00:00 Speaker A
Here it is, above $5 trillion for that market cap for Nvidia. Just yesterday, we were talking about Microsoft and Apple being above 4 trillion, um and Nvidia says hold my beer, and here we are at 5 trillion for that stock. Take a look at the price action here today. That was the market cap. Whoops, here’s uh I’ll get there. I’ll get there eventually, folks. Um take a look at the price action. Nvidia shares are up 5.4% today.
00:27 Speaker A
A couple of things that are contributing to this latest push higher. First of all, we had CEO Jensen Huang speaking yesterday at the company’s first ever GTC conference in Washington, DC, where they really emphasized the partnership between the administration and the role that sovereign AI plays, um, in the push for data center expansion and the AI wave.
00:47 Speaker A
Um, and Huang also sort of intimated that data center revenue next year will be even higher than analysts had anticipated. That seems to be the chatter among analysts who follow the stock this morning. If we look at semiconductors more broadly here, beyond just Nvidia, we see a pretty big push higher. We also, by the way, had memory chip maker SK Hynix out of South Korea out with its numbers that topped estimates. So we’re not just seeing Nvidia higher, Broadcom, TSM is higher, AMD, ASML, all a few uh outliers here that are not higher including Intel and Texas Instruments, but broadly we are seeing this Nvidia effect lift the rest of semiconductors.