Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs. Asian stocks have breached&nbsp;multiple peaks, with India &amp; Pakistan's stock markets leading the rally. US stocks are also at record highs. But what's driving this rally?

The surge in tech stocks has bolstered the markets in 2024. While investors are still navigating interest rate dynamics, companies like Nvidia have soared exponentially, rising to over 150 per cent in the year. Reuters data shows that the MSCI's 47-country world stocks index has clocked up 11 per cent since January. Meanwhile, the top tech firms have surged 30 per cent. The magnificent seven alone has surged $8.3 trillion in the last 18 months. This contrasting jump explains the&nbsp;market's triumph.

This comes at a time when major economies have witnessed or are about to witness 'unexpected' elections. Election uncertainties have certainly caused market volatility, which has benefitted short-sellers as well. In Nvidia's recent $430 billion 3-day slump, short-sellers reportedly made $5 billion.

Gold and cryptocurrency shine

Cocoa prices surged to record highs of $11,000 in the initial months of 2024. Since then, the prices have witnessed a downward trend,&nbsp;declining to a 2-year low.

But what shines is GOLD! The yellow metal has hit record highs in 2024. The demand for safe-haven assets has overall surged in 2024, with investors looking for safer bets amid volatility.&nbsp;

Cryptocurrencies also made a comeback, with the approval of Exchange-Traded Funds (ETFs). The prices broke multiple record highs as it cruised through the $70,000 mark.

Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs.

Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs. Asian stocks have breached multiple peaks, with India & Pakistan's stock markets leading the rally. US stocks are also at record highs. But what's driving this rally? The surge in tech stocks has bolstered the markets in 2024. While investors are still navigating interest rate dynamics, companies like Nvidia have soared exponentially, rising to over 150 per cent in the year. Reuters data shows that the MSCI's 47-country world stocks index has clocked up 11 per cent since January. Meanwhile, the top tech firms have surged 30 per cent. The magnificent seven alone has surged $8.3 trillion in the last 18 months. This contrasting jump explains the market's triumph. This comes at a time when major economies have witnessed or are about to witness 'unexpected' elections. Election uncertainties have certainly caused market volatility, which has benefitted short-sellers as well. In Nvidia's recent $430 billion 3-day slump, short-sellers reportedly made $5 billion. Gold and cryptocurrency shine Cocoa prices surged to record highs of $11,000 in the initial months of 2024. Since then, the prices have witnessed a downward trend, declining to a 2-year low. But what shines is GOLD! The yellow metal has hit record highs in 2024. The demand for safe-haven assets has overall surged in 2024, with investors looking for safer bets amid volatility. Cryptocurrencies also made a comeback, with the approval of Exchange-Traded Funds (ETFs). The prices broke multiple record highs as it cruised through the $70,000 mark.

Global markets roundup: Tech rally leads global markets in 2024

After a strong rally on wall street overnight, Asian stocks slipped on Wednesday. Reason: US Federal reserve officials said they wanted to see more evidence of cooling inflation before lowering interest rates. So, investors will eye Friday's inflation data for more cues...

Nvidia leads gains in the 'magnificent seven' megacaps

Now we look at who benefitted the most from the rout in Nvidia's 3-day loss of 430 billion dollars. While Nvidia recovered strongly to gain 7% overnight, the steep selloff in the AI darling's shares over the three sessions before Tuesday has netted short sellers about 5 billion dollars. That is based on Ortex technologies, a data analytics company. Take a look at this report for more...

Nvidia's 3-day slump brings windfall profits for short sellers

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1.

Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple.

Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later.

The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&amp;P 500's return for the year. The index is up 14.6 per cent so far this year.

Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1. Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple. Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later. The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&P 500's return for the year. The index is up 14.6 per cent so far this year. Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon hits $2 trillion in valuation

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations&nbsp;about a potential 'bubble' that could burst sooner or later.

Nvidia's shares, which last week momentarily overtook Apple as the most valuable business in the world, are up 152 per cent this year and made up about 30 per cent of the S&amp;P 500's year-to-date return. This year, the index is up 14.6 per cent.

Though the recent decline in the share price of the company seems to have made traders more cautious, there was clear bullishness surrounding Nvidia in the options market.

Surging demand for AI technology has significantly benefited Nvidia. The company holds an almost 80 per cent share of the AI chip market, particularly in data centres. Their H100 accelerators facilitate complex AI computations, resulting in a revenue increase exceeding 125 per cent year-over-year. This trend continued last quarter, with Nvidia's data centre business experiencing a 427 per cent growth, generating $22.6 billion.

Analysts like Daniel Ives of Wedbush Securities estimate that Nvidia, Apple, and Microsoft are in a fierce competition to be the first companies in the technology sector to reach a $4 trillion market cap. With AI skills, each is delving deeply into its competitive advantages in an effort to win over investors.&nbsp;

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high.

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later. Nvidia's shares, which last week momentarily overtook Apple as the most valuable business in the world, are up 152 per cent this year and made up about 30 per cent of the S&P 500's year-to-date return. This year, the index is up 14.6 per cent. Though the recent decline in the share price of the company seems to have made traders more cautious, there was clear bullishness surrounding Nvidia in the options market. Surging demand for AI technology has significantly benefited Nvidia. The company holds an almost 80 per cent share of the AI chip market, particularly in data centres. Their H100 accelerators facilitate complex AI computations, resulting in a revenue increase exceeding 125 per cent year-over-year. This trend continued last quarter, with Nvidia's data centre business experiencing a 427 per cent growth, generating $22.6 billion. Analysts like Daniel Ives of Wedbush Securities estimate that Nvidia, Apple, and Microsoft are in a fierce competition to be the first companies in the technology sector to reach a $4 trillion market cap. With AI skills, each is delving deeply into its competitive advantages in an effort to win over investors.

Nvidia shares rebound after $430 billion market slump

Now, we look at the ongoing selloff in Nvidia after it became the world's most valuable company last week. Monday saw Nvidia shares erase a historic amount of value for the AI-focused chipmaker. Is this just a correction or a stock bubble burst?

Nvidia marks biggest 3-day value loss in stocks history

Chipmaker Nvidia has signed a significant deal with Qatari telecom giant Ooredoo. This agreement marks Nvidia's first large-scale deployment of its ai technology in West Asia. Interestingly, the US restricts exports of its most advanced ai chips to the region. Analysts believe the deal involves Nvidia's mid-range ai technology, which falls outside those restrictions.

Nvidia partners with Ooredoo to deploy ai tech in West Asia

Three tech giants - Nvidia, Microsoft, and Apple are racing towards an unprecedented 4 trillion dollar market cap, each fueled by advancements in artificial intelligence. Watch in for more details!

Who will hit $4 trillion market cap first?

Whether you're a seasoned investor or someone who just started out investing, you've probably witnessed Nvidia's rise as the world's most valuable company. But is Nvidia's high valuation justified or is it a bubble? That's what this next report decodes.

Is Nvidia's AI surge a bubble?

Sanctions deployed by the US seem to not work as they had hoped for. We talk about the impacted country's tactics and how Russia can circumvent sanctions using shadow fleets and local currency trade. But what about corporations? How do they execute expansion amid export curbs? Because for them, it's a loss of a potential market.

Nvidia has been the poster child of the AI boom. The company has exponentially surged to become the most valuable company in the world. While its see-saw with Microsoft continues, many experts are betting on Nvidia to ride this wave throughout the year. This comes as Nvidia is eyeing new markets.&nbsp;

Reuters has revealed an interesting insight from telecom giant Ooredoo's CEO. He says Nvidia has signed a deal to deploy its AI tech at their dedicated data centres in 5 West Asian countries. Interestingly, this would mark Nvidia's first large-scale launch in a region under US export curbs. The US considers West Asia as a 'backdoor' for Chinese firms to keep track of their progress in AI. This is why the US allows exports of some AI tech, but not the 'premium' one.

Ooredoo is reportedly investing $1 billion in boosting its data centre capacity, with plans to triple that by 2030. Meanwhile, Nvidia's senior vice president of telecom, Ronnie Vasishta, said, 'Providing the technology will allow Ooredoo to better help its customers deploy generative AI applications.'

But the real question is: Can advancements in AI be limited to a couple of countries when the whole world is witnessing this revolution?

Sanctions deployed by the US seem to not work as they had hoped for. We talk about the impacted country's tactics and how Russia can circumvent sanctions using shadow fleets and local currency trade.

Sanctions deployed by the US seem to not work as they had hoped for. We talk about the impacted country's tactics and how Russia can circumvent sanctions using shadow fleets and local currency trade. But what about corporations? How do they execute expansion amid export curbs? Because for them, it's a loss of a potential market. Nvidia has been the poster child of the AI boom. The company has exponentially surged to become the most valuable company in the world. While its see-saw with Microsoft continues, many experts are betting on Nvidia to ride this wave throughout the year. This comes as Nvidia is eyeing new markets. Reuters has revealed an interesting insight from telecom giant Ooredoo's CEO. He says Nvidia has signed a deal to deploy its AI tech at their dedicated data centres in 5 West Asian countries. Interestingly, this would mark Nvidia's first large-scale launch in a region under US export curbs. The US considers West Asia as a 'backdoor' for Chinese firms to keep track of their progress in AI. This is why the US allows exports of some AI tech, but not the 'premium' one. Ooredoo is reportedly investing $1 billion in boosting its data centre capacity, with plans to triple that by 2030. Meanwhile, Nvidia's senior vice president of telecom, Ronnie Vasishta, said, 'Providing the technology will allow Ooredoo to better help its customers deploy generative AI applications.' But the real question is: Can advancements in AI be limited to a couple of countries when the whole world is witnessing this revolution?

Nvidia in West Asia? Ooredoo CEO reveals Nvidia plans amid US curbs

NVIDIA's meteoric rise to become the world's most valuable company under the leadership of Jensen Huang is a tale of vision, perseverance, and unconventional wisdom. Founded in 1993, NVIDIA began its journey by developing graphics processing units that revolutionised the gaming industry. With his relentless focus on innovation, Huang steered the company through various technological waves.

How Nvidia rose to the top of Wall Street

Nvidia becomes the world's most valuable company, surpassing tech giants Microsoft and Apple. Nvidia's market capitalization reached $3.33 trillion, driven by a 3.2 percent rise in its stock price. To put that into perspective, the valuation of the tech giant now equals that of India's GDP.

Gravitas: Nvidia's market value surpasses Microsoft & Apple

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape. Nvidia's shares advanced as much as 3.6 per cent on June 18 to lift its market cap to a record $3.34 trillion, pushing it past Microsoft's $3.32 billion and Apple's $3.29 trillion.&nbsp;

Nvidia's meteoric rise is mostly due to surging demand for AI technology. The firm took a nearly 80 per cent share in the AI chip market, particularly in data centres. Its H100 accelerators play a huge part in running complex AI computations and conclusively led to Nvidia strengthening its sales. That also means that the revenues have increased by more than 125 percent just last year. Nvidia's data centre business posted astonishing 427 per cent year-over-year growth last quarter and delivered $22.6 billion, that is 86 per cent of its total sales.&nbsp;

According to Bloomberg, this ranking shift is a testament to AI's paramount significance for investors. With technology at the core of powering data centres and facilitating complex AI tasks, Nvidia is truly at the very frontline in this revolution of AI technology. This surge in AI-driven demand has taken the stock price by more than 170 per cent in 2024 alone, adding over $2 trillion to its market cap.&nbsp;

Success doesn't come just from chip sales at Nvidia-it comes from panoramic systems; company-proprietary software and a complete development ecosystem. "They're not just selling chips, they're selling systems," says Michael Lippert, vice president and portfolio manager at Baron Capital Inc.&nbsp;

More than that, however, such a shift by Nvidia from merely being a niched chipmaker for gamers to dominating AI hardware demonstrates the strategic agility this company possesses. Earlier known for its graphics chips that powered elaborate gaming, Nvidia diversified into AI, cryptocurrency mining chips, and cloud gaming subscriptions. &nbsp;

While Nvidia continues to dominate the AI hardware market, Microsoft and Apple are leading in terms of actually putting AI to work. Microsoft, which made a massive bet on OpenAI, has been pushing AI models into its core products, including Office and Windows. Microsoft is also one of the biggest buyers of Nvidia’s graphics processing units (GPUs) for its Azure cloud service. Apple has just announced its AI plans, and this has stirred investors' interest, sending its stock briefly higher.&nbsp;

Estimates from analysts such as Wedbush Securities' Daniel Ives peg Nvidia, Apple, and Microsoft to be embroiled in a hot contest toward becoming the first to hit $4 trillion in market cap in the technology sector. Each is digging deep into its competitive advantages with AI expertise in hopes of gaining investor sentiment.&nbsp;

Nvidia's climb to the top has been steep and record. Its share price has more than increased ninefold since the end of 2022, the time of the AI explosion. The rise catapulted the net worth of its co-founder CEO Jensen Huang to about $117 billion, easily making him the 11th wealthiest person in the world.&nbsp;

With Nvidia on a continuous rise, the million-dollar question on everyone's mind seems to be whether it can really hold on to its upward trajectory to be the first tech company with $4 trillion in market capitalisation. Its ingenious handling of the fact that AI has stormily taken over the world of technology and investor interest does give Nvidia an edge over other companies in the digital space. In the dynamic technology sphere of competition, Apple and Microsoft will also be strong contenders for the race.&nbsp;

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape.

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape. Nvidia's shares advanced as much as 3.6 per cent on June 18 to lift its market cap to a record $3.34 trillion, pushing it past Microsoft's $3.32 billion and Apple's $3.29 trillion. Nvidia's meteoric rise is mostly due to surging demand for AI technology. The firm took a nearly 80 per cent share in the AI chip market, particularly in data centres. Its H100 accelerators play a huge part in running complex AI computations and conclusively led to Nvidia strengthening its sales. That also means that the revenues have increased by more than 125 percent just last year. Nvidia's data centre business posted astonishing 427 per cent year-over-year growth last quarter and delivered $22.6 billion, that is 86 per cent of its total sales. According to Bloomberg, this ranking shift is a testament to AI's paramount significance for investors. With technology at the core of powering data centres and facilitating complex AI tasks, Nvidia is truly at the very frontline in this revolution of AI technology. This surge in AI-driven demand has taken the stock price by more than 170 per cent in 2024 alone, adding over $2 trillion to its market cap. Success doesn't come just from chip sales at Nvidia-it comes from panoramic systems; company-proprietary software and a complete development ecosystem. "They're not just selling chips, they're selling systems," says Michael Lippert, vice president and portfolio manager at Baron Capital Inc. More than that, however, such a shift by Nvidia from merely being a niched chipmaker for gamers to dominating AI hardware demonstrates the strategic agility this company possesses. Earlier known for its graphics chips that powered elaborate gaming, Nvidia diversified into AI, cryptocurrency mining chips, and cloud gaming subscriptions. While Nvidia continues to dominate the AI hardware market, Microsoft and Apple are leading in terms of actually putting AI to work. Microsoft, which made a massive bet on OpenAI, has been pushing AI models into its core products, including Office and Windows. Microsoft is also one of the biggest buyers of Nvidia’s graphics processing units (GPUs) for its Azure cloud service. Apple has just announced its AI plans, and this has stirred investors' interest, sending its stock briefly higher. Estimates from analysts such as Wedbush Securities' Daniel Ives peg Nvidia, Apple, and Microsoft to be embroiled in a hot contest toward becoming the first to hit $4 trillion in market cap in the technology sector. Each is digging deep into its competitive advantages with AI expertise in hopes of gaining investor sentiment. Nvidia's climb to the top has been steep and record. Its share price has more than increased ninefold since the end of 2022, the time of the AI explosion. The rise catapulted the net worth of its co-founder CEO Jensen Huang to about $117 billion, easily making him the 11th wealthiest person in the world. With Nvidia on a continuous rise, the million-dollar question on everyone's mind seems to be whether it can really hold on to its upward trajectory to be the first tech company with $4 trillion in market capitalisation. Its ingenious handling of the fact that AI has stormily taken over the world of technology and investor interest does give Nvidia an edge over other companies in the digital space. In the dynamic technology sphere of competition, Apple and Microsoft will also be strong contenders for the race.

Nvidia's unstoppable ascent: Forces behind its rise and its quest for a $4 trillion market cap

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions. This is to advance the development of industry-specific generative AI applications to help bring game-changing insights for clients across sectors.&nbsp;

The alliance launches the HPE Private Cloud AI, a turnkey private cloud solution designed in collaboration between HPE and Nvidia to help organisations quickly implement tailored AI applications using the combined powerful technology of HPE and accelerated computing solutions from Nvidia. The goal is to assist clients in modernising their data strategies and delivering quicker business outcomes.&nbsp;

The first industry-specific solution to emerge from this collaboration is a digital twin model for the manufacturing sector. Deloitte’s rapid use case development methodology, HPE Greenlake, and Nvidia Omniverse combine better data extraction and management -helping businesses in manufacturing do advanced simulations, predict outcomes, and trial new products and processes to enhance decision-making and innovation.&nbsp;

Tim Gaus, a principal and leader of Deloitte’s Smart Manufacturing business, noted that manufacturers increasingly seek to improve data extraction to run simulations to minimise risk and improve decision-making. The work with HPE and Nvidia is intended to address typical stumbling blocks in developing AI solutions, particularly in managing abundant industrial data stores and weaving disparate systems together for improved security, safety, and outcome prediction.&nbsp;

In addition to the manufacturing-focused solution, Deloitte and HPE will also work together on continued industry-specific AI applications using HPE Private Cloud AI’s end-to-end capabilities with Nvidia computing platform and AI software. This latest collaboration is an extension of more than 25 years of innovation between Deloitte and HPE, which have developed solutions in edge computing, hybrid cloud, Industrial IoT, and beyond.&nbsp;

This extended partnership will simplify the AI lifecycle, which enables enterprises to fast-track the development of AI use cases for real business value, summed up Marc Waters, VP-Customer Success, Services &amp; Solutions at HPE. The partnership furthers Deloitte's ongoing collaboration with Nvidia in providing end-to-end AI solutions. Earlier this year, Deloitte was named NPN Global Consulting Partner of the Year by Nvidia for its work in developing and driving growth with NVIDIA-powered AI solutions.&nbsp;

"Generative AI is transforming every industry, and businesses are seeking full-stack infrastructure and software to give them a fast path to adoption," said Alvin DaCosta, vice president of the NPN Consulting Organization at Nvidia. "The combination of the most advanced Nvidia and HPE computing, software and services with Deloitte's industry expertise helps enterprises accelerate their generative AI deployments."&nbsp;

About Hewlett Packard Enterprise (HPE)&nbsp;

Hewlett Packard Enterprise is an NYSE-listed company with a ticker of HPE that is focused on developing edge-to-cloud experiences that allow organisations to extract the right value from all their data. Providing one consistent experience across all clouds and edges, it drives a comprehensive portfolio from cloud and high-performance computing via AI, intelligent edge, software, and storage solo.&nbsp;

About Deloitte&nbsp;

Deloitte delivers deep audit, consulting, tax, and advisory capabilities to many of the world's largest and most recognisable brands, including nearly 90% of the Fortune 500 and more than 8,500 privately held companies in the US. For more than 175 years, Deloitte has been working across more than 150 countries and territories, bringing forth a peculiar blend of business acumen and technological might that enables clients to shape their futures.&nbsp;

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions.

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions. This is to advance the development of industry-specific generative AI applications to help bring game-changing insights for clients across sectors. The alliance launches the HPE Private Cloud AI, a turnkey private cloud solution designed in collaboration between HPE and Nvidia to help organisations quickly implement tailored AI applications using the combined powerful technology of HPE and accelerated computing solutions from Nvidia. The goal is to assist clients in modernising their data strategies and delivering quicker business outcomes. The first industry-specific solution to emerge from this collaboration is a digital twin model for the manufacturing sector. Deloitte’s rapid use case development methodology, HPE Greenlake, and Nvidia Omniverse combine better data extraction and management -helping businesses in manufacturing do advanced simulations, predict outcomes, and trial new products and processes to enhance decision-making and innovation. Tim Gaus, a principal and leader of Deloitte’s Smart Manufacturing business, noted that manufacturers increasingly seek to improve data extraction to run simulations to minimise risk and improve decision-making. The work with HPE and Nvidia is intended to address typical stumbling blocks in developing AI solutions, particularly in managing abundant industrial data stores and weaving disparate systems together for improved security, safety, and outcome prediction. In addition to the manufacturing-focused solution, Deloitte and HPE will also work together on continued industry-specific AI applications using HPE Private Cloud AI’s end-to-end capabilities with Nvidia computing platform and AI software. This latest collaboration is an extension of more than 25 years of innovation between Deloitte and HPE, which have developed solutions in edge computing, hybrid cloud, Industrial IoT, and beyond. This extended partnership will simplify the AI lifecycle, which enables enterprises to fast-track the development of AI use cases for real business value, summed up Marc Waters, VP-Customer Success, Services & Solutions at HPE. The partnership furthers Deloitte's ongoing collaboration with Nvidia in providing end-to-end AI solutions. Earlier this year, Deloitte was named NPN Global Consulting Partner of the Year by Nvidia for its work in developing and driving growth with NVIDIA-powered AI solutions. "Generative AI is transforming every industry, and businesses are seeking full-stack infrastructure and software to give them a fast path to adoption," said Alvin DaCosta, vice president of the NPN Consulting Organization at Nvidia. "The combination of the most advanced Nvidia and HPE computing, software and services with Deloitte's industry expertise helps enterprises accelerate their generative AI deployments." About Hewlett Packard Enterprise (HPE) Hewlett Packard Enterprise is an NYSE-listed company with a ticker of HPE that is focused on developing edge-to-cloud experiences that allow organisations to extract the right value from all their data. Providing one consistent experience across all clouds and edges, it drives a comprehensive portfolio from cloud and high-performance computing via AI, intelligent edge, software, and storage solo. About Deloitte Deloitte delivers deep audit, consulting, tax, and advisory capabilities to many of the world's largest and most recognisable brands, including nearly 90% of the Fortune 500 and more than 8,500 privately held companies in the US. For more than 175 years, Deloitte has been working across more than 150 countries and territories, bringing forth a peculiar blend of business acumen and technological might that enables clients to shape their futures.

Deloitte, HPE, and Nvidia Unite to Revolutionise Generative AI Solutions

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies. On Tuesday, shares of the chipmaker rose 3.5 per cent to $135.58, bringing its market capitalisation to an all-time high of $3.335 trillion.<o:p></o:p>

This achievement comes just after Nvidia eclipsed Apple, the iPhone powerhouse, to become the world's second most valuable corporation. Microsoft's stock fell 0.45 per cent, bringing its market capitalization to $3.317 trillion. Apple's stock also fell by more than 1 per cent, reducing its market worth to $3.286 trillion.

<o:p>To put the chipmaker’s rally into context, the firm’s market value is more than the gross domestic product of India, which is the world’s fifth-largest economy.</o:p>

Nvidia's spectacular surge in market value over the last year exemplifies Wall Street's passionate confidence in the possibilities of AI technology. This euphoria has driven the S&amp;P 500 and Nasdaq to new highs. However, other investors warn that the enthusiasm may fade if there are signs of a slowdown in AI technology spending.<o:p></o:p>

"It's Nvidia's market; we're all just trading in it," said Steve Sosnick, Interactive Brokers' chief market strategist.<o:p></o:p>

According to data from the London Stock Exchange Group (LSEG), Nvidia has emerged as the most traded business on Wall Street by a large margin, with a recent daily turnover of $50 billion, compared to about $10 billion for Apple, Microsoft, and Tesla. The chipmaker currently accounts for nearly 16 per cent of all trade in S&amp;P 500 companies.<o:p></o:p>

As the race for AI supremacy heats up, Nvidia's dominance and crucial role in the industry illustrate the growing impact of artificial intelligence on the future of technology and investment landscapes.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies.

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies. On Tuesday, shares of the chipmaker rose 3.5 per cent to $135.58, bringing its market capitalisation to an all-time high of $3.335 trillion. This achievement comes just after Nvidia eclipsed Apple, the iPhone powerhouse, to become the world's second most valuable corporation. Microsoft's stock fell 0.45 per cent, bringing its market capitalization to $3.317 trillion. Apple's stock also fell by more than 1 per cent, reducing its market worth to $3.286 trillion. To put the chipmaker’s rally into context, the firm’s market value is more than the gross domestic product of India, which is the world’s fifth-largest economy. Nvidia's spectacular surge in market value over the last year exemplifies Wall Street's passionate confidence in the possibilities of AI technology. This euphoria has driven the S&P 500 and Nasdaq to new highs. However, other investors warn that the enthusiasm may fade if there are signs of a slowdown in AI technology spending. "It's Nvidia's market; we're all just trading in it," said Steve Sosnick, Interactive Brokers' chief market strategist. According to data from the London Stock Exchange Group (LSEG), Nvidia has emerged as the most traded business on Wall Street by a large margin, with a recent daily turnover of $50 billion, compared to about $10 billion for Apple, Microsoft, and Tesla. The chipmaker currently accounts for nearly 16 per cent of all trade in S&P 500 companies. As the race for AI supremacy heats up, Nvidia's dominance and crucial role in the industry illustrate the growing impact of artificial intelligence on the future of technology and investment landscapes. (With inputs from Agencies)

Nvidia becomes the world's most valuable company, surpassing Microsoft in AI dominance

Jensen Huang, the CEO of Nvidia has become the world's 13th richest person, he is worth over $106 Billion. #Gravitas tells you how the 61-year-old made his wealth.

Jensen Huang: How Nvidia CEO became the world's 13th richest person | Gravitas

The AI-craze has lifted the valuation of Nvidia to beyond $3 trillion and boosted the wealth of Jensen Huang.

Huang steadily climbed to the world's wealthiest ranks as the market value of his computer chip maker has risen sharply.

The Nvidia boss's wealth comes from a 3.5% stake in the company, which he helped start in 1993 with Chris Malachowsky and Curtis Prim.

On Wednesday, Nvidia became the first computer chip company to reach $3 trillion in market value, and on Friday, it was flirting with that mark again.

In doing so, the chipmaker surpassed Apple in market value.

According to the Bloomberg Billionaires Index, Huang overtook Michael Dell on Friday to become the 13th in the world's richest list,

His net worth stands at $106.1 billion.

This marks another big milestone for Huang, with his wealth growing by more than %62 billion dollars in 2024.

This is driven by the endless demand for Nvidia chips used to power AI and the 61-year-old's rise in taking over Silicon Valley.

Two other people who have benefitted from the AI craze are Lisa Su, the CEO of Advanced Micro Devices, and Charles Liang, the CEO of Super Micro Computer.

Huang's wealth topped that of every member of the Waltons, who are America's richest family.

This happened last month, after another solid earnings quarter for the chipmaker.

Today, Nvidia commands an ecosystem of hardware and software solutions that rivals AMD and Intel, and they are trying hard to break up or replicate.

This is mainly due to its dominant share of the market for the high-end accelerators used to train AI, and it has yet to show any signs of slowing down or letting its rivals catch up.

Huang said the firm plans to upgrade its so-called AI accelerators every year.

The markets have also rallied significantly on bets on AI and big tech firms this year. The S&amp;P 500 is near a fresh record high, with the market cap of major tech firms growing.

Investors have bet on AI-related companies as the innovation in tech and profit opportunities from this rising technology globally.

With Nvidia being the poster child of AI, the company's rise is not surprising.

However, the breadth of the company's stock rally has surprised everyone despite a weak global economic backdrop, especially considering the Federal Reserve is still on the sidelines and has yet to bring out its knives on rates.

Still, the ever-changing tech dynamics peg AI as the next big thing, and analysts expect Nvidia's rising popularity to continue.

The AI-craze has lifted the valuation of Nvidia to beyond $3 trillion and boosted the wealth of Jensen Huang. Huang steadily climbed to the world's wealthiest ranks as the market value of his computer chip maker has risen sharply.

The AI-craze has lifted the valuation of Nvidia to beyond $3 trillion and boosted the wealth of Jensen Huang. Huang steadily climbed to the world's wealthiest ranks as the market value of his computer chip maker has risen sharply. The Nvidia boss's wealth comes from a 3.5% stake in the company, which he helped start in 1993 with Chris Malachowsky and Curtis Prim. On Wednesday, Nvidia became the first computer chip company to reach $3 trillion in market value, and on Friday, it was flirting with that mark again. In doing so, the chipmaker surpassed Apple in market value. According to the Bloomberg Billionaires Index, Huang overtook Michael Dell on Friday to become the 13th in the world's richest list, His net worth stands at $106.1 billion. This marks another big milestone for Huang, with his wealth growing by more than %62 billion dollars in 2024. This is driven by the endless demand for Nvidia chips used to power AI and the 61-year-old's rise in taking over Silicon Valley. Two other people who have benefitted from the AI craze are Lisa Su, the CEO of Advanced Micro Devices, and Charles Liang, the CEO of Super Micro Computer. Huang's wealth topped that of every member of the Waltons, who are America's richest family. This happened last month, after another solid earnings quarter for the chipmaker. Today, Nvidia commands an ecosystem of hardware and software solutions that rivals AMD and Intel, and they are trying hard to break up or replicate. This is mainly due to its dominant share of the market for the high-end accelerators used to train AI, and it has yet to show any signs of slowing down or letting its rivals catch up. Huang said the firm plans to upgrade its so-called AI accelerators every year. The markets have also rallied significantly on bets on AI and big tech firms this year. The S&P 500 is near a fresh record high, with the market cap of major tech firms growing. Investors have bet on AI-related companies as the innovation in tech and profit opportunities from this rising technology globally. With Nvidia being the poster child of AI, the company's rise is not surprising. However, the breadth of the company's stock rally has surprised everyone despite a weak global economic backdrop, especially considering the Federal Reserve is still on the sidelines and has yet to bring out its knives on rates. Still, the ever-changing tech dynamics peg AI as the next big thing, and analysts expect Nvidia's rising popularity to continue.

Nvidia's $3 trillion boosts Jensen Huang's wealth

The US Government is taking aim at the dominance of major tech companies in the rapidly growing field of artificial intelligence. The Federal Trade Commission and the Department of Justice have agreed to divide responsibilities for investigating potential anti-competitive practices by Microsoft and Nvidia.

US Antitrust probe targets Microsoft & Nvidia in AI Dominance Probe

Chipmaker Nvidia has surged past apple to become the world's second most valuable company. Nvidia's stock price has skyrocketed 147 percent year-to-date, fueled by booming demand for its artificial intelligence processors. This surge has pushed its market capitalization above 3 trillion dollars, surpassing apple's current valuation.

Nvidia surpasses Apple, becomes world's second most valuable company

The artificial intelligence chipmaker Nvidia's market valuation surpassed $3 trillion on Wednesday as its shares surged to all-time highs. Due to the rise, Nvidia is now the second most valuable company in the world, surpassing Apple. This historic accomplishment coincides with Nvidia's strategic planning for a ten-for-one stock split that will take effect on June 7 to&nbsp;appeal to more private investors.<o:p></o:p>

<h2 class="MsoNormal">Shift in Silicon Valley dominance<o:p></o:p></h2>

The surge in the market value of Nvidia over Apple signifies a major change in the hierarchy of Silicon Valley. Following a moderate 0.8 per cent increase in stock price, Apple, a dominant force since the release of the iPhone in 2007, saw its market capitalization hit $3.003 trillion. On the other hand, Nvidia ended the day with a 5.2 per cent increase in share price, closing at $1,224.40, making the firm worth $3.012 trillion. With a 1.9 per cent increase in its shares, Microsoft, a Redmond, Washington-based company, is now the most valuable at $3.15 trillion according to the updated rankings.<o:p></o:p>

<h2 class="MsoNormal">AI demand drives Nvidia's ascent<o:p></o:p></h2>

The soaring demand for Nvidia's advanced artificial intelligence processors is a major factor in the company's extraordinary growth. The huge demand as major giants like Microsoft, Meta Platforms, and Alphabet rush to develop their AI computing skills is reflected in the company's shares, which have&nbsp;gained 147 per cent in 2024 alone. Nvidia's stock has increased by almost 30 per cent since May 22 because of the company's latest revenue projection, which added to investor excitement. Nvidia's market capitalisation surpassed the value of AT&amp;T whole on Wednesday alone, rising by around $150 million.<o:p></o:p>

<h2 class="MsoNormal">Challenges and Comparisons with Apple<o:p></o:p></h2>

Nvidia is benefiting greatly from the AI revolution, whereas Apple is facing difficulties due to declining iPhone demand and fierce competition in China, the country with the largest smartphone market. When it comes to incorporating AI technologies into its goods and services, some investors believe Apple is trailing behind other industry leaders in this regard. Analyst estimates for Nvidia's future profits have similarly exceeded the business's stock gains. LSEG data shows that the company is currently trading at 39 times predicted earnings, down from nearly 70 times a year ago.<o:p></o:p>

<h2 class="MsoNormal">Nvidia CEO in the spotlight<o:p></o:p></h2>

The media has covered Nvidia CEO Jensen Huang extensively, especially in Taiwan, where he was born. His attendance at the Computex tech trade show in Taipei attracted a lot of attention, emphasising his contribution to the business's recent success. The rise of Nvidia highlights the increasing significance of AI technology in the tech sector and its ability to change the dynamics of the market.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

The artificial intelligence chipmaker Nvidia's market valuation surpassed $3 trillion on Wednesday as its shares surged to all-time highs. Due to the rise, Nvidia is now the second most valuable company in the world, surpassing Apple.

The artificial intelligence chipmaker Nvidia's market valuation surpassed $3 trillion on Wednesday as its shares surged to all-time highs. Due to the rise, Nvidia is now the second most valuable company in the world, surpassing Apple. This historic accomplishment coincides with Nvidia's strategic planning for a ten-for-one stock split that will take effect on June 7 to appeal to more private investors. Shift in Silicon Valley dominance The surge in the market value of Nvidia over Apple signifies a major change in the hierarchy of Silicon Valley. Following a moderate 0.8 per cent increase in stock price, Apple, a dominant force since the release of the iPhone in 2007, saw its market capitalization hit $3.003 trillion. On the other hand, Nvidia ended the day with a 5.2 per cent increase in share price, closing at $1,224.40, making the firm worth $3.012 trillion. With a 1.9 per cent increase in its shares, Microsoft, a Redmond, Washington-based company, is now the most valuable at $3.15 trillion according to the updated rankings. AI demand drives Nvidia's ascent The soaring demand for Nvidia's advanced artificial intelligence processors is a major factor in the company's extraordinary growth. The huge demand as major giants like Microsoft, Meta Platforms, and Alphabet rush to develop their AI computing skills is reflected in the company's shares, which have gained 147 per cent in 2024 alone. Nvidia's stock has increased by almost 30 per cent since May 22 because of the company's latest revenue projection, which added to investor excitement. Nvidia's market capitalisation surpassed the value of AT&T whole on Wednesday alone, rising by around $150 million. Challenges and Comparisons with Apple Nvidia is benefiting greatly from the AI revolution, whereas Apple is facing difficulties due to declining iPhone demand and fierce competition in China, the country with the largest smartphone market. When it comes to incorporating AI technologies into its goods and services, some investors believe Apple is trailing behind other industry leaders in this regard. Analyst estimates for Nvidia's future profits have similarly exceeded the business's stock gains. LSEG data shows that the company is currently trading at 39 times predicted earnings, down from nearly 70 times a year ago. Nvidia CEO in the spotlight The media has covered Nvidia CEO Jensen Huang extensively, especially in Taiwan, where he was born. His attendance at the Computex tech trade show in Taipei attracted a lot of attention, emphasising his contribution to the business's recent success. The rise of Nvidia highlights the increasing significance of AI technology in the tech sector and its ability to change the dynamics of the market. (With inputs from Agencies)

Nvidia surpasses Apple to become the world's second-most valuable company

The US Department of Justice and Federal Trade Commission will investigate the industry dominance of Microsoft, OpenAI, and Nvidia in the Artificial Intelligence industry, according to The New York Times.

The US Department of Justice will lead the investigation to see if Nvidia violated antitrust laws, while the Federal Trade Commission will inspect the conduct of OpenAI and Microsoft, the NYT report said.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/iran-criticises-un-nuclear-watchdog-resolution-calls-it-unwise-729238">Iran criticises UN nuclear watchdog resolution, calls it ‘unwise’</a>

Although OpenAI's parent is a nonprofit, Microsoft has invested $13 billion in a for-profit subsidiary, for what would be a 49% stake. The Microsoft-OpenAI partnership is also under informal inquiry in other regions.

The agreement, reached last week by regulators according to sources and is expected to be finalised soon.

The FTC will look into Microsoft's $650 million deal with AI startup Inflection AI, the Wall Street Journal reported on Thursday (June 6), citing a source familiar with the matter.

Notably, in January, the FTC ordered OpenAI, Microsoft, Alphabet, Amazon and Anthropic to provide information on latest investments and partnerships involving generative AI companies and cloud service providers.

The FTC launched a probe into OpenAI last July over concerns that its practices violated consumer protection laws and potentially compromised personal data.

Also read:&nbsp;<a href="https://www.wionews.com/world/russian-hackers-claim-cyberattack-on-spanish-defence-firm-that-is-refurbishing-leopard-tanks-for-ukraine-729139">Russian hackers claim cyberattack on Spanish defence firm that is refurbishing Leopard tanks for Ukraine</a>

US antitrust chief Jonathan Kanter said at an AI conference that structure and trends in AI should give us pause, the technology's reliance on vast amounts of data and computing power creates a significant barrier to entry.

(With inputs from agencies)

The US Department of Justice and Federal Trade Commission will investigate the industry dominance of Microsoft, OpenAI, and Nvidia in the Artificial Intelligence industry, according to The New York Times.

The US Department of Justice and Federal Trade Commission will investigate the industry dominance of Microsoft, OpenAI, and Nvidia in the Artificial Intelligence industry, according to The New York Times. The US Department of Justice will lead the investigation to see if Nvidia violated antitrust laws, while the Federal Trade Commission will inspect the conduct of OpenAI and Microsoft, the NYT report said. Also read: Iran criticises UN nuclear watchdog resolution, calls it ‘unwise’ Although OpenAI's parent is a nonprofit, Microsoft has invested $13 billion in a for-profit subsidiary, for what would be a 49% stake. The Microsoft-OpenAI partnership is also under informal inquiry in other regions. The agreement, reached last week by regulators according to sources and is expected to be finalised soon. The FTC will look into Microsoft's $650 million deal with AI startup Inflection AI, the Wall Street Journal reported on Thursday (June 6), citing a source familiar with the matter. Notably, in January, the FTC ordered OpenAI, Microsoft, Alphabet, Amazon and Anthropic to provide information on latest investments and partnerships involving generative AI companies and cloud service providers. The FTC launched a probe into OpenAI last July over concerns that its practices violated consumer protection laws and potentially compromised personal data. Also read: Russian hackers claim cyberattack on Spanish defence firm that is refurbishing Leopard tanks for Ukraine US antitrust chief Jonathan Kanter said at an AI conference that structure and trends in AI should give us pause, the technology's reliance on vast amounts of data and computing power creates a significant barrier to entry. (With inputs from agencies)

US probes Microsoft, OpenAI, and Nvidia for AI dominance

<h2 class="MsoNormal">Elon Musk confirms major investment in Nvidia technology<o:p></o:p></h2>

Tesla Inc. plans to spend between $3 billion and $4 billion on Nvidia Corp. hardware this year, CEO Elon Musk said in a post on X, formerly known as Twitter, on Tuesday. The investment is part of Tesla's larger push into artificial intelligence, demonstrating the company's commitment to developing its AI capabilities.<o:p></o:p>

<h2 class="MsoNormal">AI capital expenditure to reach $10 billion<o:p></o:p></h2>

Musk indicated that Tesla's total AI-related capital expenditure for the year would be around $10 billion. "For building the AI training superclusters, Nvidia hardware is about 2/3 of the cost," Musk stated on X. He further said that approximately half of the AI cost would be for internal development.<o:p></o:p>

<h2 class="MsoNormal">Nvidia to prioritise shipments to X and xAI<o:p></o:p></h2>

In a related move, Tesla reportedly told Nvidia to prioritise the delivery of AI chips to Musk's other companies, such as the social media platform X,&nbsp;the AI research firm xAI and&nbsp;Tesla's electric vehicle division. This strategic shift emphasises the growing importance of AI technology in Musk's economic enterprise.<o:p></o:p>

<h2 class="MsoNormal">Shareholder Vote on CEO Pay Package Looms<o:p></o:p></h2>

The disclosure comes just ahead of a pivotal shareholder vote on Musk's remuneration package at Tesla. The outcome of this vote could have a significant impact on the company's future direction and the CEO's role.<o:p></o:p>

Tesla confirmed its prediction of more than $10 billion in capital expenditures for the year in April, with future years projected to range from $8 billion to $10 billion. The significant investment in Nvidia hardware is expected to play an important role in advancing Tesla's ambitious AI projects.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Elon Musk confirms major investment in Nvidia technology Tesla Inc. plans to spend between $3 billion and $4 billion on Nvidia Corp. hardware this year, CEO Elon Musk said in a post on X, formerly known as Twitter, on Tuesday.

Elon Musk confirms major investment in Nvidia technology Tesla Inc. plans to spend between $3 billion and $4 billion on Nvidia Corp. hardware this year, CEO Elon Musk said in a post on X, formerly known as Twitter, on Tuesday. The investment is part of Tesla's larger push into artificial intelligence, demonstrating the company's commitment to developing its AI capabilities. AI capital expenditure to reach $10 billion Musk indicated that Tesla's total AI-related capital expenditure for the year would be around $10 billion. "For building the AI training superclusters, Nvidia hardware is about 2/3 of the cost," Musk stated on X. He further said that approximately half of the AI cost would be for internal development. Nvidia to prioritise shipments to X and xAI In a related move, Tesla reportedly told Nvidia to prioritise the delivery of AI chips to Musk's other companies, such as the social media platform X, the AI research firm xAI and Tesla's electric vehicle division. This strategic shift emphasises the growing importance of AI technology in Musk's economic enterprise. Shareholder Vote on CEO Pay Package Looms The disclosure comes just ahead of a pivotal shareholder vote on Musk's remuneration package at Tesla. The outcome of this vote could have a significant impact on the company's future direction and the CEO's role. Tesla confirmed its prediction of more than $10 billion in capital expenditures for the year in April, with future years projected to range from $8 billion to $10 billion. The significant investment in Nvidia hardware is expected to play an important role in advancing Tesla's ambitious AI projects. (With inputs from Agencies)

Tesla to spend up to $4 Billion on Nvidia hardware amid AI expansion

Nvidia's stock jumped 6 per cent to a record high on Tuesday, bringing the AI chipmaker's stock market value to $2.8 trillion, just $100 billion short of surpassing Apple in a huge reshuffle among Wall Street's biggest players.

Trading at $1,128, Nvidia's market capitalisation reached new heights, compared to Apple's $2.9 trillion, making Apple the second-most valuable corporation on Wall Street after Microsoft. During the session, Nvidia's stock rose as much as 8 per cent to an intra-day record high of $1,149.39, while Apple's shares fell 0.2 per cent in afternoon trade.

Nvidia's shares have risen over 13 per cent since it forecasted second-quarter sales beyond Wall Street expectations and announced a stock split last week, reflecting investor interest in the company. "The market has struggled to keep up with the company's steadily increasing growth trajectory. At a mid-thirties forward earnings multiple, this still does not feel like bubble territory," said Derren Nathan, head of equities analysis at Hargreaves Lansdown. According to LSEG statistics, Nvidia recently traded at 36 times projected profit expectations, versus 38 for Advanced Micro Devices and 21 for Intel. Nvidia's stock has more than doubled this year, after more than tripling last year.

Nvidia, a major benefactor of the AI boom, reported a fivefold gain in sales from its data centre division last week as clients demanded its high-performance chips. Alphabet, Microsoft, and Amazon.com are fighting for Nvidia's limited supply of high-end chips in the quest to dominate AI computation. "Business is thriving, there are numerous chances for expansion, and the AI theme remains strong. When the song is so catchy, investors want to keep humming it all day," said Dan Coatsworth, an investment analyst at AJ Bell.

While Nvidia's stock skyrockets, Apple has struggled, underperforming other major technology companies in recent months, and falling 2 per cent this year owing to sluggish iPhone demand and intense competition in China. Microsoft, which eclipsed Apple as the world's most valuable corporation earlier this year, benefited from early investments in AI throughout its cloud services, contributing to its current market worth of $3.1 trillion despite a 0.4 per cent decline in share price on Tuesday.

Apple has also been slower to implement generative AI than competitors such as Microsoft and Google, which are integrating AI into their products more quickly.

Nvidia's rise highlights the increasing importance of AI technology in the market, with investors depending heavily on its sustained growth and profitability.

(With inputs from Reuters)

Nvidia's stock jumped 6 per cent to a record high on Tuesday, bringing the AI chipmaker's stock market value to $2.8 trillion, just $100 billion short of surpassing Apple in a huge reshuffle among Wall Street's biggest players.

Nvidia's stock jumped 6 per cent to a record high on Tuesday, bringing the AI chipmaker's stock market value to $2.8 trillion, just $100 billion short of surpassing Apple in a huge reshuffle among Wall Street's biggest players. Trading at $1,128, Nvidia's market capitalisation reached new heights, compared to Apple's $2.9 trillion, making Apple the second-most valuable corporation on Wall Street after Microsoft. During the session, Nvidia's stock rose as much as 8 per cent to an intra-day record high of $1,149.39, while Apple's shares fell 0.2 per cent in afternoon trade. Nvidia's shares have risen over 13 per cent since it forecasted second-quarter sales beyond Wall Street expectations and announced a stock split last week, reflecting investor interest in the company. "The market has struggled to keep up with the company's steadily increasing growth trajectory. At a mid-thirties forward earnings multiple, this still does not feel like bubble territory," said Derren Nathan, head of equities analysis at Hargreaves Lansdown. According to LSEG statistics, Nvidia recently traded at 36 times projected profit expectations, versus 38 for Advanced Micro Devices and 21 for Intel. Nvidia's stock has more than doubled this year, after more than tripling last year. Nvidia, a major benefactor of the AI boom, reported a fivefold gain in sales from its data centre division last week as clients demanded its high-performance chips. Alphabet, Microsoft, and Amazon.com are fighting for Nvidia's limited supply of high-end chips in the quest to dominate AI computation. "Business is thriving, there are numerous chances for expansion, and the AI theme remains strong. When the song is so catchy, investors want to keep humming it all day," said Dan Coatsworth, an investment analyst at AJ Bell. While Nvidia's stock skyrockets, Apple has struggled, underperforming other major technology companies in recent months, and falling 2 per cent this year owing to sluggish iPhone demand and intense competition in China. Microsoft, which eclipsed Apple as the world's most valuable corporation earlier this year, benefited from early investments in AI throughout its cloud services, contributing to its current market worth of $3.1 trillion despite a 0.4 per cent decline in share price on Tuesday. Apple has also been slower to implement generative AI than competitors such as Microsoft and Google, which are integrating AI into their products more quickly. Nvidia's rise highlights the increasing importance of AI technology in the market, with investors depending heavily on its sustained growth and profitability. (With inputs from Reuters)

Nvidia shares surge to record high, edging closer to Apple in market value

The reaction to nVIDIA's solid earnings revealed that wall street remains laser-focused on AI. But investors are now going outside the typical suspects to uncover the next ai winners. Watch in for more details!

nVIDIA's results bolster AI bets | Investors cast wider net for AI winners

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