Nvidia's CEO Jensen Huang speaks during a keynote address at Nvidia's GTC Conference on March 16, 2026 in San Jose, California. Benjamin Fanjoy | Getty ImagesHello, this is Hui Jie writing to you from Singapore. Welcome to today's edition of the Daily Open newsletter. When is a drop in your share price after a blockbuster set of results a good thing?When you are Nvidia, according to some analysts. They say it shows a maturity in the AI company that puts it in the same league as Apple and Amazon when it comes to investor opinion. Even as the stock looks set for a negative open, the blow-out numbers are providing a boost to the broader markets, with Asian equities higher after the U.S. snapped its three-day losing streak. What you need to know todayIt's the company that investors have been waiting for this earnings season — Nvidia."This was an extraordinary quarter. Demand has gone parabolic," CEO Jensen Huang said as he closed out the earnings call. "The reason is simple: Agentic AI has arrived."Data center revenue nearly doubled and revenues soared past expectations for the quarter, but shares slipped in extended trading.Huang is not simply looking out for his own. He spoke of his company investing heavily across its supply chain or, in his words, the AI industry's "five-layer cake" of energy, chips, infrastructure, models and applications."As we're growing hundreds of billions of dollars at a time, we have to support our supply chain so that they are able to support our growth," he said.However, Huang also admitted the company has "largely conceded" China's AI chip market to Huawei, underscoring how U.S. export restrictions have accelerated Beijing's drive for semiconductor self‑sufficiency.Even so, investors seemed eager to have their share of this AI cake, especially in Asia as tech stocks surged in the region.Softbank spiked a whopping 20%, with other key suppliers such as Taiwan's TSMC, South Korea's SK Hynix and Japan's Renesas Electronics making gains.Samsung Electronics also climbed, helped by the last-minute suspension of a strike from the company's union, as government officials stepped in to head off the walkout.Elsewhere, Elon Musk's SpaceX is set to be the first in a hat-trick of mega IPOs this year, followed by OpenAI and Anthropic. Musk merged SpaceX with xAI in February, creating a combined entity that he valued at $1.25 trillion.Away from the tech world, the U.K. on Wednesday unveiled a "historic" trade deal with the Gulf states that marks the first such agreement among G7 nations.London expects this to boost the U.K. economy by an estimated £3.7 billion ($4.9 billion) every year, and you can find out more on CNBC later today, with our interview with Gulf Cooperation Council chair Abdulla bin Adel Fakhro on the deal.For Nvidia, the AI industry may be a five‑layer cake. For investors, the appetite for tech looks insatiable, even if some slices, like China, are off the menu.— Lim Hui Jie, Leonie KiddAnd finally...UAE fast tracks second West-East oil pipeline to bypass Strait of HormuzAbu Dhabi is accelerating construction of the new West-East pipeline to Fujairah as it looks to expand its oil export capacity and bypass the Strait of Hormuz chokepoint.The project, expected to come online in 2027, will double the Abu Dhabi National Oil Company's (ADNOC) export capacity.The second pipeline project comes as global energy supplies remain under pressure, flows through the Strait of Hormuz are severely limited, and repeated attacks on energy infrastructure and shipping have curtailed the UAE's ability to restore normal output.