Nvidia stock rebounded from last week's decline as some of Nvidia's biggest customers doubled down on artificial intelligence. The Santa Clara, Calif.-based company's stock rose 15% this week, adding more than $290 billion to its market capitalization and marking its best weekly performance since May of last year. This surge is due to Meta, Alphabet, Microsoft has committed billions of dollars in AI investments. “The future is AI,” said Paul Marino, chief revenue officer at GraniteShares. “And with the world's biggest companies each pouring tens of billions of dollars into this space, I think Nvidia has to be the big winner.” That's the market wrap.
Elliott Investment Management Builds approximately $1 billion in equity An activist hedge fund led by Paul Singer has exposure to about 33.6 million Anglo American shares through derivatives, according to a UK regulatory filing on Friday. Anglo American, a listed British mining company, is receiving a takeover approach. The company is said to have increased its stake by 2.5% in recent months, making it one of Anglo American's 10 largest shareholders. Anglo American shares rose as much as 6.3% in London after the Bloomberg News report. BHP values its smaller rival at $38.9 billion and is proposing a takeover that would create the world's top copper producer. Anglo American said the proposal significantly undervalued the company.
