Jensen Huang joins the U.S. stock trading call team | Rewire News Morning Report

Jensen Huang names Marvell as the next trillion-dollar company. The White House signs a toothless AI executive order, while SpaceX launches the largest IPO in history at $1.75 trillion. Regulators are requesting, markets are pricing.

1｜Jensen Huang publicly endorses Marvell as the next trillion-dollar company, as interconnectivity replaces computing power as the new bottleneck

The Computex 2026 opening saw Jensen Huang make a surprise appearance during Marvell CEO Matt Murphy’s keynote, publicly predicting Marvell will become the next company to reach a market value of over one trillion dollars. Marvell’s stock price rose 7% that day to a record high. This is a rare instance of Jensen Huang publicly endorsing a single partner to the “trillion-dollar club” level.

The logic behind the endorsement lies in the changing bottleneck in AI data centers. Huang emphasized Marvell’s role in high-speed interconnects and custom ASICs, especially as the compute ceiling hits a wall with Nvidia itself. The bottleneck is shifting from single-chip performance to inter-chip communication. Marvell also supplies custom AI chips for Amazon and Microsoft, which are potential competitors to Nvidia. On March 31, Nvidia invested $2 billion in Marvell to bind the NVLink Fusion interconnect standard. Huang’s endorsement signals to the industry: the interconnect standards are in Nvidia’s hands, and those making custom chips should get involved.

(Source: CNBC / Digitimes / Yahoo Finance / Nvidia Computex)

2｜Trump signs AI executive order, replacing mandatory licensing with voluntary 30-day reviews

On Monday, Trump signed an AI executive order requiring tech companies to voluntarily provide a 30-day testing window to the government before releasing the most powerful models. The order explicitly prohibits establishing mandatory licensing or pre-approval systems. The 30-day period is a compromise: a leaked draft initially called for a 90-day pre-review, which was lobbied down to 14 days, finally settling at 30 days.

The order also mandates federal agencies develop AI cybersecurity capability assessment benchmarks and establish an AI cybersecurity information exchange center. But the core signals are in the posture, not the details. The White House needs to show “I’m in charge of AI,” but cannot offend tech companies that are donating politically to the Republican Party. The final product is a document precisely stuck in the “seems useful but won’t really hinder anyone” zone.

(Source: NPR / NBC / CNBC / Washington Post)

3｜Microsoft Build 2026, from quantum chips to autonomous agents

At Build 2026, Microsoft unveiled three major initiatives. Scout is a 24/7 autonomous personal agent that proactively coordinates schedules, drafts documents, and flags risks across Teams, Outlook, and OneDrive without user prompts. Majorana 2 quantum chips extend qubit lifespans by 1,000 times, enabling Microsoft to cut its scalable quantum computing timeline in half to 2029. The third initiative is a comprehensive hardware partnership with Nvidia, deploying AI agents on local Windows devices and in the cloud. Microsoft also announced seven internally developed “MAI” foundational models, including the first inference model Mai-Thinking-1.

From chips to models to agents, Microsoft is building a complete tech stack independent of OpenAI.

(Source: Microsoft / Yahoo Tech / The Neuron / Seeking Alpha)

4｜SpaceX launches IPO at $1.75 trillion valuation, the largest in history

SpaceX plans to go public on Nasdaq on June 12, with ticker SPCX, valuing the company at $1.75 trillion and raising approximately $75 billion, more than 2.5 times the $29.4 billion raised in Saudi Aramco’s 2019 IPO. The company has previously merged with Elon Musk’s xAI, has over 9 million Starlink users, and is expected to generate $15-16 billion in revenue, which underpins its valuation.

Roadshow begins June 4, with pricing on June 11. A $1.75 trillion valuation means SpaceX’s IPO immediately places it alongside Meta and Berkshire Hathaway—companies that took decades of public market operations to reach this level. In the same week, Anthropic is also pushing for an IPO, marking a surge in mega-IPOs and a systemic breakthrough in private market valuation ceilings.

(Source: CNBC / Crypto Briefing / TradingKey / SEC)

5｜European Central Bank confirms gold has replaced US Treasuries as the world’s top reserve asset

The ECB’s latest report shows that by the end of 2025, gold accounts for 27% of global central bank reserves, up from 20% a year earlier, while US Treasuries declined from 25% to 22%. This is the first time since 1996 that foreign institutions hold more gold than US Treasuries. The World Gold Council reports that central banks’ gold holdings are valued at nearly $4 trillion, surpassing the approximately $3.9 trillion in US debt holdings.

Behind the numbers is a structural shift. After the US froze Russia’s dollar reserves in 2022, countries like China, Poland, Turkey, and India have been aggressively buying gold. ECB President Lagarde openly stated “geopolitical tensions continue to drive central bank gold demand.” De-dollarization is no longer rhetoric but a confirmed structural reality, according to ECB data.

(Source: European Central Bank / Financial Times / Mining.com / World Gold Council)

6｜Uber spends entire 2026 AI budget in four months, caps monthly spending per engineer

Uber exhausted its full-year AI programming tools budget within the first four months of 2026. The company then imposed a hard cap of $1,500 per month per employee for each AI tool, targeting tools like Cursor and Claude Code. Previously, some engineers’ monthly token consumption ranged from $500 to $2,000.

The company also launched an internal dashboard allowing employees to track AI tool usage and costs in real time, along with an approval process for exceeding limits. Uber’s experience is not unique. As AI programming tools move from trial to full deployment, explosive growth in token consumption is becoming an unexpected cost factor in enterprise AI adoption.

(Source: TechCrunch / Bloomberg / PYMNTS / SEC)

Worth knowing ↓

Trump appointed Federal Housing Finance Agency Director Bill Pulte as acting National Intelligence Director, replacing Gabar, who resigned after her husband was diagnosed with bone cancer. Pulte has no intelligence experience and continues to serve as FHFA director and as chairman of Fannie Mae and Freddie Mac. One person, three roles—making the intelligence director position a part-time role. (Source: CNBC / Mediaite)

Anthropic has expanded Mythos models and Project Glasswing security scans to 150 organizations across 15 countries, covering critical infrastructure such as power, water, healthcare, and communications. The first 50 partners have identified over 10k high-risk or severe security vulnerabilities. New partners include Samsung, SK Hynix, NATO, and the EU Cybersecurity Agency ENISA. (Source: Anthropic / TechCrunch / CNBC)

Bernie Sanders proposed the “U.S. AI Sovereign Wealth Fund Act,” requiring the largest AI companies to pay 50% of their taxes in stock at once, with the federal government gaining voting rights and equal board seats. Names include OpenAI, Anthropic, and xAI. The bill’s chances of passing are low, but the politicization of AI wealth distribution has begun. (Source: Washington Times / Tom's Hardware / Benzinga)

SK Hynix announced plans to double HBM capacity by expanding factories in Korea and the US to meet surging AI chip demand. On the same day, SK Hynix was included in Anthropic’s Mythos security scan partnership, as AI demand drives both physical expansion of the supply chain and security scrutiny. (Source: Reuters / Cybersecurity Dive)

Meta is reducing data collection for mouse tracking on Facebook and Instagram, after the feature drew European privacy regulatory attention. Data collection has been scaled back from full to sampling, but Meta has not completely ceased the practice. (Source: The Verge)

Bitcoin fell below $69,000, giving back some of last week’s gains. Global risk assets face short-term capital outflows ahead of mega-IPOs like SpaceX. (Source: CoinDesk)

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