Nvidia's market valuation surpassed three trillion dollars, overtaking Apple to claim the number two spot in the market, with Microsoft retaining the top position. The company experienced a remarkable 262% stock price increase year on year, driven by growing demand for its AI chips. However, concerns linger among analysts regarding a potential slowdown or reversal in Nvidia's stock momentum, which could significantly impact the broader market given the company's substantial contribution to the S&P 500 gains.
Nvidia’s market value briefly rose past $3tn to overtake Apple as the world’s second-most valuable company, South Africa’s African National Congress party is considering the formation of a national unity government with rival parties, and UK Prime Minister Rishi Sunak was accused on Wednesday by Sir Keir Starmer of “resorting to lies” over Labour’s tax plans. Plus, a US appeals court has tossed out new rules that would have forced private equity and hedge funds to be more transparent.
Mentioned in this podcast:
Nvidia’s market value powers past $3tn in AI-fuelled rally
Keir Starmer accuses Rishi Sunak of ‘lying’ over Labour £2,000 tax claim
ANC considers national unity government in South Africa
New SEC rules on private funds thrown out by US appeals court
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