Palantir hits 85% revenue growth, its fastest pace since going public

Palantir reported $1.63B in Q1 revenue driven by surging U.S. government and commercial demand that validates the AI-native software thesis at scale. Pinterest added to the positive tone, guiding Q2 revenue above Wall Street's consensus and signaling the digital ad market is holding up better than feared. Vertex and Paramount Skydance also beat, while Duolingo is the lone outlier with a clean earnings beat overshadowed by soft forward guidance as the company deliberately defers monetization in favor of user engagement.

Lattice Semiconductor announced a $1.65B acquisition of AMI

Lattice Semiconductor announced the acquisition of AMI, an AI cloud and platform management firm, in a deal that expands its addressable market but will test its balance sheet and integration track record. ON Semiconductor took a different path, posting a Q1 beat with narrowing losses and strong AI data-center chip demand, yet shares slipped 0.93%, suggesting the market may already have AI chip optimism priced in. Together, the two names show the semiconductor sector navigating the same AI tailwind through very different strategies, and the market is grading them differently for it.

Chevron CEO warns of physical oil shortages if Hormuz closes

Chevron chief Mike Wirth flagged that a closure of the Strait of Hormuz, which handles 20% of global crude supply, would trigger real physical shortages. This pointed warning from a sitting CEO elevates geopolitical risk as a near-term market factor. A disruption of that scale would benefit upstream producers like Chevron while introducing broader economic uncertainty. Meanwhile, Eni restarted lifting Venezuelan crude in April as payment-in-kind for gas it produces there, a pragmatic move to recover long-stranded receivables from a sanctioned market.