# Daily Fintech News — August 28, 2026 > Daily brief on markets, macro, banking, chips and AI infrastructure. Published August 28, 2026 at 7:00 PM ET by Daily Fintech News. Canonical HTML: https://dailyfintechnews.com/brief/fintech/2026-08-28 **Entities covered:** Nvidia, Marvell Technology, Wolfe Research, Google, Tensor Processing Unit, Alphabet Inc., White House, Tariff, Bank of America, Amkor Technology, Meta Platforms, Anthropic, IREN, Hedge fund, United States, Citadel Securities, Donald Trump, Micron Technology, Andreessen Horowitz, Blue Owl Capital --- ## 1. Nvidia Posts Largest One-Day Market-Cap Gain Ever as Wall Street Hikes Targets *Section: AI Chips · Tickers: $NVDA* Nvidia added roughly $453B in market cap in a single day, the largest one-day gain ever recorded in the U.S., as Wall Street reset targets after Q2 earnings. Raymond James went to $515 (Strong Buy), citing an FY28 outlook for ~70% revenue growth, with hikes also from JPMorgan, Mizuho, Goldman, Bernstein, Citi and Stifel. - $NVDA close: $217.54 (-4.58%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-1 ## 2. Marvell Beats on Q2'27 and Lifts Its Long-Term AI Outlook *Section: Earnings · Tickers: $MRVL* Marvell posted Q2'27 revenue of $2.7B (+37% YoY) and adjusted EPS of $0.94, beating estimates, with Data Center revenue up 46% to $2.2B. It guided Q3 above consensus and raised its long-term outlook to ~$12B in FY27 and ~$18B in FY28, calling AI-related bookings 'exceptionally robust.' - $MRVL close: $216.60 (-10.29%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-2 ## 3. Wolfe Names Google a Top Pick for 2027, $460 Target on TPU Story *Section: AI · Source: Analyst Call · Tickers: $GOOGL* Wolfe Research named Alphabet a top pick for 2027, reiterated Outperform and set a $460 target while raising estimates. It sees Google generating more than $105B in TPU revenue next year at ~30% margins and $300B of cumulative TPU revenue through FY28. - $GOOGL close: $346.47 (+1.71%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-3 ## 4. Most Active Options Today Led by Nvidia *Section: Options Activity* The most active options by contracts traded were led by Nvidia (7.4M), followed by Tesla, Apple, MicroStrategy, Micron, SPCX, Palantir, Amazon, Intel and PG&E. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-4 ## 5. White House Weighs New Semiconductor Tariffs *Section: Chips · Source: Policy* The White House is weighing new semiconductor tariffs that could extend beyond chips to servers, laptops and gaming consoles, per Politico. One proposal would tie tariff-free import allowances to U.S. chip-manufacturing commitments; broader duties could raise AI data-center costs and pressure Nvidia and AMD. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-5 ## 6. BofA Initiates Amkor at Buy With a $70 Target *Section: AI Chips · Source: Analyst Call · Tickers: $AMKR* BofA initiated Amkor at Buy with a $70 target, calling it an underappreciated beneficiary of AI/HPC advanced-packaging demand and U.S. supply-chain regionalization. It expects computing to become Amkor's largest end market by 2028 and EPS to rise to $3.41 by 2028. - $AMKR close: $47.88 (-7.46%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-6 ## 7. Meta Could Spend Up to $10B a Year on Anthropic AI *Section: AI · Tickers: $META* Meta could spend up to $10B a year on Anthropic AI, per NYT, and has become one of Anthropic's largest customers. It has used Anthropic's models to help build and test its upcoming personal AI agent, Hatch, even while developing competing products internally. - $META close: $578.02 (+1.21%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-7 ## 8. IREN Reports Q4 FY26 as AI Cloud Pipeline Balloons *Section: AI Infrastructure · Source: Earnings · Tickers: $IREN* IREN reported Q4 FY26 revenue of $137.2M with AI Cloud revenue up ~8x YoY, though adjusted EBITDA of $19.2M missed. It touted a fast-growing AI pipeline: $1B operating ARR, $4B contracted 2026 ARR, $2.8B of new GPU financing and $14B of cash and committed financing. - $IREN close: $35.42 (-12.60%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-8 ## 9. Hedge Funds Pile Into Energy Stocks *Section: Markets · Source: Positioning* Hedge funds bought the most global energy stocks in nearly four years last week, their 12th weekly purchase in 13 weeks, leaving them the most overweight energy relative to global stocks since June 2024 — a sharp reversal from February's underweight. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-9 ## 10. U.S. Corporate Profits Surge to Record $4.8T *Section: Macro* U.S. corporate profits surged 22.8% YoY in Q2 2026 to a record $4.8T, the largest annual increase since Q4 2021 and, excluding pandemic and post-2008 rebounds, the strongest in 21 years. As a share of GDP, profits hit an all-time-high 14.9%. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-10 ## 11. Citadel Securities Posts Record Q2 *Section: Markets* Citadel Securities posted a record Q2 with trading revenue of $7.3B (more than 3x YoY) and net income up more than 250% YoY to $3.3B. It now handles more than a third of U.S. retail stock trades and was profitable in July. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-11 ## 12. Trump Praises Micron's New $10B U.S. Investment *Section: AI Chips · Tickers: $MU* Trump praised Micron after it announced a $10B investment in new U.S. AI and advanced-computing research labs, on top of its prior $250B U.S. commitment, framing it as part of a broader push to reshore critical technology and create American jobs. - $MU close: $932.67 (-0.29%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-12 ## 13. Andreessen Horowitz Raises $1.1B for New AI Infrastructure Fund *Section: AI Infrastructure · Source: The Information* a16z launched a roughly $1.1 billion 'Machine Age' fund to back companies building the physical backbone of AI — chips, memory, networking, storage, robots and other hardware — as it moves to tackle the supply bottlenecks emerging across the AI buildout. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-13 ## 14. Blue Owl Leads $2.4B IREN Debt Deal to Buy Nvidia's Blackwell GPUs *Section: AI Infrastructure · Source: Bloomberg · Tickers: $IREN* Funds led by Blue Owl Capital arranged a $2.4 billion debt deal for cloud-computing provider IREN, which will use the proceeds to buy Nvidia's Blackwell Ultra GPUs for a new data-center campus in Canada — the latest in a wave of debt financings underwriting the AI infrastructure boom. - $IREN close: $35.42 (-12.60%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-14 ## 15. Nvidia-Backed Lambda Raises ~$1B in Private Debt for AI Chips *Section: AI Infrastructure · Source: Bloomberg* Lambda, an AI cloud-computing provider backed by Nvidia, raised about $1 billion of short-dated private debt to fund computing chips tied to its collaboration with Microsoft, adding to the flood of private-credit deals financing AI compute capacity. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-15 ## 16. Quantum Firm Pasqal Soars in NYSE Debut via SPAC Merger *Section: IPO · Source: Quantum · Bloomberg · Tickers: $PSQL* Pasqal jumped sharply on its first day of trading after the quantum-computing company went public in New York through a merger with a blank-check firm, outperforming other quantum names that have recently debuted. - $PSQL close: $17.37 (+77.43%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-16 ## 17. Chinese Memory Chipmaker CXMT's Sales Jump Nearly 10-Fold on AI Demand *Section: Chips · Source: Bloomberg* CXMT's first-half revenue leapt almost tenfold and profit surged as the rush for AI hardware drove demand for memory chips, a boom that has made the company one of China's most valuable businesses ahead of a widely expected IPO. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-17 ## 18. PayPal Sinks 13% After Stripe-Advent Takeover Bid Is Abandoned *Section: Fintech · Source: WSJ · Tickers: $PYPL* PayPal shares tumbled 13% Friday after Bloomberg reported that a group including Stripe and private-equity firm Advent International abandoned their pursuit of the fintech company — potentially one of PayPal's biggest single-day drops in a decade, erasing part of the ~30% gain since the possible takeover was first reported. - $PYPL close: $53.65 (-12.71%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-18 ## 19. OpenAI to End Cursor Partnership After SpaceX Buys the AI Coding Startup *Section: AI · Source: Bloomberg* OpenAI said it will end its partnership with AI-coding agent Cursor following Cursor's acquisition by SpaceX, telling the startup it will wind down their contract with a proposed shutoff date of Nov. 12. Permalink: https://dailyfintechnews.com/brief/fintech/2026-08-28#item-19 --- ## Questions this brief answers **How much market value did Nvidia add?** Nvidia added roughly $453B in market cap in a single day, the largest one-day gain ever recorded in the U.S., as Wall Street reset targets after Q2 earnings. Raymond James went to $515 (Strong Buy), citing an FY28 outlook for ~70% revenue growth, with hikes also from JPMorgan, Mizuho, Goldman, Bernstein, Citi and Stifel. **What did Marvell Technology report for the quarter?** Marvell posted Q2'27 revenue of $2.7B (+37% YoY) and adjusted EPS of $0.94, beating estimates, with Data Center revenue up 46% to $2.2B. It guided Q3 above consensus and raised its long-term outlook to ~$12B in FY27 and ~$18B in FY28, calling AI-related bookings 'exceptionally robust.' **What price target did Wolfe Research set on Google?** Wolfe Research named Alphabet a top pick for 2027, reiterated Outperform and set a $460 target while raising estimates. It sees Google generating more than $105B in TPU revenue next year at ~30% margins and $300B of cumulative TPU revenue through FY28. **Which stocks had the most active options on August 28, 2026?** The most active options by contracts traded were led by Nvidia (7.4M), followed by Tesla, Apple, MicroStrategy, Micron, SPCX, Palantir, Amazon, Intel and PG&E. **What semiconductor tariffs is the White House considering?** The White House is weighing new semiconductor tariffs that could extend beyond chips to servers, laptops and gaming consoles, per Politico. One proposal would tie tariff-free import allowances to U.S. chip-manufacturing commitments; broader duties could raise AI data-center costs and pressure Nvidia and AMD. **What price target did Bank of America set on Amkor Technology?** BofA initiated Amkor at Buy with a $70 target, calling it an underappreciated beneficiary of AI/HPC advanced-packaging demand and U.S. supply-chain regionalization. It expects computing to become Amkor's largest end market by 2028 and EPS to rise to $3.41 by 2028. --- ## More from Daily Fintech News - Previous brief: [August 27, 2026 — Nvidia Adds Record $453B in Market Value as Analysts Reset Targets](https://dailyfintechnews.com/brief/fintech/2026-08-27) - Next brief: [August 29, 2026 — SpaceX Lays Groundwork for Turbine-Blade Factory to Solve Data Center Power Crunch](https://dailyfintechnews.com/brief/fintech/2026-08-29) - Also covers Anthropic, Bank of America, ChangXin Memory Technologies: [August 31, 2026 — Tesla rose 5%, its best day since early July, ahead of Cybercab launch event](https://dailyfintechnews.com/brief/fintech/2026-08-31) - Also covers Alphabet Inc., Anthropic, China: [September 21, 2026 — Nasdaq Closes at Record as Chip and AI Stocks Rally](https://dailyfintechnews.com/brief/fintech/2026-09-21) - Also covers Alphabet Inc., Anthropic, China: [September 15, 2026 — Clarity Act Crypto Bill Fails to Advance in Senate; Coinbase, Circle Slide](https://dailyfintechnews.com/brief/fintech/2026-09-15) - [All briefs](https://dailyfintechnews.com/brief/fintech) *Source: Daily Fintech News (https://dailyfintechnews.com). Attribution with a link to the brief URL is appreciated when quoted.*