Tech Brief (Oct. 30): Nvidia Becomes First Tech Firm to Top $5 Trillion Market Cap
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Nvidia market cap surpasses $5 trillion
Nvidia Corp.’s market capitalization surpassed $5 trillion on Oct. 29, making it the first technology company in the world to do so. The chipmaker’s shares closed up 2.99% at $207.04. Speaking at the company’s GTC conference the same day, CEO Jensen Huang said Nvidia could achieve a cumulative $500 billion in data center revenue from 2025 to 2026.
OpenAI investment hits Microsoft’s profit
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- Nvidia’s market cap surpassed $5 trillion, the first technology company to reach this milestone; CEO projects $500 billion in data center revenue (2025–2026).
- Microsoft’s net income slowed due to a $3.1 billion impact from its $13 billion OpenAI investment; Alphabet’s revenue topped $100 billion, raising its 2025 capital expenditure forecast.
- Meta’s net income dropped 83% due to a $15.93 billion one-time tax expense; GlobalFoundries plans a €1.1 billion German expansion; China’s electronics output rose 10.9%.
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- Nvidia Corp.
- Nvidia Corp.'s market capitalization exceeded $5 trillion on October 29th, making it the first technology company globally to achieve this milestone. Its shares closed up 2.99% at $207.04. CEO Jensen Huang stated that Nvidia could reach a cumulative $500 billion in data center revenue between 2025 and 2026.
- Microsoft Corp.
- Microsoft Corp. reported $77.7 billion in revenue for the quarter ending September 30, an 18% year-on-year increase. Net income rose 12% to $27.7 billion. The company's $13 billion investment commitment to OpenAI, with $11.6 billion funded by the end of September, reduced its net income for the quarter by $3.1 billion.
- OpenAI
- OpenAI is mentioned in the context of Microsoft's financial performance. Microsoft's total investment commitment to OpenAI has reached $13 billion, with $11.6 billion already funded. This investment reduced Microsoft's net income for the quarter ended September 30 by $3.1 billion.
- Alphabet Inc.
- Alphabet Inc. reported Q3 revenue of $102.3 billion, a 16% year-on-year increase, driven by double-digit growth across its Google search, YouTube ads, Google subscriptions, platforms and devices, and Google Cloud businesses. The company plans to raise its 2025 capital expenditure forecast to between $91 billion and $93 billion, anticipating a significant increase next year primarily for data center construction.
- Meta Platforms Inc.
- Meta Platforms Inc. reported a 26% increase in third-quarter revenue to $51.2 billion. However, its net income plunged by 83% to $2.7 billion. This significant drop was primarily due to a one-time tax expense of $15.93 billion, which resulted from a law proposed by Donald Trump.
- GlobalFoundries Inc.
- GlobalFoundries Inc. announced a 1.1 billion euro ($1.3 billion) investment to expand its factory in Dresden, Germany. This project, named "SPRINT," aims to increase the facility's annual capacity to over 1 million wafers by the end of 2028, making it Europe's largest.
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