Trending Tickers: $TSLA Chip Deal, $WRD Gets Saudi Permit, $COIN $JPM Team Up
This week, several stocks caught investors’ attention, driven by significant developments and market momentum. Here’s the breakdown of this week’s trending stocks:
Tesla ($TSLA) Partners with Samsung to Produce AI Chips in Texas
Elon Musk announced on July 28 that Samsung’s new semiconductor fabrication plant in Texas will be dedicated to manufacturing Tesla’s next-generation AI6 chip. Musk emphasized the strategic importance of this collaboration, noting that Samsung currently produces the AI4 chip, while TSMC will handle AI5 production, starting in Taiwan and later expanding to Arizona.
In a follow-up post, Musk revealed that Samsung has agreed to allow Tesla to assist in maximizing manufacturing efficiency at the Texas facility. “This is a critical point,” he said, adding that he plans to personally oversee operations on-site to accelerate progress. Musk highlighted the convenience of the plant’s location, being not far from his residence.
The partnership marks a significant step for Tesla as it ramps up production of advanced AI chips designed to power its self-driving and autonomous vehicle technology.
Stock Price Movement
$TSLA shares rose 3% on the day of announcement.
WeRide ($WRD) Gains Saudi Arabia Robotaxi Permit
WeRide ($WRD), a global autonomous driving technology company, announced it has secured Saudi Arabia’s first Robotaxi autonomous driving permit, making it the only firm with permits in six countries: Saudi Arabia, China, the UAE, Singapore, France, and the U.S.
The new authorization allows WeRide to operate Robotaxi services nationwide in Saudi Arabia, starting with pilot operations in Riyadh in partnership with Uber and local company Ai Driver. The pilot covers King Khalid International Airport, major highways, and city center routes, with a full-scale commercial launch planned by the end of 2025.
According to the company, its Robotaxi successfully passed Saudi Arabia’s rigorous Regulatory Sandbox program, which included extensive testing and safety validations. Beyond Robotaxi services, WeRide is already operating autonomous buses and sanitation vehicles in Riyadh, expanding its footprint in the Middle East.
Stock Price Movement
$WRD shares jumped over 10% intraday following the news but later gave up those gains, finishing the day in the red.
JPMorganChase and Coinbase Partner to Expand Crypto Access for Customers
JPMorganChase ($JPM) and Coinbase ($COIN) announced a new strategic partnership aimed at making it easier for Chase customers to access cryptocurrencies. According to both companies, the collaboration will roll out several features that connect traditional banking with digital asset wallets, expanding options for customers looking to participate in the crypto market.
Key Details of the Partnership
The first phase of the initiative includes three main features:
- Direct Bank-to-Wallet Connection: Chase customers will soon be able to securely link their bank accounts directly to Coinbase wallets via JPMorgan’s API, simplifying the process of funding crypto transactions.
- Transfer of Chase Ultimate Rewards Points: Customers will be able to move Chase Ultimate Rewards points into their Coinbase accounts, marking the first time a major credit card rewards program can be converted into cryptocurrencies.
- Credit Card Funding Option: Starting in Fall 2025, Chase credit cards can be used to fund Coinbase accounts, adding another payment choice for customers.
According to the companies, the direct bank-to-wallet link and rewards point transfer are expected to go live in 2026, with credit card funding arriving first.
Stock Price Reaction
$COIN and $JPM both closed slightly higher following the announcement, reflecting a positive market response to the new collaboration.
This article is for informational purposes only and is not investment advice or a solicitation to buy or sell securities. The content is based on publicly available information and reflects the author’s opinions as of the publication date, which may change without notice. All investments carry inherent risks, including the potential loss of principal, and past performance is not indicative of future results. Forward-looking statements, including references to projected revenues, market trends, or business developments, are based on current expectations and assumptions. Actual results may differ due to various factors, including regulatory changes, economic conditions, competitive pressures, and unforeseen market fluctuations. Readers should conduct their own research or consult a financial advisor before making investment decisions. BBAE holds no position in the securities mentioned, nor are they compensated by the companies mentioned.
