NVIDIA’s market value exceeds US$3 trillion | Wilnesh News

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

Nvidia helps S&P 500 hit record
this S&P 500 Index rise to record back Nvidia cross Breaking through the US$3 trillion mark for the first time Employment data weaker than expected Raising hopes for a rate cut. this Nasdaq Index Technology stocks also hit records, rising nearly 2% Hewlett Packard Enterprise and mass strike Sales and earnings each soared on better-than-expected estimates. this Dow Jones Industrial Average Falling behind, adding less than 100 points. 10-Year Treasury Bond Yield Ministry of Finance slippedalthough US oil prices rise in four month low.

Nvidia surpasses Apple
Artificial Intelligence Chip Manufacturer Nvidia transcend Market capitalization exceeds US$3 trillion mark apple become second only to Microsoft. Nvidia shares have risen 24% since going public Huge profits The May report showed that Apple’s stock price has risen only 5% this year as sales growth has stagnated in recent months.

Barron’s backs Musk’s pay deal
Billionaire investor Ron Baron public defense Elon Musk’s controversial $56 billion Tesla Paid plan. The chairman and CEO of Barron Capital believes that the plan is reasonable because it is linked to “aggressive” performance targets, because without Musk “there would be no Tesla.” Barron previously revealed that his company has invested approximately 20 times in Tesla since first purchasing it in 2014. Shareholder votes.

Elliott reacquires SoftBank stake
Elliot Management Companyan activist investor, Holds US$2 billion in shares exist Softbank and is pushing for $15 billion in stock buybacks. This marks Elliott’s second investment in Masayoshi Sonleadership company. In 2020, at Elliott’s urging, SoftBank launched a US$20 billion stock repurchase and asset disposal plan. Elliott believes another buyback would boost SoftBank’s stock price and show confidence in Chief Executive Masayoshi Son’s plans, especially in artificial intelligence.

Electric air taxi gets FAA approval
shares Archer Air Skyrocketed 6% after the Federal Aviation Administration announced indeed The maker of electric air taxis has received a key certification that will allow the company’s planes to finally carry passengers. Archer, winning orders and support United AirlinesElectric vertical takeoff and landing aircraft are being built for urban areas, which could reduce carbon emissions. Archer works with automakers star Produce hundreds of electric air taxis.

(PRO) Buy on dips
While investors are worried about the biotech company’s potential loss of exclusivity and increased competition, Goldman Sachs believes Increased by more than 60%. The Wall Street bank believes investors should buy the dip and consider its “overlooked” pipeline.

billionaire investor Ron Barron supports Elon Muskof $56 billion compensation package It almost feels like looking in the rearview mirror. Still, it is a crucial intervention ahead of next week’s vote on the largest pay package in corporate America.

Shareholder advisory firm Glass Lewis and international space stationhas told investors Decline the award. exist urination The judge said the process was flawed because of the compensation committee’s close relationship with Musk. For example, Tesla Chairman Robyn Denholm sold some Tesla options for $280 million between 2021 and 2022, which was, as she described it, a “change.” life” transactions. Other members of the team have relationships with Musk dating back 15 years or more and often vacation together.

The package has no salary or cash bonuses and sets rewards based on Tesla’s market value rising to $650 billion within 10 years from 2018.

At its peak, Tesla’s market capitalization reached $1.2 trillion in November 2021. Its current market capitalization is $560 billion. although Barron’s remains bullish and has made and expects to make more money from Tesla and other companies investor expectations The company’s shares fell as much as 30%.

Who would bet with Musk? He took over a niche automaker that was on the verge of bankruptcy, took on Detroit, and now plans to reinvent the electric-vehicle maker into a leader in electric vehicles. Artificial intelligence and robotics.

Still, Wall Street has new favorites Nvidia. It passed the $3 trillion mark, surpassing Apple to become the second-largest company in the United States by market capitalization. Ahead of Thursday’s all-time high, UBS famous Nvidia’s year-to-date gains have contributed significantly to the S&P 500’s 2024 gains.

“NVDA has accounted for 30% of the market’s returns year to date,” strategist Jonathan Golub wrote in a note to clients Wednesday. “The S&P 500 return fell to 7.8% from 11.3% excluding NVDA). Many stocks are moving in tandem with the artificial intelligence theme.”

While some are wary of profit-taking, the company 10-for-1 stock split Retail investors who are on the fence should be encouraged to get a piece of the AI ​​craze. Bank of America still believes Stock upside.

— CNBC’s Brian Evans, Alex Harring, Darla Mercado, Kif Living, Rohan Goswami, Leslie Josephs and Yun Li contributed to this report.