Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see US stock futures made gains as optimism grew around Congress passing a debt accord to prevent a default, with the White House and Republican congressional leaders intensifying their lobbying efforts. Nvidia Corp. saw a 3.1% increase in premarket trading following CEO Jensen Huang’s unveiling of various AI-related products and services (more on that below). The pressure is on as proponents of the agreement have one week to secure congressional approval before a potential default on June 5 (X Day).

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Here’s a look at the top-moving stocks this morning.

NVIDIA Corporation (Nasdaq: NVDA)

Nividia is up 3.39% premarket after the renowned chipmaker unveiled several new AI-centric products, capitalizing on the generative-AI trend. Notable releases include the Nvidia DGX GH200, a high-powered supercomputer, and Nvidia ACE, a platform leveraging generative AI for video game development. Additionally, advertising giant WPP plans to utilize Nvidia’s platforms and generative AI to construct a content engine for ad production. These announcements follow Nvidia’s impressive surge in share prices, driven by strong second-quarter revenue projections, particularly in the data center business. Nvidia’s stock has soared over 165% year-to-date, outperforming both the S&P 500 and rival chipmaker AMD, while Intel has experienced more modest growth.

With semiconductor companies making new headway in the US, it’s vital to learn more about why this is happening. The truth is China has a plan – a sinsister one. And if the US doesn’t act now – it could drastically reduce the quality of life for Americans.

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Iovance Therapeutics (Nasdaq: IOVA)

Iovance Therapeutics is up 15.23% in premarket trading following the announcement that the U.S. FDA had accepted its biologics license application (BLA) for lifileucel, the company’s lead pipeline candidate for melanoma treatment. The BLA seeks accelerated approval for lifileucel in advanced unresectable or metastatic melanoma patients who have progressed after prior anti-PD-1/L1 therapy. The FDA has granted the BLA priority review and no advisory committee meeting is currently planned. If approved, lifileucel will become the first FDA-approved personalized, one-time cell therapy for melanoma patients, addressing the limited treatment options available after standard-of-care medications. Iovance’s stock has shown a year-to-date increase of 18.2%, outperforming the industry’s 9.2% decline.

Palantir Technologies (NYSE: PLTR)

Palantir Technologies is up 4.84% in premarket trading after the artificial intelligence platform announced its latest product. Palantir’s artificial intelligence platform (AIP), powered by its large language model (LLM), enables the company to offer an interactive chatbot to its clients. This technology falls under the same category as OpenAI’s ChatGPT, and the development of Palantir’s in-house model has generated remarkable demand. By combining the LLM with Palantir’s data processing capabilities, users gain the ability to determine optimal actions for specific outcomes. For instance, in a hospital scenario, a hospital manager could use the AIP to inquire about the availability of a brain surgeon at a particular hospital for a specific incoming patient. Palantir is witnessing an unprecedented demand for its AIP and is strategically organizing efforts to fully leverage this interest, as expressed by Ryan Taylor, the chief business affairs and legal officer, during the first-quarter conference call.

Artificial intelligence isn’t the only area of the market that’s creating buzz. Our friend Andy Snyder is high on another tech stock. It’s not blockchain, crypto or AI. In fact, Andy believes it’s much bigger, and its stock is predicted to be worth $13 trillion by 2030.

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C3.ai, Inc. (NYSE: AI)

C3.ai, Inc. is up 6.56% premarket, driven by notable trading volume and outperforming the stock’s 61.5% gain over the past four weeks. The optimistic sentiment surrounding the stock is attributed to NVIDIA’s impressive guidance for the second quarter of fiscal 2024, indicating a robust demand for AI chips. C3.ai is expected to report a quarterly loss of $0.17 per share, representing a year-over-year increase of 19.1%, with revenues expected to remain unchanged at $72.32 million compared to the same period last year.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team