What you need to know today

Nvidia rebounds
Nvidia shares rose 3% on Thursday, recovering from a 7% drop in the previous session as Donald Trump’s comments on Taiwan raised geopolitical concerns.

Nvidia’s rise came after TSMC said demand remained high while supply was constrained for high-end AI chips, which TSMC manufactures for Nvidia.

The semiconductor sector had its worst day since 2020 on Wednesday, with AMD, Arm, Broadcom, and Qualcomm also declining. “While there is rising concern over geopolitical tension given the upcoming US presidential election, TSMC mentioned that it would continue its overseas expansion to mitigate the risks,” Citi analyst Laura Chen wrote in a note on Thursday.

Netflix beats
Netflix’s second-quarter earnings beat estimates as it solidified its dominance in the streaming market.

The company saw a 34% growth in ad-supported memberships and a 16.5% increase in global paid memberships to 278 million in the reported quarter. This growth, coupled with a crackdown on password sharing, boosted revenue by 17% to $9.6 billion.

Netflix raised its full-year revenue growth forecast to 14%-15% from 13% to 15%. Net income rose to $2.15 billion, or $4.88 a share.

While Ford intends to electrify the next generation of Super Duty trucks, specific details remain undisclosed.

This decision follows CEO Jim Farley’s recent remarks stating that full electrification of large vehicles like the Super Duty trucks was “never going to make money.”

Online sale record
Amazon’s Prime Day generated a record $14.2 billion in U.S. online spending, an 11% increase year on year, according to Adobe Analytics. Back-to-school shopping and consumer demand for new electronics drove the surge, contrasting with last year’s inflation-weary shoppers’ focus on household essentials.

Amazon highlighted the role of its AI shopping assistant, Rufus, in facilitating customer browsing.