AI Drives Nasdaq Gains; Tesla, Baidu, TSMC Move Up

Introduction

Stocks opened the first trading day of 2026 with an upbeat tone driven by renewed enthusiasm for artificial intelligence and several concrete corporate developments. Futures for the Dow, S&P 500 and Nasdaq-100 showed gains ahead of the session, while specific company announcements — from Tesla’s delivery cadence to a Baidu spin-off and a regulatory setback for Corcept — set clear near-term trading themes.

Broad index moves and tech leadership

Futures and index returns

Premarket activity showed modest gains: Dow futures roughly +0.4%, S&P 500 futures about +0.6%, and Nasdaq-100 futures around +1.1%. Those moves followed a year in which the major indexes finished strongly — the Dow gained about 13% in 2025, the S&P 500 roughly 16% and the Nasdaq about 20% — with AI-related optimism a major contributor.

Why tech is leading

Investor focus on generative AI and semiconductor supply for AI workloads continues to funnel capital toward technology-related names. Demand signals from chipmakers and cloud providers, together with visible commercialization steps by large AI platform companies, explain why the Nasdaq is outpacing the other indices in early trading.

Company-specific catalysts

Tesla: delivery results in focus

Tesla shares ticked higher ahead of its Q4 and full-year 2025 delivery report. Street estimates put Q4 deliveries near 422,850 vehicles, reflecting a slowdown after earlier quarters and the impact of an expiring EV tax credit. Investors are watching whether Tesla can sustain growth amid shifting incentives and production cadence.

Baidu and Kunlunxin IPO buzz

Baidu surged after confirming that its AI chip unit, Kunlunxin, filed confidentially for an initial public offering in Hong Kong. A separate listing for the chip division would allow Baidu to monetize hardware developments and could attract investor interest in Asia-focused AI infrastructure plays.

TSMC and Nvidia: chip demand tightens

Taiwan Semiconductor saw upside after reports that Nvidia requested higher production of its H200 AI chips to meet demand in China, supported by a renewed U.S. export license. Any sustained increase in H200 orders would be positive for foundries like TSMC and for suppliers across the chip supply chain.

Nike insider buy signals confidence

Nike rose after CEO Elliott Hill disclosed a personal purchase of about $1 million in company shares, a classic signal that leadership views the stock as attractively valued. Insider buying often resonates with investors because it aligns executive and shareholder incentives.

Corcept: regulatory setback

Corcept shares plunged more than 50% after the FDA declined to approve relacorilant for hypercortisolism. The decision represents a major clinical and commercial blow to the company and serves as a reminder of the binary regulatory risk inherent in small-cap biotech investing.

Furniture retailers and tariff relief

Retailers dependent on imports, including several furniture chains, rallied after the White House delayed tariff increases on furniture imports until 2027. That postponement eases near-term cost pressure for import-heavy retailers and supports earnings visibility for the current fiscal year.

Near-term catalysts to watch

Economic data and policy headlines

Traders will parse the upcoming monthly jobs report for signs of inflationary pressure or labor softness that could influence Fed policy expectations. In addition, decisions around trade policy and the nomination for Federal Reserve leadership remain potential inflection points for sentiment.

Earnings and chip supply developments

Quarterly earnings and further announcements from chipmakers and cloud providers will determine whether the early-year AI enthusiasm broadens beyond a handful of large names. Watch for production updates from foundries and order guidance from major AI customers.

Conclusion

The start of 2026 emphasized concrete, event-driven moves rather than broad themes alone. AI-related demand and corporate actions — Tesla’s delivery figures, Baidu’s chip IPO filing, Nvidia-driven production requests at TSMC, and company-specific news such as Nike’s insider buy and Corcept’s FDA outcome — are setting the tone for trading. With several macro and policy milestones ahead, investors are balancing optimism about AI-driven growth against discrete regulatory and economic risks.