NVIDIA, ranked first in Tuesday's US stock trading volume, closed down 0.70% with a turnover of $32.537 billion. CEO Jensen Huang detailed the company's AI system design strategy, stating that NVIDIA intends to continue utilizing copper-based connections alongside newer optical technologies in its upcoming platforms, including the Vera Rubin Ultra and future systems. This decision indicates NVIDIA is not hastily transitioning entirely to optical networking but is instead balancing both options, continuing to use proven and efficient copper technology where applicable, particularly in current data center configurations. Analysts noted that while optical communication technology is advancing, large-scale deployment may take time as infrastructure and supply chains develop. NVIDIA also highlighted ongoing improvements in optical networks, including better performance and reliability, but suggested that both copper and optical designs will continue to evolve in parallel as AI demand grows.
Micron Technology, the second-highest by volume, closed up 4.50% with a turnover of $19.253 billion. It became the first major tech stock to hit a new all-time high since the recent market adjustment, with other memory stocks also performing strongly. RBC Capital Markets raised its price target on Micron from $425 to $525, maintaining an "Outperform" rating, citing optimism about a memory chip super cycle. Analysts led by Srini Pajjuri stated, "Given continued strength in memory chip pricing, we have significantly raised our earnings estimates. The key question now is the duration of this cycle—our baseline view is that price increases will persist through 2026. While DDR prices may eventually moderate, HBM's pricing advantages and increased capacity per chip are expected to provide sustained benefits, supporting the cycle into 2027." They added that structural drivers, including strong data center demand for HBM, DDR, and enterprise SSDs, are playing an increasingly critical role in this super cycle, and as sustainability becomes clearer, valuation multiples could expand further.
Tesla, ranked third, closed up 0.94% with a turnover of $18.523 billion. The company signed a $4.3 billion agreement with LG Energy Solution to build an LFP battery factory in Lansing, Michigan, with production scheduled to begin in 2027. The US government announced the factory will produce prismatic LFP battery cells to support Tesla's Megapack 3 energy storage units manufactured in Houston. This effort is part of a broader US plan to expand domestic battery production and reduce reliance on Chinese-made batteries. Previous reports indicated Tesla was seeking alternative suppliers due to tariff and foreign supply chain issues. LG Energy Solution is one of the few companies producing LFP batteries in the US and will supply Tesla for several years.
SanDisk, ranked sixth, closed up 2.35% with a turnover of $10.201 billion, as US chip and memory stocks generally rose on Tuesday.
Amazon, ranked seventh, closed up 1.63% with a turnover of $9.589 billion. CEO Andy Jassy stated in an internal meeting that he expects artificial intelligence to help double the sales of Amazon Web Services, far exceeding previous estimates. Jassy told employees that AWS sales could reach $600 billion over the next decade, whereas he had previously estimated the figure to be closer to $300 billion.
Nebius, ranked tenth, closed down 10.41% with a turnover of $6.593 billion. The stock faced pressure, primarily driven by dilution concerns related to its latest financing. The company announced plans to raise $3.75 billion through a convertible bond offering to support its AI data center infrastructure build-out. Convertible bonds can eventually convert to equity, increasing dilution risk and often impacting near-term market sentiment. The timing added another layer to the market reaction, as the fundraising followed a strong rally driven by Nebius's newly announced multi-year agreement with Meta. After such a sharp rise, some investors appeared to step back to reassess valuations and the cost of financing future growth. Despite the pullback, D.A. Davidson analyst Alexander Platt, ranked in the top 4% of Wall Street analysts, maintained a constructive view, seeing the Meta agreement as significant validation of Nebius's positioning in the AI infrastructure race.
Eli Lilly, ranked fourteenth, closed down 5.94% with a turnover of $5.26 billion. This followed news that Structure Therapeutics reported positive results for its experimental weight-loss drug aleniglipron. Data showed patients lost approximately 15% of their body weight after 44 weeks. BMO Capital Markets analyst Evan Seigerman noted the drug's efficacy "looks highly competitive" and may even be superior to similar oral drugs from Novo Nordisk and Eli Lilly. Structure Therapeutics plans to initiate late-stage studies in the second half of 2026, using a "low and slow" dose titration approach to prevent gastrointestinal side effects.
Western Digital, ranked eighteenth, closed up 9.64% with a turnover of $4.225 billion.
Intel, ranked nineteenth, closed down 3.72% with a turnover of $3.935 billion. The decline occurred amid heightened market focus on NVIDIA's showcase of next-generation GPU systems and expanded AI infrastructure plans. At its event, NVIDIA outlined its latest hardware roadmap, including the Vera Rubin architecture and updated Blackwell-based systems aimed at enhancing AI inference performance. The company also highlighted new inference-focused chips and projected strong long-term demand for AI infrastructure, reinforcing expectations that GPU-centric platforms will remain central to data center deployments. While Intel has emphasized its AI inference capabilities using x86 processors and collaborates with NVIDIA in integrated systems, market participants are increasingly recognizing that NVIDIA's expansive roadmap and evolving ecosystem could disrupt the semiconductor competitive landscape in the near future.