The top stock by trading volume on Friday closed down 4.42%, with a turnover of $39.758 billion. Boston-based hedge fund Whale Rock Capital Management filed a 13F form with the U.S. Securities and Exchange Commission, disclosing its portfolio changes as of the end of Q1 2026. The filing revealed that the fund made significant adjustments to its technology holdings: it initiated new positions in Apple and Microsoft while substantially reducing its stake in the recently popular NVIDIA.
The second-ranked stock, Micron, closed down 6.62%, with a turnover of $34.613 billion. Shares of memory chip concept stocks collectively declined in Friday's U.S. market session.
The third-ranked stock, Tesla, closed down 4.75%, with a turnover of $21.835 billion. According to a report from Teslarati, Tesla is constructing a dedicated car wash facility for the Cybercab near Las Vegas in Clark County, Nevada. The facility covers approximately 3,345 square meters and features a unique design, intended to serve Tesla's future Robotaxi fleet.
Documents indicate that Tesla had previously quietly submitted plans for the Cybercab car wash facility. On May 12, Tesla filed a permit application to commence renovation work for the "Tesla Center Cybercab Phase II Car Wash Facility."
The fourth-ranked stock, Microsoft, closed up 3.05%, with a turnover of $20.643 billion. Bill Ackman recently placed a bet on Microsoft, calling its valuation highly attractive. He believes market concerns regarding Microsoft's artificial intelligence prospects are overstated.
Ackman disclosed that Pershing Square will reveal a new position in Microsoft in its upcoming 13F filing, describing the software giant as "highly attractive" at current price levels.
He also noted that his newer fund, Pershing Square USA, has made Microsoft one of its core holdings, demonstrating strong confidence even as some on Wall Street have grown more cautious about the company's AI and cloud business outlook.
In a lengthy post on platform X, Ackman argued that Microsoft's recent stock weakness is primarily driven by concerns over two issues: whether Microsoft 365 can withstand competition from increasingly powerful AI workplace tools like Anthropic's Claude Cowork, and whether Azure's growth can remain sustainable as Microsoft's relationship with OpenAI continues to evolve.
However, Ackman believes investors underestimate the depth of Microsoft's ecosystem integration within large enterprises. He contends that Microsoft 365 is not just another software product but a foundational part of many companies' operations due to its integration in identity management, security, compliance, and workflow infrastructure.
Ackman also defended Microsoft's massive AI spending initiatives, stating that its projected $190 billion capital expenditure budget for 2026 should be viewed as a long-term growth investment rather than reckless spending. He compared Microsoft's AI infrastructure build-out to similar large-scale investments underway at Amazon, Alphabet, Google, and Meta.
The seventh-ranked stock, Intel, closed down 6.18%, with a turnover of $14.133 billion. Apple and Intel have reached a preliminary chip manufacturing agreement, though noted analyst Ming-Chi Kuo revealed that most of the orders are for "low-end" iPhone chips.
The eighth-ranked stock, AMD, closed down 5.69%, with a turnover of $12.335 billion. Boston hedge fund Whale Rock Capital Management recently filed a 13F form with the SEC, disclosing its portfolio changes as of the end of Q1 2026. The filing showed the fund made significant adjustments to its technology holdings, including initiating a position in AMD.
The fund noted that while NVIDIA holds a dominant position in the training market, AMD is showing momentum in catching up in the AI inference chip space. Its MI300 series, with its high cost-performance ratio, has secured procurement orders from cloud providers like Microsoft and Meta. Additionally, AMD's integrated CPU and GPU capabilities offer more flexible heterogeneous computing options for data centers.
The twelfth-ranked stock, Broadcom, closed down 3.32%, with a turnover of $7.896 billion. Broadcom lost its appeal in South Korea: it was still found to have engaged in coercive behavior in its dealings with Samsung Electronics. The Korea Fair Trade Commission determined that Broadcom threatened to stop supplying smartphone semiconductor components to force Samsung Electronics into signing a three-year long-term contract requiring annual purchases exceeding $760 million.
The eighteenth-ranked stock, Cerebras Systems, closed down 10.08%, with a turnover of $4.989 billion. According to the latest trading disclosure information, Cathie Wood's ARK Innovation ETF and ARK Next Generation Internet ETF purchased 105,616 shares of the newly listed AI chipmaker Cerebras Systems on Thursday. Based on Thursday's closing price, the combined position was valued at approximately $32.8 million.
Silicon Valley AI chip company Cerebras Systems officially listed on the Nasdaq on May 14, sparking a long-awaited tech IPO frenzy.
The company's IPO was priced at $185 per share, significantly higher than the initial expected range of $115 to $125. In the week leading up to the listing, due to overwhelming institutional demand—subscription orders exceeded the available shares by more than 20 times—Cerebras twice raised the offering price and increased the share sale size. Upon opening, the stock price surged to $350, reaching an intraday high of $386, a gain of 108%, triggering the Nasdaq's volatility circuit breaker mechanism. It ultimately closed at $311.07, up 68.2% from the offering price.
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