Top 20 US stocks by trading value on March 27: Nvidia and Jensen Huang face class-action lawsuits from investors

Thursday’s top U.S. stock market by trading value was Nvidia, which fell 4.16% to $31.607 billion in turnover. Nvidia and co-founder Huang Renxun are facing a class action lawsuit brought by investors as a group, alleging that they concealed their GPU revenue dependence on cryptocurrency mining.

A U.S. federal judge has ruled to approve a class action lawsuit by investors. The plaintiffs accuse tech giant Nvidia and its CEO Huang Renxun of concealing, between 2017 and 2018, the extent to which the company’s gaming GPU revenue depended on sales related to cryptocurrency mining.

On Wednesday local time, Judge Haywood S. Gillam of the U.S. District Court in California issued the ruling, finding that Nvidia failed to prove that its statements about cryptocurrency mining revenue had no impact on the company’s share price.

Investors first sued Nvidia in 2018, saying the company concealed more than $1 billion in GPU sales revenue related to cryptocurrency mining, and that Huang Renxun deliberately downplayed the scale of that demand. In 2022, the U.S. SEC fined Nvidia $5.5 million for failing to disclose the impact of its cryptocurrency mining business on revenue.

#2 Tesla fell 3.59% with $20.736 billion in turnover. Tesla again published its “seller analyst estimates compilation” on Thursday, quietly lowering expectations in the market for a rebound in this year’s electric vehicle sales.

This is also the second “analyst estimates compilation” Tesla has issued in its history. At the end of last December, before Tesla released its fourth-quarter and full-year delivery data, it compiled selected figures that were below overall market expectations (440,900) for the first time (422,800). The final figure was even lower than what Tesla had estimated (418,200).

The compilation data released by Tesla shows that the market expects the company to deliver 3.656 million new vehicles in Q1 2026, including 3.51 million Model 3/Y vehicles and nearly 180,000 other models such as the Cybertruck.

#3 Meta Platforms fell 7.92% with $19.737 billion in turnover. Meta lost in two major legal cases this week involving child safety. While the fine amount is not large relative to the company’s scale, Meta’s losses in court have raised questions about the role of large tech companies in protecting safety on social media platforms and free speech on platforms.

In addition, a report on Thursday said that Meta has increased its investment commitment for a data center for in-construction AI in West Texas by more than six times, to $10 billion, targeting 1 gigawatt of installed capacity when the facility is operational in 2028.

#4 Micron fell 6.97% with $19.426 billion in turnover. By then, the stock had already fallen for the sixth straight trading day, down a cumulative 22% since Wednesday, March 18. On that day, the stock closed at a record high, and the subsequent second-quarter fiscal results far exceeded analysts’ expectations. Micron also forecast that capital expenditures for fiscal 2026 would be far above market expectations.

Micron and other storage-chip manufacturers were also affected by the TurboQuant AI compression algorithm launched by Alphabet on Wednesday. For example, after SanDisk closed at a record high on Thursday, March 19, it has now recorded a fifth consecutive day of decline, with a cumulative drop of nearly 22% during the period.

#6 SanDisk fell 11.02% with $11.662 billion in turnover. The stock has been down for five straight trading days, with a cumulative decline as high as 21.8%. Recently, shares in the storage-chip sector have continued to pull back. This was after Alphabet’s Google released a research result that could make storage use for AI development more efficient.

#7 Google Class A fell 3.44% with $10.942 billion in turnover. Reports say Alphabet has faced further challenges in India, one of its key growth markets, and a senior attorney for the company in the region has left the firm.

Insiders said that Byjoia-Roy left after about 16 months on the job to pursue a new business venture. Before she left, other members of Google’s public policy team had already departed, creating leadership vacancies as the company faced increasingly strict regulatory scrutiny.

#9 AMD fell 7.49% with $10.135 billion in turnover. Reports say Intel and AMD have each notified customers that they will raise prices for their entire CPU lineup starting in March and April, respectively. Multiple people familiar with the matter said CPU quotes have been raised several times since the beginning of this year, with average increases of 10% to 15%, and some products seeing higher increases. At the same time, CPU delivery lead times have jumped from the past one to two weeks to an average of eight to twelve weeks, and in some cases up to as long as six months.

#12 Palantir fell 4.78% with $6.369 billion in turnover. It was recently reported that Anduril and Palantir are working together to develop software needed for U.S. President Donald Trump’s “Golden Dome” missile defense program. The Golden Dome top-level missile defense project, costing $185 billion, aims to build a space-based defense system capable of intercepting ballistic missiles, cruise missiles, and hypersonic missiles. Hundreds of companies have been competing to participate in the project’s development.

Since the project was launched, Anduril and Palantir have been interested in participating. Reports last year said the two companies were working with SpaceX, owned by Elon Musk, on multiple parts of the project.

#15 TSMC fell 6.22% with $4.788 billion in turnover. Reports say SK Hynix is actively evaluating whether to adopt TSMC’s 3nm process on the logic chips of its 7th-generation high-bandwidth memory (HBM4E), hoping to narrow the performance gap with Samsung Electronics.

#16 Lumentum Holdings fell 11.37% with $4.405 billion in turnover. After the stock hit a record high on Tuesday, it has fallen for two straight days.

#17 Intel fell 6.53% with $3.651 billion in turnover. AMD and Intel both plan to raise CPU prices. Reports say both companies are preparing to increase CPU prices by 10% to 15%, with some products potentially facing even larger hikes. The price adjustments are expected to take effect in the coming months.

This move is to respond to the situation in which demand for AI server processors continues to rise. The surge in demand has put pressure on the supply chain and extended delivery lead times. Reports say CPU delivery lead times have been extended from one to two weeks to as much as eight to twelve weeks, indicating a significant gap between supply and demand.

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责任编辑：张俊 SF065