Today’s Market Recap: Broadcom Plummets Over 12%, Weighing on the Chip Sector; Dow Hits New High Despite Market Trends; Bitcoin Approaches $61,000

Oil prices fell more than 3% amid pressure from multiple factors. International oil prices dropped significantly on Thursday due to a combination of factors, including progress in U.S.-Iran negotiations, signs of a ceasefire between Israel and Lebanon, and efforts by the U.S. Congress to limit the president’s war powers. WTI crude fell 3.5% to $92.67, while Brent crude dropped 3% to $95.17.

Anthropic cited high computing costs as the primary driver behind its IPO and called for a global pause in cutting-edge AI research and development. The co-founder and president of Anthropic PBC stated that training AI models is an extremely capital-intensive endeavor, and the public market is well-suited to provide financing for such operations. On the same day, Anthropic published an article revealing internal data showing that the capabilities of its state-of-the-art models are rapidly advancing, urging top AI labs to seriously consider slowing down their development pace. However, some market observers interpreted this as a marketing strategy.

Goldman Sachs（GS） estimates that SpaceX’s capital expenditures will reach $360 billion by 2028. Goldman Sachs analysts predict that SpaceX will burn through $350 billion in cash by 2030, with 80% of its capital expenditures allocated to artificial intelligence.

Microsoft（MSFT） CEO Satya Nadella admitted that overreliance on OpenAI had put the company at a disadvantage and believes traditional SaaS has reached a turning point. In a recent interview, he revealed that Microsoft is strengthening its underlying control in the AI era through its in-house MAI large model while retaining the dual benefits of its partnership with OpenAI. Amid a shortage of computing power, Microsoft has refused to sell GPUs to AI labs for “quick profits,” prioritizing enterprise customers and high-margin businesses instead. He also predicted that traditional SaaS will shift to a “subscription + pay-as-you-go” model and is betting on the synergy between AI agents and edge-cloud computing to create a new engine for future growth.

Jensen Huang is visiting South Korea for the second time in seven months, with an itinerary featuring an “all-star lineup” spanning business and entertainment. During his four-day stay in Seoul this week, he will host a barbecue dinner for the heads of the four major conglomerates, throw the first pitch at a baseball game, appear on a top-rated Korean variety show, and hold private meetings with executives from SK, Hyundai, and gaming and robotics startups. This visit underscores that South Korea is not only an indispensable upstream lifeline for NVIDIA but also a core testing ground for its bets on robotics and physical AI.

High expectations weigh on optical communications star; Ciena（CIEN） beats earnings estimates but stock drops over 10%. In the second quarter, Ciena’s revenue grew 40% year-over-year and EPS surged 290%, both exceeding expectations and accelerating growth; revenue guidance for the third quarter and the full fiscal year was above market expectations, with the midpoint of the full-year guidance at the high end of the previous range. However, due to the limited margin of outperformance, a lack of surprises, and third-quarter profit margin guidance remaining largely flat compared to the previous quarter, the market reaction was lukewarm.

The chart below lists the ten most actively traded stocks on Thursday. With their massive trading volumes and excellent liquidity, these assets have become key benchmarks for tracking global market dynamics.