Nvidia (NVDA.US) CEO Jensen Huang arrived in Taipei today (22nd) to visit TSMC (TSM.US) Chairman Mark Liu. Huang said that he considers TSMC to be one of the greatest companies in human history, and anyone who buys TSMC's stock is very smart, as it is a very good investment.

Previously, US President Donald Trump said that Nvidia and AMD (AMD.US) agreed to remit 15% of their chip sales revenue to China to the US government. Huang expressed his deep gratitude to the US government for approving the export of its H20 chips to China, as Chinese customers are also expanding their AI business.

Therefore, he believed that the demand is very huge, and that the export of its H20 chips to China does not pose a national security issue, benefiting both the US and China markets.
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UBS released a report projecting Nvidia (NVDA.US) will achieve approximately US$46 billion in revenue for 2FQ, with guidance for 3FQ expected to be US$54-55 billion (excluding China) or US$57 billion (including China).

Demand in the Chinese market for H20 is uncertain, the broker said, while assuming an increase of several billion US dollars in revenue QoQ. Although licensing fees may impact the gross margin by 50-60 bps, UBS believed Nvidia is willing to make this trade-off. The broker stayed optimistic about Nvidia's gross margin at 73.5% in 3FQ.

UBS raised Nvidia's EPS forecast for FY2026-28 to US$4.53/ US$6.85/ US$7.05, and increased the target price from US$175 to US$205, with a Buy rating maintained.
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Nvidia (NVDA.US) CEO Jensen Huang arrived in Taipei today (22nd), and said that the purpose of this visit is to visit TSMC (TSM.US). He will stay for only a few hours and leave after having dinner with TSMC's management.

It is rumored that Nvidia is developing an AI chip named B30A for the Chinese market, which is more powerful than the H20 chip. Huang said that the company is negotiating with the US regarding the supply of successor to its H20 chip to China. It is still too early to discuss the matter publicly at present.
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Nvidia (NVDA.US) is reported to have instructed component suppliers like Samsung to cease production related to the H20 AI chip, as China has urged domestic companies to avoid using H20.

Chip stocks rallied on the news, with HUA HONG SEMI (01347.HK) once reaching a peak of HKD51.3. It last traded at HKD51.2, up 7.74%, with a trading volume of 20.5237 million shares, involving HKD1.016 billion.

SMIC (00981.HK) opened 2.22% higher today and once peaked at HKD55.3. It was last at HKD55.2, up 6.77%, with a trading volume of 73.3028 million shares, involving HKD3.943 billion.
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Several Wall Street analysts raised their target price expectations for NVIDIA (NVDA.US) ahead of the company's quarterly earnings announcement on August 27.

This week alone, at least nine analysts uplifted their 12-month target price, with the average target price rising by 3% to nearly US$194, setting a new high. This suggested there is still over 10% upside potential for NVIDIA, compared with Wednesday's closing price.

This week's institutions raising NVIDIA's target price included UBS and Morgan Stanley. Based on Bloomberg data, nearly 90% of analysts covering NVIDIA gave it a Buy or equivalent rating.
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The number of initial jobless claims in the second week of August in the US was way more than expectations, drawing market attention to Federal Reserve Chairman Jerome Powell's speech on Friday. US stocks continued to weaken on Thursday.

The DJIA slid by as much as 359 points, ultimately closing down 152 points or 0.3% at 44,785. The S&P 500 fell 25 points or 0.4%, closing at 6,370, marking its fifth consecutive day of decline. The Nasdaq closed down 72 points or 0.3% at 21,100.

Among DJIA constituents, Walmart (WMT.US) logged lower-than-expected earnings for 2FQ, with tariff costs continuing to rise, leading to a 4.5% slump in its stock price.

Heavyweight techs softened, with Tesla (TSLA.US) and Meta (META.US) both down over 1%; Amazon (AMZN.US), Apple (AAPL.US), and Nvidia (NVDA.US) down less than 1%.

Some Chinese ADRs escalated, with NIO (NIO.US) up 9.3% and XPeng Motors (XPEV.US) up 11.7%. Miniso (MNSO.US) spiked 6.4%, despite a 22.6% drop in interim net profit with increased dividend.
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In June, handset shipments in the Chinese market slipped by 9.3% YoY to 22.598 million units, according to a handset market operation analysis report released by the China Academy of Information and Communications Technology.

Among them, 5G mobile phones dropped by 16.7% YoY to 18.436 million units, representing 81.6% of the total handset shipments during the same period.

Likewise, shipments of China-made handsets declined by 6.4% YoY to 20.627 million units, accounting for 91.3% of the total handset shipments during the same period.
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The S&P 500, hijacked by the broad decline in techs, fell for the fourth consecutive day, whereas the Nasdaq also recorded its second consecutive day of slump. The S&P 500 closed down 15 points or 0.2% at 6,395. The Nasdaq dropped 142 points or 0.7% to 21,172, being the worst among the three major US stock indices. Investors weighed the mixed earnings results of large retailers, with the DJIA being the only index to rise, closing slightly up 16 points at 44,938.

US market bellwether NVIDIA (NVDA.US) picked up to almost flat after an early slip of over 3%. Elon Musk stated that Tesla's (TSLA.US) six-seater Model YL may never be produced in the US, and the stock sank 1.6%.

The Trump administration is considering joining stakes in chip manufacturers which receive funding under the Chip Act, prompting chip stocks to subside. Intel (INTC.US) fell off 7%, while AMD (AMD.US) and Broadcom (AVGO.US) both dipped about 1%.
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Retail sales in the passenger car market in China numbered 866,000 units in the first seventeen days of August, marking a 2% YoY rise and an 8% growth compared to the same period last month, data released by the China Passenger Car Association (CPCA) showed. Cumulative retail sales for this year have so far reached 13.611 million units, representing a 10% YoY hike.

During this period, retail sales in the new energy passenger vehicle market in China hit 502,000 units, reflecting a 9% YoY increase and a 12% growth compared to the same period last month. The retail penetration rate of the new energy passenger vehicle market was 58%. Cumulative retail sales for this year have so far reached 6.958 million units, showing a 28% YoY elevation.
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He Xiaopeng, Chairman of XPENG-W (09868.HK)(XPEV.US), stated in its 2Q25 earnings conference call that XPENG-W's vehicles supporting L4 autonomous driving will achieve mass production in 2026, according to Chinese media.

Along with the mass production of L4 models, XPENG-W planned to start pilot operations and services of Robotaxi in certain regions after obtaining relevant approvals.

He revealed in October 2024 that XPENG-W is accelerating the advancement of its Robotaxi business, planning to officially launch related services in 2026. However, unlike competitors such as Tesla (TSLA.US), XPENG-W will focus on the research and development of Robotaxi products without involving operational link.

The core goal is to enhance vehicle performance in driving and parking scenarios and optimize the internal and external environment to improve passenger experience.
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