Nvidia Outstrips Alphabet as Third Largest US Company by Market Value

A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. (Reuters)
A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. (Reuters)
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Nvidia Outstrips Alphabet as Third Largest US Company by Market Value

A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. (Reuters)
A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. (Reuters)

Nvidia overtook Google-parent Alphabet's stock market capitalization to become the third biggest US company on Wednesday, days before the poster child of AI boom is due to report fourth-quarter results.

Strong demand for the Silicon Valley company's chips used in artificial intelligence computing has powered the stock 231% in the past 12 months to record highs, taking its market value to $1.83 trillion.

In comparison, Alphabet's market capitalization is $1.82 trillion.

A 50% surge this year has lifted Nvidia to the top spot among the S&P 500 components stock performance, surpassing even the components of Magnificent Seven.

Earlier this week, it exceeded Amazon.com's market value, leaving the retail giant in the fifth spot. Microsoft overtook Apple last month to become the largest US company.

Wall Street expects Nvidia to post $11.38 billion in fourth-quarter profit, up more than a staggering 400% from a year ago. Its revenue is expected to surge over three-fold to $20.37 billion.

Nvidia now trades 33.19 times its forward earnings estimates, above the industry median multiple of 27.35, per LSEG data.

A higher multiple indicates the stock is more likely to have priced in its earnings potential, leaving little room for further growth.



Impostor Uses AI to Impersonate Rubio and Contact Foreign and US Officials

Secretary of State Marco Rubio attends a signing ceremony for a peace agreement between Rwanda and the Democratic Republic of the Congo at the State Department, June 27, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)
Secretary of State Marco Rubio attends a signing ceremony for a peace agreement between Rwanda and the Democratic Republic of the Congo at the State Department, June 27, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)
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Impostor Uses AI to Impersonate Rubio and Contact Foreign and US Officials

Secretary of State Marco Rubio attends a signing ceremony for a peace agreement between Rwanda and the Democratic Republic of the Congo at the State Department, June 27, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)
Secretary of State Marco Rubio attends a signing ceremony for a peace agreement between Rwanda and the Democratic Republic of the Congo at the State Department, June 27, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)

The State Department is warning US diplomats of attempts to impersonate Secretary of State Marco Rubio and possibly other officials using technology driven by artificial intelligence, according to two senior officials and a cable sent last week to all embassies and consulates.

The warning came after the department discovered that an impostor posing as Rubio had attempted to reach out to at least three foreign ministers, a US senator and a governor, according to the July 3 cable, which was first reported by The Washington Post.

The recipients of the scam messages, which were sent by text, Signal and voice mail, were not identified in the cable, a copy of which was shared with The Associated Press.

“The State Department is aware of this incident and is currently investigating the matter,” it said. “The department takes seriously its responsibility to safeguard its information and continuously takes steps to improve the department’s cybersecurity posture to prevent future incidents.”

It declined to comment further due to “security reasons” and the ongoing investigation.

One of the officials said the hoaxes had been unsuccessful and “not very sophisticated.” Nonetheless, the second official said the department deemed it “prudent” to advise all employees and foreign governments, particularly as efforts by foreign actors to compromise information security increase.

The officials were not authorized to discuss the matter publicly and spoke on condition of anonymity.

“There is no direct cyber threat to the department from this campaign, but information shared with a third party could be exposed if targeted individuals are compromised,” the cable said.

The FBI warned in a public service announcement this past spring of a “malicious text and voice messaging campaign” in which unidentified “malicious actors” have been impersonating senior US government officials.

The scheme, according to the FBI, has relied on text messages and AI-generated voice messages that purport to come from a senior US official and that aim to dupe other government officials as well as the victim’s associates and contacts.

It is the second high-level Trump administration official to face such AI-driven impersonation.

The government was investigating after elected officials, business executives and other prominent figures received messages from someone impersonating President Donald Trump’s chief of staff, Susie Wiles. Text messages and phone calls went out from someone who seemed to have gained access to the contacts in Wiles’ personal cellphone, The Wall Street Journal reported in May.

Some of those who received calls heard a voice that sounded like Wiles, which may have been generated by artificial intelligence, according to the newspaper. The messages and calls were not coming from Wiles’ number, the report said.