Nvidia Disappoints & SpaceX Files for Record IPO | Daybreak Europe 05/21/2026

Summary

Bloomberg Daybreak Europe covers Nvidia's earnings beat that failed to meet lofty expectations, with CEO Jensen Huang highlighting physical AI as the next growth driver. Asian tech stocks rallied on the AI theme, while SpaceX filed for a record IPO. The Fed minutes showed officials warned of a possible rate hike, and President Trump signaled final stages with Iran, impacting oil prices. Other topics include UK political developments, easyJet earnings preview, and Barclays CEO on AI adoption.

• Nvidia reported a strong quarter but guidance fell short of the highest expectations, yet Asian tech stocks surged on Jensen Huang's physical AI comments.
• SpaceX publicly filed for what could be the largest IPO ever, revealing a net loss of $4.28 billion on $4.69 billion in Q1 revenue.
• Fed minutes indicated many policymakers warned of potential rate hikes if inflation remains above target; markets are pricing a 50% chance of a hike by year-end.
• President Trump said the US is in final stages with Iran, but oil prices rebounded as traders remained skeptical of a deal.
• UK gilt yields moved on political uncertainty around a potential Labour leadership change, with a strategist seeing value in long-dated gilts.
• EasyJet reported earnings after a profit warning, with analysts focusing on forward bookings and fuel hedging.
• Barclays CEO cautioned that AI adoption may be slower than expected, posing risks to high tech valuations.
• PMI data releases across Europe are expected to show continued stagflationary pressures.