Another day, another signal — and we’ve got the highlights.
Nvidia’s stock experienced a target price reduction by analysts. Concerns are surfacing in response to competitors like Broadcom, leading to increased apprehension in the AI hardware sector.
With growing competition in the marketplace, can Nvidia maintain its position as a dominate player in the AI chip space?
In today’s financial recap:
Nvidia Faces Growing AI Chip Threat
US Job Growth Slashed by 911K: Rate Cut Bets Surge
Binance Bahrain Launches Instant Direct USD Banking Rails
Anglo American and Teck Resources Forge $53 Billion Mining Giant
Nvidia Faces Growing AI Chip Threat as Analyst Cuts Stock Target
The TradeWatch: Nvidia’s stock target decreased due to growing competition from Broadcom’s AI chips and the rise of XPUs, signaling changes in the AI hardware market.
Unpacked:
Citi analyst Atif Malik lowered Nvidia’s price target to $200 from $210, citing competitive pressure from rivals like Broadcom who reported strong quarterly results and a $10 billion order for their next-generation custom accelerators.
Malik projects the XPU segment will grow 53% in 2026, outpacing the 34% growth expected for AI GPUs, driven largely by ramp-ups at Google, Meta, and Amazon.
CEO Jensen Huang highlighted strong demand for Blackwell, Nvidia’s key GPU architecture, though Q2 data center revenue missed estimates for the second straight quarter.
Bottom line: The reduced stock target reflects a changing landscape and increased competition, but Nvidia anticipates Huang’s Oct. 28 GTC keynote to act as a catalyst for its stock. These competitive pressures in gaming and data centers are key factors for investors to monitor.
US Job Growth Slashed by 911K: Rate Cut Bets Surge
The TradeWatch: The U.S. Bureau of Labor Statistics revised job growth estimates down by 911,000 through March 2025, indicating a sharper labor market slowdown and intensifying calls for Federal Reserve rate cuts.
Unpacked:
The Bureau of Labor Statistics (BLS) preliminary estimate of the annual benchmark revision lowered employment estimates by about 911,000 jobs over the April 2024 to March 2025 period.
Private payrolls saw a reduction of 880,000 jobs, with significant downward revisions in sectors like trade, transportation, and utilities, according to the Bureau of Labor Statistics.
LPL chief economist Jeffrey Roach noted that the benchmark revision pulled down average monthly jobs gains over the April 2024 to March 2025 period from 147,000 to 71,000.
Bottom line: The substantial downward revision in job growth figures signals a weaker labor market than previously indicated, increasing the likelihood of the Federal Reserve initiating rate cuts soon. This development has broad implications for economic growth forecasts and market stability, so we will continue to watch it closly.
Binance Bahrain Launches Instant Direct USD Banking Rails, Enhancing Fiat-Crypto Integration
The TradeWatch: Binance Bahrain partnered with Singapore Gulf Bank to launch direct U.S. dollar transfer capabilities for retail customers, enabling seamless fiat-to-crypto transactions in seconds within a regulated ecosystem in the Gulf region.
Unpacked:
Binance Bahrain now allows retail users to access direct U.S. dollar banking rails through a partnership with Singapore Gulf Bank (SGB), offering bank-grade on/off-ramp functionality.
Transactions between an SGB account and a Binance Bahrain wallet are executed in seconds, streamlining the process of converting traditional money into digital assets, and availability will depend on individual eligibility and local regulations.
“Digital assets are reshaping finance across the GCC and other fast-growing markets,” said Shawn Chan, CEO of SGB, noting the broader shift underway across the Gulf Cooperation Council (GCC).
Bottom line: This partnership signals a growing trend of integrating traditional banking systems with digital asset platforms, particularly in regions with progressive regulatory environments. These advancements in fiat-to-crypto connectivity make digital assets more accessible to mainstream users, promoting wider adoption and financial development in the Gulf region.
Anglo American and Teck Resources Forge $53 Billion Mining Giant
The TradeWatch: Anglo American and Teck Resources will merge in a $53 billion deal, creating Anglo Teck with a primary listing in London, in a move that reshapes the mining sector. This merger signifies a major bet on the rising demand for copper.
Unpacked:
The merger creates Anglo Teck, poised to capitalize on copper’s critical role in the transition to clean energy.
J.P. Morgan analysts suggest that the merger unlocks the potential for divesting iron ore assets, potentially creating a copper pure-play.
The deal also eliminates the complexity of Teck’s dual share class structure, addressing a governance concern and streamlining decision-making.
Bottom line: This merger signals a significant shift in the mining landscape as Anglo and Teck consolidate their resources to meet the growing demand for copper as the world transitions to clean energy. The $53 billion deal highlights copper’s strategic importance in driving future growth and innovation within the sector.
The Shortlist
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Cheers,
— Michael & the TradeWatch.io editorial team
