Global Highlights for This Week: NVIDIA Expands Chip Empire; Broadcom and HPE Post Earnings

As the most dominant theme in global capital markets, the mid-year showcase for the AI supply chain kicks off this week.

 

 

According to the official schedule, the Taipei International Computer Show (COMPUTEX 2026) runs from June 2 to June 5. Leading the industry pack, NVIDIA CEO Jensen Huang is scheduled to deliver a keynote address on Monday.

 

The primary focus of Huang's keynote is the next-generation Rubin architecture, poised to succeed Blackwell.

 

Market demand is already shifting from the GB200 to the GB300, with Vera Rubin racks slated for mass production and shipping in the second half of the year.

 

Given the incremental improvements in compute power and power efficiency, investors are closely watching whether Huang will address thermal management (liquid cooling), GPU interconnect technologies (CPO), and the supply outlook for nearly 2 million components per rack—details capable of swinging billions in market value with a single remark.

 

In contrast to last year, Huang is no longer just the primary rainmaker for the AI supply chain; as his chip empire continues its expansion, he now faces the operational challenge of orchestrating a massive, complex ecosystem.

 

Recent estimates from Morgan Stanley indicate that comparing the bill of materials (BOM) between the GB300 and the Vera Rubin "VR200" racks shows a 435% surge in memory costs alone, while component costs for PCBs and MLCCs have risen by 233% and 182%, respectively.

 

Morgan Stanley expects that, driven by soaring memory prices, the cost of memory as a percentage of the total VR200 rack BOM will jump from 9% on the GB300 to 26%.

 

 

Consequently, Huang arrived in Taipei early on May 23, spending the past week in intensive meetings with supply chain executives.

 

According to reports, he recently met with TSMC founder Morris Chang, current CEO C.C. Wei, and Barry Lam, chairman of major AI server ODM Quanta, hosting NVIDIA’s fifth annual "Trillion-Dollar Banquet" for its supply chain partners.

 

Beyond AI servers, NVIDIA has further expansion plans lined up for this week. Official accounts from NVIDIA, Microsoft, and Arm simultaneously posted, "Unlocking a new era of PC together."

 

Leaked weekend reports indicate NVIDIA will launch a new PC chip designed for Windows computers this week, with manufacturers including Microsoft and Dell set to debut hardware powered by the new silicon immediately.

 

Microsoft is also expected to introduce software at its Build developer conference this week, allowing users to more easily execute AI agent tasks locally on their PCs. The chip is highly likely to be the long-rumored N1/N1X—previously delayed due to surging memory costs—which pairs NVIDIA’s low-power GPU with a MediaTek Arm-based CPU.

 

Alongside Huang, several other semiconductor executives are scheduled to speak at COMPUTEX keynotes this week.

 

According to the event schedule, Qualcomm President and CEO Cristiano Amon will deliver a keynote on Monday afternoon. Keynotes from Marvell Chairman and CEO Matt Murphy, Intel CEO Pat Gelsinger, and NXP Semiconductors President and CEO Kurt Sievers will follow later in the week.

 

 

Among them, Intel—which has recently gained momentum in capital markets on the back of its 18A node—may provide updates on its Forest Xeon 6+ data center chips based on the 18A process.

 

This chip integrates RibbonFET, PowerVia, Foveros Direct 3D, and EMIB 2.5D technologies, representing Intel’s core technological roadmap across transistor architecture, backside power delivery, 3D stacking packaging, and advanced heterogeneous integration.

 

Furthermore, Intel's roadmap includes plans to release Nova Lake this year, making any potential updates this week well within expectations.

 

As the first week of June, this week will also bring a substantial volume of macroeconomic data. The highlight will be Friday’s release of the US non-farm payrolls report for May. Following unexpectedly robust data in March and April, a resilient May print would heighten investor concern that the Federal Reserve's next policy move could lean toward a rate hike.

 

 

As record foreign exchange interventions by Japan struggle to support the yen, Bank of Japan Governor Kazuo Ueda is scheduled to speak this Wednesday.

 

Any hawkish rhetoric expressing concern over inflationary risks could further solidify expectations for a June rate hike. South Korea is also set to release its May trade and inflation data during the first two days of this week, illustrating the impact of skyrocketing memory and oil prices on the economy.

 

On the corporate earnings front, Broadcom—which designs custom ASICs for Alphabet, Anthropic, and OpenAI—will report after the market close on Wednesday.

 

With tech giants aggressively pursuing in-house silicon strategies, the market broadly expects Broadcom’s results to provide a positive catalyst for the AI secular trend. AI server manufacturer Hewlett Packard Enterprise (HPE) and commercial satellite operator Planet Labs are also scheduled to report earnings this week.

 

The IPO pricing for quantum computing star Quantinuum is expected after the close on Wednesday, ahead of its official trading debut on US exchanges on Thursday.

 

Finally, Federal Reserve Governor Jerome Powell will attend the Profile in Courage Award ceremony on Monday morning to deliver acceptance remarks.

 

Powell is receiving the award for defending the Federal Reserve's independence under White House pressure, marking his first public appearance since Kevin Warsh assumed office as Federal Reserve Chairman.

Key Economic and Financial Events This Week

Monday (June 1): China May Caixin Manufacturing PMI, South Korea May Trade Balance, Eurozone May Final Manufacturing PMI, US May ISM Manufacturing PMI, Fed Governor Jerome Powell speaks at award ceremony.

 

Tuesday (June 2): Eurozone May CPI MoM, South Korea May CPI, US April JOLTs Job Openings.

 

Wednesday (June 3): China May Caixin Services PMI, Eurozone May Final Services PMI, Eurozone April PPI, US May ADP Employment Change, US May S&P Global Final Services PMI, BoJ Governor Kazuo Ueda delivers speech.

 

Thursday (June 4): Eurozone April Retail Sales MoM, US May Challenger Job Cuts, US Weekly Initial Jobless Claims (week ending May 30), Federal Reserve releases Beige Book, ECB President Christine Lagarde delivers speech.

 

Friday (June 5): Eurozone Q1 GDP YoY (Revised), US May Non-Farm Payrolls Report.