Last night, the "AI bull stocks" reignited! Zuckerberg publicly denies “excess computing power”
As "AI bull stocks" such as storage and optical communications resumed their upward trend, on July 9, local time, the three major U.S. stock indexes collectively closed higher, with the Dow Jones Industrial Average rising 0.27%, the Nasdaq Composite Index rising 1.3%, and the S&P 500 Index rising 0.81%. Cisco rose nearly 4% and American Express rose more than 3%, leading the Dow. Most large technology stocks rose, with Meta rising by more than 4%, Broadcom and Tesla rising by more than 3%, SpaceX rising by more than 2%, and Amazon rising by more than 1%.
As "AI bull stocks" such as storage and optical communications resumed their upward trend, on July 9, local time, the three major U.S. stock indexes collectively closed higher, with the Dow Jones Industrial Average rising 0.27%, the Nasdaq Composite Index rising 1.3%, and the S&P 500 Index rising 0.81%. Cisco rose nearly 4% and American Express rose more than 3%, leading the Dow. Most large technology stocks rose, with Meta rising by more than 4%, Broadcom and Tesla rising by more than 3%, SpaceX rising by more than 2%, and Amazon rising by more than 1%. Precious metals, storage, and computer hardware sectors were among the top gainers, with SanDisk up more than 7%, American Silver up nearly 6%, Western Digital up more than 5%, Micron Technology and Dell Technology up more than 4%, Logitech, Seagate Technology, and Pan American Silver up more than 3%. The oil and gas sector fell, with Exxon Mobil falling more than 2%, Chevron and BP falling more than 1%. The Nasdaq China Golden Dragon Index rose 0.56%, iQiyi rose more than 8%, and Daqo New Energy rose more than 3%. International oil prices fell as traders expected the scale of the U.S.-Iran conflict to be limited and worries about another attack on energy infrastructure eased. On July 9, the main U.S. oil contract closed down 2.33% at $71.81/barrel; the main Brent oil contract fell 2.52% at $76.05/barrel. On that day, international spot precious metals generally closed higher. London spot gold rose 1.21% to close at $4,123.55 per ounce; London spot silver rose 2.94% to close at $59.954 per ounce. All three major U.S. stock indexes closed higher Micron again raises U.S. investment plans On July 9, local time, all three major U.S. stock indexes closed higher. As of the close, the Dow rose 0.27% to 52,487.41 points, the S&P 500 rose 0.81% to 7,543.64 points, and the Nasdaq rose 1.3% to 26,206.89 points. Market analysts believe that the recovery in market sentiment stems from solid U.S. employment data, stabilizing Fed policy expectations, and AI-driven giants such as Micron Technology increasing local chip investment and strategic cooperation, boosting expectations for the long-term prospects of the technology sector and promoting a rebound in risk appetite. Most large technology stocks rose. Meta rose by more than 4%, Tesla rose by more than 3%, Amazon rose by more than 1%, Apple rose by nearly 1%, Microsoft rose by 0.27%, Google fell by 0.84%, and Nvidia fell by 0.66%. Chip stocks generally rose. The Philadelphia Semiconductor Index rose 3.06%, ARM rose more than 9%, Ram Research rose more than 6%, AMD Semiconductor rose more than 5%, Marvell Technology rose nearly 5%, Micron Technology rose more than 4%, Broadcom rose more than 3%, and Qualcomm rose more than 2%. On July 9, local time, memory chip giant Micron Technology announced that the company plans to invest more than US$250 billion in the United States by 2035. The move is aimed at meeting the unprecedented demand for memory chips brought about by the rapid expansion of artificial intelligence infrastructure. The new investment plan is a further increase from the $200 billion announced in June last year, which itself has increased by $30 billion from Micron’s original investment plan. Micron said its goal is to increase U.S. production capacity to 40% of its total DRAM production. Most Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index rising 0.56%. In terms of popular Chinese concept stocks, iQiyi rose by more than 8%, Daqo New Energy rose by more than 3%, WeRide Zhixing rose by more than 3%, Autohome rose by nearly 3%, and Alibaba rose by more than 2%. In terms of decline, Century Internet fell by more than 3%, Miniso fell by nearly 3%, NIO fell by more than 2%, Huazhu Group fell by more than 2%, and Xpeng Motors fell by more than 2%. Warsh launches Fed's "big reform" People from all walks of life join the five task forces On the macro front, the list of the "five major working groups" promoted by new Federal Reserve Chairman Warsh to promote central bank reform has been released. The lineup spans venture capital, technology, academia and global central bank circles. The appointed consultants include: Greg Mankiw, the former senior economic adviser during the George W. Bush administration, Thomas Sargent, the Nobel Prize winner in economics, and Doug Macmillan, the former CEO of Walmart. The list also includes some unconventional names, such as conservative venture capitalist Marc Andreessen, who will serve on the jobs task force along with two other heavyweights from the tech world.
This move is seen as a key step in Warsh's reshaping of the Fed's policy framework, focusing on five major directions: communication methods, balance sheets, economic data, AI productivity impact and inflation framework. The five task forces will each focus on the following areas: productivity, public communications, central bank asset portfolios, inflation drivers, and the quality of economic data used to guide policy decisions. Each task force is co-led by three external consultants. Warsh said the task force's goal is to put the Fed in the best position to achieve its goals, and each ad hoc working group will operate independently and be supported by Fed staff. In addition, the U.S. Department of Labor announced that the number of initial jobless claims in the United States dropped by 2,000 to 215,000 last week, slightly lower than market expectations of 218,000 and remaining near historical lows. However, the number of people continuing to apply for unemployment benefits in the previous week climbed to 1.814 million, a new high since March. SK Hynix U.S. IPO priced at $149 per share SK Hynix confirmed that its American Depository Receipts (ADRs) issuance guidance price has been set at US$149 per share, and the ADRs are expected to begin trading on Nasdaq on July 10. The IPO raised approximately US$26.5 billion and was oversubscribed by more than 7 times. The issuance attracted over 500 institutions to place orders, with subscription demand approaching US$200 billion. The top 25 customers accounted for approximately 67% of the total, and is expected to set a new record for the largest foreign company listed on the US stock market. Zuckerberg publicly denies “excess computing power” In the past two weeks, previously prosperous technology stocks have experienced a wave of violent fluctuations. Among them, Meta’s “essay” about “selling computing power” points to investors’ increasing hesitance about whether huge capital expenditures can produce huge returns. As a party involved, Meta Platforms CEO Mark Zuckerberg denied on Thursday local time that there is an excess of computing power, saying that Meta is currently making full use of all computing power resources. Zuckerberg said that in some cases, leasing computing resources or considering such transactions may make sense rather than internal use. Meta’s internal memo shows that the company plans to start mass production of its self-developed AI chip “Iris” in September this year. According to the plan, Meta will increase its overall computing power to 14 gigawatts in 2027, approximately double this year’s deployment scale. In addition, Meta launched its latest flagship model, Muse Spark 1.1, which surpassed the Google Gemini model in multiple test items such as agent capabilities, programming and multi-modality. Meta also launched a paid version for developers for the first time, priced at about a quarter of competing products. OpenAI launches ChatGPT Work Focus on complex corporate tasks On Thursday local time, OpenAI officially launched the GPT-5.6 series of models. This release includes three models: the flagship version Sol, the balanced version Terra, and the cost-effective Luna, which will be open to global users through ChatGPT, Codex and OpenAI API from now on. The series of models was first announced last month, but the first batch was only available to a "small group of trusted partners" at the request of the U.S. government. Company CEO Sam Altman said that GPT-5.6 Sol’s Token usage efficiency in agent programming tasks has increased by 54%. It is understood that the GPT-5.6 model is billed per million Tokens and covers three model specifications: the Sol version inputs $5/outputs $30; the Terra version inputs $2.5/outputs $15; the Luna version inputs $1/outputs $6. OpenAI also launched ChatGPT Work powered by GPT-5.6, an AI agent for more complex work tasks that can collect information across applications and files, generate documents, forms, slides, reports and websites, and can continue to process projects for hours when needed. (
This move is seen as a key step in Warsh's reshaping of the Fed's policy framework, focusing on five major directions: communication methods, balance sheets, economic data, AI productivity impact and inflation framework. The five task forces will each focus on the following areas: productivity, public communications, central bank asset portfolios, inflation drivers, and the quality of economic data used to guide policy decisions. Each task force is co-led by three external consultants. Warsh said the task force's goal is to put the Fed in the best position to achieve its goals, and each ad hoc working group will operate independently and be supported by Fed staff. In addition, the U.S. Department of Labor announced that the number of initial jobless claims in the United States dropped by 2,000 to 215,000 last week, slightly lower than market expectations of 218,000 and remaining near historical lows. However, the number of people continuing to apply for unemployment benefits in the previous week climbed to 1.814 million, a new high since March. SK Hynix U.S. IPO priced at $149 per share SK Hynix confirmed that its American Depository Receipts (ADRs) issuance guidance price has been set at US$149 per share, and the ADRs are expected to begin trading on Nasdaq on July 10. The IPO raised approximately US$26.5 billion and was oversubscribed by more than 7 times. The issuance attracted over 500 institutions to place orders, with subscription demand approaching US$200 billion. The top 25 customers accounted for approximately 67% of the total, and is expected to set a new record for the largest foreign company listed on the US stock market. Zuckerberg publicly denies “excess computing power” In the past two weeks, previously prosperous technology stocks have experienced a wave of violent fluctuations. Among them, Meta’s “essay” about “selling computing power” points to investors’ increasing hesitance about whether huge capital expenditures can produce huge returns. As a party involved, Meta Platforms CEO Mark Zuckerberg denied on Thursday local time that there is an excess of computing power, saying that Meta is currently making full use of all computing power resources. Zuckerberg said that in some cases, leasing computing resources or considering such transactions may make sense rather than internal use. Meta’s internal memo shows that the company plans to start mass production of its self-developed AI chip “Iris” in September this year. According to the plan, Meta will increase its overall computing power to 14 gigawatts in 2027, approximately double this year’s deployment scale. In addition, Meta launched its latest flagship model, Muse Spark 1.1, which surpassed the Google Gemini model in multiple test items such as agent capabilities, programming and multi-modality. Meta also launched a paid version for developers for the first time, priced at about a quarter of competing products. OpenAI launches ChatGPT Work Focus on complex corporate tasks On Thursday local time, OpenAI officially launched the GPT-5.6 series of models. This release includes three models: the flagship version Sol, the balanced version Terra, and the cost-effective Luna, which will be open to global users through ChatGPT, Codex and OpenAI API from now on. The series of models was first announced last month, but the first batch was only available to a "small group of trusted partners" at the request of the U.S. government. Company CEO Sam Altman said that GPT-5.6 Sol’s Token usage efficiency in agent programming tasks has increased by 54%. It is understood that the GPT-5.6 model is billed per million Tokens and covers three model specifications: the Sol version inputs $5/outputs $30; the Terra version inputs $2.5/outputs $15; the Luna version inputs $1/outputs $6. OpenAI also launched ChatGPT Work powered by GPT-5.6, an AI agent for more complex work tasks that can collect information across applications and files, generate documents, forms, slides, reports and websites, and can continue to process projects for hours when needed. (