On Wednesday, the stock with the highest trading volume on the US market was Micron Technology (MU), which closed up 4.83%. Its share price closed above $800 for the first time, reaching a record high. Trading volume reached $43.045 billion, pushing its market capitalization beyond $900 billion. Bank of America raised its price target for Micron from $500 to $950 while maintaining a "Buy" rating. The bank believes that in the coming years, demand growth for memory chips related to AI servers and data centers will continue to outpace supply growth.
This supply-demand imbalance is becoming a key component of the bullish narrative. Analysts noted that memory manufacturers are facing tighter production conditions, as building new capacity takes years and requires massive investment in factories, packaging, and power infrastructure. Meanwhile, AI systems are consuming more high-performance memory than ever before.
Amid this trend, Micron has emerged as one of the biggest winners, particularly in the field of High Bandwidth Memory (HBM) used in advanced AI chips. The stock has already experienced significant gains over the past year, but investors continue to pour into the sector as companies race to build more AI infrastructure.
The second-highest trading volume belonged to NVIDIA (NVDA), which closed up 2.29% with a trading volume of $33.475 billion. Reports indicated that NVIDIA CEO Jensen Huang is accompanying former President Trump on his visit to China.
In third place was Tesla Motors (TSLA), closing up 2.73% with a trading volume of $29.658 billion. Tesla CEO Elon Musk posted on social media on May 13th, stating he was aboard the US presidential aircraft "Air Force One" en route to Beijing. In response to a user's post suggesting the combined net worth of CEOs on the plane exceeded $20 trillion, Musk replied, "It's just me and old J (Jensen Huang) on Air Force One."
Additionally, reports surfaced that Tesla Cybertruck production and delivery schedules are extending into 2027, leading to notable divergence in analyst ratings for the company.
Ranking ninth was Alphabet (GOOGL), which closed up 3.94%, reaching a record high share price, with a trading volume of $10.959 billion. Alphabet plans to unveil a series of Android system upgrades ahead of its I/O developer conference. The company is reportedly working to upgrade its Gemini model from a chatbot to a system-level operating layer deployed on phones, browsers, vehicles, and laptops. This move by Alphabet aims to secure a leading position in mobile AI ahead of Apple's upcoming release of its new Apple Intelligence features.
In twelfth place was NEBIUS (NBIS), which surged 15.72% with a trading volume of $7.966 billion. The company reported Q1 2026 revenue of $399 million, representing a year-over-year increase of 684% and a sequential increase of approximately 75%, surpassing market expectations of $391.6 million. Adjusted EBITDA was $129.5 million, turning positive for the first time and significantly exceeding the market estimate of $87.2 million. The adjusted net loss was $100.3 million, better than the market's expected loss of $176 million.
Analysts pointed out that the stock's sharp rise was primarily driven by strong revenue, positive EBITDA, the announcement of a new plant in Pennsylvania, and positive sentiment from the Eigen AI acquisition.
Ranking thirteenth was Palantir Technologies Inc. (PLTR), which closed down 4.37% with a trading volume of $7.138 billion. Palantir reported Q1 revenue of $1.63 billion, a significant 85% increase year-over-year, and raised its full-year revenue guidance to over $7.6 billion. Concurrently, its commercial business revenue grew by 133% year-over-year, rapidly approaching the scale of its government business.
Against the backdrop of expanding demand from both US government and corporate clients, the company once again raised its full-year performance outlook, with key Q1 metrics comprehensively exceeding market estimates. The company now expects fiscal 2026 revenue to reach between $7.65 billion and $7.662 billion, higher than the previous guidance of approximately $7.2 billion and significantly better than Wall Street's forecast of $7.245 billion.
In eighteenth place was Alibaba (BABA), which closed up 8.18% with a trading volume of $5.575 billion. Alibaba's annual revenue exceeded 1 trillion yuan for the first time, with Cloud and AI becoming new growth engines.
On May 13th, Alibaba Group released its financial results for the fourth quarter of fiscal year 2026 (the first quarter of calendar year 2026) and the full fiscal year.
In Q1 2026, Alibaba Group's total revenue was RMB 243.38 billion, a 3% increase year-over-year. Excluding revenue from the disposed businesses of Sun Art Retail and Intime, revenue on a comparable basis would have increased by 11% year-over-year. Net income attributable to ordinary shareholders was RMB 25.476 billion. Net profit was RMB 23.502 billion, a 96% increase year-over-year.
For fiscal year 2026 (April 1, 2025 – March 31, 2026), Alibaba Group's revenue reached RMB 1,023.67 billion, a 3% increase, with net profit of RMB 105.904 billion. Annual revenue surpassed the 1 trillion yuan mark for the first time.
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