markets

Tom Jones10/31/25

Nvidia announces deals with South Korea’s government and industrial giants to supply more than 260,000 chips

Nvidia is rising modestly in premarket trading today, up more than 2% at the time of writing, after announcing bumper deals with the South Korean government and some of the nation’s largest companies to supply them with more than 260,000 of its Blackwell chips.

In a press release published earlier today, Nvidia detailed that 50,000 of the company’s most advanced chips would go to AI projects from the government’s Ministry of Science and ICT; AI factories under construction from Samsung, Hyundai, and SK Group would also take 50,000 each; and Naver Cloud will receive 60,000 chips to expand its current Nvidia-powered AI infrastructure.

The deal was announced at the ongoing Asia-Pacific Economic Cooperation summit, held this year in Gyeongju, South Korea, with Nvidia CEO Jensen Huang having arrived in the nation just one day after his company became the first in history to cross the $5 trillion market cap threshold on Wednesday.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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