Magnificient 7: NVDA surged 6% on new display features and DLSS games

1. Nvidia (Nasdaq: NVDA)
Nvidia surged by 6.13%. NVIDIA has updated its app with new display features and launched new games supporting DLSS. The company disclosed 19 insider transactions on August 8, 2024. CoreWeave, an NVIDIA-invested cloud company, hired two executives from Google and Oracle to build its AI infrastructure. NVIDIA plans B200A to account for 55% of its high-end GPU shipments in 2025.

2. Meta (Nasdaq: META)
Meta gained solidly by 4.24%. Meta Platforms is negotiating AI voice rights with Hollywood stars. Meta also issued five senior unsecured bonds totaling $10.5 billion, rated "AA-" by S&P. Meta closed its VR game studio Ready at Dawn and is in talks for a potential VR partnership with Jio.

3. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.69%. Tesla reports its Autopilot feature enhances safety by 10.3 times, according to Q2 data. RBC Capital maintains an Outperform on Tesla but lowers the price target to $224. Tesla's Beijing sales manager emphasizes value over price in car purchases.

4. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 1.92%. CoreWeave, backed by Nvidia, hired two executives from Google and Oracle to bolster its AI infrastructure. Chen Goldberg, former VP at Alphabet's Google, joins as SVP, and Sachin Jain, former Oracle SVP, joins as COO. Google begins testing web monetization standards.

5. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 1.86%. The UK's Competition and Markets Authority is investigating Amazon's $40 billion investment in AI startup Anthropic. Additionally, Cathie Wood's ARK Innovation ETF has increased its holdings in Amazon amid recent market declines.

6. Apple (Nasdaq: AAPL)
Apple gained mildly by 1.66%. Apple announced that its Vision Pro headset now supports over 2,500 native applications. Additionally, a new Mac mini with an M4 chip, the smallest ever, is set for release later this year. Apple also updated its App Store policies to comply with EU regulations, allowing developers to offer products outside its ecosystem.

7. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.07%. Microsoft's Xbox mobile game store may launch soon with an official website. Microsoft acknowledged its role in the "blue screen" event. Zero-day vulnerabilities in Windows 10 and 11 were exposed at Black Hat 2024. Microsoft updated Outlook with a new web version and renamed old versions "Classic." The company is also using wallpaper apps to promote Bing.