Nvidia passed Apple in market cap on Wednesday, making it the second-most valuable public company, behind Microsoft. Nvidia also hit a $3 trillion market cap milestone on the same day. Given the rise in Nvidia shares, it might seem to be one of the best plays in the AI market. But this investor says to consider “boring” Big Tech companies such as Alphabet and Microsoft instead. These companies have broad revenue streams and use AI to enhance their existing products, instead of relying on the AI narrative to “prop up earnings,” he said. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational […]
The Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting was held in Singapore on Thursday. U.S. President Joe Biden launched the IPEF, involving 14 countries, about two years ago, for economic and trade cooperation among the member states. The IPEF was also seen as a means to counteract China in the region. “This isn’t about China,” said U.S. Commerce Secretary Gina Raimondo, who participated in the meeting. “This is about the United States showing up in the region, investing in the region,” she said. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
Ripple is “likely” to launch a U.S. dollar stablecoin this year, said the company’s president Monica Long. This is to meet the growing demand of people that want to invest in the U.S. dollar, by making the currency more accessible around the world, she said. Also, more institutions are looking at payment methods that use blockchain technology involving a U.S. dollar stablecoin, she said. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
China’s manufacturing Purchasing Managers’ Index (PMI) came in at 51.7 for May, up 0.3 percentage points from 51.4 in April. These numbers show that the Chinese government’s stimulus measures are working, said Ben Harburg, portfolio manager at Core Values Alpha. He also said that China’s economic picture is “better than you think,” as the amount of consumption in the country is not fully reflected in PMI data due to deflation. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
Infrastructure will be a “massive” area for investment in India due to the Modi government’s push to develop the country’s infrastructure, said Nasser Salim, managing director at Flexi Capital. The fast-moving consumer goods industry also looks like it will have a strong performance, as consumption in India picks up due to rising incomes, he said. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
China plays an important role in resolving international crises due to its resources and credibility, said president of Timor-Leste José Ramos-Horta. The U.S. and other Western countries therefore should not view China as a “threat,” he said. He added that a way in which the U.S. can show its sincerity in improving its relationship with China would be to freeze the delivery of weapons to Taiwan or Israel for a while. Subscribe to CNBC International TV: http://cnb.cx/2wAkfMv Subscribe to CNBC International: http://cnb.cx/2gft82z LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
