Dell surged 15.8% Wednesday as its AI-server refresh story kept building. Broadcom fell despite revenue growing 86% and AI chip sales more than tripling — its guidance simply wasn't enough. A weak ADP jobs report muddied the Fed's rate path. Let's dig in 👇

💬 Broadcom beat on revenue, beat on EPS, and still got sold off on guidance — is the AI bar now impossible to clear?

📊 Quick Recap — What Moved & Why

🇺🇸 US — Dell Soars 16% as Broadcom Falls Despite 86% Growth

🔑 Key Event:$Dell Tech(DELL.US) closed +15.81% at $492.20 Wednesday, extending Tuesday's earnings pop. $Broadcom(AVGO.US)fell despite AI chip revenue more than tripling YoY to $16.7B — its Q4 guide of $34.8B missed the $35.0B consensus. US indices rose ($S&P 500(.SPX.US)+0.46% to 7,666.60, $NASDAQ Composite Index(.IXIC.US)+0.45% to 26,217.83, $Dow Jones Industrial Average(.DJI.US)+0.56% to 53,061.95).

@Arati : A rising share of custom AI accelerators carries lower profit margins than its higher-margin software business. If Broadcom fails to raise forward guidance, profit-taking ensues despite strong overall revenue, which is more likely than not.

@Shyon : Circular financing doesn't automatically mean an AI bubble, but it does make me more selective — I'd rather see AI companies convert massive compute spending into sustainable revenue before assuming these valuations are fully justified.

👀 Other to Watch

• ADP jobs report → private payrolls rose just 38,000 in August (vs ~47K est.), the slowest since January, adding weight to Friday's non-farm payrolls print.
• $NVIDIA(NVDA.US) → rose +3.21% to $224.41, a fresh high since late August, on reports it's in advanced talks to buy AI startup Hugging Face for ~$14B.
• $Tesla(TSLA.US) → closed roughly flat (+0.26%) at $357.01, down 21% YTD, ahead of today's high-stakes Cybercab robotaxi launch in Austin.
• $Credo Tech(CRDO.US) → crashed -20.03% to $165.22 despite +115% YoY revenue; the overhang was customer concentration — its top 3 clients make up 74% of revenue.

🇸🇬 Singapore — STI Rebounds to 5,744

🔑 Key Event:$FTSE Straits Times Index(STI.SG) rose 0.59% to 5,744.11 Wednesday, recovering from Tuesday's dip, and was up a further 0.5% near 5,774 Thursday morning. $DBS(D05.SG), $OCBC Bank(O39.SG), and $UOB(U11.SG)tracked the market higher, holding their strong year-to-date gains.

🇭🇰 HK/China — Shein Falls for a Third Straight Session

🔑 Key Event:$Hang Seng Index(00HSI.HK) was roughly flat Wednesday (-0.07% to 25,311), then rose +0.68% to about 25,482 Thursday morning. $SHEIN-W(00625.HK)fell to HK$46.00 Wednesday and further to HK$43.70 Thursday morning — a third straight losing session, now down about 10% from its HK$48.56 IPO price.

👀 Other to Watch

• $MINIMAX-W(00100.HK) → jumped +4.09% to HK$356.60 Thursday morning, after mainland investors bought HK$10.6B of its shares via Stock Connect in August — more than Alibaba or Tencent — since its Aug 6 southbound inclusion.

🌍 Other

• 🇻🇪 $Chevron(CVX.US) → committed $7B over 5 years to more than double its Venezuela output to 600,000 bpd, under Trump's late-August US-Venezuela oil deal.
• 🌍 Oil and gold steadied — WTI near $91, gold around $4,330-4,374/oz — after Tuesday's Iran-driven spike.

📅 Key Events Tonight / This Week

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🚫 No duplicates · ⏰ Deadline: Sept 3, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏