U.S. stock index futures rose across the board in pre-market trading on Wednesday, while major European indices also generally gained. As of press time, the Nasdaq... S&P 500 futures rose 0.61%, S&P 500 futures rose 0.34%, and Dow Jones futures rose 0.25%.
In individual stocks, AMD surged 5% in pre-market trading, projecting AI-driven revenue growth of 35% annually. AMD announced ambitious plans on Tuesday: to acquire Nvidia shares within the next five years. Seize more artificial intelligence (AI) market share, achieving data center The company aims for annual revenue of $100 billion and expects an average annual revenue growth rate of 35% over the next three to five years.
semiconductor Stocks generally rose in pre-market trading, with Micron Technology among the top gainers. Nvidia and SanDisk rose nearly 3%. SNDK shares rose more than 1%.
Cryptocurrency stocks rose in pre-market trading, with Bitmine up over 3%, Circle up over 2%, and Coinbase and Strategy up over 1%.
Spot silver rose 1% to $51 per ounce, spot gold rose 0.1% to $4,130 per ounce, and WTI crude oil fell nearly 0.4% to $60.75 per barrel. Bitcoin fell 1.4% to $103,316 per coin, and Ethereum fell more than 2.8%.
A recent Reuters survey shows that 80% of economists expect the Federal Reserve to cut its key interest rate by another 25 basis points next month to support the increasingly weak labor market. This percentage is slightly higher than in last month's survey.
This increasingly firm expectation contrasts sharply with the clear divisions among members of the Federal Open Market Committee (FOMC)—who disagree on whether another rate cut is needed this year, especially given the lack of key official data due to the longest government shutdown in history.
Last month, the Federal Reserve announced a 25-basis-point rate cut, which unusually sparked dissent from both sides. Chairman Powell subsequently warned that a December rate cut was not a foregone conclusion.
Of the 105 economists surveyed, 84 (80%) predicted that the FOMC would cut interest rates for the third consecutive time by 25 basis points on December 10, bringing rates down to 3.50%-3.75%, in line with market pricing. Another 21 expected rates to remain unchanged.
“Overall, the labor market remains relatively weak, which is one of the key reasons we believe the FOMC will continue to cut rates in December. However, the risk in December is that the data released may overturn this assessment of weakness.” – UBS Group According to Abigail Watt, an American economist at UBS.
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Goldman Sachs AI is making rapid progress in the consumer sector, but its application in enterprises is still lagging behind.
Goldman Sachs analysts say that while artificial intelligence (AI) may be changing how consumers use technology, progress in this revolution is still lagging at the enterprise level.
"Many consumer-facing applications have demonstrated the value of AI well, whether it's ChatGPT or the Claude app," said Kash Rangan, a US software equity research analyst at Goldman Sachs. "But at the enterprise and end-user level, while there are some signs of progress, it's still not quite what we expected."
Although it is a chatbot AI applications, exemplified by ChatGPT, have quickly attracted consumer attention, but businesses are adopting AI at a significantly slower pace.
Rangan pointed out that the level of AI adoption by enterprises is "far below" expectations. "The current situation is not what we expected a year or two ago, but is closer to the level of six to nine months ago," he said.
Another Goldman Sachs analyst, Eric Sheridan, a researcher specializing in US internet stocks, said that AI infrastructure development has been "stronger than expected." He added that this explosive growth reflects that generative models such as ChatGPT and Google Gemini are demanding more computing power than currently available.
memory chip The price surge is unprecedented! Morgan Stanley raises target prices for Samsung and SK Hynix.
Morgan Stanley, a major Wall Street bank A recent report titled "Memory – Maximum Pricing Power" outlines the company's latest views on the memory industry.
Morgan Stanley raised its target prices for South Korea's two major memory chip giants, Samsung Electronics and SK Hynix, in a report. This move is based on the bank's recent assessment that " the memory chip industry is about to enter a supercycle."
Specifically, Morgan Stanley set a target price of 144,000 won for Samsung Electronics (nearly 40% higher than the latest closing price of 103,100 won). The bank also predicts that the stock could rise to 175,000 won in a bull market.
The bank set a target price of 730,000 won for SK Hynix (nearly 20% higher than the latest closing price of 617,000 won) and predicted that the stock could rise to 850,000 won in a bull market.
Morgan Stanley said in its latest report that prices for dynamic random access memory (DRAM) and NAND flash memory are expected to continue to rise, driven by competition among hyperscale AI operators who are less sensitive to component costs.
Energy storage The industry is poised to ride the wave of AI! UBS: Global energy storage demand may surge by 40% next year.
UBS Securities It is said that driven by artificial intelligence data centers , the energy storage industry will enter a "boom cycle" in the next five years, as the market demand for electricity will surge, and the demand for energy storage will also rise accordingly.
UBS Securities Power & New Energy Analyst Yan Yishu predicts that global energy storage demand may grow by 40% year-on-year by 2026.
She believes that demand for AI data centers in the US is very strong, but electricity is the biggest bottleneck, so demand for energy storage will surge accordingly. Meanwhile, she predicts that demand for energy storage in emerging markets in the Middle East, Latin America, Africa, and Southeast Asia could grow at a rate of 30% to 50% or higher.
Benefiting from cloud computing Driven by the booming development of artificial intelligence, demand for data centers in the United States is currently at an all-time high, but power supply is becoming the biggest constraint due to its aging power infrastructure and regulatory hurdles.
US Stocks Focus
AMD released several updates at its Financial Analyst Day.
AMD released several updates at its Financial Analyst Day, including reiterating the theme that AI spending is unlikely to slow down anytime soon. CEO and Chairman Lisa Su stated that AMD is beginning to see signs of achieving its "tens of billions of dollars" revenue target in the data center space by 2027, thanks to its MI450 and Helios rack-mount solutions.
She added that AMD also has a “very clear” double-digit market share growth path in the data center AI market, with a compound annual growth rate of 80% over the next three to five years. Su predicts that AMD's total revenue this year will reach $35 billion and maintain a compound annual growth rate of 35% or higher over the next three to five years. The stock rose more than 5% in pre-market trading.
Tencent Music The net profit attributable to equity holders of the company in the third quarter was RMB 2.15 billion, representing a year-on-year increase of 36.0%.
Tencent Music announced its financial results for the third quarter of 2025, with total revenue of RMB 8.46 billion (US$1.19 billion), representing a year-on-year increase of 20.6%. Net profit attributable to equity holders of the company was RMB 2.15 billion (US$302 million), representing a year-on-year increase of 36.0%.
Non-IFRS net profit attributable to equity holders of the company was RMB2.41 billion (US$338 million), representing a year-on-year increase of 32.6%. Diluted earnings per ADS were RMB1.38. As of September 30, 2025, the company's cash, cash equivalents, time deposits and short-term investments totaled RMB36.08 billion (US$5.07 billion).
A "green package" for the AI era! Google builds computing power, Total provides green electricity, and the Ohio data center becomes a zero-carbon model.
Total, France’s largest energy giant, has signed a 15-year renewable electricity supply agreement with Google, the US search engine and artificial intelligence giant, to supply Google’s hyperscale AI data center in Ohio with a renewable power system based on green and clean energy.
This significant long-term agreement between Google and Total highlights the massive demand for AI computing infrastructure—both for AI training and inference—as humanity enters the AI era, and the immense electricity resources required to support this enormous computing power. Google and Microsoft... and Amazon Cloud computing giants urgently need a power system that can maintain a stable supply for many years and has clean attributes, and renewable power systems undoubtedly meet Google's strong demand.
(Article source: Hafu Securities )
