Pre-market trading in US stocks | NVIDIA rises over 8%, boosting AI concept stocks! Tesla receives over 1.96 million orders, XPENG-W to deepen cooperation with NVIDIA.

Top News in US Stocks

1. NVIDIA's Q2 revenue reached $13.51 billion, significantly surpassing market expectations. Net profit was $6.188 billion, an 843% YoY growth and a 203% MoM growth. NVIDIA also expects to achieve $16 billion in revenue for Q3, surpassing market expectations of $12.5 billion. The company has approved an additional $25 billion stock repurchase plan.

2. Investors who dared to short VinFast have accumulated nearly $1 million in paper losses, according to data from financial analysis firm S3 Partners.

3. Weibo's Q2 net revenue was $440.2 million, slightly lower than market expectations of $441 million.

4. CLOUD MUSIC's Q2 revenue was $24 billion, with a net profit of $8.24 billion and earnings per ADS of $12.69. The gaming business saw a 3.6% YoY growth, while CLOUD MUSIC experienced an 11.1% YoY decline.

5. Wu Xinzhou, former Vice President of XPENG-W's autonomous driving division, will now serve as Head of Automotive Products at NVIDIA.

6. Credit Suisse Funds AG has decided to cancel its planned IPO scheduled for Q4 2023.

7. XPENG-W CEO He Xiaopeng shared a photo with Wu Xinzhou and NVIDIA CEO Huang Renxun on Weibo, stating that deeper cooperation with NVIDIA is about to begin.

8. General Motors will cut 940 jobs in October and halt its information technology business in Arizona.

9. NVIDIA predicts that the demand for GPUs from cloud service providers is accelerating. Starting next year, GPU supply is expected to increase every quarter. Demand for gaming GPUs has already started to recover.

10. Splunk reported Q2 revenue of $911 million with a net loss of $63 million.

11. Snowflake reported Q2 revenue of $674 million with a net loss of $227 million.

Pre-market Movement

In pre-market trading, Dow Jones futures slightly declined, while Nasdaq futures rose by 1.17% and S&P 500 futures rose by 0.54%.

XPENG-W rose over 3%, NIO rose over 2%, and Li Auto rose over 1%.

Analyst Views

1. Analysts: AI Spending to Fuel Tech Stock Rally This Year

Wedbush analyst Daniel Ives stated that NVIDIA's performance and future prospects "mark a historic moment for the tech industry, signaling the upcoming wave of AI spending in the coming years." This outlook exceeds market expectations and will serve as the "fuel" igniting the rally in tech stocks, with expectations that this upward trend will continue until the end of the year. 2. Institutional Analysis: Powell's Speech This Week Will Maintain a Tough Stance, Pay Attention to Comments on Neutral Interest Rates

WisdomTree suggests that Federal Reserve Chairman Powell is likely to maintain the hawkish message from the previous meeting and its minutes in his speech at the Jackson Hole Symposium on Friday. The Fed is "realistic enough to know that this may take some time." However, any comments Powell makes on neutral interest rates could potentially impact the market.

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5. Jackson Hole Central Bank Symposium Is Coming, Will Powell Reenact the "Painful 9 Minutes"?

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