To The Moon

🧩 The U.S. stock market has returned to an upward trajectory. Is a rate cut in September really a “done deal”?

🔍 $Navitas Semiconductor Corp(NVTS)$/$SkyWater Technology, Inc.(SKYT)$/$NEBIUS(NBIS)$: Increasing investment in the U.S. semiconductor supply chain.

🧘 Stay tuned, supercharge purchasing power through CashBoost!

Bringing It All Back Home

On Friday, $Globalstar(GSAT)$ surged 13% after reporting better-than-expected performance and turning a profit, which was discussed in the August 8 episode of NEW ALPHA.

$AppLovin Corporation(APP)$ gained 4.3%, and $Astera Labs, Inc.(ALAB)$ rose 4.9%, both exceeding quarterly earnings expectations, as covered in the July 25 episode of NEW ALPHA.

| Made in U.S.A. only

Trump stated he would impose a 100% tariff on imports of semiconductors and chips, except for companies that manufacture domestically in the United States.

On August 10, 2025, Trump further clarified the policy details, stating that chip companies failing to comply with U.S.-based manufacturing plans would face retroactive tariffs, aiming to promote the return of manufacturing to the U.S. $Apple(AAPL)$ became a key exemption due to its commitment to an additional $100 billion investment.

$Micron Technology(MU)$ , a crucial supplier for advanced AI data layers, also benefited from this exemption policy due to its commitment to expanding U.S. manufacturing capacity. MU announced plans to invest $200 billion in increasing its manufacturing capabilities in the U.S. The company has rapidly emerged as a critical supplier for AI data layers, with its high-performance HBM memory and SSD storage playing a central role in AI training and inference.

The U.S. manufacturing reshoring trend presents significant investment opportunities for the technology supply chain. Potential companies worth attention include $Navitas Semiconductor Corp(NVTS)$/$SkyWater Technology, Inc.(SKYT)$/$NEBIUS(NBIS)$.

| Market recap

On August 9, the three major U.S. stock indices closed higher collectively. $NASDAQ(.IXIC)$ rose 0.98%, with a weekly gain of 3.87%. $S&P 500(.SPX)$ climbed 0.78%, posting a 2.43% weekly increase.

Tech stocks were broadly higher, with $Apple(AAPL)$ surging more than 4% and posting a 13% weekly gain, marking its best weekly performance since July 2020. $Tesla Motors(TSLA)$ rose over 2%, while $NVIDIA(NVDA)$ gained more than 1%.

Megacaps - Progress made

$Apple(AAPL)$ ’s stock price saw a significant surge, leading the tech sector's broader rally. Market optimism around its upcoming product releases, coupled with solid financial performance, positioned AAPL as one of the main drivers behind Nasdaq’s record close.

$Tesla Motors(TSLA)$ 's stock price continues its upward trend, driven by market optimism regarding advancements in its autonomous driving technology. Elon Musk has dissolved the Dojo team to shift focus toward the development of AI5 and AI6 chips, which are designed for FSD, the Optimus humanoid robot, and next-generation AI chips for data center training. Developing and scaling two distinct AI chip designs (Dojo-specific chips and vehicle FSD chips) would dilute Tesla's resources, including funding, engineering teams, and time. By concentrating resources, relying on established external manufacturers, and focusing on a more generalized chip design, Tesla can accelerate the progress of FSD and Optimus development.

Fed watch

Looking forward, are Economic Indicators still a focus?

On August 11, CME's “FedWatch” tool revealed that the probability of the Federal Reserve keeping rates unchanged in September stood at 9.3%, while the likelihood of a 25-basis-point rate cut reached 90.7%. Although the market currently views a September rate cut as nearly certain, many uncertainties remain.

Upcoming economic data will play a critical role in the decision-making process for the September meeting, particularly in addressing how tariffs impact inflation outcomes. If U.S. inflation data comes in higher than expected, it could create hesitancy among investors and disrupt the sustained months-long rally in U.S. stocks, reigniting fears of stagflation.

Investors may shy away from risk, but the market won’t. Any “overly consistent expectations” can always serve as a reason for a market correction.

Top movers

On Friday, $Globalstar(GSAT)$ surged 13% after reporting better-than-expected performance and turning a profit, which was discussed in the August 8 episode of NEW ALPHA.

$AppLovin Corporation(APP)$ gained 4.3%, and $Astera Labs, Inc.(ALAB)$ rose 4.9%, both exceeding quarterly earnings expectations, as covered in the July 25 episode of NEW ALPHA.

$SoundHound AI Inc(SOUN)$ skyrocketed 26% following earnings that beat estimates and an upward revision of its full-year guidance.

$BitMine Immersion Technologies Inc.(BMNR)$ soared 25% after former President Trump signed an executive order on August 7 allowing alternative assets, including cryptocurrencies, to be included in 401(k) retirement accounts. Ethereum’s price broke past $4,000, and BitMine Immersion, known as an Ethereum reserve company, announced on August 4 that it holds over 833,000 ETH.

| Chain effect: Beneficiaries in the chip supply chain

Tariffs are aimed at bolstering domestic chip production capacities in key sectors such as industrial, automotive, and defense applications. Semiconductor factories are highly promising and represent a business type with long-term growth potential. Beneficiaries in the supply chain include $Navitas Semiconductor Corp(NVTS)$, $SkyWater Technology, Inc.(SKYT)$, and $NEBIUS(NBIS)$, which leverage their respective technological advantages and industry positions to secure a foothold in the future market.

NVTS

$Navitas Semiconductor Corp(NVTS)$ is a global leader in GaN (gallium nitride) chip production, maintaining its dominance in high-end GaN fast-charging markets. The company’s GaNSense Control IC features transient voltage breakdown protection up to 800V and eliminates PCB hotspots, offering top-tier efficiency in a highly compact package.

GaN devices face a multi-billion-dollar market opportunity. Traditional silicon-based materials are approaching their performance limits, while increasing demands for high efficiency drive the rapid growth of third-generation semiconductors like GaN. In consumer electronics, the power demands of AI smartphones, AI PCs, and other AI-enabled devices are rising. GaN solutions reduce charger size by 60% compared to silicon-based alternatives, driving rapid growth in the GaN charger market. This can further shrink charger sizes, creating a multi-billion-dollar market opportunity for GaN devices. As automotive intelligence continues to advance, the industry’s growth prospects remain untapped.

In the Hong Kong stock market, China’s GaN chip producer $INNOSCIENCE(02577)$ became an $NVIDIA(NVDA)$ partner and was included in the AI data center 800 VDC power supply collaboration list, gaining nearly 55% this month.

SKYT

$SkyWater Technology, Inc.(SKYT)$ is a key player in the fast-growing semiconductor market, collaborating with fabless companies, IDMs, and OEMs to deliver solutions across various industries, including aerospace, defense, and automotive.

SkyWater operates a domestic foundry in the U.S., specializing in defense and advanced packaging, making it the country’s only DMEA-accredited Category 1A trusted foundry, which gives it a strategic edge in securing government contracts. On August 6, SkyWater reported Q2 2025 revenue of $59.1 million, reaching the top end of expectations, and projected Q3 sales between $130 million and $141 million, significantly exceeding market forecasts.

On June 30, the company completed its acquisition of Infineon’s Fab 25 plant, which is expected to contribute at least $300 million annually in revenue and deliver immediate positive cash flow. Future growth is anticipated, with quantum computing and advanced packaging serving as key drivers.

NBIS

$NEBIUS(NBIS)$ is a computing power leasing company focusing on AI cloud infrastructure services, with business operations similar to $CoreWeave, Inc.(CRWV)$ (up 7% on Friday).

Dated back in July 2024, due to sanctions related to the Russia-Ukraine conflict, Yandex, often referred to as “Russia’s Google,” underwent a business restructure. The company sold its Russian-based operations to a Russian consortium, splitting its assets into domestic and international businesses. The international segment was renamed Nebius Group, employing approximately 1,000 former Yandex staff.

On August 7, Nebius announced Q2 2025 earnings of $105.1 million, a 625% year-on-year increase, significantly exceeding market expectations. Its core AI cloud business achieved positive adjusted EBITDA ahead of schedule.

Management raised its 2025 annual recurring revenue (ARR) guidance from $750 million–$1 billion to $900 million–$1.1 billion, reinforcing growth expectations. In Q2, the company added major clients such as Cloudflare and Shopify. By the end of the quarter, ARR reached $430 million, compared to $249 million in Q1.

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