Stock Market Top 20 by Trading Volume: EU to Fine Google $3.5B, Trump Voices Outrage

On Friday, Tesla closed up 3.64% with a trading volume of $379.03 billion, ranking first. Tesla proposed a new performance-based compensation plan for CEO Elon Musk, including stock awards tied to ambitious milestones, such as doubling Tesla’s valuation to $2 trillion.

 

This proposal aims to keep Musk focused on Tesla’s growth while he engages in multiple projects. The potential value of this compensation package could reach approximately $1 trillion, an unprecedented sum in US corporate history. The highly anticipated plan seeks to motivate Musk to lead Tesla for years to come, setting ambitious performance targets he must meet for full payout, including expanding Tesla’s autonomous taxi business and growing the company’s market cap from about $1 trillion to at least $8.5 trillion over a decade.

 

Nvidia ranked second, closing down 2.70% with a trading volume of $368.97 billion. Goldman Sachs highlighted risks in AI stocks, noting, “Companies involved in this infrastructure build—such as semiconductor firms, electrical equipment makers, tech hardware companies, and power suppliers—benefit from massive capital expenditures.”

 

Goldman warned that a slowdown in capital spending growth could pressure valuations, stating, “Broad forecasts suggest mega-corporations will maintain capital expenditure growth in Q3 2025, potentially sustaining AI Phase 2 stock performance. However, analysts expect a significant slowdown in Q4 2025 and 2026.”

 

Broadcom ranked third, closing up 9.41% with a trading volume of $265.2 billion. The company is collaborating with OpenAI to design and produce AI accelerator chips, slated for a 2026 launch, entering the high-profit domain dominated by Nvidia.

 

Broadcom’s stock soared, marking its largest gain since April. Insiders revealed the two companies plan to deliver the first chips in this series starting next year, with earlier reports indicating OpenAI initially intended the chips for internal use.

 

Microsoft ranked fourth, closing down 2.55% with a trading volume of $158.27 billion. Reports suggest Microsoft has delayed the Windows 11 25H2 ISO release, originally slated for this week, now rescheduled to “coming soon” without a specific timeline. Earlier reports confirmed Windows 11 25H2 will share the same servicing branch as 24H2, meaning monthly updates for 25H2 will mirror those for 24H2.

 

Palantir ranked sixth, closing down 1.94% with a trading volume of $123.99 billion. Palantir partnered with Lumen Technologies to integrate its Foundry and AI platforms, aiding Lumen’s transition from a traditional telecom to a next-gen tech infrastructure firm.

 

Additionally, Palantir extended its partnership with Lear by five years, further applying AI to manufacturing. Palantir’s tools will help Lumen streamline operations, optimize decision-making, and modernize systems. Lumen’s Chief Technology and Product Officer Dave Ward stated, “As a cornerstone of the AI economy, Lumen strives to make its operations as intelligent and efficient as the network services we provide clients. Partnering with Palantir enables us to leverage AI to accelerate modernization and deliver the networks and services clients need in the AI era.”

 

AMD ranked seventh, closing down 6.58% for a fifth consecutive session, hitting a new low since July 22, with a trading volume of $118.51 billion.

 

Google’s Class A stock ranked eighth, closing up 1.16% with a trading volume of $108.87 billion. The EU imposed a nearly €3 billion ($3.5 billion) fine on Alphabet’s Google, ordering the tech giant to stop favoring its own ad tech services and cease such practices.

 

Google immediately announced an appeal, with Regulatory Affairs VP Lee-Anne Mulholland stating, “This imposes an unreasonable fine; the required changes will harm thousands of European businesses, making it harder for them to profit.”

 

US President Trump posted on social media, calling the EU’s action “essentially taking money that should go to US investment and jobs,” adding, “This doesn’t even include the many other fines and taxes on Google and other US tech companies—too unfair! American taxpayers won’t tolerate this! As I’ve said, my administration won’t allow these discriminatory actions.”

 

Lululemon Athletica ranked eleventh, closing down 18.58% with a trading volume of $62.2 billion, after again lowering its full-year guidance, triggering a sharp drop. For Q2, the company reported revenue of $2.525 billion, up 6.5% year-over-year but below expectations; operating profit was $524 million, down 3%; net income was $371 million, down 5.6%.

 

Diluted EPS was $3.1, up 1.59% and above expectations. For the first half, net revenue reached $4.896 billion, up 6.9%; net income was $685 million, down 4.04%.

 

Strategy ranked fourteenth, closing up 2.53% with a trading volume of $45.09 billion. Its strategy of building a Bitcoin treasury is paying off—potentially qualifying it for the S&P 500, as its $14 billion in unrealized gains last quarter theoretically meet the index’s profitability criteria. Though inclusion odds are low, Stephens analysts note that if successful, passive funds tracking the index would be forced to buy nearly 50 million shares (worth about $16 billion at current prices).

 

OpenTable ranked sixteenth, closing up 11.58% with a trading volume of $36.54 billion.

 

Oracle ranked nineteenth, closing up 4.39% with a trading volume of $35.18 billion. US President Trump commented before Friday’s opening that Oracle is an “amazing company.”