Today’s Market Recap:Marvell Technology Jumped 32% to Lead U.S. Stocks, but Bitcoin Tumbled Below $67,000.

Tracking the Market Trend

TradingKey - On June 2nd, Eastern Time, the COMPUTEX conference boosted AI sentiment, leading to a rally in US tech stocks. All three major indices hit new closing highs: the Dow Jones Industrial Average rose 0.45% to 51,307.79 points, the S&P 500 rose 0.13% to 7,609.78 points, and the Nasdaq Composite rose 0.03% to 27,093.9 points.

The Philadelphia Semiconductor Index surged 5.9%. Marvell (MRVL) jumped 32.5%, and Hewlett Packard Enterprise (HPE) also jumped 19.5% after its earnings report.

The crypto sector suffered a major blow, with Strategy (MSTR) falling 9.2% and Coinbase (COIN) dropping 4.7%. Bitcoin once dipped to $67,000, a 7% drop, hitting a two-month low; Ethereum once fell 5%, breaking below $1,900.

In commodities, spot gold prices rose and then fell back, having risen nearly 1.3% at one point during the day, ultimately closing up slightly by 0.1% from the overnight close. Copper prices strengthened, driven by enthusiasm for AI infrastructure, with New York copper futures closing up 1.9%, reaching a new high.

Market Headline

U.S. JOLTS job openings unexpectedly rose to a two-year high in April, providing new support for expectations of an interest rate hike. Job openings jumped to 7.62 million in April, a near two-year high and far exceeding market expectations; meanwhile, layoffs narrowed to 1.69 million, further demonstrating the resilience of the labor market. Following the data release, the yield on the 10-year U.S. Treasury note rose to 4.46%, a new intraday high.

Jensen Huang and Marvell CEO engage in a dialogue: The future of AI will not be about computing power but about connectivity; "Use copper if you can, and only use light if you have to." Huang emphasized that as AI-generated tokens enter the profit-making phase, distributed intelligent agent computing has ignited a huge demand for high-speed interconnects. Regarding interconnect technology routes, Marvell's CEO pointed out that, constrained by physical laws, the boundaries of copper cables are shrinking towards the rack interior, while optical interconnects and CPO technologies will experience explosive growth.

Jensen Huang declared that Marvell has the potential to become "the next trillion-dollar company." He directly linked Marvell's core position in the field of AI data center interconnection to the explosive growth in demand for AI computing power. Marvell CEO Murphy responded humorously, noting the stock's strong performance since Nvidia（NVDA） investment, adding, "Thanks Jensen, we've been following along."

Microsoft (MSFT) launched seven models in its Build initiative, creating a closed loop of "thinking + programming" intelligent agents and following an Anthropic-style enterprise approach. In addition to its flagship inference model, MAI-Thinking-1, Microsoft also released models in multiple areas, including vision. Among them, the 5 billion-parameter coding model MAI-Code-1-Flash, designed for GitHub scenarios, emphasizes low cost and high efficiency. Microsoft executives stated that self-developed models will bring direct financial benefits, and the company's focus on enterprises, developers, and coding aligns with the Anthropic approach.

Elon Musk's shell company has acquired over 6,000 acres of land, potentially paving the way for a $55 billion chip factory outside Houston. WIT Tech, a shell company, has purchased more than 6,000 acres of land in Grimes County; meanwhile, special meetings will be held this week to hear about SpaceX's tax breaks and economic development agreements. It is widely believed that this is to select a site for the $55 billion "Terafab" semiconductor factory.

OpenAI plans to release cross-platform AI optimization tools in an attempt to break its sole reliance on NVIDIA's CUDA. According to reports, Sachin Katti, Senior Vice President of Computing and Infrastructure at OpenAI, stated that they are developing a software abstraction layer that will enable AI workloads to run seamlessly on chips from different vendors. Currently, OpenAI is collaborating with Amazon (AMZN), AMD (AMD), and Cerebras, and developing its own chips, accelerating its "de-NVIDIAization" process.

Samsung Electronics showcased its HBM5 prototype for the first time, betting on the next generation of AI storage competition. At Computex 2026, Samsung unveiled its eighth-generation HBM5, introducing HPB thermal management innovation technology, and has already shipped 12-layer HBM4E samples. Benefiting from across-the-board price increases in general-purpose DRAM, the South Korean storage giant is experiencing a comprehensive profit surge, with Morgan Stanley predicting that Samsung's operating profit will increase by a staggering 464% year-on-year this year.

Over $1 billion worth of cryptocurrencies were forcibly liquidated, with Bitcoin falling as much as 6% to below $67,000. The situation in Iran dampened risk appetite, and Strategy's sell-off on Monday, breaking its long-standing "buy-only" strategy, became the trigger. Bitcoin fell as much as 6% on Tuesday, dropping below $67,000 for the first time since April 5th, triggering a wave of forced liquidations of over $1 billion in cryptocurrencies. Ethereum also came under pressure, falling as much as 5% to below $1,900.

Top 10 Most Traded Stocks

The chart below lists the ten most actively traded stocks on Tuesday. With their massive trading volumes and excellent liquidity, these assets have become key benchmarks for tracking global market dynamics.