Wall Street Breakfast Trump backs off Greenland tariffs
Jan 21, 2026
Trump's about-face on Greenland tariffs boosted stocks significantly. A massive 1,000% surge from Sandisk highlights its pivot to cutting-edge, AI-driven storage. Natural gas prices soared over 50% due to a deep freeze ramping up heating demand. NVIDIA's CEO emphasizes the immense infrastructure needs for AI, while praises for Anthropic's Claude and ChatGPT at Davos underline their importance in development. Netflix faces mixed guidance, but analysts remain optimistic about its growth potential.
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Tariff Threat Reversed After Davos Talks
- President Donald Trump withdrew planned February tariffs after talks in Davos about Greenland and the Arctic region.
- Markets reacted positively with stocks up and treasury yields falling on the reversal.
AI Spurs Massive Infrastructure Demand
- Jensen Huang said AI triggered the largest infrastructure buildout in human history and will demand more energy, land, and skilled workers.
- He highlighted developer tools like Anthropic's Claude and OpenAI's ChatGPT as influential for software companies.
Meta Delivers Early High-Profile AI Models
- Meta's CTO said its Superintelligence Labs delivered initial high-profile AI models this month that already show promise.
- This signals big Tech moving from research prototypes to deployable AI systems.