NVIDIA FACES A RECKONING AS AN UPSTART RIVAL RAISES QUESTIONS ABOUT WALL STREET’S DARLING

The superstar run for Nvidia’s stock the last few years has been astonishing. So was its tumble Monday, which caused $595 billion in wealth to vanish. That’s about as much as PepsiCo, McDonalds, Starbucks and Target are worth, combined. Mostly known only in gaming and crypto circles a few years ago, Nvidia burst into the zeitgeist after seeing its sales surge because customers wanted its chips to train their chatbots and other artificial intelligence products. Nvidia became a household name as its stock more than tripled in 2023 and then more than doubled in 2024. Investors and analysts lauded CEO Jensen Huang as the “Godfather of AI.” Nvidia grew into a $3 trillion-plus behemoth and traded places with titans like Apple to become the most valuable company on Wall Street.…

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Apple - 1 Issue, #692

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