News
The day at a glance · 3 min read
Mood · Cautious
+15
Sentiment, −100 to +100
SpaceX-Cursor Deal Value
$60B
AI & Infrastructure Developments
NVIDIA Market Cap
$4.8T
AI & Infrastructure Developments
ServiceNow New Price Target
$135from $180
Cloud & Enterprise Software
Key driverAI infrastructure investments and enterprise software guidance adjustments dominate as earnings season unfolds
Daily briefTech Sector· Money365.Market AI ·

Tech Sector: AI Infrastructure, Cloud Deals Lead Action

SpaceX enters AI coding race with $60B Cursor deal; Meta secures 100GWh energy storage for AI data centers

AI & Infrastructure Developments

Bullish
METANVDA
The AI infrastructure buildout accelerated with SpaceX lining up a $60 billion deal for AI start-up Cursor, marking the rocket manufacturer's entry into the AI coding race against competitors like OpenAI and Anthropic.
Meta ($META) announced a partnership with Noon Energy on a 100GWh energy storage deal to support AI data center operations by enabling multi-day power from renewable energy sources. Meanwhile, NVIDIA ($NVDA) CEO Jensen Huang reflected on the company's near-failure history as the chipmaker now commands a market capitalization of $4.8 trillion, noting its disciplined approach of investing in foundation model companies while avoiding direct competition with partners has produced tangible results.

Cloud & Enterprise Software

Neutral
NOWDOCUDDOG
ServiceNow ($NOW) faced a reduced price target from Deutsche Bank, which lowered its target to $135 from $180 while maintaining a Buy rating ahead of Q1 results, noting the company is "controlling what it can" in a challenging environment.
DocuSign ($DOCU) continued to attract takeover speculation as it pushes deeper into Intelligent Agreement Management, announcing on March 31 that it was bringing its platform into Slackbot to let teams generate, review, and route agreements inside Slack while pulling real-time Salesforce data.
Datadog ($DDOG) saw stockholders approve redomiciliation from Delaware to Nevada according to an SEC filing.

Semiconductors & Hardware

Neutral
INTCAVGO
Intel ($INTC) is set to report Q1 earnings results Thursday afternoon, with investors watching for updates on the computer processor maker's performance.
Broadcom ($AVGO) shares sit just below record highs as analysts upgrade earnings estimates. Suppliers are quietly benefiting from the massive AI buildout, with Amazon's AI deals lifting others in the ecosystem.

Consumer Tech & Media

Bullish

Netflix Price Target (Seaport)

$119+from $115

Netflix Current Price

$92.58

Wall Street Upside Potential

44%
NFLX
Netflix ($NFLX) received a raised price target from Seaport Research to $119 from $115 with a maintained Buy rating on April 16, with analysts noting the first half of the year may appear softer due to the timing of content spending. Wall Street analysts see 44% upside potential for $NFLX. The streaming company is in advanced discussions to acquire the historic Radford Studio Center in Los Angeles, at a current share price of $92.58, which would represent Netflix's first direct purchase of a major Hollywood studio lot and signal a deeper commitment to in-house production infrastructure.

Other Sector Developments

Bullish

2026 Earnings Growth Forecast

18%
DELLUBER
Dell ($DELL) stock gained momentum after Michael Dell teased a major announcement, triggering investor excitement though details remain undisclosed.
Uber ($UBER) revealed a major stake and deal with Lucid, deepening its investment and robotaxi plans. Broader market sentiment improved as earnings are set to surge 18% this year, with investors less worried that the Middle East conflict would derail the bull market given earnings strength.

Looking Ahead

Neutral
INTCNOWNFLX
Investors will focus on Intel's Q1 earnings report Thursday afternoon for insights into semiconductor demand trends.
ServiceNow's Q1 results will provide clarity on enterprise software spending in a challenging environment. The SpaceX-Cursor deal, if completed, will intensify competition in the AI coding space as the IPO looms, while Netflix's potential Radford Studio acquisition could reshape its content production strategy.

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