Magnificient 7: Nvidia Invests $10.9B in AI Startups

1. Meta (Nasdaq: META)
Meta gained mildly by 2.69%. Meta launched new features for WhatsApp Business in India including custom messages. Meta Connect 2024 to introduce groundbreaking AR devices. Meta disclosed insider trade on September 10, with executive Javier Olivan selling 413 shares on September 6.

2. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 2.23%. Google faced a trademark lawsuit from AI company Gemini Data Inc. Additionally, European privacy regulators launched a probe into Google's AI data handling practices. Co-founder Sergey Brin criticized Google engineers for insufficient AI usage.

3. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.91%. Nvidia CEO Jensen Huang addressed strong demand for Blackwell AI GPUs, with some clients expressing frustration over availability. Nvidia's daily trading volume reached $43.179 billion. Huang and other tech leaders discussed AI infrastructure needs with the Biden administration. Nvidia is increasing investments in AI startups, totaling over $10.9 billion.

4. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 1.34%. Amazon plans to invest £8 billion in AI infrastructure in the UK over the next five years. Amazon has increased driver pay amidst unionization threats, raising the average to nearly $22 per hour and committing $2 billion to driver investments. Needham reiterated a Buy rating for Amazon with a target price of $210.

5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.94%. Microsoft appoints Carolina Dybeck Happe as Chief Operating Officer; halts support for outdated DRM services, affecting Windows 7/8 users. Microsoft to lay off 650 employees in Xbox division amid cost control efforts. September patch resolves Windows Server 2019 performance issues. Released .NET 9 RC1 version with enhanced WebSocket API.

6. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 0.74%. Tesla's Model Y led August SUV sales. On September 12, 2024, Tesla's trading volume reached $16.428 billion, ranking second on the day in the U.S. market. Tesla, alongside Apple, Microsoft, and Netflix, saw modest gains amid a broader rise in major tech stocks.

7. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.05%. Apple launched its first AI phone, iPhone 16, with region-specific features, set to reach China in 2025. The FDA approved hearing aid software for Apple AirPods Pro. Security researchers identified a new attack, GAZEploit, targeting Apple Vision Pro to steal passwords via eye movement tracking.