NVIDIA, the top stock by trading volume on Monday, closed up 1.63%, with a turnover of $39.499 billion. NVIDIA now anticipates that its Blackwell and Rubin chips will generate at least $1 trillion in revenue by the end of 2027. The company had previously projected sales of these chips to reach $500 billion by the end of 2026. CEO Jensen Huang announced the updated forecast during a company event.
Tesla, the second highest by volume, closed up 1.11%, with a turnover of $22.866 billion. Elon Musk's AI startup, xAI, is recruiting bankers and private credit personnel to enhance the financial strategy capabilities of its Grok chatbot. This move places it among competitors pushing the development of software for investment professionals.
According to a series of job postings on xAI's website, the company is actively seeking Wall Street bankers, portfolio managers, traders, and credit analysts to join its data labeling team that trains Grok. These experts will be responsible for teaching the AI system to think through financial modeling, including leveraged loan syndication underwriting, distressed asset investment, and niche bonds such as mortgage-backed securities and collateralized loan obligations (CLOs). The postings also indicate the company is hiring financial specialists in cryptocurrency and stock markets.
Micron Technology, the third highest by volume, closed up 3.68%, with a turnover of $18.848 billion. Micron recently announced plans to construct a second semiconductor fabrication facility at a site in Taiwan, acquired from Powerchip Semiconductor Manufacturing Corp, to expand production capacity for advanced memory chips used in AI systems.
The new facility will be built in Tongluo, Miaoli County, Taiwan, and will aid in producing cutting-edge DRAM products like high-bandwidth memory (HBM). HBM is becoming increasingly common with the development of AI servers and data center infrastructure.
Micron announced it has completed the acquisition of Powerchip's Tongluo P5 plant site. The new fab will be roughly comparable in size to the company's existing facility at the same location. This expansion is intended to bolster the company's production capacity as rapid AI application growth drives sustained demand for memory chips.
High-bandwidth memory is becoming a critical component for complex computing systems, especially those designed for training AI and processing massive datasets. To meet demand from cloud providers and IT firms building AI infrastructure, chipmakers are investing heavily in new fabs.
Micron stated that construction of the new fab is expected to commence by the end of the 2026 fiscal year. This marks a new phase in the company's global plans to expand memory manufacturing.
SanDisk, the fourth highest by volume, closed up 6.35%, with a turnover of $13.568 billion. US memory stock concepts saw broad gains on Monday.
Meta Platforms, the seventh highest by volume, closed up 2.33%, with a turnover of $9.242 billion. Meta will pay up to $27 billion over the next five years to use the AI infrastructure of cloud services provider Nebius Group NV. The company is making heavy investments to compete with industry leaders in frontier AI models.
Dutch company Nebius stated that it will begin providing Meta with $12 billion worth of dedicated computing power starting in early 2027. Meta has also committed to purchasing up to an additional $15 billion in computing power from facilities Nebius is building for third-party clients. Nebius is a so-called "Neocloud" company that operates data centers and has a strategic partnership with NVIDIA.
This expenditure is one of the largest single contracts signed by Meta, highlighting the Instagram and Facebook parent company's full-court press to secure more computing power for AI product development. Last year, Meta signed another agreement with Nebius worth $3 billion.
Anticipating explosive growth in AI services in the coming years, Meta and some of its large tech peers are projected to spend approximately $650 billion in 2026 on data center construction and other infrastructure procurement.
Intel, the twelfth highest by volume, closed down 0.02%, with a turnover of $5.388 billion. Dave Guzzi, Intel's global channel chief, recently stated that the current CPU supply shortage is broadly affecting all partners, including cloud service providers, OEMs, and system integrators. While price increases are far less extreme than in the memory market, hikes are inevitable. Guzzi mentioned that partners are generally receiving lower volumes than expected, and neither cloud providers, OEMs, nor system integrators are able to obtain their anticipated supply quantities.
Nebius, the fifteenth highest by volume, closed up 14.96%, with a turnover of $4.416 billion. This follows the signing of the $27 billion AI infrastructure agreement with Meta.
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