Top 20 in US stock trading volume: NVIDIA's Market Share in China Plummets from 95% to 50%
On Wednesday, NVIDIA, ranked No. 1 in U.S. stock trading volume, closed down 1.92% with a transaction volume of $35.959 billion. NVIDIA CEO Jensen Huang said on Wednesday that the company's market share in China has plummeted from 95% to 50%, which echoes the disclosure in its recent earnings report that the revenue proportion from the Chinese market has dropped from 19% to 5%.
Jensen Huang stated, "Four years ago, NVIDIA held a 95% market share in China. Now it is only 50%. The rest is all Chinese technology. Without NVIDIA, they would also use a lot of domestic technologies." He predicted that China's AI market will reach $50 billion by 2026. Arete lowered its price target for NVIDIA from $196 to $194 while maintaining a "buy" rating.
Tesla ranked No. 2, falling 2.68% with a transaction volume of $34.462 billion. Tesla CEO Elon Musk said in an interview on Wednesday that its Robotaxi program will launch as scheduled next month .
Musk also added that Tesla is testing thousands of vehicles around the clock to ensure maximum safety upon launch. The company has been testing fully autonomous Model Y vehicles on the streets of Austin at night.
Musk predicted that there will be hundreds of thousands or even more than one million autonomous Tesla vehicles on U.S. roads by the end of 2026. He revealed that several large traditional automakers have contacted Tesla to seek authorization for its FSD system. "We are happy to help," he said.
UnitedHealth ranked No. 3, falling 5.78% with a transaction volume of $13.017 billion. It was reported that UnitedHealth secretly paid nursing homes to reduce hospital transfer costs, exacerbating the group's troubles.
The report cited investigation results stating that these measures were part of the company's series of cost-cutting strategies, which saved the company millions of dollars but sometimes endangered customers' health.
UnitedHealth responded that the U.S. Department of Justice had investigated these allegations and obtained thousands of documents proving significant factual errors in the accusations. The company added that after reviewing all evidence during its multi-year investigation, the DOJ no longer pursued the matter.
Google's Class A shares ranked No. 4, rising 2.87% with a transaction volume of $12.154 billion. On May 20 local time, the 2025 Google Annual Developers Conference was held at Google's California headquarters. This year's new product launch focused on artificial intelligence, particularly the update of the Gemini model and its applications in various products.
The launch of AI Mode marks Google Search's transition to generative AI. The fully upgraded Gemini AI model is more powerful and deeply integrated with Google products, bringing features such as virtual fitting, smart replies, and real-time translation. In terms of immersive experiences, Google launched the Android XR system, which will develop headsets with Samsung and XREAL and collaborate with eyewear brands to launch smart glasses equipped with Gemini AI.
Palantir ranked No. 6, falling 3.99% with a transaction volume of $9.87 billion. Palantir's stock price fell approximately 4% after announcing a $178 million U.S. Army AI contract, an unusual phenomenon that triggered investor discussion. Although the deal appeared to be positive, the market reaction highlighted two pressures.
The first is short-term volatility: The current stock price has partially overdrawn expectations of military cooperation, leading to a "sell the news" effect. The company has accumulated a gain of over 40% in the past three months, prompting some funds to take profits.
The second is long-term concern: Regulatory uncertainties continue to suppress valuations .
Institutional opinions on the stock are sharply divided. Bank of America maintained a $150 price target, but the short interest ratio still accounts for 12% of the float. However, Palantir's business model of excessive reliance on government orders is triggering market doubts about its sustainability. This pullback may be a rebalancing of risk exposure by funds after the major contract was finalized.
Strategy ranked No. 10, falling 3.41% with a transaction volume of $7.517 billion. The stock had risen for three consecutive trading days prior.
A significant recent move by the company was its purchase of 7,390 bitcoins worth $764.9 million between May 12 and 18. This transaction demonstrates the company's strong confidence in the bitcoin market and further consolidates its strategic position in the cryptocurrency sector. Strategy's bold investment aligns with its long-standing "all-in" bitcoin strategy, having successfully transformed into a cryptocurrency investment platform after the 2000 internet bubble.
CoreWeave ranked No. 12, rising 19% with a transaction volume of $6.295 billion. The stock has risen for four consecutive trading days, accumulating a gain of approximately 63.3% over the four days. Listed for less than two months, its stock price has risen by over 170%. Recent news revealed that the company secured another $4 billion order.
D-Wave Quantum ranked No. 15, falling 7.25% with a transaction volume of $3.676 billion. The company recently announced the launch of its latest quantum computing system, the sixth evolution of the Advantage2 quantum computer and its most advanced system yet. Accessible via its cloud service, the system increases energy scale by 40% and reduces noise by 75%.