TradingKey

TradingKey — Kyung Kye-hyun, the former head of Samsung Electronics' semiconductor division, warned on Monday that global memory chip prices could begin to decline as early as the second half of 2027. Risks stem not only from aggressive capacity expansion by Chinese manufacturers but also from potential demand contraction if tech giants like Amazon and Microsoft see declining returns on investment (ROI) for their AI-related capital expenditures.

TradingKey - In a recent interview with Bloomberg, the CEO of Delta Air Lines (DAL) stated that the company chose Amazon’s (AMZN) LEO satellite service over SpaceX’s Starlink for its in-flight Wi-Fi. The CEO noted that Amazon offers more than just satellite technology, providing lower costs and greater technical capabilities. He specifically highlighted that Amazon possesses retail capabilities, Prime membership, and a video entertainment ecosystem, all of which are advantages Starlink lacks.

TradingKey - Data released by the Japanese government on Tuesday showed that nominal GDP for fiscal year 2025 grew by 4.2% year-on-year, marking the fifth consecutive year of positive growth as total nominal GDP continued to hit record highs. In the first quarter of 2026, the annualized GDP growth rate reached 2.1%, exceeding the 1.7% median forecast by analysts surveyed by Reuters and marking a significant acceleration from the 1.3% growth seen in the previous quarter. Takayuki Toji, senior economist at Japan Post Insurance, stated that the government may become more receptive to further interest rate hikes, potentially leaving room for the Bank of Japan to raise rates as early as June or July, prior to the next GDP data release.

TradingKey - During the Asian trading session on May 19, Standard Chartered PLC (02888.HK) rose more than 4% intraday to HKD 201.80, bringing its year-to-date cumulative gain to over 5%.

A former OpenAI researcher is aggressively shorting semiconductor stocks such as NVIDIA and Broadcom, asserting that the second half of the AI cycle will shift its focus from chips to power.

Tradingkey - Amid heightened market concerns that escalating conflict in Iran could trigger crude oil supply disruptions, U.S. President Trump suddenly announced on May 18 (ET) the postponement of a military strike against Iran originally scheduled for Tuesday, May 19. Trump stated on social media that, following a joint request from the leaders of Qatar, Saudi Arabia, and the UAE, he has ordered the U.S. military not to proceed with the planned strike on the 19th. He noted that the U.S. and Iran are currently engaged in serious negotiations, and that the aforementioned Middle Eastern leaders believe the two sides will ultimately reach an agreement centered on the core provision that "Iran must not possess nuclear weapons."

TradingKey — Latest reports indicate that SpaceX has announced a 1-for-5 stock split ahead of its IPO. The company adjusted the fair market value per share from $526.59 to $105.32. The split is expected to be processed during the week of May 18 and completed by May 22.

TradingKey - On May 18 local time, a nine-person jury in a federal court in Oakland, California, unanimously ruled to dismiss Elon Musk’s lawsuit against OpenAI and Sam Altman after less than two hours of deliberation. The case was dismissed because the statute of limitations had expired, precluding a substantive trial on the core dispute of whether OpenAI deviated from its original non-profit mission.

TradingKey — According to people familiar with the matter, SpaceX plans to list on Nasdaq on June 12, 2026, under the ticker symbol SPCX. The company aims to raise $75 billion at a valuation of approximately $1.75 trillion to $2 trillion, which would mark the largest initial public offering (IPO) in history.

TradingKey - Nomura Securities has raised its price targets for Samsung Electronics to KRW 590,000 and SK Hynix to KRW 4,000,000, citing exponential growth in AI memory demand. As of 12:00 Seoul time on May 19, Samsung Electronics’ share price stood at KRW 272,000, while SK Hynix was trading at KRW 1,773,500.

TradingKey - Amid AI-driven demand for storage chips, Seagate Technology (STX) shares faced a market sell-off following management's cautious stance on the pace of capacity expansion.

Trump postpones strike on Iran; Bitcoin rebounds to $77,000, with market focus this week on Warsh’s appointment.

Tradingkey - According to a White House official, incoming Federal Reserve Chair Kevin Warsh will be formally sworn in at the White House this Friday, succeeding Jerome Powell as the 17th Chair of the Federal Reserve. President Trump will make a rare personal appearance to preside over the ceremony, breaking a decades-long tradition of internal swearing-in ceremonies at the Federal Reserve. Historical data indicates that the last Chair to be sworn in at the White House was Alan Greenspan in 1987, and the last President to personally attend such a ceremony was George W. Bush in 2006 for Ben Bernanke’s inauguration. Contrasting with 2018, when Trump did not attend Powell’s internal ceremony, this high-profile White House event—alongside Warsh’s status as the "wealthiest Fed Chair in history"—signals a strong personal endorsement from the White House for the new Fed leadership. This rare

TradingKey - During the week of May 18 ET, SpaceX will launch a 5-for-1 stock split, clearing high-price barriers for the world’s largest-ever IPO. Boosted by the news, the U.S. commercial space sector opened higher across the board on Monday.

TradingKey - The Nikkei 225 Index edged up 0.6% at the open, with intraday gains steadily expanding to 1%. In contrast, South Korea's KOSPI Index exhibited a weak consolidation pattern, falling 1.2% early in the session before intensified selling pressure pushed the decline to 2%.

U.S. tech stocks fell on AI bubble fears and semiconductor pressure, while the Dow rose. Geopolitically, Trump postponed an Iran military strike at the request of Gulf allies, easing crude oil prices. Meanwhile, Nvidia began mass shipping its agent-specific Vera CPUs to top AI laboratories.

TradingKey - OpenAI plans to launch its IPO in the fourth quarter of 2026, with market valuation expectations near $8,520. Previously, OpenAI's valuation once crossed the trillion-dollar threshold. However, due to order uncertainty, internal governance controversies, Elon Musk's lawsuit, and regulatory investigations, its valuation has seen a significant drawdown following a capital market repricing. These events are casting substantial uncertainty over the upcoming IPO.

TradingKey - Micron Technology has become one of the biggest winners of AI in the semiconductor industry. Previously viewed mostly as a cyclical manufacturer of memory chips, Wall Street is now starting to see Micron as an important AI infrastructure company.

TradingKey - Elon Musk's SpaceX plans to officially list on June 12, which would mark the largest IPO in global market history. Reuters reports that the company intends to release its prospectus as early as Wednesday. Prior to the listing, the third-generation Starship (Starship V3)—the largest and most powerful launch vehicle to date—is scheduled for its maiden test flight this Tuesday (May 19) ET. This test may be critical for the upcoming IPO.

TradingKey - Nvidia CEO at Trump-Xi Beijing summit, $40B AI investments, IREN gigawatt deal. Q1 FY2027 May 20: $78–79B revenue expected, $300–$320 analyst targets. NVDA at $225, Fib 0.236 support.