WS #8719
The Middle East conflict continues to escalate, with Israel launching massive airstrikes across southern Lebanon and ordering strikes on Beirut suburbs, while the IRGC conducted retaliatory strikes against US targets that were intercepted by Kuwaiti defenses. This dual escalation confirms the prior narrative of an expanding regional war. Separately, Nvidia unveiled its RTX Spark integrated chip for consumer PCs, directly challenging Intel and AMD in the PC market. Michael Burry called Nvidia's AI spending 'fugazi,' questioning the sustainability of GPU demand financed through complex structures. South Korea's exports surged 53.2% in May on semiconductor demand, reinforcing the AI-driven growth narrative. The Eurozone unemployment rate ticked up to 6.3% vs 6.2% forecast, a minor miss. UK manufacturing PMI rose to 53.9, fastest in four years, as firms front-run price increases from the Middle East conflict. SoftBank dethroned Toyota as Japan's most valuable company after announcing a €75 billion AI infrastructure investment in Europe, sending its shares up 11%+.
Key developments
- Israel orders strikes on Beirut suburbs, massive airstrikes across southern Lebanon as Hezbollah conflict escalates
- IRGC launches retaliatory strikes against US; Kuwaiti defenses intercept projectiles
- Nvidia unveils RTX Spark integrated chip for consumer PCs, challenging Intel and AMD
- Michael Burry calls Nvidia AI spending 'fugazi,' questions GPU demand financing
- SoftBank dethrones Toyota as Japan's most valuable company after €75B AI investment plan
- South Korea exports surge 53.2% in May on semiconductor demand - BofA
- Iran denies active nuclear negotiations with US, demands Lebanon ceasefire compliance
- Eurozone unemployment rate rises to 6.3% vs 6.2% forecast