Meta passes $1 trillion in market cap
Summary
Meta s market cap surpassed $1 trillion during intraday trading Wednesday as the stock popped more than 2% and reached around $396 per share amid a record rally. The companys soaring stock performance comes on the heels of an almost 200% surge last year, when CEO Mark Zuckerberg instituted cost-cutting measures that brought about more than 20,000 job cuts. Last week, Zuckerberg said Meta will obtain 350,000 H100 graphics cards from Nvidia by the years end as well as "almost 600k H100 equivalents of compute if you include other GPUs," indicating the company is spending billions of dollars on its AI endeavors. Microsoft also reached a market cap milestone on Wednesday, surpassing $3 trillion in value nearly two weeks after overtaking Apple as the worlds most valuable public company. Heres how long they typically last • The early winner in the bitcoin ETF race has raked in $1 billion • Goldman Sachs names its top stocks for 2024, including this solar company • CD rates are coming down.