Africa Stock Market Closing Report | South African stock market rose over 0.4%, reaching a historical high for several consecutive days

Amazon's autonomous vehicle company Zoox recalls 332 vehicles due to software issues

The VIX index fell by 2%

The S&P 500 steadies after hitting a new high, with the three major indices showing mixed performance; Nike rises 4%

Global news you need to know before the U.S. stock market opens on Wednesday

Nike pre-market rose 2% as Apple CEO invested nearly $3 million in shares

<p>Bank of America analyst Vivek Arya predicts a $1 trillion surge in the chip industry by 2026, led by Nvidia and Broadcom. Arya believes the AI boom is still in its early stages despite high valuations.</p>

- Bank of America analyst Vivek Arya predicts the AI industry, driven by companies like Nvidia and Broadcom, is at the midpoint of a significant transformation, forecasting a 30% annual growth in global semiconductor sales, reaching over $1 trillion by 2026.  
- Arya highlights Nvidia's unique pricing and growth metrics, suggesting that investing in top semiconductor companies based on gross margins is a reliable strategy.  
- Despite the challenges of high capital expenditures for AI data centers, he remains optimistic about the sector's long-term growth potential and the dominance of selected leading companies.

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