Daily Market BriefTechnology

AI Chip Wars Heat Up; Dell, Salesforce Post Gains

Nvidia enters PC chip market with RTX Spark as Dell raises guidance and Salesforce beats estimates amid enterprise AI adoption surge

Money365.Market AI
2 min read
Market MoodRisk-On
Sentiment+68Bullish

Key DriverNvidia's RTX Spark PC chip launch and strong enterprise AI earnings from Dell and Salesforce drive tech sector optimism

Today in 30 Seconds

  • Nvidia unveils RTX Spark PC chip, challenging Intel and AMD in personal AI
  • Dell price target raised to $500 on 'exceptionally strong' Q1 results
  • Salesforce beats with $11.13B revenue (+13% YoY) and $3.88 adjusted EPS
All Briefs

AI & Semiconductors

Bullish
$NVDA$INTC$AMD$QCOM

Nvidia unveiled the RTX Spark, described as the most efficient PC chip ever built and designed for personal devices to run AI agents that can act autonomously. The move represents an effort to disrupt Intel ($INTC) and Advanced Micro Devices ($AMD)'s dominance of the PC chip market, with Nvidia using technology licensed from Arm Holdings. Meanwhile, Qualcomm ($QCOM) stock slid premarket as CEO Cristiano Amon's Dragonfly AI push was overshadowed by Nvidia's Computex announcements, though Amon highlighted that future AI systems will require "gazillions" of tokens and pointed to opportunities in robotics, automotive AI, and AI-native 6G networks. The intensifying competition in AI chips across PC, mobile, and data center segments underscores the sector's rapid evolution.

Cloud & Software

Bullish

Salesforce Revenue

$11.13B+13%

Salesforce Adj EPS

$3.88

Dell PT (Bernstein)

$500
$CRM$DELL

Salesforce ($CRM) beat estimates with adjusted EPS of $3.88 and revenue of $11.13 billion, growing by 13% year-over-year, though guidance came in slightly below expectations. Analysts noted $CRM remains among the most undervalued AI stocks according to hedge fund positioning. Dell Technologies ($DELL) reported exceptionally strong fiscal Q1 results, prompting Bernstein analyst Mark Newman to raise the price target to $500 from $280 while maintaining an Outperform rating, noting the company is "firing on all cylinders." The results demonstrate continued enterprise demand for AI infrastructure and cloud-native software solutions despite macroeconomic uncertainty.

Big Tech Moves

Bullish

Alphabet ROICexgc

30.55%

Dell XPS 13 Price

$699

Dell XPS 13 (Student)

$599
$GOOGL$DELL$AAPL$UBER

Alphabet ($GOOGL) passed the "Caviar Cruise" quality investing screen, demonstrating strong growth, high profitability with ROICexgc of 30.55%, and a fortress balance sheet that appeals to long-term investors. Dell unveiled the XPS 13 laptop priced at $699 and reduced to $599 for students aged 16 and older, positioning it to compete with Apple ($AAPL)'s MacBook Neo, with Dell claiming the XPS 13 offers a better experience. Uber ($UBER) and Israel-based Autobrains announced plans to launch a robotaxi programme in Munich in collaboration with Nvidia, marking a push to scale autonomous ride-hailing in Europe with Munich serving as the first deployment city pending regulatory approval.

Looking Ahead

Neutral

SMCI Implied Downside

24%
$AVGO$SMCI$PLTR

Broadcom ($AVGO) is set to report earnings on June 3, with analysts currently far more bullish on the stock compared to Super Micro Computer ($SMCI), where the average analyst price target implies 24% downside. $AVGO has benefited from rising demand for AI chips and networking products used in large data centers. Investors will focus this week on labor market data while monitoring broader macroeconomic developments. Palantir ($PLTR) continues to attract attention as Wall Street analysts remain divided on valuation.

What to Watch

Tue, Jun 3

Broadcom earnings report

$AVGO
High

Risk Flags

NoteNvidia's PC chip launch intensifies competition with Intel and AMD in consumer AI market
NoteSalesforce guidance came in slightly below expectations despite earnings beat

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