HPE delivered the biggest earnings beat in years. Hewlett Packard Enterprise reported fiscal Q2 adjusted EPS of $0.79 — obliterating the $0.54 consensus — on record revenue of $10.68 billion versus a $9.74 billion estimate. The company pulled its long-term financial targets forward by two years, signalling explosive AI server demand. Shares surged approximately 25–26%, their biggest single-day gain since the company’s 2015 separation from HP. CEO Antonio Neri described the quarter as a turning point for HPE’s position in the AI infrastructure race.

Nvidia anointed Marvell at Computex. On stage in Taipei, Nvidia CEO Jensen Huang declared Marvell Technology could be “the next trillion-dollar company,” sending shares rocketing between 25% and 32% in one of the chip sector’s most dramatic single-session moves in recent memory. The endorsement underscored Marvell’s growing role in custom AI silicon and networking for hyperscale data centers.

Alphabet surprised markets — but not pleasantly. Google’s parent announced it would raise $80 billion through equity offerings — the largest such raise Wall Street has ever seen — to fund its AI infrastructure buildout. Berkshire Hathaway committed $10 billion to the round, a notable vote of confidence. But shares fell roughly 4% on dilution fears and questions about the scale of AI capital expenditure. The announcement reignited the AI-replacement debate across software stocks, sending ServiceNow, Salesforce, and Atlassian lower after their big Monday gains.

Generac Holdings gained 9% after securing a contract to supply backup power generators for a hyperscale operator’s data center network — a direct beneficiary of the AI buildout energy demand theme. Dollar General beat Q1 expectations and raised its profit outlook, with shares climbing on signs that value-conscious consumers remain resilient despite inflation.

Geopolitics remained a mixed signal. Oil pulled back modestly from Monday’s spike — Brent fell toward $93 — after President Trump reaffirmed on Truth Social that U.S.–Iran indirect talks are continuing “at a rapid pace,” partially offsetting fears of prolonged conflict. The Russell 2000 outperformed large caps with a +0.90% gain, suggesting some broadening of the rally beyond mega-cap AI plays.