BlockBeats News, July 22, a summary of pre-market news in the US stock market:

1. Google's parent company Alphabet and Tesla will release their Q2 2026 earnings reports after the US stock market closes today. The market will focus on key metrics such as AI investment returns, cloud business growth, and profitability.

2. The market expects Google's Q2 revenue to further increase to $116.8 billion, a 21.1% year-over-year growth. Bank of America believes that Google Cloud and the search business will remain the key performance drivers this quarter, with cloud business expected to sustain strong growth. An article by finance professor and CTA Damir Tokic has caused a "seismic" reaction in the US stock investment circle, as he believes Alphabet may be the first among large tech companies to lower AI capital expenditure expectations. The pressure mainly stems from weakening free cash flow, rising financing costs, and the lack of sufficient proof of AI investment returns.

3. The market expects Tesla to report Q2 revenue of approximately $25.31 billion and earnings per share of $0.50. Despite the company previously announcing Q2 deliveries of 480.1 thousand vehicles, exceeding market expectations, the market is more concerned about whether delivery growth can translate into revenue and profit growth, as well as whether the automotive gross margin will continue to be under pressure.

4. AMD has released preliminary results for its Q4 with GAAP and non-GAAP gross margin expected to be between 15% and 17%, nearly double the previous guidance range of 8.2% to 8.4%.

5. NVIDIA CEO Jensen Huang openly opposes the US ban on Chinese open-source AI. He stated that models like Kimi from China perform exceptionally well, and US companies "should definitely use" them. Restricting these models may actually weaken US security.

6. Independent research firm TS Lombard's report shows that South Korean semiconductor stock valuations have reached a reasonable level, but the market's expectations for the future profitability of semiconductor companies may still be overly optimistic.

7. US stock index futures collectively declined, with Nasdaq 100 index futures falling over 1%, S&P 500 index futures dropping 0.48%, and Dow Jones index futures down 0.28%.

8. SK Hynix has not sought to acquire Intel's land and manufacturing plant in Ohio, nor has it made any decisions regarding this.

9. AMD has signed a significant chip and investment agreement with ANTHROPIC, with AMD investing $5 billion in ANTHROPIC.