The past week has been a whirlwind of activity, with tech giants and industry leaders making headlines. From Nvidia Corp.'s (NASDAQ:NVDA) impressive performance to Elon Musk's massive investment in AI, there's a lot to catch up on. Let's dive into the top stories that shaped the week.
A Non-Tech Company Outperforms Nvidia and Super Micro
Seven of the top ten best-performing S&P 500 stocks over the past year were tech companies. However, the company that topped the list was not a tech company but a utility company, Vistra Corp. (NASDAQ:VST), which gained over 250% over the past year. Nvidia and Super Micro Computer, Inc. (NASDAQ:SMCI) took the second and third positions with gains of 239% and 203%, respectively.
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Nvidia CEO Cashes In
Nvidia CEO Jensen Huang sold over $29 million worth of shares amid the company's remarkable stock market performance. Huang's total sales over the past three weeks amounted to $184 million. Nvidia's stock reached its peak in June, driving the company's market value to over $3 trillion.
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Musk's Massive Investment in AI
Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and founder of xAI, revealed that the upcoming version of his AI chatbot, Grok 3, will be trained on a staggering 100,000 Nvidia H100 chips. These chips are crucial for handling data processing in large language models and are highly sought after in Silicon Valley.
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Peter Thiel's Insights on AI
Palantir Technologies (NYSE:PLTR) co-founder Peter Thiel shared his insights on artificial intelligence, Nvidia, and ChatGPT-parent OpenAI at the Aspen Ideas Festival. Thiel drew parallels between the dot-com bubble of '99 and the current state of AI.
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'Rich Dad Poor Dad' Author Predicts Market Crash
Robert Kiyosaki, author of "Rich Dad Poor Dad," warned of an impending market crash, followed by a long-term bull run for gold, silver, and Bitcoin. Kiyosaki predicted a historic crash in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin, followed by a subsequent bull market cycle starting in late 2025.
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Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Rounak Jain