Key Takeaways
- Alphabet (GOOGL) shares dipped as the company confirmed a delay for its Gemini 3.5 Pro AI model, now slated for a July 2026 launch to allow for further refinement.
- Qualcomm (QCOM) unveiled a long-term roadmap at its Investor Day, targeting a mid-2028 launch for its data center CPU and expecting meaningful custom silicon revenue by Q1 2027.
- Brent Crude prices tumbled 4.3% to $73.74/bbl, hitting four-month lows amid easing supply concerns following diplomatic progress in U.S.-Iran talks.
- House Speaker Mike Johnson is set to meet with Donald Trump to resolve a legislative freeze caused by the SAVE America Act, which has stalled floor activity.
- Iberdrola (IBE) announced its first large-scale U.S. battery project in Oregon, a 41 MW facility scheduled to begin operations in 2027.
Tech Giants Navigate Delays and Diversification
Alphabet (GOOGL) shares turned lower on Wednesday, falling 0.1% to $345.89 on heavy volume following reports that the launch of Gemini 3.5 Pro has been pushed to July. The delay comes as Google engineers refine the frontier AI model using feedback from early testers and data from the smaller Gemini 3.5 Flash model. This setback follows a volatile week for the tech giant, which recently faced high-profile talent departures to rivals OpenAI and Anthropic.
Qualcomm (QCOM) is aggressively pivoting away from its smartphone-centric business model toward a broader AI compute platform. During its Investor Day, the company projected that its custom silicon and data center initiatives will begin generating meaningful revenue in Q1 2027. While Bank of America raised its price target to $195, analysts remain cautious about execution risks in the crowded data center market where Qualcomm plans to launch a dedicated CPU by mid-2028.
Energy Markets and Infrastructure Expansion
Brent Crude futures experienced a sharp sell-off, settling down 4.3% at $73.74 per barrel. The decline was primarily driven by reports that Iran secured waivers for oil exports during negotiations in Switzerland, potentially returning 1.5 million barrels per day to global markets. This influx of supply has eased the "inflation fear" that previously kept treasury yields elevated, providing a cooling effect on broader market sentiment.
In the renewable sector, Iberdrola (IBE) is expanding its U.S. footprint via its subsidiary Avangrid. The company is building the Shutler project in Oregon, its first large-scale battery facility in the country with 82 MWh of storage capacity. Scheduled for a 2027 start, the project is part of a larger €1.5 billion global investment strategy aimed at improving grid reliability and integrating renewable energy.
Political Deadlock in Washington
Speaker Mike Johnson is traveling to meet with Donald Trump tomorrow in an effort to break a legislative stalemate. The House floor remains effectively "frozen" due to internal GOP disagreements over the SAVE America Act, a bill focused on election integrity and voter ID requirements. Johnson is also coordinating closely with the executive branch, having recently met with Defense Secretary Pete Hegseth to discuss national security priorities amidst the ongoing floor freeze.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.