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Nvidia Announces Next-Gen AI Chip, Market Cap Inches Towards $3 Trillion

United States stock futures are on the rise as several major companies and industries make headlines. Nvidia’s next-generation AI chip announcement, GameStop’s surge due to a Keith Gill post, AMD’s new AI chip unveiling, OPEC+ extending output curbs, and a revised takeover bid for Paramount Global by Skydance Media are influencing today’s market, according to Investopedia.

Here’s what investors need to know:

Nvidia Rises as CEO Announces Next-Gen AI Chip for 2026

Nvidia (NVDA) shares are climbing nearly 3 per cent in premarket trading after CEO Jensen Huang revealed that the company’s next-generation AI chip, branded as Rubin, will be released in 2026.

Nvidia, which is close to joining the $3 trillion market cap club, plans to unveil a new family of chips annually, accelerating from its current two-year release cycle.

Speaking at a trade show in Taipei, Huang said the new lineup will include graphics processing units (GPUs), central processing units (CPUs), and networking chips. The next-gen GPUs will feature high-bandwidth memory, a key component for powering advanced AI applications.

This strategic move aims to solidify Nvidia’s leading position in the AI hardware market, providing more frequent and innovative updates to meet the growing demand for AI technologies.

GameStop Soars Following Keith Gill’s Reddit Post

GameStop (GME) shares are experiencing an 80 per cent surge in premarket trading after stock influencer Keith Gill, known as “DeepF—ingValue” on Reddit, posted a screenshot indicating a $100 million position in the company.

The post, showing 5 million shares bought at $21.27 each and 120,000 call options, sparked renewed interest in the video game retailer.

Gill, also known as “Roaring Kitty” on social media platform X, posted an image of a UNO reverse card, hinting at a change in direction for the stock.

Gill’s previous posts had a massive impact on the stock during the 2021 meme stock mania, and his recent activity is once again driving significant market movement.

AMC Entertainment (AMC), another meme stock, is also jumping 26 per cent two hours before the opening bell, influenced by Gill’s actions and the overall bullish sentiment in meme stocks.

AMD Gains on Unveiling of New AI Chip to Challenge Nvidia

Advanced Micro Devices (AMD) shares are up 1.3 per cent in premarket trading after unveiling its latest AI chip, the MI325X accelerator, at the same Taipei trade show where Nvidia announced its Rubin chip. This new chip is set to be available in the fourth quarter, with CEO Lisa Su outlining plans for annual product launches.

AMD’s move aims to challenge Nvidia’s dominance in the AI sector by providing an alternative for AI systems developers. The MI325X is designed to offer high performance and efficiency, catering to the increasing demand for AI processing power. AMD’s strategic focus on AI technologies reflects its commitment to capturing a larger share of this rapidly growing market.

OPEC+ Extends Oil Output Curbs Through Next Year

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, announced an extension of their production curbs through the next year to support oil prices amid weakening demand.

Starting in October, countries including Saudi Arabia, the UAE, Russia, and Iraq will gradually increase oil output in monthly increments through 2025.

The group’s official reductions have been 3.66 million barrels per day for over a year. This move is intended to stabilise the market by preventing oversupply, which could lead to a sharp decline in oil prices. By carefully managing production levels, OPEC+ aims to balance the market and ensure steady revenue for member countries.

Paramount Global Shares Jump on Revised Skydance Media Offer

Paramount Global (PARA) shares are up over 6 per cent following a report from The Wall Street Journal that Skydance Media has made a revised takeover bid. The offer gives nonvoting shareholders an option to cash out at around $15 per share.

The sweetened offer follows pushback from shareholders against a prior bid, which they felt favoured Paramount’s controlling stakeholder, Shari Redstone, over the broader investor base.

Skydance’s new proposal aims to address these concerns by providing a more attractive deal to all shareholders. This move could lead to significant changes in Paramount’s ownership structure and strategic direction, depending on how shareholders respond to the revised bid.

The market is buzzing with activity as key announcements and strategic moves from major companies influence investor sentiment. Nvidia’s ambitious plans for its next-gen AI chip, GameStop’s resurgence driven by a high-profile influencer, AMD’s challenge to Nvidia’s AI dominance, OPEC+’s strategic oil production decisions, and Paramount’s potential takeover all contribute to a dynamic trading environment. Investors will be closely monitoring these developments as they navigate the evolving market landscape.


Samuel Bolaji

Samuel Bolaji holds a Master of Letters in Publishing Studies from the University of Stirling, Scotland, United Kingdom, and a Bachelor of Arts in English from the University of Lagos, Nigeria. He is an experienced researcher, multimedia journalist, writer, and Editor. He is currently the Editor of Arbiterz.

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