5 Top Stories

Huang Sells NVDA; Bezos Sells AMZN

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Huang Sells NVDA; Bezos Sells AMZN

CEO Jensen Huang sold 1.3 million shares in Nvidia [NVDA] between 28 June and 2 July, Seeking Alpha reported, earning him some $169m. This is the first time Huang has sold shares in the firm this year; the stock has surged 155% year-to-date as of Wednesday. Elsewhere, Jeff Bezos has sold 25 million shares in Amazon, worth nearly $5bn. US Congresswoman Nancy Pelosi bought positions in Nvidia and Broadcom [AVGO] and changed her positions in Tesla [TSLA] and Visa [V] in June.

AWS Wins Australia Defence Contract

Amazon Web Services (AWS), Amazon’s [AMZN] cloud services division, has been awarded a A$2bn contract by the Australian government. This will involve building three data centres to enable secure information sharing with allies including the US and UK, for whom AWS already provides cloud computing services; it will also boost Australia’s ability to use artificial intelligence (AI) for data analysis. Defence Minister Richard Marles said the deal would “ensure we have a far more resilient, capable, lethal, modern and potent defence force in the future”.

Japanese Chipmaking Tool Sales to Grow 15%

The Semiconductor Equipment Association of Japan (SEAJ) on Thursday said it expects sales of chipmaking tools will increase 15% through March 2025, increasing its forecast to ¥4.25trn from ¥4.03trn. AI-related investment and a boost in spending in China were behind the outlook hike, SEAJ Chairman and Tokyo Electron [8035:T] President Toshiki Kawai told reporters Thursday. Elsewhere, Samsung Electronics [005930:KS] is predicted to report a 13-fold hike in Q2 profit, Reuters reported.

Minecraft: the Next Multimedia Universe?

Microsoft-owned [MSFT] Mojang Studios, the producer of Minecraft, is seeking to expand the revenue steam associated with the 15-year-old franchise behind one of the world’s best-selling video games. “Within our portfolio of experiences, we want to be able to cater to a lot of people,” Studio Head Åsa Bredin said in an interview on Thursday; a Warner Bros [WBD] movie and Netflix [NFLX] series are also in the pipeline.

Bitcoin Miner’s Expansion into AI Infrastructure

Hut 8 [HUT], one of North America’s largest bitcoin miners, has announced that it is on track to launch its new AI vertical in the second half of the year and generate revenue at a forecast annual rate of some $20m. Over half of the firm’s 1,000 Nvidia GPUs have already been configured for this purpose. A $150m investment from Coatue will go towards supporting the building of its next-generation AI infrastructure platform.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles