--- title: "SG Morning Brief｜Oil Surges, Nvidia Lands $500B AI Deal as SGX Reopens" type: "News" locale: "en" url: "https://longbridge.com/en/news/295464146.md" description: "S&P 500 slipped 0.06% to 7,753.11 as surging oil and pre-CPI caution weighed. STI last closed at 5,698.43 before the National Day break. Nvidia unveiled a $500B AI infrastructure financing pact with six Wall Street firms. WTI jumped 5.1% to $82.13/bbl." datetime: "2026-08-11T00:14:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295464146.md) - [en](https://longbridge.com/en/news/295464146.md) - [zh-HK](https://longbridge.com/zh-HK/news/295464146.md) --- # SG Morning Brief｜Oil Surges, Nvidia Lands $500B AI Deal as SGX Reopens ### What Happened While Markets Were Closed SGX was closed Monday for the observed National Day public holiday. Over the weekend and through Monday's US session, geopolitical tensions around the Strait of Hormuz intensified as Iran laid out a list of demands — including US withdrawal of forces, lifting of sanctions, and war reparations — before reopening the key shipping lane. Crude oil spiked in response, with WTI settling 5.1% higher at $82.13 a barrel. Meanwhile, Nvidia announced a landmark partnership with six Wall Street asset managers — Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR — to mobilise over $500 billion in third-party capital for AI infrastructure build-out. ### US Last Close S&P 500 closed -0.06% at 7,753.11, Nasdaq -0.32% at 26,605.36, Dow -0.11% at 53,975.98 — all three indexes edged back from last week's record highs as surging oil prices and pre-CPI caution kept buyers sidelined. The 10-year Treasury yield rose 3.6 bps to approximately 4.69%. **Intel (INTC) -4.1%** — The chipmaker announced a $15 billion underwritten public offering of common stock, its first equity raise since 1971, to fund its costly foundry expansion. The stock had surged 175% year-to-date through Friday's close, giving management a rare window to issue equity from a position of strength. The move underscores the capital intensity of Intel's AI-era turnaround plan and the dilution risk shareholders now face. **Apple (AAPL) -1.5%** — Jefferies downgraded the stock to Underperform from Hold and cut its price target to $263.66 from $285.56, citing supply-chain checks that confirmed the cancellation of the all-glass iPhone planned for September 2027 due to low production yields. Analyst Edison Lee called it "a major setback" to Apple's efforts to push higher-priced devices amid soaring memory costs. The stock also traded ex-dividend for its $0.27 quarterly payout. **Nvidia (NVDA) -2.9%** — Shares slid despite the company's blockbuster deal with six Wall Street firms to assemble a $500 billion AI infrastructure financing vehicle. The sell-off likely reflected profit-taking after the stock's recent run and broader chip-sector weakness, with some investors rotating out of semis ahead of Wednesday's CPI print. The partnership aims to treat compute infrastructure much like commercial real estate — an asset class that can be financed and borrowed against. **After hours, Rocket Lab (RKLB) -1.6%** — The space company reported Q2 revenue of $234 million, up 62% YoY and beating the $231 million consensus, with backlog swelling to a record $2.36 billion. EPS came in at -$0.08, in line with estimates. However, shares dipped after hours as the company guided Q3 GAAP gross margins to 29%-31%, down from Q1's 43% level, and flagged that Neutron's first-flight window is narrowing. Q3 revenue guidance of $250-$265 million was well above the $236 million consensus. ### SGX Preview STI last traded Friday at 5,698.43, up 1.05%, lifted by the three banks' record-breaking run. DBS closed at S$76.33 (+1.66%), OCBC at S$30.30 (+3.31%), and UOB at S$43.30 (-0.64%). All three banks have posted strong H1 results driven by surging wealth management fees — DBS saw wealth fees jump 42%, OCBC 44%, and UOB over 29% — helping offset softer net interest income. SIA closed at S$7.60 ahead of its ex-dividend date today. CapitaLand Integrated Commercial Trust (CICT) reports earnings on Wednesday, August 12. The overnight US tape — mildly negative with oil prices surging — points to a cautious open for the STI as traders reassess the Strait of Hormuz risk premium and position ahead of Wednesday's US CPI. ### Asia Pre-Market S&P 500 futures are down 0.09% and Nasdaq 100 futures down 0.28% as of writing, pointing to a subdued US open later today. WTI crude sits at $82.13/bbl after Monday's 5.1% surge; gold holds near $4,400/oz, supported by geopolitical uncertainty; Bitcoin trades around $65,200. The combination of elevated oil, steady gold, and soft equity futures suggests a defensive tone for the Asia session. Singapore's energy and offshore marine names may see a tailwind from the oil spike, while rate-sensitive REITs could face headwinds from the higher Treasury yield environment. ### Rest of the Week US Earnings & Economic Calendar **Earnings (Tuesday, Aug 11):** On Holding (ONON) — pre-mkt, consensus EPS $0.41 on revenue $1.11B Lumentum (LITE) — post-mkt, consensus EPS $2.97 on revenue $987.9M Super Micro Computer (SMCI) — post-mkt, consensus EPS $0.88 on revenue $11.45B CoreWeave (CRWV) — post-mkt, consensus revenue $2.56B, loss per share $1.22 **Earnings (Wednesday, Aug 12):** Cisco Systems (CSCO) — post-mkt, consensus EPS $1.17 on revenue $16.83B **Earnings (Thursday, Aug 13):** Applied Materials (AMAT) — post-mkt **Economic data:** Wednesday Aug 12 — US CPI (July) at 08:30 ET / 20:30 SGT, consensus 3.4% YoY, 0.1% MoM; Core CPI 2.5% YoY, 0.2% MoM Thursday Aug 13 — US PPI (July) at 08:30 ET / 20:30 SGT, consensus 0.1% MoM; Initial Claims Friday Aug 14 — US Retail Sales, Michigan Consumer Sentiment **Spotlight: Super Micro Computer (SMCI)** — Consensus EPS $0.88 on revenue $11.45 billion, representing roughly 91% YoY revenue growth. Key watch items: (1) gross margin trajectory after Q3's compression, (2) any update on the delayed 10-K filing and governance overhang, (3) FY2027 revenue guidance given the AI server demand environment. Options imply a roughly 13% post-earnings move. The CPI print the following day — Wednesday at 20:30 SGT — will be the week's dominant macro catalyst, with a soft reading likely to reinforce the Fed's hold stance and support risk assets. ### One More Thing Singapore investors return from the National Day break to a market reshaped by three forces: oil at $82, a $500 billion AI financing deal, and CPI anxiety. The STI enters the week near record territory, driven almost entirely by the three banks. The question for the next few sessions is whether the oil spike and pre-CPI caution stall that momentum, or whether the wealth-management earnings story — now the dominant narrative across DBS, OCBC, and UOB — proves resilient enough to extend the rally. With SMCI, Cisco, and CPI all landing before Friday, the back half of the week carries more event risk than the front. _This briefing is for informational purposes only and does not constitute investment advice._ ## Related News & Research - [10:30 ETNautilus Data Technologies Named NVIDIA AI Factory Infrastructure Partner](https://longbridge.com/en/news/294982693.md) - [Blackstone (BX) Deepens Ties With NVIDIA On AI Infrastructure Financing Platforms – What Truly Changes?](https://longbridge.com/en/news/295590567.md) - [AMD Acquires Chip Startup Taalas; Can It Shake Nvidia’s AI Dominance?](https://longbridge.com/en/news/295177528.md) - [Nokia, Indosat, Ooredoo, Nvidia launch Zankore AI infrastructure platform in Southeast Asia](https://longbridge.com/en/news/295099006.md) - [Financial giants jump amid Nvidia AI funding deal; 1 eyes breakout](https://longbridge.com/en/news/295575793.md)