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Daily Mail
an hour ago
- Daily Mail
Nvidia is first company to hit $4TRILLION market value as AI boom drives demand
Nvidia last night became the world's first $4 trillion company as the chip designer's remarkable rebound continued. Shares in the Silicon Valley tech giant rose almost 2 per cent in early trading to notch yet another milestone and beat the $3.9 trillion record set by iPhone maker Apple at its peak last December. It means Nvidia is now worth more than the entire annual economic output of the UK and follows a faltering start to the year when the launch of China's DeepSeek threatened to dent demand for its microchips, which are driving the artificial intelligence (AI) revolution. Shares are up by more than two-thirds since May as fears over US trade tariffs receded. The latest rally stems from a commitment to AI spending from Nvidia's biggest customers, including Microsoft, Meta, Amazon and Alphabet, who account for 40 per cent of sales. They are projected to spend more than £250billion on AI, up from £230billion this year, according to analysts' estimates compiled by Bloomberg. 'There's obviously tremendous demand,' said Brian Mulberry at Zacks Investment Management, who said Nvidia chips were needed for AI to move to the next level. Founded three decades ago, Nvidia first became the world's biggest company last year and has vied with Apple and Microsoft for the top spot since. Founder and chief executive Jensen Huang has developed something of a cult following among Nvidia's army of devotees. Its shares are the best-performing of leading US companies over the past decade and account for 7.5 per cent of the benchmark index. Huang is the biggest single shareholder, with a 3.8 per cent stake worth more than £110billion, as Nvidia has become the biggest beneficiary of a tech boom that has exceeded the headiest days of the turn-of-the-century dotcom era. It dominates the market for super-fast chips that fuel AI services such as ChatGPT, the OpenAI chatbot. Huang has been bullish about the potential of AI and robotics to drive trillions of dollars in sales in coming years, as upgrades to processors and data centre infrastructure extend its lead over rivals. Nearly 90 per cent of Wall Street analysts have a 'Buy' rating on Nvidia, meaning they think the shares will go even higher. Nvidia reports its latest earnings next month. 'What we're going to see is if the company's going to beat and raise guidance, like they tend to do,' said Ken Mahoney, president of Mahoney Asset Management. Nvidia's valuation is below its ten-year average, so shares could go higher, he added.
Daily Mail
an hour ago
- Daily Mail
America's largest airport reveals 'plan' to build NUCLEAR REACTOR on its land
America's largest airport by size is reportedly considering plans to build a nuclear reactor on its sprawling 33,500-acre property. Denver International Airport CEO Phil Washington, 67, made the shocking revelation during a recent Future of Aerotropolis event hosted by local business publication, Business Den. Washington, a former pick to lead Joe Biden 's FAA before he withdrew under heavy Republican criticism over the airport's safety record, told the panel discussion the he was seriously considering a 'small modular reactor' to meet growing energy demands. 'When we think about capacity and electricity and power, the development that's going on out there, we need to be thinking about this,' Washington said, according to Business Den. 'And so this is something that is imminent, that I plan to bring forward, for a study on how we can do this.' The project comes as the largest airport in the US by land area works to attract private development on its property. When asked whether those development efforts were in the early or later stages, Washington said they might be in the 'bottom of the first.' 'I think we have warmed up,' he said. 'We have finished our warmups. And we might be in the first inning, bottom of the first.' In 2023, Washington, who has served as DIA CEO since 2021, withdrew himself from being considered for former President Biden's pick to head the Federal Aviation Administration (FAA). He did so after facing criticism for his lack of aviation experience amid six high-profile near-miss collisions earlier this year. Washington's nomination was announced by the White House the year prior. But the decision was quickly met with pushback from Republican lawmakers questioning the then 65-year-old's credentials. Critics against Washington's ascension to top aviation regulator also cited his potential legal entanglements. These include questions about his connection to a corruption investigation in Los Angeles while heading the county's MTA. Since then, Washington assumed the role of chief executive of Denver International, with Biden tapping him for the all-important role this past July. Washington's current post is his only involving aviation in a more than four-decade career. Interest in nuclear energy is growing across the country as states look for cleaner ways to power their communities. In New York, Democratic Governor Kathy Hochul recently directed the state's power authority to build a new zero-emission nuclear plant upstate. Washington, a former pick to lead Joe Biden 's FAA before he withdrew under heavy Republican criticism over the airport's safety record, told the panel discussion the he was seriously considering a 'small modular reactor' to meet growing energy demands This would be the first in a generation. In Colorado, Democratic Governor Jared Polis signed a new law in April that labels nuclear as a 'clean energy resource.' This means future plants could now qualify for state funding alongside wind and solar. And in Texas, Republican Governor Greg Abbott has gone even further creating a new state nuclear energy office and investing $350 million to expand nuclear power.
Reuters
2 hours ago
- Reuters
Nvidia's $4 trillion milestone caps rise of stock market behemoth
NEW YORK, July 9 (Reuters) - The stunning rise of Nvidia Corp (NVDA.O), opens new tab to become the first publicly traded company valued at $4 trillion underscores the massive importance to the stock market of the AI chipmaker and the technology sector. Reaching the lofty milestone caps a massive run for Nvidia's stock price, which has soared some 1,350% since October 2022. This year, the chipmaker's shares are up about 22% against a 6% rise for the S&P 500 (.SPX), opens new tab. 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%, 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 (QQQ.O), opens new tab and the Philadelphia SE Semiconductor Index (.SOX), opens new tab. Its influence is less significant in the Dow Jones Industrial Average (.DJI), opens new tab, which is weighted by stock prices as opposed to market values. Nvidia may soon have company in the exclusive $4 trillion club. Microsoft's (MSFT.O), opens new tab market value was hovering around $3.7 trillion on Wednesday. Apple (AAPL.O), opens new tab 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 (AMZN.O), opens new tab, Alphabet (GOOGL.O), opens new tab, Meta Platforms (META.O), opens new tab and Broadcom (AVGO.O), opens new tab, comprise about one-third of the index. Nvidia's gains also point to the increasing presence of the overall technology sector (.SPLRCT), opens new tab, 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% this year, Oracle (ORCL.N), opens new tab, up 40%, and Palantir (PLTR.O), opens new tab, up 88%.
