TechCrunch Daily Crunch Nvidia becomes first public company worth $5 trillion
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Oct 30, 2025 Nvidia has reached a staggering $5 trillion market cap, driven by the demand for its cutting-edge Blackwell chips and booming GPU needs in AI. Meanwhile, Bending Spoons is set to acquire AOL, which brings exciting questions about its brand future. In a surprising turn, GM announces significant layoffs at its EV and battery factories, reflecting a shift in its electric vehicle strategy. These stories highlight the ever-evolving tech landscape and its impact on major players.
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Bending Spoons Buys AOL
- Bending Spoons agreed to buy AOL and secured $2.8 billion in debt financing for the deal.
- The acquisition continues Bending Spoons' trend of buying American internet brands like Vimeo and Evernote.
AOL's Multiple Ownership Changes
- AOL has changed owners multiple times, from Time Warner to Verizon and now to Bending Spoons.
- The purchase aims to tap unexpressed potential in an iconic but evolved internet brand.
GM Scales Back EV Plans
- GM is cutting thousands of EV and battery factory workers and idling Ultium Cells plants into 2026.
- The moves follow a $1.6 billion charge and reduced US EV push after policy and incentive shifts.