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Nvidia Becomes World's First $4 Trillion Company

Nvidia Becomes World's First $4 Trillion Company

A rally in Nvidia's shares lifted its market capitalization above $4 trillion on Wednesday, a world first that caps a remarkable run for the artificial-intelligence chip maker.
Nvidia stock pared gains and recently stood a little over 2.1% higher at $163.44 a share. That put it on course for an end-of-day level slightly below the threshold.
The minimum level for Nvidia to retain a $4 trillion valuation at the close is $163.934, according to Dow Jones Market Data.
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AMD Stock Soars as Trump Lifts China AI Chip Ban
AMD Stock Soars as Trump Lifts China AI Chip Ban

Business Insider

time11 minutes ago

  • Business Insider

AMD Stock Soars as Trump Lifts China AI Chip Ban

Advanced Micro Devices (AMD) stock rallied on Tuesday after President Donald Trump lifted his ban on artificial intelligence (AI) chip sales to China. The latest reports claim that AMD has gained permission to sell its MI308 chips to Chinese customers, despite concerns that this would benefit the country's military and AI sectors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Investors will note that the Commerce Department hasn't yet confirmed the lifting of the ban on sales of AI chips to China. However, AMD rival Nvidia (NVDA) has confirmed its ability to sell H20 chips to customers in the country. President Trump's reversal of the AI chip ban is likely tied to ongoing pressure from the tech industry. Nvidia CEO Jensen Huang has been among the figures who have publicly called on the U.S. President to relax restrictions around AI chip sales to China. It appears President Trump has taken that advice. AMD Stock Movement Today AMD stock was up 6.64% on Tuesday morning, extending a 29.15% rally year-to-date. However, the shares have still fallen 17.53% over the past 12 months. Today's news comes with strong trading of AMD stock, with some 44 million shares having changed hands. This is closing in on the semiconductor company's three-month daily average trading volume of roughly 48.49 million shares. In related news, AMD stock received updated coverage from five-star Bernstein analyst Stacy Rasgon today. Rasgon reiterated a Hold rating and $95 price target, suggesting a 39.3% downside for the shares. Is AMD Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for AMD is Moderate Buy, based on 25 Buy and 10 Hold ratings over the past three months. With that comes an average AMD stock price target of $135.97, representing a potential 13.37% downside for the shares.

Asian shares are mixed after Nvidia nudges Nasdaq to a record, while other US stocks slump

time27 minutes ago

Asian shares are mixed after Nvidia nudges Nasdaq to a record, while other US stocks slump

BANGKOK -- Shares in Asia traded mixed on Wednesday after an update on U.S. inflation pulled most Wall Street stocks lower, though gains for Nvidia pushed the Nasdaq to another record. Tokyo's Nikkei 225 edged less than 0.1% lower, to 39,663.40. Investors are focusing on the potential impact of an election for the Upper House of Parliament on Sunday that is expected to lead to tax cuts and higher spending as lawmakers try to restore the waning popularity of the ruling Liberal Democrats. Worries over a deterioration in Japan's fiscal health have pushed yields of long-term Japanese government bonds to their highest levels in years. 'What's at stake isn't simply which party hands out the biggest bundle of goodies. It's whether the walls holding up Japan's house of debt can withstand another round of fiscal fireworks…' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere in Asia, Hong Kong's Hang Seng added 0.1% to 24,618.23 while the Shanghai Composite index slipped 0.1% to 3,503.78. South Korea's Kospi lost 0.9% to 3,186.38 and in Australia, the S&P/ASX 200 declined 0.8% to 8,561.80. Taiwan's Taiex jumped 0.9% and India's Sensex was flat. Thailand's SET also was little changed. In Jakarta, shares rose 0.4% after President Donald Trump said on Truth Social that he plans to tariff imports from Indonesia at 19%, while American goods sent to the Southeast Asian country will face no tariffs. Trump also said Indonesia committed to buying U.S. energy, agricultural products and aircraft. On Tuesday, the S&P 500 fell 0.4% to 6,243.76, but stayed near its all-time high set last week, as 90% of the stocks within the index fell. The Dow Jones Industrial Average dropped 1% to 44,023.29. The Nasdaq composite rose 0.2% to a record 20,677.80 thanks to Nvidia, the market's most influential stock. Nvidia said the U.S. government has assured it that licenses will be granted for its H20 chip, used for artificial intelligence, again and that deliveries will hopefully begin soon. Its 4% gain was by far the strongest force pushing upward on the S&P 500. Stocks of big U.S. banks were mixed following their latest profit reports. JPMorgan Chase slipped 0.7% despite reporting a stronger profit than analysts expected, as CEO Jamie Dimon warned of risks to the economy because of tariffs and other concerns. Citigroup rose 3.7% following its better-than-expected profit report. But Wells Fargo fell 5.5% following its own, as it trimmed its forecast for an important way that it makes money. A report showed inflation in the United States accelerated to 2.7% last month from 2.4% in May as prices rose for clothes, toys and other goods that usually are imported. Economists say prices may be rising because of stiff tariffs that President Donald Trump has proposed on other countries. Treasury yields yo-yoed after the report and then began rising. The yield on the 10-year Treasury climbed to 4.48% from 4.43% late Monday. The yield on the two-year Treasury, which more closely tracks expectations for what the Federal Reserve will do with short-term interest rates, rose to 3.95% from 3.90%. Higher inflation could inhibit interest rate cuts by the Fed. It has been keeping rates on hold this year after cutting them at the end of last year. That's because lower rates can give inflation more fuel, along with a boost for the economy. Wall Street loves lower rates because they goose prices higher for stocks and other investments, and Trump himself has been clamoring for the Fed to cut more quickly. Fed Chair Jerome Powell, though, has been adamant that he wants to wait for more data about how tariffs affect the economy and inflation. Following Tuesday's inflation report, traders are still overwhelmingly betting that the Fed will cut its main interest rate by the end of the year. But they pulled back their bets on the number of potential cuts, according to data from CME Group. In other dealings early Wednesday, U.S. benchmark crude oil picked up 42 cents to $66.94 per barrel. Brent crude, the international standard, was up 30 cents at $69.01 per barrel. The dollar fell to 148.66 Japanese yen from 148.87 yen. The euro was at $1.1627, up from $1.1602.

Nvidia's Huang on Previous H20 Writedown, Tariff Impact
Nvidia's Huang on Previous H20 Writedown, Tariff Impact

Bloomberg

time32 minutes ago

  • Bloomberg

Nvidia's Huang on Previous H20 Writedown, Tariff Impact

Nvidia CEO Jensen Huang tells reporters in Beijing that some of the previous H20 writedown "might be harder to recover." That's after the Trump administration decided to allow Nvidia to resume sales of some artificial intelligence chips to China. Huang also discussed the impact of tariffs, saying "the world is reconfiguring itself and we are a company and we just have to adapt to whatever the world's trade, tax and tariff conditions are." (Source: Bloomberg)

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