Top 20 in US stock trading volume: Nvidia erases this year's decline, and a large chip order from Saudi Arabia boosts its stock price
Tesla ranked No. 1 in U.S. stock trading volume on Wednesday, closing 4.07% higher with $46.875 billion in transactions. The stock has surged more than 16% since the week began.
Tesla’s Shanghai Gigafactory set a one-year export high in April, shipping nearly 30,000 Model 3 and Model Y vehicles—its strongest monthly performance in 12 months.
Tesla’s Q1 2025 earnings revealed strong demand for the refreshed Model Y, which broke single-day order records in the Asia-Pacific market upon launch. The Shanghai Gigafactory achieved a rapid production transition in just six weeks, making the refreshed Model Y the fastest-ever model for Tesla to scale production, with over 172,000 units delivered in Q1.
NVIDIA claimed the No. 2 spot in trading volume, closing 4.16% higher with $37.067 billion traded. The company has erased its year-to-date losses, climbing more than 16% since the week started.
At the Saudi-U.S. Investment Forum in Riyadh on May 13, NVIDIA CEO Jensen Huang announced a major partnership: the company will supply over 18,000 of its latest GB300 AI chips to HUMAIN, an AI firm backed by Saudi Arabia’s sovereign wealth fund (PIF). The chips will power a massive 500-megawatt AI data center, underscoring Saudi Arabia’s ambitions in global AI competition.
Palantir ranked third in trading volume, closing 1.62% higher with $12.488 billion traded. Bank of America turned bullish on Palantir in a recent report, raising its price target to the highest on Wall Street.
Analyst Mariana Perez-Mora wrote in a client note: “While general-purpose tools have value, Palantir’s core strength lies in scaling the development of outcome-driven, customized AI solutions. We believe the company is defining the market standard for how enterprises leverage AI to drive tangible results.” Perez-Mora reaffirmed a “buy” rating and lifted the target price from $125 to $150.
AMD secured the No. 6 position in trading volume, closing 4.68% higher with $10.235 billion traded. The company announced its board had approved a $6 billion stock repurchase program, expanding on a prior $4 billion authorization.
Google’s Class A shares ranked 10th in trading volume, closing 3.66% higher with $7.969 billion traded. Media reported Tuesday that Saudi venture firm STV, backed by Alphabet, launched a $100 million AI fund to support early-stage startups and accelerate AI infrastructure in the Middle East and North Africa. Google’s funding stake was not disclosed.
Super Micro Computer ranked 11th in trading volume, surging 15.71% with $7.564 billion traded, after announcing a $20 billion deal Tuesday evening with Saudi Arabia’s DataVolt to supply servers for data center projects.
Eli Lilly landed at No. 12 in trading volume, closing 4.09% lower with $5.413 billion traded, following President Trump’s signing of an executive order targeting prescription drug prices on May 12.
“We will no longer subsidize foreign healthcare systems,” Trump said, vowing to end “big pharma profiteering” through a “Most Favored Nation” pricing policy that requires drugmakers to offer the U.S. the lowest prices available in other developed countries.
Notably, Trump singled out weight-loss drugs at the signing. A White House official said the order would “prioritize drugs with the largest price gaps and highest spending,” with GLP-1 medications—used for weight management—likely in the crosshairs.
Boeing ranked 18th in trading volume, edging 0.64% higher with $3.412 billion traded, after announcing a historic deal with Qatar Airways for up to 210 Boeing aircraft—the largest widebody order in the company’s history.
The agreement includes 130 787 Dreamliners, 30 delayed 777-9s, and 50 purchase options. Qatar Airways also signed a $400+ million engine deal with GE Aviation, the largest widebody engine order in GE’s history.