What's on the News?

• HSBC upgraded Nvidia Corporation(NVDA) 's rating from "hold" to "buy," raising its target price to US$320, implying nearly an 80% upside and suggesting a potential market cap near US$8 trillion, driven by AI industry growth.
• Tesla, Inc.(TSLA) rose 1.38% ahead of its Q3 earnings next week, with Wall Street keen on demand expectations after tax credit removal, while the launch of "streamlined" lower-priced Model Y and Model 3 variants aims to offset price hikes.
• Advanced Micro Devices, Inc.(AMD) surged 9.40% after securing a major AI chip order from Oracle, which plans to deploy 50,000 of AMD's upcoming MI450 AI chips in its data centers starting in Q3 2026, marking progress in challenging Nvidia Corporation(NVDA) 's AI chip dominance.
• Broadcom Inc.(AVGO) gained 2.09% following a 10-gigawatt computing partnership with OpenAI, boosting its position in the "custom computing" sector and moving closer to the AI chip leaders Nvidia Corporation(NVDA) and Advanced Micro Devices, Inc.(AMD) .
• Meta Platforms, Inc.(META) rose 1.26% after announcing a US$1.5 billion investment in a new Texas data center, its 29th globally, to support AI operations, set to open in 2028 with 1GW capacity, creating 100 long-term jobs.
• Alphabet Inc.(GOOGL) climbed 2.27% as Google revealed a nearly US$15 billion, five-year investment to establish an AI hub in Visakhapatnam, India, providing gigawatt-scale computing power to accelerate the country's AI transformation.
• Taiwan Semiconductor Manufacturing Company Limited(TSM) rose 2.96%, with reports suggesting Nvidia Corporation(NVDA) may surpass Apple as its largest customer this year, ending Apple's decade-long reign as the top client, thanks to explosive AI chip demand.
• Bank Of America Corporation(BAC) jumped 4.37% after Q3 earnings and revenue exceeded analyst expectations, with profit up 23% to US$8.47 billion, net revenue rising 11% to US$28.09 billion, and record-high net interest income of US$15.2 billion.
• Intel Corporation(INTC) rose 4.27% after unveiling its new AI data center GPU, codenamed Crescent Island, based on the energy-efficient Xe3P microarchitecture, featuring 160GB LPDDR5X memory and designed for AI inference workloads.
• Micron Technology, Inc.(MU) gained 2.61% despite New Street downgrading its rating to "neutral" with a US$190 target price, citing that while HBM demand is rising, Micron Technology, Inc.(MU) 's current valuation may limit upside even if future earnings exceed expectations.