Analysis

Nvidia deepens its AI dominance with plans to invest $2.5 billion to acquire a stake in Thinking Machines Lab, an AI company founded by OpenAI's former Chief Technology Officer.

Dovish signals from Waller spurred a surge in Bitcoin and gold prices, with subsequent price action hinging on this week's upcoming non-farm payrolls report and next week's CPI data.

Wondering if the Ethereum (ETH) price forecast of $10,000 by 2030 is reality or pure hype? We break down the bull, bear, and top analyst predictions.

Driven by the AI frenzy and the lifting of rate hike alarms, US tech stocks surged across the board, with Nvidia dropping a $12.9 billion bombshell and BTC strongly breaking through the 80,000 mark.

Japanese and South Korean stock markets opened sharply higher, with the KOSPI reclaiming the 6,600-point mark. SoftBank surged 7%, while chip stocks such as Samsung and SK Hynix rose across the board.

On Thursday, OpenAI announced the launch of its next-generation artificial intelligence model, GPT-6 Astra, positioning it as a major step in the company's journey toward artificial general intelligence (AGI). The new model is initially available to enterprise users participating in the Daybreak program, followed by a phased rollout to ChatGPT Plus, Pro, Business, and Enterprise users, and will be offered through the OpenAI API and Amazon Web Services (AWS).

U.S. Treasury yields moved lower again as Federal Reserve Governor Waller indicated a inclination to keep interest rates unchanged at the central bank's next policy meeting in two weeks, boosting market trading sentiment. U.S. stocks strengthened, with technology and software shares leading the gains. At the close, the Dow Jones Industrial Average rose 1.18% to 53,686.11 points; the Nasdaq Composite Index gained 1.40% to 26,584.06 points; and the S&P 500 Index advanced 1.06% to 7,747.71 points.

On September 3, Eastern Time, Nvidia (NVDA) announced its acquisition of open-source AI platform Hugging Face for $12.93 billion, marking Nvidia's largest single acquisition to date. Nvidia stated that the merger will expand Hugging Face's platform scale, strengthen its infrastructure, and deliver a broader range of artificial intelligence services to developers and institutions worldwide.

Multiple major US artificial intelligence platforms experienced service disruptions on Thursday morning local time. According to outage tracking website Downdetector, OpenAI, Anthropic's Claude, Elon Musk's xAI Grok, and AI coding tool Cursor all received a large volume of user outage reports.

Federal Reserve Governor Christopher Waller stated that while US inflation remains significantly above the Federal Open Market Committee's (FOMC) 2% target, recent data has shown signs of cooling. If data released over the next two weeks continues to improve, he would lean toward supporting keeping the federal funds rate unchanged; however, if August inflation rebounds, he may support a rate hike at the September 15–16 FOMC meeting.

TradingKey - MU closed at $956.08 as AI-memory demand stays exceptional and Taiwan labor risk emerges. Can a break above $970 target $1,034.50?

On September 3, Eastern Time, SpaceX (SPCX) shares touched near recent highs in early trading, rising over 5%. Oppenheimer analyst Timothy Horan reportedly stated that SpaceX is expected to be a winner in the short-term computing power shortage, raising the price target from $250 to $280 and assigning a "Buy" rating to SpaceX.

TradingKey - ORCL trades near $145.80 as OCI growth and a $638B backlog support the AI-cloud story. Can a break above $148.75 target $153-$159?

TradingKey - The impact of the AI compute race is spreading from core components such as GPUs and HBM to optical communications and data center interconnects.

TradingKey - NVDA trades near $224.41 as AI demand stays strong and MediaTek expands its ecosystem. Can a break above $230.49 target $236-$242?

TradingKey - On September 3, Snowflake (SNOW) surged over 24% in US pre-market trading to around $380. The company reported its latest financial results that significantly beat market expectations while raising its full-year guidance, with sustained growth in its AI-related business boosting investor confidence.

TradingKey - On Thursday (September 3) Eastern Time, futures on the three major U.S. stock indexes were mixed in pre-market trading. Global bond yields pulled back from highs, while U.S. Treasuries extended gains from the previous session, with the 10-year Treasury yield holding largely stable around 4.77%. U.S. ADP employment data for August came in below expectations, shifting market focus further toward Friday's non-farm payrolls report to assess the Federal Reserve's next monetary policy path.

TradingKey - DELL trades near $492.31 after a 15.8% earnings surge and $95B AI backlog. Can a break above $500-$513 extend the rally toward $536?

TradingKey - In U.S. pre-market trading on September 3, futures on the three major stock indices were mixed. As of press time, Dow futures were up 0.2%, S&P 500 futures gained 0.06%, and Nasdaq futures fell 0.07%.

TradingKey - On September 3, Tesla (TSLA) will officially unveil the Cybercab, purpose-built for autonomous taxis, in Austin, Texas.