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Nvidia Set to Become First US Chipmaker Valued at Over $1 Trillion 

Nvidia's Grace Hopper superchips are displayed at Gigabyte during COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. (Reuters)
Nvidia's Grace Hopper superchips are displayed at Gigabyte during COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. (Reuters)
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Nvidia Set to Become First US Chipmaker Valued at Over $1 Trillion 

Nvidia's Grace Hopper superchips are displayed at Gigabyte during COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. (Reuters)
Nvidia's Grace Hopper superchips are displayed at Gigabyte during COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. (Reuters)

Nvidia Corp was on track on Tuesday to breach $1 trillion in market capitalization for the first time, making it the first US chipmaker to join the trillion-dollar club.

The company's shares were last up 3.8% at $404.17 in premarket trading.

Meta, valued at about $670 billion as of last close, clinched the trillion-dollar market capitalization milestone in 2021, while Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc are the other US companies that are part of the club.

AI took center stage after Nvidia stunned investors with a revenue forecast that surpassed analysts' expectations by more than 50%.

The Philadelphia SE Semiconductor index closed at its highest in over a year last week after Nvidia's stellar results powered other chipmakers higher.

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Technology

China's Baidu Launches Two New AI Models as Industry Competition Heats Up

People walk past a Baidu logo outside the company headquarters in Beijing on February 2, 2024. (AFP)
People walk past a Baidu logo outside the company headquarters in Beijing on February 2, 2024. (AFP)
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China's Baidu Launches Two New AI Models as Industry Competition Heats Up

People walk past a Baidu logo outside the company headquarters in Beijing on February 2, 2024. (AFP)
People walk past a Baidu logo outside the company headquarters in Beijing on February 2, 2024. (AFP)

China's Baidu said on Sunday it has launched two new artificial intelligence models, including a new reasoning-focused model that it said rivalled DeepSeek's model, as it vies to stand out in a fiercely competitive AI race.

Chinese AI startup DeepSeek's roll-out of AI models which it says is on par with, or even better than, industry-leading models in the United States at a fraction of the cost, has roiled the industry and re-energized the global AI race.

"ERNIE X1 delivers performance on par with DeepSeek R1 at only half the price," Baidu said of one of the new models.

The X1 has "stronger understanding, planning, reflection, and evolution capabilities," Baidu said, adding that it is the first deep thinking model that uses tools autonomously.

Baidu said its latest foundation model ERNIE 4.5 has "excellent multimodal understanding ability. It has more advanced language ability, and its understanding, generation, logic, and memory abilities are comprehensively improved."

It also has "high EQ", and it is easy to understand network memes and satirical cartoons, Baidu said.

One of China's earliest tech giants to launch a ChatGPT-style chatbot, Baidu has struggled to gain widespread adoption for its Ernie large language model, despite claiming performance comparable to OpenAI's GPT-4, amid fierce competition.

Multimodal AI systems are capable of processing and integrating various types of data including text, video, images and audio, and can convert content across these formats.