Top Pros' Top Picks 8/11/25

Market Minute ⏱️ 8/11/25: Nvidia, AMD Govt. "Rev Share" in Focus

Mike Larson | Editor-in-Chief

After a solid end to last week, stocks are gaining a bit more ground in early trading today. Crude oil is up with the dollar, while gold and silver are lower and Treasuries are flattish.

The Trump Administration continues to find new and novel ways to extract revenue in exchange for trade concessions. The latest: Nvidia Corp. (NVDA) and Advanced Micro Devices Inc. (AMD) will do a “revenue share” deal with the US government, giving it 15 cents of every dollar in sales they get selling H20 and MI308 chips to Chinese customers.

That kind of ultra-targeted export levy is highly unusual, but it follows several other targeted tariffs on various semiconductors, metals, and other products. While neither of those chips are the most advanced ones NVDA and AMD sell, they can still be used to help with Artificial Intelligence (AI) model training and other tasks. NVDA and AMD shares were slightly lower on the news.

NVDA, AMD, LIT, PSKY (YTD % Change)

Global lithium stocks are rallying thanks to an “anti-involution” push in China. In short, the Chinese government is trying to eliminate production overcapacity and deflation in materials like lithium, sectors like steel, and industries like e-commerce and Electric Vehicles (EVs). As part of that trend, the battery giant Contemporary Amperex Technology Co. Ltd., or CATL, said it would shut down its massive Jianxiawo lithium mine for at least three months.

That mine accounts for about 6% of worldwide lithium output. Others in the area account for another 5% of output. If more close, it will accelerate the elimination of a lithium supply glut and boost returns for Western mine operators. Chinese lithium futures surged by the daily limit of 8% Monday, while the Global X Lithium & Battery Tech ETF (LIT) was recently trading up by about 6%.

Fresh off the closure of an $8 billion merger and rebranding as Paramount Skydance Corp. (PSKY), the media conglomerate said it would buy the rights to UFC live fighting events for $7.7 billion. The seven-year deal kicks in for 2026 when a current pay-per-view deal between UFC and ESPN expires. Subscribers to Paramount+ will then be able to watch 13 marquee events plus 30 “Fight Nights” at no additional charge.ensler.

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• Fed: What Miran Nomination Means as Labor Market Questions Swirl
  👉️ TICKER: SPY, TLT
  President Trump on Thursday nominated Council of Economic Advisers Chairman Stephen Miran to serve out the remaining term of Federal Reserve Governor Adriana Kugler. That means there could be at least three dissenters on the FOMC if the committee votes to pass on a cut in the federal funds rate (FFR) in September, says Ed Yardeni, editor of Yardeni QuickTakes.

• Gold: Why This "Least Techie" Asset is Surging in a Tech Boom
  👉️ TICKER: GLD

  The fact that gold is still trending higher in a consistent manner is a significant development. The “least techie” asset is performing admirably in a significant tech boom. That suggests a completely different theme is supporting the move, writes Eoin Treacy, editor of Fuller Treacy Money.

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