The Week in Numbers: Trillion Dollar Babies 📈
From Nvidia powering up to new highs to the NBA racking up a big score, here’s a round-up of the top business and finance numbers of the week.
Nvidia’s Target in Sight 🚀
Nvidia, the AI chip champion, hit a market value of just over $3 trillion, overtaking Apple as the world’s second most valuable company. Analysts predict that it won’t be long before Nvidia surpasses Microsoft to claim the top spot.
- Nvidia surpasses Apple as the world’s second most valuable company with a market cap over $3 trillion.
- Analysts predict Nvidia may soon overtake Microsoft as the most valuable company.
European Central Bank Rate Cut 🏦
The European Central Bank cut its rate by a quarter of a percentage point, marking its first reduction in five years. ECB President Christine Lagarde remains concerned about inflation and emphasizes the determination to fight it.
- ECB reduces interest rates by a quarter of a percentage point.
- Christine Lagarde stresses the importance of fighting inflation.
NBA’s Media Rights Deal 💰
The NBA is in talks for a new media rights deal valued at $76 billion over 11 years. Deals with NBC, ESPN, and Amazon are in progress, potentially leaving TNT out of the picture despite its longstanding ties with the league.
- NBA negotiating a media rights deal worth $76 billion over 11 years.
- Possible exclusion of TNT from the deal due to new agreements with NBC, ESPN, and Amazon.
GameStop and Meme Stocks Surge 🚀
GameStop shares surged by almost 50% following influential stock posts by online figure Keith Gil, also known as “Roaring Kitty.” His return to social media has also boosted other meme stocks like AMC.
- GameStop shares jump nearly 50% after influential posts by Keith Gil.
- “Roaring Kitty” boosts meme stocks like AMC with his social media presence.
Shiin’s London Listing Plans 💼
Shiin, a fashion retailer, is considering a London share listing valued at almost $64 billion after facing opposition to a sale in New York. US lawmakers have raised concerns about the firm’s labor practices.
- Shiin plans a London share listing valued at nearly $64 billion.
- US lawmakers express concerns over Shiin’s labor practices amid opposition to a New York sale.
Hot Take: Wrapping Up the Week 🔥
As the week comes to a close, the business and finance world has seen significant shifts and developments. Nvidia’s meteoric rise, ECB’s interest rate cut, NBA’s media rights deal negotiations, GameStop’s surge, and Shiin’s listing plans have kept the markets abuzz.
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