A Clean Read on AI Demand, a Headline-Driven Surge, and a Nuclear Trade With Baggage

One company just delivered the kind of revenue and capex update that keeps the AI case intact. Another is flying on a dramatic strategy shift that still lacks operating substance, and a third is benefiting from a sector push even as the business remains messy underneath. We’ll break down what deserves patience, what deserves skepticism, and what still looks buyable on dips.

Futures are inching higher after the S&P 500 and Nasdaq notched fresh records, with traders still riding the idea that the Iran conflict may be winding down. The mood is upbeat, but a little cautious too, as investors look for this rally to spread beyond the usual tech favorites.

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Earnings (Premarket):
• Taiwan Semiconductor Manufacturing Company Ltd. [TSM]
• Pepsico, Inc. [PEP]
• Abbott Laboratories [ABT]
• The Charles Schwab Corporation [SCHW]
• Prologis, Inc. [PLD]
• The Bank Of New York Mellon Corporation [BK]
• U.S. Bancorp [USB]
• Marsh [MRSH]
• The Travelers Companies, Inc. [TRV]

Earnings (Aftermarket):
• Netflix, Inc. [NFLX]

Economic Reports:
• Initial jobless claims (April 11): 8:30 am
• Philadelphia Fed manufacturing survey (April): 8:30 am
• Industrial production (March): 9:15 am
• Capacity utilization (March): 9:15 am

Fed Speakers:
• New York Fed President John Williams speaks: 8:35 pm
• Fed Governor Stephen Miran speaks: 10:35 am

One growth name saw a repeat cluster. One biotech leadership team joined in.

A high-growth consumer internet name just logged another $32 million-plus in insider selling across multiple executives, while a biotech leadership bench sold more than $5.7 million combined over two sessions. That is the kind of coordinated selling that tells you insiders were happy to take cash at these levels.

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Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) just delivered the kind of quarter that keeps the AI spending story intact. First-quarter profit jumped 58% to a record T$572.5 billion, the company raised its full-year revenue outlook to growth of more than 30%, and management said capital spending will land at the high end of its $52 billion to $56 billion range.

The second-quarter guide was strong too, with revenue expected at $39 billion to $40.2 billion, up sharply from $30.1 billion a year ago. That is not a theoretical demand.

It is real volume flowing through one of the most important manufacturers in the world. TSM also said demand tied to AI remains extremely robust, while 3-nanometer chips now make up 25% of sales, up from 6% in the third quarter of 2023.

The stock closed at $375.10, up 147% over the past year, so the market already believes. The question now is how much more upside is left if expectations stay this high. Management sounded confident, but it still flagged macro uncertainty and supply-chain risks tied to the Middle East.

My Take For You: This remains one of the clearest large-cap ways to own the AI buildout through real production, not just hype. The setup still looks strong, but it makes more sense to add on dips than chase at record levels.

My Verdict: It’s a great company, just a little overheated. Buy it if it gives up some gains, but keep it on your watchlist at least while AI demand and margins stay this firm. The risk is that geopolitical disruptions or a capex slowdown cool the story after a huge run.

Allbirds Inc. (NASDAQ: BIRD) ripped higher after saying it plans to pivot from sneakers into AI computing infrastructure, raise $50 million through convertible financing, buy GPUs, and eventually rebrand as NewBird AI.

The headline was enough to send the stock up more than 400% at one point, which tells you exactly what kind of market mood this tapped into.

The problem is that the underlying business gives investors almost no reason to assume this shift deserves instant credibility. Allbirds has been shutting stores, sold its brand and footwear assets for $39 million last month, and came into this week having lost about 99% of its value from its public-market peak.

Now it wants the market to treat it like an AI infrastructure play with little detail on strategy, customers, or execution.

That does not mean the move cannot run further in the short term. These pivots can stay hot longer than they should. But there is a major difference between a stock going up and a business becoming stronger. Right now, this looks much more like the first one.

My Take For You: Treat this as a speculation wave, not an investment case. If you touch it at all, keep it tiny and assume volatility will be extreme.

My Verdict: It’s almost a joke, right? Avoid chasing the spike. The risk is that the AI pivot proves to be a headline trade with no operating substance behind it.

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NuScale Power Corp. (NYSE: SMR) caught a strong bid after fresh U.K. support for small modular reactor development lifted sentiment across the sector. The stock climbed 14.7% during the session, added more after hours, and saw trading volume jump to roughly 57.5 million shares, about 119% above normal, as investors rotated back into nuclear names.

The enthusiasm makes sense on the surface. Small modular reactors are tied to some of the market’s favorite themes right now, including grid reliability, carbon reduction, and the growing power needs of AI infrastructure.

But the company itself was not the direct recipient of that U.K. support, and the underlying business still has real holes. Recent quarterly revenue came in at just $1.81 million against expectations of $8.76 million, while earnings missed badly and net margin remained deeply negative.

There are also legal and insider-selling issues hanging over the stock. Multiple class-action claims are active, and insiders have sold more than 14 million shares worth about $171 million over the past three months.

My Take For You: The nuclear theme is getting stronger, but this name still carries major execution risk and headline risk. It can trade well in bursts, but it is not a clean story yet.

My Verdict: Keep this as a speculative watchlist name. The risk is that funding, lawsuits, or project delays overpower the sector momentum.

D-Wave is ripping again as traders pile back into quantum after a brutal reset. The stock is up more than 220% over the past year, and this latest bounce is being driven by sector heat, better visibility, and a fast reversal after months of selling.

The problem is the business still has real cracks. D-Wave posted a net loss of about $355 million, faces dilution risk from more than 10 million shares that early investors can resell, and still has supply chain pressure hanging over it.

IonQ is higher because this rally actually has substance behind it. The DARPA contract matters, the photonic entanglement breakthrough matters, and the company already put up $61.9 million in Q4 revenue versus $40.3 million expected. That is a much stronger foundation than most of the names in this space.

The stock is still speculative, but it is one of the few quantum names with real commercial traction, real government interest, and a revenue guide of $225 million to $245 million for 2026. That gives this move more credibility than the usual concept-stock squeeze.

Pepsi beat cleanly, with $1.61 in adjusted EPS against $1.55 expected and $19.44 billion in revenue versus $18.94 billion. The bigger detail is that North American food volumes turned positive again, which hits right at one of the market’s main concerns.

And yet the stock is barely moving. That usually tells you the quarter was solid but not game-changing. Pepsi is a mature defensive name, not a momentum rocket, so beats like this tend to support the floor more than spark a breakout.

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That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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