Nvidia’s stock price has more than doubled this year after more than tripling in 2023 and it’s now the third most valuable company in the S&P 500. AP explains how it rose to AI prominence
STORY: From yet another record for Nvidia, to Apple hitting a snag in Europe, this is AI Weekly. Nvidia became the world’s most valuable firm, at least for a while. The AI chip champion overtook Microsoft, with a market value of over $3.3 trillion. Though the Windows maker later regained top spot, it’s all another sign of Nvidia’s relentless rise, with its stock price up over 150% just this year. Apple is delaying the launch of some AI products in Europe, and it’s blaming EU rules. The bloc requires it to ensure rival products and services can function with its devices. Separately, media reports say Apple is also talking to Facebook parent Meta about integrating its AI model. TikTok owner ByteDance is working with U.S. chip designer Broadcom on an AI processor to power its products. Reuters sources say the move would comply with Washington’s export controls, and secure an adequate supply of silicon for the social network. AI is running for parliament, sort of. Businessman Steve Endacott is standing in Britain's general election - with an AI-chatbot to do the talking for him. “Hi, I’m AI Steve, standing to be MP for Brighton and Hove. I’d love to hear what policies you’d like me to adopt.”Watchdogs say if Endacott wins, it will be the human, not the bot, that takes a seat. And OpenAI’s co-founder is starting his own firm. Ilya Sutskever says it will focus solely on making a model that is safe for humanity. He left OpenAI after playing a central role in the drama over the firing and rehiring of boss Sam Altman last year.
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HANOI, Vietnam (AP) — Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can’t sell enough cars.
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
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Prices for services pushed the annual rate of inflation up to 2.9 per cent in May, according to Statistics Canada.
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Trump Media & Technology Group shares rallied after a weekslong decline cut the stock price in half and knocked investors for a loop.
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Guggenheim analyst Ronald Jewsikow started coverage of shares of electric-vehicle maker Rivian with a Buy rating and $18 price target.
An Ontario Conservative MP's use of ChatGPT to share incorrect information online about Canada's capital gains tax rate offers a cautionary tale to politicians looking to use AI to generate messages, one expert says.MP Ryan Williams posted last week on X (formerly known as Twitter) an AI-generated ranking of G7 countries and their capital gains tax rates.The list appeared to have been generated by ChatGPT — an artificial intelligence-based virtual assistant — and falsely listed Canada's capital
The chip maker looks to have been hit by fears over a potentially stretched valuation and news that CEO Jensen Huang has been selling stock through a trading plan.
The Bank of Canada will be scrutinizing May inflation figures this week, as it gauges whether it can deliver back-to-back interest rate cuts. Anne Gaviola has this story and more in Business Matters for Monday, June 24, 2024.
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Abercrombie & Fitch’s stock has smoked Nvidia’s in the past year. A strategic makeover under CEO Fran Horowitz is winning fans on Wall Street and Main.
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