Trump has once again stated that the stock market will rise significantly.
As the S&P 500 Index recovers its losses for the year, US President Trump calls out again: the stock market will go a lot higher (MARKET WILL GO A LOT HIGHER).
In the past month, the US stock market has experienced a strong rebound, coinciding perfectly with Trump's "Buy on the Hype" statement. Many investors are pondering: will this statement prove true once again?
Overnight, technology stocks again became the market focus, with AI applications and chip stocks seeing widespread surges. $NVIDIA (NVDA.US)$ Increased by more than 6%,$Super Micro Computer (SMCI.US)$ Soaring over 16%. $Hims & Hers Health (HIMS.US)$The application stocks are soaring across the board.
The significant rebound in the US stock market since early April highlights the bullish effect of Trump's assertion on April 9 that there is a 'significant buying opportunity.' However, apart from Trump's remarks overnight, there were also major news events such as his Middle East trip and the revocation of the Biden administration's 'AI diffusion rules' that stimulated the substantial rebound in the US stock market.
Is Trump embarking on a Middle East trip with a 'business elite team,' signaling the start of a tech stock feast?
On Tuesday, President Trump arrived in Saudi Arabia to commence a four-day visit to the Gulf region.
It is noteworthy that Trump made an appearance at the Saudi-American Investment Forum with a 'business elite team,' among them, $NVIDIA (NVDA.US)$ CEO Jensen Huang, $Tesla (TSLA.US)$ CEO Elon Musk, $Amazon (AMZN.US)$CEO Jessy, $Advanced Micro Devices (AMD.US)$ CEO Lisa Su, $Alphabet-C (GOOG.US)$ CFO Ruth Porat, $Palantir (PLTR.US)$ CEO Cap, $Uber Technologies (UBER.US)$ CEO Dara Khosrowshahi, OpenAI's Altman and others were present.
Interestingly, overnight Palantir surged over 8%, Uber gained more than 4%, both reaching historical highs, NVIDIA rose over 5%, and Tesla increased nearly 5%, having cumulatively rebounded more than 50% from the year's low, while AMD climbed over 4%.
In addition, including $Halliburton (HAL.US)$、 $Blackstone (BX.US)$ 、 $Citigroup (C.US)$ 、 $Blackrock (BLK.US)$ 、$IBM Corp (IBM.US)$ 、 $Boeing (BA.US)$、 $Baker Hughes (BKR.US)$、 $Schlumberger (SLB.US)$、 $Northrop Grumman (NOC.US)$、 $Iron Mountain (IRM.US)$、 $Alcoa (AA.US)$、 $Coca-Cola (KO.US)$ CEOs from various companies also attended the dinner.
It is noteworthy that after President Trump met with Saudi Crown Prince Mohammed bin Salman in Riyadh, he received an investment "big package" worth $600 billion covering various fields such as Energy and Defense. This is the first state visit of "Trump 2.0."
In addition, American chip giants are helping Saudi Arabia build an AI factory.
NVIDIA CEO Jensen Huang announced on Tuesday local time that the company will sell 0.018 million AI Chips to Saudi Arabia's newly established AI company, Humain. NVIDIA will also collaborate with the Saudi Data and Artificial Intelligence Authority (SDAIA) to invest in the construction of an AI factory over the next five years, further expanding its technological deployment in the Middle East market.
AMD also announced its cooperation with Humain to build AI infrastructure, covering a network of data centers extending from Saudi Arabia to the USA.
Amazon's AWS has also announced a partnership with Humain to build an 'AI Zone' in Saudi Arabia with an investment of over 5 billion dollars.
Google has partnered with the Saudi venture capital firm STV to launch an AI Fund valued at $0.1 billion, focusing on supporting early-stage AI startups in the Middle East and North Africa and accelerating regional AI infrastructure development. However, the proportion of Google's investment has not been disclosed.
$Oracle (ORCL.US)$It has also been announced that an investment of 14 billion dollars will be made in Saudi Arabia over the next ten years, focusing on local deployment of Cloud Computing and AI technologies.
Google, DataVolt, Oracle,$Salesforce (CRM.US)$AMD and Uber Technologies have committed to invest $80 billion in cutting-edge transformational technology in both countries.
In addition, OpenAI's ambitious global version of the 'Stargate' may first land in the UAE.
In addition, Musk announced that Starlink has been authorized to provide maritime and Airline Services in Saudi Arabia, while expressing hope to introduce $Tesla (TSLA.US)$ Self-Driving Cars Robotaxi into the country, while $Uber Technologies (UBER.US)$ having previously announced plans to launch automated driving car service in Saudi Arabia within this year.
It is understood that Uber Technologies has a large user base in Saudi Arabia, and its Careem app is one of the most popular ride-hailing applications in the Middle East, operating in 26 cities across the kingdom.
The Saudi Arabian Public Transport Authority announced on X on Tuesday that the institution has signed a memorandum of understanding with Uber Technologies to launch autonomous vehicles in Saudi Arabia. However, the memorandum of understanding is not legally binding and only indicates an intention to cooperate.
The Trump administration overturns Biden's restrictions on AI Chips.
To pave the way for the development of AI, the US officially withdrew the so-called 'AI Diffusion Rules' introduced by the Biden administration on Tuesday.
The USA Department of Commerce's Bureau of Industry and Security (BIS) announced the initiation of the repeal of the Biden administration's Intelligence Diffusion Rule, while also announcing additional measures to strengthen global Semiconductors export controls.
This measure sets three different levels of access for countries seeking AI Chips, and was previously met with strong opposition from companies like NVIDIA and USA allies, as this rule restricts countries from purchasing chips.
In the view of many investors, the formal repeal of this regulation will positively impact NVIDIA's Industry Chain. Additionally, major companies in North America continue to maintain high levels of capital expenditure, and confidence in the Industry Chain is expected to be restored.$Microsoft (MSFT.US)$It has been revealed that both Meta and Amazon achieved steady growth and significantly increased their capital expenditures, focusing on AI Datacenters, Cloud Computing Service, and related technological infrastructure development.
Overall, after a series of major events released recently, market risk appetite has significantly improved, emerging from over two months of chaotic interplay between tariff battles and macro fluctuations, the AI narrative seems to have regained dominance.
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Editor/Somer
