Andy Chen

TradingKey - On June 3, AI chip stocks led market gains. As of press time, Intel (INTC) rose 5.70%, Qualcomm (QCOM) 4.09%, AMD (AMD) 2.53%, and Broadcom (AVGO) 0.94%. The primary driver for AI chip stocks outperforming the broader market is the structural reconfiguration of the computing power industry chain in the AI Agent era. CPUs have evolved from traditional auxiliary roles to become the control hubs of agent systems, emerging as a new core bottleneck for large-scale AI deployment. This shift has fueled explosive growth in global CPU demand. Notably, the number of CPUs per AI server is increasing significantly; while the traditional GPU-to-CPU ratio was 8:1, Intel indicated that the ratio is expected to move toward 1:1 in the future.

TradingKey - On June 2 (ET), the COMPUTEX event in Taipei fueled market sentiment for artificial intelligence investments, as US tech stocks extended their recent rally and all three major US indices reached record closing highs. By the close, the Dow Jones Industrial Average rose 0.45% to 51,307.79 points; the S&P 500 Index edged up 0.13% to 7,609.78 points; and the Nasdaq Composite Index added 0.03% to 27,093.9 points.

TradingKey - SpaceX plans to list on Nasdaq on June 12, with less than two weeks remaining before the debut of what is set to be the largest IPO in history. According to recent media reports, SpaceX could be included in the Nasdaq 100 Index as early as July. With a fundraising cap of $75 billion, its market capitalization post-listing may surpass that of Tesla. Supported by the high-growth sectors of AI and aerospace, SpaceX was initially expected to achieve an ultra-high market valuation. However, valuation targets were lowered following the disclosure of its prospectus. When SpaceX filed for a confidential IPO in early April, market valuations reached as high as $2 trillion. Following the prospectus disclosure, latest reports indicate the company's current target valuation has been revised down to $1.8 trillion, a $200 billion reduction from the $2 trillion valuation previously reported by Bloomberg.

TradingKey - On June 2, Marvell Technology (MRVL) shares hit a high of $277.22, marking a new all-time high. As of press time, the stock was up 23.65% at $271.33. During a speech at Computex Taipei, Marvell Chairman and CEO Matt Murphy stated that the development of AI infrastructure is following a clear evolutionary path where "bottlenecks emerge and are resolved sequentially." The first stage was the computing power bottleneck, led by NVIDIA, which became the first company in the world to surpass a $5 trillion market capitalization. The second stage was the memory bottleneck, which recently saw the emergence of three new trillion-dollar market cap companies in the memory sector. The industry is currently in the third stage, where connectivity has become the core bottleneck restricting the further scaling of AI infrastructure.

TradingKey — Hewlett Packard Enterprise (HPE) shares surged over 38% in after-hours trading following the release of its second-quarter fiscal year 2026 earnings report, which showed growth in both revenue and profit. As of press time, the stock remains up 37.09% at $64.43. Following Dell Technologies' (DELL) release of robust financial results last week that significantly exceeded market expectations and drove a collective rally in the global technology hardware sector, market expectations for HPE's performance were exceptionally high.

Tradingkey - On June 1, SpaceX updated its S-1 filing with the U.S. Securities and Exchange Commission. In the latest IPO filing, SpaceX for the first time listed water scarcity as a core risk factor, warning investors that these critical resources could constrain the development of its AI business. SpaceX noted that the company’s ability to deliver AI products at scale is highly dependent on the stable operation of its integrated ground and orbital AI computing infrastructure. The continuous functioning of this infrastructure requires a stable supply of power, water, specialized AI processors, core components, and telecommunications services.

Tradingkey - The race for AI industry listings has reached a fever pitch. Latest reports indicate that Anthropic has confidentially submitted a draft registration statement for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC), aiming to go public as early as this autumn. Anthropic stated on its official blog that the number of shares to be offered and the price range for the proposed offering have not yet been determined.

Tradingkey - On June 1, the three major US stock indices closed mixed as sector-level divergence further intensified. NVIDIA CEO Jensen Huang announced at the GTC conference that the company's next-generation AI computing platform, Vera Rubin, has entered full-scale mass production. This news furthe

Tradingkey - Geopolitical tensions between the U.S. and Iran have escalated sharply as Iran announced a total blockade of the Strait of Hormuz and the suspension of all negotiations with the U.S., sending the two major crude oil futures back to one-week highs. According to Iranian media reports, the Iranian negotiating delegation has suspended indirect negotiations and document exchanges with the U.S. via mediators, citing Israel's continuous strikes on Lebanon and cease-fire violations across all fronts. Simultaneously, Iran decided to fully blockade the Strait of Hormuz and activate other fronts, including the Bab-el-Mandeb Strait.

Tradingkey - Broadcom (AVGO) will release its fiscal second quarter 2026 earnings report after the U.S. market close on June 3, 2026, Eastern Time. As a leading global provider of AI infrastructure chips and private cloud software platform services, the company has benefited from the accelerated construction of data centers and the continued surge in demand for custom AI chips. Since the release of its previous quarterly results, Broadcom's share price has risen by approximately 36%, significantly outperforming the S&P 500 over the same period.

Tradingkey - The Iran-US conflict has disrupted global oil and gas production by interrupting supply chains and damaging oil supply lines and pipeline infrastructures due to ongoing hostilities.According to the Energy Information Administration, in April, Iraq, Saudi Arabia, Kuwait, the United Arab

Tradingkey - The U.S. aerospace industry suffered a major setback as space sector stocks came under broad pressure, with AST SpaceMobile (ASTS) tumbling 14.57%. According to media reports, Blue Origin’s New Glenn uncrewed rocket experienced a catastrophic explosion on the launch pad at Cape Canaveral Space Force Station on Thursday night, causing severe damage to the company’s only launch facility.

Tradingkey - On May 29, the board of directors of Universal Music Group, the world's largest music company, issued a statement officially rejecting a $65 billion all-cash acquisition proposal from billionaire Bill Ackman and his firm, Pershing Square Capital Management. The board explicitly stated that the transaction "is not in the best interests of Universal Music Group, its shareholders, artists, songwriters, employees, and all other stakeholders."

Tradingkey - On May 29, the U.S. cryptocurrency industry achieved a milestone regulatory breakthrough. Cryptocurrency exchange Coinbase (COIN) and prediction market platform Kalshi jointly announced on Friday the official launch of cryptocurrency perpetual contract products. This marks the first time in U.S. history that investors are permitted to trade perpetual futures contracts through domestic, licensed, and regulated exchanges. The product launch received official listing approval from the Commodity Futures Trading Commission (CFTC), signifying that crypto perpetual futures, which had long resided in a regulatory gray area, are now formally integrated into the U.S. domestic financial regulatory system, establishing a clear framework for onshore trading rules.

Tradingkey - U.S. President Trump announced Friday that he will issue a final ruling on a preliminary agreement previously reached by U.S. and Iranian negotiators.

Tradingkey - On May 29, all three major U.S. indices moved higher. However, a subtle shift is occurring within the market that many have yet to notice: capital is quietly rotating into the AI application sector, which features lower valuations and healthier positioning. Since the start of the year,

Tradingkey - On May 28, the Trump administration introduced a new round of industrial support policies. Diverging from the previous focus on the semiconductor sector, the emphasis of this policy has shifted to the drone industry. Buoyed by the positive news, the drone sector rallied across the board today. By the close, Unusual Machines (UMAC) surged 57.20%, Red Cat Holdings (RCAT) rose 32.61%, AEVEX Corp (AVEX) climbed 31.13%, and Ondas (ONDS) gained 22.69%.

Tradingkey - On May 28, Anthropic released its latest flagship AI model, Claude Opus 4.8, an upgraded version based on its flagship Opus 4.7. According to Anthropic’s official data, Opus 4.8 leads in several AI-centric synthetic benchmarks, outperforming OpenAI’s ChatGPT-5.5 and Google’s (GOOGL) Gemini 3.1 Pro.

Tradingkey - On May 28, the final set of U.S. economic data for April was released, further confirming that inflation is spreading across a broader range of sectors. This has also solidified market expectations that the Federal Reserve will not cut interest rates this year. Recent hawkish remarks from Fed officials further indicate that the AI boom cannot be expected to resolve inflationary pressures.

Tradingkey - On May 28, U.S. government officials reported a new ceasefire agreement reached between the U.S. and Iran. Influenced by this major geopolitical news, trading volumes across major global asset markets saw a significant expansion during the day. All three major U.S. stock index futures turned from gains to losses. As of press time, Dow Jones futures rose 0.02%, S&P 500 futures rose 0.23%, and Nasdaq 100 futures rose 0.39%. Spot gold surged in the short term, rising by more than $100; as of press time, it was up 0.14% at $4,452. The two major crude oil futures fell before rebounding; as of press time, WTI crude oil futures rose 0.36% to $89, while Brent crude oil futures rose 0.21% to $94.49.