{"id":60605,"date":"2026-04-06T16:38:24","date_gmt":"2026-04-06T20:38:24","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-edge-higher-as-trumps-iran-deadline-looms-nvidia-backed-firmus-hits-5-5b-valuation\/60605\/"},"modified":"2026-04-06T16:38:24","modified_gmt":"2026-04-06T20:38:24","slug":"markets-edge-higher-as-trumps-iran-deadline-looms-nvidia-backed-firmus-hits-5-5b-valuation","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-edge-higher-as-trumps-iran-deadline-looms-nvidia-backed-firmus-hits-5-5b-valuation\/60605\/","title":{"rendered":"Markets Edge Higher as Trump\u2019s Iran Deadline Looms; Nvidia-Backed Firmus Hits $5.5B Valuation"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Crude oil futures surged<\/strong> as the market braced for a <strong>Tuesday 8:00 PM ET deadline<\/strong> set by President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> for Iran to reopen the <strong>Strait of Hormuz<\/strong>.<\/li>\n<li><strong>Major U.S. stock indices closed higher<\/strong> on Monday, with the <strong>Nasdaq<\/strong> leading gains at <strong>0.49%<\/strong> despite escalating rhetoric between Washington and Tehran.<\/li>\n<li><strong>Nvidia-backed Firmus<\/strong> reached a <strong>$5.5 billion valuation<\/strong>, signaling sustained investor appetite for <strong>AI infrastructure<\/strong> and renewable-powered data centers.<\/li>\n<li><strong>Commerce Secretary Howard Lutnick<\/strong> is scheduled to testify before a <strong>House Committee on May 6<\/strong>, facing questions regarding both the department&#39;s budget and personal past associations.<\/li>\n<\/ul>\n<h2>Geopolitical Tensions Drive Oil Volatility<\/h2>\n<p>Energy markets remained on high alert Monday as <strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> reiterated his ultimatum to the Iranian government. The President has threatened to target <strong>Iranian power plants and bridges<\/strong>\u2014an operation he dubbed <em>&quot;Power Plant Day and Bridge Day&quot;<\/em>\u2014if the <strong>Strait of Hormuz<\/strong> is not reopened to tanker traffic by tomorrow evening.<\/p>\n<p>In response, <strong>Iran&#39;s top joint military command<\/strong> dismissed the threats, stating that military action would not compensate for what they described as U.S. <em>&quot;humiliation and disgrace&quot;<\/em> in the region. <em>Crude futures edged higher<\/em> on the news, with <strong>Brent<\/strong> crude trading near <strong>$110 per barrel<\/strong> and <strong>West Texas Intermediate (WTI)<\/strong> rising to <strong>$112.53<\/strong> as traders priced in the risk of supply disruptions.<\/p>\n<h2>Wall Street Gains Despite Global Uncertainty<\/h2>\n<p>U.S. equities managed to finish the session in positive territory, shaking off the immediate &quot;hopium&quot; surrounding a potential <strong>45-day ceasefire<\/strong> proposal mediated by Pakistan. The <strong>Nasdaq (<a href=\"\/stock\/.IXIC\">.IXIC<\/a>)<\/strong> unofficially closed up <strong>107.35 points<\/strong>, or <strong>0.49%<\/strong>, to finish at <strong>21,986.53<\/strong>.<\/p>\n<p>The <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/.SPX\">.SPX<\/a>)<\/strong> rose <strong>26.71 points (0.41%)<\/strong> to <strong>6,609.40<\/strong>, while the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/.DJI\">.DJI<\/a>)<\/strong> added <strong>153.97 points (0.33%)<\/strong> to close at <strong>46,658.64<\/strong>. <em>Analysts noted that while tech stocks provided a cushion for the broader market, volatility remains elevated<\/em> as the Tuesday night deadline approaches.<\/p>\n<h2>AI Infrastructure Boom: Firmus Hits $5.5 Billion<\/h2>\n<p>In corporate news, <strong>Firmus Technologies<\/strong>, a data center developer backed by <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong>, has seen its valuation climb to <strong>$5.5 billion<\/strong>. The company is currently deploying a massive fleet of <strong>renewable energy-powered AI data centers<\/strong>, utilizing <strong>Nvidia\u2019s GB300 GPUs<\/strong> to meet the global demand for high-performance computing.<\/p>\n<p>The valuation milestone comes as <strong>Firmus<\/strong> prepares for a potential <strong>initial public offering (IPO)<\/strong> later this year. The company\u2019s focus on <strong>liquid cooling technology<\/strong> and sustainable energy has made it a standout in the &quot;picks and shovels&quot; phase of the AI expansion, attracting significant interest from private equity and sovereign wealth funds.<\/p>\n<h2>Lutnick Set for Congressional Scrutiny<\/h2>\n<p><strong>U.S. Commerce Secretary Howard Lutnick<\/strong> is slated to appear before a <strong>House Committee on May 6<\/strong>, according to reports from <strong>CNN<\/strong>. The testimony is expected to cover the <strong>Department of Commerce\u2019s 2026 budget<\/strong> and the administration&#39;s aggressive trade and tariff policies.<\/p>\n<p>However, the hearing may also address recent controversies surrounding <strong>Lutnick\u2019s<\/strong> past. The Secretary has recently faced scrutiny over acknowledged meetings with <strong>Jeffrey Epstein<\/strong> following the financier&#39;s 2008 conviction, a development that has led to speculation regarding his standing within the current cabinet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude oil futures surged as the market braced for a Tuesday 8:00 PM ET deadline set by President 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