Nasdaq Soars as Nvidia Smashes Records: First to $4T Valuation in Tech’s High-Stakes Race

Nvidia just lapped every tech giant in history—hitting a $4 trillion market cap while others were still polishing their AI PowerPoints.

The Nasdaq's rocket-fueled rally

Thanks to Nvidia's chip dominance, the tech-heavy index left the S&P 500 eating silicon dust. No surprise—Wall Street's new mantra is 'In Jensen We Trust.'

Silicon Valley's new arms race

GPUs are the new oil, and Nvidia's drilling all the gushers. Competitors? Still fracking shale.

Meanwhile in finance land...

Analysts who called this a 'bubble' in 2023 are now writing 'Why We Were Wrong' thinkpieces—between yacht-shopping trips.

The closer: When the history of this era gets written, it'll be in Nvidia-green ink. Just don't ask what happens when the music stops.

Still, the broader tech rally was tempered by growing concern over U.S. trade policy. President Donald TRUMP issued a new wave of tariff threats against several U.S. trade partners, including the Philippines, Iraq, Moldova, and Algeria. The proposed tariffs range from 20% to 30%.

Trump issued tariff threats to 20 countries this week

These four nations are among 20 countries that received tariff warnings in the week beginning July 7. The tariffs are scheduled to take effect on August 1, unless bilateral trade agreements are reached beforehand.

Previously, Trump had extended the original tariff enforcement deadline from July 9 to August 1. Markets are now weighing whether these aggressive trade measures are a negotiating tactic or a signal of a broader shift in the administration’s trade policy. If implemented, the tariffs could have significant short-term impacts on global growth and potentially fuel inflation.