Earnings Recap
Alphabet's Q2 earnings beat expectations, driven by a surge in Cloud revenue, which was up 82% [1]. In contrast, Tesla's Q2 earnings were disappointing, with margins deteriorating despite solid deliveries [3]. Apple's valuation is considered stretched, making it a Sell [2].
Market Outlook
The market remains cautious ahead of key earnings, with rising oil prices and geopolitical tensions adding to inflation concerns [10]. However, AI-driven optimism continues to support the market, with Google's AI spending spree paying off [5].
Key Developments
NVIDIA is partnering with X-energy and Amazon Web Services on an AI-accelerated advanced nuclear deployment project [9]. Additionally, the memory chip market is experiencing a surge in demand, with companies like Micron Technology and Samsung reaching $1 trillion or more in market cap [11].