Overnight US stocks | Tech stocks rebounded sharply, with the Philadelphia Semiconductor Index soaring over 8%. Microsoft Corporation (MSFT.US) saw its market value increase by $450 billion in a single day, setting a record for the stock's history.

On Thursday, all three major indices posted significant gains, with the Philadelphia Semiconductor Index surging over 8%. Microsoft Corporation (MSFT.US) saw its stock price jump 15.5%, increasing its market value by approximately $450 billion in a single day, marking the largest single-day increase in market value for any stock in history. U.S. Treasury yields remain under pressure as the Federal Reserve decided to maintain interest rates, with the 30-year Treasury yield hovering around 2007 highs. As of the market close, the Dow Jones Industrial Average rose by 613.92 points, an increase of 1.19%, closing at 52,208.06 points; the Nasdaq increased by 679.24 points, a rise of 2.78%, closing at 25,122.18 points; the S&P 500 Index climbed 121.48 points, up 1.66%, closing at 7,437.63 points. Micron Technology, Inc. (MU.US) rose 18%, SanDisk (SNDK.US) gained 26%, SK Hynix (SKHY.US) was up 17%, and NVIDIA Corporation (NVDA.US) increased by over 2%. The Nasdaq China Golden Dragon Index rose by 1.05%, with iQIYI, Inc. Sponsored ADR Class A (IQ.US) increasing by 4%. In European markets, the German DAX30 Index rose by 164.94 points, an increase of 0.65%, closing at 25,613.70 points; the UK FTSE 100 Index fell by 11.52 points, a decrease of 0.11%, closing at 10,896.89 points; the French CAC40 Index gained 77.37 points, up 0.92%, closing at 8,485.64 points; the Euro Stoxx 50 Index increased by 96.51 points, a rise of 1.54%, closing at 6,345.35 points; the Spanish IBEX35 Index rose by 357.73 points, an increase of 1.84%, closing at 19,748.03 points; the Italian FTSE MIB Index climbed 637.89 points, up 1.24%, closing at 52,081.00 points. In Asian markets, the Nikkei 225 Index rose by 0.71%, while the Korea Composite Stock Price Index fell by 1.23%. The U.S. Dollar Index, which measures the dollar against six major currencies, fell by 1.01%, ending the day at 99.868. At market close in New York, 1 euro exchanged for 1.1535 dollars, up from the previous trading day's 1.1452 dollars; 1 pound traded for 1.3476 dollars, higher than the previous day's 1.3364 dollars. 1 dollar exchanged for 158.93 yen, down from the previous day's 163.32 yen; 1 dollar traded for 0.8040 Swiss francs, down from 0.8149 Swiss francs; 1 dollar exchanged for 1.3996 Canadian dollars, down from 1.4040 Canadian dollars; 1 dollar traded for 9.5189 Swedish kronor, down from 9.6434 Swedish kronor. In cryptocurrencies, Bitcoin rose over 1%, trading at $64,700; Ethereum increased by over 0.6% to $1,920. In the oil market, light crude oil futures for September delivery on the New York Mercantile Exchange fell by 87 cents, closing at $83.59 per barrel, a decline of 1.03%; September Brent crude oil futures fell by $1.71, ending at $89.03 per barrel, a drop of 1.88%. For precious metals, spot gold was priced at $4,105.65; spot silver was at $59.09. Macro news: OpenAI announced a price reduction for two models of GPT-5.6. OpenAI stated on Thursday that it would lower prices for its two GPT-5.6 models after improving system efficiency. The price of GPT-5.6 Luna will be reduced by 80%, while GPT-5.6 Terra will see a 20% reduction. Luna will now charge $0.20 per million input tokens and $1.20 per million output tokens; Terras pricing will be $2.00 per million input tokens and $12.00 per million output tokens. OpenAI indicated that the price reductions for Luna and Terra would be reflected in the billing rules for Codex and ChatGPT Work, but the most powerful version, GPT-5.6 Sol, will not see a price drop. OpenAI also mentioned that it will provide faster options for GPT-5.6 Sol in its API. Recently, OpenAI has been in fierce competition with companies like Anthropic to see who can provide the best model. As the token consumption of the next-generation reasoning models has significantly increased during longer-running agent tasks, both OpenAI and Anthropic have adjusted their pricing, rate limits, and other usage policies. Citadel takes over a massive AI stock position from Situational Awareness. Reports indicate that Situational Awareness, a hedge fund founded by former OpenAI researcher Leopold Aschenbrenner with assets under management of $24 billion, has suffered significant losses and has rapidly sold off a large portion of its $16 billion public market stock holdings to Citadel. Insiders revealed that the hedge fund engaged in emergency discussions with several investors on Wednesday night regarding selling off a substantial amount of its public market holdings. Situational Awareness also holds stakes in several private companies, including $5 billion worth of shares in Anthropic. According to one insider, the fund will continue to operate as a private investment firm. Additionally, other insiders disclosed that at least three multi-billion dollar hedge funds have been in talks with Situational Awareness over the past 24 hours, seeking to facilitate transactions. Stock news: Apple Inc.'s total revenue slightly exceeded expectations, while revenue from Greater China fell short, leading to a 4% drop in after-hours trading. Apple Inc. (AAPL.US) reported on Thursday that its third fiscal quarter revenue and profit both surpassed Wall Street expectations, driven by strong demand for iPhones and MacBooks amid a wave of price increases in consumer electronics. The earnings report showed that revenue for the third fiscal quarter rose 16.4% year-over-year to $109.42 billion, slightly surpassing the market expectation of $108.65 billion. Earnings per share for the quarter were $2.02, including $0.11 from tax refunds, which remained above the expected $1.89 even without this. iPhone sales increased by 21.7% to $54.25 billion, exceeding analysts' expectations of $53.86 billion, becoming the main engine of Apple Inc.'s growth and setting a historical record for the third quarter. Typically, sales slow in this quarter as consumers await the fall release of new models. This year, a global shortage of memory chips has raised the prices of Mac and iPad products, prompting users to purchase iPhones in advance. Apple Inc. has not yet raised the price of its flagship product, the iPhone, but Wall Street widely expects a price adjustment during the September fall launch event. Moreover, Apple Inc.'s revenue from Greater China for the third fiscal quarter was recorded at $18.82 billion, while the market expectation was $19.67 billion; service revenue was $30.74 billion, with market expectations set at $31.22 billion. Apple Inc. (AAPL.O) shares dropped 4% in after-hours trading. Amazon.com, Inc. surpassed Q2 cloud business revenue expectations, gaining 8% after hours. Fueled by a surge in corporate spending on artificial intelligence, Amazon.com, Inc. (AMZN.US) reported that its cloud business revenue for the second quarter exceeded market expectations, demonstrating that the company's hefty investments are paying off. The companys earnings report revealed that revenue from its cloud computing segment, Amazon Web Services (AWS), soared 37% to $42.2 billion, while analysts had generally expected an increase of 31.21%. This optimistic performance may alleviate market concerns over technology giants' continued investment in artificial intelligence (with total spending expected to exceed $700 billion this year)which has placed cash flow pressure on traditionally cash-rich companies and triggered worries of potential overcapacity expansion. In terms of revenue, its Q2 total was $200.6 billion, surpassing the market expectation of $196.422 billion; the Q3 revenue outlook is between $197 billion and $202 billion, falling short of market estimates of $204.072 billion. Amazon.com, Inc. shares jumped over 8% in after-hours trading. Meta commits to invest nearly $700 billion in areas such as data centers in the future. Meta Platforms (META.US) announced that it has committed to invest nearly $700 billion over the future through long-term and short-term agreements for AI data centers, cloud computing, and related fields. In a regulatory filing on Thursday, Meta stated that its irrevocable contract commitments amount to $349.3 billion, mainly concerning third-party cloud service agreements, servers, and network infrastructure. Meta indicated that this is a conservative estimate. The company also has $347 billion in leasing commitments that have not yet been started and are not reflected in the balance sheet. In July alone, an additional $68 billion was added, with payments set to begin in 2027 and 2028. These costs are outside existing leases and mainly involve data centers, co-location services, and "certain network infrastructures." Several banks are negotiating a $15 billion loan to Anthropic's data center with support from Alphabet Inc. Class C (GOOG.US, GOOGL.US). Reports indicate that an insider disclosed that a data center developer collaborating with Anthropic is in advanced discussions to borrow $15 billion to build a large data center complex and power plant in Texas, with Alphabet Inc. Class C providing financial guarantees and chips for the project. According to the agreement under negotiation, a syndicate led by Morgan Stanley would provide the $15 billion loan to Nexus Data Centers for constructing the complex in Hubbard, Texas. This complex will feature an on-site natural gas power plant capable of generating 1.6 gigawatts of power. The deal may be announced as early as today. Insiders indicated that to assist Nexus in raising debt financing, Alphabet Inc. Class C has guaranteed Anthropic's multi-billion dollar leasing and power payment obligations in case the startup defaults. However, one insider noted that Alphabet Inc. Class C's support is limited and only covers the minimum amount required for banks to complete the financing. These guarantees encompass four data center lease agreements that Anthropic has signed, along with associated power purchase agreements, with power supplied by the on-site power plant serving the complex.