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Nvidia set to become the world's most valuable company in history
Shares of the leading designer of high-end AI chips were up 2.2 per cent at $160.6 in morning trading, giving the company a higher market capitalization than Apple's record closing value of $3.915 trillion on December 26, 2024.
Nvidia's newest chips have made gains in training the largest artificial-intelligence models, fueling demand for products by the Santa Clara, California, tech company.
Microsoft is currently the second-most valuable company on Wall Street, with a market capitalization of $3.7 trillion as its shares rose 1.4 per cent on $498.
Apple rose 0.5 per cent, giving it a stock market value of $3.19 trillion, in third place.
A race among Microsoft, Amazon.com, Meta Platforms , Alphabet and Tesla to build AI datacenters and dominate the emerging technology has fueled insatiable demand for Nvidia's high-end processors.
The stock market value of Nvidia, whose core technology was developed to power video games, has nearly octupled over the past four years from $500 billion in 2021.
Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets, according to LSEG data. The tech company also exceeds the total value of all publicly listed companies in the United Kingdom.
Nvidia recently traded at about 32 times analysts' expected earnings for the next 12 months, below its average of about 41 over the past five years, according to LSEG data. That relatively modest price-to-earnings valuation reflects steadily increasing earnings estimates that have outpaced Nvidia's sizable stock gains.
The company's stock has now rebounded more than 68 per cent from its recent closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. U.S.
stocks, including Nvidia, have recovered on expectations that the White House will cement trade deals to soften Trump's tariffs.
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United News of India
an hour ago
- United News of India
Trump boasts effectiveness of airstrikes on Iranian sites, says they pushed Tehran to talks
Washington, July 4 (UNI) US President Donald Trump, boasting the effectiveness of the US military's airstrikes on June 22 on Iranian nuclear sites said today that Washington's attacks on Iran had effectively ended the hostile rhetoric being peddled from Tehran, pushing the country towards talks. "We just did a really great job. And then, of course, you cap it off with the hit, the perfect hit in Iran, where they were talking awfully badly, you know, death to America, death to Israel. They were talking awfully badly," Trump said at a rally in Des Moines, Iowa, reports Iran International. "They're not talking badly anymore, to be honest with you. And we might even meet with them and see," he added. "They want to meet, they want to meet, and we'll see if we can do something. But they want to meet. I think they want to meet very badly." Earlier in the day, Trump told reporters at Joint Base Andrews that "Iran does want to speak. And I think they'd like to speak to me. And it's time that they do. "We're not looking to hurt them. We're looking to let them be a country again. They got beat up and, you know, they were they were both exhausted, frankly. But Iran really got beat up. And I think they want to meet. I mean, I know they want to meet. And if it's necessary, I'll do it." Trump made the remarks after his phone conversation with Russian President Vladimir Putin, where the two sides discussed Iran and Ukraine, though not much settlement has been made on that issue, Trump said later. Washington also intensified its economic attack on Iran, with the US Treasury imposing strong sanctions on Thursday against a network that it claimed smuggles Iranian oil disguised as Iraqi oil and, on a Hezbollah -controlled financial institution. The Treasury Department alleged that a network of companies run by Iraqi-British national Salim Ahmed Said, had been buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil since at least 2020, the department said. They were the first round of sanctions imposed against Iran following the US and Israeli strikes against Iranian military and nuclear facilities, post the ongoing ceasefire. UNI ANV PRS
Scroll.in
an hour ago
- Scroll.in
A new book suggests ways for professionals to develop AI literacy to thrive in an AI-first world
Some of you would know what BYOD means. Bring Your Own Device refers to a policy that allows employees to bring their own laptops and phones to work, a trend that is a delight to employees, but rankles IT and Security managers who have no choice but to work with disparate operating systems and brands while having to ensure they are safe and secure. It was primarily Apple which ignited this phenomenon as knowledge workers rebelled against the dull uniformity of Windows devices and wanted to bring their cool Apple MacBooks to work. This culture became more widespread in the iPhone and smartphone era, as a proliferation of various models led to fast adoption, the phones' personal nature compelling workers to bring their own phones to work, rather than use the ones issued by corporate IT departments. BYOD was an obvious take on BYOB – where the last 'B' stands for booze – which restaurants and events used to encourage people to bring their own favourites. The 2024 Microsoft and LinkedIn Work Trend Index Report coined the latest acronym in this lexicon – BYOAI, or Bring Your Own AI. The report which polled 31,000 workers worldwide, had a startling revelation: 78 per cent, or almost four out of five, employees were bringing in their own AI tools to work, many times sneaking them in as apps on their smartphones or laptops, even when corporate policy did not allow them to! 46 per cent of employees had started using them six months back, and more than half were reluctant to admit to using AI tools because 'AI makes them look replaceable.' That's not all; the same report stated that two out of three leaders would not hire someone without 'AI skills' and 77 per cent of hiring managers prefer a less experienced candidate with AI skills over a more experienced candidate without them! Correspondingly, 71 per cent of professionals believe AI will lead to early-career talents taking on greater responsibilities. Note that this report is a year old at the time of writing, a lifetime in this age of AI. The numbers would be even greater and more startling now. Regardless, it is clear that AI aptitude or literacy is a central hiring factor, with AI-literate professionals having a clear advantage in the job market and AI literacy a defining factor in career growth. Think of an accountant in the eighties still insisting on using tables, pen and paper to balance their books even as spreadsheets like Microsoft Excel took over the business world, specifically in the world of finance and accounting. The traditional accountant who refused to embrace this new technology would not last a week. In the same way, AI proficiency or literacy is no longer optional; it is as necessary as knowing how to work on a computer or using a spreadsheet or word processor. It is clear that the rapid adoption of AI in the workplace is not just changing how we work; it is reshaping hiring and talent management. 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The images, especially those that looked like the ones designed by Studio Ghibli, attracted millions of users, leading to appeals by Sam Altman to slow down since the OpenAI 'GPUS were melting'!2 Beyond ChatGPT are several foundation models from Google, Anthropic, X, Mistral, DeepSeek and many others. Then there are the hundreds and thousands of applications being built on top of these models. But the impact of AI and GenAI go beyond just helping us summarise documents, write poems or design recipes and ad copies. AI and GenAI both promise and threaten to impact jobs, work, society, geopolitics and even humanity. As we wrote earlier, Gartner was prescient when it said that 'AI is not just a trend or technology, but a fundamental shift in how humans and machines interact.' The metatrends of AI described below will hopefully lift you above the noise and speculation to help you understand why AI is the fundamental technology of our time and will impact the very foundational principles of humanity. English is the new coding As Gen X was growing up, especially in countries like India, we were told that learning English was the passport to success. We did that faithfully and were arguably successful in our careers and businesses. Our children, in turn, are told that learning how to code is the passport to success, thus coding has become the new English, leading to 10-year-olds being dragged to code camps to learn Python and JavaScript. With GenAI, this changes: every time we write an English prompt for ChatGPT or any of its ilk, we are actually 'coding', i.e. giving it a set of instructions to perform some task for us, whether a summarisation or a video creation or writing up an article. Except, now we're doing it in our natural human language, rather than the language of the machine. This is a very profound development, as it has the potential to democratize coding with, potentially, every educated person on earth being able to write code in their own natural language. Microsoft's Satya Nadella mused that instead of learning the machine's language, machines would have to learn ours; Jensen Huang of Nvidia was of the same opinion, saying that the true potential of AI is that none of us would have to learn how to code. Thus English, or any other natural language, becomes the new coding. AI is the new UI AI becomes the new user interface (UI). Bill Gates presciently wrote in November 2023: '… you won't have to use different apps for different tasks. You'll simply tell your device, in everyday language, what you want to do.' UI has defined how humans and machines have interacted with each other, evolving from the difficult UIs of machine language and DOS to GUI (Graphical User Interface), search bars, browsers and apps. Simpler and friendlier UI led to a faster, intuitive and more productive interaction with a machine. The AI-driven fundamental shift will lead to voice UI, as the spoken word becomes the new way to interact with machines, similar to interactions with other humans. We will chat with ChatGPT or Gemini to work with them on our day-to-day tasks. Our devices will morph with voice becoming the primary interface, rather than a large screen. The first proto devices are already out, even if not tremendously successful yet, like the Rabbit R1 and the AI Pin. But all in all, an AI assistant is fast becoming the new UI. AI and humans are the new creators GenAI is a cognitive technology, and can perform creative tasks like writing articles and poetry, as well as creating art. This has left many human creators deeply worried about their jobs and vocations, as creativity was supposed to be a uniquely human skill. We believe, however, that GenAI will boost human creativity. Take OpenAI's Sora, for instance: When Sam Altman had teased it to us in 2024, he had invited creative prompts on X to instantly generate videos with the same. Indian entrepreneur Kunal Shah famously gave 'A bicycle race on ocean with different animals as athletes riding the bicycles with drone camera view' and Sora produced a spectacularly creative video. However, it was not Sora, which was being creative but Kunal, who would not have imagined a creation like this, unless he had a tool like Sora or Veo or Kling to manifest his innate human creativity. Thus, I believe, that the combination of humans and AI will give rise to a new era of creativity. AI creates a new customer The Industrial Revolution brought with it the transactional industrial customer who rarely used technology, and the internet brought the digital comparison-driven social customer who searched and clicked her way through brands. A new kind of customer will emerge in this age of AI – someone who lives in the era of infinite hyperpersonalised choice, has immersive and conversational interaction with brands, uses AI that anticipates her needs, helping her build a brand relationship that is collaborative rather than functional or emotional. This will mean a gut-wrenching change in business and marketing, as industries race to adjust to this new reality. Agents are the new platform If 2023 was the year when ChatGPT reigned, and 2024 was when a thousand LLMs bloomed, 2025 will be the year of AI agents Bill Gates blogged about in 2023 with keen foresight: 'In the next five years … you'll simply tell your device, in everyday language, what you want to do … and software will be able to respond personally because it will have a rich understanding of your life. This type of software – something that responds to natural language and can accomplish many different tasks based on its knowledge of the user – is called an agent.' So, if you plan a vacation today, it means several hours spent tapping across multiple apps before you book a satisfactory itinerary. However, a future booking agent could select a hotel and airline based on your past preferences and pricing, design a daily itinerary based on your known interests and then proceed to book flights and restaurants, after you have given permission and the agency to do so. Sarah Hinkfuss of Bain Capital described this well: 'We are used to 'pulling' information from computers, (AI agents will) 'push' finished work to us instead'. Hundreds of startups have heard his clarion call to build agents on top of the LLMs that Big Tech is rolling out – Microsoft with CoPilot Wave 2, Google with Gemini 2, Salesforce with AgentForce and so on. Minday scours the Internet and mines your preferences to find the best restaurant around you, while Relevance AI automates prospect meetings for harried sales reps. The CEO of the fintech firm Klarna announced that customer service agents built on OpenAI platforms have 'replaced' 700 human agents. It is pertinent to note that no employees were replaced here; but new contact centre roles were taken by AI agents, though under supervision by human beings.
Mint
an hour ago
- Mint
Donald Trump says US will charge tariffs of up to 70%, White House to start sending letters to countries from today
US President Donald Trump has said he will start sending out letters to America's trading partners starting today to begin charging unilateral tariff rates, which countries will have to pay from August 1. Talking to reporters, the President said that the tariff rates could start between 10-20 per cent and could go up to 70 per cent. 'They'll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs,' he said. About '10 or 12' letters will be sent on Friday, Trump revealed, adding that additional letters will go out 'over the next few days.' 'I think by the ninth they'll be fully covered,' Trump added, referring to the July 9 deadline he had earlier set for countries to reach deals with the US to avoid higher import duties he has threatened. The Republican leader did not elaborate on which countries would be charged how much tariffs, or if the tariffs would be charged at higher rates on certain goods. If the 70 per cent tariff claimed by Trump is implemented, it would be higher than any US tariffs the president initially outlined during his 'Liberation Day' rollout on April 2. The countries would have to start paying taxes to the US by August 1, the President said. 'The money will start going to come into the United States on August 1.' As of now, only three countries — China, Vietnam and UK — have signed trade deals with the US. However, two were announced weeks back and there has been no new concrete development after that, except for the trade agreement with Vietnam despite Trump teasing more deals. Trump announced the deal with Vietnam on Wednesday, saying that the US would place a 20 per cent tariff on exports from Vietnam to the US and a 40 per cent rate on goods deemed transshipped through the nation. The US president initially announced his higher so-called 'reciprocal' tariffs on April 2, but paused those for 90 days to allow countries time to negotiate. Last month he called off negotiation talks with Canada, calling it a difficult country. Trump was asked Thursday on whether more deals were coming soon. 'We have a couple of other deals, but you know, my inclination is to send a letter out and say what tariffs they are going to be paying,' he said. Meanwhile, Donald Trump and his representatives from his administration have repeatedly teased an upcoming trade agreement with India, with negotiators reaching Washington DC to participate in talks. India and the United States will likely finalise an interim or a 'mini trade deal' within the next 48 hours, with negotiations underway in Washington, DC, news reports said on July 3.
