KEYTAKEAWAYS
- Nvidia's market cap reaches $3.34 trillion, driven by AI chip dominance and data center growth.
- TRUMP token struggles with exchange listings due to political bias, while DJT token sees volatile performance.
- Morgan Stanley predicts advanced semiconductor packaging market to hit $116 billion by 2027, highlighting key players in the sector.
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In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.
NVIDIA BECOMES MOST VALUABLE PUBLIC COMPANY
Nvidia has surpassed Microsoft to become the most valuable public company in the world. The chipmaker’s shares rose by 3.6% on Tuesday, increasing its market cap to $3.34 trillion, surpassing Microsoft’s $3.32 trillion. Nvidia, which hit the $3 trillion mark earlier this month, has seen its shares skyrocket by over 170% this year, driven by the rise of generative artificial intelligence. Nvidia now holds about 80% of the market for AI chips used in data centers, contributing to a 427% increase in its data center business revenue, totaling $22.6 billion last quarter.
>>> More to read : Nvidia CEO Jensen Huang’s 2024 Computex Keynote Address in Taipei
STRUGGLES OF THE TRUMP TOKEN IN THE EXCHANGE MARKET
The team behind the TRUMP memecoin, which has no official ties to former President Donald Trump, has faced challenges getting listed on major exchanges. Despite its presence on several decentralized exchanges and smaller centralized ones, their application to Kraken, one of the largest U.S. exchanges, received no response. Marketing director Steven Steele criticized exchanges for political bias, noting refusals from ByBit and OKX due to the token’s political nature. Meanwhile, DJT, another Trump-themed token, rallied nearly 200% but remains controversial regarding its claimed ties to Trump’s campaign.
MORGAN STANLEY HIGHLIGHTS AI PACKAGING INNOVATION
Morgan Stanley has identified advanced packaging in semiconductors as a critical driver of AI innovation, predicting the market will be worth $116 billion by 2027. Advanced packaging, which protects and connects fabricated chips, is essential for enhancing AI chip performance. The bank highlights companies like Amkor, ACM Research, TSMC, and AP Memory as key players in this sector. It also points to Japanese firms Disco and Advantest as leaders in providing advanced packaging equipment. Morgan Stanley believes the market underestimates the pace of innovation and its growth implications.
