On Thursday local time, the three major indexes of the US stock market fluctuated. The Dow Jones Industrial Average hit a new all-time high at the close, the S&P 500 index closed flat, and the Nasdaq closed down 0.23%.
Overnight, Nvidia fell 6.38%, with its market value evaporating nearly $200 billion in a single day, dragging down the performance of the Nasdaq and chip stock indexes. On the news front, on August 28th local time, Nvidia released its second quarter financial report for the 2025 fiscal year. Although the performance exceeded expectations and the next quarter's performance guidance also exceeded the average analyst expectations, it did not meet the most optimistic market expectations, causing a sharp drop in stock prices.
Analysis suggests that Nvidia's financial report did not meet market expectations this time, due to Nvidia's revenue guidance for the next quarter being far below market expectations, coupled with the company's acknowledgement of some production issues with Blackwell chips. Some people believe that the fundamental reason is the slowdown in the month on month growth rate of Nvidia data centers.
Apple, Nvidia, and Microsoft are all interested in joining OpenAI's new round of funding. According to foreign media reports, Apple is in talks to invest in OpenAI, and insiders also mentioned that Nvidia has discussed joining OpenAI's funding round. The day before, it was reported that OpenAI was in talks for a new round of financing, planning to raise billions of dollars at a valuation of over $100 billion. Venture capital firm Thrive Capital will invest in this round of financing, bringing the total investment to $1 billion. In addition, as OpenAI's largest shareholder, Microsoft will also participate in this round of financing.
The three major indexes have different ups and downs
Dow Jones Industrial Average hits new high
On Thursday local time, the three major indexes of the US stock market fluctuated. As of the close, the Dow Jones Industrial Average rose 243.63 points, or 0.59%, to 41335.05 points, setting a new closing high; The S&P 500 index closed flat at 5591.96 points; The Nasdaq fell 39.60 points, or 0.23%, to 17516.43 points.
In terms of macro data, the number of initial jobless claims in the United States for the week ending August 24th was 231000, with an expected 232000 and a previous value of 233000, easing market concerns about an economic recession. In addition, the growth rate of the US gross domestic product in the second quarter has been raised from the initial 2.8% to 3%, indicating that the economy still has resilience.
Large tech stocks have fluctuated, with Apple up 1.46%, Amazon up 0.77%, Netflix soaring 1.26%, Google down 0.66%, Facebook up 0.28%, Microsoft up 0.61%, Tesla up 0.26%, and Nvidia down 6.38%.
Chip stocks fluctuated, with Intel up 2.65%, Microchip Technology up 1.99%, Gexin up 1.48%, NXP Semiconductors up 0.76%, AMD down 0.59%, Broadcom down 0.79%, and Qualcomm down 1.37%.
Popular Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index up 2.63%, Gaotu Group up 17.41%, Noah Wealth up 14.46%, Yaduo up 13.32%, BOSS Zhipin up 12.51%, Dingdong Maicai up 8.29%, Jike up 7.35%, Miniso up 6.32%, and Huazhu up 6.2%; In terms of decline, Bit Digital fell 3% and New Oriental fell 2.64%. China's new energy vehicle stocks collectively rose, with NIO up 6.32%, Xiaopeng Motors up 8.1%, and Ideal Motors up 10.62%.
Nvidia's market value evaporated by nearly $200 billion in a single day
Overnight, Nvidia's stock price plummeted by 6.38%, and its market value evaporated by nearly $200 billion in a single day. On the news front, on August 28th local time, Nvidia released its second quarter financial report for the 2025 fiscal year. Although the performance exceeded expectations and the next quarter's performance guidance also exceeded the average analyst expectations, it did not meet the most optimistic market expectations, causing a sharp drop in stock prices.
According to the financial report, Nvidia achieved a revenue of $30.04 billion during the reporting period, a year-on-year increase of 122%, higher than the market expectation of $28.668 billion; Net profit of 16.599 billion US dollars; The non GAAP diluted earnings per share is $0.68. The company predicts that its revenue for the third quarter of fiscal year 2025 will reach $32.5 billion, with a fluctuation of 2%, higher than the market average expectation of $31.9 billion, but significantly lower than the highest expectation of $37.9 billion.
After the release of the financial report, Nvidia's stock price quickly fell, with a drop of over 8% on Wednesday after hours local time, and continued to decline on Thursday local time. Some analysts believe that the reason why Nvidia's financial report did not meet market expectations this time is due to Nvidia's revenue guidance for the next quarter being far below market expectations, coupled with the company's acknowledgement of some production issues with Blackwell chips. Some people believe that the fundamental reason is the slowdown in the month on month growth rate of Nvidia data centers.
However, Wall Street investment banks still hold high expectations for Nvidia. Morgan Stanley analyst Shawn Kim and others stated, "Nvidia's Q2 performance met expectations, there were no doubts about demand, and the forward guidance was positive." Overall, its performance was good, but "market expectations for Nvidia were too high.
Goldman Sachs analyst Toshiya Hari and others said that although the gross profit rate of Nvidia in the fourth fiscal quarter (the first quarter of natural year 2025) is expected to be less than 70%, and the company's growing operating expenditure budget will promote the re pricing of the market's gross profit rate expectations in the future fiscal year, they still have a constructive attitude towards the revenue prospects of Nvidia's data center, which covers cloud services, consumer Internet and enterprise customers, as well as training and reasoning workloads.
Barclays analyst Tom O'Malley and others stated that although the performance guidance did not exceed the consensus expectation of $2 billion as before, with lower gross margins and higher operating expenses, concerns about Blackwell's delays have been resolved, and it is expected that there will be billions of dollars in revenue in the fourth quarter, with Hooper continuing to grow by the end of the year.
Apple, Nvidia, and Microsoft are interested in participating in OpenAI's new round of financing
Apple, Nvidia, and Microsoft are all interested in joining OpenAI's new round of funding, which will enable OpenAI to achieve a valuation of over $100 billion.
On Thursday local time, according to foreign media reports, Apple is in talks to invest in OpenAI, a move that could solidify key relationships with its AI partners and make progress in the AI race. Previously, Apple announced a partnership with OpenAI to integrate ChatGPT into its ecosystem. Insiders also mentioned that Nvidia has discussed joining OpenAI's funding round.
The day before, it was reported that OpenAI was in talks for a new round of financing, planning to raise billions of dollars at a valuation of over $100 billion. Venture capital firm Thrive Capital will invest in this round of financing, bringing the total investment to $1 billion. In addition, as OpenAI's largest shareholder, Microsoft will also participate in this round of financing.
It is currently unclear how much money Apple, Microsoft, and Nvidia plan to invest. If the news is true and progress is made in the discussion, it may mean that all three of the world's most valuable companies will become shareholders of OpenAI.
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