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Tesla Rises Ahead Of Crucial Q2 Deliveries, Rivian Affirms Goal After Volkswagen Deal, Nikola Ropes In Key Customer And More: Biggest EV Stories Of The Week
The electric-vehicle space saw a major deal this week, which, along with the broader market strength, imparted some buoyancy. However, stocks closed the week on a mixed note.Here are the key events t
Express News | Xpeng: AI-driven driving challenges the first Guinness World Record.
US stocks closed lower on the last day of June with all three major indexes down. The AI-driven Nasdaq rose 18% in the first half of the year, while Nvidia soared 149%.
After hitting a new high, the S&P and Dow fell together, possibly due to Goldman Sachs and JPMorgan bearish on US stocks. Amazon, Google, and Microsoft fell from their recent highs, while most chip stocks rose. However, Nvidia rose 3% before falling 0.4% as the AI hype drove the Nasdaq up 18% and the S&P up 14.5% in the first half of the year.
Express News | He Xiaopeng: Next year, manufacturers who do not use AI and continue to use algorithms will fall behind.
U.S. stocks closed with a thrilling increase in all three indexes, with most technology stocks rising. Amazon rose more than 2%, once again reaching a historic new high.
S&P 500 rose 0.09%, Dow Jones rose 0.09%, and Nasdaq rose 0.3%; chip stocks continued to decline, with Nvidia falling nearly 2%; Chinese concept stocks weakened, with Xiaopeng falling nearly 7% and JD.com falling more than 4%.
The EV Era Continues To Be All About Joining Forces
On Tuesday, Volkswagen AG (OTC:VWAGY) revealed it will be providing Rivian Automotive Inc (NASDAQ:RIVN) with a cash injection of $5 billion. Together, Rivian and Volkswagen are embarking on a joint ve