Asset Management and Custody Banks

Destiny Tech100

Today’s Key News Recap

NVDA

09618

89618

00700

80700

TCTZF

TCEHY

HTCD

02423

BEKE

OpenAI

DXYZ

09888

89888

HBUD

BIDU

02525

HSAI

ORCL

HJDD

ORCL-D

0519 | Dolphin Research Focus: 🐬 Macro/Industry 1) Trump announced on social media that, at the request of leaders of Qatar, Saudi Arabia and the UAE, the planned strike on Iran set for the 19th has been postponed. He said the US and Iran are in 'serious talks', while the three Gulf states fear an escalation could hit their own energy infrastructure. He also stressed that US forces remain on alert, warning that if talks collapse, a full-scale offensive would follow.This move keeps a window open for diplomacy while applying military pressure on Tehran. In the near term, it eases risks around Middle East oil prices and shipping, supporting global energy markets and risk appetite. Over the longer run, US-Iran rifts are unlikely to be resolved...

NVIDIA

JD-SW

JD-SWR

JD.com

TENCENT

TENCENT-R

Tencent Holdings Limited

Tencent

Tencent HK SDR 10to1

BEKE-W

BIDU-SW

BIDU-SWR

Baidu HK SDR 10to1

Baidu

HESAI-W

Hesai

Oracle

JD HK SDR 10to1

ORACLE CORP DEPOSITARY SH REP 1/2000TH PFD SER D

JD 618 Kicks Off Low-Price Deals; Tencent Speeds Up AI Monetization | Daily News Recap

SPCX

09868

XPEV

02015

SpaceX

01810

81810

HXXD

XIACY

0518 | Dolphin Research Focus: Macro/Industry. NBS data show Jan–Apr retail sales at RMB 16.49tn (+1.9% YoY).Apr alone was RMB 3.72tn, up just 0.2% YoY. Ex-auto retail rose 3.1% YoY, online retail +6.6%, and restaurant revenue +3.8%.The recovery remains weak, with Apr growth nearly stalling. Auto demand dragged and consumer confidence stayed soft, while online and services held up better, highlighting a clear divergence...

SPAC & New Issue ETF

XPENG-W

XPeng

LI AUTO-W

Li Auto

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Xiaomi YU7 GT launches Thu; Li Auto L9 misses ests., shares plunge | Daily News Recap

CoreWeave

Conference Minutes

CRWV

GOOG

GOOGL

Below is Dolphin Research's summary of $Coreweave(CRWV.US) FY26Q1 earnings call. For our full take, see 'CoreWeave: Can NVIDIA's 'godson' really ride the parent's coattails?'I. Key financial highlights recap. 1) Guidance: Q2 revenue is guided to $2.45-2.60bn and Q2 Adj. OP to $30-90mn. Q2 interest expense is guided at $650-730mn, with Q2 capex at $7-9bn.

Coreweave

Alphabet - C

Alphabet

NVIDIA Corporation

CoreWeave (Trans): Inference now >50% of compute usage

Financial Analysis

Meta Platforms

CoreWeave: Compute capacity sells, profits prove elusive — NVDA's 'foot soldier' merely scraping by?

INTC

MART

AVGO

MSFT

04335

09992

HPPD

0507 | Dolphin Research Focus: 🐬 Macro/Industry 1) Iran's Foreign Ministry spokesperson Baghaei confirmed it is still reviewing a U.S. peace proposal relayed via Pakistan, which includes a 14-point ceasefire plan, and has not formally responded. Tehran plans to feed back its comments through Islamabad once the review is complete.Iran says the proposal contains unacceptable provisions. Talks at this stage focus only on ending hostilities and do not involve the nuclear file.Washington has sent upbeat signals, with Trump saying the two sides could reach a deal soon. Tehran dismissed the media hype as false, emphasized that negotiations must be grounded in good faith, and noted that core differences remain, leaving the outlook uncertain...

Corning

Intel

Allianzim US Large Cap Buffer10 Mar ETF

Broadcom

Microsoft

INTEL-T

POP MART

POP MART HK SDR 20to1

Duan Yongping adds to Pop Mart; OpenAI leads 5 tech giants to launch MRC｜Daily News Recap

QCOM

AMZN

UBER

SHOP

GGLS

GGLL

May 6 | Dolphin Research Focus: Macro/Industry. The US SEC has proposed allowing listed companies to voluntarily file semiannual reports instead of quarterly reports, reducing periodic disclosures from four times a year to two. 🐬Companies could continue using Form 10-Q or switch to a new Form 10-S for half-year reporting. The proposal now enters a 60-day comment period and would take effect once adopted.The aim is to ease compliance burdens, curb short-termism among management, and support long-term planning. However, lower transparency and delayed data could weaken price discovery and exacerbate information asymmetry...

Disney

Qualcomm

Amazon

AppLovin

Uber Tech

Unity Software

ServiceNow

Shopify 

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Anthropic inks multi-bn compute pact with GOOGL; cloud chips ignite QCOM AI rally | Daily News Recap

AMD reported its Q1 2026 results after the U.S. market close on May 6 (Beijing time). The quarter covered the period ended Mar 2026. Key takeaways:1) Overall results: $AMD(AMD.US) delivered revenue of $10.25bn (+37.8% YoY), beating market est. of $9.9bn. Growth was led by Data Center and Client.GAAP GPM was 52.8%. It expanded 260bps YoY...

CPUs on a tear, Helios near—Is AMD finally turning the corner?

AMD 1Q26 First Take: A solid print, with a revenue beat driven by server CPUs.AI GPU (MI355) was soft, down slightly QoQ, pressured by revenue adjustments in China. Versus the recent AI GPU trajectory, the market is more focused on the upcoming MI450 family.AMD has signed collaborations with OpenAI and Meta, and MI450 will shift delivery from a single-chip model to rack-scale clusters. Beyond the quarter, guidance was strong.AMD guides next-quarter revenue of $10.9–11.5bn (+6–12% QoQ), topping the Street at ~$10.5bn; non-GAAP GPM is guided to ~56% (vs. 55.3% consensus). The expected beat next quarter is mainly driven by server CPUs.Dolphin Research estimates server CPU and related revenue could reach ~$3.8bn, up ~15% QoQ. Overall, AMD has entered an upswing.The recent share rally is largely powered by the server CPU cycle. The market’s original focus was on MI450 ramping in 2H, as AMD transitions from chip-level to system-level delivery, keeping 1H expectations muted.With model workloads shifting from training to inference, the importance of server CPUs has become more pronounced, pulling forward upside in results. Price increases and upgrades in server CPUs have laid the groundwork for full-year growth.If MI450 ramps and ships smoothly, it should bring incremental orders.A dual-engine AI stack of 'CPU+GPU' opens a larger upside for AMD. $AMD(AMD.US)

Reddit

RDDT

$Reddit(RDDT.US) delivered a solid Q1. As a key AI data source with highly authentic, real-time discussions, Reddit is enjoying referral tailwinds from Google and other gateways.Monetization is still early. The company is expanding beyond brand ads into performance ads to deepen monetization.The shift from 'people find content' via Search to 'content finds people' via Feed should be the next growth driver. Ad load on the platform remains below peers, leaving ample runway. This points to an attractive earnings ramp over the coming quarters...

MediaAlpha

RDDT: In the sweet spot as monetization accelerates

002245

Below is Dolphin Research's Trans of $Microsoft(MSFT.US) FY26Q3 earnings call. For our earnings analysis, please see 'Post‑breakup pains: When will Microsoft regain its mojo?'I. Core results recap. 1) Shareholder returns: $10.2bn was returned to shareholders this quarter via dividends and buybacks. 2) Key metrics: revenue of $82.9bn (+18% YoY; +15% cc) and GPM of 68% (down YoY, mainly due to AI infra build‑out and increased AI product usage...).

Jiangsu Azure Corporation

MSFT (Trans): Pricing Model Shifting from Per-Seat to Usage-Based

Destiny Tech100 Inc Announces $100 Million Investment in Anthropic

UBS Group AG Increases Holdings in Destiny Tech100

Destiny Tech100 Inc. NAV rose to $6.92 in Q2 2025

Destiny Tech100 Releases Q1 2025 Financial Report

Destiny Tech100 Shares Rise Driven by Technical Indicators

SpaceX Bidding for US Next-Gen Space-Based Missile Defense Program

Destiny Tech100 Inc. Announces Q4 2024 Earnings, NAV Rises to $6.44

Strategy Asset Managers LLC Increases Holdings in Destiny Tech100 Inc. by 71.4%, Holding 18,000 Shares

Trump Appoints Brendan Carr as New FCC Chair, Destiny Tech100 Stock Rises 12.89%

Destiny Tech100 released FY2024 Semi-Annual Earnings on August 29 (EST) with actual revenue of 167.33K USD and EPS of 0.31 USD

Destiny Tech100 released FY2023 annual earnings on February 29, 2024 (EST), with actual revenue of 360.46K USD and EPS of -0.38 USD

Destiny Tech100 released FY2022 Annual Earnings on March 27, 2023 (EST), with actual revenue of 184.25K USD and EPS of -0.36 USD

Destiny Tech100 released FY2021 Annual Earnings on March 27 (EST) with actual revenue of 0 USD and EPS of 0 USD

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

Wellgistics Health

Huachen AI Parking Management Tech

GeoVax Labs

Sunshine Biopharma

AIM ImmunoTech

Virax Biolabs

NextNRG

GCT Semiconductor

HIVE

RAMP

GENI

AVEX

ZETA

VOYG

HIVE Digital Tech(HIVE) rose 28.62%, with a trading turnover 391.7 Million USD, and a year-to-date rose 34.1%. LiveRamp(RAMP) rose 27.34%, with a trading turnover 494.6 Million USD, and a year-to-date rose 28.6%. T1 Energy(TE) rose 23.46%, with a trading turnover 584.4 Million USD, and a year-to-date rose 4.8%.

Top Gainers&Losers

HIVE Digital Tech

LiveRamp

T1 Energy

Genius Sports

Brady

Aevex

Bio-Rad Lab

Zeta Global

Voyager Tech

Top 10 US Stock Gainers (5.18)

AMBO

Ambow Edu fell 9.09% in after-hours trading; Destiny Tech100 rose 7.47% in after-hours trading; P3 Health Partners rose 53.35% in after-hours trading; Murano Global BV rose 42.83% in after-hours trading; Gemini Space Station rose 21.48% in after-hours trading

Price Alert

Ambow Edu

P3 Health Partners

Murano Global BV

Gemini Space Station

U.S. stock night market opening fluctuations: Ambow Edu fell 9.09% in the night market; Destiny Tech100 rose 7.47% in the night market

DOCS

LWLG

CRVS

ENVX

CSIQ

PDFS

Doximity(DOCS) fell 23%, with a trading turnover 452.3 Million USD, and a year-to-date fell 59.3%. Lightwave Logic(LWLG) fell 18.03%, with a trading turnover 256.9 Million USD, and a year-to-date rose 360.8%. Corvus Pharma(CRVS) fell 13.79%, with a trading turnover 54.8 Million USD, and a year-to-date rose 77.3%.

Doximity

Lightwave Logic

Corvus Pharma

Enovix

Prestige Brands

Canadian Solar

Legence - CL

PDF Solutions

Top 10 US Stock Losers (5.14)

Destiny Tech100 is a closed-end fund that issues a fixed number of shares, allowing investors to trade on the stock market without directly investing in private companies. It computes its net asset value (NAV) quarterly, with a recent NAV of $24.56 per share, while trading at a market cap of over $1 billion at $71.24 per share, reflecting a 190% premium. Experts warn of the opacity and high costs associated with such funds, cautioning that investors may incur losses during hype-driven trading.

Dow Jones

Why a buzzy fund that advertised stakes in hot -2-

WOLF

SLND

In the past hour, the overall market in the US stock market has shown a clear divergence, with technology stocks and the new energy sector performing particularly well. The strong rise of individual stocks such as Wolfspeed, Nextpower, and Destiny Tech100 has attracted significant attention from short-term funds, indicating that market enthusiasm for these areas remains high. Meanwhile, the decline of Southland stands out, reflecting a cautious selection of funds between high risk and high return. Overall, the market pace is relatively fast, with increased volatility and a noticeable rise in short-term heat. In the past hour, the stock with the largest movement, Wolfspeed, saw an increase of 11.71%, drawing strong attention in the market. The stock's rise seems to be driven by optimistic expectations for its future growth potential, with the influx of short-term funds making its performance more active. Strong stocks include: 1. Nextpower: up 10.99%, with recent market recognition of its technological innovations and significant fund inflow. 2. Destiny Tech100: up 10.54%, the strong performance of this stock is closely related to its leading position in the industry, attracting the attention of many investors. 3. Everspin Technologies: up 5.02%, in the context of an overall positive market, the stock's steady performance demonstrates its resilience. 4. Rocket Lab: up 3.76%, the activity of short-term funds has allowed this stock to maintain relative strength amid volatility

Wolfspeed

Nextpower

U.S. Stock Market Movement Update: Tech stocks rebound strongly, Wolfspeed up 11.71%, Southland down 9.49%

Destiny Tech100(DXYZ.US)