AI Chip Demand Keeps Investors Watching Nvidia Closely  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

February 03, 2026   |   Read Online Not a fan of Fred? Unsubscribe here.   AI Hardware Dependence Drives Market Sensitivity AI Chip Demand Keeps Investors Watching Nvidia Closely February 03, 2026 MorningBullets is the fastest way to catch up on the market and political news that matter most to your money. Quick takes, sharp insight, and curated opportunities—served fresh every weekday morning. Sponsored Content This Chart Pattern Looks Just Like TIO in Early 2023 Traders who got in early on $TIO saw outsized gains once the volume picked up. We're seeing something similar again — and it's not on the radar yet. Get the name and price setup — 100% free. 👉 Reveal the Ticker + Setup Now By clicking the link above you agree to receive periodic updates from our sponsor. The AI boom runs on chips, and markets are watching who supplies them Good Morning, Markets are pushing to fresh highs, but one of the biggest moves is coming from the plumbing behind the AI boom. Fresh chatter around OpenAI's future chip needs briefly shook Nvidia, reminding investors how sensitive tech stocks are to a few major buyers. We break down what was actually said, why the market reacted so fast, and what it could signal for the next phase of AI spending. If you're indexed to the S&P or riding the AI winners, this is the one to read. A $26B Devon–Coterra merger reshapes the U.S. energy landscape, Bitcoin tumbles below $75K amid tech sector drag and Fed uncertainty, and a government shutdown delays key economic data, clouding market visibility. Don't forget to voice your opinion in my polls below. Here are your Morning Bullets. – Truly yours, Fred Frost 📈 Yesterday's Market Recap Yesterday, U.S. markets roared back to life with the Dow climbing 515 points (1%) to 49,407.66, fueled by a January ISM manufacturing reading of 52.6—beating forecasts and signaling expansion after a year of contraction. The S&P 500 gained 0.5% to 6,976.44, just shy of a record, while Nasdaq rose 0.6% to 23,592.11. A new U.S.-India trade deal added to the optimism, though commodities like gold and oil slid. Manufacturing Beats Expectations: January's ISM index hit 52.6, surpassing the 48.4 consensus, marking the sector's first expansion in 12 months and boosting industrial stocks. → MarketWatch Commodities Stumble Despite Rally: Gold fell nearly $1,000 from its peak and oil prices dropped, as investors rotated into equities amid the market upswing. → ABC News U.S.-India Trade Deal Sparks Optimism: President Trump's announcement of a tariff-cutting agreement with India lifted investor sentiment, driving gains across major indices. → MarketWatch 📉 Daily Performance Snapshot Index/Asset Closing Value Change S&P 500 6,939.03 -0.43% Nasdaq 23,461.82 -0.94% Dow Jones 48,892.47 -0.36% Gold 4,879.60 +3.52% Crude Oil 61.17 +0.89% Bitcoin 78,739.00 +1.74% 10-yr Treasury Yield 4.26% +0.47% 🔭 What to Watch Today Today's calendar is packed with events that could sway markets—from earnings reports to geopolitical maneuvers. Keep your eyes peeled for these potential catalysts. U.S.-India Trade Deal Fallout: Markets react to the U.S. slashing tariffs on Indian goods to 18%, with India reportedly halting Russian oil purchases. Watch for volatility in energy and tech sectors. → CNBC PepsiCo Pricing Strategy Update: After a strong Q4 with $29.3 billion in revenue, PepsiCo plans price cuts on snacks like Lay's to win back consumers. Expect impact on consumer staples. → ABC News Government Shutdown Vote: A vote to end the partial U.S. government shutdown is expected today, which could delay key economic reports like JOLTS data. → Stocktwits 💡 Opportunity Watch Amidst market ups and downs, a few themes stand out for those willing to look beyond the headlines. Here are some potential plays worth your attention this week. Tesla's $41,990 Model Y AWD: Tesla's new low-cost AWD variant could reignite demand in a cooling EV market, especially post-federal credit loss. → Benzinga Credo Technology (CRDO) Rebound: After a 23% dip, Credo's 272% revenue growth and AI infrastructure tailwinds make it a compelling Strong Buy. → Seeking Alpha GameStop Acquisition Buzz: With $9 billion in cash, GameStop's potential retail buyout (eBay, Wayfair?) could pivot its business model—shares up 8.3%. → Stocktwits Sponsored Content 3 Under-the-Radar Stocks Worth a Look Amid chop, we're seeing early momentum in select small-caps. Our free note explains the thesis, names the tickers, and shows how to monitor the setups live. 📥 Send Me the Report + Alerts By clicking this link you will automatically be subscribed to the Market Pulse Today Newsletter. See our Privacy Policy. 🔥 The Big Bullet OpenAI chip rumors shake Nvidia, and Altman pushes back What happened: Nvidia shares moved after fresh talk that OpenAI may want different or "better" chips for running ChatGPT at scale. A MarketWatch note said a report claimed ChatGPT is looking for better chips, which quickly fed more rumor and debate. OpenAI CEO Sam Altman publicly pushed back on the idea that OpenAI is turning away from Nvidia. In one update, Altman called some of the Nvidia rumors "insanity" and praised Nvidia's AI chips. The message suggested OpenAI still plans to stay a major buyer, even as it looks for more computing power. Traders treated the comments as both a denial and a reminder of how important big AI customers are to Nvidia. The back-and-forth left investors trying to separate real supply needs from headline noise. The market reaction showed how fast AI supply-chain stories can move large tech stocks. Why it matters: Nvidia's business depends on big customers that buy huge amounts of chips, so any hint of a shift can hit the stock fast. Even small changes in expected demand can matter because AI chips are expensive and orders are often placed far in advance. Stocktwits highlighted how buzz about OpenAI "deal friction" showed up in premarket trading, which signals how closely investors are watching this relationship. If OpenAI stays a steady buyer, that supports the idea that AI spending is still strong right now. If OpenAI ever spreads purchases across more suppliers, that could reshape who wins the next wave of AI hardware sales. This also affects other parts of the chip world, like testing and factory equipment. A MarketWatch bulletin noted Teradyne jumped on an AI-fueled forecast, which suggests AI demand is lifting more than just one stock. For retail investors, the big takeaway is that "who buys what chips" can swing several tech names at once. What's next: Watch for any clear statement from OpenAI or Nvidia that confirms order plans, timelines, or new partnerships. If either company gives more detail on chip supply or pricing, markets may react quickly because expectations are so high. Also watch how OpenAI sets priorities inside the company, since focus and staffing can change what it builds and what it buys. A Benzinga report said OpenAI's ChatGPT focus is tied to senior staff departures, which could affect product roadmaps and spending choices. On the policy side, global talks on AI rules and cooperation can shape where data centers are built and how AI systems are used. CNBC reported China is set to attend India's upcoming AI summit, a sign that regional AI plans may be in motion. If governments push new AI standards, it could influence chip demand, cloud spending, and cross-border tech deals. Until there is firm news, expect more short, sharp moves when new rumors or comments hit the tape. How OpenAI and Nvidia depend on each other, and why even small signs of "tension" matter so much for investors watching AI spending. – Barrons Why GPUs Are Great for AI">Why GPUs are essential for training and running models like ChatGPT. – NVidia How AI demand lifts the entire chip ecosystem, including testing and manufacturing firms. – Finimize Reader Feedback Last time, I asked you: What do you think is making the stock market more nervous right now? The majority of you at 45% said "Big AI stocks feel overpriced" Jake from Washington replied: "I think the market feels nervous because AI stocks have gone up so much that they might be too expensive now." Here's what I'm asking you today: If OpenAI ever buys fewer chips from Nvidia, what do you think happens first? Nvidia stock drops fast Another chip company becomes the new winner The whole AI boom cools down Not sure/no opinion Other As always if your opinion is not here, or you want to throw your two cents at me, reply to the E-mail, and let me know your exact thoughts. 🧭 Policy & Market Ripples Devon-Coterra $26B Energy Merger: Devon Energy's all-stock acquisition of Coterra creates a $58B giant with 1.6M barrels daily output, targeting $1B in synergies by 2027. → Fortune Bitcoin Bear Market Below $75K: Bitcoin slipped under $75K, down 37% from October highs, hit by tech earnings woes and Fed nominee uncertainty. Ethereum and Solana also fell sharply. → CNBC Government Shutdown Delays Data: A partial shutdown since Saturday delays the January jobs report and risks other data like CPI. Resolution hinges on House votes this week. → Fox Business 📜 This Day in History – February 3 February 3 is a structural engineer at heart: big systems, new rights, and technologies that quietly become foundational. The milestones aren't loud — but markets and institutions still pivot around them. 1933 – Construction began on the Golden Gate Bridge, a capital-intensive bet that transformed regional mobility and became a global symbol of engineered optimism. 1870 – The Fifteenth Amendment was ratified, expanding voting rights and reshaping the long-term economics of political participation and representation. 1901 – Astronomers observed a transit of Mercury, another datapoint in the long arc of precision measurement — the kind that refines navigation, timekeeping, and celestial models. 1956 – The first overseas broadcast from Disneyland aired, showcasing how theme parks were evolving into media platforms as much as physical destinations. Today's Trivia What is the primary purpose of retirement savings accounts like IRAs or 401(k)s? A) To save and invest money for long-term retirement needs B) To fund short-term purchases C) To avoid paying all taxes permanently D) To guarantee risk-free high returns 87% of you chose the right answer to our previous trivia question: What does the term purchasing power refer to? The question isn't at what age I want to retire, it's at what income. – George Foreman Thanks for Reading. Stay Sharp. Stay Focused. Fredrick Frost Editor, MorningBullets   Update your email preferences or unsubscribe here © 2026 Morning Bullets 20 North Orange Ave. Floor 11 Orlando, Florida 32801, United States Terms of Service