Nvidia has overtaken Microsoft to become the world's most valuable company in market capitalisation.Investors have been urged to "be careful" about a market crash if spending on AI development plummets.
Microsoft and Apple trailed behind with a stock market value of $US3.317 trillion and $US3.286 trillion respectively, with both seeing their shares dip. The company's market value expanded from $US1 trillion to $US2 trillion in just nine months in February, while taking just over three months to hit $US3 trillion in June.A global survey shows Australians are less comfortable with AI-generated news than the rest of the world, while Meta navigates the next steps in rolling out its AI trial.
Sharp increases in analysts' expectations for Nvidia's future earnings have outpaced its stellar stock gains, resulting in a fall in the stock's earnings valuation.Nvidia recently traded at 44 times expected earnings, down from over 84 about a year ago, LSEG data showed. Yet competition remains high, with tech giants including Meta and Google pushing hard for the integration of AI in their digital offerings.
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