Top 20 in US Stock Market Trading Volume: Meta Tests Its First Self-developed AI Training Chip

On Wednesday, NVIDIA, the stock with the highest trading volume in the US stock market, closed 6.43% higher with a trading volume of $36.966 billion. Driven by the weak CPI data, the star tech stocks in the US stock market generally rose on Wednesday. The weak CPI data in February in the US made investors still expect the Federal Reserve to resume interest rate cuts in June and increased their bets on rate cuts, expecting at least two rate cuts within the year.

 

Tesla, ranking second, closed 7.59% higher with a trading volume of $34.66 billion. Although the stock soared on Wednesday, Wall Street successively lowered Tesla's target price. JPMorgan Chase even predicted that Tesla's stock price could fall by another 50%.

 

The brokerage Evercore ISI lowered Tesla's target price from $270 to $235. The analyst of this firm questioned that the “affordable model” Tesla is about to launch this year may just be a downgraded version of the Model Y, rather than an entirely new product line.

 

JPMorgan Chase predicted that Tesla's Q1 deliveries may reach the worst record in nearly three years and said the stock could fall by another 50% from its current level. The bank lowered Tesla's target price to $120, which is the lowest forecast among major brokerages.

 

McNally lowered its full - year vehicle delivery forecast for Tesla from 1.88 million to 1.75 million and cut its target price from $270 to $235, citing a blow to investors' confidence in Tesla's future growth.

Apple, ranking third, closed 1.75% lower with a trading volume of $13.544 billion. Morgan Stanley pointed out the delay in the AI transformation of Siri and lowered Apple's target price as well as the shipment forecasts of iPhones for this and next fiscal years.

 

In addition, according to a media report citing a confidential order from an Indian regulatory agency, Apple does not need to disclose its trade secrets in the regulatory investigation related to the antitrust case.

 

Meta Platforms, ranking fourth, closed 2.29% higher with a trading volume of $9.758 billion. According to media reports, two sources revealed that the US tech giant Meta Platforms is testing its first self - developed chip for training AI systems. The report said that Meta has started small - scale deployment of the chip and plans to increase production for large - scale use if the testing goes smoothly.

 

Media analysis said that this will be a milestone for Meta, and it may start designing more customized chips to reduce its reliance on external suppliers like NVIDIA.
Promoting in - house chip development has been part of Meta's long - term plan, aiming to reduce its huge infrastructure costs, as the company has placed expensive bets on AI tools to drive business growth.

 

Amazon, ranking seventh, closed 1.17% higher with a trading volume of $8.343 billion. The US Federal Trade Commission (FTC) on Wednesday requested to postpone the trial of Amazon's Prime business.

 

Broadcom, ranking ninth, closed 2.18% higher with a trading volume of $5.916 billion. Tech stocks in the US stock market generally rose on Wednesday. Besides, there was news that TSMC had expressed its intention to cooperate with NVIDIA, AMD and Broadcom to jointly invest in Intel's foundries.

 

Google Class A shares, ranking tenth, closed 1.87% higher with a trading volume of $4.578 billion. Google is in talks with the data storage company Snowflake on a deal to enhance the security of its AI model Gemini. According to a Snowflake employee, the deal will allow “highly regulated companies” in sensitive fields to build applications through Gemini without worrying that Google will incorporate the information into its model or leak it to other customers.

 

The source said that Snowflake has been trying to discuss cooperation with Anthropic and Microsoft for over a year, fearing that not supporting Anthropic would cause it to lose major deals with customers. Meanwhile, a source close to Databricks said that the company is in talks with Anthropic on a similar cooperation arrangement.

 

Applovin, ranking fourteenth, closed 5.75% higher, rising for the second consecutive trading day, with a trading volume of $3.483 billion. The stock has been declining since it peaked in mid - February, but Citi still reaffirmed its “buy” rating and maintained a target price of $600, believing that the “false accusations” in the recent bearish reports and the overall sell - off of momentum stocks are among the reasons for the decline.

 

Alibaba, ranking seventeenth, closed 1.35% lower with a trading volume of $3.21 billion. Joseph Tsai, Chairman of Alibaba Group, said on Wednesday that the private enterprise meeting held a few weeks ago sent positive signals. Private enterprises will invest and create new job opportunities driven by confidence, which will in turn boost consumer confidence.

 

He also said that Alibaba announced that it will invest over $50 billion in cloud computing infrastructure and AI hardware in the next three years, deciding to reinvest its revenue in the construction of AI and cloud computing infrastructure. Other private enterprises, with confidence, will also take actions.$TSLA $NVDA $AAPL $COIN $APP $BABA $LLY $MSTR $AVGO $PLTR $MSFT