⚡️Friends, today’s U.S. stock market move really has left everyone a bit stunned. The Dow Jones climbed steadily by 0.51%, closing at 52,210 points; the S&P 500 was mostly flat, but the Nasdaq kept dipping by 0.18%, dragging out a four-day losing streak.

The worst-hit was the chip sector: the Philadelphia Semiconductor Index fell 2.23% straight away, and chip stocks bled across the board. Nvidia dropped nearly 5% in a single day, and its market cap slipped back to $4.76 trillion.
On the other side, Apple rose 1.17%, and its market cap surged to $4.95 trillion, reclaiming the title of the world’s biggest company by market value for the first time in more than a year.
Market sentiment has already changed. In the past, everyone went all-in on AI infrastructure, believing whoever spends to build data centers can win. But now investors are starting to re-check the math: the future of AI looks great, but the burn rate is far too fast.
Nvidia’s gain this year is only 4%, while Apple has already outperformed by 24%. Funds are beginning to tilt toward companies that spend less, make more, and have steadier cash flow.
Today’s energy market also played out a big drama. WTI crude oil plunged 7.5%, and Brent crude fell even more, down 8.7%. Pressure eased for energy stocks, but the chip market remains under strain.
Korean semiconductors were hit even harder: SK Hynix fell more than 10%, Samsung dropped sharply, and South Korea’s KOSPI index crashed by 7% in a single day.
At the same time, there’s plenty of other buzz in the market: Jensen Huang posted that attackers have already gained access to advanced AI capabilities, and going forward defense needs to be pushed forward with both open-source and closed-source approaches. Nvidia also teamed up with multiple parties to form an open security AI alliance.
Strategy kept loading up on ammunition by selling shares to raise more than $500 million in cash, but its Bitcoin position remains unchanged.
In China, Changxin Technology’s IPO also sparked a massive wealth effect: Hefei state-owned assets saw unrealized gains exceed $1 trillion, multiple executives entered the “billionaire club,” and the number of employees who are millionaires also surpassed 200.
Now, the U.S. stock market is like a hot pot that’s actively boiling. Some people are still simmering old meat like Apple, while others keep staring at the hottest chip “bottom of the pot.”
The question is: who can withstand the temperature changes of the next round of waves. In today’s round, Apple won market preference, while chips are taking valuation pressure. Next, several tech giants will release earnings one after another—maybe the real show is just about to begin.