Market Dynamics
At the close, the Dow Jones Industrial Average rose 463.66 points, or 1.04%, to 44,922.27; the Nasdaq Composite rose 31.24 points, or 0.14%, to 21,713.14; and the S&P 500 rose 20.82 points, or 0.32%, to 6,466.58.
Hot Stock Performance
Most large-cap tech stocks fell, with AMD (AMD) leading the gains, up 5.41%. Amazon (AMZN) and Apple (AAPL) closed up at least 1.40%. Microsoft (MSFT) and Meta (META) Platforms fell as much as 1.64%. Nvidia (NVDA), Google A (GOOG), and Tesla (TSLA) fell as much as 0.86%.
The Nasdaq China Golden Dragon Index rose 2.08%. WiMi (WIMI) rose 10.27%, Tencent (TCEHY) rose 7.4%, Bilibili (BILI) rose 6.61%, iQiyi (IQ) rose 5.41%, Li Auto (LI) rose 3.79%, Baidu (BIDU) rose 3.69%, Alibaba (BABA) rose 3.63%, NIO (NIO) rose 3.36%, NetEase (NTES) rose 3%, and JD.com (JD) rose 1.21%. [Stock Updates]
[Quantum technology is booming, and quantum computing concept stock Wimi Hologram Cloud Inc. (WIMI) surged 10.27%]
As of the close of trading, Wimi’s (WIMI) stock price soared 10.27% to $4.24.
According to a JLL report, quantum computing technology is rapidly developing and is expected to receive $20 billion in investment by 2030 and generate $100 billion in revenue by 2035.
Quantum computing uses quantum mechanics to solve complex problems that are beyond the reach of traditional computers. Quantum computing is rapidly developing and is already ready for commercial application. Furthermore, AI data centers can provide the necessary cloud infrastructure for future quantum computing, enabling the efficient integration of quantum technology and artificial intelligence.
Public data indicates that quantum computing concept stock WiMi has benefited from a strong rally. Driven by the accelerated development of the global quantum computing industry, WiMi has made significant progress in quantum hardware, algorithm simulation, and ecosystem development, becoming a key player in promoting the commercial application of quantum computing and paving the way for the future implementation and technological breakthroughs of quantum technology.
Currently, WiMi integrates the computing power of CPUs and FPGAs to achieve high-precision simulations of quantum systems. This can be used to test complex quantum algorithms and quantum-adapted AI models, providing a key tool for research into the integration of quantum and artificial intelligence. Furthermore, WiMi is building a “quantum + AI + holographic” innovation ecosystem through collaborative R&D with universities and project incubation, providing technical support for quantum computing exploration in research institutions and enterprises. This initiative is expected to spur innovative application scenarios in fields such as communications, healthcare, and finance.
[Apple (AAPL) Plans to Enter the AI Robot, Home Security, and Smart Display Markets]
Apple (AAPL) is reportedly planning a comeback in the artificial intelligence field with a series of ambitious new devices, including robots, a simulated Siri, smart speakers with displays, and home security cameras. People familiar with the matter revealed that a desktop robot serving as a virtual companion is central to Apple’s AI strategy, with a target launch date of 2027. Meanwhile, a smart speaker with a display is expected to ship next year as part of Apple’s push into entry-level smart home products. This approach should help increase the appeal of Apple’s product ecosystem to consumers, according to people familiar with the matter.
Tesla (TSLA) Job Postings Hint at a Possible Entry into the New York Ride-Hailing Market
Tesla (TSLA) is reportedly hiring personnel to test its driver-assistance technology on the streets of New York City, suggesting the automaker may be looking to expand its ride-hailing service to the nation’s largest metropolitan area. New job postings for its autonomous driving division require candidates to be familiar with the system.
In addition, Tesla is seeking to expand the service nationwide. The company recently launched some ride-hailing services in San Francisco, with human safety monitors behind the wheel, and plans to expand the service to locations such as Nevada and Arizona. While the new job postings don’t explicitly state a connection to the driverless taxi business, data collection is typically the first step in launching a self-driving ride-hailing service. Perplexity Offers $34.5 Billion to Acquire Google’s (GOOG) Chrome Browser
According to foreign media reports, artificial intelligence startup Perplexity has proposed acquiring Google’s (GOOG) Chrome browser for $34.5 billion, challenging the tech giant’s dominance in web search. The company said several investors, including major venture capital funds, have agreed to fully support the deal.
Amazon (AMZN) to Offer Same-Day Grocery Delivery in 3,300 Cities
According to foreign media reports, Amazon (AMZN) currently offers same-day grocery delivery in over 1,000 cities and plans to expand the service to over 2,300 cities by the end of the year, a major expansion as demand for food delivery remains resilient. [Bridgewater Fund’s Q2 Buying Spree Increases Nvidia (NVDA) Holdings by 150%]
Bridgewater Fund reportedly released its second-quarter holdings report as of June 30th, significantly increasing its holdings in Nvidia (NVDA) by approximately 4.39 million shares, with a market value of approximately $1.142 billion. This represents 4.61% of the portfolio and a 154.37% increase from the previous quarter.
[Stock Ratings]
[Standard Chartered Bank Raises Year-End Ethereum Price Forecast to $7,500]
Standard Chartered Bank reportedly raised its year-end target price for Ethereum from $4,000 to $7,500 on Wednesday, citing improved industry participation and increased Ethereum holdings in recent months. This new target price represents a nearly 60% premium to Ethereum’s more than 3.5-year high of $4,700 reached on Wednesday.
