00:00 Speaker A

So, let’s take a look at what’s moving markets. Well, on Wednesday, Nvidia led a tech fueled rally that saw the AI company leap to become the world’s first $4 trillion public company. The chipmaker has already surpassed Apple’s $3.92 trillion valuation it reached last December. And Nvidia’s rise to a $4 trillion company has had implications in the markets in Asia today. Tech stocks there also rose sharply. In fact, since early May, Nvidia’s share price is up more than 40%. That coincides with when President Trump first signaled a thaw in his trade war with China and Nvidia struck a series of multi-billion dollar deals in the Middle East. The stock’s recent rally follows a sluggish start to the year when the emergence of Chinese discount AI model developed by Deepseek shook confidence linked to the sector. Nvidia’s soaring market value underscores Wall Street’s confidence in the rapid growth of AI, with the company’s high-performance chips forming the backbone of this technological advance. Optimism around trade partners reaching deals with the US has recently lifted stocks with the S&P 500 hitting an all-time high. Nvidia accounts for 7.3% of the index, with Apple at 7% and Microsoft at 6%. Microsoft is actually the second most valuable US company worth $3.74 trillion. In fact, Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets. But one note of caution, perhaps, while Nvidia’s chips dominate the AI industry, the likes of Amazon, Microsoft and Alphabet have faced pressure from investors to rein in heavy AI spending. And while Microsoft keeps inching closer to that coveted $4 trillion mark, other behemoths in the MAG 7 like Tesla and Apple have actually been trending down lately.