Tesla ranked first in Tuesday's US stock trading volume, falling 1.93% with $35.6 billion in trading volume. Court documents revealed that a robotics technician has sued Elon Musk's Tesla, seeking $51 million in damages. Plaintiff Peter Hinterdobler claims he was suddenly attacked without warning by a malfunctioning Tesla robot and was struck by "approximately 8,000 pounds (about 3,600 kilograms) of counterweight," resulting in $1 million in medical expenses.
NVIDIA ranked second, falling 2.82% with $34.199 billion in trading volume. On Monday, the chipmaker announced a $100 billion investment in OpenAI, news that had boosted its stock price and the broader market.
However, some investors are reassessing this transaction between customer and supplier, as it bears similarities to events seen during the internet bubble period. Investors have also raised questions about whether there is sufficient energy support for the growth plans of these two prominent AI companies.
Amazon ranked third, falling 3.04% with $15.688 billion in trading volume. The company and three executives (Senior Vice President Neil Lindsay, Russell Grandinetti, and Vice President Jamil Ghani) are reportedly facing a civil lawsuit filed by the Federal Trade Commission (FTC) in Seattle court, alleging they deceived users into subscribing to Prime membership and intentionally created complex processes to make cancellation difficult. The case entered jury deliberation on Monday and is expected to last four weeks. If found in violation, Amazon could face billions of dollars in fines and refunds.
Additionally, the company will close all Amazon Fresh grocery stores in the UK.
Palantir ranked fifth, rising 1.80% with $11.27 billion in trading volume. Tuesday reports indicated the company will collaborate with Boeing on artificial intelligence in the defense sector.
Oracle ranked sixth, falling 4.36% with $10.82 billion in trading volume. Sources revealed that OpenAI CEO Sam Altman and Oracle's new co-CEO Clay Magouryk were expected to announce an expansion of their Texas data center on Tuesday.
Oracle Cloud is operating data centers in the region, and the ChatGPT maker is expected to spend hundreds of billions of dollars over the next decade leasing servers from these facilities.
Just one day before this event, Altman and NVIDIA CEO Jensen Huang announced that the chip design company would invest up to $100 billion in OpenAI at an unspecified time to help the startup develop its own data centers.
Meta Platforms ranked eighth, falling 1.28% with $7.973 billion in trading volume. Meta has reportedly increased its investment in fighting AI regulation, contributing "tens of millions of dollars" to a new super political action committee to resist state technology policy proposals that could hinder artificial intelligence development.
The company's newly established pro-AI political action committee, named "American Technology Excellence Initiative," represents the latest move by the company to combat policies it considers detrimental to AI development.
Last month, Meta also established a California-focused political action committee aimed at supporting tech-industry-friendly candidates in the state's elections.
AppLovin ranked thirteenth, rising 1.19% with $5.085 billion in trading volume.
Taiwan Semiconductor Manufacturing ranked fourteenth, rising 3.70% with $5.018 billion in trading volume. Tuesday news indicated its 2nm process prices would increase by at least 50%. Media reports suggest Taiwan Semiconductor Manufacturing's 2nm process pricing will rise at least 50% compared to 3nm, while the final generation 3nm CPU prices have already increased about 20% compared to previous generations. According to industry sources, Taiwan Semiconductor Manufacturing's latest 2nm process will begin mass production this quarter, but due to massive capital expenditures for advanced processes, the company currently has no discount or negotiation strategies. Supply chain estimates suggest flagship chips using 2nm process could reach $280 per unit. Additionally, memory chip giants Samsung and SK Hynix have already led price increases, accelerating semiconductor price inflation.
Furthermore, Micron Technology announced Tuesday its collaboration with Taiwan Semiconductor Manufacturing to manufacture HBM4E-based logic chips for standard and custom products.
Intel ranked nineteenth, rising 2.02% with $3.734 billion in trading volume. NVIDIA recently announced a $5 billion investment in the former PC chip leader Intel to jointly develop data center and personal computing products.