Let's talk about a week where the lines between technology, national security, and corporate earnings got blurrier than ever. It started with a classic government-versus-startup standoff. The U.S. Department of War said, quite clearly, that there are no active negotiations with Anthropic AI. This matters because Anthropic, the company behind the Claude AI, is planning to go to court to fight the government's decision to label it a national security "supply chain risk." That's a big deal—it's not just a regulatory slap on the wrist; it's a designation that can freeze you out of critical contracts. And sure enough, the Pentagon has told contractors to stop working with Anthropic, which has led to companies like Lockheed Martin Corp. (LMT) pledging to phase out Claude AI tools over six months. It's a messy divorce, and everyone's watching to see how it plays out in court.
Meanwhile, in Washington, the policy wheels are turning. Representative John Moolenar (R-MI) is urging the Treasury Secretary to take a harder look at Chinese investment trying to get into key U.S. manufacturing sectors, especially autos. And the Trump administration is reportedly cooking up a new framework for exporting advanced AI chips. The twist? It might require foreign governments that want to buy chips from companies like Nvidia Corp. (NVDA) and Advanced Micro Devices (AMD) to also invest in U.S. data centers. Think of it as a "you want our tech, you help build our infrastructure" deal. On a related note, the administration also unveiled a voluntary agreement with major tech companies to try and prevent AI data centers from driving up electricity costs for consumers. Because when you're training giant models, you're not just burning cash—you're burning megawatts.
Ahead of a planned meeting between President Donald Trump and Chinese President Xi Jinping in April, there's another knot to untangle: what to do about Tencent Holdings Ltd. (TCEHY)'s stakes in major video game companies. The White House is reportedly debating whether to allow the Chinese tech giant to keep them. It's a small piece of the much larger and more complex U.S.-China tech relationship.
Earnings Season: Chips, Chargers, and Groceries
Switching gears to corporate results, it was a big week for earnings, especially in tech and semiconductors.
Marvell Technology Inc (MRVL) kicked things off with a solid fourth quarter, reporting revenue of $2.22 billion (beating estimates of $2.21 billion) and adjusted earnings of 80 cents per share (topping the 79-cent forecast). The story here is robust AI demand—chips are still the engine of this boom.
But not all tech earnings were rosy. ChargePoint Holdings Inc (CHPT), the electric vehicle charging network, posted a quarterly loss of $1.85 per share, which was much worse than the estimated loss of $1.03 per share, even though revenue of $109.32 million beat expectations. It's a reminder that the EV infrastructure space is still finding its footing.
Over in retail, Kroger Company (KR) had a mixed bag: adjusted earnings per share of $1.28 beat the $1.20 estimate, but sales of $34.725 billion missed the Street's view of $35.064 billion. People are still buying groceries, but maybe not quite as many as analysts hoped.
Bilibili Inc. (BILI), the Chinese video platform popular with Gen Z, reported fiscal fourth-quarter results that topped earnings expectations. They now have 366 million monthly active users, and more of them are paying for services. It's a sign that the platform is maturing, even if growth across different revenue streams was mixed.
The heavyweight of the week was arguably Broadcom Inc (AVGO). They reported first-quarter revenue of $19.31 billion (beating estimates of about $19.20 billion) and adjusted earnings of $2.05 per share (topping the $2.02 forecast). The key driver? AI revenue more than doubled. When a company like Broadcom says AI is fueling growth, you listen.
CrowdStrike Holdings, Inc. (CRWD) also delivered, with fourth-quarter revenue of $1.31 billion beating analyst estimates of approximately $1.30 billion. Cybersecurity remains a non-negotiable expense for businesses, and CrowdStrike is cashing in.
In the satellite internet space, AST SpaceMobile Inc (ASTS) reported fourth-quarter revenue of $54.3 million, crushing estimates of $41.11 million. They also noted securing over $1.2 billion in aggregate contracted revenue commitments from partners last year. That's serious traction for a company building a space-based cellular network.
And then there's Plug Power, Inc. (PLUG). The hydrogen fuel cell company reported a fourth-quarter loss of 63 cents per share, which was significantly wider than the analyst estimate for a loss of 10 cents per share. The stock did climb after the report, but the numbers highlight the ongoing challenges in the clean energy tech sector.
The AI Frontier: Court Battles, Revenue Milestones, and Bans
Back to AI, where the drama continued. Anthropic isn't just planning a legal challenge; its CEO, Dario Amodei, said they have "no choice" but to fight the U.S. government in court after being labeled a supply chain risk. This isn't just about one company—it's a test case for how the government regulates AI startups it deems a potential threat.
The fallout is real. We already mentioned Lockheed Martin. But it also reportedly disrupted Palantir Technologies Inc.'s (PLTR) flagship military AI platform, as the Pentagon's ban forced contractors to halt commercial ties with Anthropic. Palantir now faces a potentially costly overhaul.
On the growth side, IREN Ltd. (IREN) ramped up its AI ambitions with a major GPU order from Nvidia, even as investors worried about a multibillion-dollar equity filing and potential shareholder dilution. And Nebius Group NV (NBIS) is advancing its U.S. expansion after getting local approval for a major AI infrastructure project, reporting rapid growth in its core AI cloud business.
Then there's the revenue king. OpenAI has reportedly surpassed $25 billion in annualized revenue as of last month. Let that sink in. The company that kicked off the modern AI race with ChatGPT is now a financial behemoth.
Partnerships are also fueling the AI engine. CoreWeave, Inc. (CRWV) disclosed a strategic partnership with Perplexity AI. Affirm Holdings Inc. (AFRM) is expanding its AI-powered commerce presence through a deeper partnership with Stripe, bringing its "buy now, pay later" service to AI agent checkouts. And SoFi Technologies, Inc. (SOFI) and Templum launched a limited-time window for accredited investors to access private stakes in Colossal Biosciences, OpenAI, and Perplexity AI through something called the Cosmos Fund. It's a sign that mainstream fintech wants a piece of the AI action.
