In the early morning of the 30th, Beijing time, US stocks closed higher on Tuesday. All three major stock indexes recorded gains for the third consecutive trading day, and large technology stocks generally rose. Investors are watching the performance of US stocks in the last few trading days of August and awaiting key economic data such as the PCE consumer price index and non-farm payrolls.

Nvidia, number one in US stock turnover, closed 4.16% higher on Tuesday, and its stock price reached a record high of US$33.613 billion. Google Cloud and Nvidia announced an expanded partnership to advance the development of artificial intelligence computing, software, and services. Google's new supercomputer A100 GPU with Nvidia H3 GPU will go on sale on a large scale in September.

Driven by the above news, Google A Shares (GOOGL) closed 2.72% higher and traded US$5.53 billion, making it the 6th largest US stock turnover today. Google (GOOG) closed 2.81% higher and traded US$4.15 billion, ranking 9th in US stock turnover today.

Second place, Tesla closed 7.69% higher, with a transaction of US$33.324 billion. According to media reports, Tesla's driver assistance system Autopilot is facing increasing scrutiny from federal regulators. The US National Highway Traffic Safety Administration said it is aware that Tesla “introduced an autopilot configuration that, when enabled, allows drivers using the autopilot to drive the vehicle for a long time without the autopilot prompting the driver to apply actions to the steering wheel.” The agency asked Tesla to respond by August 25 to explain whether the feature might disrupt drivers' efforts to stay alert and prepare to regain full control of the vehicle, and Tesla did not immediately respond to requests for comment.

According to another report, social media X, formerly known as Twitter, obtained the “Rhode Island State Coin Transfer License” required to conduct a crypto asset exchange.

Rhode Island license holders can control and trade virtual currency on behalf of others. This type of license is usually granted to businesses that provide crypto-related services, such as cryptocurrency exchanges, wallets, and payment processors. With the platform being licensed, over 400 million users can now trade cryptocurrencies directly. This will give a huge boost to cryptocurrency adoption, particularly as governments around the world are increasingly accepting this new form of money.

Apple, which ranked third, closed 2.18% higher, with a transaction of 9.583 billion US dollars. Apple has set September 12 as the biggest product upgrade release date of the year. At that time, it will launch the iPhone 15 series and a new generation of smartwatches.

The company announced the event called “Wonderlust” through its official website and email. It will be broadcast online and offline simultaneously. The venue will be the Jobs Theater in Cupertino, California. The webcast will begin at 10 a.m. Pacific time.

Fourth-ranked Microsoft closed 1.44% higher, with a transaction of US$6.231 billion. UBS released a research report and gave Microsoft a “buy” rating. The target price is $400, saying that software companies such as Microsoft face risks in GPU supply, which may affect their ability to generate AI revenue streams next year. Keirstead pointed out that Microsoft said in July that it plans to spend about 50 billion US dollars in fiscal year 2024, which shows important AI capacity building. Although the financial report released by Nvidia last week gave people more peace of mind that it is solving its supply chain problems, this is still a risk for Microsoft, and investors need to thoroughly evaluate and measure. The GPU capacity bottleneck is a reality, not a hypothetical, low-probability “black swan event.”

Fifth place Meta Platforms closed 2.66% higher, with a transaction of US$5.955 billion.

7th place, AMD closed 3.23% higher, with a transaction of US$5.322 billion. Citi said a few days ago that semiconductor stocks such as AMD and Intel are under pressure, but they will improve in 2024.

Amazon, which ranked 8th, closed 1.33% higher, with a transaction of $5.152 billion. Brokerage firm Wedbush published a research report saying that the tech stock bull market is not over yet, and advises investors to stabilize stocks of tech giants such as Amazon.

11th place, Pinduoduo closed with a sharp rise of 15.43%, with a transaction of US$3.25 billion. Pinduoduo's total revenue for the second quarter was 52.280.7 billion yuan (US$7.209.8 billion), an increase of 66.3% compared to 31,4396 billion yuan in the same period in 2022. Net profit attributable to common shareholders of Pinduoduo was 13.108.1 billion yuan (US$1,807.7 billion), an increase of 47% compared with net profit of 8.896.3 billion yuan for the same period in 2022. Excluding US General Accounting Standards (Non-GAAP), net profit attributable to Pinduoduo's common shareholders was 15.269.4 billion yuan (US$2,105.7 billion), an increase of 42% compared with net profit of 10.776.3 billion yuan for the same period in 2022.

Broadcom, ranked 12th, closed 3.35% higher, with a transaction of US$2,445 billion. Sources said Qualcomm, Broadcom, and MediaTek are all seeking to accelerate the transition to new standards, and are all expected to launch new products supporting Wi-Fi 7 in 2024, which will help to gently boost demand for PA chips.

Coinbase, ranked 14th, closed 14.91% higher, with a transaction of US$1,994 million. US cryptocurrency concept stocks rose on Tuesday. Earlier, it was reported that Grayscale Investments' plan to launch the first US Bitcoin exchange-traded fund (ETF) was upheld by a federal court. The appellate court overturned the US Securities and Exchange Commission (SEC)'s decision to block the ETF from being issued.

Alibaba, which ranked 16th, closed 1.94% higher, with a transaction of US$1,555 billion.

The 17th ranked Oracle closed 3.26% higher, with a transaction of US$1.38 billion. UBS analyst Karl Keirstead raised Oracle's rating from “neutral” to “buy,” and raised the target price from $120 to $140. Analysts note that AI startups appear to be increasing their use of Oracle Cloud infrastructure. Oracle is hosting its annual CloudWorld event and Investor Day next month, which could be “constructive.” Analysts pointed out that a price-earnings ratio of 20 times “doesn't seem sufficient”; less than 40% of sell-side analysts gave Oracle a “buy” rating, and most analysts are still wary of Oracle.

NIO, ranked 19th, closed down 1.18% and traded US$1,276 million. NIO's total revenue for the second quarter was 8.771.7 billion yuan (US$1,209.7 billion), down 14.8% from the second quarter of 2022 and 17.8% from the first quarter of 2023. Net loss was 6,055.8 million yuan (approximately US$835.1 million), an increase of 119.6% compared to the second quarter of 2022, and an increase of 27.8% compared to the first quarter of 2023. Excluding equity incentive expenses (not in accordance with US GAAP), the adjusted net loss was 5,445.7 billion yuan (approximately US$751 million), an increase of 140.2% compared to the second quarter of 2022 and an increase of 31.2% compared to the first quarter of 2023.

The following are the 20 most actively traded US stocks on the same day (by turnover):