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Move over, Microsoft and Apple. On Tuesday, Nvidia leapfrogged two of tech’s most storied names to become the world’s most valuable public company, according to data from S&P Global. Just two years ago, the company’s market valuation was over $400 million. Now, in the span of a year, it has gone from $1 trillion to more than $3 trillion. Microsoft and Apple both fell, ending the day trailing the Silicon Valley chip maker.
Persons: Jensen Huang Organizations: Microsoft, Apple, Nvidia, P
Autonomous trucking startup Waabi announced Tuesday it has raised $200 million in an oversubscribed Series B funding round led by existing investors Uber and Khosla Ventures. Waabi's latest funding round also includes Nvidia, a new investor in the company, as well as Porsche and the venture capital arm of Volvo. Using generative AI, Waabi has built a single AI system that is capable of reasoning, just as humans do, and that can come up with problems human minds couldn't conceptualize. The new investor round brings Waabi's total funding to $280 million since being founded in 2021. "This funding round gives us everything we need, both financially and strategically, to launch fully driverless trucks and accelerate our growth in 2025," Urtasun said.
Persons: Waabi, couldn't, Raquel Urtasun, Jensen Huang, Urtasun Organizations: Uber, Khosla Ventures, Nvidia, Porsche, Volvo, Uber Freight, U.S, Trucking, CNBC Locations: Toronto, Dallas, Houston, Texas, U.S, Waabi
New York CNN —Nvidia, Wall Street’s artificial intelligence poster child, is now the most valuable company in the United States. Apple is the third most valuable company in the US with a $3.27 trillion market cap. Nvidia earlier this month joined the tech giants in becoming the only US companies to cross a $3 trillion market cap. Nvidia’s chips are unmatched in producing processors that power artificial intelligence systems, including for generative AI, the technology backing OpenAI’s ChatGPT that can create text, images and other media. The Jensen Huang-led company’s dethroning of Microsoft comes as Wall Street’s most prominent tech companies battle for the coveted top spot.
Persons: OpenAI’s, Jensen Huang, company’s Organizations: New, New York CNN, Nvidia, Microsoft, Apple, Developers Locations: New York, United States
On Chinese social media platforms Weibo and Xiaohongshu, searches for “new Chinese style” and “new Chinese style outfits” hashtags exceeded 100 million in early April, according to state news agency Xinhua. “There is no set rule in the ‘new Chinese style’ (trend) that you must follow, so it is more inclusive. Riding the ‘new’ Chinese style waveFashion designers like Samuel Gui Yang, whose collections have long taken inspiration from Chinese heritage, are seeing more interest from mainland China turn to their brands due to the “new Chinese style” trend. Designer Huang Weizhe, who goes by Azhe online, often posts ideas about how to embrace the "new Chinese style" trend. But some of the “new Chinese style” products are “shoddily made” she said, though she thinks that their designs will improve with time.
Persons: CNN —, Liang Ben, , didn’t, Momo, Xiaohongshu, Huang Weizhe, Huang, Samuel Gui Yang, , Chang, Yang, Ang Lee’s, , Hong, Bruce Lee, Eileen Chang, Ian Hylton's, Ian Hylton, Tang, ” Hylton, Min Liu, Min, Hylton, Min “, China’s TikTok, shoddily Organizations: CNN, China News Service, Xinhua, China National Textile and Apparel, Shanghai Fashion, CCTV Locations: China, Shanghai, Beijing, Chengdu, Cao, Shandong, Weibo, London, Hong Kong, American, State, Shandong province
Jensen Huang's biggest career lesson didn't come from a mentor or a fellow tech CEO. "I used to work from one of our international sites for one month each summer," Huang, the billionaire co-founder and CEO of computer chip company Nvidia, said during a commencement speech at the California Institute of Technology on Friday. While there, Huang came across a man working in a vast garden. Their interaction was brief, but the gardener's words became one of the "most profound learnings in my life," Huang said. This gardener has dedicated himself to his craft and doing his life's work.
Persons: Jensen, didn't, Huang Organizations: Nvidia, California Institute of Technology Locations: Japan, Kyoto
Eight current and former Nvidia employees spoke to Business Insider about Huang's leadership style and what it's like to be grilled by him. This story is available exclusively to Business Insider subscribers. AdvertisementThree former senior-level employees said Huang's leadership style is based on this focus on continuous improvement and learning from mistakes. The 'Jensen grilling'Senior-level employees often experience what some have referred to as a "Jensen grilling"— intense questioning by Huang. One employee likened Huang's grilling to an attorney's interrogation, noting that he wouldn't back down until he'd made his point.
Persons: , Jensen Huang, Mark Zuckerberg, Taylor Swift, Huang, they've, Columbo, Hunag, Jensen, he'd Organizations: Service, rockstar, Nvidia, Business Locations: Silicon Valley, Hawaii, Bay, Japan, jyotimann
Huang Xueqin, an independent journalist, was found guilty by the Guangzhou Intermediate People’s Court Friday for “inciting subversion of state power,” supporters said. “There are so few people prosecuted because there are only so few victims who report,” she told CNN in a 2018 interview. In the months following their detention, more than 70 friends and supporters of Huang and Wang were summoned by the police for questioning, according to supporters. A close friend of Huang previously told CNN the journalist had suffered significant weight loss in detention and stopped menstruating for months. I have no sense of belonging anymore,” the friend told CNN last year ahead of the closed-door trial.
Persons: Huang Xueqin, , Wang Jianbin, Huang, Wang, , ” Huang, Huang’s, menstruating, it’s Organizations: Hong Kong CNN, Communist, Guangzhou, Labor, CNN, University of Sussex, Amnesty International, Communist Party Locations: Hong Kong, China, Guangzhou, United Kingdom
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWill Donald Trump go to jail? Here's what to expect from the former president's sentencingFormer U.S. President Donald Trump was found guilty of 34 counts of falsifying business records during his hush money criminal trial in New York City. That's a class E felony punishable by a fine, probation or up to four years in prison per count. CNBC's Dan Mangan breaks down the different legal scenarios the former president could find himself in when he receives his sentencing on July 11.
Persons: Will Donald Trump, Donald Trump, CNBC's Dan Mangan Organizations: U.S Locations: New York City, That's
"Last night, I bemoaned that there aren't enough stocks that are compelling away from tech," Cramer said. And this week's numbers suggest that higher for longer might be too inflexible a strategy for a suddenly gassed economy." Lennar reports on Monday and KB Home reports on Tuesday. Housing starts data will be released on Thursday, and Accenture , Kroger , Darden and Jabil will report earnings. Cramer said three firms slashed their price targets for Olive Garden parent Darden this week, which usually doesn't bode well for the quarter.
Persons: CNBC's Jim Cramer, homebuilders Lennar, Cramer, Antonio Neri, Jensen Huang, Jabil, Kroger hasn't, bode, CarMax Organizations: KB, Citigroup, Hewlett Packard Enterprise, Nvidia, Housing, Accenture, Kroger, Darden, Olive Garden, Apple
A court in southern China on Friday found a prominent feminist journalist guilty of endangering national security and sentenced her to five years in prison, Beijing’s latest blow to civil society. A labor activist convicted of the same charge got a sentence of three years and six months. The activities that prompted the arrest and conviction of the two, Huang Xueqin and Wang Jianbing, involved organizing discussions, providing support to other activists and receiving overseas training. The legal action against Ms. Huang and Mr. Wang, which experts said was harsh even by China’s standards, signals the shrinking space for independent discussion of social issues. “We are seeing an almost zero-tolerance approach to even the mildest forms of civil society activism in China,” said Thomas Kellogg, the executive director of the Georgetown Center for Asian Law.
Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, , Thomas Kellogg Organizations: Guangzhou, People’s, Borders, Protect Journalists, Georgetown Center, Asian Law Locations: China
Jensen Huang doesn't schedule one-on-one meetings with the people who report to him — but that doesn't mean he has no time for them. The billionaire Nvidia CEO and co-founder revealed that aspect of his managerial style during a talk at Stanford University in March. DON'T MISS: The ultimate guide to becoming a master communicator and public speakerIn Huang's case, scheduling 55 recurring one-on-one meetings could fill up a calendar quickly. A fully booked planner carries psychological ramifications, too, Yale University psychology professor Laurie Santos said at SXSW in March. To fend it off, Santos suggested going through your to-do list and figuring out which items don't actually need to be scheduled.
Persons: Jensen Huang, Huang, Steve Jobs, Jeff Bezos, Bezos, Lex, Laurie Santos, Santos Organizations: Nvidia, Stanford University, Apple, Microsoft, Yale University, SXSW, CNBC
Read previewThere are signs that Nvidia is adopting a defensive posture as competitors try to carve out a piece of the AI computing market it has dominated thus far. What does going on the defensive look like for a company with between 70% and 90% market share? Advertisement"Our sense is that investor expectations still haven't adjusted enough to the impacts the Blackwell launch will have on Nvidia competitors," the analysts wrote. The fast pace of new launches makes meaningful competition even harder to fathom according to Morgan Stanley. Morgan Stanley assessed that Broadcom is poised to gain market share while AMD's fate is less certain.
Persons: , Morgan Stanley, Jensen, Lisa Su, Blackwell, Huang, Emma Cosgrove Organizations: Service, Nvidia, Microsoft, Meta, Google, Business, Devices, AMD, Taiwan Semiconductor Manufacturing Corp, Broadcom Locations: Santa Clara , California, ecosgrove@businessinsider.com
Now, key supplier Taiwan Semiconductor Manufacturing Company, or TSMC, appears to want in on the hype. "I did complain to Nvidia's CEO Jensen Huang — the 'three trillion guy' — that his products are so expensive," CC Wei, TSMC's CEO, said last week, per Nikkei. TSMC has already indicated price hikes for production outside of TaiwanIt isn't the first time this year that TSMC has signaled a price hike. AdvertisementIn April, Wei said the company plans to charge customers more if they want their chips made outside Taiwan. "In today's fragmented globalization environment, costs will be higher for everyone, including TSMC, our customers, our competitors, and the entire semiconductor industry."
Persons: , Jensen Huang, Jensen Huang —, Wei, TSMC, Nvidia's Huang doesn't, Huang, Morgan Stanley Organizations: Service, Taiwan Semiconductor Manufacturing Company, Wei, Business, Wall, NVIDIA, Nvidia, New Locations: TSMC, Taiwan, China, Beijing, Arizona, Japan, Germany, New Taiwan
Taipei, Taiwan CNN —When Nvidia surpassed Apple this week to become America’s second most valuable company, its CEO Jensen Huang was being feted like a rockstar in his birthplace Taiwan. Taiwan media has dubbed the phenomenon “Jensanity.”He’s not the only celebrity CEO in town. The United States has imposed a number of restrictions on the export of AI chips to China. Late last year, Chinese tech giants like Tencent were rushing to stockpile AI chips before those curbs took hold. “Taiwan in particular is very important to the semiconductor ecosystem.”People attend Computex 2024 in Taipei, Taiwan, on June 4, 2024.
Persons: Jensen Huang, Huang, , gesturing, ” He’s, Lisa Su, Pat Gelsinger, Cristiano Amon, , isn’t, Hwa Cheng, OpenAI, ” Christopher Miller, China’s, , CNN Huang, Computex, Lai Ching, AMD’s Su, We’ve, Joe Biden Organizations: Taiwan CNN, Nvidia, Apple, AMD, Intel, Qualcomm, Getty, “ Tech, Technology, CNN, Media, Communist Party, United, , Chips Locations: Taipei, Taiwan, Computex, AFP, Beijing, United States, China, “ Taiwan, America, Asia
The heirs to Walmart founder Sam Walton have added $53.7 billion to their combined wealth this year. Only Nvidia CEO Jensen Huang has seen a larger increase in his net worth on Bloomberg's Billionaire Index. AdvertisementIt's no secret that Nvidia founder and CEO Jensen Huang has had an explosive year so far when it comes to his personal net worth. Huang has more than doubled his fortune since January, adding more than $62 billion as the chipmaker's stock is up 40% year-to-date. And while Mark Zuckerberg saw the second-highest growth in individual wealth in 2024, according to Bloomberg's Billionaire Index, the combined gains seen by the Walmart heirs outpaced the Meta CEO.
Persons: Sam Walton, Jensen Huang, Walton, , Huang, Mark Zuckerberg Organizations: Walmart, Nvidia, Service, Meta
JPMorgan upped its growth forecast for the custom AI chip market and said Broadcom's dominance in the space is poised to continue. Essentially, these networking chips help make up the plumbing of data centers. The second line of Broadcom's AI business is custom processors, where the company is best-known for co-designing Alphabet's tensor processing units, or TPUs. Google-parent Alphabet and Broadcom have collaborated on the creation of the AI chips for years, with the sixth-generation TPU being announced last month . The AI chips made by market leader Nvidia and rival AMD are more general purpose.
Persons: Bernstein, Melius, , Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Nvidia, Wall, Broadcom, Melius, JPMorgan, Wall Street, VMWare, Google, Amazon, Microsoft, Marvell Technology, Marvell, AMD, CNBC
Buying stocks with a rising exposure to artificial intelligence could lead to outperformance later this year, according to Morgan Stanley. But for investors who have missed out on the AI trade, Morgan Stanley says it's not too late. In a recent note, a team of eight Morgan Stanley strategists led by Edward Stanley highlighted a group of stocks where artificial intelligence is beginning to play a bigger role in their business, which they called "the enablers." "We believe this strategy of picking stocks where AI materiality is increasing will continue to work for investors for the remainder of 2024," Morgan Stanley wrote. Earlier this week, both Morgan Stanley and Goldman Sachs reiterated buy ratings on First Solar.
Persons: outperformance, Morgan Stanley, Jensen, it's, Edward Stanley, enablers, Morgan, FactSet, Goldman Sachs, Bernstein, Stacy Rasgon, Melius, Raymond James, Josh Beck, Michael Bloom Organizations: Nvidia, Broadcom, Bernstein Research, JPMorgan, Facebook Locations: Thursday's
Larock's experience comes at a time when, at least on the surface, the jobs market has continued to glide along. But worries are growing that the labor market is beginning to show cracks. Welcome to the good news-bad news labor market, where the collective experience is positive but not as much for individuals in particular groups. "But the bad news is that new entrants to the labor market are faring less well," Peng added. While Peng characterized the jobs market as "strong overall," she said there are "soft soft spots" that are particularly hitting "new entrants to the workforce."
Persons: Samantha McCloud, Victoria Garcia, Jessel Rincon, Irfan Khan, Julianna Larock, Larock, Jacqueline Novogratz, Michael Novogratz, Julianna LaRock, nonfarm, It's, Goldman Sachs, Elsie Peng, Peng, Molly Huang, it's, Huang, David Pakula, Cory Stahle, Joanie Bily, Bily, grads, Ethan Mariano, Mariano Organizations: Temple City High School, Los Angeles Times, Investment Partners, University of Delaware, Fordham, Bureau of Labor Statistics, Goldman, Penn State University, Vanguard, Gettysburg College, American University, State Department Locations: Temple City , CA, Wilmington , Delaware, New York City, New York, Horsham , Pennsylvania, U.S, Washington ,, Hazleton , Pennsylvania
Nvidia's Jensen Huang has zoomed up Bloomberg's rich list to rank 13th with a $107 billion fortune. Only Michael Dell, Mukesh Ambani, and Warren Buffett stand between the CEO and a spot in the top 10. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Nvidia cofounder and CEO's 3.5% stake in his company was worth less than $14 billion at the start of last year. This story is available exclusively to Business Insider subscribers.
Persons: Nvidia's Jensen Huang, Michael Dell, Mukesh Ambani, Warren Buffett, , Jensen Huang Organizations: Service, Nvidia, Bloomberg, Business
Oppenheimer raised its price target on Walmart to $75, reiterating its outperform rating on shares. Goodall's $70 price target implies 32.3% potential upside for the stock, which has advanced 28.2% this year already. His price target of $165, up from $145, implies upside of nearly 22% over the next 12 months. COF YTD mountain — Fred Imbert 5:42 a.m.: Oppenheimer hikes price target on Walmart, supports premium valuation for shares Walmart shares are still positioned for steady outperformance, according to Oppenheimer. Analyst Rupesh Parikh reiterated his outperform rating and lifted his price target by $6 to $75, which suggests shares could climb 11.8%.
Persons: Oppenheimer, Jefferies, Goldman, Didier Scemama, Scemama, — Pia Singh, Goldman Sachs, Toshiya Hari, Jensen Huang, Hari, James Goodall, Goodall, John Hecht, Hecht, Fred Imbert, Rupesh Parikh, Parikh Organizations: CNBC, Walmart, buildout Bank of America, Nvidia, United Airlines, Atlantic, Delta, United, Jefferies, Discover Financial Locations: North America, Taiwan, COF
The bank reiterated its $1,500 price target this week, implying another 24% upside for the stock. Nvidia will continue to dominate the computing market in the next upgrade cycle, the bank said. BofA strategists have a 12-month price target of $1,500 a share, implying another 24% upside from where the stock was trading late Thursday morning. Vivek Arya, a senior semiconductor analyst for the bank, added that he believed the stock would dominate the computer market for the next decade. Nvidia stock undergo a 10-for-1 split on Friday, a move that could be a catalyst for further gains as a lower share price helps draw more attention from retail investors.
Persons: , Jensen Huang, Vivek Arya, Ayra Organizations: Bank of America, Nvidia, Service, AMD, Intel, Yahoo Finance, Wall Street, Apple
Nvidia just joined the $3 trillion club along with Microsoft and Apple. Jensen Huang has the AI boom to thank for that. Nvidia's chips are in hot demand from AI and tech companies, stoking a euphoric bull run. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It's a message that Nvidia believers appear to have lapped up, too.
Persons: Jensen Huang, Organizations: Nvidia, Microsoft, Apple, Service, Investors, Business Locations: Santa Clara
Nvidia 's head start in artificial intelligence chipmaking could boost its shares by another 30%, according to Bank of America. Nvidia shares have already risen 29% since the end of March, pushing its year-to-date gain to 135%. Bank of America's Arya reaffirmed his buy rating on shares and a $1,500 price target, implying 29% upside from Tuesday's close. He views Nvidia as best positioned "to enabling the $3 trillion IT industry towards delivering AI services." NVDA YTD mountain Shares this year While giving the Jensen Huang-led company a market value approaching $2.9 trillion, Nvidia's surging share price may create volatility.
Persons: Blackwell, Vivek Arya, Bank of America's Arya, Jensen Huang, Arya Organizations: Nvidia, Bank of America, AMD, Intel, Bank of America's, Blackwell, Grace
Nvidia CEO Jensen Huang signed autographs, including a woman's top, at a Taiwanese tech event. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a crowded booth at a Taiwanese tech conference on Tuesday, the Nvidia CEO wore the same glasses and Tom Ford jacket he sported for Sunday night's keynote address. He signed Macbooks, chips, and even a woman's top, just above her cleavage.
Persons: Jensen Huang, , Tom Ford Organizations: Nvidia, Service, rockstar, Business Locations: Taiwan
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer talks the rise of Nvidia and impact of CEO Jensen Huang'Mad Money' host Jim Cramer looks at Nvidia's impact on the market as the stock hits another record close.
Persons: Jim Cramer, Jensen Huang Organizations: Nvidia
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