Stock Movers: Alphabet Surpasses $3 Trillion, Uranium ETF Surges, CoreWeave Rallies on Nvidia Deal

Alphabet Reaches $3 Trillion Market Cap

• 📈 Alphabet (GOOGL), Google's parent company, has crossed the $3 trillion market capitalization milestone.
• 🚀 This achievement places Alphabet alongside Nvidia, Microsoft, and Apple as the only publicly traded companies above this valuation.
• 💡 Despite crossing this milestone, technical indicators like the RSI suggest the stock may be overbought, raising questions about the sustainability of its recent run.
• 🔑 The stock has seen a significant surge, up over 70% from its April low, adding approximately $1.2 trillion in market value.

Global X Uranium ETF Surges on Policy News

• ⚛️ The Global X Uranium ETF (URA) rallied significantly, up 8% today and 70% year-to-date.
• 🇺🇸 US Energy Secretary Chris Wright indicated the US should boost its strategic uranium reserve to reduce reliance on Russian supplies.
• ⚡ This news supports the long-term prospects of nuclear power generation, driving demand for uranium.
• 📈 The ETF is currently at its highest level since 2011, showing a 125% increase since early April.

CoreWeave Rallies on Major Nvidia Cloud Services Deal

• ☁️ CoreWeave (CRWV) shares jumped approximately 8% following the announcement that Nvidia will purchase $6.3 billion in cloud services.
• 🤝 This deal, part of Nvidia's push to accelerate AI adoption, runs through 2032 and guarantees Nvidia will buy excess capacity.
• 💡 CoreWeave is a key provider of AI infrastructure, securing billions in deals with major players like OpenAI and Microsoft in addition to Nvidia.
• 🚀 Since its March IPO, CoreWeave's stock has experienced substantial growth, rising nearly 200%.