- GRIT
- Posts
- 👉 Nvidia's Big Conference Awaits
In partnership with
Welcome to your new week.
During crazy times like these in the market, it’s best to stay well-informed. If you want full access to our Week in Review editions, monthly livestreams, portfolio access, monthly stock deep dives, and more — consider upgrading your subscription.
Let’s dive right in.
Key Earnings Announcements:
FedEx, General Mills, Lululemon, Micron, and Oklo headline this week.
Monday (3/16): Dollar Tree, Semtech
Tuesday (3/17): DocuSign, Lululemon, Oklo, Tencent Music
Wednesday (3/18): General Mills, Jabil, Macy’s, Micron, Williams-Sonoma
Thursday (3/19): Accenture, Alibaba, Darden Restaurants, FedEx, Intuitive Machines
Friday (3/20): XPeng
What We’re Watching:
Lululemon (LULU)
Lululemon (-24% YTD) reports earnings this week, with investors focused on whether the premium athleticwear brand can maintain its growth momentum amid a more cautious consumer environment. The company has consistently outperformed much of the retail sector thanks to strong brand loyalty, high margins, and continued expansion in men’s apparel and international markets.
Last quarter, Lululemon posted solid revenue growth driven by strength in North America and accelerating demand overseas, particularly in China. The company has also continued to lean into product innovation and category expansion, including footwear and new training collections, as it looks to broaden its addressable market.
I’ll be watching for commentary on same-store sales trends, international growth – especially in China – and whether higher-income consumers continue to support demand for premium activewear. Guidance around holiday demand and inventory levels will also be key as investors gauge whether Lululemon can sustain its growth premium in a more competitive retail environment.
Lululemon Athletica, Inc. (LULU) Stock Performance, 5-Year Chart, Seeking Alpha
The Architecture Behind AI-Native Revenue Automation
Most “AI finance” tools guess. Finance can’t. This white paper explains how AI-native revenue automation combines reasoning, deterministic math, and commercial context to automate billing, cash, and close—without sacrificing accuracy. Read the architecture behind AI-native revenue automation.
Micron (MU)
Micron (+49.3% YTD) reports earnings this week, with investors closely focused on whether the AI-driven memory cycle continues to accelerate. Demand for high-bandwidth memory (HBM) used in AI GPUs has become one of the biggest drivers for the company, as hyperscalers and data center operators ramp spending on next-generation AI infrastructure. Shares have rallied alongside the broader semiconductor sector as pricing for DRAM and NAND has improved following the industry downturn in 2023.
Last quarter, Micron delivered strong revenue growth as memory prices rebounded and AI-related demand strengthened. Management highlighted that HBM capacity is largely sold out for the near term, reflecting tight supply across the AI ecosystem. Investors will be paying close attention to commentary on HBM production expansion, DRAM pricing trends, and capital spending plans as the company works to keep pace with demand from large cloud providers.
I’ll be watching for updates on HBM supply commitments to AI customers, DRAM pricing momentum, and whether management signals that the memory upcycle can continue through 2026. Any indication that hyperscaler demand remains strong could reinforce the bullish outlook for the broader semiconductor and AI infrastructure trade.
Micron Technology, Inc. (MU) Stock Performance, 5-Year Chart, Seeking Alpha
Investor Events / Global Affairs:
Nvidia GTC Conference kicks off this week, Oil markets remain on edge as the conflict with Iran continues, March Madness tips off this week.
Nvidia GTC Conference
Sources: Akio Kon | Bloomberg | Getty Images
Nvidia’s upcoming GTC conference is expected to highlight a major shift in the AI infrastructure race: the growing importance of CPUs alongside GPUs. While Nvidia’s GPUs have dominated AI training and inference, the rise of “agentic AI” — systems that coordinate multiple AI agents and workflows — is creating massive demand for general-purpose computing power that CPUs provide.
Nvidia is pushing deeper into this space with its Grace CPU and the upcoming Vera generation, with large-scale deployments already underway in Meta’s data centers. The company is designing these processors specifically to work alongside its GPUs, ensuring that expensive accelerators don’t sit idle waiting for data. As AI workloads become more complex and data-heavy, CPUs are increasingly responsible for orchestrating the flow of tasks across AI systems.
The opportunity is significant. Bank of America estimates the data center CPU market could grow from about $27 billion in 2025 to $60 billion by 2030. At the same time, supply constraints are emerging across the industry, with companies like AMD and Intel warning of shortages as demand surges.
The most important takeaway is that the AI hardware stack is expanding. Nvidia is evolving from a GPU company into a full-stack infrastructure provider, competing not just in accelerators but across the entire compute architecture powering the AI economy. We will learn more this week.
Nvidia, Corp. (NVDA) Stock Performance, 5-Year Chart, Seeking Alpha
“These agentic systems are spawning off different agents working as a team. The number of tokens that are being generated has really, really gone exponential, and so we need to inference at a much higher speed.”
March Madness Begins This Week
Americans are expected to legally wager about $3.3 billion on the men’s and women’s NCAA March Madness tournaments this year, according to the American Gaming Association. That represents a 54% increase over the past three years, reflecting the rapid expansion of legalized sports betting across the U.S.
The figure doesn’t include office bracket pools or wagers placed on emerging prediction markets like Kalshi and Polymarket, meaning the total amount tied to the tournament is likely much higher. These prediction markets — where users trade contracts on game outcomes rather than betting against a sportsbook — have grown quickly since early 2025 and are now drawing regulatory scrutiny from state gambling authorities.
At the same time, traditional sportsbooks are pulling back on marketing as the industry shifts toward profitability. Betting ad spending is expected to come in below $700 million this year, down from nearly $900 million at its peak in 2021. Meanwhile, prediction market platforms have ramped up advertising and now account for roughly 43% of sports betting-related ads consumers see.
The broader takeaway: sports wagering continues to scale rapidly, but the structure of the industry is evolving as new platforms challenge traditional sportsbooks and regulators scramble to catch up.
“Traders on Kalshi swapped $2.27 billion worth of contracts tied to men’s college basketball in February, making it the leading sports category on the site. Trading volume on prediction markets isn’t directly comparable to betting volume on sportsbooks because prediction market traders can move in and out of the same position and take both sides of the same contract.”
Oil Remains in Focus
United States Oil Fund LP. (USO) Fund Performance, 5-Year Chart, Seeking Alpha
Energy markets remain on edge as the conflict involving Iran enters its third week, with the Strait of Hormuz still facing major disruptions. The narrow passage is one of the most critical arteries for global oil supply, normally carrying a significant share of the world’s seaborne crude exports. With shipping activity constrained and ongoing attacks on energy infrastructure across the region, traders are increasingly pricing in the risk of prolonged supply disruptions.
Crude briefly pushed above the $100 per barrel level before easing, but renewed production outages and uncertainty around Gulf exports have kept prices elevated. Analysts warn that if traffic through the Strait remains limited for an extended period, the global oil market could tighten further, potentially keeping crude prices higher well into the coming months. Investors will be closely watching developments in the region, as sustained energy shocks could ripple into inflation, shipping costs, and broader global growth expectations.
“The only way this crisis abates is if there is some way that we can reopen the Strait of Hormuz and give confidence to shipping companies that their tankers will not be attacked.”
Major Economic Events:
A crucial Fed meeting and a look at the producer price index.
Trump has signaled a potential delay to Beijing summit as U.S. pressures China to help reopen Strait of Hormuz. Sources: Andrew Harnik | Getty Images
Monday (3/16): Capacity Utilization, Empire State Manufacturing Survey, Industrial Production
Tuesday (3/17): Home Builder Confidence Index, Pending Home Sales
Wednesday (3/18): Home Builder Confidence Index, Pending Home Sales
Thursday (3/19): Core PPI, Core PPI YoY, Factory Orders, FOMC Rate Decision, PPI, PPI YoY, Powell Press Conference
Friday (3/20): None Scheduled
What We’re Watching:
Fed Interest Rate Decision
Minutes from the January 2026 FOMC meeting revealed increasing divergence among Federal Reserve officials over the future direction of interest rates, highlighting the balancing act between keeping inflation contained and supporting a still-resilient labor market.
While several policymakers indicated that additional rate cuts could become appropriate if inflation continues to ease, others argued that the Fed may need to hold policy steady for longer to ensure price pressures remain under control. A few participants even raised the possibility that rate hikes could return if inflation proves more persistent than expected.
At the January meeting, the Fed left the federal funds rate unchanged at 3.5%–3.75%, following three rate cuts in 2025. Officials broadly agreed that downside risks to the labor market have moderated in recent months, while concerns around sticky inflation remain a key uncertainty.
Economists expect the following this week:
Fed Funds Rate: 3.50%–3.75% vs. 3.50%–3.75% prior
Market Pricing for Next Move: Mixed between cuts and extended pause
“The debate is shifting from how quickly to cut toward whether policy should stay restrictive for longer.”
Producer Price Index
U.S. producer prices rose 0.5% MoM in January, exceeding expectations for a 0.3% increase and following a revised 0.4% gain in December. The upside surprise was driven largely by services, where prices climbed 0.8%, the strongest increase since July, led by a sharp jump in margins for professional and commercial equipment wholesalers.
Goods prices, by contrast, fell 0.3%, the largest monthly decline since March 2025, primarily due to a 5.5% drop in gasoline prices. Additional declines were seen in eggs, electric power, gas fuels, fresh fruit, and ethanol, partially offsetting broader service-sector inflation.
Despite the drop in goods prices, underlying inflation pressures strengthened. Core PPI surged 0.8% MoM, the biggest increase in six months and well above expectations of 0.3%. On a yearly basis, headline producer inflation rose 2.9%, while core producer inflation accelerated to 3.6%, signaling that pipeline inflation remains elevated.
Economists expect the following this week:
Headline PPI (MoM): +0.5% vs. +0.4% prior
Core PPI (MoM): +0.8% vs. +0.3% expected
Core PPI (YoY): 3.6% vs. 3.0% expected
“Services inflation continues to do the heavy lifting in producer prices, underscoring how sticky underlying cost pressures remain.”
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
This content is sponsored by NEOS Investments. The creator is compensated by NEOS to discuss NEOS ETFs. This content is for informational purposes only, and is not personalized investment, tax, or legal advice, and does not constitute an offer to buy or sell any security. Investing involves risk, including possible loss of principal. Before investing, carefully review the NEOS ETFs prospectus at neosfunds.com.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
Cover Image Source: Akio Kon | Bloomberg | Getty Images
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at [email protected]