Nvidia Earnings Surge as US-Iran Tensions Escalate

Shares of Nvidia rose nearly 5% after the company exceeded earnings expectations and its CFO projected revenue growth of approximately 70% for fiscal 2028. The surge lifted US equity futures and bolstered European markets. Simultaneously, the US government is investigating Apex Logistics for allegedly smuggling AI chips to China.

In the Middle East, maritime security deteriorated in the southern Strait of Hormuz. Oman reportedly ceased cooperation with the United States regarding escorted tanker movements, and a Kuwaiti tanker was struck in the region. In response to ongoing tensions, the United States is considering the revival of a War-Spoils court to claim Iranian oil.

On the diplomatic front, US Trade Representative Judy Greer stated the US seeks mutual protection on steel and aluminum during trade talks with Canada. Meanwhile, Iranian Foreign Minister Abbas Araghchi urged the United Nations to reject what he termed US economic terrorism, and Chinese Foreign Minister Wang Yi met with the US Ambassador to discuss challenges in bilateral ties.