Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.10%, the S&P 500 up 0.38%, and the Nasdaq Composite up 0.59% [1] - Large-cap tech stocks showed mixed results, with Google, Nvidia, Oracle, and Intel rising over 2%, while Netflix fell over 3%, AMD dropped over 2%, and Microsoft and Meta declined over 1% [1] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 1.53%, with most popular Chinese concept stocks declining [1] - Xpeng Motors dropped over 6%, NetEase fell over 4%, and NIO, Bilibili, and Li Auto each decreased by over 3%, while JD.com and Baidu were down over 1% [1]

Welcome back to [music] Market on Close. I'm Sam Vardis on the floor of the New York Stock Exchange alongside Marley Kad in our Chicago headquarters. Let's welcome in our next guest and get some reaction to these Nvidia numbers.Keith Gangle, senior portfolio manager, Gradient Investments. Thanks so much for joining us, Keith. What do you make of this earnings report.>> It was fantastic. I think they checked all the boxes. It was a beat, a raise guidance, I think, is good enough.There's some whisper numbers ...

Core Viewpoint - The U.S. stock market closed with all three major indices showing gains, indicating a positive market sentiment despite mixed performances among large tech stocks [1] Group 1: Market Performance - The Dow Jones Industrial Average increased by 0.1% [1] - The S&P 500 index rose by 0.38% [1] - The Nasdaq Composite gained 0.59% [1] Group 2: Large Tech Stocks - Google, Nvidia, Oracle, and Intel each saw increases of over 2% [1] - Netflix experienced a decline of over 3% [1] - AMD fell by over 2%, while Microsoft and Meta both dropped by over 1% [1]

Core Insights - Supermicro has announced the launch of the new air-cooled AMD Instinct MI355X GPU systems, enhancing its portfolio of AI solutions and providing organizations with high-performance options for data centers [1][3][4] Product Features - The new 10U air-cooled servers utilize AMD Instinct MI355X GPUs, offering 288GB HBM3e per GPU and 8TB/s bandwidth, with a power boost from 1000W TDP to 1400W TDP, resulting in significantly improved performance compared to previous models [2][4] - The new systems are designed to deliver up to 4x generation-on-generation AI compute improvement and up to 35x leap in inferencing performance, catering to the needs of AI and inference workloads [4] Market Positioning - Supermicro emphasizes its leadership in high-performance solutions for AI and HPC, leveraging its Data Center Building Block (DCBBS) architecture to quickly integrate advanced AMD technologies into its offerings [2][3] - The collaboration with AMD aims to simplify the deployment of advanced AI performance within existing infrastructures, driving innovation across global data centers [3] Industry Context - The introduction of these GPU solutions aligns with the growing demand for high-performance computing in AI and cloud services, positioning Supermicro as a key player in the evolving tech landscape [3][4]

For so many years, Wall Street treated Advanced Micro Devices (AMD) as the little brother of Intel (INTC). Specifically, the type of siblings that fight all the time. AMD was the challenger, and there were many instances when Wall Street analysts wondered if it would survive. Skip ahead a couple of decades, and while INTC is now 10% owned by the U.S. government, AMD is a $400 billion stock in its own right. That’s more than double the value of INTC. Yet a lot of that ascension came in a very short amount ...

Core Insights - The article highlights the top-performing leveraged and inverse ETFs for the past week, emphasizing the volatility associated with these funds due to their leverage [1]. Performance Summary - **ProShares UltraShort Bitcoin ETF (SBIT)**: Achieved a weekly return of 19.93%, driven by a decline in Bitcoin's price amid fears of a tech bubble and reduced expectations for a US rate cut [2]. - **ProShares UltraShort Ether ETF (ETHD)**: Recorded a 19.41% weekly gain, influenced by similar market conditions affecting Ethereum, including a drop in price due to interest rate cut expectations [3]. - **Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL)**: Returned 15.80%, boosted by news of a proposed US government rule change expanding healthcare coverage for weight-loss drugs [3]. - **MicroSectors Gold Miners 3X Leveraged ETN (GDXU)**: Gained 14.30% as gold prices rebounded, supported by soft US employment figures and speculation about a Federal Reserve interest rate cut [4]. - **Direxion Daily S&P Biotech Bull 3x Shares (LABU)**: Increased by 13.70%, driven by strong revenue reports from companies like Nutex Health and positive trends in the biotech sector [5]. - **MicroSectors U.S. Big Oil 3X Leveraged ETN (NRGU)**: Achieved a return of 11.90%, influenced by sanctions on Russian oil and updates regarding the Fed Chair search [6]. - **Direxion Daily Healthcare Bull 3x Shares (CURE)**: Gained approximately 11.70%, reflecting the healthcare sector's overall performance [6]. - **MicroSectors Energy 3X Leveraged ETNs (WTIU)**: Returned 11.39%, with oil prices climbing due to geopolitical factors [6]. - **AXS TSLA Bear Daily ETF (TSLQ)**: Provided inverse exposure with nearly 11% weekly returns, as Tesla's stock faced challenges from CEO compensation concerns and declining sales [7]. - **GraniteShares 2x Long AMD Daily ETF (AMDL)**: Achieved over 10% weekly gains, following AMD's announcement of a $100 billion annual data-center revenue target [7].

Core Insights - A joint venture between AMD, Cisco, and HUMAIN aims to establish up to 1 GW of AI infrastructure by 2030, starting with a 100 MW deployment in Saudi Arabia [2][3][6] - The collaboration seeks to enhance Saudi Arabia's position as a leading provider of AI solutions for both regional and global markets [2][5] Company Collaboration - AMD, Cisco, and HUMAIN will act as founding investors and exclusive technology partners in the joint venture, combining HUMAIN's data centers with AMD and Cisco technologies [3][6] - The first phase of the project will focus on building 100 MW of AI infrastructure, utilizing AMD Instinct™ MI450 Series GPUs and Cisco's critical infrastructure solutions [4][6] Strategic Goals - The initiative is part of a broader ambition to create a dynamic, AI-driven economy in Saudi Arabia, addressing the urgent need for scalable, high-performance AI infrastructure [5][7] - Cisco's AI Readiness Index indicates that while 91% of Saudi organizations plan to deploy AI agents, only 29% currently possess robust GPU capacity, highlighting the necessity for advanced data center infrastructure [5][7] Future Operations - The joint venture is expected to commence operations in 2026, with plans to expand capacity to multiple gigawatts as part of HUMAIN's overall strategy [6][7] - The collaboration aims to localize innovation, talent, and technology within Saudi Arabia, strengthening the foundations of the digital economy [7]

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Group 1: Economic Insights - Bank of Canada Deputy Governor Sharon Vincent highlighted the urgency of Canada's weak productivity, describing it as a systemic issue that creates a vicious circle affecting economic goals [2][8] - Vincent emphasized that higher productivity is essential for increasing incomes and maintaining stable inflation, linking labor costs and productivity to inflationary pressures [2][8] Group 2: U.S. Job Market Developments - The U.S. Bureau of Labor Statistics canceled the October 2025 Employment Situation Release and rescheduled other key jobs reports, leading to a decline in market expectations for a December Fed rate cut [3][8] Group 3: Corporate Investments - Novartis AG announced a $23 billion investment in U.S. infrastructure over the next five years, including a new manufacturing hub in North Carolina aimed at producing 100% of its key medicines domestically [4][8] - Saudi Aramco signed 17 MOUs and agreements with U.S. companies, with a potential value exceeding $30 billion, focusing on sectors such as LNG and advanced materials manufacturing [5][8] - A joint venture was launched by AMD, Cisco, and Humain to build 100MW data centers [5][8]

Core Insights - Nvidia is expected to report strong earnings, with a beat and raise anticipated due to high demand for AI data center products [2][11] - The AI data center market is experiencing a fundamental shift, with workloads evolving from traditional applications to AI-centric tasks, leading to increased demand for Nvidia's GPUs [4][11] Group 1: Earnings Expectations - Analysts are eagerly awaiting Nvidia's earnings call, expecting it to outperform and raise guidance [2] - Nvidia's supply of GPUs is still unable to meet the high demand, particularly in the AI data center segment [4][5] Group 2: Product Performance - Nvidia's new Blackwell Ultra GPU architecture is reported to be significantly more efficient, offering 10 times the performance per dollar and per watt compared to the previous Hopper architecture [7] - The introduction of the Blackwell Ultra is expected to have a substantial positive impact on Nvidia's earnings [7] Group 3: Competitive Landscape - AMD is gaining traction in the AI data center market, with expectations of growth in their market share due to new product offerings [9] - Despite AMD's advancements, Nvidia maintains a strong competitive position, particularly with the Blackwell Ultra architecture [11] Group 4: Market Dynamics - Nvidia's market share in China has decreased, but strong demand in the US and other regions is expected to mitigate any negative impact on earnings [10][11] - The overall AI data center market is expanding, benefiting both Nvidia and AMD as they cater to increasing demand [9]