GPUs and other AI-specific chips could rise to 60% of annual data-center spending by 2030 from roughly 50%, driven in part by the shorter 3–5 year replacement cycle for chips versus decades for larger infrastructure, according to a JPMorgan note. The bank also expects more than $3 trillion in financing for AI chips and essential hardware components over the next five years, and projects silicon spending reaching about $800 billion in four year's time from $340 billion in 2026. JPMorgan estimates Nvidia will ship 8.9 million GPUs this year, well ahead of Google’s TPUs and Amazon’s in-house AI chips. Nvidia reported $81.6 billion in fiscal first-quarter revenue, up 85% from the year-earlier period.

Federal Reserve Chairman Kevin Warsh struck a tough tone on inflation on Wednesday, sending ripples through financial markets. Traders moved to price in the possibility that the central bank could begin raising interest rates within months. The remarks challenged expectations that Warsh would prioritize easier policy.

Several Wall Street firms issued a wave of buy ratings on Thursday, led by Rosenblatt doubling its Micron price target to $1,200 from $600 and KeyBanc raising Marvell to $385 from $260. Loop and Oppenheimer kept buy ratings on Palantir, highlighting the value of its industrial AI platform and positioning as a foundational software layer. Arete and Oppenheimer also initiated coverage of SpaceX with buy/outperform ratings. The moves collectively centered on AI computing infrastructure, memory, and software, according to the analyst notes.

Intel shares jumped nearly 9% in premarket trading after President Donald Trump said in a Truth Social post that the company struck a deal with Apple to design and build chips in the United States. Other chipmakers also moved higher, with Marvell Technology up nearly 7% and Lam Research and Applied Materials each rising about 5%. Memory-related names advanced as well, including Western Digital up 5.6% and Micron Technology and Sandisk each up about 4%. The report also said falling oil prices lifted cruise operators, while SpaceX fell on a technical pullback after a recent surge rather than fresh fundamentals.

JPMorgan said China’s crude imports fell to 7.8 million barrels a day in May, an eight-year low, and held at around 8 million barrels a day in June as strategic stock releases and disruptions from the Middle East conflict weighed on flows. The bank expects imports to gradually recover from August, estimating that about 3 million barrels a day of the drop is temporary as China refills reserves and chemical-sector demand rebounds. It also said that if Beijing lifts its ban on refined fuel exports via general trade, shipments could rise 88% to 160% from first-half levels, tightening the global oil balance.

The International Energy Agency said global oil supply is set to rebound to 110.3 million barrels per day in 2025 after the U.S. and Iran reached a ceasefire agreement, creating a significant surplus. Brent crude futures for August fell 1.13% to $78.65 a barrel, while WTI futures for July declined 1.26% to $75.82 per barrel. The IEA said this was its “first look at 2027 balances” and concluded that “a significant overhang” is set to emerge next year.

A CNBC screen found that about a quarter of S&P 500 financial stocks—20 of 76—are within 10% of their 52-week highs, but have gone at least 100 days without setting a new high, including JPMorgan Chase, Bank of America, Chubb and Travelers. The Invesco KBW Bank ETF (KBWB) hit a record on Wednesday, its first since the fund’s 2011 inception, while JPMorgan and Bank of America notched their first intraday record highs since early January. Analysts and market participants point to a pickup in IPO and M&A activity that is lifting fee-based revenue, alongside bank fundamentals that have remained resilient in “bear flattening” rate periods, according to CNBC.

UniQure said it plans to seek FDA approval for its experimental gene therapy for Huntington’s disease in the third quarter of this year. The move follows a recent FDA meeting in which the agency said a three-year analysis from a Phase 1/2 study could support accelerated approval. The announcement comes months after UniQure was drawn into a public dispute with FDA leaders over whether its clinical trial data were sufficient.

多家国际投行于同日密集发布对AI算力链核心公司的积极评级：Deutsche Bank将Micron目标价大幅上调至1500美元；Bernstein上调ARM、AMD、Intel目标价并重申Outperform；JPMorgan重申Broadcom为Overweight；Wolfe对Tesla维持Peer Perform但指出盈利预期有利。上述动作集中指向AI基础设施需求加速落地，尤其利好芯片设计与制造环节。