Tonight's Highlights | U.S. Oil Giant to Build Massive AI Power Facility European Markets Hit New Highs Again  

As U.S. government nears end to longest-ever shutdown, U.S. three major futures all slightly higher pre-market Wednesday. With AI industry key players Hon Hai Tech and Infineon both giving positive AI business progress, Nvidia and other tech giants rebound.  

 

As of publication, Nasdaq 100 futures (2512 contract) up 0.61%, S&P 500 futures up 0.35%, Dow futures up 0.24%.  

 

(Nasdaq daily chart, source: TradingView)  

 

Global compute chip "No. 2" AMD also higher after super strong profit growth guidance.  

 

Per schedule, House Wednesday vote on Senate temporary funding bill, if passed send to Trump sign. For capital markets, September U.S. economic data paused due to shutdown should soon appear, bringing Fed rate cut considerations back to focus.  

 

Per schedule, New York Fed President Williams, Philadelphia Fed President Anna Paulson, and two Fed governors Waller and Milan to speak Wednesday separately.  

 

Trading European stocks also hit new high moment. With Europe's "save & store" giant—banking sector strong attack, pan-European Stoxx 600 hits all-time high again, UK FTSE 100 and Spain IBEX 35 also hit intraday highs.  

Other Market News  

U.S. oil giant plans large AI-dedicated power facility  

 

In Wednesday investor day presentation, U.S. oil giant Chevron announced choosing West Texas as location for first data center natural gas power project. Facility expected operational 2027, future capacity up to 5,000 MW. Project may build separate from grid.

 

Chevron one of largest producers in West Texas Permian Basin, region's natural gas output often exceeds pipeline capacity, forced to flare.  

 

JPMorgan launches JPM Coin  

 

Wednesday market news says after months pilot, world's largest bank JPMorgan starts offering institutional clients deposit token called JPM Coin, for 7x24 payments on public blockchain, can serve as collateral on Coinbase exchange.  

 

AMD shares surge after AI growth vision  

 

As of publication, AMD pre-market up 5%. During Tuesday investor day, company expects AI chip market to $1 trillion by 2030, company to fight for higher share.

 

CFO Jean Hu says next 3-5 years expect overall business 35% annual growth, but data center 60%. And same period, company EPS to $20, current analyst 2025 FY EPS estimate $2.68.  

 

Circle Q3 revenue $740 million  

 

Stablecoin issuer Circle Wednesday report says Q3 total revenue and reserve income $740 million, up 66% YoY. Net profit $214 million up 202% YoY, adjusted EPS $0.64, over 3x analyst expected $0.18. End-quarter USDC in circulation $73.7 billion, up 108% YoY.