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BlockBeats News, June 8th. NVIDIA CEO Jensen Huang stated that the company is collaborating with Samsung Electronics to develop custom ASIC (Application-Specific Integrated Circuit) chips, further expanding its AI infrastructure product portfolio. ASIC chips are optimized for specific workloads and are seen as a key complement to GPUs. Goldman Sachs previously predicted in May last year that by 2027, the demand for ASIC chips is expected to be equivalent to the GPU market. With the continuous growth in AI computational power demand, tech giants and cloud service providers are increasing their investment in custom chips. This collaboration with Samsung Electronics signifies NVIDIA's further expansion of its ecosystem in the AI chip sector. At the time of writing, NVIDIA's pre-market trading has risen by 2.75% to $210.65.

Glonghui, June 8｜Intel surged nearly 12% in pre-market trading; it is reported that Nvidia is evaluating Intel's advanced packaging technology and 18A process for future chip production. Google and Nvidia are considering designating Intel as a backup chip manufacturing partner.

⑴ The Nasdaq Composite Index fell by more than 4% last Friday, marking the largest single-day drop since April of last year; the "SOX" semiconductor manufacturers index plummeted 10%, making it the biggest drop since the 2020 pandemic and the fourth largest decline since the index was launched in 1994. U.S. stock market capitalization evaporated by approximately 2 trillion dollars, with more than half coming from chip stocks. The trigger for this sell-off was not bad news, but rather robust data showing May employment growth reached 172,000—double expectations—which Wall Street regards as a warning signal that "interest rates will rise."⑵ Increasingly, signs show that the AI craze has become uncontrollable. Goldman Sachs predicts that, between 2025 and 2030, the AI capital expenditure of the four major hyperscale tech companies will reach 4.5 trillion dollars. The listings of SpaceX, Anthropic, and OpenAI are expected to bring close to 4 trillion dollars in market valuation, yet their annual revenues are less than 20 billion dollars, just over 20 billion dollars, and less than 5 billion dollars, respectively. Citi's global "bear market checklist" has reached its highest bubble level since the 2008 global financial crisis, with 10 of the 18 global indicators flashing red, and 11.5 items lit up on the U.S. list.⑶ The bursting of bubbles often requires a catalyst, and funding costs are one such factor. As bond yields rise, the market has almost fully priced in expectations for the Federal Reserve to raise rates by 25 basis points before December, whereas traders previously expected nearly three rate cuts. Historical experience suggests that rising interest rates will test economic growth as well as the momentum of the stock market surge. Attention will be paid to whether June's CPI and PPI data can ease concerns about further rate hikes, and whether earnings from AI-related companies can support current valuations.