Those attractions are all helpful for the FTSE 100 but the fact is that the numbers we’re now talking about for big tech and AI are eye-watering.
Nvidia is higher in premarket trading in New York and on track to become the first ever $5 trillion public company. That’s bigger than the annual GDP of Germany. Nvidia CEO Jensen Huang downplayed suggestions of an AI bubble.
Such is the importance of the world’s most valuable company, it’s at the centre of the trade talks between the US and China. President Trump said he will speak to Chinese leader Xi Jinping about Nvidia’s Blackwell chips, saying they are “super duper.”
Yesterday, it struck a slew of partnerships with the likes of Uber and Palantir, and bought a stake in Nokia. Similar to what happens when OpenAI strikes a pact with a company, shares in all involved rose, such is the sheer excitement among investors about anything involving the poster children of AI.
After the close in New York today, we get reports from Meta, Microsoft and Alphabet, in total more than $9 trillion worth of company and with the vast spending plans of all very much the focus.
The FTSE 100 may be getting by fine without much tech, but no question the ebullience around AI is dominating sentiment elsewhere.
