The AI Buyback Wave: Rule Breaker Signal or Noise?

U.S. intelligence agencies suspect a Megaspeed executive, Alice Huang, of gathering intelligence for China and having ties to Nvidia CEO Jensen Huang. Nvidia denies any wrongdoing, stating that dealings were ordinary business. Megaspeed's Malaysian affiliate reportedly purchased $4.8 billion in AI equipment with Nvidia chips from June 2024 to February 2026, according to The New York Times.

Bank of America named Micron Technology (MU) its top stock pick, maintaining a buy rating with a $1,550 price target, up from its current trading price of $877.55. The firm cited Micron's strategic positioning in the memory market, long-term value, and plans for increased capital returns to shareholders. Micron's management highlighted tighter market conditions expected in 2027 and 2028, and the company's technology leadership in AI-related memory products.

U.S. intelligence investigated a Chinese spy plot targeting Nvidia CEO Jensen Huang, according to anonymous sources cited by the New York Times. Alice Huang, an executive at Singapore-based Megaspeed, was allegedly surveilled for potential ties to China. Nvidia denied any wrongdoing, stating that Jensen Huang's interactions were standard business meetings. The company also claimed no sensitive information was shared. (NVDA)

Micron (MU), SanDisk, and SK Hynix shares fell in premarket trading after Samsung Electronics reported record earnings that missed market expectations. Samsung's net profit was 75.14 trillion won, below the 86.13 trillion won forecast, leading to a 4% drop in its shares. Despite strong operating profit and revenue growth, investors focused on the earnings shortfall and lack of shareholder payout details.

Sandisk (SNDK) reports strong data center revenue growth, driven by AI demand. Q4 2026 data center revenues rose 103% sequentially to $2.98B, and fiscal 2026 revenues increased 437% YoY to $5.15B. The company is expanding its product portfolio and securing long-term customer agreements. Management expects continued growth in data center demand. Competitors Micron (MU) and SK hynix (SKHY) also report strong AI-related demand. SNDK shares have surged 491.8% YTD, with a forward P/S of 3.88X.

Micron (MU) shares fell 2.6% after Samsung (SSNHZ) reported Q4 earnings below expectations, despite record profits. Samsung's net profit was 75.136 trillion won, missing estimates of 86.13 trillion won. Revenue doubled to 195.253 trillion won, with operating profit up nearly ninefold. Samsung expects memory supply constraints to continue, supporting elevated semiconductor prices. Other chipmakers, including SanDisk and SK Hynix, also declined.