Chip Stocks Routed on Monday; Apple Bucks Trend; White House Distributes AI Draft
Major chip stocks including Micron Technology and Nvidia fell sharply on Monday, while Apple bucked the trend. Nvidia dropped 4.99%, Micron slid 2.25%, and SanDisk tumbled 11.02%. Apple rose 1.17%, bringing its market capitalization close to $5 trillion. SK Hynix fell 7.47% to a record low. Separately, the White House distributed a draft AI regulatory framework to OpenAI, Anthropic, and Google, with a deadline of August 1.
Among the top 20 most actively traded US stocks on Monday, semiconductor stocks broadly declined. Micron Technology closed down 2.25% with a trading volume of 41.879 billion USD. Nvidia fell 4.99% with a volume of 30.417 billion USD. The cost of protecting Nvidia debt from default rose about 0.14 percentage points to 0.82 percentage points, the largest single-day increase for that derivative since it began trading in November 2025. SanDisk dropped 11.02% on a volume of 27.1 billion USD. Apple rose 1.17% with a volume of 16.656 billion USD, bringing its market capitalization close to $5 trillion. Super Micro Computer declined 5.17% on a volume of 15.584 billion USD. Alphabet rose 2.13% on a volume of 9.275 billion USD.
SK Hynix fell 7.47% to 143.02 USD with a volume of 7.229 billion USD, marking its lowest closing price since listing and its first time falling below the initial public offering price. SpaceX dropped 1.36% on a volume of 7.137 billion USD. SpaceX reported a net loss of 4.9 billion USD for the full year 2025 and a net loss of 4.276 billion USD for the first quarter of 2026. ASML slid 5.80% on a volume of 5.513 billion USD, at one point falling 6.4% during the session. Palantir rose 7% on a volume of 4.746 billion USD; the company will report its latest quarterly results after the US market close on August 3.
About two weeks ago, the White House Office of the National Cyber Director distributed a draft AI regulatory framework to OpenAI, Anthropic, and Google. The three companies jointly submitted revisions. President Trump signed an AI-related executive order in early June, requiring the framework to be completed by August 1. The framework aims to establish standardized processes to control next-generation high-computing AI models capable of rapidly exploiting network vulnerabilities.