighs-workforce-reduction-10-113428850.html
[28] Jack Dorsey Faces Employee Backlash After Mass Layoffs and AI … https://www.inc.com/kevin-haynes/jack-dorsey-faces-employee-backlash-after-mass-layoffs-and-ai-mandates-at-block-inc/91306381
[29] The 2026 Global Intelligence Crisis – Citadel Securities https://www.citadelsecurities.com/news-and-insights/2026-global-intelligence-crisis/
[30] Viral ‘2028 Global Intelligence Crisis’ Report Models Potential AI … https://finance.yahoo.com/news/viral-2028-global-intelligence-crisis-153100275.html
[31] Citrini’s 2028 Intelligence Crisis: A Hard Science Fiction Scenario https://www.linkedin.com/posts/emollick_i-see-a-lot-of-attention-being-paid-to-a-activity-7431726164714455042-GW-z
[32] The 2028 Global Intelligence Crisis — And the Half They Didn’t Write https://colinmcnamara.com/blog/global-intelligence-crisis-missing-half

February 26, 2026

FIGS Doubles Down on Healthcare Chic: Record Q4, Healthier Margins, and a Raymond James Runway -( $FIGS )

FIGS just put up the kind of quarter that makes even seasoned healthcare investors sit up a little straighter in their ergonomic chairs. The direct‑to‑consumer scrubs innovator grew fourth‑quarter 2025 net revenues 33% year over year to a record 201.9 million dollars, while expanding net income margin to 9.2% and delivering a 13.2% adjusted EBITDA margin. For a company once pigeonholed as a “pandemic darling,” the latest print reads more like the opening act of a durable growth story than a rerun of 2020 nostalgia.

Management is simultaneously guiding to low double‑digit revenue growth and margin improvement in 2026, signaling the confidence to grow the top line without sacrificing profitability. In other words, FIGS is no longer just selling better scrubs; it is steadily stitching together a real economic moat in healthcare apparel.

From Functional to Financial Performance

The most striking feature of the quarter is how neatly the operating story lines up with the financial one. FIGS’ record Q4 revenue base suggests robust engagement from its core community of healthcare professionals, amplified by its founder‑led, direct‑to‑consumer model. That model lets the company control product, brand, and margin in a way legacy uniform suppliers can only envy from the supply closet.

At the same time, a 9.2% net income margin on a fast‑growing revenue base shows that FIGS is learning to scale like a mature consumer brand, not just a niche e‑commerce upstart. The 13.2% adjusted EBITDA margin offers a buffer for continued investment in marketing, product innovation, and international expansion while still giving investors the operating leverage they want to see.

Earnings Call to Investor Catwalk

The financial results set the stage; the investor relations calendar now reads like a runway show. FIGS has locked in a slot at the Raymond James 46th Annual Institutional Investors Conference on March 3, 2025, with CEO and co‑founder Trina Spear and CFO Sarah Oughtred headlining a fireside chat at 11:00 a.m. Eastern. For a brand built on elevating the everyday uniform, the Orlando event doubles as a tailored opportunity to tighten its fit with the institutional investor base.

The appearance will be webcast and archived for 90 days, a subtle but important reminder that FIGS sees its investor communications as another always‑on channel, much like its relationship with healthcare professionals. For portfolio managers, the session should offer more color on capital allocation, category expansion, and how FIGS intends to sustain double‑digit growth without letting margins fray at the edges.

A Founder‑Led Brand with Global Ambitions

Underpinning the quarter is a brand architecture that increasingly looks built for the long haul. FIGS describes itself as a global leading healthcare apparel and lifestyle brand, dedicated to improving the lives of healthcare professionals through technically advanced products that blend comfort, durability, function, and style. That positioning matters: it moves the story beyond scrubs into a broader ecosystem of healthcare lifestyle, community, and advocacy.

The company already serves healthcare professionals across North America, Europe, the Asia‑Pacific region, and the Middle East, and also sells into institutions through its TEAMS platform. With a stronger balance sheet coming out of 2025 and improving profitability, FIGS now has the financial flexibility to keep seeding international markets, expand its assortment, and deepen its presence inside hospital systems—all while maintaining the direct‑to‑consumer DNA that powers its brand.

Why Wall Street’s Stethoscope Is Back on FIGS

For investors, the latest developments do three things at once: they de‑risk the near‑term earnings profile, re‑ignite the growth narrative, and showcase a management team comfortable on both the earnings stage and the conference circuit. Record fourth‑quarter revenue, expanding profitability, and constructive guidance for 2026 give FIGS fresh credibility as a scalable, cash‑generating consumer brand in a structurally resilient end market.

Layer on a high‑visibility Raymond James appearance and a clearly articulated mission to “always have the backs” of healthcare professionals worldwide, and the stock starts to look less like a speculative trade and more like a long‑term brand compounder in scrubs. In a market that constantly hunts for durable, defendable growth, FIGS is quietly reminding Wall Street that sometimes the most interesting fashion stories are the ones being written in hospitals, clinics, and operating rooms.

The Sources

  1. FIGS Releases Fourth Quarter and Full Year 2025 Financial Results – Yahoo Finance
    https://finance.yahoo.com/news/figs-releases-fourth-quarter-full-210500455.html[finance.yahoo]​
  2. FIGS Releases Fourth Quarter and Full Year 2024 Financial Results – FIGS Investor Relations
    https://ir.wearfigs.com/news/news-details/2025/FIGS-Releases-Fourth-Quarter-and-Full-Year-2024-Financial-Results/[ir.wearfigs]​
  3. FIGS Announces Participation in the Raymond James 46th Annual Institutional Investors Conference – Yahoo Finance
    https://finance.yahoo.com/news/figs-announces-participation-raymond-james-210500062.html
  4. FIGS Announces Participation in the Raymond James 46th Annual Institutional Investors Conference – FIGS Investor Relations
    https://ir.wearfigs.com/news/news-details/2025/FIGS-Announces-Participation-in-the-Raymond-James-46th-Annual-Institutional-Investor-Conference/default.aspx[ir.wearfigs]​
  5. FIGS at 46th Annual Raymond James Institutional Investor Conference – FIGS Events & Presentations
    https://ir.wearfigs.com/events-and-presentations/event-details/2025/FIGS-at-46th-Annual-Raymond-James-Institutional-Investor-Conference/default.aspx[ir.wearfigs]​
February 26, 2026

February 26, 2026 – Wall Street Walks Into a Bar: Nvidia Pays the Tab, Tech Stocks Nurse the Hangover -( $DV $EPRX $FIGS $INTG $MCD $OPEN $SER Rise!)

Major U.S. stock indexes closed mixed on Thursday, February 26, 2026, with technology shares under pressure even as broader cyclicals and small caps showed resilience. The session highlighted ongoing investor tension between enthusiasm for AI-driven growth and concern about stretched valuations and policy uncertainty.

Major Indexes

The S&P 500 fell about 0.5% to roughly 6,909, snapping a two‑day advance as tech and communication services weighed on the benchmark. The Nasdaq Composite lost about 1.2% to around 22,878, reflecting concentrated weakness in megacap growth and chip stocks. The Dow Jones Industrial Average was roughly flat, edging up around 0.03% to near 49,499, while the Russell 2000 gained about 0.5% to 2,677 as investors rotated into smaller domestically focused names.

Sector Highlights

Technology and semiconductor stocks led declines as traders took profits in AI leaders following a strong multi‑month run. Financials, real estate, and some industrial names outperformed, helped by stable yields and optimism that growth can remain solid even as inflation drifts closer to central bank targets. Healthcare and select biotech names attracted defensive interest, with investors continuing to favor large, cash‑generative platforms alongside a curated list of high‑conviction innovators.

Key Corporate Updates

Nvidia delivered another blockbuster quarter, with fiscal Q4 revenue around 68 billion dollars, up more than 70% year‑over‑year on surging data‑center and AI server demand, and guidance that topped Wall Street expectations. Despite the beat, the stock fell roughly 5% as investors focused on the pace of future growth, supply‑chain capacity, and the company’s willingness to return more cash via buybacks and dividends, which weighed on the broader chip complex. Across the AI ecosystem, sentiment was mixed: some cloud and infrastructure names saw modest gains on the back of Nvidia’s spending signals, while highly valued software and model‑centric plays faced renewed scrutiny over premium multiples.

In healthcare, Street research and screeners highlighted a fresh list of “promising pharmaceutical” and “top biotech” names to watch, reinforcing ongoing interest in rare‑disease, oncology, and metabolic‑disease pipelines as potential 2026 outperformers. Deal and capital‑markets activity remained active at the margin, including continued use of at‑the‑market equity programs by emerging biotechs seeking to extend cash runways into upcoming data catalysts.

Macroeconomic, Interest Rate, and Mortgage Backdrop

Weekly U.S. jobless claims ticked up by about 4,000 to a still‑low 212,000, underscoring a labor market that is cooling from 2024’s pace but remains broadly stable. Inflation nowcasting from the Cleveland Fed points to year‑over‑year CPI running in the mid‑2% range for February, suggesting that price pressures have eased materially from prior peaks but have not yet fully settled at the Fed’s 2% goal. An IMF Article IV assessment released this week projected U.S. growth around the mid‑2% range in 2026 with inflation gradually converging to target by early 2027, reinforcing the “soft‑landing” narrative underpinning risk assets.

The Federal Reserve is holding the federal funds rate in a 3.5% to 3.75% range after a series of cuts in 2025, with policymakers signaling patience before any further easing. Fed officials, including Chicago Fed President Austan Goolsbee, reiterated that several additional cuts are possible later in 2026 but stressed they will not accelerate the process without clearer evidence that inflation is durably returning to 2%. Treasury yields drifted lower on the day as investors weighed the steady‑growth, cooling‑inflation backdrop and looked ahead to upcoming inflation releases and Fed communication.

Against that policy setting, mortgage financing conditions have continued to improve. The average 30‑year fixed mortgage rate sits around 5.8% to 5.9% today, down notably from roughly 6.8% a year ago, while 15‑year fixed rates hover in the mid‑5% range. Refinance rates are higher than primary purchase rates but have also declined, with 30‑year refi offers clustering near 6% to 6.6%, prompting renewed interest from borrowers who locked in at the cycle peak in 2023–2024.

Commodities and Precious Metals

Silver traded in the upper‑80‑dollar‑per‑ounce range, slipping about 1% on the day but holding sizable year‑to‑date gains as investors balance industrial demand with its role as a partial inflation hedge. Gold remained anchored just above the 5,100‑dollar‑per‑ounce mark, supported by central‑bank buying and lingering geopolitical risk even as real yields stay positive.

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.

Eupraxia Pharmaceuticals (EPRX, $8.16, $1.61%)

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, is pleased to announce the successful closing of its previously announced public offering (the “Offering”) of 7,607,145 common shares of the Company (the “Common Shares”), which includes the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of US$7.00 per Common Share, and pre-funded warrants to purchase up to 1,428,571 Common Shares in lieu thereof (the “Pre-Funded Warrants”) at a price of US$6.99999 per Pre-Funded Warrant, which equals the public offering price per Common Share less the C$0.000001 per share exercise price of each Pre-Funded Warrant, for gross proceeds of approximately US$63.2 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering.“We are pleased to complete this financing, allowing us to significantly expand our pipeline, reach several additional development milestones with EP-104GI for eosinophilic esophagitis, and make meaningful progress towards commercial readiness,” said James Helliwell, CEO of Eupraxia. “We appreciate the support from both existing and new investors as we execute our mission and pursue the next phase of growth for Eupraxia.” Cantor and LifeSci Capital acted as joint book-running managers for the Offering. Bloom Burton and Craig-Hallum also acted as co-managers for the Offering. As previously stated, the Company intends to use the net proceeds from the Offering primarily for the continued advancement of EP-104GI for Eosinophilic Esophagitis, including the completion of ongoing preclinical studies, and Phase 2 clinical trials, preparations for a Phase 3 clinical trial including the related regulatory submissions, and manufacturing activities, and to undertake the necessary commercial/market development activities to prepare for the eventual product launch. The Company also intends to use a portion of the proceeds to accelerate and expand its plans to pursue clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in esophageal strictures and fibrostenotic Crohn’s disease. A portion of the proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include but are not limited to employee salaries, working capital, leases for facilities, administrative expenses, and capital expenditures. The Company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth.

Modular Medical (MODD)

  • Closed at $.4501. Has been trading as a diabetes‑tech name, with shares reacting to execution milestones around its Pivot tubeless patch pump platform.Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.
  • Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.

FIGS, Inc. (FIGS, $12.47, +13.78%)

  • FIGS, the direct‑to‑consumer healthcare apparel brand, operates at the intersection of e‑commerce and specialty retail, with a loyal professional customer base and a growing product portfolio. While macro headwinds and digital‑ad volatility have pressured some consumer names, FIGS’ brand equity in the medical community and ongoing product innovation offer levers for renewed growth as conditions normalize.
  • After the close today (Feb. 26), FIGS released its fourth quarter and full year 2025 financial results and published a financial highlights presentation on its investor relations highlighting the following: Exceeded Top and Bottom Line Expectations, Grew Q4 2025 Net Revenues 33.0% to a Record $201.9 Million, Achieved Q4 2025 Net Income Margin of 9.2% and Adjusted EBITDA Margin of 13.2% & Plans Low Double-Digit Net Revenues Growth and Margin Expansion in FY 2026. FIGS shares have traded up to $13.74 in the aftermarket today.

GeoVax Labs (GOVX, $1.60)

DoubleVerify (DV, $9.53, +0.00%)

  • DoubleVerify, the leading software platform for digital media measurement, data and analytics, today announced financial results for the fourth quarter and full year ended December 31, 2025 and highlighted the following: Increased 2025 Revenue by 14% Year-over-Year to $748.3 Million, Driven by Global Growth in Social, CTV Measurement, and Programmatic Activation, Achieved 2025 Net Income of $50.7 Million and Adjusted EBITDA of $245.6 Million, representing a 33% Adjusted EBITDA margin, & $300 Million Authorized for Share Repurchases, the Largest Amount in DoubleVerify’s History.

The InterGroup Corporation (INTG, $30.36, +2.78%)

  • 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.

Serina Therapeutics (SER, $1.81, +2.26%)

  • Serina Therapeutics, a clinical-stage biotechnology company advancing drug candidates enabled by its proprietary POZ Platform™ drug optimization technology, announced (Feb. 19) that the first patient has been enrolled in the Company’s Phase 1b registrational trial evaluating. The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with advanced Parkinson’s disease whose symptoms are inadequately controlled by current standard-of-care therapies. Serina remains on track to initiate dosing during the current quarter, consistent with previously disclosed guidance.

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

  • 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, $185.89)

  • Nvidia delivered strong fourth-quarter results, 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.

McDonald’s (MCD, $334.53, +.46%)

  • Options data around the February 2026 expiries highlight active positioning near the 300–305 strike range, consistent with expectations for steady but not explosive upside from here.
  • 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.

Nokia (NOK, $7.50)

Opendoor (OPEN, $5.41, +8.63%)

The Sources

  1. Reuters – “Nvidia’s results beat estimates, but Wall Street wants more cash return”
    https://www.reuters.com/world/asia-pacific/nvidia-forecasts-first-quarter-sales-above-estimates-2026-02-25/[reuters]​
  2. CNBC – “Stock market news for Feb. 26, 2026”
    https://www.cnbc.com/2026/02/25/stock-market-today-live-updates.html[cnbc]​
  3. Investopedia – “Stock Market Today: Major Indexes End Mostly Lower After Two-Day …”
    https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-02262026-11914836[investopedia]​
  4. Yahoo Finance – “How major US stock indexes fared Thursday, 2/26/2026”
    https://finance.yahoo.com/news/major-us-stock-indexes-fared-211836919.html[finance.yahoo]​
  5. The Wall Street Journal – “Stock Market Today: Nvidia Stock Falls After Earnings; Dow Rises”
    https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-02-26-2026[wsj]​
  6. TheStreet – “Stock Market Today, Feb. 26: Nasdaq falls nearly 2% despite strong …”
    https://www.thestreet.com/latest-news/stock-market-today-feb-26-nasdaq-falls-nearly-2-despite-strong-nvidia-earnings[thestreet]​
  7. Nasdaq – “Stock Market News for Feb 26, 2026”
    https://www.nasdaq.com/articles/stock-market-news-feb-26-2026[nasdaq]​
  8. Kiplinger – “Nvidia Earnings: Live Updates and Commentary February 2026”
    https://www.kiplinger.com/investing/live/nvidia-earnings-live-updates-and-commentary-february-2026[kiplinger]​
  9. MarketBeat – “Promising Pharmaceutical Stocks To Follow Now – February 26th”
    https://www.marketbeat.com/instant-alerts/promising-pharmaceutical-stocks-to-follow-now-february-26th-2026-02-26/[marketbeat]​
  10. MarketBeat – “Top Biotech Stocks To Follow Now – February 26th”
    https://www.marketbeat.com/instant-alerts/top-biotech-stocks-to-follow-now-february-26th-2026-02-26/[marketbeat]​
  11. Zacks – “Best Biotech Stocks to Buy for February 2026”
    https://www.zacks.com/featured-articles/381/best-biotech-stocks[zacks]​
  12. Nasdaq – “This Rare‑Disease Specialist Has a Superior Portfolio and Pipeline”
    https://www.nasdaq.com/articles/forget-centessa-pharmaceuticals-rare-disease-specialist-has-superior-portfolio-and[nasdaq]​
  13. Davis Polk – “Recursion Pharmaceuticals $300 million at-the-market offering”
    https://www.davispolk.com/experience/recursion-pharmaceuticals-300-million-market-offering-february-2026[davispolk]​
  14. FXStreet – “Silver price today: falls on February 26”
    https://www.fxstreet.com/news/silver-price-today-silver-falls-according-to-fxstreet-data-202602260930[fxstreet]​
  15. Fortune – “Current price of silver as of Thursday, February 26, 2026”
    https://fortune.com/article/current-price-of-silver-2-26-2026/[fortune]​
  16. CBS News – “What is the price of silver today: February 26, 2026?”
    https://www.cbsnews.com/news/price-of-silver-today-february-26-2026/[cbsnews]​
  17. USAGOLD – “Daily Silver Price History”
    https://www.usagold.com/daily-silver-price-history/[usagold]​
  18. Reuters – “US weekly jobless claims rise slightly; unemployment rate …”
    https://www.reuters.com/world/us/us-weekly-jobless-claims-increase-marginally-labor-market-stabilizes-2026-02-26/[reuters]​
  19. IMF – “Press Briefing Transcript: U.S. 2026 Article IV Consultation Mission”
    https://www.imf.org/en/news/articles/2026/02/26/tr-0225206-press-briefing-transcript-conclusion-of-2026-us-aiv-consultation-miss[imf]​
  20. Federal Reserve – “Federal Reserve issues FOMC statement”
    https://www.federalreserve.gov/newsevents/pressreleases/monetary20260128a.htm[federalreserve]​
  21. Charles Schwab – “Fed Interest Rates: FOMC Cuts Rates”
    https://www.schwab.com/learn/story/fomc-meeting[schwab]​
  22. Federal Reserve Bank of Cleveland – “Inflation Nowcasting”
    https://www.clevelandfed.org/indicators-and-data/inflation-nowcasting[clevelandfed]​
  23. CNBC – “Treasury yields fall as investors await more economic data”
    https://www.cnbc.com/2026/02/26/us-treasury-yields-investors-await-more-economic-data-.html[cnbc]​
  24. Reuters – “Odds of early Warsh-led Fed rate cuts slide with bullish outlook”
    https://www.reuters.com/business/odds-early-warsh-led-fed-rate-cuts-slide-with-bullish-outlook-2026-02-26/[reuters]​
  25. Reuters – “Fed’s Goolsbee forecasts several more rate cuts this year, but not soon”
    https://www.reuters.com/business/feds-goolsbee-forecasts-several-more-rate-cuts-this-year-not-soon-2026-02-26/[reuters]​
  26. CBS News – “What are today’s mortgage interest rates: February 26, 2026?”
    https://www.cbsnews.com/news/todays-mortgage-interest-rates-february-26-2026/[cbsnews]​
  27. Fortune – “Current refi mortgage rates report for Feb. 26, 2026”
    https://fortune.com/article/current-refi-mortgage-rates-02-26-2026/[fortune]​
  28. Yahoo Finance – “Mortgage rates fall below 6% for first time in over 3 years”
    https://finance.yahoo.com/personal-finance/mortgages/article/mortgage-refinance-interest-rates-today-thursday-february-26-2026-1[finance.yahoo]​

February 25, 2026

Nvidia’s AI Money Machine: How One Chipmaker Turned Data Centers Into Cash Factories -( $AMZN $CAT $GOOG $LLY $MSFT $NVDA $ORCL )

Nvidia’s latest quarter reads less like an earnings release and more like a balance sheet for the AI industrial revolution, with revenue, profits, and guidance all accelerating as if on GPU overclock.

Record Quarter: When “Blowout” Sounds Too Modest

Nvidia reported fourth-quarter revenue of 68.1 billion dollars, up 20% sequentially and 73% year over year, a scale that now makes traditional chip cycles look almost quaint. GAAP gross margin reached 75.0%, with operating income of 44.3 billion dollars and net income of 43.0 billion dollars, nearly doubling from the prior year’s period. Diluted earnings per share clocked in at 1.76 dollars, up 35% from the prior quarter and 98% from a year ago, underscoring how much of each incremental AI dollar is flowing straight to the bottom line.

For the full fiscal year 2026, Nvidia generated 215.9 billion dollars in revenue, up 65% year over year, with net income of 120.1 billion dollars and GAAP EPS of 4.90 dollars, cementing its role as the de facto platform company for accelerated computing. Operating cash flow reached 102.7 billion dollars for the year, and free cash flow hit 96.6 billion dollars, giving the company ample fuel to invest in new architectures while still rewarding shareholders.

Data Center: The New “AI Factory” Standard

The core of Nvidia’s story remains the data center business, which has evolved from a growth engine into something closer to critical infrastructure for the AI economy. Data center revenue in the fourth quarter reached 62.3 billion dollars, up 22% sequentially and 75% year over year, driven by accelerating demand for AI and accelerated computing platforms. Full-year data center revenue climbed 68% to 193.7 billion dollars, a number that would have sounded speculative just a few product cycles ago.

Nvidia unveiled its Rubin platform, a new generation of chips designed to deliver up to a 10x reduction in inference token cost compared with the already-formidable Blackwell platform, with hyperscalers including Amazon Web Services, Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure among the first adopters. The company also highlighted Blackwell Ultra, which it says can deliver up to 50x better performance and 35x lower cost for “agentic AI” workloads versus the Hopper platform, a reminder that the performance bar in AI is being raised in large, discrete steps rather than incremental tweaks.

Beyond Chips: Ecosystem, Partnerships, And AI Reach

If early Nvidia was a GPU company, this version increasingly resembles an AI operating system spanning silicon, software, and services. The quarter showcased a dense web of partnerships: a multiyear, multigenerational strategic agreement with Meta for large-scale deployment of Blackwell and Rubin GPUs, CPUs, and networking; deeper collaboration with AWS on interconnects, cloud infrastructure, and open models; and an investment and technology partnership with Anthropic as it scales Claude on Azure using Nvidia systems.

The company is also extending its reach into specialized domains, announcing a co-innovation AI lab with Eli Lilly to reinvent drug discovery and a major expansion of its BioNeMo platform for AI-based biology. In physical and industrial AI, Nvidia is working with Boston Dynamics, Caterpillar, LG and others through its Isaac and Cosmos stacks, while teaming with Siemens and Dassault Systèmes to build industrial AI platforms and virtual twin ecosystems—turning AI from a concept into an operating layer for factories and infrastructure.

Gaming, Pro Visualization, And Autos: Side Businesses With Billion-Dollar Scale

While data center steals the headlines, Nvidia’s “other” segments would be headline businesses at most technology firms. Gaming revenue came in at 3.7 billion dollars in the quarter, up 47% year over year but down 13% sequentially as channel inventory normalized after a strong holiday season, with full-year gaming revenue up 41% to a record 16.0 billion dollars. The company pushed its AI edge into consumer graphics with DLSS 4.5, new G-SYNC Pulsar display technology, and faster RTX AI performance that can accelerate large language model inference on PCs and boost AI-generated visuals.

Professional visualization revenue surged to 1.3 billion dollars in the quarter, up 74% sequentially and 159% year over year, as demand for Blackwell-powered RTX workstations expanded, lifting full-year revenue in the segment by 70% to 3.2 billion dollars. Automotive and robotics revenue reached 604 million dollars in the fourth quarter, rising 2% sequentially and 6% year over year, with full-year revenue up 39% to 2.3 billion dollars, supported by partnerships with Mercedes-Benz and a growing DRIVE Hyperion ecosystem that now includes a range of Tier 1 suppliers and sensor partners.

Capital Returns, Guidance, And The AI Industrial Revolution

Even as Nvidia invests aggressively in new platforms like Rubin, Nemotron 3, Earth-2 weather models, and AI-native storage, it is returning substantial capital to shareholders. During fiscal 2026 the company returned 41.1 billion dollars via share repurchases and dividends, and it still had 58.5 billion dollars remaining under its repurchase authorization at year-end; the next quarterly dividend of 0.01 dollars per share is scheduled for April 1, 2026.

Looking ahead, Nvidia guided first-quarter fiscal 2027 revenue to 78.0 billion dollars, plus or minus 2%, with expected GAAP gross margin of 74.9% and non-GAAP gross margin of 75.0%, notably without assuming any data center compute revenue from China. CEO Jensen Huang framed the moment succinctly, noting that “computing demand is growing exponentially” and that the “agentic AI inflection point has arrived,” positioning Nvidia’s Grace Blackwell with NVLink as “the king of inference” today, with Vera Rubin set to extend that lead. Wall Street may debate whether this is an AI boom or a new computing regime, but Nvidia’s latest quarter makes one thing clear: for now, it is the house in this particular casino—and the chips are very much in its favor.

The Sources

  1. Nvidia Announces Financial Results for Fourth Quarter and Fiscal 2026 – Yahoo Finance
    https://finance.yahoo.com/news/nvidia-announces-financial-results-fourth-213100479.html[finance.yahoo]​
  2. NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2026 – Nvidia Investor Relations
    http://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-fourth-quarter-and-fiscal-2026[nvidianews.nvidia]​
  3. Nvidia Stock Pops as Earnings Beat, Guidance Stifles Some AI Concerns – Yahoo Finance
    https://finance.yahoo.com/news/live/nvidia-earnings-live-nvidia-stock-pops-as-earnings-beat-guidance-stifles-some-ai-concerns-21[finance.yahoo]​
  4. Tech Stocks Today: Nvidia Stock Rises as Guidance Signals AI Boom Alive and Well – Yahoo Finance
    https://finance.yahoo.com/news/live/tech-stocks-today-nvidia-stock-rises-as-guidance-signals-ai-boom-alive-and-well-220259696.ht[finance.yahoo]​
  5. Nvidia Q4 FY 2025: AI Growth Continues Amid Margin Pressures – The Futurum Group
    https://futurumgroup.com/insights/nvidia-q4-fy-2025-ai-momentum-strengthens-despite-margin-pressures/[futurumgroup]​
  6. NVIDIA Corp (NVDA) Q4 2025 Earnings Call Highlights – Yahoo Finance transcript
    https://finance.yahoo.com/news/nvidia-corp-nvda-q4-2025-072422920.html[finance.yahoo]​
  7. Nvidia Earnings Live Updates: Stock Rises As Revenue, EPS Beat – Business Insider
    https://www.businessinsider.com/nvidia-q4-earnings-live-updates-ai-chips-rubin-jensen-huang-2026-2[businessinsider]​
  8. What AI Bubble? Nvidia Posts Record 68 Billion Dollar Quarterly Revenue – Fortune
    https://fortune.com/2026/02/25/nvidia-nvda-earnings-q4-results-jensen-huang/[fortune]​
  9. Nvidia Corporation (NVDA) Stock Price, News, Quote & History – Yahoo Finance
    https://finance.yahoo.com/quote/NVDA/[finance.yahoo]​
  10. Why Nvidia Stock Is Soaring in After-Hours Trading – Yahoo Finance
    https://finance.yahoo.com/news/why-nvidia-stock-soaring-hours-224657731.html[finance.yahoo]​
February 25, 2026

February 25, 2026 – AI Trade Reignited: Nvidia’s Guidance Tops Forecasts, Nasdaq Leads Market Gains -( $AMT $DV $FIGS $GOVX $NOK $NVDA $QQQ $PLTR $SER $WDC Rise!)

US stocks extended this week’s rebound on Wednesday, February 25, 2026, with a tech-led advance ahead of and then through Nvidia’s blockbuster earnings release after the bell.

Index performance

The S&P 500 rose about 0.8% to roughly 6,946, marking a second straight gain after Monday’s pullback and underscoring renewed buying interest in large-cap growth. The Dow Jones Industrial Average added about 0.6% to 49,482, helped by strength in big-tech components and select industrials tied to the AI and cloud capex cycle. The Nasdaq Composite outperformed, climbing nearly 1.3% to around 23,152 as mega-cap tech and AI-related names regained momentum. The Russell 2000 gained about 0.4%, participating in the risk-on tone but continuing to trail the mega-cap complex.

Nvidia and the AI trade (post-earnings)

After the close, Nvidia (NVDA, $195.56, +1.41% and trading north of $200 in the after-hours) delivered another emphatic beat, reinforcing the AI leadership narrative and validating the market’s focus on the quarter. The company reported fourth-quarter revenue of about $68.1 billion, a new record and well above already‑lofty expectations centered in the mid‑$60 billion range. Adjusted earnings came in around $1.62 per share, topping consensus and reflecting strong operating leverage on surging data center demand.

Data center remained the core growth engine, generating roughly $62.3 billion in quarterly revenue, up about 75% year over year and more than 20% sequentially as hyperscalers and enterprises continued to race to add AI compute capacity. Other segments, including gaming/AI PC, professional visualization, and automotive, also posted solid year‑on‑year gains, but the story remained firmly centered on large-scale AI infrastructure build‑outs. Management’s commentary highlighted that customers are “racing to invest in AI compute,” framing Nvidia’s platforms as the backbone of an emerging “AI industrial revolution.”

Forward guidance was equally critical for market sentiment: Nvidia projected first‑quarter revenue in a range of roughly $76–80 billion, materially above Street forecasts that sat around $72 billion heading into the print. The company guided to a non‑GAAP gross margin near 75%, signaled that it has secured inventory and capacity to support demand for the next several quarters, and noted that the outlook does not assume meaningful data center compute revenue from China. In after‑hours trading, Nvidia shares popped as investors digested the combination of record results and stronger‑than‑expected guidance, a move with clear read‑throughs for the broader AI, semiconductor, and mega‑cap tech complex into tomorrow’s session.

Sector and stock dynamics

During the regular session, tech and communication services led the tape, while more defensive pockets of the market lagged. AI and chip names, including Nvidia, Western Digital (WDC, $290.95, +7.53%), Palantir ($134.19, +4.15%), and Applied Materials (AMT, $394.95, +4.50%), saw notable gains as investors rotated back into perceived AI winners ahead of the release. Large-cap software also participated, with Salesforce and peers extending a recovery from earlier-week pressure on higher-multiple growth names. By contrast, more rate‑sensitive or defensive sectors such as utilities and parts of consumer staples underperformed, consistent with a session defined by renewed appetite for growth and cyclicals.

Macro backdrop and market tone

The broader backdrop remained one of cautious optimism as traders balanced resilient earnings from tech leaders with lingering uncertainty around the path of Federal Reserve policy and the sustainability of AI-driven capital spending. Recent sessions have seen volatility cool as major indexes claw back losses, but positioning remains highly sensitive to Nvidia’s guidance and any shift in expectations for the next leg of the AI investment cycle. With the Nasdaq still a few percent below its late‑2025 record, today’s action reflects a market willing to lean back into risk while staying quick to reprice if AI or rate narratives change. Nvidia’s post‑close beat and raised outlook now set the tone for Thursday’s trade, with implications that extend well beyond a single stock into the broader AI, semiconductor, and growth‑equity complex.

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.

Eupraxia Pharmaceuticals (EPRX, $8.05)

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, is pleased to announce the successful closing of its previously announced public offering (the “Offering”) of 7,607,145 common shares of the Company (the “Common Shares”), which includes the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of US$7.00 per Common Share, and pre-funded warrants to purchase up to 1,428,571 Common Shares in lieu thereof (the “Pre-Funded Warrants”) at a price of US$6.99999 per Pre-Funded Warrant, which equals the public offering price per Common Share less the C$0.000001 per share exercise price of each Pre-Funded Warrant, for gross proceeds of approximately US$63.2 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering.“We are pleased to complete this financing, allowing us to significantly expand our pipeline, reach several additional development milestones with EP-104GI for eosinophilic esophagitis, and make meaningful progress towards commercial readiness,” said James Helliwell, CEO of Eupraxia. “We appreciate the support from both existing and new investors as we execute our mission and pursue the next phase of growth for Eupraxia.” Cantor and LifeSci Capital acted as joint book-running managers for the Offering. Bloom Burton and Craig-Hallum also acted as co-managers for the Offering. As previously stated, the Company intends to use the net proceeds from the Offering primarily for the continued advancement of EP-104GI for Eosinophilic Esophagitis, including the completion of ongoing preclinical studies, and Phase 2 clinical trials, preparations for a Phase 3 clinical trial including the related regulatory submissions, and manufacturing activities, and to undertake the necessary commercial/market development activities to prepare for the eventual product launch. The Company also intends to use a portion of the proceeds to accelerate and expand its plans to pursue clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in esophageal strictures and fibrostenotic Crohn’s disease. A portion of the proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include but are not limited to employee salaries, working capital, leases for facilities, administrative expenses, and capital expenditures. The Company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth.

Modular Medical (MODD)

  • Closed at $.4611. Has been trading as a diabetes‑tech name, with shares reacting to execution milestones around its Pivot tubeless patch pump platform.Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.
  • Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.

FIGS, Inc. (FIGS, $10.96., +0.0%)

FIGS, the direct‑to‑consumer healthcare apparel brand, operates at the intersection of e‑commerce and specialty retail, with a loyal professional customer base and a growing product portfolio. While macro headwinds and digital‑ad volatility have pressured some consumer names, FIGS’ brand equity in the medical community and ongoing product innovation offer levers for renewed growth as conditions normalize.

GeoVax Labs (GOVX, $1.66, +3.75%)

DoubleVerify (DV, $9.53, +4.15%)

  • DV traded in the context of that modest risk‑off tone closing at $9.59; no major company‑specific headline surfaced in the reviewed sources.
  • DoubleVerify continues to benefit from secular tailwinds in digital ad verification and brand safety as advertisers prioritize measurable, fraud‑free impressions across social, CTV, and open web channels. In an environment where macro uncertainty still pressures marketing budgets, DV’s performance‑oriented value proposition and recurring‑revenue profile keep it well positioned within the ad‑tech stack.

The InterGroup Corporation (INTG, $29.54)

  • 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.

Serina Therapeutics (SER, $1.77, +5.99%)

  • Serina Therapeutics, a clinical-stage biotechnology company advancing drug candidates enabled by its proprietary POZ Platform™ drug optimization technology, announced (Feb. 19) that the first patient has been enrolled in the Company’s Phase 1b registrational trial evaluating. The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with advanced Parkinson’s disease whose symptoms are inadequately controlled by current standard-of-care therapies. Serina remains on track to initiate dosing during the current quarter, consistent with previously disclosed guidance.

Volato Group, Inc. (SOAR, +2.71%) & M2i Global, Inc. (MTWO)

  • 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, $195.56, +1.41%)

  • Nvidia delivered strong fourth-quarter results, 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.

McDonald’s (MCD, $333.01)

  • Options data around the February 2026 expiries highlight active positioning near the 300–305 strike range, consistent with expectations for steady but not explosive upside from here.
  • 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.

Nokia (NOK, $7.57, +1.07%)

  • Nokia remains a value‑tilted telecom and network‑equipment play that is trading more with global cyclical and communications hardware sentiment than with high‑beta tech, and it did not appear as a major driver in today’s U.S.‑centric headlines.
  • On Feb. 24, Nokia and AWS showcase industry-first agentic AI-powered network slicing with du and Orange
    • Industry-first intent-based 5G-Advanced slicing with agentic AI offers telecommunication providers with premium network slicing services that respond to real-world situations and enable autonomous intelligence.
    • This breakthrough innovation inferences and leverages open Internet data, including traffic, events, locations, maps and operator data for network slicing business.
    • du and Orange first to explore this innovative slicing solution that adapts automatically to support customer demand.

Opendoor (OPEN)

The Sources

  1. Yahoo Finance – “How major US stock indexes fared Wednesday, 2/25/2026”
    https://finance.yahoo.com/news/major-us-stock-indexes-fared-213649578.html
  2. Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq rally on tech jolt as Nvidia earnings loom”
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-rally-on-tech-jolt-as-nvidia-earnings-loom-210052281.html
  3. Yahoo Finance – “Stock Market News for Feb 25, 2026”
    https://finance.yahoo.com/news/stock-market-news-feb-25-124900216.html
  4. MarketWatch – “Stock Market News, Feb. 25, 2026: Dow, S&P 500 and Nasdaq …”
    https://www.marketwatch.com/livecoverage/stock-market-today-dow-sp500-nasdaq-hold-rally-ahead-of-nvidia-earnings-gold-silver-up
  5. Investopedia – “Markets News, Feb. 25, 2026: Tech Stocks Help Major Indexes …”
    https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-02252026-11913959
  6. The Wall Street Journal – “Stock Market Today: Nasdaq Opens Higher; Nvidia Earnings in Focus”
    https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-02-25-2026
  7. Nasdaq – “Stock Market News for Feb 25, 2026”
    https://www.nasdaq.com/articles/stock-market-news-feb-25-2026
  8. NVIDIA Investor Relations – “NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2026”
    http://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-fourth-quarter-and-fiscal-2026
  9. Nvidia Investor Relations – Financial Reports (results detail and tables)
    https://investor.nvidia.com/financial-info/financial-reports/default.aspx
  10. Yahoo Finance – “Nvidia stock pops as earnings beat, guidance stifles some AI concerns”
    https://finance.yahoo.com/news/live/nvidia-earnings-live-nvidia-stock-pops-as-earnings-beat-guidance-stifles-some-ai-concerns-21
  11. Yahoo Finance – “Tech stocks today: Nvidia stock rises as guidance signals AI boom alive and well”
    https://finance.yahoo.com/news/live/tech-stocks-today-nvidia-stock-rises-as-guidance-signals-ai-boom-alive-and-well-220259696.html
  12. Investopedia – “Nvidia Earnings Live: AI Chipmaker’s Results Blow Past Wall Street …”
    https://www.investopedia.com/nvidia-earnings-live-q4-fy2026-nvda-11914428
  13. Nasdaq – “After-Hours Earnings Report for February 25, 2026: NVDA, CRM, SNPS, SNOW…”
    https://www.nasdaq.com/articles/after-hours-earnings-report-february-25-2026-nvda-crm-snps-snow-tcom-vici-ftai-zm-pstg
  14. Constellation Research – “Nvidia Q4 shines, sees strong hyperscaler, enterprise demand”
    https://www.constellationr.com/insights/news/nvidia-q4-shines-sees-strong-hyperscaler-enterprise-demand
  15. Finviz – “Nvidia Q4 Highlights: Record Revenue, Data Center Demand”
    https://finviz.com/news/322526/nvidia-q4-highlights-record-revenue-data-center-demand-customers-are-racing-to-invest-in-ai-compute

February 24, 2026

Nevada Is Having a Copper Moment: Inside America’s New Critical Minerals Capital

Nevada is quietly becoming the loudest story in American mining, and this episode makes clear why that matters for markets, national security, and the energy transition—all at once. Think of it as the moment when a long-time value stock finally starts trading like a growth story.

Nevada: Ground Zero for America’s Critical Minerals

While Washington debates supply chains in hearing rooms, Nevada is busy supplying them from the ground up. The state hosts world-class deposits of gold, lithium, copper, tungsten, and antimony—many of them already tied into existing infrastructure rather than speculative PowerPoint geology. That geological abundance is one reason Nevada ranks near the top globally for mining investment attractiveness, second only to Finland in the Fraser Institute’s 2024 survey.

Equally important, Nevada has paired its mineral endowment with a regulatory climate that investors would describe as “firm but not fickle,” earning a top-tier Policy Perception Index score and retaining its place among the world’s most attractive jurisdictions year after year. In a sector where project timelines are measured in decades, that kind of policy consistency might be the rarest resource of all.

Why Critical Minerals Suddenly Feel Like a National Security Issue

The latest podcast from M2i Global titled “Nevada & The Renewed Necessity for Mining with Amanda Hilton” argues that critical minerals are no longer a niche concern for commodity traders but a central pillar of economic and military resilience. From EV batteries and grid-scale storage to advanced semiconductors and defense systems, the U.S. is discovering that its industrial ambitions run directly through a handful of materials often processed far from home. Concentrated refining—particularly for copper and battery metals—creates chokepoints that leave the U.S. exposed to foreign policy risk and supply disruptions.

Nevada steps into this picture as one of the few places where geology, infrastructure, and policy align to support a more domestic, more transparent supply chain. With the U.S. currently operating only a small number of primary copper smelters and exporting hundreds of thousands of tonnes of concentrate for foreign refining, studies focused on Nevada’s copper processing potential have become as strategic as they are technical.

A Regulatory Model Markets Actually Price In

The Fraser Institute’s survey reads like an investor’s scorecard, and Nevada consistently lands near the top on both mineral potential and policy quality. Companies report that Nevada combines clear permitting rules, comparatively predictable timelines, and a tax regime that does not treat capital investment as a moral failing. In the latest rankings, Nevada again scores among the very best jurisdictions worldwide for investment attractiveness, reflecting both high-quality geology and a policy framework that reduces above-ground risk.

Those policy strengths show up in behavior, not just in rankings: Nevada has led U.S. mineral exploration budgets, capturing a dominant share of exploration spending compared with other states. For an industry allergic to uncertainty, a place where regulations are tough but legible is a genuine competitive advantage.​

Copper, Lithium, and the New Industrial Backbone

Copper has quietly moved from “old economy metal” to “new economy bottleneck,” with U.S. demand expected to climb as data centers, electrified transport, and renewable generation scale up. A recent Nevada Copper Processing Study highlights that the state is unusually well positioned to close U.S. supply-chain gaps, thanks to existing copper resources, active concentrators, and supportive permitting conditions for new processing facilities. The study also underscores a stark vulnerability: with only two operating primary smelters in the country, the U.S. must send a large volume of copper concentrate overseas for refining, effectively exporting both value and leverage.

Nevada’s favorable environment has encouraged feasibility work on large-scale copper operations, with technical studies confirming that modern open-pit and underground projects in the state can be technically and economically viable at industrial scale. When you overlay that with emerging federal recognition of copper’s critical role—reflected in its inclusion on draft critical-mineral lists—the logic for building a more domestic, Nevada-centered value chain becomes hard for policymakers to ignore.

Leadership at the Intersection of Community, Capital, and Security

M2I Gobal’s Podcast Guest, Amanda Hilton, brings more than two decades of on-the-ground operational experience at Nevada’s Robinson Mine, capped by six years as General Manager—a role that requires equal fluency in geology, labor relations, and community expectations. As a fourth-generation Nevadan who has chaired the Nevada Mining Association’s board and now serves as its 13th president, she has become a prominent voice for consensus-driven, responsible mining in a state that still equates its future with what lies below the surface. Her inclusion in the “Pioneering the Field: Women in Mining” exhibit at the National Mining Hall of Fame and Museum underlines how her career embodies both technical competence and industry change.

Host Alberto Rosende, President and CEO of M2i Global (MTWO), frames these issues through a global resilience lens, emphasizing secure, transparent, and sustainable supply chains as prerequisites for long-term prosperity rather than regulatory buzzwords. With experience across public and private sectors, he treats critical minerals as a systems problem—linking extraction, processing, policy, and geopolitics—rather than as a simple race to permit the next mine. Together, their conversation makes a case that domestic mining is now a national, economic, and military necessity—and that Nevada is where that thesis is being tested in real time.

View the Podcast Now

View at this link

February 24, 2026

How InterGroup’s Hilton Cash Flows and Opendoor’s AI Engine Are Shaping San Francisco’s Real Estate ‘Land Rush’ -( $INTG $OPEN )

InterGroup’s (INTG) latest results tell a tale of steady, brick‑and‑mortar progress—while San Francisco’s Opendoor Technologies (OPEN) adds a tech‑enabled twist to the real‑estate recovery narrative.

InterGroup Steps Back Into the Earnings Spotlight

The InterGroup Corporation (NASDAQ: INTG) reported a swing back to profitability for the quarter ended December 31, 2025, as hotel strength and disciplined real estate management lifted results. Total revenues reached approximately $17.3 million, reflecting solid growth versus the prior-year period and underscoring the company’s renewed operating traction in both hospitality and property segments. Operating income more than doubled to about $2.0 million from $0.9 million a year earlier, a notable shift for a company that had been posting losses as recently as fiscal 2024. Net income came in at roughly $1.0 million, compared with a net loss of $3.7 million in the prior-year quarter, while net income attributable to InterGroup was about $1.5 million, or $0.71 per diluted share.

Hotels Check In, Losses Check Out

The star of the quarter was InterGroup’s hotel operations, anchored by its flagship Hilton San Francisco Financial District, which continues to be the company’s primary hospitality engine. Note that San Francisco is enjoying an ongoing significant economic & structural evolution driven by an aggressive, AI-driven “land rush”. Specifically, InterGroup’s hotel segment income climbed to approximately $2.2 million from $0.9 million a year earlier, reflecting higher demand and the return of 14 guest rooms to inventory following renovations completed in late 2025.

In practical terms, that means more keys in circulation, better occupancy, and stronger revenue per available room—levers that matter in a still‑recovering San Francisco hospitality market. For a company that once carried going‑concern doubts at its majority‑owned Portsmouth Square subsidiary, the current narrative centers more on rate, occupancy, and EBITDA than on survival.

Real Estate: Quietly Doing Its Job

InterGroup’s real estate operations, spanning multifamily and commercial properties across states such as Texas, Missouri, Kentucky, and California, continued to deliver steady segment income. Real estate segment income stood at about $2.2 million for the quarter, essentially in line with the prior year, as management emphasized occupancy, expense control, and asset‑level discipline over flashy expansion.

The quarter also showcased InterGroup’s willingness to prune when appropriate: the company closed the sale of a non‑core, 12‑unit multifamily property in Los Angeles County for roughly $4.85 million. That transaction generated a GAAP gain of about $3.5 million, boosting liquidity and providing additional working capital to support core assets and potential future investments.

From Going-Concern Questions to Optionality

Zooming out, the latest quarter marks another step in an ongoing repair story that accelerated through fiscal 2025. For that fiscal year, InterGroup significantly narrowed its net loss to about $7.5 million from $12.6 million in 2024, while hotel and real estate segment incomes rose roughly 52% and 32%, respectively.

Liquidity has also improved: cash and equivalents climbed to approximately $15.2 million at June 30, 2025, up nearly 75% from the prior year, aided by refinancing at the hotel level and better operating cash flow. Importantly, management has previously noted that the going‑concern doubt at Portsmouth Square was alleviated following hotel refinancing, shifting the narrative from “can it stay listed?” to “how much value can it extract from its assets?”

Enter Opendoor: A Digital Counterpoint in San Francisco Real Estate

While InterGroup works its turnaround through renovated rooms and quietly cash‑flowing buildings, San Francisco‑based Opendoor Technologies (NASDAQ: OPEN) is trying to rewire how homes change hands—algorithm first, clipboard second. In its Q4 2025 update, Opendoor reported revenue of about $736 million, beating analyst expectations even as sales fell more than 30% year on year, and delivering an adjusted loss of roughly 0.07 dollars per share that was materially better than consensus.

Beneath the headline loss, management has been keen to stress that “Opendoor 2.0” is more about quality of economics than volume of transactions, pointing to a 46% sequential jump in home purchases, faster inventory turnover, and the strongest contribution margins yet for its October 2025 home cohort. The company also highlighted AI‑driven gains in pricing and underwriting efficiency, as well as an expanded mortgage offering that gives Opendoor more touchpoints with both sellers and buyers across much of the lower 48 states.

In market terms, the story has been good enough to jolt investor attention: shares have recently surged double digits, with at least one major bank hiking its price target sharply as traders reassessed the odds that Opendoor can reach breakeven on an adjusted net income basis by 2026. Of course, GAAP reality remains sobering—a roughly 1.1 billion dollar quarterly net loss tied in part to debt extinguishment and a full‑year loss around 1.3 billion dollars underline how experimental iBuying still is when housing cycles stop cooperating.

Old-School Assets, New-School Algorithms

Put side by side, InterGroup and Opendoor read like a study in real‑estate contrasts: one leans into a 558‑room Hilton, parking garages, and brick‑and‑mortar multifamily, while the other leans into APIs, AI models, and nationwide home‑flipping at scale. InterGroup’s approach is to tighten operations, selectively sell non‑core assets, and use rising hotel and rental income to repair the balance sheet; Opendoor is trying to algorithm its way to profitability by speeding up turns, deepening mortgage engagement, and squeezing more contribution margin from each house it touches.

For investors, both stories sit inside the same broader theme: the slow normalization of U.S. real estate after a once‑in‑a‑generation rate shock, with capital increasingly favoring business models that can either withstand volatility (InterGroup’s asset‑backed cash flows) or harness it (Opendoor’s volatility‑as‑a‑feature trading book of homes). One does its work through nightly room rates and long‑term leases; the other through bid‑ask spreads on thousands of homes, all in the hope that the math—and eventually the margins—add up.

A Small-Cap With a Big-City Core

InterGroup (INTG) today presents as a tightly focused real estate and hospitality platform, with three reportable segments: Hotel Operations, Real Estate Operations, and Investment Transactions. Its portfolio is built around income‑producing multifamily and commercial properties and the 558‑room Hilton San Francisco Financial District, which includes meeting space, a ballroom, a multi‑level parking garage, and other amenities in the heart of one of the country’s most closely watched urban cores.marketscreener+4

To be sure, the Investing Transactions segment remains a swing factor, posting losses in recent periods and reminding investors that markets can be less forgiving than hotel guests. But with operating income rising, liquidity strengthening, non‑core assets being trimmed—and a local prop‑tech neighbor in Opendoor proving that disruption still comes with a sizable burn rate—InterGroup is increasingly positioned less like a turnaround case and more like a niche, asset‑backed story with optionality.

The Sources

Here are the sources with direct links:

  1. InterGroup Corporation press release on improved operating results and LA multifamily sale (via Yahoo Finance).[finance.yahoo]​
    https://finance.yahoo.com/news/intergroup-corporation-reports-improved-operating-210500839.html
  2. InterGroup swings to earnings in Q2 on hotel growth and asset sale.finance.yahoo+1
    https://finance.yahoo.com/news/intergroup-swings-earnings-q2-hotel-174600076.html
    https://finviz.com/news/319218/intergroup-swings-to-earnings-in-q2-on-hotel-growth-asset-sale
  3. InterGroup Corporation fiscal year 2025 results press release.[finance.yahoo]​
    https://finance.yahoo.com/news/intergroup-corporation-reports-fiscal-2025-212000480.html
  4. InterGroup full‑year 2024 earnings summary.[finance.yahoo]​
    https://finance.yahoo.com/news/intergroup-full-2024-earnings-us-102901167.html
  5. InterGroup Q1 FY2026 results; real estate segment update.[finance.yahoo]​
    https://finance.yahoo.com/news/intergroup-reports-q1-fy2026-results-222500008.html
  6. InterGroup Corporation official website and company overview.[intgla]​
    https://www.intgla.com
  7. InterGroup SEC Form 8‑K on LA multifamily asset sale and profit.[stocktitan]​
    https://www.stocktitan.net/sec-filings/INTG/8-k-intergroup-corp-reports-material-event-308e44802563.html
  8. INTG stock price, news, and company snapshot.[stocktitan]​
    https://www.stocktitan.net/overview/INTG/
  9. The InterGroup Corporation detailed company profiles.investing+2
    https://ng.investing.com/equities/the-intergroup-co-company-profile
    https://www.marketscreener.com/quote/stock/THE-INTERGROUP-CORPORATIO-9701/company/
    https://stockanalysis.com/stocks/intg/company/
  10. InterGroup related filings and analysis on operating segments and outlook.stockinsights+2
    https://www.stockinsights.ai/us/INTG/10-Q/fy26-q2-5fcb
    https://www.intgla.com/gridmedia/files/Press/InterGroup-PRNov2025.pdf
    https://www.quiverquant.com/news/The+InterGroup+Corporation+Reports+Improved+Financial+Performance+for+Fiscal+Year+2025
  11. Opendoor (OPEN) earnings overview and report history.public+2
    https://public.com/stocks/open/earnings
    https://marketchameleon.com/Overview/OPEN/Earnings/Earnings-Dates/
    https://stockinvest.us/earnings-report/OPEN
  12. Opendoor Technologies Q4 earnings beat and stock surge coverage.stockstotrade+1
    https://stockstotrade.com/news/opendoor-technologies-inc-open-news-2026_02_24/
    https://www.tikr.com/blog/opendoor-technologies-nasdaq-open-stock-jumps-19-percent-following-better-than-expected-quarterly-resu
  13. Analysis of Opendoor’s most recent earnings update and key metrics.finance.yahoo+2
    https://finance.yahoo.com/news/most-important-opendoors-earnings-report-234500807.html
    https://finance.yahoo.com/news/opendoor-nasdaq-open-delivers-strong-221259050.html
    https://www.nasdaq.com/articles/opendoor-technologies-inc-open-reports-q4-loss-beats-revenue-estimates
  14. Commentary on “Opendoor 2.0,” AI‑driven model, and strategy.simplywall+2
    https://simplywall.st/stocks/us/real-estate-management-and-development/nasdaq-open/opendoor-technologies/news/opendoor-technolog
    https://simplywall.st/stocks/us/real-estate-management-and-development/nasdaq-open/opendoor-technologies/news/opendoor-turnaroun
    https://www.zacks.com/stock/news/2874530/is-opendoor-20-working-why-open-is-prioritizing-product-over-growth
  15. Broader perspective pieces on Opendoor’s stock performance and long‑term potential.nasdaq+2
    https://www.nasdaq.com/articles/unstoppable-stock-soared-264-2025-heres-what-could-happen-2026
    https://unemployedvaluedegen.substack.com/p/opendoors-path-to-a-trillion-dollar
    https://www.stocktitan.net/sec-filings/OPEN/10-k-opendoor-technologies-inc-files-annual-report-9cd3fbe35f21.html
February 24, 2026

February 24, 2026 – Stocks Rebound as Software Leads AI Relief Rally Ahead of Nvidia Earnings -( $AMD $CRM $DV $FIGS $IBRX $NVDA $OPEN $SER $SOAR $TSLA Rise!)

US stocks rebounded on Tuesday, February 24, 2026, with major indexes clawing back part of Monday’s AI-driven selloff as software and AI beneficiaries led a broad relief rally ahead of closely watched Nvidia earnings scheduled for tomorrow, Wednesday.

Index performance

  • The Dow Jones Industrial Average added roughly 0.8%, a gain of around 400 points, helped by a turnaround in tech and prior-day laggards such as IBM and Oracle.
  • The S&P 500 rose about 0.8%, with technology and consumer discretionary shares pacing the advance.
  • The Nasdaq Composite climbed close to 1% as large-cap chip and software names rebounded, outpacing the broader market after leading Monday’s declines.
  • The Russell 200 small caps closed up 1.22% at 2,652.49.

Drivers: AI relief and software rebound

  • A sharp “AI scare trade” on Monday—triggered by fears that rapid automation could push US unemployment above 10% by 2028—reversed as investors focused on AI as an incremental growth driver rather than an immediate existential threat.
  • Software stocks outperformed after Anthropic’s event highlighted new enterprise-focused AI tools and integrations, easing worries that AI would fully displace traditional software business models.
  • An AI-focused software ETF jumped more than 3%, and names tied to Anthropic partnerships, including Salesforce (CRM, $185.46, +4.10%), FactSet, and DocuSign, posted notable gains.

Notable corporate movers

  • AMD surged after Meta agreed to buy a massive tranche of its GPUs in a deal reported to exceed 100 billion dollars over time, rekindling enthusiasm around AI infrastructure spending and lifting sentiment across the chip complex, including Nvidia (NVDA, $292.85, +.68%).
  • Workday rebounded from 52‑week lows as investors looked to its upcoming earnings for clarity on how AI is shaping software demand and margins.
  • Tesla rose roughly 2.39% despite reporting a 17% drop in European sales and ongoing legal and regulatory overhangs, underscoring continued dip-buying interest in high‑beta growth names.
  • Spirit Airlines advanced after reaching a deal with creditors aimed at exiting bankruptcy by late spring or early summer, signaling progress on its restructuring path.
  • ImmunityBio, Inc. (Nasdaq: IBRX, $11.55, +17.50%), a commercial-stage biotechnology company pioneering next-generation immunotherapies, today announced that its Founder, Executive Chairman, and Global Chief Scientific and Medical Officer, Dr. Patrick Soon-Shiong, will participate as a featured speaker at “Cancer 2035: A Roadmap for the Future,” a landmark summit co-hosted by the Milken Institute and the Richard Nixon Foundation in Washington, D.C. on February 23–24, 2026.

Policy, tariffs, and macro backdrop

  • President Donald Trump’s new 10% global tariff regime formally took effect at midnight, keeping trade and supply-chain uncertainty front and center as investors await further detail in the upcoming State of the Union address.
  • Federal Reserve Governor Lisa Cook warned that traditional monetary policy tools may struggle to manage AI-driven labor-market disruptions without sparking inflation, highlighting a more complex policy landscape in coming years.
  • The US dollar firmed modestly against major peers, while bitcoin pared earlier losses to trade near the mid‑60,000s and gold futures slipped as risk appetite improved.
  • The 2‑year and 10‑year Treasury yields both inched higher today, keeping the curve modestly inverted but a bit less so than in recent sessions.

Economic data and positioning ahead

  • The Conference Board’s consumer confidence index ticked up by 2.2 points in February to about 91, as households reported a slightly better outlook even as views on current conditions softened.
  • Today’s advance marked only a partial recovery from Monday’s broad selloff, but the synchronized rise in the Dow, S&P 500, and Nasdaq suggested investors are selectively re‑embracing the AI and software trade heading into Nvidia’s results midweek.

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.

Eupraxia Pharmaceuticals (EPRX, $8.09)

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, is pleased to announce the successful closing of its previously announced public offering (the “Offering”) of 7,607,145 common shares of the Company (the “Common Shares”), which includes the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of US$7.00 per Common Share, and pre-funded warrants to purchase up to 1,428,571 Common Shares in lieu thereof (the “Pre-Funded Warrants”) at a price of US$6.99999 per Pre-Funded Warrant, which equals the public offering price per Common Share less the C$0.000001 per share exercise price of each Pre-Funded Warrant, for gross proceeds of approximately US$63.2 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering.“We are pleased to complete this financing, allowing us to significantly expand our pipeline, reach several additional development milestones with EP-104GI for eosinophilic esophagitis, and make meaningful progress towards commercial readiness,” said James Helliwell, CEO of Eupraxia. “We appreciate the support from both existing and new investors as we execute our mission and pursue the next phase of growth for Eupraxia.” Cantor and LifeSci Capital acted as joint book-running managers for the Offering. Bloom Burton and Craig-Hallum also acted as co-managers for the Offering. As previously stated, the Company intends to use the net proceeds from the Offering primarily for the continued advancement of EP-104GI for Eosinophilic Esophagitis, including the completion of ongoing preclinical studies, and Phase 2 clinical trials, preparations for a Phase 3 clinical trial including the related regulatory submissions, and manufacturing activities, and to undertake the necessary commercial/market development activities to prepare for the eventual product launch. The Company also intends to use a portion of the proceeds to accelerate and expand its plans to pursue clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in esophageal strictures and fibrostenotic Crohn’s disease. A portion of the proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include but are not limited to employee salaries, working capital, leases for facilities, administrative expenses, and capital expenditures. The Company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth.

Modular Medical (MODD)

  • Closed at $.4712. Has been trading as a diabetes‑tech name, with shares reacting to execution milestones around its Pivot tubeless patch pump platform.Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.
  • Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.

FIGS, Inc. (FIGS, $10.96., +.46%)

FIGS, the direct‑to‑consumer healthcare apparel brand, operates at the intersection of e‑commerce and specialty retail, with a loyal professional customer base and a growing product portfolio. While macro headwinds and digital‑ad volatility have pressured some consumer names, FIGS’ brand equity in the medical community and ongoing product innovation offer levers for renewed growth as conditions normalize.

GeoVax Labs (GOVX, $1.60)

DoubleVerify (DV, $9.15, +3.39%)

  • DV traded in the context of that modest risk‑off tone closing at $9.59; no major company‑specific headline surfaced in the reviewed sources.
  • DoubleVerify continues to benefit from secular tailwinds in digital ad verification and brand safety as advertisers prioritize measurable, fraud‑free impressions across social, CTV, and open web channels. In an environment where macro uncertainty still pressures marketing budgets, DV’s performance‑oriented value proposition and recurring‑revenue profile keep it well positioned within the ad‑tech stack.

The InterGroup Corporation (INTG, $30.36 +7.58%)

  • 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.

Serina Therapeutics (SER, $1.67, +6.37%)

  • Serina Therapeutics, a clinical-stage biotechnology company advancing drug candidates enabled by its proprietary POZ Platform™ drug optimization technology, announced (Feb. 19) that the first patient has been enrolled in the Company’s Phase 1b registrational trial evaluating. The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with advanced Parkinson’s disease whose symptoms are inadequately controlled by current standard-of-care therapies. Serina remains on track to initiate dosing during the current quarter, consistent with previously disclosed guidance.

Volato Group, Inc. (SOAR, +2.71%) & M2i Global, Inc. (MTWO)

  • 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, $192.85, +.68%)

  • Nvidia stays at the center of the AI trade as hyperscale and enterprise demand for accelerated computing remains robust, even as some of its high‑end H‑series chips remain subject to legacy Section 232 tariff structures. The Supreme Court decision removes one layer of tariff uncertainty, and while new trade measures could emerge, the company’s strong pricing power and product cycle momentum continue to underpin the bull case.
  • Nvidia is set to release its fiscal fourth-quarter (Q4) 2026 earnings on Wednesday, February 25, 2026, after the market closes. Analysts are projecting revenue of around $65.7 billion to $66.1 billion, which would represent approximately 67%-68% year-over-year growth.

McDonald’s (MCD, $333.05)

  • Options data around the February 2026 expiries highlight active positioning near the 300–305 strike range, consistent with expectations for steady but not explosive upside from here.
  • 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.

Nokia (NOK, $7.57)

  • Nokia remains a value‑tilted telecom and network‑equipment play that is trading more with global cyclical and communications hardware sentiment than with high‑beta tech, and it did not appear as a major driver in today’s U.S.‑centric headlines.
  • On Feb. 24, Nokia and AWS showcase industry-first agentic AI-powered network slicing with du and Orange
    • Industry-first intent-based 5G-Advanced slicing with agentic AI offers telecommunication providers with premium network slicing services that respond to real-world situations and enable autonomous intelligence.
    • This breakthrough innovation inferences and leverages open Internet data, including traffic, events, locations, maps and operator data for network slicing business.
    • du and Orange first to explore this innovative slicing solution that adapts automatically to support customer demand.

Opendoor (OPEN, $5.11, +6.90%)

The Sources

  1. Yahoo Finance – “Dow, S&P 500, Nasdaq jump as software leads AI relief rally ahead of Nvidia earnings”[ca.finance.yahoo]​
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-jump-as-software-leads-ai-relief-rally-ahead-of-nvidia-earnings-210010666.html
  2. Yahoo Finance – “Dow, S&P 500, Nasdaq climb as software stocks lead AI relief rally”[finance.yahoo]​
    https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-climb-as-software-stocks-lead-ai-relief-rally-143829839.html
  3. Reuters – “Wall St bounces back on renewed tech vigor, easing AI concerns”[reuters]​
    https://www.reuters.com/business/us-stock-futures-steady-after-mondays-battering-tariffs-ai-concerns-dominate-2026-02-24/
  4. Barron’s – “Stock Market Today: Dow, S&P 500, Nasdaq Rise”[barrons]​
    https://www.barrons.com/livecoverage/stock-market-news-today-022426
  5. Wall Street Journal – “Stock Market Today: Dow Rises; AMD Rallies After Meta Deal”[wsj]​
    https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-02-24-2026
  6. CNBC – “Stock market news for Feb. 24, 2026”[cnbc]​
    https://www.cnbc.com/2026/02/23/stock-market-today-live-updates.html
  7. Investopedia – “Stock Market Today: Major Indexes Rebound After Sell-Off”[investopedia]​
    https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-02242026-11912762
  8. Reuters – “US software stocks climb as Anthropic announcement sparks relief rally”[reuters]​
    https://www.reuters.com/business/finance/us-software-stocks-climb-anthropic-announcement-sparks-relief-rally-2026-02-24/
  9. The Street – “Stock Market Today, Feb. 24: Anthropic strikes again with new AI tools”[thestreet]​
    https://www.thestreet.com/latest-news/stock-market-today-feb-24-anthropic-strikes-again-with-new-ai-legal-tools
  10. CNBC – “U.S. Treasury yields: Trump’s State of the Union speech”[cnbc]​
    https://www.cnbc.com/2026/02/24/us-treasury-yields-trumps-state-of-the-union-speech.html
  11. Trading Economics – “US 2 Year Treasury Bond Note Yield”[tradingeconomics]​
    https://tradingeconomics.com/united-states/2-year-note-yield
  12. YCharts – “2 Year Treasury Rate – Real-Time & Historical Yield Trends”[ycharts]​
    https://ycharts.com/indicators/2_year_treasury_rate
  13. Trading Economics – “US 10 Year Treasury Note Yield”[tradingeconomics]​
    https://tradingeconomics.com/united-states/government-bond-yield
  14. YCharts – “10 Year Treasury Rate – Real-Time & Historical Yield Trends”[ycharts]​
    https://ycharts.com/indicators/10_year_treasury_rate
  15. Morningstar – “10-Year Treasury Yield Rises to 4.032% — Data Talk”[morningstar]​
    https://www.morningstar.com/news/dow-jones/202602249289/10-year-treasury-yield-rises-to-4032-data-talk
  16. Federal Reserve FRED – “Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity (DGS2)”[fred.stlouisfed]​
    https://fred.stlouisfed.org/series/DGS2
  17. Federal Reserve FRED – “Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity (DGS10)”[fred.stlouisfed]​
    https://fred.stlouisfed.org/series/DGS10
  18. Federal Reserve FRED – “10-Year Treasury Constant Maturity Minus 2-Year Treasury (T10Y2Y)”[fred.stlouisfed]​
    https://fred.stlouisfed.org/series/T10Y2Y
  19. GlobeNewswire – “The InterGroup Corporation Reports Improved Operating Results”[globenewswire]​
    https://www.globenewswire.com/news-release/2026/02/17/3239746/0/en/The-InterGroup-Corporation-Reports-Improved-Operating-Results.html
  20. Yahoo Finance – “The InterGroup Corporation Reports Improved Operating Results; Completes Sale of a Non-Core Los Angeles Multifamily Property”[finance.yahoo]​
    https://finance.yahoo.com/news/intergroup-corporation-reports-improved-operating-210500839.html

February 24, 2026

Nokia, AWS, and the Agentic AI Bet: When Telcos Meet Cloud Royalty -( $AMZN $NOK )

In Barcelona’s annual parade of buzzwords, Nokia (NOK) and Amazon Web Services (AMZN) (AWS) have managed to turn “network slicing” and “agentic AI” into headliners rather than footnotes. The duo is unveiling what they describe as an industry‑first: an intent‑based, agentic AI‑powered 5G‑Advanced slicing solution running on AWS, with live pilots at du in the UAE and Orange in Europe. du and Orange are already trialing the technology on their production 5G networks, giving this announcement more the feel of a soft launch than a science‑fair demo.

Under the hood, Nokia brings its 5G AirScale base stations, MantaRay SMO, Edge Slicing, and network slicing stack, while AWS supplies the cloud, AI platform, and connective tissue via Amazon Bedrock and familiar services such as Amazon EKS and CloudWatch. The pitch to carriers is disarmingly simple: get cloud‑like agility, carrier‑grade performance, and AI‑driven automation without signing up your engineering team for a multi‑year integration odyssey.

From Static Slices to “Intent‑Based” Networks

Network slicing has been telecom’s version of New Year’s resolutions—full of promise, short on execution. Operators could carve bespoke virtual networks for enterprises, gamers, or first responders, but static policies and manual configuration meant the slices rarely kept up with real-world volatility. Nokia and AWS are trying to change that by adding intent and autonomy to the equation.

The new solution uses agentic AI modules—operating in chatbot, on‑demand, scheduled, and fully autonomous modes—to watch live network KPIs such as bitrate and latency, infer what is happening in the outside world from open internet data, and then tune RAN policies on the fly. These AI agents ingest signals ranging from traffic incidents, events, timetables, and maps to weather and location data, and then align network behavior with high-level intents like “keep emergency services at full performance” or “prioritize XR gaming during a launch event.” For operators, the promise is fewer spreadsheets, fewer midnight calls, and more policy expressed in plain language rather than arcane router configurations.

du, Orange, and the Live‑Network Proving Ground

Nokia and AWS have wisely chosen to test this AI‑driven slicing not in a lab but in the wild—on live 5G networks at du and Orange. That gives the initiative a commercial edge: if the technology behaves well amid real subscribers, traffic spikes, and occasional football‑induced surges, it strengthens the case for broader rollout.

The early use cases read like a telco wish list. For enterprises, intent‑based slicing can maintain SLAs across campuses, ports, factories, and smart city zones by dynamically adjusting RAN behavior to keep latency and throughput within target bands. For public safety and first responders, on‑demand slices can be triggered by external data—like an accident or severe weather—to temporarily boost performance at specific base stations without degrading premium consumer services. For consumers, the same machinery can quietly prioritize 5G+ and fixed wireless access customers during gaming, streaming, and immersive XR peaks, ideally without anyone noticing—except in the form of fewer frozen frames.

Cloud RAN, SmartNICs, and the Economics of Scale

While the agentic AI slicing announcement grabs the headlines, it rests on several years of groundwork between Nokia and AWS around Cloud RAN and cloud‑native telco architectures. Earlier collaborations focused on running Nokia’s containerized RAN network functions on AWS infrastructure, harnessing Amazon EKS, AWS Telco Network Builder, Amazon EC2, and observability tools like Amazon CloudWatch, with the goal of simplifying deployment and lifecycle management for disaggregated RAN stacks.

A key ingredient is Nokia’s Cloud RAN SmartNIC, designed to process the full RAN Layer 1 workload in hardware, paired with AWS EC2 instances powered by Graviton3 processors for Layer 2. This in‑line acceleration approach reduces the number of CPU cores needed, lowers total cost of ownership, and still delivers carrier‑grade throughput, bandwidth, and massive MIMO support. For carriers, the story is less about exotic silicon and more about economics: pre‑validated stacks that cut months of integration effort and enable a software‑centric, CI/CD‑driven radio network.

Why This Matters for Investors and the Industry

For telecom operators, this collaboration aims to turn long‑theorized 5G revenue streams into billable reality, with premium, context‑aware slices sold to enterprises, public sector agencies, and data‑hungry consumers. Automated, AI‑driven network optimization promises not just new services but leaner operations, fewer manual interventions, and potentially better network reliability.

For Nokia, the move reinforces its positioning as a 5G‑Advanced and AI‑native network supplier willing to embrace public cloud rather than compete with it. For AWS, the partnership strengthens its telecom franchise, extending from OSS/BSS and IT workloads deeper into RAN and core, while showcasing Amazon Bedrock as an industrial‑grade platform for agentic AI. And for investors watching MWC for real‑world validation rather than slide‑ware, live trials with du and Orange, together with Nokia’s earlier SaaS‑based 5G core deployment at Citymesh on AWS, suggest that cloud‑native telco is edging closer to the mainstream.

The sophisticated punchline? In a world where every company claims to be “AI‑powered,” Nokia and AWS are quietly teaching 5G networks to read the room—and then reconfigure themselves before anyone has to file a trouble ticket.

The Sources

  1. Nokia press release – “Nokia and AWS showcase industry-first agentic AI-powered network slicing with du and Orange”
    https://www.nokia.com/newsroom/nokia-and-aws-showcase-industry-first-agentic-ai-powered-network-slicing-with-du-and-orange/[nokia]​
  2. TelecomTV – “Nokia and AWS trial agentic AI network slicing with Orange and du”
    https://www.telecomtv.com/content/5g/nokia-and-aws-trial-agentic-ai-network-slicing-with-orange-and-du-54918/[telecomtv]​
  3. Telecompaper – “Du and Orange first to pilot network slicing with agentic AI from Nokia and AWS”
    https://www.telecompaper.com/news/du-and-orange-first-to-pilot-network-slicing-with-agentic-ai-from-nokia-and-aws–1563226[telecompaper]​
  4. AWS Industries Blog – “AWS and Nokia Collaborate to Drive Operational Simplicity with Carrier-Grade Performance for Cloud RAN”
    https://aws.amazon.com/blogs/industries/aws-and-nokia-collaborate-to-drive-operational-simplicity-with-carrier-grade-performance-for-cloud-ran/[aws.amazon]​
  5. Nokia press release – “Citymesh goes live with world’s first commercial mobile service on 5G Core SaaS powered by Nokia and AWS”
    https://www.nokia.com/newsroom/citymesh-goes-live-with-worlds-first-commercial-mobile-service-on-5g-core-saas-powered-by-nokia-and-aws/[nokia]​
  6. MarketScreener – “Citymesh Goes Live with First Commercial Mobile Service on 5G Core SaaS Powered by Nokia and AWS”
    https://www.marketscreener.com/news/citymesh-goes-live-with-first-commercial-mobile-service-on-5g-core-saas-powered-by-nokia-and-aws–45990989/[marketscreener]​
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