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  Reuters

  Nvidia hits $2 trillion valuation as AI frenzy grips Wall Street

  Nvidia hit $2 trillion in market value on Friday, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom. Its rapid ascent in the past year has led analysts to draw parallels to the picks and shovels providers during the gold rush of 1800s as Nvidia's chips are used by almost all generative AI players from chatGPT-maker OpenAI to Google.

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  The Wall Street Journal

  The Meteoric Rise of Nvidia, in Five Charts

  Nvidia added more than $276 billion in market value Thursday, more than any company has in a single day. Driven by explosive sales and profit growth that have made the firm the poster child for a coming boom in artificial-intelligence technology, Nvidia has risen to become the third-most-valuable U.S. company, with its market value touching $2 trillion on Friday. Nvidia late Wednesday reported earnings that surged more than eightfold and quarterly sales that more than tripled from a year earlier, growth that stands out even among the so-called Magnificent Seven group of tech titans.

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  Bloomberg

  Warner Bros. Falls On TV Advertising Woes, Studio Weakness

  (Bloomberg) -- Warner Bros. Discovery Inc. shares fell as much as 13.3%, the biggest intraday loss since November, after the entertainment giant reported fourth quarter revenue and profits that fell short of Wall Street forecasts amid declining TV advertising sales and weakness at its studios business. Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeUS Lands on Moon in Historic Feat for Private Spacecra

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  Bloomberg

  Oil Declines Within Its Narrow Band as Prices Tread Water

  (Bloomberg) -- Oil declined, but was heading for one of its smallest weekly trading ranges in years, as forecasts for a surplus counter signals of market tightness in the near-term. Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeUS Lands on Moon in Historic Feat for Private SpacecraftAT&T Outage Triggered by Company Work on Network ExpansionUS Unveils Biggest Sanctions Package on Russia Since War Began

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  Bloomberg

  S&P 500 Hits 5,100 Milestone to Extend Winning Run: Markets Wrap

  (Bloomberg) -- The rally in stocks moderated on Friday, but the relatively smaller gains were enough to push the market toward another milestone.Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeUS Lands on Moon in Historic Feat for Private SpacecraftAT&T Outage Triggered by Company Work on Network ExpansionChina’s Central Bank Tries to Catch Markets Off Guard With Surprise EasingA feat of multiple record

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  Bloomberg

  Billionaire Joe Tsai’s Family Office Slashes Blue Owl Stake

  (Bloomberg) -- The investment firm that manages part of the fortune of Alibaba Group Holding Ltd. Chairman Joe Tsai sold most of its shares in the alternative asset giant Blue Owl Capital Inc. during the fourth quarter.Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeUS Lands on Moon in Historic Feat for Private SpacecraftAT&T Outage Triggered by Company Work on Network ExpansionUS Unveils Biggest Sancti