--- title: "U.S. stock market update: QumulusAI plummets 26.24%, massive GPU purchases raise financial concerns" type: "News" locale: "en" url: "https://longbridge.com/en/news/293353822.md" description: "QumulusAI fell 26.24%; Palantir Tech fell 0.74%, with a trading volume of USD 583 million; IREN rose 4.32%, with a trading volume of USD 488 million; Strategy rose 5.40%, with a trading volume of USD 435 million; SAP fell 1.87%, with a market capitalization of USD 181.6 billion" datetime: "2026-07-21T14:03:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293353822.md) - [en](https://longbridge.com/en/news/293353822.md) - [zh-HK](https://longbridge.com/zh-HK/news/293353822.md) generator: "portal-rs" --- # U.S. stock market update: QumulusAI plummets 26.24%, massive GPU purchases raise financial concerns **U.S. Stock Market Midday Update** QumulusAI fell 26.24%. Based on recent key news: 1. On July 20, QumulusAI announced the acquisition of 1,632 NVIDIA Blackwell B300 GPUs to meet customer demand for high-performance AI computing. This procurement is one of the largest expansions the company has undertaken to date, primarily financed through an agreement with Technology Finance Corporation. This news raised market concerns about the company's future capital needs and financial stability, leading to a significant drop in stock price. 2. On July 20, the company disclosed limited operational history and net loss risk factors in its registration statement. Investor concerns about the company's ongoing losses intensified, further driving down the stock price. 3. On July 20, QumulusAI emphasized the competitive pressure in the high-performance computing and AI market and rapid technological changes in a press release published on Business Wire. These factors increased market uncertainty regarding the company's future profitability, putting pressure on the stock price. The AI market is highly competitive, with rapid technological changes. **Top Stocks by Industry Trading Volume** Palantir Tech fell 0.74%. Based on recent key news: 1. On July 17, France and Germany announced plans to develop European autonomous military AI software to replace Palantir's systems. This move could impact Palantir's business in the European market, putting pressure on the stock price. 2. On July 15, Palantir director Alexander D. Moore sold 16,000 shares of common stock at prices between $133.75 and $136.79. This action may raise market concerns about internal confidence in the company, affecting the stock price. 3. On July 17, analyst Gil Luria maintained a buy rating on Palantir and set a target price of $175, indicating market confidence in its long-term growth potential. The AI software market is growing rapidly and has significant potential. IREN rose 4.32%. Based on recent news: 1. On July 20, IREN announced it secured an AI cloud contract worth $2.8 billion, with clients including Microsoft and NVIDIA. The company raised its 2026 annual recurring revenue target to over $4 billion, driving the stock price up by 14.44%. 2. On July 21, IREN signed new multi-year cloud service contracts with major AI developers like NVIDIA and Microsoft, with a total contract value of $2.8 billion. Client prepayments cover 45% of GPU capital expenditures, alleviating investor concerns about high costs and dilution risks, leading to a 19.48% increase in stock price On July 20, IREN raised its year-end AI cloud revenue target from USD 3.7 billion to over USD 4 billion, with approximately 85% of the target covered by contracts. The company holds about USD 7.6 billion in cash and cash equivalents, and its stock price rose by 8.6%. Demand for AI cloud services continues to grow, and market sentiment is optimistic. Strategy rose by 5.40%. Based on recent key news: 1. On July 18, Strategy increased its USD reserves to approximately USD 3 billion by selling Bitcoin and stocks, alleviating short-term liquidity pressure. This move boosted market confidence in the company's financial stability, driving the stock price up. Source: CryptoQuant 2. On July 20, Strategy did not engage in new Bitcoin transactions and maintained its holding of 843,775 BTC. The company raised funds through stock sales, increasing its USD reserves to USD 3.2 billion, further solidifying its financial foundation. Source: Odaily 3. On July 21, Strategy's cash reserves and Bitcoin reserves could cover 1.8 years and 31 years of dividend payments, respectively, demonstrating the robustness of the company's financial structure and enhancing investor confidence. Source: Odaily The cryptocurrency market is volatile, with significant capital inflows. **Stocks ranked among the top in industry market capitalization** SAP fell by 1.87%, with increased trading volume. Based on recent key news: 1. On July 21, Barclays analyst Raimo Lenschow maintained a buy rating on SAP and set a target price of USD 255. The strong buy consensus rating and high target price from analysts may not have boosted market confidence, leading to a decline in the stock price. 2. On July 20, the Sequoia Strategy Composite disclosed an increase in its investment in SAP in its second-quarter report. Despite the increased investment, the overall market performance was poor, which may have affected SAP's stock price. 3. On July 21, Humanoid announced a collaboration with SAP and other companies, planning to deploy robots in the fourth quarter. Despite the promising collaboration prospects, it failed to have a positive impact on the stock price in the short term. The technology sector has recently experienced increased volatility, which needs attention ### Related Stocks - [QMLS.US](https://longbridge.com/en/quote/QMLS.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [IREN.US](https://longbridge.com/en/quote/IREN.US.md) - [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md) - [SAP.US](https://longbridge.com/en/quote/SAP.US.md) ## Related News & Research - [QumulusAI Anchors Metro Atlanta Data Center Site With a Contracted 3.75 MW and a Path to 10.75 MW | QMLS Stock News](https://longbridge.com/en/news/296486952.md) - [This Mercury Systems Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday](https://longbridge.com/en/news/295670020.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**