Cerebras Skyrockets in IPO Debut, Nvidia Gets U.S. Green Light to Sell H200 in China

May 14, 2026

AI Summary

5 min read

US markets rallied Wednesday, with the S&P 500 up 0.6% and Nasdaq up 1.2% to record highs, driven almost entirely by chip stocks and AI despite two-thirds of S&P stocks declining. Nvidia reached a historic $5.5 trillion market cap after six straight days of gains, up 20% year-to-date—impressive for its size but trailing peers like AMD (up over 100%), Intel (up 250%), and Sandisk (up over 500%). The episode covers AI chip developments, a key Fed appointment, and earnings from networking and healthcare tech firms.

Fed Chair Confirmation

Kevin Warsh was confirmed as Fed chair by a narrow 54-45 Senate vote, the closest ever for the role; he assumes the position Friday. He inherits hot inflation from rising energy prices, potentially delaying rate cuts despite pressure from President Trump, who criticized Jerome Powell on the issue. The next Fed meeting is June 16th.

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What you'll learn

1 (00:40) **Market Rally Overview** - S&P up 0.6%, Nasdaq up 1.2% to records, driven by chip stocks and AI despite most S&P stocks down
2 (01:04) **Nvidia Hits Record Highs** - First company to reach $5.5T market cap, up 20% YTD for six straight days
3 (01:35) **Fed Chair Confirmation** - Kevin Warsh confirmed 54-45 by Senate, takes over Friday amid hot inflation
4 (02:20) **Nvidia H200 Approved for China Sales** - US allows 10 firms like Alibaba, Tencent up to 75K chips each despite prior restrictions
5 (04:09) **Cerebras IPO Debut** - Prices at $185/share (above target), raises $5.5B, valued at $40B; ticker CBRS
6 (06:04) **Cisco Earnings Beat on AI Networking** - Q1 revenue +12% to $15.8B, EPS $1.6 vs. $1.4 expected; stock +15%
7 (07:42) **Doximity Guidance Miss** - Q1 revenue +5% to $145M beats but FY outlook ~$700M well below expectations; stock -25%

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Show Notes

Market update for Thursday May 14, 2026

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In today’s episode, Zaid covers:

Kevin Warsh’s confirmation as Fed Chair and why hot inflation could complicate rate cuts
Nvidia’s push to reopen chip sales in China as H200 approvals remain stuck in geopolitical limbo
Cerebras’ massive AI chip IPO and what it says about investor appetite for the AI trade
Cisco soaring on AI data center demand and stronger networking revenue
Doximity plunging after weak guidance disappoints Wall Street
Micron overtaking Nvidia as the most heavily traded stock in the market