QtrendsAI boom pushes Wall Street to new highs
AI-driven stocks are pushing Wall Street to record levels, with AP News reporting continued gains fueled by booming artificial intelligence companies. Meanwhile, a growing number of US firms are turning to China's DeepSeek as a cheaper alternative to expensive Silicon Valley AI solutions, according to SCMP. Arizona's innovation ecosystem is also emerging as a key accelerator for AI growth in the US. Despite the boardroom enthusiasm, most companies still lack the foundational infrastructure to scale AI effectively.
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Rajesh Exports, an Indian gold jewellery company, was one of the awardees of the ₹18,100 crore PLI scheme in 2022 but now faces regulatory action from India's securities regulator SEBI. LIC holds a 10.8% stake in the company, while FII holdings have drawn investor attention. Founder Rajesh Mehta is at the center of the controversy as details of the SEBI action continue to emerge.
Broadcom, Micron, and Coinbase are among the stocks making major premarket moves, with CNBC tracking notable early trading activity. Emerging-market funds are pivoting away from maxed-out positions in TSMC, Samsung, and SK Hynix toward new opportunities. Marvell Technology appears poised for S&P 500 inclusion after an explosive stock surge, which could trigger further institutional buying.
China's BYD and Chery have achieved 80% overseas growth as global EV demand spikes, with analysts noting strong brand recognition abroad despite tepid domestic sales. Tesla's China sales rebounded in May to a 2026 high, driven by financing incentives, but local rivals are rapidly gaining ground. Foreign luxury firms are also reporting surging sales in the Chinese market, signaling uneven yet resilient consumer demand.
SpaceX is setting the stage for a record-breaking $75 billion IPO, which CNN reports could be the largest in history. AP News notes the offering could make Elon Musk the world's first trillionaire, with Forbes echoing that assessment based on the reported valuation. SpaceX has already paid to secure its ticker symbol ahead of the blockbuster listing, according to MarketWatch, signaling confidence in the publicly traded future of the private space giant.