NVIDIA Reaches New Highs, Leading the Market
On Thursday, NVIDIA topped the US stock market trading volume, closing up 1.33% at a record high, with a trading volume of $22.734 billion. Intraday market value briefly surpassed $3.9 trillion, and several institutions forecast that NVIDIA could exceed a market value of $4 trillion, becoming the highest-valued company in history.
Previously, OpenAI had publicly stated it would not be widely adopting Google TPU chips but would continue relying on NVIDIA GPUs and AMD AI accelerators to support model training and inference. This decision was due to the proven performance and stable supply agreements with these companies. This announcement signals OpenAI’s firm support for the GPU path and may limit Google's AI hardware market share growth.
Tesla's Weak Deliveries Drag Down Stock Price
Tesla, with the second-highest trading volume, fell 0.10% to $315.35, with a trading volume of $17.946 billion. Tesla's second-quarter vehicle production and delivery data showed deliveries of about 384,000 units, down approximately 13.5% year-on-year, with delivery volume of the main models Model 3/Y down 12% year-on-year. Despite production recovery, weak delivery performance reflects market demand pressure.
Apple's Sales Rebound in China Boosts Stock Price
Apple, with the third-highest trading volume, closed up 0.52% at $213.55, with a trading volume of $7.422 billion. Data shows that Apple's iPhone sales in the Chinese market grew by 8% year-on-year in the second quarter, marking the first quarterly increase since 2023. Analysts attribute the sales rebound to promotions for the iPhone 16 series and strong performance of the Pro models.
Microsoft Announces Mass Layoffs
Microsoft, with the fourth-highest trading volume, closed up 1.58% at $498.84, with a trading volume of $6.923 billion. Microsoft announced plans to lay off about 9,000 people, accounting for approximately 4% of its total workforce, marking the largest layoff since 2023. The move aims to restructure in response to AI deployment and market changes.
Updates on Other Popular Stocks
- Meta rose 0.76%, with a trading volume of $6.148 billion, as it tests an AI chat proactive interaction feature called "Project Omni".
- Robinhood fell 3.65%, with a trading volume of $5.261 billion, as OpenAI clarified it is not cooperating with it to issue stock tokens.
- Datadog surged 14.92%, with a trading volume of $4.55 billion, set to replace Juniper Networks in the S&P 500 Index.
- Oracle rose 3.19%, with a trading volume of $4.018 billion, as OpenAI plans to rent its large-scale computing power for the "Stargate" project.
- Bitmine Immersion skyrocketed 130.77%, with a trading volume of $3.806 billion, after completing a $250 million private equity financing to increase holding Ethereum as a core reserve asset.
- Circle rose 6.07%, with a trading volume of $3.188 billion, after applying to the US Office of the Comptroller of the Currency to establish a national trust bank, planning to independently custody USDC reserve funds.
- Broadcom rose 1.96%, with a trading volume of $2.879 billion, as Mizuho raised its target price to $315.
Market Summary
In this trading session, the US stock market focused on NVIDIA's market cap reaching new highs and OpenAI's firm support for the GPU path, reflecting the ongoing AI investment boom. Tesla's weak delivery figures indicate market demand pressure, while Microsoft's layoffs signify continued structural adjustments by tech companies to accommodate the AI transition. The overall market seeks balance between AI momentum and traditional demand fluctuations. Investors may closely monitor subsequent non-farm payroll data and Federal Reserve developments for their impact on market trends.
