Saxo Market Call AI disruption trade finally hit a speed bump. Nvidia and other key names reporting.
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Feb 25, 2026 Discussion of a viral research piece shaking up AI disruption stocks. Preview of Nvidia results, volatility and China demand questions. Big corporate moves like Meta’s major AMD commitment and its ripple across chip suppliers. Yen weakness after dovish Bank of Japan appointments and the resulting lift in gold and silver. A rundown of key SaaS reports and broader market index moves.
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AI Disruption Trade Hit A Speed Bump
- The AI disruption trade paused after a viral Satrini Research piece triggered a sell-off and then a rebound in beaten-down AI names.
- John Hardy highlights Nvidia, Salesforce, Adobe and Snowflake bouncing, with Nvidia earnings after the close seen as the key volatility trigger.
Treat Nvidia Earnings As A Volatility Catalyst
- Watch Nvidia's post-close report for margin and demand signals, especially China H200 chip demand and ability to lift the stock above resistance near 195.
- Hardy notes implied vol is modest into the print, suggesting potential for meaningful post-earnings moves.
SaaS Earnings Could Make Or Muddle AI Story
- Several key software-as-a-service names report after the close, notably Salesforce, Snowflake and Zoom, which could produce a mixed picture for the AI narrative.
- Hardy warns that combined reports may either validate the AI trade or leave markets with a muddled view.