Adding Insult To Margin Calls, Nvidia Receives DOJ Subpoena Making Record Price Drop Even Worse.
$NVDA is down another 3% in the overnight session After the close, the DOJ sent subpoenas to Nvidia and other companies in an escalation of its investigation into possible antitrust law violations by Nvidia. DOJ is concerned with whether Nvidia penalizes buyers that don’t exclusively use Nvidia chips and makes it difficult to switch suppliers. Source: Markets & Mayhem
Gains from the panic lows 3 weeks ago...
Nvidia $NVDA: +43% Bitcoin $BTC: +30% Nikkei 225 $NIKK: +23% Tesla $TSLA: +21% Meta $META: +17% Netflix $NFLX: +17% Amazon $AMZN: +17% Apple $AAPL: +16% Nasdaq 100 $QQQ: +13% Russell 2000 $IWM: +12% S&P 500 $SPY: +10% Microsoft $MSFT: +8% Google $GOOGL: +7% Source: Charlie Bilello
The top 10 largest stocks in the world are now worth a combined $19.48 Trillion up from $19.32T last week
Source: Evan
Nvidia eyes return to record as AI spending bonanza continues
Source: Bloomberg
Top 10 biggest companies in 2024 vs. 2009: What a difference 15 years can make...
Source: Stocktwits, Yahoo Finance
Here's a look at the 30 best performing S&P 500 stocks over the last 20 years since Alphabet $GOOGL IPO'd
NVIDIA $NVDA is on top followed by Apple $AAPL, Netflix $NFLX and then Monster Beverage $MNST. Alphabet ranks 11th just behind Salesforce $CRM. Source: Bespoke
Nvidia $NVDA Blackwell delayed by 3 months due to design flaws.
Nvidia informs its biggest customers Microsoft and Meta. Nvidia Corp.’s upcoming artificial intelligence chips will be delayed due to design flaws, The Information reports, citing two unidentified people who help produce the chip and its server hardware. The chips may be delayed by three months or more, which could affect Nvidia’s customers including Meta Platforms Inc., Google LLC and Microsoft Corp. Nvidia this week informed Microsoft about a delay affecting the most advanced AI chip models in the Blackwell series, according to an unidentified Microsoft employee and another person. The delays mean big shipments aren’t expected until the first quarter of 2025, The Information added. Read more: Elliott Says Nvidia Is in A ‘Bubble’ and AI Is ‘Overhyped’: FT A spokesperson for Nvidia wouldn’t comment on its statements to customers about the delay, according to the report, but told The Information that “production is on track to ramp” later this year. Microsoft, Google, Amazon Web Services and Meta declined to comment to the publication, while a TSMC spokesperson didn’t respond to a request for comment. Source: Bloomberg, JaguarAnalytics
Since its after hours low seen just 18 hours ago, Nvidia has added $380 BILLION of market cap.
In other words, Nvidia has added as much market cap as the entire value of Costco, $COST, in 18 hours. This comes after the stock erased $1 TRILLION of market cap over the last 5 weeks. Source: The Kobeissi Letter
