Quick Summary Nvidia posted a 75.2% adjusted gross margin , among the highest in Big Tech AI hyperscalers plan US$650B capex in 2026 , much flowing to Nvidia Rivals like AMD, Alphabet and Amazon are gaining traction Long-term margin sustainability remains the key investor question Margins Steal the Show While investors already expected strong demand, NVIDIA Corp surprised with something even more impressive: Adjusted gross margin of 75.2% , the highest since late 2024 — and management expects similar levels next quarter. For a nearly US$5 trillion company , that margin signals extraordinary pricing power in AI hardware. AI Spending Wave Still Intact AI hyperscalers are forecasting ~US$650 billion in capex for 2026 , up roughly 60% from 2025. Nvidia remains the primary beneficiary as demand for data centre GPUs continues to surge. But maintaining 75% margins depends on two big factors: 1️⃣ Supply Constraints Rising memory costs remain a ris...
Quick Summary
Wall Street rebounded, led by AMD’s 8.8% surge on a major AI chip deal with Meta
FBM KLCI slipped 0.23%, ending a four-day winning streak
Malaysia’s reserves hit US$127.9 billion, highest since 2014
PM Anwar says Malaysia won’t rush decisions after US tariff reversal
Wall Street Recap: AI Optimism Returns
US markets bounced back as investors viewed Monday’s AI selloff as overdone.
Nasdaq: +1.04%
S&P 500: +0.77%
Dow Jones: +0.76%
The rally was driven by:
Advanced Micro Devices (AMD) +8.8%
Following a massive AI GPU order from Meta Platforms
Intel +5.7%
After investing US$350 million in AI chip startup SambaNova
IBM and Salesforce also rebounded
Precious metals were mixed amid tariff and geopolitical tensions:
Gold futures: -0.7% to US$5,186
Silver futures: +1%
Bursa Malaysia: Mild Profit-Taking
FBM KLCI: 1,754.01 (-0.23%)
Top gainer: Petronas Dagangan Bhd (PETDAG) +2%
Top loser: PETRONAS Chemicals Group Bhd (PCHEM) -5.78%
USD/MYR: 3.8938
The index trimmed earlier losses but ended lower, snapping a four-session rally.
Malaysia’s Reserves Hit Multi-Year High
Bank Negara Malaysia reported:
US$127.9 billion in international reserves (as of Feb 13)
Highest level since 2014
Covers 4.7 months of imports
Equivalent to 0.9x short-term external debt
Strong reserves provide a solid buffer amid global volatility.
Trade Watch: Malaysia Won’t Act Hastily
Prime Minister Anwar Ibrahim said Malaysia will not rush decisions after Washington’s emergency tariffs were overturned.
The government is:
Monitoring US developments closely
Assessing whether President Donald Trump introduces new provisions
Focused on safeguarding Malaysia’s trade interests
Policy stance: Calm, data-driven, strategic.
Stocks to Watch
PETRONAS Gas Bhd (PETGAS)
Q4 net profit -12.7% YoY
Weaker gas transport earnings
Petronas Dagangan Bhd (PETDAG)
Q4 net profit +3.9%
Revenue hit record RM10.58b
IOI Corporation Bhd (IOICORP)
Net profit surged nearly 5x (FX gains driven)
Downstream outlook remains challenging
MR DIY Group (M) Bhd (MRDIY)
Dividend payout at 119.8% of earnings
Revenue +6.5%
Unisem (M) Bhd (UNISEM)
Net profit up sixfold
Revenue +16.7%
Gas Malaysia Bhd (GASMSIA)
Q4 net profit -22.5%
SLVEST Holdings Bhd (SLVEST)
Net profit +46%
Supported by solar farm contracts
Bottom Line
Malaysia enters the week with:
Strong external buffers
A cautious but stable trade stance
Select corporate earnings divergence
While Wall Street regains AI momentum, Bursa remains range-bound amid sector rotation and earnings-driven moves.
Key Takeaways
AI optimism back in US markets
KLCI pauses after four-day rally
Malaysia reserves at 10-year high
Govt adopts wait-and-see approach on US tariffs
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