Not long ago I was coming back from a haircut, a rare trip for me outside the New York Stock Exchange, and I heard a man's voice calling me from the curb just behind Fearless Girl, a sculpture by the artist Kristen Visbal that I never fail to grin at when she catches my eye. "Jim, can I shake your hand?" the man asked.
"We're abolishing this product line. We're going to move 2,000 engineers off of project X onto project Y," said Haas, adding that the company had only about 6,000 people at the time.
Shares of NVIDIA Corp. (NASDAQ:NVDA) gained 1.40% over the past five trading sessions after gaining 5.03% the five prior. That brings the stock's year-to-date gain to nearly 31%. In July, the AI chipmaker became the first publicly traded company to hit a $4 trillion market cap in early July. That achievement came just one month after surpassing both Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) in market cap as members of the $3 trillion market cap club.
What's the biggest company in the world? Apple? Amazon? Microsoft? No. It's Nvidia, which in early August became the world's first $4 trillion company, overtaking both Apple and Microsoft. Last week's results were eagerly awaited by the world's markets and actually helped push the S&P 500 and Dow Jones to all-time highs. By the end of August, Nvidia accounted for more than 8% of the S&P 500, the largest weighting for a single stock in the index's history.
Nvidia is open-sourcing Audio2Face, its AI-powered tool that generates realistic facial animations for 3D avatars - all based on audio input. The change means developers can now use the tool and its underlying framework to create realistic 3D characters for their games and apps. Nvidia's Audio2Face works by analyzing the "acoustic features" of a voice, allowing it to generate animation data that it maps to the 3D avatar's facial expressions and lip movement.
"We want all the brightest minds to come to the United States. Remember immigration is the foundation of the American dream, and we represent the American dream," Huang said. "And so I think immigration is really important to our company and is really important to our nation's future, and I'm glad to see President Trump making the moves he's making."
Priced at $15.50 per American Depositary Share (ADS) in its initial public offering, the stock has tumbled roughly 25% to around $11.53 per share amid broader market jitters and sector headwinds. Harsher still, shares languish 74% below the stratospheric peak of $44 per share they hit in February. That's when ( NvidiaNASDAQ:NVDA) unveiled a $24.7 million, 1.7 million-share stake that ignited a trading frenzy, doubling the stock's value in days.
Indeed, it's probably just a matter of time before the GPU king cracks the $10 trillion market cap milestone. And while shares have minted many investors with significant gains in recent years, I do think that growth expectations have become high enough that it'll take more than a good quarterly earnings report and upbeat guidance to move the needle by enough to keep up that blistering pace the firm has maintained over the past two years.
A letter penned by Republican Chairman John Moolenaar and Democratic Ranking Member Raja Krishnamoorthi of the House Select Committee on China shows a decadelong history of a shared address for Futurewei Technologies Inc. at Nvidia's headquarters in Santa Clara, California. The lawmakers say that Futurewei held the prime lease on three buildings at the site before Nvidia acquired full control in 2024. The letter also cites a May filing that shows Futurewei is a subsidiary of Huawei.
US Treasury Secretary Scott Bessent called the announcement from China's State Administration for Market Regulation (SAMR) poor timing, a move analysts said gave China leverage in the trade talks. The two countries have traded barbs over the past six months since US President Donald Trump hit China with massive tariffs, before lowering them to 30 percent, and threatened to shut down popular social media app TikTok.
Wall Street is rising toward more records on Monday at the start of a week that could show whether the U.S. stock market's big recent rally has been overdone or prescient. The S&P 500 rose 0.4% and was on track to top its latest all-time high, which was set last week. The Dow Jones Industrial Average was up 33 points, or 0.1%, as of 1:54 p.m. Eastern time, and the Nasdaq composite was adding 0.8% to its own record.
China accused Nvidia on Monday of violating the country's antimonopoly laws and said it would step up scrutiny of the world's leading chipmaker, escalating tensions with Washington as the two countries hold trade talks this week.Chinese regulators said they would carry out "further investigation" into Nvidia after a preliminary investigation found that the company breached regulations when it made a years-old acquisition.
Nvidia had failed to fully comply with provisions outlined when it acquired Mellanox Technologies, an Israeli-US supplier of networking products, China's State Administration for Market Regulation (SAMR) said on Monday. Beijing conditionally approved the US chipmaker's acquisition of Mellanox in 2020. Monday's statement came as US and Chinese officials prepared for more talks in Madrid over trade, with a tariff truce between the world's two largest economies set to expire in November.
