Hot Stocks: Weebit Nano, Brightstar Resources, Star Minerals

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Wall Street edged higher on Wednesday, with the S&P 500 closing at a record 6,481.40 as investors awaited results from Nvidia, seen as a bellwether for the broader market. The Nasdaq rose 0.21% and the Dow added 0.32%. Gains in MongoDB and Okta highlighted ongoing enthusiasm for companies tied to artificial intelligence, even as markets looked past President Donald Trump’s dismissal of Federal Reserve Governor Lisa Cook.

After the closing bell, Nvidia reported earnings and revenue above forecasts, with net income up 59% year-on-year and guidance pointing to further strength this quarter. Data centre revenue surged 56% but fell slightly short of expectations, while sales of its new Blackwell chips rose strongly. Despite a new US$60bn buyback plan, shares slipped in after-hours trade on concerns about slowing momentum in the data centre division.

In Australia, the SPI futures are signalling a flat open. Investors will be watching earnings from Qantas, Wesfarmers, Mineral Resources and Star Entertainment. Key economic data due today include second-quarter capital expenditure at 11:30am, with NAB forecasting a 1% lift. Across the Tasman, filled jobs and business confidence data are on the agenda, while in the US, markets await revisions to second-quarter GDP.

Weebit Nano revenue surges 300% as ReRAM licensing accelerates
Weebit Nano (ASX:WBT) reported FY25 revenue of $4.4m, a 300% increase on the prior year, driven by IP licensing and engineering fees for its embedded ReRAM memory technology. The company has three licensing deals with semiconductor foundries and one design agreement with a product company. CEO Coby Hanoch highlighted progress with Tier-1 partner onsemi and the push toward qualification with DB HiTek. Weebit expects further revenue growth as more agreements with foundries, IDMs and product firms are signed.

Brightstar launches underground drilling to extend Fish mine life
Brightstar Resources (ASX:BTR) has begun an underground diamond drilling program at the Fish Mine within its Laverton Gold Project. The ~8,600m program will be split into two phases targeting extensions beneath the current ore reserve to convert Inferred resources into Measured and Indicated categories, supporting mine life extensions. Initial surface drilling has already been completed with assays pending. The Fish operation, now Brightstar’s second underground mine in Laverton, is advancing ahead of schedule and supplying ore to Genesis Minerals’ Laverton mill under an Ore Purchase Agreement. A Mineral Resource upgrade is planned for 2H CY25.

Star Minerals drilling uncovers shallow gold extension at Tumblegum South
Star Minerals (ASX:SMS) has reported strong drill results from its Tumblegum South Gold Project, with shallow gold intercepts west of the known lodes. Highlights include 2m at 4.20 g/t from 4m and 2m at 5.28 g/t from 48m. The results suggest potential for a repeat duplex structure and resource extension. Infill drilling also confirmed very high-grade shallow gold from the southern pit design, including 5m at 30.91 g/t. The program advances plans for mining approvals in September, with production targeted for early 2026. An updated JORC resource estimate is expected in late 2025 or early 2026.