Microsoft announced on Thursday that it will offer its cloud computing customers access to AMD's advanced artificial intelligence (AI) chips, presenting a strong competitor to Nvidia's market-leading processors. <o:p></o:p>

Details of this initiative will be shared at the upcoming Build developer conference next week.<o:p></o:p>

Through its Azure cloud computing service, Microsoft will provide clusters of AMD's flagship MI300X AI chips. <o:p></o:p>

These chips are set to rival Nvidia's H100 graphics processing units (GPUs), which are currently in high demand and dominate the data centre AI chip market. <o:p></o:p>

The MI300X chips are designed to train and run large AI models, offering customers a robust alternative to Nvidia's GPUs.<o:p></o:p>

In addition to the AMD offering, Microsoft will introduce a preview of its new Cobalt 100 custom processors at the Build conference. <o:p></o:p>

These processors are reported to deliver 40 per cent better performance compared to other processors based on Arm Holdings' technology. <o:p></o:p>

Snowflake and other companies have already begun using these Cobalt processors.<o:p></o:p>

The move to integrate AMD's MI300X chips into Azure is significant as it addresses the challenge of obtaining Nvidia's high-demand H100 GPUs. <o:p></o:p>

To build and run complex AI models, companies often need to cluster multiple GPUs together, as the required data and computations exceed the capacity of a single processor. <o:p></o:p>

AMD projects $4 billion in revenue from its AI chips this year, highlighting the growing demand and capability of these processors.<o:p></o:p>

Furthermore, Microsoft's Azure cloud unit also sells access to its own in-house AI chips, named Maia, which adds to the variety of options available for customers seeking AI solutions. <o:p></o:p>

The introduction of AMD's MI300X chips and the Cobalt 100 processors demonstrates Microsoft's strategy to diversify its AI hardware offerings and enhance its competitive edge in the cloud computing market.<o:p></o:p>

The Cobalt 100 processors, which were initially announced in November, are currently being tested to power Microsoft Teams, the company's business messaging tool. <o:p></o:p>

These processors are positioned to compete with Amazon's in-house Graviton CPUs, further intensifying the competition in the cloud computing space.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Microsoft announced on Thursday that it will offer its cloud computing customers access to AMD's advanced artificial intelligence (AI) chips, presenting a strong competitor to Nvidia's market-leading processors.

Microsoft announced on Thursday that it will offer its cloud computing customers access to AMD's advanced artificial intelligence (AI) chips, presenting a strong competitor to Nvidia's market-leading processors. Details of this initiative will be shared at the upcoming Build developer conference next week. Through its Azure cloud computing service, Microsoft will provide clusters of AMD's flagship MI300X AI chips. These chips are set to rival Nvidia's H100 graphics processing units (GPUs), which are currently in high demand and dominate the data centre AI chip market. The MI300X chips are designed to train and run large AI models, offering customers a robust alternative to Nvidia's GPUs. In addition to the AMD offering, Microsoft will introduce a preview of its new Cobalt 100 custom processors at the Build conference. These processors are reported to deliver 40 per cent better performance compared to other processors based on Arm Holdings' technology. Snowflake and other companies have already begun using these Cobalt processors. The move to integrate AMD's MI300X chips into Azure is significant as it addresses the challenge of obtaining Nvidia's high-demand H100 GPUs. To build and run complex AI models, companies often need to cluster multiple GPUs together, as the required data and computations exceed the capacity of a single processor. AMD projects $4 billion in revenue from its AI chips this year, highlighting the growing demand and capability of these processors. Furthermore, Microsoft's Azure cloud unit also sells access to its own in-house AI chips, named Maia, which adds to the variety of options available for customers seeking AI solutions. The introduction of AMD's MI300X chips and the Cobalt 100 processors demonstrates Microsoft's strategy to diversify its AI hardware offerings and enhance its competitive edge in the cloud computing market. The Cobalt 100 processors, which were initially announced in November, are currently being tested to power Microsoft Teams, the company's business messaging tool. These processors are positioned to compete with Amazon's in-house Graviton CPUs, further intensifying the competition in the cloud computing space. (With inputs from Reuters)

Microsoft unveils AMD-powered AI chips to challenge Nvidia’s position

Big tech companies are pouring billions into artificial intelligence with NVidia set to be the biggest winner. Ai is expected to boost revenue across the tech sector, and these companies need massive computing power to develop AI. This creates a surge in demand for cloud services from companies like google and Microsoft, who rely heavily on Nvidia's graphics processing units (Gpus) for AI tasks.

Nvidia leads AI charge as tech spends surge

To challenge Nvidia's dominance in semiconductors, tech giant Intel revealed a new version of its artificial intelligence chip at a company event. Intel said that its new Gaudi-3 chip is capable of training large language models 50% more quickly than Nvidia's h100 processor.

Report: Intel's Gaudi-3 50% quicker than Nvidia's H100 processor

In the world of Artificial Intelligence it's Nvidia that's been the go-to for both hardware and software. The platform has been a staple for developers worldwide for almost two decades but now things are changing. Watch in for more details!

UXL to break Nvidia's grip on AI development?

The global AI race has got yet another boost, thanks to market leader Nvidia. The chip maker has announced its latest AI chip 'B200', which is reportedly 30 times faster than its predecessors. Nvidia's latest innovation is not only likely to extend its market domination but also heat the AI race.

Latest chip is 30 times faster at some tasks than its predecessor

Nvidia, spearheaded by CEO Jensen Huang, showcased its latest technological marvels at the annual developer conference, reinforcing its stronghold in the artificial intelligence (AI) industry. <o:p></o:p>

With the introduction of the B200 flagship AI chip, Nvidia aims to maintain its 80 per cent market share dominance.<o:p></o:p>

The unveiling marks a pivotal moment for the chip manufacturing giant as it navigates an increasingly competitive landscape.<o:p></o:p>

B200: A leap forward in AI technology<o:p></o:p>

Huang took the centre stage at the conference to reveal Nvidia's newest creation, the B200 chip. Boasting a remarkable 30-fold increase in speed compared to its predecessor, this cutting-edge chip promises to revolutionise AI processing capabilities. <o:p></o:p>

While specific performance metrics remain undisclosed, the B200, codenamed "Blackwell," showcases Nvidia's commitment to pushing the boundaries of innovation in AI technology.<o:p></o:p>

Strategic shifts and market impact<o:p></o:p>

In a bid to diversify its offerings and cater to evolving market demands, Nvidia announced strategic shifts in its product portfolio. <o:p></o:p>

The company transitioned from single-chip sales to comprehensive system solutions, integrating 72 AI chips and 36 central processors into its latest iteration. <o:p></o:p>

Customer endorsements and market reception <o:p></o:p>

Major tech players, including Amazon, Google, Microsoft, OpenAI, and Oracle, expressed their intent to leverage Nvidia's B200 chip in their cloud computing services and AI initiatives. <o:p></o:p>

However, Nvidia's stock experienced a modest dip in extended trading, signalling a cautious market response to the company's announcements. <o:p></o:p>

Despite this, industry experts remain optimistic about Nvidia's competitive edge and market leadership. <o:p></o:p>

Software advancements and collaborative ventures<o:p></o:p>

In addition to hardware innovations, Nvidia unveiled a suite of software tools aimed at enhancing system efficiency and streamlining AI model integration. <o:p></o:p>

These microservices are set to pave the way for seamless adoption of AI across various industries, positioning Nvidia as a pioneer in software-driven solutions. <o:p></o:p>

Furthermore, strategic partnerships with leading design software companies, including Ansys, Cadence, and Synopsys, highlights Nvidia's commitment to fostering collaborative ventures and driving innovation across sectors.<o:p></o:p>

&nbsp;(With inputs from Reuters)<o:p></o:p>

Nvidia, spearheaded by CEO Jensen Huang, showcased its latest technological marvels at the annual developer conference, reinforcing its stronghold in the artificial intelligence (AI) industry.

Nvidia, spearheaded by CEO Jensen Huang, showcased its latest technological marvels at the annual developer conference, reinforcing its stronghold in the artificial intelligence (AI) industry. With the introduction of the B200 flagship AI chip, Nvidia aims to maintain its 80 per cent market share dominance. The unveiling marks a pivotal moment for the chip manufacturing giant as it navigates an increasingly competitive landscape. B200: A leap forward in AI technology Huang took the centre stage at the conference to reveal Nvidia's newest creation, the B200 chip. Boasting a remarkable 30-fold increase in speed compared to its predecessor, this cutting-edge chip promises to revolutionise AI processing capabilities. While specific performance metrics remain undisclosed, the B200, codenamed "Blackwell," showcases Nvidia's commitment to pushing the boundaries of innovation in AI technology. Strategic shifts and market impact In a bid to diversify its offerings and cater to evolving market demands, Nvidia announced strategic shifts in its product portfolio. The company transitioned from single-chip sales to comprehensive system solutions, integrating 72 AI chips and 36 central processors into its latest iteration. Customer endorsements and market reception Major tech players, including Amazon, Google, Microsoft, OpenAI, and Oracle, expressed their intent to leverage Nvidia's B200 chip in their cloud computing services and AI initiatives. However, Nvidia's stock experienced a modest dip in extended trading, signalling a cautious market response to the company's announcements. Despite this, industry experts remain optimistic about Nvidia's competitive edge and market leadership. Software advancements and collaborative ventures In addition to hardware innovations, Nvidia unveiled a suite of software tools aimed at enhancing system efficiency and streamlining AI model integration. These microservices are set to pave the way for seamless adoption of AI across various industries, positioning Nvidia as a pioneer in software-driven solutions. Furthermore, strategic partnerships with leading design software companies, including Ansys, Cadence, and Synopsys, highlights Nvidia's commitment to fostering collaborative ventures and driving innovation across sectors. (With inputs from Reuters)

Nvidia unveils B200 AI chip, fortifying market dominance in the AI industry

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Evergrande’s Scandal: China's property giant accused of $78 bn fraud<o:p></o:p>

China's real estate giant, Evergrande, and its founder, Hui Ka Yan, are ensnared in a $78 billion fraud scandal.

<a href="https://www.wionews.com/business-economy/evergrandes-scandal-chinas-property-giant-accused-of-78-bn-fraud-701699">Read more here</a><o:p></o:p>

Egypt's Economic Resurgence: World Bank unleashes $6 bn aid package<o:p></o:p>

Egypt's economy receives a substantial boost as the World Bank announces a hefty aid package exceeding $6 billion.

<a href="https://www.wionews.com/business-economy/egypts-economic-resurgence-world-bank-unleashes-6-bn-aid-package-701728">Read more here</a><o:p></o:p>

Nvidia unveils B200 AI chip, fortifying market dominance in the AI industry<o:p></o:p>

Nvidia, spearheaded by CEO Jensen Huang, showcased its latest technological marvels at the annual developer conference, reinforcing its stronghold in the artificial intelligence (AI) industry.

<a href="https://www.wionews.com/business-economy/nvidia-unveils-b200-ai-chip-fortifying-market-dominance-in-the-ai-industry-701752">Read more here</a><o:p></o:p>

Commodity trading industry boasts second-best year ever with over $100 bn in profits<o:p></o:p>

The global commodity trading industry&nbsp;witnessed a stellar performance, raking in profits exceeding $100 billion, marking its second-best year on record.

<a href="https://www.wionews.com/business-economy/commodity-trading-industry-boasts-second-best-year-ever-with-over-100-bn-in-profits-701759">Read more here</a><o:p></o:p>

EU and Philippines rekindle free trade negotiations after seven-year hiatus<o:p></o:p>

Following a seven-year hiatus, the European Union (EU) and the Philippines have announced the revival of their free trade negotiations, signalling a renewed effort to bolster economic ties between the two regions.

<a href="https://www.wionews.com/business-economy/eu-and-philippines-rekindle-free-trade-negotiations-after-seven-year-hiatus-701782">Read more here</a><o:p></o:p>

Apple asserts compliance with EU's digital markets act amidst scrutiny<o:p></o:p>

Apple has defended its adherence to the European Union's Digital Markets Act (DMA), countering criticism that it hasn't taken sufficient steps to open up its closed ecosystem as mandated by the legislation.

<a href="https://www.wionews.com/business-economy/apple-asserts-compliance-with-eus-digital-markets-act-amidst-scrutiny-701793">Read more here</a><o:p></o:p>

European start-ups navigate complex debt deals amid funding downturn<o:p></o:p>

In the wake of a funding drought gripping Europe's venture capital scene, start-ups are turning to intricate debt arrangements to secure vital capital.

<a href="https://www.wionews.com/business-economy/european-start-ups-navigate-complex-debt-deals-amid-funding-downturn-701799">Read more here</a><o:p></o:p>

Fidelity International plans layoffs amid China market challenges<o:p></o:p>

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China.

<a href="https://www.wionews.com/business-economy/fidelity-international-plans-layoffs-amid-china-market-challenges-701768">Read more here</a><o:p></o:p>

Nvidia expands collaborations with Chinese automakers&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China.

<a href="https://www.wionews.com/business-economy/nvidia-expands-collaborations-with-chinese-automakers-701773">Read more here</a><o:p></o:p>

IRS Commissioner outlines plans to boost workforce for modernisation goals<o:p></o:p>

Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives.

<a href="https://www.wionews.com/business-economy/irs-commissioner-outlines-plans-to-boost-workforce-for-modernisation-goals-701775">Read more here</a><o:p></o:p>

Ethiopia bank glitch allows customers to withdraw millions. Here’s what happened<o:p></o:p>

Over the weekend, Ethiopia’s biggest commercial bank witnessed a “systems glitch” which allowed customers to withdraw millions.&nbsp;

<a href="https://www.wionews.com/business-economy/ethiopia-bank-glitch-allows-customers-to-withdraw-millions-heres-what-happened-701766">Read more here</a><o:p></o:p>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Evergrande’s Scandal: China's property giant accused of $78 bn fraud China's real estate giant, Evergrande, and its founder, Hui Ka Yan, are ensnared in a $78 billion fraud scandal.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Evergrande’s Scandal: China's property giant accused of $78 bn fraud China's real estate giant, Evergrande, and its founder, Hui Ka Yan, are ensnared in a $78 billion fraud scandal. Read more here Egypt's Economic Resurgence: World Bank unleashes $6 bn aid package Egypt's economy receives a substantial boost as the World Bank announces a hefty aid package exceeding $6 billion. Read more here Nvidia unveils B200 AI chip, fortifying market dominance in the AI industry Nvidia, spearheaded by CEO Jensen Huang, showcased its latest technological marvels at the annual developer conference, reinforcing its stronghold in the artificial intelligence (AI) industry. Read more here Commodity trading industry boasts second-best year ever with over $100 bn in profits The global commodity trading industry witnessed a stellar performance, raking in profits exceeding $100 billion, marking its second-best year on record. Read more here EU and Philippines rekindle free trade negotiations after seven-year hiatus Following a seven-year hiatus, the European Union (EU) and the Philippines have announced the revival of their free trade negotiations, signalling a renewed effort to bolster economic ties between the two regions. Read more here Apple asserts compliance with EU's digital markets act amidst scrutiny Apple has defended its adherence to the European Union's Digital Markets Act (DMA), countering criticism that it hasn't taken sufficient steps to open up its closed ecosystem as mandated by the legislation. Read more here European start-ups navigate complex debt deals amid funding downturn In the wake of a funding drought gripping Europe's venture capital scene, start-ups are turning to intricate debt arrangements to secure vital capital. Read more here Fidelity International plans layoffs amid China market challenges In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China. Read more here Nvidia expands collaborations with Chinese automakers In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China. Read more here IRS Commissioner outlines plans to boost workforce for modernisation goals Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives. Read more here Ethiopia bank glitch allows customers to withdraw millions. Here’s what happened Over the weekend, Ethiopia’s biggest commercial bank witnessed a “systems glitch” which allowed customers to withdraw millions. Read more here

WION Business Wrap | Evergrande’s $78 bn fraud, Egypt’s economic resurgence, Nvidia’s B200 AI chip and more

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features.

Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year.

The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms.

Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California.

Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology.

These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets.

Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities.

Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing.

Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment.

Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands.

Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions.

(With inputs from Reuters)

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally. BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features. Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year. The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms. Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California. Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology. These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets. Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities. Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing. Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment. Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands. Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions. (With inputs from Reuters)

Nvidia expands collaborations with Chinese automakers

Nvidia, renowned for its AI-powered chips, finds itself entangled in a legal battle as three authors file a lawsuit against the tech giant. <o:p></o:p>

Brian Keene, Abdi Nazemian, and Stewart O'Nan have accused Nvidia of utilising their copyrighted books without permission to train its NeMo AI platform. <o:p></o:p>

The authors claim that Nvidia used their works as part of a dataset that included about 196,640 volumes to train NeMo to simulate written language.

Although the dataset was taken down in October due to reported copyright infringement, the authors claim Nvidia's admission of training NeMo on the dataset constitutes copyright infringement.<o:p></o:p>

Authors seek damages<o:p></o:p>

The writers are requesting unspecified damages on behalf of US writers whose copyrighted works were used over the previous three years to train NeMo's huge language models in a proposed class action filed in federal court in San Francisco.

The pieces that are included in the complaint are "Ghost Walk" by Keene, "Like a Love Story" by Nazemian, and "Last Night at the Lobster" by O'Nan.

Nvidia has refrained from commenting on the matter, while legal representatives for the authors have yet to provide additional statements.

Growing litigation in AI sphere<o:p></o:p>

This lawsuit adds Nvidia to the list of companies facing legal scrutiny over generative AI technology, which generates new content based on various inputs. <o:p></o:p>

Nvidia's NeMo platform, lauded for its speed and affordability in adopting generative AI, has attracted attention from both creators and litigators. <o:p></o:p>

The tech industry has witnessed a surge in legal disputes surrounding AI, with notable cases involving OpenAI and Microsoft.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Nvidia, renowned for its AI-powered chips, finds itself entangled in a legal battle as three authors file a lawsuit against the tech giant. Brian Keene, Abdi Nazemian, and Stewart O'Nan have accused Nvidia of utilising their copyrighted books without permission to train its NeMo AI platform.

Nvidia, renowned for its AI-powered chips, finds itself entangled in a legal battle as three authors file a lawsuit against the tech giant. Brian Keene, Abdi Nazemian, and Stewart O'Nan have accused Nvidia of utilising their copyrighted books without permission to train its NeMo AI platform. The authors claim that Nvidia used their works as part of a dataset that included about 196,640 volumes to train NeMo to simulate written language. Although the dataset was taken down in October due to reported copyright infringement, the authors claim Nvidia's admission of training NeMo on the dataset constitutes copyright infringement. Authors seek damages The writers are requesting unspecified damages on behalf of US writers whose copyrighted works were used over the previous three years to train NeMo's huge language models in a proposed class action filed in federal court in San Francisco. The pieces that are included in the complaint are "Ghost Walk" by Keene, "Like a Love Story" by Nazemian, and "Last Night at the Lobster" by O'Nan. Nvidia has refrained from commenting on the matter, while legal representatives for the authors have yet to provide additional statements. Growing litigation in AI sphere This lawsuit adds Nvidia to the list of companies facing legal scrutiny over generative AI technology, which generates new content based on various inputs. Nvidia's NeMo platform, lauded for its speed and affordability in adopting generative AI, has attracted attention from both creators and litigators. The tech industry has witnessed a surge in legal disputes surrounding AI, with notable cases involving OpenAI and Microsoft. (With inputs from Reuters)

Authors sue Nvidia for copyright infringement in AI training: Report

Nvidia is now the third most valuable firm in the world, surpassing Saudi Aramco in market value. It is just behind Apple and Microsoft. This marks another milestone for the chipmaker.

Nvidia leaps Aramco to be in top 3 list, claims another milestone

Wall Street stocks finished the week with a flourish after continued momentum for equities tied to artificial intelligence, especially Nvidia, which finished with a valuation above $2 trillion for the first time.

Traders' diary: Events to watch this week

American chipmaker NVIDIA is now worth more than every country's GDP in the world except 11. Its market valuation has surpassed the likes of Russia, South Korea and Australia.

Gravitas | Nvidia worth more than the GDP of Russia

US chip maker NVidia briefly hit $2 trillion in market value for the first time on Friday. The milestone was reached on the back of insatiable demand for chips, as the firm pioneered the generative artificial intelligence boom.

Nvidia briefly hits $2 trillion in market capitalisation

Why Artificial Intelligence is the secret behind Nvidia's success. Chipmaker Nvidia is turning eyeballs around the world. The company's valuation has grown from $1 trillion to $2 trillion in just eight months. This is the fastest growth for an American company. What is the secret of Nvidia's success? Is it Artificial Intelligence?

Why Artificial Intelligence is the secret behind Nvidia's success

Nvidia hit $2 trillion in market value for the first time on Friday, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom.

The milestone followed another bumper revenue forecast from the chip designer that drove up its market value by $277 billion on Thursday - Wall Street's largest one-day gain on record.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/business-economy/nvidia-surpasses-alphabet-to-claim-third-spot-in-wall-streets-valuation-race-690433" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/nvidia-surpasses-alphabet-to-claim-third-spot-in-wall-streets-valuation-race-690433&amp;sa=U&amp;ved=2ahUKEwih5ur-5cGEAxWy4jgGHer9DtIQFnoECAAQAg&amp;usg=AOvVaw1ywSoiMhpARXFLeLGTaeQE" dir="ltr" href="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/nvidia-surpasses-alphabet-to-claim-third-spot-in-wall-streets-valuation-race-690433&amp;sa=U&amp;ved=2ahUKEwih5ur-5cGEAxWy4jgGHer9DtIQFnoECAAQAg&amp;usg=AOvVaw1ywSoiMhpARXFLeLGTaeQE" target="_blank">Nvidia&nbsp;surpasses Alphabet to claim third spot in Wall Street</a>

Its rapid ascent in the past year has led analysts to draw parallels to the picks and shovels providers during the gold rush of 1800s as Nvidia's chips are used by almost all generative AI players from chatGPT-maker OpenAI to Google.

That has helped the company vault from $1 trillion to $2 trillion market value in around eight months - the fastest among U.S. companies and in less than half the time it took tech giants Apple and Microsoft.

"For AI companies today - the leaders of the sector - what's going to be binding for them is not going to be demand. It's just going to be their capacity to answer the surging demand," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/nvidia-options-traders-anticipate-volatility-surge-ahead-of-earnings-report-690797">Nvidia options traders anticipate volatility surge ahead of earnings report</a>

Nvidia's shares were trading about 3% higher at a record high of $808 on Friday, maintaining its position as the third most valuable U.S. firm.

That gave the company a market value of $2.05 trillion, compared with $1.52 trillion at the end of January. Its shares have surged nearly 60% this year, after more than tripling in value in 2023.

The chip designer's 2024 share jump has been crucial for the S&amp;P 500's performance, contributing to more than a quarter of the stock index's rise this year.

Its latest market-beating forecast of a whopping 233% growth in first-quarter revenue helped global markets notch record highs on Thursday.

Watch:&nbsp;US chipmaker Nvidia reaches $1 trillion milestone

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The breakneck growth has drawn analysts and investors from far and wide to Nvidia.

"I'm a European fund manager, but I must have had more emails about their results than I've had about any other set. There have been calls, every broker doing 10-minute debriefs, it's been mind boggling," said one investor, who declined to be named.

Despite the share surge, Nvidia's valuation has fallen due to rapid increases in analysts' estimates. It has a 12-month forward price-to-earnings ratio of about 31, down from 49 times a year ago, according to LSEG data.

"Leading cloud computing companies plan to boost their capital expenditures to satisfy demand for artificial intelligence training and inference, and it appears that virtually all this spending will fall into Nvidia's pockets," said Brian Colello, a strategist at Morningstar.

"We anticipate revenue will rise by a couple of billion each quarter throughout fiscal 2025 for Nvidia as more chip supply comes online."

Nvidia hit $2 trillion in market value for the first time on Friday, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom.

Nvidia hit $2 trillion in market value for the first time on Friday, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom. The milestone followed another bumper revenue forecast from the chip designer that drove up its market value by $277 billion on Thursday - Wall Street's largest one-day gain on record. Also read: Nvidia surpasses Alphabet to claim third spot in Wall Street Its rapid ascent in the past year has led analysts to draw parallels to the picks and shovels providers during the gold rush of 1800s as Nvidia's chips are used by almost all generative AI players from chatGPT-maker OpenAI to Google. That has helped the company vault from $1 trillion to $2 trillion market value in around eight months - the fastest among U.S. companies and in less than half the time it took tech giants Apple and Microsoft. "For AI companies today - the leaders of the sector - what's going to be binding for them is not going to be demand. It's just going to be their capacity to answer the surging demand," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Also read: Nvidia options traders anticipate volatility surge ahead of earnings report Nvidia's shares were trading about 3% higher at a record high of $808 on Friday, maintaining its position as the third most valuable U.S. firm. That gave the company a market value of $2.05 trillion, compared with $1.52 trillion at the end of January. Its shares have surged nearly 60% this year, after more than tripling in value in 2023. The chip designer's 2024 share jump has been crucial for the S&P 500's performance, contributing to more than a quarter of the stock index's rise this year. Its latest market-beating forecast of a whopping 233% growth in first-quarter revenue helped global markets notch record highs on Thursday. Watch: US chipmaker Nvidia reaches $1 trillion milestone × The breakneck growth has drawn analysts and investors from far and wide to Nvidia. "I'm a European fund manager, but I must have had more emails about their results than I've had about any other set. There have been calls, every broker doing 10-minute debriefs, it's been mind boggling," said one investor, who declined to be named. Despite the share surge, Nvidia's valuation has fallen due to rapid increases in analysts' estimates. It has a 12-month forward price-to-earnings ratio of about 31, down from 49 times a year ago, according to LSEG data. "Leading cloud computing companies plan to boost their capital expenditures to satisfy demand for artificial intelligence training and inference, and it appears that virtually all this spending will fall into Nvidia's pockets," said Brian Colello, a strategist at Morningstar. "We anticipate revenue will rise by a couple of billion each quarter throughout fiscal 2025 for Nvidia as more chip supply comes online."

Nvidia hits $2 trillion valuation as AI frenzy grips Wall Street

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day.

The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI).&nbsp;<o:p></o:p>

"The speed (at which Nvidia's stock is rising) is faster than I had expected, but I think it's justified (given the fundamental improvements in AI computing )", Reuters quoted Russ Mould, investment director at AJ Bell as saying. <o:p></o:p>

Nvidia's stock skyrocketed by 16.4 per cent to close at $785.38, setting a new record-high close and making it the third-most valuable company in the US stock market, surpassing tech behemoths like Amazon.com and Alphabet. <o:p></o:p>

The surge in Nvidia's market value not only outpaced the entire value of Coca-Cola but also propelled the broader S&amp;P 500, Europe's STOXX 600, and Japan's Nikkei share average to record highs, underscoring the ripple effect of Nvidia's performance across global markets.<o:p></o:p>

Investor sentiment soared as Nvidia forecasted a 233 per cent growth in current-quarter revenue, surpassing market expectations and signalling strong demand for its chips. <o:p></o:p>

Advanced Micro Devices and Broadcom, among other chipmakers exposed to AI, also witnessed significant rallies, further fuelling the optimism surrounding the tech sector. <o:p></o:p>

The Philadelphia chip index surged to a record high with its biggest one-day gain since May 2023, while the S&amp;P 500 and the Nasdaq also soared to new heights, signalling a broader market rally.<o:p></o:p>

While Nvidia's meteoric rise has garnered widespread acclaim, concerns lingered among some analysts regarding the company's rapid growth trajectory and potential headwinds such as US curbs on chip sales to China. <o:p></o:p>

Despite the rapid pace of gains, at least 17 brokerages raised their price targets post-results, reflecting bullish sentiments. <o:p></o:p>

However, UBS tempered its optimism, citing concerns over a potential slowdown in revenue growth.<o:p></o:p>

"We've gotten well ahead of expectations and baked in a lot for the next three years," remarked Paul Nolte, senior wealth adviser and market strategist at Murphy &amp; Sylvest.<o:p></o:p>

Short sellers, who bet on Nvidia's stock decline, rushed to close their trades, having incurred significant losses amid the stock's ascent.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI).

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI). "The speed (at which Nvidia's stock is rising) is faster than I had expected, but I think it's justified (given the fundamental improvements in AI computing )", Reuters quoted Russ Mould, investment director at AJ Bell as saying. Nvidia's stock skyrocketed by 16.4 per cent to close at $785.38, setting a new record-high close and making it the third-most valuable company in the US stock market, surpassing tech behemoths like Amazon.com and Alphabet. The surge in Nvidia's market value not only outpaced the entire value of Coca-Cola but also propelled the broader S&P 500, Europe's STOXX 600, and Japan's Nikkei share average to record highs, underscoring the ripple effect of Nvidia's performance across global markets. Investor sentiment soared as Nvidia forecasted a 233 per cent growth in current-quarter revenue, surpassing market expectations and signalling strong demand for its chips. Advanced Micro Devices and Broadcom, among other chipmakers exposed to AI, also witnessed significant rallies, further fuelling the optimism surrounding the tech sector. The Philadelphia chip index surged to a record high with its biggest one-day gain since May 2023, while the S&P 500 and the Nasdaq also soared to new heights, signalling a broader market rally. While Nvidia's meteoric rise has garnered widespread acclaim, concerns lingered among some analysts regarding the company's rapid growth trajectory and potential headwinds such as US curbs on chip sales to China. Despite the rapid pace of gains, at least 17 brokerages raised their price targets post-results, reflecting bullish sentiments. However, UBS tempered its optimism, citing concerns over a potential slowdown in revenue growth. "We've gotten well ahead of expectations and baked in a lot for the next three years," remarked Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest. Short sellers, who bet on Nvidia's stock decline, rushed to close their trades, having incurred significant losses amid the stock's ascent. (With inputs from Reuters)

Nvidia's surge adds $277 billion in market value, spurring record stock rally

US chip maker Nvidia's massive growth story continues. The semiconductor company posted 265% revenue growth in the October-December quarter. Watch in for more details!

Nvidia posts 265 per cent revenue growth in Oct-Dec quarter

Chipmaker Nvidia dethrones Tesla to become the most traded stock by value. It’s the latest in what has been a climb up for Nvidia, as it surged past Amazon & alphabet to become the world’s third most valuable company.

Nvidia surpasses Tesla as Wall Street's most-traded stock

Traders in the US equity options market are bracing for a substantial movement in Nvidia's shares following the upcoming earnings report of the leading artificial intelligence chipmaker. <o:p></o:p>

Analysts suggest that Nvidia's earnings report, scheduled for release on February 21, could trigger an extraordinary shift in the stock's value, with expectations indicating a potential swing of approximately 11 per cent in either direction. <o:p></o:p>

This move stands out as the most significant projection made by options traders in the past three years, signalling heightened volatility on the horizon.<o:p></o:p>

According to Matt Amberson, the founder of options analytics service ORATS, the predicted swing in Nvidia's shares is substantial, considering the company's market capitalization of $1.8 trillion. <o:p></o:p>

A movement of this magnitude could result in a market value shift of approximately $200 billion, surpassing the market capitalisation of prominent entities like Intel Corp and exceeding that of around 90 per cent of S&amp;P 500 constituents.<o:p></o:p>

The anticipation surrounding Nvidia's earnings is reflected in the options market activity, with over 750,000 Nvidia options exchanged by early Thursday afternoon, making it one of the most actively traded single stock names in the options market. <o:p></o:p>

Despite the significant upward trajectory of Nvidia's stock, there remains considerable demand for upside options bets, as indicated by the stock's 90-day 25 delta call skew, which is near a five-year high.<o:p></o:p>

Christopher Jacobson, a strategist at Susquehanna Financial Group, highlighted the significance of the elevated call skew, suggesting that investors continue to perceive substantial upside potential in Nvidia's stock.<o:p></o:p>

&nbsp;This sentiment persists despite the recent surge in volatility, with many investors turning to upside calls for lower-risk exposure amid the uncertainty.<o:p></o:p>

Nvidia's recent performance underscores its growing prominence in the market, as the company surpassed Google-parent Alphabet to become the third most valuable US company. <o:p></o:p>

Analysts are optimistic about Nvidia's earnings prospects, with expectations pinned on earnings of $4.56 per share and a substantial rise in quarterly revenue to $20.378 billion compared to $6.05 billion a year ago, according to estimates from 33 analysts.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Traders in the US equity options market are bracing for a substantial movement in Nvidia's shares following the upcoming earnings report of the leading artificial intelligence chipmaker.

Traders in the US equity options market are bracing for a substantial movement in Nvidia's shares following the upcoming earnings report of the leading artificial intelligence chipmaker. Analysts suggest that Nvidia's earnings report, scheduled for release on February 21, could trigger an extraordinary shift in the stock's value, with expectations indicating a potential swing of approximately 11 per cent in either direction. This move stands out as the most significant projection made by options traders in the past three years, signalling heightened volatility on the horizon. According to Matt Amberson, the founder of options analytics service ORATS, the predicted swing in Nvidia's shares is substantial, considering the company's market capitalization of $1.8 trillion. A movement of this magnitude could result in a market value shift of approximately $200 billion, surpassing the market capitalisation of prominent entities like Intel Corp and exceeding that of around 90 per cent of S&P 500 constituents. The anticipation surrounding Nvidia's earnings is reflected in the options market activity, with over 750,000 Nvidia options exchanged by early Thursday afternoon, making it one of the most actively traded single stock names in the options market. Despite the significant upward trajectory of Nvidia's stock, there remains considerable demand for upside options bets, as indicated by the stock's 90-day 25 delta call skew, which is near a five-year high. Christopher Jacobson, a strategist at Susquehanna Financial Group, highlighted the significance of the elevated call skew, suggesting that investors continue to perceive substantial upside potential in Nvidia's stock. This sentiment persists despite the recent surge in volatility, with many investors turning to upside calls for lower-risk exposure amid the uncertainty. Nvidia's recent performance underscores its growing prominence in the market, as the company surpassed Google-parent Alphabet to become the third most valuable US company. Analysts are optimistic about Nvidia's earnings prospects, with expectations pinned on earnings of $4.56 per share and a substantial rise in quarterly revenue to $20.378 billion compared to $6.05 billion a year ago, according to estimates from 33 analysts. (With inputs from Reuters)

Nvidia options traders anticipate volatility surge ahead of earnings report

On Feb 14, 2024, chip making giant Nvidia made headlines as it replaced Alphabet as Wall Street’s third most valuable company, with its market value standing at $1.825 trillion. It even surpassed other tech giants including Jeff Bezo’s Amazon.

Market analysts now hold Nvidia in high regard due to increased demand for AI chips.

As the company stands victorious in the chip race, we go back to Nvidia’s beginning and try to answer the question: what has made Nvidia so successful today?

Early Days and Strategic Vision: From gaming to AI superpower (1993-2004)

Founded by CEO Jensen Huang in Sunnyvale, California, Nvidia entered the scene in 1993 with a focus on graphics processing units (GPUs) for the burgeoning gaming market.

Initially, the company's chips successfully powered iconic games like Quake and Unreal Tournament.

&nbsp;Huang recognised that GPUs held untapped potential beyond gaming, particularly in their parallel processing capabilities ideal for complex calculations.

This vision would become the cornerstone of Nvidia's future success.

By the early 2000s, Nvidia began shifting its focus towards artificial intelligence (AI) and high-performance computing (HPC).

This was a bold move, considering that AI was developing at its earliest stages.

Fortunately Huang's foresight came true, as the demand for AI applications began to rapidly grow.

This shift laid the groundwork for Nvidia's transformation from a gaming specialist to a leader in AI and HPC.

Innovation: Building the foundation for success

Nvidia's success story is deeply intertwined with its constant pursuit of innovation.

The company has invested heavily in research and development, leading to groundbreaking advancements in chip architecture and performance.

One of the well-known examples is the Tensor Core technology, a revolutionary design specifically developed for AI workloads.

This innovation boosted the performance of AI algorithms, solidifying Nvidia's position as a key player in the AI revolution.

But innovation was not limited to hardware.

Nvidia also recognised the importance of software development.

The company poured resources into creating Compute Unified Device Architecture (CUDA), a parallel programming platform that allowed developers to easily leverage the power of GPUs for AI and HPC applications.

This move fuelled internal development and also fostered a diverse ecosystem of third-party developers, which made companies quickly adopt Nvidia's technology.

Ecosystem Building: Power in collaboration

Nvidia realised that success in the realm of AI and HPC would not be achieved alone.

The company actively fostered a strong ecosystem of partners, including software developers, hardware manufacturers, and cloud service providers.

This collaborative approach proved highly successful.

Leading software developers like Microsoft and Amazon embraced CUDA, integrating Nvidia GPUs into their cloud platforms and AI frameworks.

This not only expanded the reach of Nvidia's technology but also created a self-reinforcing cycle of innovation within the ecosystem.

Strategic Acquisitions: Expanding the reach and expertise

While organic innovation was crucial, Nvidia also recognised the value of strategic acquisitions to bolster its capabilities and expand its reach.

In 2019, the company acquired Mellanox, a leader in data centre networking and HPC solutions.

This acquisition enhanced Nvidia's capabilities in data centre networking, a critical component for high-performance computing and AI workloads.

Additionally, it provided Nvidia with valuable expertise in HPC, further securing its position in this rapidly growing market.

Adaptability and Agility: Thriving in a dynamic landscape

The technology landscape is constantly evolving, and Nvidia has consistently demonstrated its ability to adapt and thrive in this dynamic environment.

From seizing the cryptocurrency mining boom in the early 2010s to capitalising on the rise of autonomous vehicles through its DRIVE platform, Nvidia has been able to identify and capitalise on emerging opportunities.

This agility has ensured that Nvidia remains relevant and continues to push the boundaries of what's possible with chip technology.

On Feb 14, 2024, chip making giant Nvidia made headlines as it replaced Alphabet as Wall Street’s third most valuable company, with its market value standing at $1.

On Feb 14, 2024, chip making giant Nvidia made headlines as it replaced Alphabet as Wall Street’s third most valuable company, with its market value standing at $1.825 trillion. It even surpassed other tech giants including Jeff Bezo’s Amazon. Market analysts now hold Nvidia in high regard due to increased demand for AI chips. As the company stands victorious in the chip race, we go back to Nvidia’s beginning and try to answer the question: what has made Nvidia so successful today? Early Days and Strategic Vision: From gaming to AI superpower (1993-2004) Founded by CEO Jensen Huang in Sunnyvale, California, Nvidia entered the scene in 1993 with a focus on graphics processing units (GPUs) for the burgeoning gaming market. Initially, the company's chips successfully powered iconic games like Quake and Unreal Tournament. Huang recognised that GPUs held untapped potential beyond gaming, particularly in their parallel processing capabilities ideal for complex calculations. This vision would become the cornerstone of Nvidia's future success. By the early 2000s, Nvidia began shifting its focus towards artificial intelligence (AI) and high-performance computing (HPC). This was a bold move, considering that AI was developing at its earliest stages. Fortunately Huang's foresight came true, as the demand for AI applications began to rapidly grow. This shift laid the groundwork for Nvidia's transformation from a gaming specialist to a leader in AI and HPC. Innovation: Building the foundation for success Nvidia's success story is deeply intertwined with its constant pursuit of innovation. The company has invested heavily in research and development, leading to groundbreaking advancements in chip architecture and performance. One of the well-known examples is the Tensor Core technology, a revolutionary design specifically developed for AI workloads. This innovation boosted the performance of AI algorithms, solidifying Nvidia's position as a key player in the AI revolution. But innovation was not limited to hardware. Nvidia also recognised the importance of software development. The company poured resources into creating Compute Unified Device Architecture (CUDA), a parallel programming platform that allowed developers to easily leverage the power of GPUs for AI and HPC applications. This move fuelled internal development and also fostered a diverse ecosystem of third-party developers, which made companies quickly adopt Nvidia's technology. Ecosystem Building: Power in collaboration Nvidia realised that success in the realm of AI and HPC would not be achieved alone. The company actively fostered a strong ecosystem of partners, including software developers, hardware manufacturers, and cloud service providers. This collaborative approach proved highly successful. Leading software developers like Microsoft and Amazon embraced CUDA, integrating Nvidia GPUs into their cloud platforms and AI frameworks. This not only expanded the reach of Nvidia's technology but also created a self-reinforcing cycle of innovation within the ecosystem. Strategic Acquisitions: Expanding the reach and expertise While organic innovation was crucial, Nvidia also recognised the value of strategic acquisitions to bolster its capabilities and expand its reach. In 2019, the company acquired Mellanox, a leader in data centre networking and HPC solutions. This acquisition enhanced Nvidia's capabilities in data centre networking, a critical component for high-performance computing and AI workloads. Additionally, it provided Nvidia with valuable expertise in HPC, further securing its position in this rapidly growing market. Adaptability and Agility: Thriving in a dynamic landscape The technology landscape is constantly evolving, and Nvidia has consistently demonstrated its ability to adapt and thrive in this dynamic environment. From seizing the cryptocurrency mining boom in the early 2010s to capitalising on the rise of autonomous vehicles through its DRIVE platform, Nvidia has been able to identify and capitalise on emerging opportunities. This agility has ensured that Nvidia remains relevant and continues to push the boundaries of what's possible with chip technology.

Flashback Friday: How Nvidia aced the global chip race

Nvidia has surged past Google's parent company, alphabet, and e-commerce behemoth Amazon to claim the coveted third position as the most valuable U.S. Company. Nvidia now boasts a market capitalization of $1.825 trillion, edging out Alphabet's $1.821 trillion and Amazon's $1.776 trillion.

Nvidia beats Alphabet in market cap

In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet. <o:p></o:p>

According to a Reuters report, the dominant AI chipmaker's stock witnessed a 2.46 per cent surge, securing a market value of $1.825 trillion, just ahead of Alphabet's $1.821 trillion, marking a pivotal moment in the dynamic tech industry.<o:p></o:p>

Nvidia's ascent to the third position comes on the heels of overtaking Amazon's market capitalisation, illustrating its growing dominance in the technology sector. <o:p></o:p>

The Santa Clara-based company has been a key beneficiary of the technology industry's push to integrate artificial intelligence into products and services, with its stock price rising by 47 per cent this year alone.<o:p></o:p>

The company's control over approximately 80 per cent of the high-end AI chip market has been a major factor in its stock's stellar performance. <o:p></o:p>

Investors have shown a keen interest in Nvidia's stock, especially after it concluded a session with a market capitalisation higher than Amazon's for the first time in two decades. <o:p></o:p>

However, with success comes challenges, as customers face shortages of Nvidia's top-of-the-line components, and AI developers grapple with lengthy waiting lists to access its processors through cloud-computing providers.<o:p></o:p>

Nvidia's stock surge reflects the broader trend in technology-related companies reaching record highs fuelled by optimism surrounding artificial intelligence. <o:p></o:p>

Other industry giants, such as Microsoft and Meta Platforms, have also rallied to unprecedented levels.<o:p></o:p>

Investors and analysts are now eagerly awaiting Nvidia's upcoming quarterly report, scheduled for the next Wednesday, which is poised to be one of the most closely watched of the week on Wall Street. <o:p></o:p>

Analysts anticipate another strong quarter and positive outlook, emphasising that any deviation from these expectations could potentially dampen the current AI rally on Wall Street. <o:p></o:p>

Jake Dollarhide, CEO of Longbow Asset Management, warned, "If Nvidia has one bad quarterly report, if they don’t overly-exceed investors’ expectations, this thing could sell off 20 or 30 percent in one after-hours session."<o:p></o:p>

Susquehanna analyst Christopher Rolland expressed optimism regarding Nvidia's future, increasing the price target for the company's stock to $850 from $625. <o:p></o:p>

Rolland cited expectations of robust quarterly results and guidance as the basis for the upward revision. As of now, Nvidia shares are trading at $739.<o:p></o:p>

In the broader context of the tech industry's valuation, Microsoft currently leads the pack after overtaking Apple to become the world's most valuable company with a market value exceeding $3 trillion. <o:p></o:p>

Notably, Saudi Aramco retains its position as the world's third most valuable publicly-listed company.<o:p></o:p>

Analysts predict Nvidia's January fiscal quarter revenue to more than triple to $20.37 billion, primarily driven by the soaring demand for its top-tier AI chips. <o:p></o:p>

Adjusted net profit is expected to surge over 400 per cent, reaching $11.38 billion. <o:p></o:p>

While Nvidia's current price-to-earnings ratio stands at around 34, up from 24 in early January, it reflects a significant decline from the over 50 ratio observed a year ago.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet. According to a Reuters report, the dominant AI chipmaker's stock witnessed a 2.

In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet. According to a Reuters report, the dominant AI chipmaker's stock witnessed a 2.46 per cent surge, securing a market value of $1.825 trillion, just ahead of Alphabet's $1.821 trillion, marking a pivotal moment in the dynamic tech industry. Nvidia's ascent to the third position comes on the heels of overtaking Amazon's market capitalisation, illustrating its growing dominance in the technology sector. The Santa Clara-based company has been a key beneficiary of the technology industry's push to integrate artificial intelligence into products and services, with its stock price rising by 47 per cent this year alone. The company's control over approximately 80 per cent of the high-end AI chip market has been a major factor in its stock's stellar performance. Investors have shown a keen interest in Nvidia's stock, especially after it concluded a session with a market capitalisation higher than Amazon's for the first time in two decades. However, with success comes challenges, as customers face shortages of Nvidia's top-of-the-line components, and AI developers grapple with lengthy waiting lists to access its processors through cloud-computing providers. Nvidia's stock surge reflects the broader trend in technology-related companies reaching record highs fuelled by optimism surrounding artificial intelligence. Other industry giants, such as Microsoft and Meta Platforms, have also rallied to unprecedented levels. Investors and analysts are now eagerly awaiting Nvidia's upcoming quarterly report, scheduled for the next Wednesday, which is poised to be one of the most closely watched of the week on Wall Street. Analysts anticipate another strong quarter and positive outlook, emphasising that any deviation from these expectations could potentially dampen the current AI rally on Wall Street. Jake Dollarhide, CEO of Longbow Asset Management, warned, "If Nvidia has one bad quarterly report, if they don’t overly-exceed investors’ expectations, this thing could sell off 20 or 30 percent in one after-hours session." Susquehanna analyst Christopher Rolland expressed optimism regarding Nvidia's future, increasing the price target for the company's stock to $850 from $625. Rolland cited expectations of robust quarterly results and guidance as the basis for the upward revision. As of now, Nvidia shares are trading at $739. In the broader context of the tech industry's valuation, Microsoft currently leads the pack after overtaking Apple to become the world's most valuable company with a market value exceeding $3 trillion. Notably, Saudi Aramco retains its position as the world's third most valuable publicly-listed company. Analysts predict Nvidia's January fiscal quarter revenue to more than triple to $20.37 billion, primarily driven by the soaring demand for its top-tier AI chips. Adjusted net profit is expected to surge over 400 per cent, reaching $11.38 billion. While Nvidia's current price-to-earnings ratio stands at around 34, up from 24 in early January, it reflects a significant decline from the over 50 ratio observed a year ago. (With inputs from Reuters)

Nvidia surpasses Alphabet to claim third spot in Wall Street's valuation race

Nvidia, the leading AI chipmaker, is on the brink of surpassing Alphabet as the third most valuable company on Wall Street, after overtaking Amazon's market capitalisation for the first time in two decades, according to Reuters. <o:p></o:p>

Nvidia's market cap reached $1.78 trillion, exceeding Amazon's $1.75 trillion, as the latter's shares declined by 2.15 per cent. <o:p></o:p>

Alphabet, Google's parent company, saw a 1.62 per cent dip in its stock, leaving its market value at $1.81 trillion.<o:p></o:p>

The surge in Nvidia's market value comes as the company benefits from the tech industry's push to integrate AI into various products and services. <o:p></o:p>

Major tech firms like Meta Platforms are heavily investing in Nvidia's graphics processors, leading to a significant increase in demand for its components. <o:p></o:p>

Analysts foresee substantial potential for Nvidia in the AI sector, with Mizuho raising its price target for Nvidia's stock ahead of its quarterly results.<o:p></o:p>

Nvidia's dominance in the high-end AI chip market, controlling about 80 per cent of it, has propelled its stock to new heights. <o:p></o:p>

Mizuho analyst Vijay Rakesh highlighted the persistent high demand for Nvidia's processors, indicating significant AI upside for the company.<o:p></o:p>

&nbsp;This optimism extends to other tech giants like Microsoft and Meta, whose stocks have rallied due to AI-related optimism.<o:p></o:p>

Alphabet, while facing competition from Nvidia, has been actively incorporating AI technologies into its products and services. <o:p></o:p>

Despite this, the company's recent quarterly report failed to meet investors' expectations, leading to a drop in its stock price. <o:p></o:p>

Nevertheless, Alphabet's stock remains up by 4 per cent in 2024, showcasing a resilient performance amidst the competitive tech landscape.<o:p></o:p>

Nvidia briefly surpassed Amazon's market capitalisation on Monday, marking a significant milestone for the company. <o:p></o:p>

This achievement reflects Nvidia's remarkable growth trajectory since its early days when its market value was under $6 billion. <o:p></o:p>

The current surge in Nvidia's market cap echoes its strong positioning in the AI market and underscores its potential for further expansion.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Nvidia, the leading AI chipmaker, is on the brink of surpassing Alphabet as the third most valuable company on Wall Street, after overtaking Amazon's market capitalisation for the first time in two decades, according to Reuters.

Nvidia, the leading AI chipmaker, is on the brink of surpassing Alphabet as the third most valuable company on Wall Street, after overtaking Amazon's market capitalisation for the first time in two decades, according to Reuters. Nvidia's market cap reached $1.78 trillion, exceeding Amazon's $1.75 trillion, as the latter's shares declined by 2.15 per cent. Alphabet, Google's parent company, saw a 1.62 per cent dip in its stock, leaving its market value at $1.81 trillion. The surge in Nvidia's market value comes as the company benefits from the tech industry's push to integrate AI into various products and services. Major tech firms like Meta Platforms are heavily investing in Nvidia's graphics processors, leading to a significant increase in demand for its components. Analysts foresee substantial potential for Nvidia in the AI sector, with Mizuho raising its price target for Nvidia's stock ahead of its quarterly results. Nvidia's dominance in the high-end AI chip market, controlling about 80 per cent of it, has propelled its stock to new heights. Mizuho analyst Vijay Rakesh highlighted the persistent high demand for Nvidia's processors, indicating significant AI upside for the company. This optimism extends to other tech giants like Microsoft and Meta, whose stocks have rallied due to AI-related optimism. Alphabet, while facing competition from Nvidia, has been actively incorporating AI technologies into its products and services. Despite this, the company's recent quarterly report failed to meet investors' expectations, leading to a drop in its stock price. Nevertheless, Alphabet's stock remains up by 4 per cent in 2024, showcasing a resilient performance amidst the competitive tech landscape. Nvidia briefly surpassed Amazon's market capitalisation on Monday, marking a significant milestone for the company. This achievement reflects Nvidia's remarkable growth trajectory since its early days when its market value was under $6 billion. The current surge in Nvidia's market cap echoes its strong positioning in the AI market and underscores its potential for further expansion. (With inputs from Reuters)

Nvidia on the brink of overtaking Alphabet in market cap after Amazon

<o:p></o:p>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.<o:p></o:p>

US dollar hits 3-month high on strong inflation data, surpasses 150 yen mark<o:p></o:p>

The US dollar surged to three-month highs on Tuesday, propelled by robust inflation data that exceeded economists' expectations for January.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/us-dollar-hits-3-month-high-on-strong-inflation-data-surpasses-150-yen-mark-690078">Read more here</a> <o:p></o:p>

SpaceX fined after worker injury, records reveal history of safety concerns<o:p></o:p>

Elon Musk's SpaceX was fined $3,600 this month following an incident at its Washington state site that nearly resulted in an amputation, as per inspection records reviewed by Reuters.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/spacex-fined-after-worker-injury-records-reveal-history-of-safety-concerns-690084">Read more here</a><o:p></o:p>

Nvidia on the brink of overtaking Alphabet in market after Amazon<o:p></o:p>

Nvidia, the leading AI chipmaker, is on the brink of surpassing Alphabet as the third most valuable company on Wall Street, after overtaking Amazon's market capitalisation for the first time in two decades, according to Reuters.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/nvidia-on-the-brink-of-overtaking-alphabet-in-market-after-amazon-690089">Read more here </a><o:p></o:p>

Barclays faces lawsuit over discrimination allegations from vice president<o:p></o:p>

A vice president at Barclays has filed a lawsuit against the British bank, seeking approximately $290,000, alleging racial, religious, and gender discrimination.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/barclays-faces-lawsuit-over-discrimination-allegations-from-vice-president-690094">Read more here </a><o:p></o:p>

Walmart in advanced talks to acquire Vizio for over $2 bn, boosting TV market control<o:p></o:p>

Retail giant Walmart is reportedly in advanced discussions to acquire smart-television manufacturer Vizio for a sum exceeding $2 billion, as reported by the Wall Street Journal on Tuesday.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/walmart-in-advanced-talks-to-acquire-vizio-for-over-2-bn-boosting-tv-market-control-690100">Read more here </a><o:p></o:p>

Rising rents propel US inflation; rate cuts still anticipated in 2024<o:p></o:p>

The latest data from the Labour Department revealed a higher-than-anticipated increase in US consumer prices in January, driven primarily by a surge in the cost of rental housing.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/rising-rents-propel-us-inflation-rate-cuts-still-anticipated-in-2024-690133">Read more here </a><o:p></o:p>

Disneyland character performers announce plans to unionise, seeking better benefits<o:p></o:p>

Character performers at Disneyland, embodying beloved figures like Mickey Mouse, Donald Duck, and Goofy, have disclosed intentions to join the Actors' Equity Association, a union representing professionals in live theatrical performance.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/disneyland-character-performers-announce-plans-to-unionise-seeking-better-benefits-690139">Read more here </a><o:p></o:p>

China's declining birth rate puts teachers' jobs at risk: Millions face uncertain future by 2035<o:p></o:p>

In the wake of China's plummeting birth rate, the future of teaching, once considered a steadfast career choice in the nation, is now cast in uncertainty, the South China Morning Post (SCMP) reported.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/chinas-declining-birth-rate-puts-teachers-jobs-at-risk-millions-face-uncertain-future-by-2035-690148">Read more here </a><o:p></o:p>

Love is in the air, but is it in your budget? Exploring the economic impact of Valentine's Day<o:p></o:p>

While millions prepare to celebrate love with chocolates, cards, and cosy dinners, the question arises: how much does this day of affection truly cost the economy, and is the pressure to spend worth it?

<a href="https://www.wionews.com/business-economy/love-is-in-the-air-but-is-it-in-your-budget-exploring-the-economic-impact-of-valentines-day-690154">Read more here </a><o:p></o:p>

Toyota announces leadership changes at Daihatsu following safety test scandal

In response to the revelation of rigged collision safety-tests, Toyota Motor Corp announced significant leadership changes within Daihatsu Motor, with both the president and chairman set to step down.

<a href="https://www.wionews.com/business-economy/toyota-announces-leadership-changes-at-daihatsu-following-safety-test-scandal-690175">Read more here</a>

FTC's antitrust lawsuit against Amazon scheduled for October 2026 trial

A US federal judge has set an October 2026 trial date for the Federal Trade Commission's (FTC) antitrust lawsuit against Amazon.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/ftcs-antitrust-lawsuit-against-amazon-scheduled-for-october-2026-trial-690168">Read more here</a><o:p></o:p>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US dollar hits 3-month high on strong inflation data, surpasses 150 yen mark The US dollar surged to three-month highs on Tuesday, propelled by robust inflation data that exceeded economists' expectations for January.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US dollar hits 3-month high on strong inflation data, surpasses 150 yen mark The US dollar surged to three-month highs on Tuesday, propelled by robust inflation data that exceeded economists' expectations for January. Read more here SpaceX fined after worker injury, records reveal history of safety concerns Elon Musk's SpaceX was fined $3,600 this month following an incident at its Washington state site that nearly resulted in an amputation, as per inspection records reviewed by Reuters. Read more here Nvidia on the brink of overtaking Alphabet in market after Amazon Nvidia, the leading AI chipmaker, is on the brink of surpassing Alphabet as the third most valuable company on Wall Street, after overtaking Amazon's market capitalisation for the first time in two decades, according to Reuters. Read more here Barclays faces lawsuit over discrimination allegations from vice president A vice president at Barclays has filed a lawsuit against the British bank, seeking approximately $290,000, alleging racial, religious, and gender discrimination. Read more here Walmart in advanced talks to acquire Vizio for over $2 bn, boosting TV market control Retail giant Walmart is reportedly in advanced discussions to acquire smart-television manufacturer Vizio for a sum exceeding $2 billion, as reported by the Wall Street Journal on Tuesday. Read more here Rising rents propel US inflation; rate cuts still anticipated in 2024 The latest data from the Labour Department revealed a higher-than-anticipated increase in US consumer prices in January, driven primarily by a surge in the cost of rental housing. Read more here Disneyland character performers announce plans to unionise, seeking better benefits Character performers at Disneyland, embodying beloved figures like Mickey Mouse, Donald Duck, and Goofy, have disclosed intentions to join the Actors' Equity Association, a union representing professionals in live theatrical performance. Read more here China's declining birth rate puts teachers' jobs at risk: Millions face uncertain future by 2035 In the wake of China's plummeting birth rate, the future of teaching, once considered a steadfast career choice in the nation, is now cast in uncertainty, the South China Morning Post (SCMP) reported. Read more here Love is in the air, but is it in your budget? Exploring the economic impact of Valentine's Day While millions prepare to celebrate love with chocolates, cards, and cosy dinners, the question arises: how much does this day of affection truly cost the economy, and is the pressure to spend worth it? Read more here Toyota announces leadership changes at Daihatsu following safety test scandal In response to the revelation of rigged collision safety-tests, Toyota Motor Corp announced significant leadership changes within Daihatsu Motor, with both the president and chairman set to step down. Read more here FTC's antitrust lawsuit against Amazon scheduled for October 2026 trial A US federal judge has set an October 2026 trial date for the Federal Trade Commission's (FTC) antitrust lawsuit against Amazon. Read more here

WION Business Wrap | US dollar’s 3-month high, Nvidia’s rising market value and more

The tech landscape is witnessing multiple shifts in 2024. January saw Microsoft overtaking Apple to become world’s most valuable company. Now chipmaker Nvidia briefly outpaced e-commerce giant Amazon in market capitalisation.

Nvidia briefly surpasses Amazon in market capitalisation

Leading chip maker Nvidia is now aiming to capture a growing segment. We are talking about custom AI chips, where rivals Broadcom & Marvell dominate. The report takes a deep dive into nvidia's plans for the 30 billion dollar segment.

Report: Nvidia building new business catering to cloud computing

The company is on the verge of becoming more valuable than amazon for the first time since 2002. A 40% surge in 2024 has elevated Nvidia's market cap to 1.715 trillion dollars. That's only about 3% below amazon's 1.767 trillion dollar value.

Nvidia on the verge of becoming more valuable than amazon

<o:p></o:p>Nvidia, the AI chipmaker, is on the verge of surpassing Amazon in market value, fuelled by Wall Street's fervour for artificial intelligence, as reported by Reuters.<o:p></o:p>

With a 40 per cent surge in 2024, Nvidia's market capitalisation stands at $1.715 trillion, just 3 per cent short of Amazon's $1.767 trillion. <o:p></o:p>

Additionally, it is trailing closely behind Alphabet, Google's parent company, which boasts a $1.812 trillion valuation. <o:p></o:p>

The soaring trajectory of Nvidia's shares, rising 1.8 per cent to $694.48 after an optimistic report from Morgan Stanley, positions the AI giant as a formidable player in the market.<o:p></o:p>

Morgan Stanley's recent report has contributed to the positive sentiment surrounding Nvidia. <o:p></o:p>

Analyst Joseph Moore, in a client note, emphasised the surging demand for AI, prompting the firm to raise Nvidia's price target from $603 to $750. <o:p></o:p>

Nvidia, having tripled its stock value in 2023, now holds the fifth position among the most valuable companies in the US stock market. <o:p></o:p>

The company is gearing up to report its quarterly results on February 21, maintaining the spotlight on its robust performance.<o:p></o:p>

Nvidia's prominence in the AI landscape has been propelled by tech giants like Meta Platforms and others integrating its graphics processors into their products and services. <o:p></o:p>

The company has emerged as a top beneficiary in the race to infuse AI capabilities across various industries. <o:p></o:p>

Cloud-computing providers offering Nvidia's processors are witnessing high demand, leading to months-long waiting lists for AI developers. <o:p></o:p>

Morgan Stanley's Moore pointed out that while these wait times are gradually decreasing, the sustained demand underscores Nvidia's pivotal role in the AI ecosystem.<o:p></o:p>

This impending milestone for Nvidia marks the first time in two decades that it is on the verge of surpassing Amazon in market value. <o:p></o:p>

The last instance was in 2002 when both companies were valued under $6 billion. <o:p></o:p>

Microsoft's recent achievement in becoming the world's most valuable company, surpassing Apple, adds to the dynamic landscape of tech leaders vying for the top spots. <o:p></o:p>

While Nvidia's surge in market value is noteworthy, Saudi Aramco remains the world's third most valuable publicly listed company, with a market capitalisation of $2 trillion. <o:p></o:p>

However, it's essential to note that over 90 per cent of Saudi Aramco is closely held by the Saudi Arabian government, and less than 2 per cent of its shares are available for trading by investors. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Nvidia, the AI chipmaker, is on the verge of surpassing Amazon in market value, fuelled by Wall Street's fervour for artificial intelligence, as reported by Reuters.

Nvidia, the AI chipmaker, is on the verge of surpassing Amazon in market value, fuelled by Wall Street's fervour for artificial intelligence, as reported by Reuters. With a 40 per cent surge in 2024, Nvidia's market capitalisation stands at $1.715 trillion, just 3 per cent short of Amazon's $1.767 trillion. Additionally, it is trailing closely behind Alphabet, Google's parent company, which boasts a $1.812 trillion valuation. The soaring trajectory of Nvidia's shares, rising 1.8 per cent to $694.48 after an optimistic report from Morgan Stanley, positions the AI giant as a formidable player in the market. Morgan Stanley's recent report has contributed to the positive sentiment surrounding Nvidia. Analyst Joseph Moore, in a client note, emphasised the surging demand for AI, prompting the firm to raise Nvidia's price target from $603 to $750. Nvidia, having tripled its stock value in 2023, now holds the fifth position among the most valuable companies in the US stock market. The company is gearing up to report its quarterly results on February 21, maintaining the spotlight on its robust performance. Nvidia's prominence in the AI landscape has been propelled by tech giants like Meta Platforms and others integrating its graphics processors into their products and services. The company has emerged as a top beneficiary in the race to infuse AI capabilities across various industries. Cloud-computing providers offering Nvidia's processors are witnessing high demand, leading to months-long waiting lists for AI developers. Morgan Stanley's Moore pointed out that while these wait times are gradually decreasing, the sustained demand underscores Nvidia's pivotal role in the AI ecosystem. This impending milestone for Nvidia marks the first time in two decades that it is on the verge of surpassing Amazon in market value. The last instance was in 2002 when both companies were valued under $6 billion. Microsoft's recent achievement in becoming the world's most valuable company, surpassing Apple, adds to the dynamic landscape of tech leaders vying for the top spots. While Nvidia's surge in market value is noteworthy, Saudi Aramco remains the world's third most valuable publicly listed company, with a market capitalisation of $2 trillion. However, it's essential to note that over 90 per cent of Saudi Aramco is closely held by the Saudi Arabian government, and less than 2 per cent of its shares are available for trading by investors. (With inputs from Reuters)

Nvidia's soaring value nears Amazon amid AI frenzy: Report

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

RBI keeps interest rates steady at 6.5pc, revises GDP growth outlook for 2023-24

The Reserve Bank of India (RBI) has opted to maintain the status quo on interest rates, keeping the repo rates unchanged at 6.5 per cent. This decision marks a continuation of the RBI's approach over the past year, where the repo rate has remained at 6.5 per cent since the last increase in February 2023.&nbsp;

<a href="https://www.wionews.com/business-economy/rbi-keeps-interest-rates-steady-at-65pc-revises-gdp-growth-outlook-for-2023-24-688105">Read more&nbsp;</a>

Nvidia's soaring value nears Amazon amid AI frenzy: Report

Nvidia, the AI chipmaker, is on the verge of surpassing Amazon in market value, fuelled by Wall Street's fervour for artificial intelligence.&nbsp;

<a href="https://www.wionews.com/business-economy/nvidias-soaring-value-nears-amazon-in-ai-frenzy-report-688103">Read more&nbsp;</a>

China faces its biggest deflation threat since 2009 as consumer prices plummet

China encountered its deepest deflationary threat since 2009 as consumer prices witnessed a severe decline in January, highlighting the persistent challenges for the world's second-largest economy in its struggle for recovery.

<a href="https://www.wionews.com/business-economy/china-faces-deepest-deflation-risks-since-2009-as-consumer-prices-plummet-688110">Read more&nbsp;</a>

Mexico surpasses China as top source of US imports amid global economic shifts

In a significant economic shift, Mexico has emerged as the leading source of goods imported to the United States, overtaking China for the first time in more than two decades.

<a href="here https://www.wionews.com/business-economy/mexico-surpasses-china-as-top-source-of-us-imports-amid-global-economic-shifts-688161">Read more</a>

Uncertainty looms over US treasury market as Fed signals caution

In a twist for the fixed-income market, uncertainty is making a comeback after the Federal Reserve's recent statements and robust economic data threw a curveball into expectations.

<a href="here https://www.wionews.com/business-economy/uncertainty-looms-over-us-treasury-market-as-fed-signals-caution-688134">Read more</a>

UAE's ADIA unveils ambitious $4-5bn investment plan in India via Gujarat's finance hub

The Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is preparing to launch a substantial $4-5 billion fund aimed at investing in India through the tax-neutral finance hub in Gujarat, known as Gujarat International Finance Tec-City (GIFT City).

<a href="here https://www.wionews.com/business-economy/uaes-adia-unveils-ambitious-4-5bn-investment-plan-in-india-via-gujarats-finance-hub-688141">Read more</a>

Snap faces investor backlash as ad revenue stumbles against tech giants Meta, Alphabet

In a staggering downturn, Snap, the parent company of Snapchat, witnessed a sharp decline of over 32 per cent in its shares on Wednesday, following disappointing fourth-quarter revenue results that fell short of Wall Street expectations.

<a href="https://www.wionews.com/business-economy/snap-faces-investor-backlash-as-ad-revenue-stumbles-against-tech-giants-meta-alphabet-688153">Read more</a>

German property market faces bleak outlook as TAG Immobilen warns of 30pc price decline

In a stark warning, TAG Immobilen, one of Germany's largest landlords, has forecasted that home prices in the country could plunge as much as 30 per cent below their 2022 peak, portraying a more pessimistic outlook than its counterparts.

<a href="here https://www.wionews.com/business-economy/german-property-market-faces-bleak-outlook-as-tag-immobilen-warns-of-30pc-price-decline-688156">Read more</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. RBI keeps interest rates steady at 6.5pc, revises GDP growth outlook for 2023-24 The Reserve Bank of India (RBI) has opted to maintain the status quo on interest rates, keeping the repo rates unchanged at 6.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. RBI keeps interest rates steady at 6.5pc, revises GDP growth outlook for 2023-24 The Reserve Bank of India (RBI) has opted to maintain the status quo on interest rates, keeping the repo rates unchanged at 6.5 per cent. This decision marks a continuation of the RBI's approach over the past year, where the repo rate has remained at 6.5 per cent since the last increase in February 2023. Read more Nvidia's soaring value nears Amazon amid AI frenzy: Report Nvidia, the AI chipmaker, is on the verge of surpassing Amazon in market value, fuelled by Wall Street's fervour for artificial intelligence. Read more China faces its biggest deflation threat since 2009 as consumer prices plummet China encountered its deepest deflationary threat since 2009 as consumer prices witnessed a severe decline in January, highlighting the persistent challenges for the world's second-largest economy in its struggle for recovery. Read more Mexico surpasses China as top source of US imports amid global economic shifts In a significant economic shift, Mexico has emerged as the leading source of goods imported to the United States, overtaking China for the first time in more than two decades. Read more Uncertainty looms over US treasury market as Fed signals caution In a twist for the fixed-income market, uncertainty is making a comeback after the Federal Reserve's recent statements and robust economic data threw a curveball into expectations. Read more UAE's ADIA unveils ambitious $4-5bn investment plan in India via Gujarat's finance hub The Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is preparing to launch a substantial $4-5 billion fund aimed at investing in India through the tax-neutral finance hub in Gujarat, known as Gujarat International Finance Tec-City (GIFT City). Read more Snap faces investor backlash as ad revenue stumbles against tech giants Meta, Alphabet In a staggering downturn, Snap, the parent company of Snapchat, witnessed a sharp decline of over 32 per cent in its shares on Wednesday, following disappointing fourth-quarter revenue results that fell short of Wall Street expectations. Read more German property market faces bleak outlook as TAG Immobilen warns of 30pc price decline In a stark warning, TAG Immobilen, one of Germany's largest landlords, has forecasted that home prices in the country could plunge as much as 30 per cent below their 2022 peak, portraying a more pessimistic outlook than its counterparts. Read more

WION Business Wrap | UAE's investment in India, Nvidia's valuation surge and more

Nvidia reached a new pinnacle on Monday as Goldman Sachs increased its price target for the company's shares, anticipating earnings growth driven by the ongoing artificial intelligence (AI) boom. <o:p></o:p>

According to a Reuters report, the stock experienced a 4 per cent surge, reaching $689.21, poised to contribute approximately $70 billion to Nvidia's market capitalisation, which stood at $1.63 trillion at Friday's close.<o:p></o:p>

Recognised as a symbol of the AI frenzy, Nvidia witnessed a historic monthly increase in market value in January, reflecting its prominent position in the rapidly evolving tech landscape.<o:p></o:p>

Goldman Sachs analyst Toshiya Hari expressed confidence in Nvidia's continued success.<o:p></o:p>

"We believe Nvidia will remain as the industry gold standard for the foreseeable future, given its robust hardware and software offerings and, importantly, the pace at which it continues to innovate," Reuters quoted him as saying.<o:p></o:p>

Despite the significant growth in Nvidia's stock price, up 39 per cent this year, Hari sees further potential for expansion. <o:p></o:p>

The analyst raised the price target to $800, marking a 21 per cent upside from current levels and reflecting the continued optimism surrounding Nvidia's future performance.<o:p></o:p>

The AI-focused growth strategy extends beyond Nvidia, with signs of AI monetisation evident in various companies. <o:p></o:p>

Hari pointed to positive developments from tech giants such as Microsoft and Meta Platforms, as well as encouraging earnings outlooks from AI server maker Super Micro Computer. <o:p></o:p>

These indicators contribute to Goldman Sachs' decision to raise full-year 2025-2026 earnings estimates for Nvidia by an average of 22 per cent. <o:p></o:p>

The anticipated robust demand for AI servers and improving graphics processing unit (GPU) supply further underlines the positive trajectory projected for Nvidia in the coming years.<o:p></o:p>

While Nvidia thrives on the AI wave, other chipmakers not deeply involved in AI, like Intel, have experienced a relative lag in their stock performance. <o:p></o:p>

Nvidia's dominance in the AI market has unlocked substantial revenue, setting it apart in an industry where AI capabilities are becoming increasingly integral. <o:p></o:p>

The company is poised to report its results on February 21, with analysts forecasting fourth-quarter earnings per share of $4.51 and revenue of $20.19 billion, based on LSEG data.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Nvidia reached a new pinnacle on Monday as Goldman Sachs increased its price target for the company's shares, anticipating earnings growth driven by the ongoing artificial intelligence (AI) boom.

Nvidia reached a new pinnacle on Monday as Goldman Sachs increased its price target for the company's shares, anticipating earnings growth driven by the ongoing artificial intelligence (AI) boom. According to a Reuters report, the stock experienced a 4 per cent surge, reaching $689.21, poised to contribute approximately $70 billion to Nvidia's market capitalisation, which stood at $1.63 trillion at Friday's close. Recognised as a symbol of the AI frenzy, Nvidia witnessed a historic monthly increase in market value in January, reflecting its prominent position in the rapidly evolving tech landscape. Goldman Sachs analyst Toshiya Hari expressed confidence in Nvidia's continued success. "We believe Nvidia will remain as the industry gold standard for the foreseeable future, given its robust hardware and software offerings and, importantly, the pace at which it continues to innovate," Reuters quoted him as saying. Despite the significant growth in Nvidia's stock price, up 39 per cent this year, Hari sees further potential for expansion. The analyst raised the price target to $800, marking a 21 per cent upside from current levels and reflecting the continued optimism surrounding Nvidia's future performance. The AI-focused growth strategy extends beyond Nvidia, with signs of AI monetisation evident in various companies. Hari pointed to positive developments from tech giants such as Microsoft and Meta Platforms, as well as encouraging earnings outlooks from AI server maker Super Micro Computer. These indicators contribute to Goldman Sachs' decision to raise full-year 2025-2026 earnings estimates for Nvidia by an average of 22 per cent. The anticipated robust demand for AI servers and improving graphics processing unit (GPU) supply further underlines the positive trajectory projected for Nvidia in the coming years. While Nvidia thrives on the AI wave, other chipmakers not deeply involved in AI, like Intel, have experienced a relative lag in their stock performance. Nvidia's dominance in the AI market has unlocked substantial revenue, setting it apart in an industry where AI capabilities are becoming increasingly integral. The company is poised to report its results on February 21, with analysts forecasting fourth-quarter earnings per share of $4.51 and revenue of $20.19 billion, based on LSEG data. (With inputs from Reuters)

Nvidia surges to record high as Goldman Sachs boosts price target on AI growth

Shares of Nvidia and Advanced Micro Devices (AMD) experienced a significant surge on Tuesday as investor confidence in the growing demand for artificial intelligence (AI)-powered chips prompted Wall Street analysts to raise their price targets for these semiconductor giants. <o:p></o:p>

This is based on a Reuters report.<o:p></o:p>

Nvidia, currently holding a dominant position in the advanced AI chip market, faces competition from AMD, which is anticipated to make strides this year, increasing deliveries of its own chips to enterprise clients, according to Barclays analysts led by Tom O'Malley.<o:p></o:p>

Barclays analysts noted in an investor note that with supply constraints, customers often resort to using the entire Nvidia platform to secure priority shipments of accelerators.<o:p></o:p>

They anticipate that 2024 will be the year when AI opens up further, with other chipmakers like AMD gaining market share.<o:p></o:p>

Nvidia's stock witnessed a 3 per cent increase, reaching $563.65 and setting a new record high. <o:p></o:p>

Simultaneously, AMD shares surged by 7.5 per cent to $157.57, reaching their highest level in over two years. <o:p></o:p>

Nvidia's shares more than tripled in value in the past year, making it the world's most valuable chipmaker, while AMD's shares more than doubled.<o:p></o:p>

Barclays raised its price target for AMD shares to $200 from $120, reflecting the positive outlook for the company. <o:p></o:p>

KeyBanc analysts also increased their price target for AMD to $195 from $170. <o:p></o:p>

Nvidia, too, received a price target hike to $740 from $650 from KeyBanc. <o:p></o:p>

Both Nvidia and AMD are currently among the top gainers in the PHLX semiconductor index, which showed a 1.15 per cent increase during the session.<o:p></o:p>

Analysts covering Nvidia's stock maintain a median price target of $625, slightly down from $627.50 a month ago. The collective recommendation for the stock is "buy." Conversely, analysts covering AMD's shares have a median price target of $145, up from $130 a month ago, with a collective recommendation to buy the stock [Reuters].<o:p></o:p>

In a strategic move, Nvidia plans to commence mass production later this year of an AI chip tailored for its Chinese customers, aligning with tightened US export rules. <o:p></o:p>

On the other hand, AMD, aiming to challenge Nvidia's flagship microprocessors, announced two new AI data centre chips in December.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Shares of Nvidia and Advanced Micro Devices (AMD) experienced a significant surge on Tuesday as investor confidence in the growing demand for artificial intelligence (AI)-powered chips prompted Wall Street analysts to raise their price targets for these semiconductor giants.

Shares of Nvidia and Advanced Micro Devices (AMD) experienced a significant surge on Tuesday as investor confidence in the growing demand for artificial intelligence (AI)-powered chips prompted Wall Street analysts to raise their price targets for these semiconductor giants. This is based on a Reuters report. Nvidia, currently holding a dominant position in the advanced AI chip market, faces competition from AMD, which is anticipated to make strides this year, increasing deliveries of its own chips to enterprise clients, according to Barclays analysts led by Tom O'Malley. Barclays analysts noted in an investor note that with supply constraints, customers often resort to using the entire Nvidia platform to secure priority shipments of accelerators. They anticipate that 2024 will be the year when AI opens up further, with other chipmakers like AMD gaining market share. Nvidia's stock witnessed a 3 per cent increase, reaching $563.65 and setting a new record high. Simultaneously, AMD shares surged by 7.5 per cent to $157.57, reaching their highest level in over two years. Nvidia's shares more than tripled in value in the past year, making it the world's most valuable chipmaker, while AMD's shares more than doubled. Barclays raised its price target for AMD shares to $200 from $120, reflecting the positive outlook for the company. KeyBanc analysts also increased their price target for AMD to $195 from $170. Nvidia, too, received a price target hike to $740 from $650 from KeyBanc. Both Nvidia and AMD are currently among the top gainers in the PHLX semiconductor index, which showed a 1.15 per cent increase during the session. Analysts covering Nvidia's stock maintain a median price target of $625, slightly down from $627.50 a month ago. The collective recommendation for the stock is "buy." Conversely, analysts covering AMD's shares have a median price target of $145, up from $130 a month ago, with a collective recommendation to buy the stock [Reuters]. In a strategic move, Nvidia plans to commence mass production later this year of an AI chip tailored for its Chinese customers, aligning with tightened US export rules. On the other hand, AMD, aiming to challenge Nvidia's flagship microprocessors, announced two new AI data centre chips in December. (With inputs from Reuters)

Nvidia and AMD shares soar as analysts boost price targets amid AI optimism

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