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Nvidia is worth more than the entire French and British stock markets

Here’s a chart that puts the run-up in the value of Nvidia in perspective. The Santa Clara, Calif., designer of the chips at the core of the AI industry, is now worth than the entirety of the German, French and British stock markets.

Deutsche Bank analyst Jim Reid spotlighted this chart in a client note, writing of Nvidia that “with a market cap of $3.35 trillion, only India, Japan, China and the US itself have entire listed stocks that are collectively bigger.” 

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IREN drops on convertible debt offering

Shares of crypto miner and AI compute provider IREN dropped after the Australia-based, US-listed company said late Tuesday that it would sell $875 million in convertible senior debt.

The announcement came late in the trading day and caused a sell-off in the aftermarket session that continued into Wednesday trading.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

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Tempus AI shares surge to all-time high

Shares of Tempus AI jumped over 7% Wednesday to reach an all-time high of $99.90. Shares of the AI medical diagnostics company are up over 191% for the year so far.

The company has recently announced a flurry of FDA clearances for its technologies. Most recently, on September 22, Tempus AI was granted FDA clearance for its Tempus xR IVD device, which is used to tailor cancer therapies.

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