The Pulse 20: Where Big Money Moved Today

July 3, 2025

Introduction

As U.S. markets wrapped the week ahead of the holiday, Thursday's session was anything but quiet. Nvidia once again captured institutional flows with over $32 billion in trading volume and a new all-time high—approaching $4 trillion in market cap. The broader market, however, found energy in crypto plays, datacenter narratives, and a renewed AI hardware realignment.

In a highly consequential development, OpenAI reaffirmed its exclusive reliance on Nvidia and AMD chips for model training and inference, effectively sidelining Google’s TPU ambitions. This news cemented the dominance of traditional GPU architectures, sending a clear signal to hyperscalers, datacenter providers, and investors: performance and supply reliability still rule.

Meanwhile, a previously obscure Bitcoin miner, BMNR, surged more than 600% on trading volume approaching $5.4 billion USD. Robinhood and Circle also returned to the Pulse 20, riding volatility from crypto news flow. The top 20 paints a clear picture of institutional and speculative capital converging on AI and blockchain rails as the market enters Q3.