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U.S. stocks closed modestly higher as AI enthusiasm, led by strong gains in HPE and Marvell on booming AI server demand, outweighed lingering Middle East jitters.

Investors are increasingly buying AI stocks with strong momentum and solid fundamentals.
Alphabet’s large AI spending plans may pressure other big cloud and hyperscale tech names.
Several commentators say the AI boom should be embraced because it can boost productivity and create new jobs.
Anthropic has confidentially filed for an IPO, adding more evidence that the AI sector is moving toward major public-market activity.
Microsoft, Google, and Meta continue to expand AI efforts, from new models and agents to heavier infrastructure spending and product changes.
Palo Alto Networks, GitLab, HPE, and other companies reported earnings and guidance beats, showing strong demand in enterprise tech and AI-related businesses.
HPE and Marvell have become standout AI plays, with soaring shares driven by record backlogs, booming server demand, and bullish comments from Nvidia’s CEO.
AI is playing a major role in the broader stock market rally, with the S&P 500 being supported heavily by AI enthusiasm.
At the same time, some analysts warn that AI stocks may be due for a momentum reversal and should be watched carefully.
Beyond tech, headlines also highlighted geopolitical risk, oil-market concerns, crypto weakness, and a few notable corporate and consumer stories across markets.

Hong Kong stocks rallied sharply, with the Hang Seng Index reclaiming the 26,000 level and surging 640 points as Tencent jumped more than 10% on strong market sentiment.

Eurozone May preliminary HICP inflation rose 3.2% year on year, matching market expectations.
Bitcoin fell below US$70,000, hitting a near two-month low as continued outflows from U.S. spot Bitcoin ETFs added pressure.
WeRide partnered with Uber to launch Spain’s first commercial Robotaxi pilot service.
Hong Kong retail sales value growth slowed in April to 8.6% year on year, missing expectations.
Citi said Nvidia’s Vera Rubin is entering full commercial production and sees its Vera CPU having a positive impact on Lenovo.
Shougang Langze’s grey-market trading opened at HK$14, about 4.1% below its IPO price.
Hong Kong’s Hang Seng Index rebounded above 26,000, closing up 640 points, led by Tencent’s more-than-10% surge.
Bank of China International upgraded Meituan to “Buy” and raised its target price to HK$110.
Citi turned more bullish on lithium prices and lifted target prices for Ganfeng Lithium and Tianqi Lithium.
DeepSeek-V4 model prices were sharply cut by Tencent Cloud, while Unitree said cumulative production of one humanoid robot model has reached 11,000 units.

Tokyo stocks plunged more than 1,300 yen at one point as profit-taking dominated, highlighting a sharp risk-off mood in the JP market.

English translation: The headlines report a mix of market, politics, corporate, and social news, including stock and currency moves, rising oil prices, government and central bank-related remarks, major company leadership changes, and business initiatives across insurance, real estate, retail, logistics, farming, and utilities.
Risk management and leadership: Mitsui Sumitomo Insurance’s president, Hiroshi Miyama, will take office as president of the new merged company, emphasizing risk avoidance through better data use.
Government and global supply chains: Prime Minister Sanae Takaichi met with the president of the World Bank Group and showed interest in cooperating on critical minerals and strengthening supply chains.
Tokyo stock market decline: The Tokyo Stock Exchange fell sharply at one point, dropping more than 1,300 yen, as profit-taking dominated, and the midday Nikkei average stood at 65,833 yen.
Foreign exchange intervention concerns: Finance Minister Satsuki Katayama said authorities would respond appropriately at any time, as the yen weakened again after intervention and total intervention-related spending exceeded 11 trillion yen.
Yen weakness and safe-haven buying: The dollar rose to the upper 159-yen range in Tokyo and New York because progress in U.S.-Iran talks remained unclear, leading to “dollar buying in times of emergency.”
U.S. markets and expectations: U.S. stocks continued rising to record highs on hopes that U.S.-Iran negotiations would advance, with President Trump saying the talks were moving at a fast pace.
Oil market surge: New York crude oil rebounded sharply into the 92-dollar range after reports that U.S.-Iran dialogue had stopped, raising fears about supply disruptions due to tensions in the Middle East.
Corporate power shift: SoftBank Group’s market capitalization surpassed Toyota’s and became the largest in Japan, symbolizing a structural shift toward AI-driven investment flows.
Other notable domestic developments: Court action blocked voting rights for Yuji Murakami’s side in Fuji Media Holdings, industry leaders called for a long-term nuclear policy vision, TEPCO’s next chairman stressed responsibility for Fukushima, and companies such as APA Group, Skymark, FamilyMart, Amazon, Watami, and others announced new plans in travel, packaging, logistics, agriculture, and supply stability.

Bitcoin is facing a choppy summer as capital rotates into high-flying AI stocks, with analysts warning that BTC could struggle for momentum while market attention shifts elsewhere.

Coinbase is supporting Ethena before launching a new savings product aimed at its 100 million exchange users.
Galaxy is moving into institutional prediction markets after completing a $10 million trade with Arca.
Tom Lee says ether could surge to $250,000 as corporate validators gain more influence over the network.
K33 warns that Bitcoin may face a choppy summer because capital is rotating into high-performing AI stocks.
Some analysts argue Bitcoin is still struggling with an identity problem, and DeFi developers should stop mimicking tech-bro culture.
An expert report says Hyperliquid correctly anticipated 80% of a major oil move before traditional exchanges even opened.
One decentralized cloud provider says everyday people may be able to earn money by providing services for AI.
Gary Vaynerchuk believes AI is creating the biggest entrepreneurial opportunity ever seen.
FalconX reports that Hyperliquid has sometimes surpassed Ethereum in trading volume as major capital shifts around.
Bitcoin’s long-running “identity crisis” remains a central theme in ongoing market and developer discussions.

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