Breakfast | US stock market index reversed V-shaped and closed up across the board, NVIDIA surged 8%, Jensen Huang emphasized strong product demand

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US stocks rose across the board, with chip stocks leading the way and solar energy concept stocks performing strongly

CPI data eliminated the possibility of a significant rate cut by the Federal Reserve next week, causing US stocks to fall by over 1% in early trading. However, a V-shaped reversal occurred in the afternoon, boosted by NVIDIA's strong performance. Jensen Huang exaggeratedly emphasized the huge demand for products, leading NVIDIA to rise by 8%, marking its largest single-day gain in six weeks. The Nasdaq reversed its decline to rise by over 2%, while the S&P 500 and Nasdaq 100 indices completely erased intraday declines of at least 1.5% for the first time in two years. The chip index rose by nearly 5%.

By the close, all three major US indices rose: the S&P 500 index rose by 1.07%, the Dow rose by 0.31%, and the Nasdaq rose by 2.17%.

AMD rose by 4.91%, Broadcom by 6.79%, Arm by 10.3%, and Qualcomm by 3.02%.

AI concept stocks mostly rose. Oracle rose by 0.83% to a new closing high, launching the Zettascale cloud computing cluster and stating that the company can obtain up to 131,072 Blackwell chips from NVIDIA.

Chinese concept stocks had mixed performances. Netease rose by 2.29%, Tencent Holdings ADR by 1.41%, Meituan ADR by 1.75%, Bilibili by 3.78%, JD.com by 2.23%, Baidu by 2.32%, Pinduoduo by 2.39%, Alibaba by 1.21%, ZEEKR by 3.87%, XPeng by 4.46%, Nio by 2.19%, and Li Auto by -0.1%.

Solar energy concept stocks almost all closed higher, with FTC Solar up by 101.29%, Array Tech by 15.99%, First Solar by 15.19%, MAXN, Atlantica Solar ADR, and SHLS by 13.75%, SolarEdge by over 8.4%, Daqo New Energy ADR and PV inverter supplier Enphase Energy by over 5.7%, and JinkoSolar ADR by 4.6%.

After the US presidential debate, a poll showed that 63% of viewers believed Harris won, further easing concerns about the "Trump trade," leading to a 16% plunge in Trump Media & Technology Group (DJT.O), the largest drop since June, closing down by 10%.

Media: US considering allowing NVIDIA to export advanced chips to Saudi Arabia

NVIDIA CEO: High demand for Blackwell causing supply shortages and tense customer relationships

Jensen Huang said, "The demand is too high, everyone wants to be the first to get it, everyone wants to order the most, our customers are quite excited, it's only natural, it's indeed very tense, we are trying our best." NVIDIA has outsourced the physical production of hardware, and suppliers are working hard to catch up.

Musk: Tesla's next-generation AI chip Dojo 2 to be mass-equipped by the end of 2025

Media: Samsung begins mass production of four-layer unit (QLC) ninth-generation V-NAND

Insiders also said that Samsung Electronics is cutting up to 30% of its overseas administrative staff and about 15% of its overseas sales and marketing personnel.

EU to Establish AI Factories to Enhance Global Competitiveness

The European Commission announced on the 10th that it has officially launched a tender for the establishment of AI factories, aiming to enhance the EU's global competitiveness in the field of artificial intelligence. These AI factories will be built around the supercomputers belonging to the "European High-Performance Computing Joint Undertaking" and will be open to European users such as startups, industries, and researchers in the future.

Microsoft and Quantum Computing Leader Quantinuum Announce a Major Breakthrough

They have successfully entangled the most ever 12 logical qubits.

Shenzhen: Encouraging Financial Institutions to Collaborate with Tech Companies such as Tencent and Huawei to Enhance the Application of AI Large Models in the Financial Field.

After US CPI Release: Probability of Fed Cutting Rates by 25 Basis Points Next Week Rises to 85%

According to CME "FedWatch": The probability of a 25 basis point rate cut by the Fed in September is 85%, while the probability of a 50 basis point cut is 15% (before the CPI release, the probabilities were 71% and 29% respectively). The overall CPI in the US slowed to 2.5% year-on-year in August, in line with expectations, marking the lowest level since February 2021. Core inflation remained at 3.2% year-on-year, as expected. The market noted that core inflation monthly rate was higher than expected at 0.3%, supporting the expectation of a 25 basis point rate cut by the Fed next week.

Citi Lowers Bet on Fed Rate Cut Size, Expects 25 Basis Point Cut in September

Citi economists have abandoned their prediction of a 50 basis point rate cut by the Fed at the upcoming meeting, instead expecting a 25 basis point cut, while maintaining the expectation of a total of 125 basis points cut this year.

STARPLUS LEGEND: Unaware of Any Information to Be Disclosed to Avoid False Market in Company's Securities

STARPLUS LEGEND responds to unusual price and trading volume fluctuations: The board confirms that the group's business operations (including the IP creation and operation segment and the new retail segment) remain normal, with no significant adverse changes in the group's business operations and financial condition, and there have been no changes in the shareholding of the company's controlling shareholder (as defined in the Listing Rules of The Stock Exchange of Hong Kong Limited).

Media: OpenAI Discussing Fundraising at a Valuation of $150 Billion

The Wall Street Journal reported at the end of August with a valuation of $100 billion. OpenAI hopes to raise about $6.5 billion and is discussing raising $5 billion from bank debt financing. This round of financing will be led by Thrive Capital. The largest investor, Microsoft, will also participate, and Apple and NVIDIA have been in talks about investment.

Institution: Expects iPhone 16 Series Global Shipments to Reach 73 Million Units in 2024

Market research firm TechInsights analysts predict that Apple's iPhone 16 series will surpass its predecessors, with global shipments expected to reach 73 million units in 2024. The iPhone 16 Pro Max is expected to become the best-selling model in the iPhone 16 series, accounting for 35% of total sales

Huawei's three foldable phones have attracted over 5 million reservations

On a certain second-hand e-commerce platform, many scalpers have already started to raise prices, ranging from 30,000 RMB to 160,000 RMB. The Huawei Mate XT Masterpiece will go on sale at 10:08 on September 20th, and is currently in the reservation stage.

China supports qualified overseas institutions to invest in domestic insurance institutions

The State Council issued the "Several Opinions on Strengthening Regulation, Preventing Risks, and Promoting High-Quality Development of the Insurance Industry". The opinions propose to continue promoting high-level opening-up to the outside world. Support high-quality overseas insurance institutions to establish legal entities and branches in China. Support qualified overseas institutions to invest in domestic insurance institutions. Encourage Chinese insurance institutions to steadily expand overseas business, continuously improve operational management and risk prevention capabilities. Deepen international insurance regulatory exchange and cooperation, and actively participate in international insurance governance