🚀 Nvidia becomes most valuable company

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Nvidia has become the world's most valuable public company, with its market cap reaching $3.34 trillion after a 3.6% rise in its shares on Tuesday, surpassing Microsoft's $3.32 trillion. Earlier this month, Nvidia overtook Apple by reaching $3 trillion. The company's stock has surged over 170% this year, driven by strong earnings and the AI boom. Dominating 80% of the AI chip market for data centers, Nvidia's data center revenue increased by 427% year-over-year. Although not yet part of the Dow Jones Industrial Average, Nvidia announced a 10-for-1 stock split, which might boost its chances of joining. CEO Jensen Huang’s net worth is now $117 billion.

2. Amazon announced that it has removed 95% of plastic air pillows from its North American packaging, replacing them with paper fillers made from 100% recycled content. This move, Amazon's largest plastic-packaging reduction effort, aims to eliminate nearly 15 billion plastic pillows annually. The company plans to achieve full removal in North America by the end of the year, focusing on curbside recyclable materials. Since October 2023, Amazon has been transitioning to paper fillers, with collaborations to source curbside recyclable options. This effort builds on its 2015 Ships in Product Packaging program, which reduces the use of Amazon’s brown box by shipping products in their original packaging.

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4. Headlines

   1. Trump Media fell 13%, continuing a slide for the stock.

   2. Anthropic has announced an updated version of its AI that directly competes with OpenAI’s offerings.

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