On Thursday, Nvidia, the top trading volume in the US stock market, fell by 3.70%, with a turnover of $46.925 billion. Former Google CEO Schmidt recently stated that large tech companies are planning to increase investment in Nvidia-based AI datacenters, with construction costs potentially reaching $300 billion. Schmidt said: "I am talking to big companies, and these big companies tell me that they need $20 billion, $50 billion, $100 billion - very, very challenging."

Schmidt said, "If $300 billion flows to Nvidia, you know what to do in the stock market. This is not a stock recommendation." Schmidt did not disclose whether he holds Nvidia stocks.

Schmidt said: "If $300 billion flows to Nvidia, you know what to do in the stock market. This is not stock advice." Schmidt did not disclose whether he holds Nvidia stocks.

Tesla, ranked 2nd, fell by 5.65%, with a turnover of $17.145 billion. Various signs indicate that while the world's richest man, Musk, is enthusiastic about rockets, AI, and actively participating in US elections, executives who have fought alongside him for over a decade to build the Tesla automotive empire are leaving the company one after another in search of new challenges.

The latest case is Tesla's Vice President of Finance and Operations, Sreela Venkataratnam. On Wednesday, she posted on a professional social media platform that she had left the company after 11 years at Tesla.

Venkataratnam recalled that she joined Tesla as Director of Finance and Operations in 2013. At that time, the company could only deliver less than 3,000 cars a year, with a market cap of only $4 billion. Now the car delivery volume has reached 1.8 million units, and the market cap has reached $700 billion.

As a Tesla executive, Venkataratnam was involved in increasing the production capacity and global expansion of Model S, Model X, Model 3, Model Y, and Cybertruck, as well as the growth of new energy products.

Apple, ranked 3rd, fell by 0.83%, with a turnover of $9.535 billion. Apple stated that it is making changes to browser choice screens, default app preferences, and app deletion features for EU iOS and iPadOS users to comply with the requirements of the EU Commission's Digital Markets Act.

Apple said that all EU users who set Safari as their default browser will see an updated selection screen. The Settings of certain iOS users will include a Default Apps section. More default apps such as the App Store, Messages, Photos, Camera, and Safari can now be deleted.

According to reports, Apple will make major adjustments to its App Store business. Apple's Vice President Matt Fischer, who has been in charge of the App Store business for 14 years, will depart in October this year, and the App Store team will be divided into two departments.

The two departments after the split will be responsible for managing Apple's own App Store and the distribution channels of third-party applications. The two new leaders are senior executives from the original App Store team.

The App Store is one of Apple's most profitable businesses, generating $20 billion in profit for Apple each year. Its software services business, which has a gross margin of around 70%, is nearly double that of Apple's hardware gross margin. This business is particularly important for Apple in the context of stagnant hardware sales growth.

Microsoft fell 2.03% to $7.823 billion in turnover. Microsoft adjusted the structure of its Azure cloud division and accordingly lowered its revenue growth expectations.

On Thursday, there were reports that Microsoft is transferring Office business products and cloud services, Power BI, and other businesses that originally belonged to Azure to the Productivity and Business Processes division. As a result, the revenue outlook for Productivity and Business Processes has been raised to $27.75 billion to $28.05 billion, while the revenue outlook for Intelligent Cloud has been lowered to $23.8 billion to $24.1 billion.

Microsoft suddenly announced a restructuring of its business divisions and updated the revenue outlook for the respective divisions to reflect this change, including an increase in revenue for Productivity and Business Processes and a decrease in revenue outlook for Intelligent Cloud.

Meta Platforms fell 0.60% to $7.697 billion in turnover. The company launched a new web crawler program, META-External Agent and Meta-External Fetcher, to collect internet data for training its AI models. This program bypasses the robots.txt rules, allowing unrestricted data collection.

AMD, ranked 6th, fell 3.87%, with a turnover of $7.027 billion. AMD released a community blog on Wednesday, stating that they are working on a new Windows 11 24H2 performance patch to further improve the performance of the Ryzen 9000 series processors. After releasing the Ryzen 9000 series desktop processors based on Zen 5, AMD claims that the instructions executed per clock cycle have been improved by 16%.

Amazon, ranked 7th, fell 2.21%, with a turnover of $5.628 billion. Amazon has added an annual plan for Prime members and extended its discounted subscription to all Prime Access members, expanding its subscription service for general merchandise delivery. According to a press release from Amazon on Wednesday (August 21), these new products build on the success of the general merchandise subscription since its launch in April.

Amazon stated in the press release, "Since the launch, we continue to see strong growth in general merchandise subscription registrations and positive customer feedback. Subscriptions bring immediate value to users as they save on general merchandise delivery fees and make their shopping experience for general merchandise more convenient."

According to the press release, through the subscription, orders worth over $35 from channels such as Amazon Fresh, Whole Foods Market, and Amazon.com can enjoy unlimited general merchandise delivery. This service has been launched in 3,500 towns in the United States.

Snowflake, ranked 9th, fell 14.70%, with a turnover of $4.384 billion. Snowflake's second-quarter revenue was $869 million, exceeding analysts' expectations of $850 million; the loss per share was $0.95, compared to a loss of $0.69 in the same period last year, expanding the loss, with analysts expecting a loss of $0.89. As for guidance, the company expects full-year product revenue of $3.36 billion, higher than the previous forecast of $3.3 billion and analysts' expectations of $3.33 billion; but reiterates the expected full-year adjusted operating margin of 3%.

D.A. Davidson analyst Gil Luria pointed out that the company did not combine the upward revision of revenue expectations with the upward revision of profit margin expectations.

In addition, market observers pointed out that Berkshire Hathaway, Warren Buffett's company, liquidated its Snowflake stocks in the second quarter of 2024, which eliminated one of the strongest reasons for investors to continue holding Snowflake.

Eli Lilly, ranked 12th, rose 0.23%, with a turnover of $3.045 billion. The latest three-year research data released by Eli Lilly shows that the GLP-1 weight-loss drug tirzepatide can reduce the risk of diabetes in obese patients by 94%.

Micron ranked 15th, fell 3.76%, with a turnover of $1.902 billion.

Intel, ranked 17th, fell 6.12%, with a turnover of $1.661 billion. Intel confirmed on Thursday that Lip Bu Tan is stepping down from the company's board of directors.

Lip Bu Tan is a veteran in the chip industry and was hired two years ago to help this chip manufacturer recover. He will now resign from the board of directors. Lip Bu Tan previously served as CEO of Cadence Design Systems Inc. and also operates an investment company. He was elected to the Intel board of directors in September 2022 and was appointed a member of the Intel M&A Committee.

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