NVIDIA
Nvidia is now 8% of the entire stock market
Nvidia has become the world’s first £2.9tn company and delivered results that beat market expectations.
The chipmaker reported £34.6bn in revenue for the three months to July, slightly above what Wall Street had predicted.
Its performance is seen as a key indicator of AI demand.
Nvidia’s chips power everything from OpenAI’s ChatGPT to Google’s Gemini and even the UK’s most powerful supercomputer.
TL;DR
Nvidia reported $46.7bn (£34.6bn) in quarterly revenue, topping forecasts.
Its chips power major AI tools, supercomputers, and big tech products.
With 8% of the S&P 500’s value, Nvidia’s results heavily influence markets.
AI’s favourite chip dealer
Big tech names like Microsoft, Meta, and Amazon are among its largest customers, investing heavily to embed AI into their products.
Nvidia now makes up around 8% of the S&P 500’s total value.
Strong earnings are helping drive stock markets to record highs, but weaker results could quickly trigger a downturn.
If Nvidia sneezes, Wall Street catches a cold.