Hey Strangers,

#nvidia #stockmarket #ai

Nvidia (NVDA.O), opens new tab became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft (MSFT.O), opens new tab as its high-end processors play a central role in a scramble to dominate artificial intelligence technology.

Shares of the chipmaker climbed 3.5% to $135.58, lifting its market capitalization to $3.335 trillion, just days after overtaking iPhone maker Apple (AAPL.O), opens new tab to become the second most valuable company.

Microsoft's stock market value was $3.317 trillion as its shares dipped 0.45%.

Apple's stock slipped over 1%, leaving its value at $3.286 trillion.

Nvidia's stunning surge in market value over the past year has become emblematic of a Wall Street frenzy driven by optimism about emerging AI technology.

While Nvidia's rally has lifted the S&P 500 (.SPX), opens new tab and Nasdaq (.IXIC), opens new tab to record highs, some investors worry that unbridled optimism about AI could evaporate if signs emerge of a slowdown in spending on the technology.

"It's Nvidia's market; we're all just trading in it," said Steve Sosnick, chief market strategist at Interactive Brokers.

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Something Strange

shoutout to Chris for stopping by

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article links:

https://www.reuters.com/markets/us/nvidia-becomes-worlds-most-valuable-company-2024-06-18/

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Today is for push-ups and Programming and I am all done doing push-ups

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Timeline

00:00 intro

00:20 What Talking We Talking About

03:42 Article

14:26 My Thoughts

19:58 outro

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