(Reuters) -Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust demand for AI chips and computing infrastructure driven by the artificial intelligence boom.<\/p>\n
Nvidia\u2019s shares jumped nearly 11% over the past month, adding about $500 billion in market value as it became the first company to reach a $5 trillion valuation. Chief Executive Jensen Huang this week announced $500 billion in AI chip orders and plans to build seven supercomputers for the U.S. government.<\/p>\n
Tech shares have risen sharply on optimism over AI\u2019s potential and a series of partnerships and deals with major global companies, including OpenAI, Oracle, Nokia and drugmaker Eli Lilly.<\/p>\n
Microsoft and Apple also reached $4 trillion market valuations by end-October, just over three months after Nvidia\u2019s surge to that level in July.<\/p>\n
Microsoft reported record capital spending of nearly $35 billion for its fiscal first quarter on Wednesday and said it expects investments to rise further this year<\/p>\n
Broadcom gained 17% over the past month to reach a $1.82 trillion valuation, while TSMC added 15% to $1.28 trillion and Alphabet climbed 13% to $3.32 trillion.<\/p>\n
The market value-to-capital expenditure ratio for semiconductor firms stood at 75.1, the highest among all global sectors, suggesting investors expect strong returns from the heavy AI-related spending by chipmakers.<\/p>\n
The market values of Berkshire Hathaway, JPMorgan Chase and Tencent Holdings fell 5.4%, 3.1% and 2.5% over the past month to $1.03 trillion, $840 billion and $760 billion, respectively.<\/p>\n
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru. Editing by Mark Potter)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust…\n","protected":false},"author":2,"featured_media":112347,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,68142,219,61,60,14742,66067,44551,80],"class_list":{"0":"post-112346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificial-intelligence-boom","11":"tag-artificialintelligence","12":"tag-ie","13":"tag-ireland","14":"tag-jensen-huang","15":"tag-market-value","16":"tag-robust-demand","17":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/112346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=112346"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/112346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/112347"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=112346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=112346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=112346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}