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Industry

Micron shares jump nearly 8 percent after new U.S. supply chain investment plan

Micron shares jumped sharply after the company announced new investment aimed at strengthening the U.S. semiconductor supply chain. The stock rose 7.9 percent to close at $1,023.79, regaining the $1,000 level. Micron said it will make up to $3 billion in new strategic investments and expand its U.S. investment plan through 2035. The plan includes support for GlobalWafers’ Texas operations and a 10-year silicon wafer supply agreement.

Industry

Market disappointed by Samsung Electronics results; U.S., Korean chip stocks fall

Selling spread across chip stocks on July 7 after assessments that Samsung Electronics’ results failed to meet Wall Street’s high expectations for AI demand. CNBC reported Samsung’s shares fell 8 percent despite forecasts for quarterly net profit to top Nvidia and Apple and operating profit to jump 1,800 percent. Investors judged that beating earnings was not enough for AI-related stocks, CNBC said. U.S. semiconductor names and a chip ETF also fell.

Crypto

Bitcoin bottom signal emerges as money rotates out of AI stocks

Bitcoin regained $61,000 as investors moved into bitcoin and gold after weak U.S. jobs data reduced expectations of a near-term Federal Reserve rate hike. U.S. nonfarm payrolls rose 57,000 in June, well below forecasts, and prior months were revised lower. Rate-hike odds for September fell, oil steadied below $70, and some AI-related semiconductor shares slid intraday. On-chain metrics cited by CryptoQuant suggested a possible cycle bottom.