On Thursday, NVIDIA, the top stock by trading volume, closed up 4.39%, marking its seventh consecutive day of gains and reaching a new all-time high. Its trading volume was $41.077 billion, and its market capitalization exceeded $5.7 trillion. NVIDIA is scheduled to release its Q1 2027 fiscal year earnings on May 20th. Seeking Alpha analysts noted ahead of the report that, despite facing high expectations, the core business drivers for this AI chip giant remain solid. Analysts believe the current demand for AI infrastructure computing continues to outstrip supply, a tight situation expected to persist into 2027. The data center business, as NVIDIA's core growth engine, is anticipated to continue benefiting from the strong ramp-up of its Blackwell series chips. Citigroup forecasts Q1 revenue to reach $80 billion, approximately $1.4 billion above market consensus, primarily attributed to the better-than-expected production ramp of the B300 chip. Wall Street widely expects NVIDIA to deliver another stellar report of "beating earnings and raising guidance." RBC Capital noted that NVIDIA's revenue has averaged 3% above market expectations over the past three quarters. Wells Fargo analysts have constructed a new model driven by gigawatt capacity, predicting data center revenue for fiscal 2027 to reach $354.5 billion and subsequently raising their price target to $315. Additionally, reports on Thursday indicated that the U.S. Department of Commerce has approved approximately ten Chinese companies to purchase NVIDIA's H200 chips. The approved list includes several internet companies, and distributors and server-related companies such as Lenovo and Foxconn have also received relevant authorizations. Under the licensing terms, each approved customer can purchase up to 75,000 H200 chips, either directly from NVIDIA or through authorized distributors. Lenovo has confirmed to media that it is one of the companies authorized to sell the H200 in China. Micron Technology, the second by volume, closed down 3.44% with a trading volume of $33.335 billion. The stock had closed above $800 for the first time the previous day, setting a record high and surpassing a $900 billion market cap for the first time. Bank of America raised its price target for Micron from $500 to $950 while maintaining a "Buy" rating. The bank believes that in the coming years, demand growth for memory chips related to AI servers and data centers will continue to outpace supply growth. This supply-demand imbalance is becoming a key component of the bullish narrative. Tesla Motors, ranked third, closed down 0.44% with a trading volume of $20.148 billion. The U.S. President visited China, accompanied by CEOs from 17 major U.S. companies, including Tesla CEO Elon Musk. Syndax Pharmaceuticals, ranked fourth, closed down 4.46% with a trading volume of $15.474 billion. The stock has now declined for four consecutive sessions, though it remains up over 480% year-to-date. Cerebras Systems, ranked seventh, surged 68.15% with a trading volume of $10.903 billion. The stock successfully debuted on Nasdaq on Thursday, with Morgan Stanley, Citigroup, Barclays, and UBS Group as lead underwriters. As one of NVIDIA's strongest challengers, Cerebras launched with an offering price of $185 and raised $5.55 billion, making it the largest global IPO so far in 2026. Following its successful listing, Cerebras also became the largest IPO in the U.S. stock market this year. Previously, the largest IPO by proceeds was American indoor air solutions provider Madison, which raised $2.2 billion in its April listing. Broadcom, ranked eleventh, closed up 5.52%, reaching a new all-time high with a trading volume of $8.368 billion. Its market capitalization surpassed $2 trillion for the first time. Wolfe Research reiterated its "Outperform" ratings on NVIDIA, Broadcom, and Marvell Technology, adding that NVIDIA remains its top investment pick, and the stock's recent underperformance has not altered its fundamental view. Analyst Chris Caso stated that concerns about cloud capital expenditure, which previously pressured AI computing stocks, have largely dissipated following strong Q1 results from major tech giants, with spending forecasts for hyperscale cloud providers being continuously revised upward. Cisco, ranked twelfth, closed up 13.41% with a trading volume of $8.181 billion. A surge in AI (Artificial Intelligence) orders propelled the networking equipment giant to deliver a market-surprising earnings report. On May 13th local time, Cisco released its Q3 2026 fiscal year results for the period ending April 25th. During the reporting period, the company's revenue was $15.84 billion, a 12% year-over-year increase, surpassing market expectations of $15.56 billion. Non-GAAP net profit was $4.2 billion, up 10% year-over-year. Diluted earnings per share (EPS) were $1.06, above the market consensus of $1.04. Simultaneously, Cisco announced that as part of its restructuring plan, it will cut nearly 4,000 jobs, representing less than 5% of its workforce, to shift investment towards AI and related growth areas. Taiwan Semiconductor Manufacturing, ranked fourteenth, closed up 4.48% with a trading volume of $7.693 billion. According to media reports on Thursday, TSMC is accelerating capacity expansion and plans to build nine new wafer fabs and advanced packaging facilities by 2026 to meet future demand. The company also raised its forecast for the global semiconductor market size in 2030 to $1.5 trillion. Qualcomm, ranked twentieth, closed down 6.14% with a trading volume of $4.927 billion. According to Sigmaintell data, global smartphone SoC shipments in Q1 2026 totaled approximately 290 million units, a year-over-year decline of about 4.0%. The mid-to-low-end market, targeting price-sensitive users, was most impacted. Rising costs leading to higher-end product prices have suppressed consumer demand, causing brands to reduce inventory and chip procurement. Sales in the budget smartphone market declined particularly sharply. Data shows that Qualcomm's smartphone SoC shipments in Q1 were 71 million units, a 7% year-over-year decrease. (Screenshot from Sina Finance App - Market - US Stocks - Stock Market Section, swipe left for more data) Download the Sina Finance App.