Happy Thursday Zingernation! One analyst says the NVIDIA party has officially become a ‘rager’. But this one is filled with a lot more tech bros and fewer red solo cups than the ones I’m used to. Party on, traders.

-Aaron Bry and Nic Chahine

Plus, check out a pick-and-shovel play for the ongoing AI boom.

Also, want access to unparalleled news and data at your fingertips? Win more trades with Benzinga Pro, for 50% off during our Memorial Day sale.

MARKET SNAPSHOT

Yesterday: Was a little pull back after hitting new all-time highs on Tuesday. Solar stocks were a bright spot (pun intended) with $TAN closing up nearly 9% on the day.

On Our Radar: Initial jobless claims come out at 8:30 am ET, then we will get some housing data later in the morning followed by Fed Speak from Bostic at 3:00 pm ET. Trade on!

Plus: Gain an edge using market-moving news breaks. Get actionable news alerts before other traders with Benzinga Pro, currently 50% off.

TOP STORY

Jensen Huang Says 'Other Blackwells Coming' Even As Nvidia Gears Up For 'Lot Of Blackwell Revenue' This Year

In Short: Nvidia CEO Jensen Huang is upbeat about the company's latest Blackwell chips after the company delivered better-than-expected results in the March 2024 quarter.

What Happened: Huang is all fired up about the company's recently launched Blackwell chips, revealing that not only is the production already underway, but that the company will start seeing revenue from these new AI super chips this year itself.

Quoted: "We will see a lot of Blackwell revenue this year," Huang said, answering a question during the company's post-earnings call with analysts.

Basically: He revealed that while Blackwell is under production, shipments will begin in Q2, and installations in data centers will be visible in Q4.

Click here to read the full story.

PRESENTED BY SPROTT

The Energy Implications Of Artificial Intelligence And The Materials That Are Powering It In A Sustainable Manner

The rapid proliferation of Artificial Intelligence (AI) systems in recent years has had consequences for energy consumption. Technology firms are embracing established clean energy sources to power their data centers. They are also working with various stakeholders to identify new, sustainable and long-term energy sources capable of mitigating the negative externalities of high energy consumption.

As society moves toward decarbonization, the resource inputs that are necessary for this energy transition to occur are growing in value over time. For investors, gaining exposure to companies well-positioned to benefit from the increased investment in the critical minerals needed for clean energy is a timely opportunity that can reap benefits for the future.

Click here to read more.

FIVE ZINGERS

Moving Target: Analysts are shifting their price targets on Target after the retailer reported worse-than-expected earnings.

Paper Hands: Investors appeared to be selling Alibaba after a strong week, with the Chinese giant retreating more than 5% after hitting new 52-week highs.

Big Get Bigger: Google is closing in on acquiring HubSpot, and hopes to steal some market share from Microsoft through the move.

Let It $SNOW: First Solar soared higher yesterday following an upgrade from two big analysts. Could solar names heat up?

Sell The News?: Ethereum ETFs appear to be imminent, but will they help boost the second-largest crypto higher?

ONE FOR THE ROAD

Tesla Pushes Suppliers To Diversify Production Away From China Amid Escalating Sino-Taiwan Tensions

In Short: EV giant Tesla Inc TSLA has reportedly told suppliers to start building components and parts outside China and Taiwan, starting as early as next year.

What Happened: The company has requested suppliers making printed circuit boards, displays, and electronics control unit systems to be used in Tesla vehicles sold outside of China to make them outside both China and Taiwan, Nikkei Asia reported, citing multiple supply chain executives.

So: The company cited mounting geopolitical risks in the region ahead of the upcoming U.S. Presidential election and is looking to build alternative supply sources to prevent supply chain disruptions.

Basically: Tesla discussed the matter with Asian suppliers from Japan, Taiwan, and South Korea, among others, the newspaper said, adding that the request was made before the U.S. hiked tariffs on Chinese imports including electric vehicles.

Why It Matters: Earlier this month, the U.S. government imposed a 100% tariff on electric vehicles made in China, quadrupling it from the previous 25%. Biden administration further implemented a 25% tariff on electric vehicle batteries from China and a 25% tariff on critical minerals that go into making these EV batteries.

Read more here. 

PRESENTED BY BENZINGA