In pre-market trading on July 30 (EST), semiconductors once again led Wall Street’s gains: Nasdaq futures briefly rose 0.31%, with all three major indices in the green. Nvidia (NVDA) advanced about 1%, AMD nearly 3%, while Broadcom and Micron also climbed, extending yesterday’s record-setting momentum.

Pre-Market Momentum: Futures and Blue-Chips Reignite the AI Trade

Traders credited the buying to two themes. First, the new US-EU trade framework has dispelled the “worst-case” supply-chain fears. Second, institutions have raised forecasts for second-half AI-infrastructure capex. Reports that Nvidia’s H20 chips may regain China export clearance—together with an extra 300,000-unit order—prompted investors to reprice GPU demand. Wall Street analysts say a timely export license could lift Nvidia’s FY 2025 EPS guidance by more than 10%. With its MI300 line about to ramp, AMD likewise enjoys a “valuation-plus-cycle” premium.

Although pre-market gains were modest, the Philadelphia Semiconductor Index is up nearly 45% year-to-date. Quant funds warn that, if Q2 earnings keep validating a “no hard landing + faster AI capex” narrative, the sector could see its third valuation expansion of the year—yet high turnover and volatility will magnify pull-back risk.

EU’s €40 Billion AI-Chip Purchase: A Trans-Atlantic Mega-Order

A draft US-EU trade agreement reveals Brussels will buy €40 billion (about $46 billion) in US AI chips by 2028 as part of a $750 billion strategic-procurement plan.

The sum equals roughly 60% of Nvidia’s FY 2024 data-center revenue and is deemed an “unprecedented government-purchase signal.” Expectations are that Nvidia, AMD, and Broadcom (ASICs) will capture 60-70% on the design side; TSMC and Intel IFS may participate via “Made in USA” tags; Micron and Samsung could lock in long-term memory pricing, while ASE and Amkor benefit from advanced-packaging demand.

Analysts stress the order is both quid-pro-quo for EU tariff concessions and a sign of Europe’s anxiety over lagging AI infrastructure. If executed in tranches, it would add significant pull on high-end GPU supply by 2026, reinforcing the “silicon shortage” narrative.

Ambiq Sprinting to the NYSE: An Ultra-Low-Power ‘Little Giant’ in Edge AI

Against this big-chip backdrop, ultra-low-power SoC specialist Ambiq Micro (ticker AMBQ) priced its NYSE IPO last night at $24 a share, raising $96 million—nearly 20% above initial plans—and lists today.

Leveraging its SPOT platform, Ambiq targets wearables, medical, and industrial IoT, claiming 50%–80% lower power consumption for on-device AI. As of end-2024, it had shipped 270 million chips, 40% running AI inference. Though it lost $38.6 million in FY 2025 (to March 31), management says gross margin has rebounded from 48% to 52% and the IPO will accelerate diversification beyond China while expanding in North America and India.

Investors will watch whether Ambiq can sustain 30%+ revenue CAGR via its “efficiency dividend,” how it can boost profitability through software subscriptions and IP licensing given low ASPs in edge AI, and whether its Arm stake and TSMC 22 nm capacity can support scale-up. A solid debut could make Ambiq the third pure-play “low-power + edge AI” stock in US markets—after SiFive and Edge Impulse—offering scarcity value for investors.