Tesla opens Cybercab public rides in Austin, TSLA +5.42%. Nvidia buys Hugging Face for $12.93B, HOOD +15%, GPT-6 Astra live. NFP prints at 6 PM IST.
TLDR
Tesla opened its Cybercab robotaxi rides to the public in Austin overnight, with no steering wheel and no pedals. TSLA closed 5.42% higher at $376.37 on Thursday. The same session delivered two more AI heavyweight stories: Nvidia announced a $12.93 billion acquisition of Hugging Face, and Robinhood surged 15.05% to $123.06 on a Morgan Stanley upgrade to $150. After the bell, OpenAI released GPT-6 Astra to trusted business partners, calling it the first model to hit the “Critical” cyber threshold on its own preparedness framework. Asia has already priced it in: SoftBank ripped 10.28% in Tokyo. All of it now sits against tonight’s August nonfarm payrolls print at 6 PM IST, with consensus at +55k after last month’s -23k.
Market Regime
Traders are chasing the AI trade with both hands. The past 24 hours delivered three separate stories that all point the same direction: Nvidia moving up the stack into software with the Hugging Face deal, OpenAI shipping its most capable model yet in GPT-6 Astra, and SoftBank, an 11% OpenAI holder, ripping in Tokyo on the read-across. Tesla’s Cybercab launch sits alongside all of that, extending the “we are actually shipping AI products” theme from data centers into autonomous driving on public streets.
Sitting underneath everything is tonight’s August NFP print at 6 PM IST. Consensus is +55k after last month’s -23k, a low bar. Waller’s Thursday disinflation comments moved September Fed hike odds from 63% to 50%. A hot beat brings a hike back into the frame and rate-sensitive AI names give some of yesterday’s gains back. A weak print keeps the tape climbing. Everything from NVDA to HOOD to TSLA is reading the same headline together.
Bullish Factors
- GPT-6 Astra is live. OpenAI released it to Daybreak business partners Thursday evening, the first model to hit the “Critical” cyber threshold on its preparedness framework. Broader release to Plus, Pro, Business, Enterprise, API and AWS is scheduled for Sept 5.
- Nvidia buying Hugging Face for $12.93B. Second-largest deal in Nvidia history after the Groq purchase in late 2025. Puts NVDA into the developer and open-model layer, not just the chip layer.
- SoftBank up 10.28% in Tokyo. SoftBank holds roughly 11% of OpenAI. Its move confirms Asian capital is repricing the AI trade on the Astra headline.
- HOOD triple upgrade. Morgan Stanley moved to Overweight at $150 target from $124, Scotiabank Sector Outperform at $136, Piper Sandler at $145. HOOD posted its best single-day gain in over a year.
- Waller cooled hike odds. The Fed governor’s Thursday comments on disinflation pulled September hike probability from 63% to about 50%. That is what let the S&P 500 close +1.06% and the Nasdaq +1.37%.
- Tesla Cybercab public rides open. First fully driverless commercial rides in the US in a purpose-built no-steering-wheel vehicle. Extends the autonomy leg of the AI trade.
Bearish Factors
- NFP low bar. Consensus of +55k after a -23k print is easy to beat. A hot number brings the September Fed hike back into the frame and pressures rate-sensitive tech.
- Warsh stays hawkish. Fed Chair Kevin Warsh has flagged inflation as the priority and has hinted at hiking, not cutting. Vice President Vance publicly called for cuts Thursday, adding to the political noise around the September meeting.
- Oil at $91 on Iran tension. WTI is at a six-week high, Brent near $96. The inflation input is still in the picture and can weigh on any rate-sensitive move.
- Nikkei rally is narrow. Topix eased 0.18% at midday even as SoftBank ripped. This is a single-stock story so far, not a broad Japan bid.
- Astra rollout is throttled. OpenAI is limiting access over cyber risk. That is a reminder the AI trade still carries regulatory tail risk into any 2026 headline.
Asian Markets This Morning
The KOSPI closed up 1.64% at 6,687.21, adding 107.73 points as memory and AI-adjacent names caught the overnight Wall Street bid. Japan’s Nikkei 225 traded up 0.86% to 64,769.74 at midday, with the move almost entirely driven by SoftBank Group jumping 10.28% to JPY 13,875 on the Astra launch read-through. The broader Topix was softer at -0.18%, showing how narrow the Japan tape is right now. Arm Holdings, SoftBank’s chip unit, rose 3.29% overnight in New York, and Kioxia added 4.94% in Tokyo, both extending the AI infrastructure theme into Asian hours.
What Moved Wall Street Today
The S&P 500 closed at 7,747.60, up 1.06%. The Nasdaq Composite added 1.37% to 26,584.06. The Dow Jones Industrial Average gained 1.19% to 53,692.06. The VIX dropped 4.01% to 14.59. It was the best single day for both the S&P 500 and the Dow since August 4.
Nvidia added 1.80% on the Hugging Face announcement, closing near all-time highs with a market cap around $5.4 trillion. Tesla ended +5.42% at $376.37 as the Cybercab public-rides news landed intraday. Robinhood was the single biggest mover on the tape, up 15.05% to $123.06 on the Morgan Stanley upgrade and the wider re-rating of its tokenization and prediction-markets business. Snowflake reported after the bell and traded up more than 20% on Q2 revenue of $1.49 billion and a raised guide. Broadcom guided AI chip revenue to $230 billion by 2028 and lifted HPE numbers with a strong report of its own.
Assets in Focus
TSLA
Tesla opened its Cybercab robotaxi service to the public in Austin overnight, running purpose-built vehicles with no steering wheel and no pedals, riders in the back seat, and the trip controlled through the vehicle display. TSLA closed 5.42% higher at $376.37, adding $19.36 on the day. This is the third weekly gain in a row for the stock and puts the price about 4% off its June closing level of $377. The Nevada permit for 5,000 robotaxis was approved earlier in August, and JPMorgan carries a $445 price target after a factory visit. The next catalyst window is Q3 delivery numbers in early October. TSLA is on CoinDCX Global Futures.
NVDA
Nvidia announced the acquisition of Hugging Face for $12.93 billion, with up to $1 billion in additional employee retention bonuses. The deal is expected to close in H1 2027. Hugging Face has around 18 million developers and 200,000 corporate users on its open-source AI model hub. This puts Nvidia at both ends of the AI stack, chips at the bottom and the developer and open-model layer at the top. Jensen Huang framed it on CNBC as “a large growth driver of our company.” NVDA closed +1.80% and sits near all-time highs, with a market cap around $5.4 trillion. Polymarket has Nvidia at roughly 78% probability of ending 2026 as the world’s most valuable company. NVDA is on CoinDCX Global Futures.
HOOD
Robinhood closed at $123.06, up 15.05%, its best single-day gain in over a year. Morgan Stanley’s Michael Cyprys reversed his April 2026 downgrade and moved the stock to Overweight from Equal Weight with a $150 price target. Scotiabank followed with Sector Outperform at $136, and Piper Sandler raised its target to $145. The re-rating pivots on two things Wall Street was slow to price: the Robinhood Chain, which has done roughly $34.6 billion in cumulative DEX volume since going live on July 1, and the Rothera prediction-markets exchange, which generated $156 million in Q2 revenue from fewer than 2 million users. The NFL season starts today and is historically the platform’s highest-volume prediction-market event. Next event to watch is the Goldman Sachs Communacopia conference on Sept 9.
SPCX
SPCX added roughly $620 billion in market cap over the last 30 days, up 44% from the August 6 low. The stock traded around $150 into the Sept 3 close, up 7.44% on the session. The rally has been built on the broader AI trade lifting SpaceX alongside NVDA, since the xAI merger completed in February plugged xAI’s compute needs into the same infrastructure story. Starlink’s subscriber base sits at roughly 12 million, up nearly 3x from end-2024. First earnings call as a public company is expected this month, and the next tranche of pre-IPO lockup shares becomes eligible in December. SPCX has been one of the most-actively-traded names on CoinDCX Global Futures since it listed in June.
NSDQ100
The Nasdaq Composite closed 26,584.06 on Thursday, up 1.37%, on back-to-back gains and out of the late-August range. Tonight’s NFP decides whether the leg extends. A soft print pushes the index toward all-time-high territory. A hot print pressures the AI complex that has done most of the lifting.
Index Levels to Watch
- S&P 500 reference: 7,747.60 (+1.06% Sep 3). Best day since Aug 4.
- Nasdaq Composite reference: 26,584.06 (+1.37% Sep 3). Back-to-back gains.
- Dow Jones reference: 53,692.06 (+1.19% Sep 3). Best session since early August.
- VIX reference: 14.59 (-4.01% Sep 3). Below the August range.
- Dollar Index reference: 98.845 (-0.71% Sep 3). Softer into NFP.
- 10Y Treasury yield reference: 4.53% area. Fed pathway remains the primary driver.
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