Nvidia Overtakes Apple As World's Most Valuable Company

Nvidia dethroned Apple as the world's most valuable company on Friday, following a record-setting rally in the stock powered by an insatiable demand for its new supercomputing AI chips.

Nvidia's stock market value briefly touched $3.53 trillion, while that of Apple was $3.52 trillion, according to data from LSEG.

In June, Nvidia briefly became the world's most valuable company, before it was overtaken by Microsoft and Apple. The tech trio's market capitalizations have been neck-and-neck for several months. Microsoft's market value stood at $3.20 trillion.

Nvidia's stock has risen about 18% so far in October, with a string of gains coming after OpenAI, the company behind ChatGPT, announced a funding round of $6.6 billion. Nvidia provides chips used to train so-called foundation models such as OpenAI's GPT-4.

"More companies are now embracing artificial intelligence in their everyday tasks and demand remains strong for Nvidia chips," said Russ Mould, investment director at AJ Bell.

"It is certainly in a sweet spot and so long as we avoid a big economic downturn in the United States, there is a feeling that companies will continue to invest heavily in AI capabilities, creating a healthy tailwind for Nvidia."

Nvidia's shares hit a record high on Tuesday, building on a rally from last week when TSMC, the world's largest contract chipmaker, posted a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in AI.

The next big test will be when Nvidia reports third-quarter results in November. Nvidia in August forecast third-quarter revenue of $32.5 billion, plus or minus 2%, compared with the current average analyst expectation of $32.90 billion, according to data compiled by LSEG.

Morgan Stanley analyst Joseph Moore said in a note dated Oct. 10 that he remains "very bullish" about the company longer term, but the recent rally "raises the bar for earnings somewhat".

After a meeting with Nvidia's CEO Jensen Huang, Moore noted the ramp up in production of its next-generation Blackwell chips appeared to be "quite strong" and are booked out for 12 months. The stock came under pressure in August after Nvidia confirmed reports that the production of Blackwell chips was delayed until the fourth quarter.

Shares of Nvidia, Apple and Microsoft have an outsized influence on the richly valued technology sector as well as the broader U.S. stock market, with the trio accounting for about a fifth of the S&P 500 index's weightage.

Frenzy around the prospects of AI, expectations that the U.S. Federal Reserve will considerably bring down interest rates, and most recently, an upbeat start to the earnings season, have pushed the benchmark S&P 500 to an all-time high last week.

Nvidia's massive gains have helped boost the stock's appeal for option traders and the company's options are among the most traded on any given day in recent months, according to data from options analytics provider Trade Alert.

The stock has surged nearly 190% so far this year as a boom in generative AI prompted the company to issue a series of blowout forecasts.

"The question is whether the revenue stream will last for a long time and will be driven by the emotion of investors rather than by any ability to prove or disprove the thesis that AI is overdone," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

"I think Nvidia knows that near term, their numbers are likely to be quite remarkable."
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Allu Arjun Confirms Pushpa 2: The Rule New Release Date. Bonus - New Look

For all the movie buffs waiting for Pushpa 2: The Rule, we have an update. The movie has a new release date once again. The film, featuring Allu Arjun and Rashmika Mandanna in lead roles, will now hit the big screens on December 5. It is worth noting that the movie was previously slated for release a day later, on December 6. Before that, the makers had announced August 15 as the release date. Now, announcing the new date, Allu Arjun has shared a post on X (formerly Twitter). In the poster, we see Allu Arjun dressed as his character, holding a gun with a cigar in his mouth. The side note read, “Pushpa 2: The Rule on Dec 5th.”

#Pushpa2TheRuleOnDec5th pic.twitter.com/SZMNKWJKMJ

— Allu Arjun (@alluarjun) October 24, 2024

In June, when the makers postponed Pushpa 2: The Rule's release date from August 16 to November 6, they shared an elaborate note on X. The note read, "Pushpa 2 The Rule is one of the most anticipated Indian films. Following the immense success of Pushpa: The Rise, our responsibility to deliver excellence has increased significantly. We have been tirelessly working to complete the movie and release it on time. However, due to the remaining shoot and subsequent post-production work, we will not be releasing the film on August 15th, 2024. This decision is made in the best interests of the film, the audience, and all stakeholders. Our goal is to provide a memorable experience on the big screen without compromising quality.”

It continued, "The overwhelming response to our teasers and songs across all languages has been heartening, and we promise to deliver a film that you will truly love. We extend our heartfelt thanks to the audiences and our partners worldwide for their unwavering support. The media and film industries have also been incredibly supportive. Pushpa 2 The Rule will now be released worldwide on December 6th, 2024. We are committed to giving you the best, and you will see only the best in cinemas.”

#Pushpa2TheRule pic.twitter.com/nJriHfv90N

— Mythri Movie Makers (@MythriOfficial) June 17, 2024

Directed by Sukumar, Pushpa 2: The Rule is the sequel to the 2021 film Pushpa: The Rise. The franchise has been bankrolled by Mythri Movie Makers. 

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Chief Justice DY Chandrachud Says "Stopped Morning Walks" Due To Pollution

The seasonal pollution spike in Delhi is affecting the health regimen of Chief Justice of India DY Chandrachud. The Chief Justice, in an informal conversation with reporters at the Supreme Court on Thursday, said he has stopped going for morning walks due to rising levels of air pollution.

"I have stopped going for morning walks from today. I usually go for a walk around 4 am to 4.15 am," he said.

His doctor, the Chief Justice added, has advised him to avoid going out in the mornings, saying it is better for him to stay indoors and avoid respiratory diseases.

The air quality in Delhi has remained "very poor" for the better part of the week, prompting concern over the increased risk of respiratory diseases. On Wednesday, Delhi recorded the worst air quality in the country despite the Commission for Air Quality Management invoking stage two of the anti-pollution plan GRAP.

The top court had grilled the Centre and Punjab and Haryana governments over the states' non-compliance with the necessary anti-pollution measures.

A bench of Justice Abhay S Oka, Justice A Amanullah, and Justice AG Masih, dismissed Punjab and Haryana governments' efforts to stamp out stubble burning, calling it "an eyewash". 

The toxic fumes from over the two states, often visible in satellite images,  contribute to the suffocating blanket smothering the national capital every winter.

Last month, the top court took to task Delhi's air quality panel, saying the body set up to control pollution in the National Capital Region has failed to serve its purpose. 

The court's strictures came after the Delhi government issued its action plan to deal with the annual pollution. 

The 50th Chief Justice of India, DY Chandrachud, is retiring on November 10. He would be succeeded by Justice Sanjiv Khanna, who will take oath on November 11. 

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156.7 Kmph Pacer To Play In Place Of Shami? Australia Great's Big Advice

Mayank Yadav should be on the plane to Australia if Mohammed Shami is not available for selection, asserted Brett Lee, one of the most devastatingly destructive bowlers, who has high hopes from the Indian pace sensation on the true, bouncy wickets Down Under. Aiming to qualify for a third successive World Test Championship (WTC) final, India will be travelling to Australia next month to defend the Border-Gavaskar Trophy, and doubts remain over seasoned seamer Shami's selection in the squad for the five-match Test series. "I can tell you that batters are okay when you bowl that 135-140 kmph speed, but when you bowl high 150s, I don't care who it is, no one wants to face that."

"He looks like someone who is a complete package, if Mohammed Shami is not ready, at least get him (Mayank) in the squad. I think he would do pretty well on these Australian wickets," Lee told Fox Cricket.

Shami has not played since featuring in the final of the ODI World Cup last November, and even though he went full tilt at the nets recently, India skipper Rohit Sharma is averse to taking an "undercooked" version of the seamer to Australia.

Former Aussie pacer Lee knows a thing or two about batters' discomfort while standing up to express pace.

Lee said, "The great thing is with me that I get to work on the IPL and see a lot of good young Indian cricketers. Mayank Yadav, to watch his first IPL game recently, hit 157 kmph first up in his first game.

"Unfortunately, his franchise probably brought him a little early and he did his side again.

"They put him in cotton wool for a bit. The great thing about India is that they are not worried about how much cricket someone has played or hasn't played, if he is ready to go, get him in there. I actually love that theory," Lee added.

India boast of a world-class bowling attack that can trouble the Australian batters in their own den, and Lee acknowledged that.

"Ashwin is approaching 600 wickets, he has got that beautiful shape when he bowls spin. He can bowl with the new ball as well but I think if India have to win there, then Shami (provided he is fit) can definitely hold the key.

"Jasprit Bumrah, we all know how good he is, he can bowl both ways, he is a great exponent of reverse swing. Mohammed Siraj knows how to make the new ball talk.

"On wickets like Perth, Adelaide, for me it's the combination, these three fast bowlers with Ashwin as the spinner. Then they have got options with guys like who are part-time spinners. But you need to have those three quicks firing if India wants to win," Lee said.

'India don't want to bow down'

Lee described the Indian team as a "powerhouse that don't want to bow down" to anyone, cautioning his compatriots who will take on the Asian giants from November 22.

Lee's remarks came after India's eight-wicket defeat to New Zealand in the Bengaluru Test earlier this week.

"This day and age, India is a powerhouse that don't want to bow down. They know how to win, and they know they can beat Australia; they know they can beat the Kiwis. They know they can beat anyone on any given day," Lee said.

Commenting on India's outing in the Bengaluru Test against the Kiwis, Lee felt that they might have got influenced by 'Bazball', leading to playing some loose shots.

"India just didn't go into their shell. Maybe it's Bazball brushing off on other cricketers around the world," he noted.

"I know that India won't be proud of the way they played. They played some pretty loose shots." India's decision to bat first in overcast conditions raised eyebrows, as the team was bowled out for 46 in the first innings of the opening Test, its lowest Test score at home.

Lee said the side needs to "weigh up the risk factor" and added the Indians should have judged the conditions better.

"But, you've got to weigh up the risk factor as well. There are times when you've got to go, 'Okay, well, maybe the big shots aren't working today'.

"Maybe, just rein it in a little bit. I don't think they sort of summed up the conditions as quickly as what they should have done," Lee said.

India play two more Tests against New Zealand -- Pune (October 24-28) and Mumbai (November 1-5) -- before leaving for Australia.

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Girl Rides Scooter With Father On Pillion, No Helmet. Internet Reacts

A viral video has sparked outrage after showing a young girl riding a scooter with her father as the pillion rider. The girl, wearing a school uniform, was not wearing a helmet. The clip, purportedly from Maharashtra, has ignited a debate about road safety and parental responsibility.

The video has raked in 4.9 million views since being shared online. 

The caption of the video reads, "Shocking visuals from Chhatrapati Sambhajinagar."

View this post on Instagram

A post shared by Chhatrapati Sambhajinagar Insider (@aurangabadinsider)

Netizens have condemned the father's actions, arguing that he should prioritize his daughter's safety and that of others on the road.

A user asked, "Where is the helmet, sir? Na khud pehna na beti ko pehnaya hai (Neither has he worn it, nor have made his daughter wear it)."

Another user commented, "Arrest the father," while a third said, "That's the reason so many accidents are happening. I am not sure what kind of parenting is this?"

"No hate for the kid, please. Parents need to be responsible," read the fourth comment.

"Ok she is riding very nice, but it's not age to ride and parents should take care of it, it's very dangerous," fifth user commented.

While some have suggested that the father might have been controlling the vehicle, others have criticized the excessive backlash. "The father has full control over the vehicle. They are just allowing her to give some acceleration for her happiness itna social drama accha nhi. (This much social drama is not good)," a user wrote. 

Sabse bada support system uske peeche baitha hai! So don't worry (The biggest support system is sitting behind her)," another user wrote. One person wrote, "It's only about the kid's happiness. Chill."

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Video: Priyanka Gandhi's Meet And Greet In Wayanad Day Before Nomination

Congress general secretary Priyanka Gandhi Vadra was seen meeting residents of Wayanad this evening, a day before marking her electoral debut by filing her nomination for the bypoll in the Lok Sabha constituency.

Ms Vadra was greeted warmly by locals and she was seen shaking hands with people, asking their names and clicking selfies with them.

She also visited a local family in Wayanad. "Her hearty visit was greeted joyously by the locals and the mother of the house presented her with a rosary, which she used for years, as a symbol of her love & blessings," the Congress party posted on X.

Congress General Secretary Smt. @priyankagandhi ji made a heartwarming visit to a local family in Wayanad on her way to Sultan Bathery.

Her hearty visit was greeted joyously by the locals and the mother of the house presented her with a rosary, which she used for years, as a… pic.twitter.com/jndddaKJwL

— Congress (@INCIndia) October 22, 2024

Both Priyanka and veteran Congress leader and her mother Sonia Gandhi reached Wayanad by road after landing at Mysore airport where they were greeted by Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar.

Leader of Opposition Rahul Gandhi, chief ministers of other Congress-ruled states and various senior party leaders are expected to reach the hill district ahead of the roadshow which will be held at Kalpetta on Wednesday morning prior to the filing of nomination.

On Tuesday, Rahul Gandhi - who won the seat in Lok Sabha polls but vacated it to hold on to the family constituency Raebareli - said that his sister will emerge as a passionate champion of Wayanad's needs and a powerful voice in Parliament.

"The people of Wayanad hold a special place in my heart, and I can't imagine a better representative for them than my sister, Priyanka Gandhi. I'm confident she will be a passionate champion of Wayanad's needs and a powerful voice in Parliament. Join us tomorrow, 23rd October, as she files her nomination for the Wayanad Lok Sabha constituency. Together, let's ensure Wayanad continues to be represented with love," Rahul Gandhi wrote on X.

The CPI has fielded veteran former legislator Sathyan Mokeri who finished a close third during the 2014 General Elections in Wayanad while the BJP has brought in Kozhikode Corporation Councilor Navya Haridas, a former software engineer who quit her job and entered full-time politics.

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Internet Reacts To Israel's Claim Of Yahya Sinwar's Wife's Rs 26 Lakh Bag

Days after Yahya Sinwar was killed in an Israeli operation in southern Gaza, a video has surfaced showing the Hamas leader, along with his wife and children, moving through a tunnel the night before the October 7 attack on Israel last year.

The CCTV footage, released by the Israel Defense Forces (IDF), captures Sinwar and his group carrying various supplies, including pillows, mattresses, a television, and several bags, into the tunnel.

In the clip, Sinwar's wife is seen holding a bag, which Israel claimed to be worth $32,000 (around Rs 26.90 lakh).

"Sinwar's wife was caught on camera sneaking into the tunnels the night before October 7, clutching a $32,000 Hermes Birkin bag! While Gazans faced hardships under Hamas, Sinwar and his family shamelessly lived in luxury, indulging while sending others to fight," Israel stated.

Lieutenant Colonel Avichay Adraee, the IDF's Arabic language spokesperson, reiterated this claim, highlighting the contrast between the opulent lifestyle of Sinwar's family and the poverty experienced by most residents of Gaza, who "struggle to afford basic necessities."

However, internet users were quick to criticize these claims. Many on X pointed out that the bag was not a "Birkin," accusing Israel of spreading false information.

They are not stupid, they know that's not a Birkin, but they're pandering to an audience of evil, delusional beings who are willing to believe anything Israel says so they can continue their support without feelings of guilt bc the ppl they're murdering somehow deserve it. https://t.co/GZXsm1hx9O

— Rebecca Sevilla (@rebeccasev7) October 20, 2024

A user wrote, "They are not stupid, they know that's not a Birkin, but they're pandering to an audience of evil, delusional beings who are willing to believe anything Israel says so they can continue their support without feelings of guilt bc the ppl they're murdering somehow deserve it."

Another user commented, "Even someone with zero fashion sense knows this bag ain't no Hermes, not even close. How's the official Israel account gonna mess that up? Y'all are embarrassing yourselves out here."

"Haha such a lame propaganda to come up with, The oceans of the world are gonna dry up but your lies are never ending," the third user remarked. 

"Desperately clutching at straws. It's not a Birkin. And it's hilarious to see this coming from an official state account. You're neck and neck with old Katzy for the weirdest official account propaganda posts prize," the fourth user commented. 

"Isn't it embarrassing when an official account representing a state posts desperate propaganda? The world is laughing at you," the fifth user wrote. 

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