Nvidia's $4 trillion milestone caps rise of stock market behemoth
Reaching the lofty milestone caps a massive run for Nvidia's stock price, which has soared some 1,350 per cent since October 2022. This year, the chipmaker's shares are up about 22 per cent against a 6 per cent rise for the S&P 500.
The company's market value hit $4 trillion in morning trading on Wednesday, about 13 months after it had first reached the $3 trillion milestone.
Nvidia's stock surge has given it significant weight in key equity indexes and ETFs that are more heavily influenced by companies with the biggest market values.
At around 7.5 per cent, Nvidia has the biggest weight in the S&P 500, which is widely viewed by investors as the benchmark for the U.S. stock market. The stock has an even greater presence in more tech-heavy measures, such as the popular Invesco QQQ Trust ETF and the Philadelphia SE Semiconductor Index.
Its influence is less significant in the Dow Jones Industrial Average, which is weighted by stock prices as opposed to market values.
Nvidia may soon have company in the exclusive $4 trillion club. Microsoft's market value was hovering around $3.7 trillion on Wednesday. Apple ranks third at about $3.1 trillion.
Their massive market values also illustrate the hefty influence of tech and tech-related companies. The top seven S&P 500 weights, which also include Amazon.com, Alphabet, Meta Platforms and Broadcom, comprise about one-third of the index.
Nvidia's gains also point to the increasing presence of the overall technology sector, which is by far the largest sector in the S&P 500.
The tech sector's market value has grown to one-third of S&P 500 market value, nearly reaching the proportion that the sector hit during the height of the dot com bubble in 2000.
Other tech stocks that have performed well in 2025 include Microsoft, up about 19 per cent this year, Oracle, up 40 per cent, and Palantir, up 88 per cent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
2 hours ago
- Straits Times
Samsung's bet on foldable phones faces major test with slimmer new model
Sign up now: Get ST's newsletters delivered to your inbox Samsung lost its global smartphone crown to Apple in 2023, and faces growing competition from Chinese rivals. SEOUL - Samsung Electronics on July 9 unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple. The stakes are high. The South Korean company lost its global smartphone crown to Apple in 2023, and faces growing competition from Chinese rivals like Huawei and Honor. Meanwhile, Samsung's mainstay chip business has suffered a profit slump stemming in part from its delayed supply of artificial intelligence chips to Nvidia. Samsung's mobile president and chief operating officer, Mr Choi Won-joon, said his most important mission was to make Samsung a leader in AI-powered smartphones. 'I believe that foldable phones, integrated with AI features, are ready to become mainstream by offering unique, differentiated experience,' he told Reuters in his first media interview since being promoted in March. He said Samsung aims to take a leadership position in AI by enhancing cooperation with external partners like Google , unlike Apple, which has been using in-house AI technology that has faced delays in adding key features. Samsung also in New York unveiled its first smartwatches equipped with Google's AI voice assistant, Gemini, which can make recommendations to the owner such as good locations for a run, as an example. Top stories Swipe. Select. Stay informed. World Trump's ambassador nominee to Singapore Anjani Sinha has a rough day at Senate hearing Asia Dr Mahathir at 100: Still haunted by the Malay Dilemma Singapore Academic paper by NUS researchers withdrawn from peer review after hidden AI prompt found Singapore Apex court upholds SMC's conviction of doctor who gave patients unapproved hormones Multimedia 60 objects to mark SG60: Which is your favourite? Singapore Singaporean fugitive arrested in Thailand for suspected drug trafficking and handed over to CNB World Trump issues tariff notices to 7 minor trading partners, hits Brazil with 50% tariff Business SGX securities turnover up 23% in June, bringing financial year's gain to 28% Premium halo Samsung said in April that it was pushing ahead with a premium product strategy, as US tariffs threatened to dampen demand and raise component costs. The smartphone maker increased the US price of Galaxy Z Fold 7 to US$1,999 (S$2,557) by 5 per cent from its predecessor Fold 6, while introducing a less expensive version of its Galaxy Z Flip 7 clamshell phone, Flip 7 FE, priced at US$899. Galaxy Z Fold 7 is equipped with Qualcomm's fast processor, Snapdragon 8 Elite, while Galaxy Z Flip 7 is powered by Samsung's in-house Exynos chips. Analysts said Samsung's new models tackled some of the issues with foldable phones such as bulkiness, and would create a premium halo around the brand. The Galaxy Z Fold 7 weighs 10 per cent less than its predecessor and is 26 per cent thinner. But high prices and a lack of use cases mean foldable phones are likely to remain a niche segment, the analysts said, with data from research firm IDC showing they account for just 1.5 per cent of the total smartphone market. Research firm Canalys predicts Samsung's foldable shipments, which peaked in 2022, will remain flat or slightly declining in 2025, in line with the broader market's flat growth, according to data provided to Reuters. Samsung's foldable smartphones account for 4 per cent of its total phone sales but 16 per cent of those priced over US$800, Canalys said. Its data shows Samsung's dominance of the foldable phone segment is being eroded by Honor and Huawei, which are enjoying strong sales, especially in China. Samsung, which held its unveiling event in New York on July 9, will focus on the United States, Europe and South Korea for foldable phone sales, Mr Choi said. Mr Choi said Samsung is 'working hard' to develop tri-foldable phones, which users can fold three ways, without elaborating on the launch date. In the meantime, Mr Choi said Samsung accelerated output and shipments of smartphones bound for the US to mitigate the impact of looming US tariffs, without giving details. Samsung produces its smartphones in Vietnam, which accounts for more than half of its phone output, as well as in South Korea and India. He also said Samsung has been tackling China's export curbs on rare earth and rare earth magnets by diversifying suppliers beyond the dominant supplier and significantly increasing its own internal stockpiles. REUTERS
Straits Times
2 hours ago
- Straits Times
Australia's beef exports to the US surge despite Trump tariffs
Sign up now: Get ST's newsletters delivered to your inbox The US is the biggest market for Australia's almost A$14 billion beef and veal export sector. Australia's total beef exports to the US rose significantly in June in the face of US President Donald Trump's new tariff regime, which saw the American leader specifically single out Canberra for refusing to accept adequate red meat imports. Exports of chilled and frozen beef to the US jumped 23 per cent from June 2024 , according to Meat & Livestock Australia data released on J uly 10 . Shipments in the first six months were up almost a third from the same period in 2024 . The US is the biggest market for Australia's almost A$14 billion (S$11.7 billion) beef and veal export sector, and is one of America's largest foreign sources of red meat. Shipments to the US currently face a flat 10 per cent tariff, and Mr Trump singled out the nation for not buying enough US produce in the April press conference where he announced his administration's 'reciprocal' trade rates. Exports to China more than doubled from June 2024 and were just a third below those to the US, the July 10 data showed. Diplomatic tensions had hampered agricultural shipments between the two nations following the Covid-19 pandemic, although relations improved after the election of the centre-left Labor government in 2022, and trade has largely resumed. BLOOMBERG Top stories Swipe. Select. Stay informed. World Trump's ambassador nominee to Singapore Anjani Sinha has a rough day at Senate hearing Asia Dr Mahathir at 100: Still haunted by the Malay Dilemma Singapore Academic paper by NUS researchers withdrawn from peer review after hidden AI prompt found Singapore Apex court upholds SMC's conviction of doctor who gave patients unapproved hormones Multimedia 60 objects to mark SG60: Which is your favourite? Singapore Singaporean fugitive arrested in Thailand for suspected drug trafficking and handed over to CNB World Trump issues tariff notices to 7 minor trading partners, hits Brazil with 50% tariff Business SGX securities turnover up 23% in June, bringing financial year's gain to 28%
Business Times
2 hours ago
- Business Times
Casinos stay robust in Singapore, Malaysia as Cambodia, Thailand take hits: S&P Global
[SINGAPORE] The casino and gaming industry looks set to remain resilient in some Asean economies, a report by market intelligence provider S&P Global indicated on Tuesday (Jul 8). This is despite increased volatility in the macro environment, as tariffs and labour constraints continue to bring uncertainty. Industry revenues continue to be propped up by a premium mass gaming market in the region, noted S&P Global analyst Ong Hwee Yee. Pointing out that gaming as a product has high stickiness, she said: 'Affluent players may be less exposed to a weakening economy than the lower-income groups... Players return and remain engaged.' In particular, gross gaming revenue (GGR) in Singapore, Malaysia and the Philippines is expected to approach, or even surpass, pre-pandemic levels, she added. This is based on improved visitation numbers and a strong domestic market providing a boost to industry players. Moreover, the return of Chinese tourists to South-east Asia is key to this recovery, the analyst said, noting that Chinese visits to Malaysia and Singapore have reached pre-pandemic figures. Singapore had a surge in Chinese players following the introduction of visa-free travel for such tourists last February, driving a 50 per cent year-on-year increase in GGR in the first quarter of 2024, the report showed. Malaysia had introduced a similar scheme in December 2023. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Among the major operators in the region's casino sector is Malaysian hospitality giant Genting Bhd, which has a presence in Genting Highlands, Langkawi and Kijal in Malaysia, as well as Sentosa in Singapore. It is considering setting up a casino in the United States, within the state of New York – which S&P Global flags as an 'event risk' that could impact the group's overall revenues. The firm noted that Genting Bhd could establish a strong foothold in the American market if it secures a full casino licence. The new operation could also benefit from Genting Bhd's existing infrastructure and network, as it already has a local presence in the form of Resorts World New York City. However, failing to gain the licence could impede the competitiveness of the group's New York operations, S&P Global said in its report. Uneven recovery Other markets in the Asean gaming industry, such as Cambodia, are expected to have a slower recovery in GGR, Ong said. Often relying on Chinese junkets – all-inclusive trips for VIP players – casinos in these markets have suffered as Chinese authorities crack down on junket operators, which have been associated with money laundering and corruption. This has dealt a heavy blow to the Cambodian gaming market, which has long depended on these trips to draw high-stakes gamblers. Chinese junket operators accounted for about 70 per cent of Cambodia's GGR in 2019, S&P Global noted. Over in Thailand, hopes that the government would legalise casinos were dashed, as the flagship Bill of suspended prime minister Paetongtarn Shinawatra was dropped on Tuesday. The Cabinet withdrew the Bill, as it 'needs more studies that require further understanding and social context', government spokesperson Jirayu Huangsab said. Most forms of betting are illegal in the kingdom. Paetongtarn's Pheu Thai party had argued that casinos could provide a significant boost to the country's faltering tourism sector, which this year reported a significant dip in visitor numbers, contributing to the country's economic woes. Julapun Amornvivat, Thailand's deputy finance minister, said the authorities 'accept it's not the appropriate time'. 'It's a shame, the delay is a lost opportunity for the country,' he added. S&P Global's Ong said the 'market potential is massive', if Thailand were to pass such a Bill. However, the move could also threaten operations in nearby markets, she added. Enhancements to regional casino operators' existing assets could mitigate this risk, the analyst said, citing Marina Bay Sands' and Resorts World Sentosa's multibillion-dollar upgrades.
