Squawk on the Street Tech Earnings Reaction: A Wild Ride for Nvidia and Salesforce 2/26/26
Feb 26, 2026
Big tech earnings take center stage with Nvidia's AI-fueled surge and wild intraday swings. Salesforce's results and buyback plans spark debate about a so-called SaaS downturn. Snowflake, Databricks and enterprise data demand get attention. Robots in China and the first-ever annual loss at a major automaker add global manufacturing drama.
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NVIDIA Is Now A Platform Fueled By OpenAI And Anthropic
- NVIDIA's growth is driven by AI demand beyond hyperscalers, with data center revenue up 75% and 75% operating margins.
- Jim Cramer highlights Anthropic and OpenAI as new massive customers shifting NVIDIA from a chip seller to a platform provider.
Skepticism Targets NVIDIA's Customers Not NVIDIA
- Market skepticism about NVIDIA centers on the profitability of its big customers, not NVIDIA itself.
- Cited concern: hyperscalers borrow heavily for AI CapEx, creating a gap between revenue commitments and near-term profits for customers.
Agents Will Integrate With Existing Systems Of Record
- Jensen Huang framed 'agents' and system-of-record integration as central to enterprise AI adoption.
- He argued agents will populate and use existing systems of record, preserving those as ground truth while enabling automation.