Sou Hu Cai Jing·2025-09-23 23:24Market Overview - Federal Reserve Chairman Powell stated that U.S. stock valuations are quite high and reiterated the dual challenges of rising inflation and declining employment, without clearly indicating whether there will be a rate cut in October [1][5] - Following Powell's remarks, major U.S. stock indices ended their upward trend, with the Nasdaq dropping nearly 1%, led by declines in technology and discretionary consumer stocks. The tech giants all fell, with Amazon down over 3% and Nvidia down more than 2.8% [1] - The U.S. 10-year Treasury yield fell by over 4 basis points, and the dollar experienced two consecutive declines. Bitcoin saw a slight drop of 0.7% while gold reached a new high, nearing $3,800 [2][11] Company News - Micron reported a 46% increase in revenue for the last quarter, with guidance for the upcoming quarter exceeding expectations and setting new highs [6][18] - TSMC is reportedly raising prices for its 2nm process by at least 50%, with Samsung and SK Hynix also increasing prices, indicating a trend of rising chip prices [7][18] - OpenAI is expanding its data center presence in Texas, adding five new locations, which is part of a larger $500 billion project [17][23] Industry Insights - The semiconductor industry is experiencing a price surge, driven by increased demand for AI servers, which require significantly more copper foil than traditional servers [29] - The solid-state battery industry is expected to accelerate its development, with a focus on collaboration between automakers and battery manufacturers [28] - The electric power sector in China reported a total electricity consumption of 10,154 billion kWh in August, marking a 5% year-on-year increase, indicating strong demand [26]