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Nvidia’s 75% Margin Sets the AI Profitability Bar — But Rivals Are Closing In

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...
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Malaysia Morning Wrap: Ringgit Hits 8-Year High as Bursa Extends Rally

Quick Summary

  • Wall Street slid on AI recession fears and fresh Trump tariffs

  • Bursa Malaysia climbed, extending its post-CNY rebound

  • Ringgit surged to strongest level in 8 years vs USD

  • Government says stronger currency won’t derail exports

Wall Street Recap: AI & Tariff Shock

US markets fell sharply as investors reacted to:

  • A Citrini Research warning that AI could push US unemployment to 10% by 2028

  • President Donald Trump raising global tariffs from 10% to 15%

  • Growing geopolitical tension with Iran

Index Performance:

  • Nasdaq: -1.13%

  • S&P 500: -1.04%

  • Dow Jones: -1.66%

Major decliners included:

  • IBM (-13.1%)

  • American Express (-7.2%)

  • Visa (-4.5%)

  • JPMorgan Chase (-4.2%)

  • Salesforce (-3.8%)

Meanwhile, safe-haven metals surged:

  • Silver futures: +7.6%

  • Gold futures: +3.4%

Bursa Malaysia: Ringgit Steals the Show

The FTSE Bursa Malaysia KLCI rose 0.29% to 1,757.98, extending gains after the Chinese New Year rally.

Market Movers:

  • Top Gainer: PPB +2.76%

  • Top Loser: PCHEM -4.64%

Ringgit Strength:

  • USD/MYR: RM3.891 (-0.31%)

  • Strongest level in 8 years

Deputy Economy Minister Datuk Mohd Shahar Abdullah said the appreciation reflects:

  • Solid economic fundamentals

  • 28 consecutive years of trade surplus

  • 9.2% rise in trade balance to RM151.8 billion (2025)

Key message: Stronger ringgit is unlikely to significantly hurt exports.

Stocks to Watch

United Plantations (UTDPLT)

  • FY2025 net profit: RM830m (+15%)

  • Revenue: RM2.51b (+14%)

  • Boosted by record crude palm oil yields

Sunway Construction (SUNCON)

  • FY2025 net profit: +93.6% to RM361.8m

  • Revenue exceeded RM5b for the first time

  • Declared record 50.5 sen dividend

Petronas Chemicals (PCHEM)

  • Posted fourth straight quarterly loss

  • 4QFY2025 net loss: RM754m

  • Expects challenging 2026 conditions

TSR Capital (TSRCAP)

  • Secured RM99m KL-Karak Highway widening contract

Gadang Holdings (GADANG)

  • Won second highway widening contract worth RM95.14m

Market Takeaway

Malaysia is diverging from Wall Street’s volatility.
While US markets wrestle with AI disruption fears and tariff uncertainty, Malaysia benefits from:

  • Currency strength

  • Resilient trade surplus

  • Commodity and construction momentum

The stronger ringgit signals confidence in Malaysia’s fundamentals — but export competitiveness remains a key variable to monitor.

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