US Stocks Close: Nasdaq Gains 0.54%; Memory Stocks Lead Gains, SK Hynix, SpaceX Rise 9%

SpaceX (SPCX) touched $149.6 intraday and closed at $146.27, up 9.74%.

SpaceXAI released its next-generation large model, Grok 4.6. SpaceXAI stated that the new model achieves significant improvements compared to Grok 4.5, with a focus on enhancing long-running agents, complex programming, knowledge work, as well as interactive and visual task capabilities.

SK Hynix (SKHY) rose 9.01% to close at $154.41.

Temasek plans to directly inject capital into two chipmakers—Samsung Electronics and SK Hynix—through its internal investment team, and is currently assessing the timing for entry. Homin Lee, senior macro strategist at Lombard Odier Singapore, said: "This suggests that long-term investors' interest in South Korea's deeply undervalued semiconductor sector is heating up. If retail-driven volatility stabilizes, more aggressive foreign institutions are likely to view such core targets as positioning opportunities."

Among mega-cap tech stocks, SpaceX (SPCX) rose 9.74%, Micron Technology (MU) rose 4.92%, Nvidia (NVDA) rose 3.03%, and Eli Lilly (LLY) rose 0.43%; decliners (from high to low): Meta Platforms (META) fell 3.38%, Microsoft (MSFT) fell 2.26%, Amazon (AMZN) fell 1.83%, Tesla (TSLA) fell 1.59%, Apple (AAPL) fell 0.87%, Alphabet (GOOG) fell 0.18%, and Broadcom (AVGO) fell 0.01%.

[Source: TradingView]

The Philadelphia Semiconductor Index rose 2.49% to 12,399.38 points. Among its 30 constituents, 25 rose and 5 fell.

Among memory stocks, SK Hynix (SKHY) rose 9.01%, Seagate Technology (STX) rose 7.03%, SanDisk (SNDK) rose 5.76%, Micron Technology (MU) rose 4.92%, and Western Digital (WDC) rose 3.69%.

Apple Hires Veteran American Airlines Executive as Head of Government Affairs

Apple has hired Nate Gatten as its new head of government affairs, tapping the veteran American Airlines Group executive with close ties to the Republican Party for a sensitive role at the company. Jennifer Newstead, Apple's senior vice president and general counsel, stated that Gatten will assume the role of vice president of government affairs on August 31. Kate Adams, the former head of legal affairs who previously served as Apple's senior vice president and head of government affairs, will remain as an advisor through October 1.

SpaceXAI Officially Launches Grok 4.6

SpaceXAI has officially launched Grok 4.6, doubling down on long-running agents, complex programming, and knowledge-work scenarios. Upgraded from Grok 4.5, the model focuses on enhancing sustained execution capabilities for multi-step tasks, and can be used for thematic research, information analysis, cross-codebase collaboration, and transforming product ideas into executable applications or deliverables. SpaceXAI stated that Grok 4.6 underwent a longer period of supplementary training, with training data covering reasoning, advanced technical concepts, and high-quality engineering content. It subsequently covered various agent reinforcement learning tasks, including knowledge work, general programming, kernel optimization, web development, and computer-aided design.

Google Unveils Next-Generation Pixel Smartphones

Google has released its latest generation of Pixel smartphones, featuring minor hardware and design upgrades. The new lineup includes the Pixel 11 Pro XL, starting at $1,299; the Pixel 11 Pro, starting at $1,099; and the Pixel 11, at $899. Additionally, there is the foldable Pixel 11 Pro Fold, starting at $1,899. The new devices introduce genuine new features, such as "HiLight," which transforms the camera flash into a more practical notification indicator light. They also include practical improvements like enhanced scratch resistance and screen brightness. Impacted by unprecedented supply tightness in memory chips, starting prices for these smartphones have all increased by $100 compared with last year.

Google Reportedly Restructures Unit to Go All-In on Gemini

According to media reports, Alphabet is making major leadership adjustments at Google DeepMind, with some teams moving from DeepMind into Google's corporate structure, further weakening DeepMind's autonomy. Sources said Google co-founder Sergey Brin has urged core AI staff in recent months to go "all-in" on the Gemini model and push forward R&D in AI directions such as "recursive self-improvement." Following the reshuffle, DeepMind head Demis Hassabis will transition to chairman, while his deputy, Koray Kavukcuoglu, will assume leadership responsibilities. Google stated that Kavukcuoglu will have final decision-making authority over major DeepMind decisions. Sources said Google has delayed the launch of the new flagship Gemini model by two months, as internal testing showed it still lags behind competitors in areas such as coding. Analysts believe Alphabet's restructuring aims to accelerate AI commercialization and regain its competitive edge in models, though some employees worry that DeepMind's long-term scientific research autonomy may be further diminished.

JPMorgan: Inflation Will Slowly Recede, Fed Has No Need to Raise Rates

JPMorgan Asset Management's chief global strategist said the Fed should leave interest rates unchanged and expects inflation to gradually ease as growing evidence shows a persistent wage-price spiral will not form. Following the release of the July Consumer Price Index, David Kelly stated, "The Fed should absolutely stand pat, and I actually think they will." The report showed US core inflation remained mild in July, extending a rally in US Treasuries after the news. Kelly pointed out that three forces are working together to cool inflation noticeably: tariff costs will decline on a year-over-year basis; oil prices will retreat on market optimism that the war with Iran will end; and wage growth continues to lag inflation. He added that the final point weakens the momentum required for price pressures to form a self-reinforcing cycle, meaning there is no need for the Fed to curb inflation through rate hikes. Kelly noted that leverage in financial markets is currently high, and even a modest rate hike could trigger a repricing of assets.

US July Core Inflation Subdued, Easing Pressure on Fed to Raise Rates

Data released by the US Bureau of Labor Statistics showed that core CPI, which excludes volatile food and energy categories, rose 0.2% month-over-month in July. The year-over-year increase was 2.5%, matching the lowest pace since March 2021. Overall, headline CPI rose 0.1% month-over-month and 3.4% year-over-year in July. The report indicates that the energy price shock stemming from the war with Iran continued to fade in July. As the Fed deliberates whether to raise rates at its September meeting, these data may give the Fed more room to weigh inflation pressures against the recent slowdown in hiring.

Trump: US Has Total Control Over Strait of Hormuz

US President Donald Trump said in a recent post: "The US has total control over the Strait of Hormuz. I think we will continue to maintain control! Our naval blockade is called a 'wall of steel' by everyone, and Iran can do nothing about it. They have no Navy, no Air Force, their remaining soldiers are not being paid, the Revolutionary Guard has been severely battered and is in rout, and their 'leadership' is uncertain at best! They have no money—this country is 'riddled with holes.' All they have is Fake News and 300% inflation, and it's getting worse! Iran is now all talk and no action, no longer the bully of the Middle East!"

This content was translated using AI and reviewed for clarity. It is for informational purposes only.