Analysis

NVDA Q1: Revenue $81.6B (+85%, beat), Data Center $75.2B (+92%). Q2 guidance $91B (no China compute). SB Energy $1.5B invest, $105B lease guarantee, 4.25 GW Ohio. Vera Rubin in production. H200 China shipments begun. $500B financing platform. Aug 26 earnings. Stock near $217.56.

TradingKey - As of the US market close on August 20, Eastern Time, SpaceX (SPCX) stock weakened again, falling 4.05% on the day to $134 after touching an intraday low of $130.39, dropping back below its $135 IPO issue price. Over the past three weeks, SPCX shares had rebounded from near $105 to $150, but came under pressure and pulled back below $150 this week, indicating that the rally from the late-July low is facing pressure once again.

SNDK Q4: Revenue $8.97B (+51% seq), EPS $39.25 (beat $34.37). Q1 guidance $10.3-10.8B (MISS 11.16B). Gross margin 84.6% record. NBM $93.9B contract value. Investor Day Aug 13 targets 80% margin, double-digit growth. Stock up 591% YTD. Technical $1,511.88 pivot.

Coinbase briefly broke above $180, with the potential to rise a further 22% if it can hold this level.

TradingKey - On Friday, August 21, Eastern Time, futures on the three major U.S. stock indices rebounded in pre-market trading as the market attempted to recover from the sell-off in the previous session triggered by rising bond yields and weak retail stocks. Bitcoin extended its strength and sentiment toward tech stocks recovered slightly; however, as the 10-year U.S. Treasury yield neared 4.7% again, combined with Middle East tensions and the approaching Jackson Hole Economic Symposium next week, overall market sentiment remains cautious.

WMT Q2: Revenue $187.9B (+5.9%, beat), EPS $0.81 (+19%, beat). US comps 2.6% (MISS). Pharmacy headwind 125 bps. E-com 23%. Ads +38%. Guidance raised. Stock -9% to $103.50. Support $102.85. Fuel +$2B.

TradingKey - On August 21, US Eastern Time, according to a Bloomberg report citing people familiar with the matter, Nvidia (NVDA) is in early-stage talks with South Korean AI chip design company Rebellions, exploring potential collaboration ranging from technology licensing and equity investment to a full acquisition.

TradingKey - The IPO race between OpenAI and Anthropic has entered a critical phase. With both companies experiencing rapid revenue growth and steadily rising valuations, which firm will be the first to list on the US stock market and command a higher valuation has become a major focal point for the tech capital market in 2026. So, in this IPO race, who will ultimately emerge as the winner between OpenAI and Anthropic?

TradingKey - Broadcom (AVGO) is in talks with multiple lenders to raise more than $60 billion in debt to support chip procurement and computing infrastructure for AI companies including Anthropic, Bloomberg reported, citing people familiar with the matter. Under the plans currently under discussion, the total financing package could ultimately approach $100 billion.

TradingKey - Walmart (WMT) delivered a second-quarter earnings report that looked impressive on the surface but revealed clear underlying concerns. The company's revenue and adjusted earnings per share both exceeded market expectations, and its full-year outlook for sales and operating profit was also raised. However, U.S. same-store sales growth slowed to its lowest level in more than six years, and third-quarter earnings guidance fell short of expectations, raising concerns among investors that its growth momentum is slowing down.

TradingKey - On August 20, Eastern Time, at a hearing held by the Nevada Transportation Authority, regulators unanimously approved Tesla (TSLA), Uber (UBER), and Waymo to operate paid driverless taxi services in Clark County. Tesla was authorized to deploy up to 5,000 Robotaxis over the next 12 months, while Uber and Waymo were each approved for 1,000 vehicles.

Large language models (GPT/Claude/Gemini) excel at reasoning, yet lack an understanding of how an enterprise actually operates; while ERP, CRM, and MES systems have accumulated vast amounts of business data, they remain siloed. Palantir bridges the two: it connects LLMs with an enterprise's physical world by structuring operational rules buried across disparate systems and employees' minds, creating a directly callable digital twin for the organization. This allows LLMs to no longer merely respond

TradingKey - Nvidia (NVDA) has explicitly denied recent rumors that it plans to launch customized AI chips for Chinese customers by the end of the year.

TradingKey - On August 20, Eastern Time, Micron Technology (MU) announced that it will establish the "Micron Research Lab" at its headquarters in Boise, Idaho, investing approximately $10 billion over the next decade to focus on cutting-edge fields such as memory, compute architecture, packaging, and manufacturing.

TradingKey - According to Bloomberg, citing people familiar with the matter, artificial intelligence company Anthropic is advancing its preparations for a public listing and plans to invite Citigroup (C) to join the core underwriting team for its initial public offering (IPO).

TradingKey - The impact of Bessent’s intervention in the bond market faded, while Trump’s threat of sanctions against Iran pushed up oil prices and reignited inflation concerns. At the close, the Dow Jones Industrial Average fell 1.32% to 52,759.21; the Nasdaq Composite Index dropped 1.00% to 26,06

A renewed surge in US Treasury yields and rising oil prices weighed on market sentiment. All three major US stock indexes closed lower, but AI hardware stocks bucked the trend to move higher, with memory and optical communication stocks leading the gains. At the close, the Dow Jones Industrial Average fell 1.32% to 52,759.21; the Nasdaq Composite Index dropped 1.00% to 26,067.17; and the S&P 500 Index declined 0.87% to 7,641.16.

People familiar with the matter said that Anthropic PBC is accelerating its preparations for an initial public offering and could publicly file its IPO application as early as the end of this month. Media reports previously indicated that Anthropic would officially go public in October this year.

On August 20, Eastern Time, U.S. stocks suffered another setback. Despite U.S. Treasury Secretary Bessent stating readiness to further scale up bond buybacks—with single long-term bond buyback operations potentially exceeding $4 billion—U.S. Treasury yields continued to surge. The 30-year Treasury yield rose as much as 6 basis points to 5.26%, returning to levels seen before Treasury Secretary Bessent announced the expanded buyback plan on Wednesday. The 10-year Treasury yield climbed in tandem by a similar magnitude.

Walmart (WMT) reported second-quarter sales before the U.S. market open that exceeded Wall Street expectations and raised its full-year performance forecast. However, full-year earnings per share (EPS) guidance came in below expectations, sending its stock down by around 10%.