Monday's top-traded US stock was Micron Technology (NASDAQ: MU), which closed up 4.13% with $33.084 billion in transactions. Elon Musk recently took to social media to directly state that memory will become the core constraint of the autonomous AI era, explicitly expressing confidence in the long-term growth prospects of three storage giants: Micron Technology, SanDisk Corp. (NASDAQ: SNDK), and SK Hynix. Goldman Sachs forecasts that by 2030, global autonomous AI's monthly token consumption will reach 120 quintillion, 24 times the level projected for early 2026, suggesting storage demand is poised for near-unlimited expansion.
The second-highest traded stock was SanDisk Corp., which closed up 8.88% with $30.927 billion in transactions. Fourth-ranked NVIDIA (NASDAQ: NVDA) fell 0.07% with $20.543 billion traded. According to a financial filing, NVIDIA has agreed to invest up to $105 billion to support a massive new data center campus in Ohio. The facility will be leased by OpenAI, marking a deepening collaboration between the two dominant forces driving the artificial intelligence boom. OpenAI announced Monday that it has reached an agreement to secure up to approximately 8 gigawatts of computing power from the campus in Pike County, with the first 800 megawatts expected to come online by 2028. One gigawatt of power is sufficient to supply up to 750,000 American homes at any given time.
Sixth-ranked SpaceX closed up 4.45% with $16.989 billion in transactions. Latest data reveals that family offices of ultra-high-net-worth individuals from the Americas, Europe, and the Middle East have collectively built multibillion-dollar positions in SpaceX. Based on data compiled from 13F regulatory filings, as of the end of June, Tao Capital, the family office of Hyatt hotel heir Nick Pritzker, held approximately $1.8 billion worth of SpaceX stock. BlueCrest Capital, founded by Michael Platt, and an investment vehicle tied to Brazil's Moreira Salles financial family each disclosed SpaceX holdings exceeding $100 million.
Seventh-ranked Microsoft (NASDAQ: MSFT) declined 3.04% with $13.659 billion traded. The corporate bond issuance code-named "Project Odyssey" is expected to be increased to $3.9 billion. This data center financing bond, linked to Microsoft, offers yields approaching junk-bond levels, with market subscription demand already exceeding twice the issuance target. Sources say the bonds are being issued by a subsidiary of QTS Realty Trust LLC, which is partially owned by Blackstone Group LP (NYSE: BX), to fund a project in Georgia. According to insiders, after several days of roadshows, market demand surpassed $8 billion, creating room to add approximately $1 billion to the bond's size.
Eleventh-ranked Meta Platforms, Inc. (NASDAQ: META) dropped 3.54% with $9.674 billion traded. A major trial against Meta officially commenced this week at the US Federal Court in Oakland, California. Attorneys general from California, Colorado, Kentucky, and New Jersey accuse Meta of deliberately designing Facebook and Instagram features to addict teenagers, while misleading the public about platform safety, and allegedly violating the Children's Online Privacy Protection Act (COPPA). Plaintiffs are seeking up to $1.4 trillion in damages—nearly the company's market capitalization—along with mandatory product redesigns. Mark Zuckerberg and Instagram chief Adam Mosseri are expected to testify.
Seventeenth-ranked Reddit (NYSE: RDDT) fell 7.63% with $6.263 billion traded. Reddit is set to join the S&P 500 index this week through an unscheduled adjustment. The company's recently reported earnings showed revenue growth exceeding 60% for the eighth consecutive quarter, with second-quarter revenue up 61% year-over-year to $805 million and net income attributable to shareholders surging 183% to $253 million, reflecting strong overall financial performance.
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