NVIDIA (NASDAQ: NVDA) claimed the top spot in Friday's US stock trading volume, closing down 4.57% with $43.054 billion in turnover. The decline came as traders and strategists intensified their bets on a Federal Reserve rate hike this year following hawkish remarks from Fed Chair Warsh, with market pricing now reflecting a 57% probability of a rate increase before year-end. Barclays economists anticipate the Fed will implement rate hikes in both September and December. Additionally, Lambda, an AI cloud computing provider backed by NVIDIA, has secured approximately $1 billion in private short-term debt financing to acquire computing chips, supporting its collaboration project with Microsoft.
Micron Technology ranked fourth, slipping 0.27% with $21.225 billion in trading volume. Microsoft took the fifth position, advancing 1.68% to $15.201 billion in turnover. An internal memo distributed by Noel Walsh, Microsoft's head of development, revealed that numerous employees continue to raise concerns regarding energy consumption, water usage, carbon emissions, and the impact of large-scale data centers on local communities.
Amazon.com (NASDAQ: AMZN) surged 3.97% to rank sixth with $13.095 billion in trading volume. The e-commerce giant announced long-term agreements to purchase electricity from four wind farms in Sweden, aimed at meeting power requirements during the expansion of its data centers across Nordic countries. These deals will add nearly 200 megawatts of capacity, and once fully operational, Amazon's power supply in Sweden is expected to exceed 1 gigawatt.
Apple climbed 1.63% to secure the seventh position with $12.336 billion in turnover. On Friday, Apple raised the monthly fee for its Apple TV streaming service to $14.99, or $119 annually, up from the previous $12.99 per month or $99 per year. Apple TV remains part of the Apple One bundled subscription, which also includes iCloud storage, Apple Music, and other services. The individual tier of Apple One increased from $19.95 to $21.95 per month.
SanDisk finished flat in eighth place with $12.057 billion in trading volume, while Tesla declined 1.71% to rank ninth with $11.532 billion in turnover. Marvell Technology dropped sharply by 10.28% to secure the tenth position with $10.7621 billion in trading volume. The chipmaker reported second-quarter net revenue of $2.74 billion, up 37% year-over-year, surpassing analyst expectations of $2.71 billion. Adjusted earnings per share came in at $0.94, compared to $0.67 in the same period last year and exceeding the $0.93 analyst forecast. Looking ahead, Marvell projects third-quarter adjusted EPS in the range of $1.05 to $1.15, against the $1.07 analyst consensus.
Meta Platforms rose 1.21% to rank twelfth with $9.274 billion in trading volume. Salesforce gained 1.57% to claim thirteenth place with $8.882 billion in turnover. Alphabet climbed 1.74% to secure the fourteenth position with $8.766 billion in trading volume. The Google parent has agreed to pay £260 million (approximately $354 million) to settle a UK class-action lawsuit alleging the company abused its dominant market position by charging app developers excessive commissions. Intel slipped 2.85% to rank fifteenth with $7.7981 billion in trading volume, while SpaceX edged up 0.45% to sixteenth place with $7.756 billion in turnover.
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