NVIDIA Corporation (NASDAQ: NVDA) shares traded mixed to slightly lower in early trading on February 25, 2026, closing the prior session at $191.55 on February 23, up 0.91% that day but down modestly year-to-date amid broader tech sector caution. The AI chip leader’s stock has risen about 2.7% in 2026 so far, outperforming the Nasdaq’s 2.5% decline, as investors position for the company’s fiscal fourth-quarter earnings report due after market close Wednesday, February 25.

NVIDIA’s market capitalization hovers near $4.7 trillion, making it one of the world’s most valuable companies. The stock has shown resilience despite volatility, trading in a 52-week range from $86.62 to $212.19. Recent sessions saw NVDA fluctuate between roughly $187 and $194, with average daily volume exceeding 170 million shares during spikes.

The upcoming earnings report is highly anticipated as a litmus test for the AI infrastructure boom. Wall Street expects fiscal Q4 (ended January 2026) revenue of approximately $65.6 billion to $66 billion, up roughly 66-68% year-over-year, driven by explosive demand for Blackwell GPUs and data center accelerators. Adjusted earnings per share are forecasted at $1.50 to $1.53, compared to $0.89 in the prior-year quarter. Guidance for the April quarter is projected around $71.7 billion to $72.5 billion, implying continued triple-digit growth.

Analysts at Wedbush Securities and others highlight hyperscaler capex exceeding prior expectations, with servers and AI infrastructure forming the bulk of forward spend. NVIDIA’s data center segment, which accounted for the majority of revenue in recent quarters, remains the primary growth engine. CEO Jensen Huang has emphasized a multi-year AI factory buildout, estimating $3 trillion to $4 trillion in global investment through 2030, with NVIDIA positioned to capture significant share.

The company shipped millions of Blackwell GPUs in the past year, with Rubin architecture on track for late 2026 launch and subsequent variants (Rubin CPX, Rubin Ultra, Feynman) extending the roadmap into 2028. Sovereign AI, enterprise AI, AI-native startups, physical AI, and quantum computing represent additional long-term opportunities beyond traditional data centers.

Despite the optimism, skepticism has grown over the sustainability of massive AI spending. Wall Street has turned cautious on hyperscaler capex levels, with concerns that returns on investment may lag or that competition from AMD (following its Meta deal) and custom silicon from hyperscalers could pressure margins. Some investors, including Michael Burry, have questioned the scale of depreciation and free cash flow impacts from capex doubling or more in 2026.

NVIDIA’s stock has bucked broader tech weakness in 2026, supported by strong fundamentals. The forward P/E remains elevated but is viewed as justified by growth prospects. Institutional ownership stays robust, with funds like Vanguard and BlackRock maintaining large positions.

The earnings call at 5 p.m. ET on February 25 will feature commentary from Huang and CFO Colette Kress on Blackwell ramp, Rubin progress, and AI demand trends. A strong beat or optimistic guidance could spark a rally, while any signs of slowing growth or margin pressure might trigger volatility.

As NVIDIA approaches its fiscal Q4 results, the market awaits confirmation that the AI supercycle remains intact. With competition intensifying and capex scrutiny rising, the report will shape sentiment for the AI chip leader and broader tech sector in the months ahead.

Palantir Technologies Inc. (NYSE: PLTR) shares fell 3.43% on Monday, February 23, 2026, closing at $130.60 after trading as low as $127.39 and as high as $132.04. Volume reached approximately 52.3 million shares, slightly above average, as the AI software specialist faced pressure from broader market rotation, tariff-related uncertainty, and ongoing debate over its lofty valuation despite strong fundamentals.

The decline extended Palantir’s year-to-date losses to around 27%, with the stock down roughly 35-39% from its all-time high of $207.52 set in November 2025. The pullback reflects a shift in sentiment toward high-growth software names amid concerns over sustainability of AI spending and elevated multiples.

Palantir’s market capitalization stands at approximately $311-312 billion, supported by a massive cash position and consistent revenue acceleration. The company’s latest quarterly results, reported February 2, 2026, showed fourth-quarter 2025 revenue of $1.41 billion (up 70% year-over-year), adjusted EPS of $0.25 (beating estimates), and GAAP net income of $609 million. U.S. commercial revenue surged 137%, highlighting robust enterprise AI demand through platforms like Foundry and Gotham.

Management issued aggressive 2026 guidance: full-year revenue between $7.18 billion and $7.20 billion (implying 61% growth), with U.S. commercial revenue exceeding $3.144 billion. The outlook crushed consensus, underscoring Palantir’s momentum in AI-driven data analytics for government and commercial clients. CEO Alex Karp described the company as “an n of 1” in the AI software market, emphasizing its unique position combining high growth with GAAP profitability and a Rule of 40 score of 127%.

Despite the impressive numbers, the stock has struggled in early 2026 amid a broader SaaS and AI sell-off. Analysts point to valuation risks: the trailing P/E exceeds 200x, and the forward P/E remains elevated even after recent weakness. Consensus price targets hover around $191 (implying ~46% upside), with ratings split between Moderate Buy (12 Buy, 5 Hold, 2 Sell in recent months). Recent upgrades include Mizuho to Outperform at $195, Piper Sandler Overweight at $230, and others, but some firms maintain Hold or cautious views citing execution risks and potential slowdowns.

Palantir’s relocation of headquarters to Miami, Florida (announced mid-February 2026), added a positive note, with shares briefly rising 4.9% post-announcement to $135.24 on February 20. The move positions the company in a business-friendly state and has fueled speculation about future growth initiatives.

Key drivers include Palantir’s expanding AI bootcamps, which accelerate customer onboarding and adoption, and its focus on commercial AI platforms. The company continues to scale operating leverage as AI models advance, with analysts forecasting 62% growth in 2026 and 41% in 2027. However, critics argue that even aggressive projections imply the stock prices in several years of near-perfect execution, leaving little margin for error.

Institutional activity shows mixed signals: some funds have reduced stakes amid the pullback, while others increased positions. Insider buying by executives, including CEO Alex Karp, signals confidence, though governance questions (such as past CEO jet reimbursements) have surfaced in discussions.

Looking ahead, the next earnings report is expected May 4-11, 2026, with consensus EPS estimates around $0.26 for Q1. Investors will watch for updates on commercial momentum, government contracts, and any new AI product launches or partnerships.

Palantir remains a polarizing name: bulls see it as a leader in enterprise AI with durable growth, while bears highlight valuation froth and risks if AI hype cools or competition intensifies from rivals like Snowflake or custom solutions. The stock’s recent softness offers a potential entry for believers in its long-term story, but volatility persists in a market grappling with AI spending scrutiny and macroeconomic shifts.

RenewableUK Cymru has published its manifesto ahead of the Senedd Election in May

The next Welsh Government needs to deliver a joined up clean power strategy to avoid the risk of losing billions in investment and the creation of thousands of high-skilled jobs.

Ahead of the Senedd Election representative body for the sector, RenewableUK Cymru, has published its manifesto which outlines how Wales could unlock a £10bn of economic opportunity for Welsh businesses, create 8,000 secure, well-paid jobs, and deliver affordable, home-grown energy – providing government and industry work together in a formal clean power partnership.

The manifesto, entitled, Cymru Clean Power: Call for Government 2026, highlights that electricity demand in Wales is projected to double – potentially triple – by 2050.

READ MORE: Largest ever number of renewable projects in Wales backed in UK Goverment auction roundREAD MORE: The verdict on the promise of £14bn of rail investment in Wales over the long-term

Two planned AI growth zones – one in south Wales and the other in north Wales – alone could require as much electricity as a city the size of Cardiff. Electrified heavy industry, electric vehicles and heat pumps will all add to that demand. However, the manifesto highlights that most of Wales’ electricity still comes from imported gas, exposing households and businesses to volatile global prices.

The manifesto says that the choice facing voters and politicians is clear: “continue importing fossil fuels or build a home-grown clean energy system that powers jobs, industry and communities across Wales.”

RenewableUK Cymru’s analysis also shows that by accelerating large-scale wind, solar and tidal projects, would also deliver average salaries of £49,000 — around £10,000 above the Welsh average, generate up to £183m in community benefit funding over the next decade and protect households from price volatility by reducing reliance on imported gas

It also highlights that Wales must also modernise its grid network that connects power to homes, businesses and industry. It warns that without increased capacity, new renewable projects will stall and investment decisions will drift elsewhere.

Jessica Hooper, director of RenewableUK Cymru, said: “As parties set out their priorities for Wales, energy is our defining economic choice. Clean energy is one of the UK’s fastest-growing industries. Wales has the natural resources, the projects in the pipeline, and investors ready to go. But without a grid fit for the future, that opportunity will not be realised.

“A Cymru clean power partnership would turn potential into delivery – securing affordable, home-grown energy, billions in investment, thousands of well-paid jobs and millions in funding for communities across Wales.”

Last week Plaid Cymru leader, Rhun ap Iorwerth, said if elected the party’s intention is to require minimum community-ownership stake of between 15 and 25% for all energy projects over 10 megawatt, or equivalent means of capturing community benefits, while also increasing the number of communities who have the capacity and ability to buy in to projects at scale,

It would also establish a national energy body for Wales that would be responsible for developing large-scale projects – embedding meaningful community ownership, and supporting smaller-scale community energy initiatives.

There have been projects, like Alwen Forest windfarm that has just been consented, with a 20% community ownership stake, but that took eight years to work through. It is not clear whether the sector would be willing to invest in Wales at the scale required with such community ownership thresholds.

In terms of distribution lines ( a devolved matter), that are mainly required in rural areas to connect renewable projects to the National Grid, Plaid would prohibit the use of large steel lattice pylons lines 132 kilovolt or below, with a clear presumption in favour of under grounding, with overhead alternatives permitted only where installation is via low wooden poles or equivalent, less intrusive infrastructure.

Putting cables underground would be far more expensive option and could potentially deter invest. RenewablesUK Cymru points to research shows burying power lines can cost up to five times more than overhead lines. It add this would have significant implications for bill payers and that a “pragmatic, cost-effective approach” to grid modernisation will be essential.

The Plaid leader said: “Plaid Cymru supports renewable energy unequivocally just as we believe that the wellbeing of communities has to be at the heart of the Welsh Government’s energy strategy.

A Plaid Cymru government will require a minimum community-ownership stake of between 15 and 25% for all energy projects over 10 megawatt, or corresponding means of capturing community benefits as a key condition for consent.

“We propose a single national energy body for Wales responsible for developing large-scale projects, embedding meaningful community ownership, and supporting smaller-scale community energy initiatives – all framed by the clear remit of retaining more of the value of Welsh renewables in Wales and helping to reduce energy bills over the medium to long term.”

Plaid has dropped a previous pledge to achieved net zero carbon emissions in Wales by 2035. Mr ap Iorwerth said: “I think most people now can see that 2035 isn’t realistic. We are very close. Time rolls by, and we have to take a pragmatic look at that. I think everything points to needing to be a point in the future where we need to keep an eye on the prize.”

A senior adviser to Rachel Reeves has drawn sharp criticism from the hospitality sector after saying Britain does not “need any more restaurants”.

Alex Depledge, appointed last year as the Government’s entrepreneurship adviser, argued that ministers should prioritise high-growth industries such as technology and advanced manufacturing rather than hospitality and retail.

Speaking to Insider Media, Depledge said: “We don’t need any more restaurants. I’m not anti-hospitality, but that’s not where my efforts are.” She added that the UK should focus on scaling sectors such as clean tech and creative industries to drive long-term economic growth.

Her remarks prompted an immediate backlash from publicans and restaurateurs already grappling with higher national insurance contributions and business rate reforms.

Sacha Lord, chairman of the Nighttime Industry Association and a former adviser to Manchester mayor Andy Burnham, said the comments deepened confusion about Labour’s stance towards hospitality. “Small and medium-sized businesses are the largest employers in the private sector,” he said, adding that the sector had been “blindsided” by recent tax changes.

TV chef Michel Roux Jr also criticised the remarks on social media, while pub campaigner Andy Lennox urged Depledge to reconsider what he described as “unwise words”.

Hospitality accounts for around 7 per cent of UK employment, with roughly 2.6 million people working in the sector, according to the Office for National Statistics. The number of restaurants fell 1.3 per cent in 2025 to 89,600, as operators faced rising costs and squeezed consumer spending.

Depledge, who founded property and software businesses including Resi UK and Good Lord, defended her focus on sectors capable of generating higher productivity and wages. She suggested that while small businesses remain vital, their overall contribution to the economy has remained broadly stable over decades.

The Chancellor has introduced targeted relief for pubs, including a temporary 15 per cent business rates discount, but restaurants and hotels have continued to press for broader support.

The episode underscores growing tension between Labour’s push to champion “future-facing” industries and the concerns of traditional sectors that remain major employers across the country.

Paul Jones

Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.