SpaceX stock recovered from an early Friday decline and moved back above its $135 initial public offering price as trading volume in the tokenized SpaceX market surpassed $90 million. SPCX fell as low as $131.22 shortly after the market opened before recovering to approximately $136.29 at 12:32 p.m.
Nvidia stock was heading toward a sixth consecutive decline Friday, potentially giving the artificial intelligence chipmaker its longest losing streak since January 2022 just days before a closely watched earnings report. NVDA traded at approximately $216.30 at 10:06 a.m.
Robinhood Markets added approximately $13.9 billion to its market capitalization between Tuesday’s close and early Friday trading as its shares rallied alongside Bitcoin and other cryptocurrency linked stocks. HOOD closed at $91.53 on Tuesday before rising 4.63% to $95.77 on Wednesday.
Micron Technology CEO Sanjay Mehrotra says artificial intelligence is fundamentally changing the economics of the memory industry, turning memory from a frequently oversupplied component into strategic computing infrastructure. His comments coincided with a strong session for Micron, although there is insufficient evidence to attribute the rally entirely to the interview.
Strategy Inc, formerly MicroStrategy, has added approximately $7.8 billion to its market capitalization in two trading sessions as Bitcoin’s recovery above $72,000 reignited demand for crypto linked equities. MSTR closed at $92.52 on Tuesday before surging 12.68% to $104.25 on Wednesday.
Walmart shares plunged almost 9% Thursday, erasing approximately $81.2 billion from the retailer’s market capitalization after its weakest U.S. comparable sales growth in six years raised concerns about consumer demand.
Moderna shares plunged one day after their historic 177% rally, erasing approximately $14.2 billion from the biotechnology company’s market value as investors reassessed the valuation created by its cancer-treatment breakthrough. MRNA traded near $138.89 at 10:31 a.m.
Alphabet owned Waymo has revealed new details about the computing system powering its robotaxis, including a custom 5 nanometer chip capable of performing 1,000 trillion operations per second. The disclosure, published on August 20, provides the clearest look yet at the onboard computer responsible for processing information from Waymo’s cameras, lidar and radar.
Super Micro Computer says an independent board investigation found no evidence that its current senior management knew about an alleged scheme to divert export controlled artificial intelligence servers to China. The review also found no evidence that Super Micro directly sold restricted products to known prohibited parties or locations.
Micron Technology has unveiled Micron Research Labs, a long-term semiconductor research institution backed by a planned $10 billion investment over the next decade. The Boise-headquartered organization will pursue breakthroughs in memory technology, computing architectures, advanced packaging and future semiconductor manufacturing.
CoreWeave has secured a multiyear artificial intelligence cloud agreement with Hudson River Trading, expanding the cloud provider’s presence among some of the world’s largest quantitative trading firms. The agreement is worth multiple billions of dollars, according to Bloomberg.
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