$NVDA

According to Reuters, Apple regained the top spot as the world’s most valuable publicly traded company on Friday, with market cap about $4.88T, edging past Nvidia at about $4.86T after Nvidia shares fell 3.5%. The shift reflects changing AI investor sentiment and broader focus beyond initial AI leaders, while analysts say Nvidia remains central.

Investing.com reports that NVIDIA CEO Jensen Huang’s recent comments are influencing the AI chip narrative and investor expectations. It cites FY2025 Q4 remarks on “AI factories,” claims demand exceeds supply, and Huang’s denial of Vera Rubin manufacturing delays. The article references NVDA market cap above $4.9T and data center revenue of $51B (Q4 FY25).

Xi Jinping opened China’s World AI Conference in Shanghai, calling for open-source AI and cross-border cooperation, citing China Daily. The article links this stance to US-China AI competition and tighter US AI trade limits. It also cites Reuters on China discussing limits on overseas access to models and mentions Nvidia, OpenAI, Anthropic, and Meta.

Semiconductor stocks fell into bear-market territory as the SOX index dropped up to 5.7% on Friday and was down 11% for the week. The move followed Moonshot’s release of its Kimi K3 AI model, described as 2.8T parameters. Shares of Marvell, ARM, and Intel fell over 30% from peaks, while TSMC guided to higher capex.

Nvidia is partnering with Japan’s Noetra consortium to build a 140 MW AI factory for the government FRONTia program, using Nvidia DSX and Vera Rubin NVL72 racks. The plan calls for 27,500 Rubin GPUs and 13,750 Vera CPUs across 382 racks, with funding ¥387.3B ($2.4B) for FY2026-30. Volume production is expected in 2H this year.

MarketWatch reports the PHLX Semiconductor Index (SOX) fell into bear-market territory, down about 20% from a recent peak, with a late-session level of 11,675.18 versus a 11,707.78 threshold. Bank of America analyst Vivek Arya called the drop a “summer reset,” citing memory cost inflation concerns and seasonality. Stocks including NVDA, AMD, INTC, AVGO, MU, SNDK, STX, and WDC moved on AI and memory pricing news.

The article says technology stocks fell and indexes declined, with AI-linked semiconductors hit while rotation favored utilities, consumer staples, and health care. It cites earnings season expectations of 23-24% earnings growth, and reports Goldman Sachs profit up 78% and JPMorgan up 41% year over year. It also notes IBM shares down 25% and Netflix down 10% after results, plus CPI/PPI below forecasts.

NVIDIA said more than 20 Japanese industrial firms, including FANUC, Kawasaki Heavy Industries, Yaskawa Electric, Fujitsu, Hitachi, NEC, SoftBank, Sony, Kubota and Honda R&D, will join its Cosmos Coalition. It unveiled Cosmos 3 Edge, a 4B-parameter model for on-device robot AI on Jetson edge hardware, alongside Jetson T3000/T2000 shipping in Q1 2027.

Valar Atomics, a small modular nuclear reactor startup, is in talks to raise a new equity round seeking about a $6B valuation, with Sequoia expected to lead, according to three sources cited by The Information. The report says it may raise $1B. Valar previously raised $450M at a $2B valuation, and has partnered with Nvidia on powering AI data centers.

AI chip stocks fell Friday after Taiwan Semiconductor Manufacturing (TSMC) reported results that beat expectations but guided higher capital expenditures. TSMC shares dropped over 3%. Nvidia fell about 1.4%. Intel, Applied Materials, and AMD also declined, while Micron and Sandisk rose. The Nasdaq and S&P 500 were lower.