Zheng Quan Shi Bao·2025-12-30 00:30Group 1: Market Overview - The U.S. stock market experienced a collective decline on December 29, with the S&P 500 down by 0.35%, the Nasdaq down by 0.5%, and the Dow Jones down by 0.51% [2] - International precious metals saw significant drops, with COMEX gold futures falling by 4.45%, COMEX silver futures down by 7.2%, and spot gold dropping over 4% [2] Group 2: Precious Metals Performance - Spot silver experienced a dramatic decline, falling over 10% at one point, marking the largest single-day intraday drop since 2021 [7] - Spot gold fell below $4302 per ounce, with indications that it is also in an overbought state [7] - Other precious metals also faced substantial declines, with spot platinum down by 14.52% and spot palladium down by 15.79% [10] Group 3: Nvidia and Intel Transaction - Nvidia completed a $5 billion stock purchase of Intel, acquiring over 214.7 million shares at a price of $23.28 per share as per the agreement reached in September [3][4] - This transaction was conducted through a private placement [4] Group 4: Semiconductor Industry Developments - Microsoft is reportedly in discussions with Broadcom to design custom chips, potentially shifting from its current supplier Marvell due to increasing demand for custom semiconductors [4] - Nvidia currently holds a dominant position in the semiconductor market, while Broadcom is viewed as a significant competitor [4] Group 5: Strategy's Financial Moves - Strategy has increased its cash reserves to $2.19 billion and suspended Bitcoin purchases, preparing for a prolonged downturn in the cryptocurrency market [4] - The company raised $748 million through common stock sales in the past week, following a previous $2 billion Bitcoin purchase that brought its total holdings to approximately $60 billion [4][5] - Strategy established a $1.4 billion reserve for future dividends and interest payments, addressing concerns about potential forced Bitcoin sales amid declining token prices [5]