Nvidia(US:NVDA) Zheng Quan Shi Bao·2025-09-25 00:17Core Viewpoint - The U.S. stock market experienced declines, with major indices falling for the second consecutive day, primarily due to pressure on AI-related stocks like Oracle and Nvidia, as well as upcoming PCE inflation data that is closely watched by the Federal Reserve [1][2]. AI Sector - AI-related stocks continued to face pressure, with Nvidia down 0.8% and Oracle down 1.7%. Micron Technology's earnings report initially boosted market confidence, showing a 46% revenue growth driven by AI demand [3]. - Concerns about the cyclical nature of the AI industry have intensified, particularly following Nvidia's announcement of a $100 billion investment in OpenAI, which some investors likened to events seen during the internet bubble [3][4]. - Investors are questioning whether the growth plans of Nvidia and OpenAI have sufficient energy support, leading to skepticism about the sustainability of their stock prices [3][4]. Market Sentiment - With high market valuations, traders may be engaging in profit-taking, especially after Federal Reserve Chair Powell highlighted concerns about overvaluation in the stock market [5]. - Prior bullish sentiment regarding AI's potential had driven the market to historical highs, overshadowing geopolitical risks and trade tensions. Expectations of rapid monetary easing from the Federal Reserve have also contributed to a positive outlook [5]. Economic Indicators - Traders are adopting a cautious stance ahead of the unemployment claims data and PCE inflation data set to be released [6]. Government Shutdown Concerns - Developments regarding a potential government shutdown have become a focal point, particularly after President Trump canceled a meeting that could have prevented a government shutdown before the September 30 deadline [7]. Company-Specific Developments - Alibaba officially announced a partnership with Nvidia to collaborate on Physical AI, launching seven new large model products during a conference [8][11]. - Intel shares rose by 6.41%, with reports indicating that Intel is in early-stage talks with Apple for potential investment [10]. - Micron Technology's strong earnings report contrasts with the broader market's concerns, as it reported better-than-expected results and a robust outlook [3].