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A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Nvidia $NVIDIA(NVDA.US) reported Q2’27 revenue of $96.2B, beating estimates of $92.2B and up 106% YoY. Adjusted EPS came in at $2.22 versus $2.10 expected, up 120% YoY. Data Center revenue reached $89.0B, above the $85.8B estimate and up 117% YoY, while adjusted gross margin was 75.0%, in line with expectations and up 250 bps YoY. Nvidia guided Q3 revenue to $108.0B +/- 2%, ahead of the $104.2B estimate, with adjusted gross margin expected at 74.0% +/- 50 bps. The company generated $64.0B of adjusted operating income, $54.0B of adjusted net income, and $21.3B of free cash flow, while returning roughly $26.0B to shareholders in Q2 with about $99.0B remaining on its authorization. Nvidia said its outlook assumes no Data Center compute revenue from China, while Vera Rubin is ramping into full production with racks running at partners.

2. US GDP came in at 1.5% QoQ, matching estimates. PCE rose 0.2% MoM versus 0.1% expected and 3.7% YoY versus 3.6% expected, while Core PCE was in line at 0.2% MoM and 3.3% YoY. Consumer spending increased 0.2% MoM, above the 0.1% estimate, and personal income rose 0.4% MoM, ahead of the 0.2% estimate. Real personal consumption was flat at 0.0% MoM, matching expectations.

3. Meta $Meta Platforms(META.US) agreed to an $18B youth safety commitment as part of its settlement with U.S. states, including $17B tied to broader settlement terms and $2.2B payable to California. Under the deal, Meta will spend the money over 10 years on youth online safety initiatives and implement new protections for users under 18, including limiting social media use to 2 hours per day and blocking access from 12 a.m. to 6 a.m. Compliance will be monitored by an independent auditor for 5 years. Meta will accrue about $10B in legal expenses in Q3 2026, but says its July financial guidance remains unchanged. The company also said $5.3B of the settlement is tied to YouTube and TikTok implementing similar daily limits, night mode, and age assurance measures.

4. The Bank of Korea raised rates by 25 bps to 3.00%, marking its second straight hike and the first back-to-back rate increases since the COVID era. The central bank also raised its 2026 GDP growth forecast to 3.3% from 2.6%, signaling stronger confidence in the economy even as it tightens policy.

5. Nvidia $NVIDIA(NVDA.US) has agreed to acquire Hugging Face for $12.9B, according to The Information. Strategically, this would give Nvidia a much deeper foothold in the open-source AI ecosystem, where Hugging Face has become one of the main distribution layers for models, datasets, and developer workflows. The likely goal is not just owning another AI asset, but controlling more of the software layer around AI adoption: GPUs, networking, CUDA, inference infrastructure, and now a major platform where developers actually build, share, and deploy models. For Nvidia, this makes the ecosystem stickier and strengthens its position as AI shifts from training frontier models to deploying millions of inference workloads across enterprises.

6. U.S. new home sales fell 10.5% MoM in July to 607,000 units, the lowest level in 6 months and far worse than the 1.4% decline expected. Excluding January 2026, this was the weakest reading since November 2022. New home sales have now declined in 3 of the last 4 months and are down 6.3% YoY. The Midwest saw the sharpest drop, with sales plunging 42.7% MoM to 43,000, the lowest level since 2012. Sales in the South, the largest homebuying region at more than 60% of total sales, fell 13.0% to 383,000, the second-lowest level since January. The weakness comes as the 30-year mortgage rate hit 6.81%, its highest since August 2025, continuing to pressure homebuyer demand.

7. An IRGC spokesperson said the Strait of Hormuz will not reopen unless the U.S. accepts Iran’s conditions. Those conditions reportedly include foreign warships staying at least 400 km away and no vessel transiting the Strait without Iran’s permission. The IRGC also said Iran and Oman have agreed to share revenue from shipping through the Strait, adding another layer of geopolitical and energy-market risk around one of the world’s most important chokepoints.

8. CrowdStrike $CrowdStrike(CRWD.US) reported Q2’27 revenue of $1.47B, beating estimates of $1.44B and up 26% YoY. Adjusted EPS came in at $0.31 versus $0.29 expected, up 35% YoY, while free cash flow reached $377.4M, above the $353M estimate and up 33% YoY. Net new ARR hit a record $333M, up 51% YoY, bringing total ARR to $5.84B, up 25% YoY. CrowdStrike raised FY27 guidance to $5.99B–$6.01B in revenue, $1.25–$1.26 in adjusted EPS, and $6.60B–$6.61B in ARR. Management called Q2 the best quarter in company history, citing record Falcon Flex results, record net new ARR, stronger retention, and a Mythos-driven tailwind as AI adoption increasingly needs security at scale. $CrowdStrike(CRWD.US) was up 10% after hours.

9. The top 10 most active options today by contracts traded were $Tesla(TSLA.US) with 2.7M contracts, $NVIDIA(NVDA.US) with 2.5M contracts, $Meta Platforms(META.US) with 1.7M contracts, $Apple(AAPL.US) with 1.4M contracts, $Intel(INTC.US) with 742K contracts, $Amazon(AMZN.US) with 695K contracts, $SpaceX(SPCX.US) with 603K contracts, $Micron Tech(MU.US) with 595K contracts, $Microsoft(MSFT.US) with 579K contracts, and $AMD(AMD.US) with 404K contracts.

10. $NVIDIA(NVDA.US) Nvidia's CFO today said revenue is expected to grow approximately 70% in FY28, even with a supply-constrained outlook. The company said Vera CPU is now in full production, shipments are already underway to lead partners, and CPU revenue is expected to more than double in FY28 against roughly $20B of total server CPU demand. Nvidia also said it began production shipments of Vera Rubin earlier this month, while neocloud partners are expected to exit the year with 8 GW of installed capacity, up from roughly 3 GW at the end of 2025. The CFO said cloud industry backlog now exceeds $2T, with capex from the top five hyperscalers expected to reach nearly $800B in 2026 and $1.3T in 2027. Nvidia also addressed “circular financing,” saying it has invested nearly $50B in frontier AI labs and expects AI lab demand supported by its balance sheet to contribute roughly 25% of the business next year.

11. Google $Alphabet(GOOGL.US) has reportedly hired Barret Zoph, co-founder and former CTO of Thinking Machines Lab, as VP of Research, according to WSJ. Zoph will work on Gemini, bringing expertise in reinforcement learning and post-training. Separately, SoftBank is reportedly in talks to acquire a majority stake in OpenAI-backed humanoid robot maker 1X at roughly a $6B valuation. 1X previously tried to raise $1B at a $10B valuation but raised less than half that target, while OpenAI also discussed acquiring the company last year before talks fell apart. 1X says it received more than 10,000 pre-orders for its $20,000 NEO humanoid in the first week, with deliveries planned for 2026, though none have been delivered yet.

12. AWS $Amazon(AMZN.US) and Nvidia $NVIDIA(NVDA.US) announced a major expansion of their strategic AI infrastructure partnership, building on 16 years of joint innovation. As part of the expanded collaboration, AWS will deploy 2 million additional Nvidia GPUs across its global infrastructure in 2027–2028. The companies said they are deepening their work across AI factories, CPUs, networking, open models, data processing, and robotics, giving customers more ways to build and deploy AI at scale.

WALL STREET IS THE GREATEST SHOW ON EARTH.

Source: amit

Apple’s new M6 laptop/compute chip has continued the use of SoIC-MH advanced packaging, but high-end M-series chips (M6 Pro, Max, Ultra) may use 2 advanced packaging techniques, SoIC-MH for interconnect density and WMCM to integrate logic, LPDDR memory and high-speed I/O, media report, noting TSMC is readying capacity in 3 plants: Zhunan AP6, Longtan AP3 and Chiayi AP7. Analysts estimate WMCM capacity could reach 60,000 wafers-per-month (wpm) by end 2026 and over 120,000wpm in 2027. Important to note that the M6 is a monolithic die – everything on one slab of silicon – while the Pro, Max and Ultra versions are multi-die (chiplets) which need to be ‘stitched’ together via advanced packaging techniques.

SoIC-MH: System-on-Integrated-Chips Multi-Height

WMCM: Wafer-Level Multi-Chip Module $Apple(AAPL.US) $Taiwan Semiconductor(TSM.US) #semiconductors

Source: Dan Nystedt

Prediction: Apple will again be first to market with TSMC’s newest process technology when the 2nm M6 Mac mini becomes available Sept. 22.

That date could be beaten if iPhones with A20 / A20 Pro chips inside – also TSMC 2nm – ship earlier. The iPhone event is widely expected Sept. 9, with shipping typically a week later (Sept. 18?).

By “first to market,” I mean a finished product actually available to customers — not announced, sampling or in production.

Apple has been first to market with every major new TSMC process generation for nearly a decade: 10nm, 7nm, 5nm and 3nm.

The streak goes back at least to the 10nm A10X in the iPad Pro in June 2017.

AMD reached an important 2nm milestone first: In May it called Venice “the first high-performance computing (HPC) product in the industry to enter production on TSMC’s advanced 2nm process technology.”

That’s true. But entering production isn’t the same as reaching customers. $Apple(AAPL.US) $Taiwan Semiconductor(TSM.US) $AMD(AMD.US) #iphone18 #semiconductors

Source: Dan Nystedt