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    Microsoft hopes people won’t become ‘over-reliant’ on its AI assistant

    Microsoft hopes people won’t become ‘over-reliant’ on its AI assistant

    Apple’s new FineWoven iPhone cases are very bad

    Apple’s new FineWoven iPhone cases are very bad

    You can now apply for a refund from Epic Games’ Fortnite FTC settlement

    You can now apply for a refund from Epic Games’ Fortnite FTC settlement

    Best laptop 2023: 15 best laptops to buy in 2023

    Best laptop 2023: 15 best laptops to buy in 2023

    Apple continues to use our own mortality as marketing

    Apple continues to use our own mortality as marketing

    OnePlus’ next tablet is a budget model called the OnePlus Pad Go

    OnePlus’ next tablet is a budget model called the OnePlus Pad Go

    Google to pay California $93 million over location-tracking claims

    Google to pay California $93 million over location-tracking claims

    Unity cancels town hall over reported death threats

    Unity cancels town hall over reported death threats

    iPhone 15, Plus, Pro, and Pro Max: price and how to buy

    iPhone 15, Plus, Pro, and Pro Max: price and how to buy

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    Farrell at fly-half, Smith at full-back, Ford on bench for England vs Chile

    Farrell at fly-half, Smith at full-back, Ford on bench for England vs Chile

    Lewis: Solheim and Ryder Cups together a 'missed opportunity for golf'

    Lewis: Solheim and Ryder Cups together a 'missed opportunity for golf'

    Maguire plays down Solheim pressure | Pettersen: Europe know the plan!

    Maguire plays down Solheim pressure | Pettersen: Europe know the plan!

    Team Europe to make history? Why you shouldn't miss the Solheim Cup

    Team Europe to make history? Why you shouldn't miss the Solheim Cup

    Brook named in England's final World Cup squad as Roy misses out

    Brook named in England's final World Cup squad as Roy misses out

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    Åberg opens up two-shot lead in BMW PGA Championship

    Ludlam selected over Vunipola to start for England against Japan

    Ludlam selected over Vunipola to start for England against Japan

    Hamilton: Marko remarks 'unacceptable' | Perez: He apologised to me

    Hamilton: Marko remarks 'unacceptable' | Perez: He apologised to me

    Richarlison to seek psychologist's help amid goal drought

    Richarlison to seek psychologist's help amid goal drought

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    Meter error left retiree paying neighbour’s £400 a month energy bills for six years | Personal Finance | Finance

    Meter error left retiree paying neighbour’s £400 a month energy bills for six years | Personal Finance | Finance

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    Dates confirmed for £300 cost of living payment in just over a month | Personal Finance | Finance

    Amazon’s Prime Big Deal Days explained: What to know about the next big savings event | Personal Finance | Finance

    Amazon’s Prime Big Deal Days explained: What to know about the next big savings event | Personal Finance | Finance

    Martin Lewis discusses new electricity supplier with tariff at 13% below price cap | Personal Finance | Finance

    Martin Lewis discusses new electricity supplier with tariff at 13% below price cap | Personal Finance | Finance

    Sunak warned over triple lock threat as PM accused of ‘policies that ensure defeat’ | Politics | News

    Sunak warned over triple lock threat as PM accused of ‘policies that ensure defeat’ | Politics | News

    Mark Drakeford slammed for 20mpg ULEZ-style zones over tourist industry fears | Politics | News

    Mark Drakeford slammed for 20mpg ULEZ-style zones over tourist industry fears | Politics | News

    ‘We sold our house to travel as living costs soared – now we save £2,000 a month’ | Personal Finance | Finance

    ‘We sold our house to travel as living costs soared – now we save £2,000 a month’ | Personal Finance | Finance

    Side hustles: Woman earns up to £81,000 a month from ‘easy’ Etsy side hustle’ | Personal Finance | Finance

    Side hustles: Woman earns up to £81,000 a month from ‘easy’ Etsy side hustle’ | Personal Finance | Finance

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    Christmas shopping: Millions of Brits have already started buying gifts and food | Personal Finance | Finance

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    John Bercow joins the cast of The Traitors US – alongside boxer Deontay Wilder and Love Island’s Ekin-Su | Ents & Arts News

    John Bercow joins the cast of The Traitors US – alongside boxer Deontay Wilder and Love Island’s Ekin-Su | Ents & Arts News

    Liam Gallagher adopts dog rescued in Thailand after application shocks sanctuary | Ents & Arts News

    Liam Gallagher adopts dog rescued in Thailand after application shocks sanctuary | Ents & Arts News

    Russell Brand allegations: Big Brother boss who worked with comedian at Channel 4 says allegations are ‘depressing’ | Ents & Arts News

    Dr Uchenna Okoye: TV dentist who appeared on This Morning and 10 Years Younger dies aged 53 | UK News

    Dr Uchenna Okoye: TV dentist who appeared on This Morning and 10 Years Younger dies aged 53 | UK News

    Major rail disruption hits Radio 2 In The Park concertgoers in Leicester | UK News

    Major rail disruption hits Radio 2 In The Park concertgoers in Leicester | UK News

    Russell Brand plays comedy show after rape and sexual assault allegations | Ents & Arts News

    Russell Brand plays comedy show after rape and sexual assault allegations | Ents & Arts News

    Drew Barrymore apologises for bringing talk show back during Hollywood writers strike | Ents & Arts News

    Drew Barrymore apologises for bringing talk show back during Hollywood writers strike | Ents & Arts News

    Writers’ strike: UK film and TV workers forced to put homes up for sale due to US action | Ents & Arts News

    Writers’ strike: UK film and TV workers forced to put homes up for sale due to US action | Ents & Arts News

    Rick Stein: Celebrity chef blames rising costs for £2 charge of condiments at fish and chip restaurant | Ents & Arts News

    Rick Stein: Celebrity chef blames rising costs for £2 charge of condiments at fish and chip restaurant | Ents & Arts News

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    Queen Camilla and Brigitte Macron play table tennis

    Queen Camilla and Brigitte Macron play table tennis

    Donald Trump: Hackers claim ex-President dead on son's X account

    Donald Trump: Hackers claim ex-President dead on son's X account

    Libya flood: Derna mayor's house burnt down in protests

    Libya flood: Derna mayor's house burnt down in protests

    China sends top envoy Wang Yi to Russia for security talks

    China sends top envoy Wang Yi to Russia for security talks

    Khartoum: Fire guts landmark skyscraper

    Khartoum: Fire guts landmark skyscraper

    Lampedusa: Newborn baby dies on Italy migrant boat

    Lampedusa: Newborn baby dies on Italy migrant boat

    Wagner group formally banned as terror organisation in the UK

    Wagner group formally banned as terror organisation in the UK

    North Korea's Kim Jong Un to stay in Russia for several days

    North Korea's Kim Jong Un to stay in Russia for several days

    Vietnam fire: 56 dead and dozens injured in Hanoi apartment blaze

    Vietnam fire: 56 dead and dozens injured in Hanoi apartment blaze

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  • Technology
    Microsoft hopes people won’t become ‘over-reliant’ on its AI assistant

    Microsoft hopes people won’t become ‘over-reliant’ on its AI assistant

    Apple’s new FineWoven iPhone cases are very bad

    Apple’s new FineWoven iPhone cases are very bad

    You can now apply for a refund from Epic Games’ Fortnite FTC settlement

    You can now apply for a refund from Epic Games’ Fortnite FTC settlement

    Best laptop 2023: 15 best laptops to buy in 2023

    Best laptop 2023: 15 best laptops to buy in 2023

    Apple continues to use our own mortality as marketing

    Apple continues to use our own mortality as marketing

    OnePlus’ next tablet is a budget model called the OnePlus Pad Go

    OnePlus’ next tablet is a budget model called the OnePlus Pad Go

    Google to pay California $93 million over location-tracking claims

    Google to pay California $93 million over location-tracking claims

    Unity cancels town hall over reported death threats

    Unity cancels town hall over reported death threats

    iPhone 15, Plus, Pro, and Pro Max: price and how to buy

    iPhone 15, Plus, Pro, and Pro Max: price and how to buy

  • Architecture
    Farrell at fly-half, Smith at full-back, Ford on bench for England vs Chile

    Farrell at fly-half, Smith at full-back, Ford on bench for England vs Chile

    Lewis: Solheim and Ryder Cups together a 'missed opportunity for golf'

    Lewis: Solheim and Ryder Cups together a 'missed opportunity for golf'

    Maguire plays down Solheim pressure | Pettersen: Europe know the plan!

    Maguire plays down Solheim pressure | Pettersen: Europe know the plan!

    Team Europe to make history? Why you shouldn't miss the Solheim Cup

    Team Europe to make history? Why you shouldn't miss the Solheim Cup

    Brook named in England's final World Cup squad as Roy misses out

    Brook named in England's final World Cup squad as Roy misses out

    Åberg opens up two-shot lead in BMW PGA Championship

    Åberg opens up two-shot lead in BMW PGA Championship

    Ludlam selected over Vunipola to start for England against Japan

    Ludlam selected over Vunipola to start for England against Japan

    Hamilton: Marko remarks 'unacceptable' | Perez: He apologised to me

    Hamilton: Marko remarks 'unacceptable' | Perez: He apologised to me

    Richarlison to seek psychologist's help amid goal drought

    Richarlison to seek psychologist's help amid goal drought

  • Business
    Meter error left retiree paying neighbour’s £400 a month energy bills for six years | Personal Finance | Finance

    Meter error left retiree paying neighbour’s £400 a month energy bills for six years | Personal Finance | Finance

    Dates confirmed for £300 cost of living payment in just over a month | Personal Finance | Finance

    Dates confirmed for £300 cost of living payment in just over a month | Personal Finance | Finance

    Amazon’s Prime Big Deal Days explained: What to know about the next big savings event | Personal Finance | Finance

    Amazon’s Prime Big Deal Days explained: What to know about the next big savings event | Personal Finance | Finance

    Martin Lewis discusses new electricity supplier with tariff at 13% below price cap | Personal Finance | Finance

    Martin Lewis discusses new electricity supplier with tariff at 13% below price cap | Personal Finance | Finance

    Sunak warned over triple lock threat as PM accused of ‘policies that ensure defeat’ | Politics | News

    Sunak warned over triple lock threat as PM accused of ‘policies that ensure defeat’ | Politics | News

    Mark Drakeford slammed for 20mpg ULEZ-style zones over tourist industry fears | Politics | News

    Mark Drakeford slammed for 20mpg ULEZ-style zones over tourist industry fears | Politics | News

    ‘We sold our house to travel as living costs soared – now we save £2,000 a month’ | Personal Finance | Finance

    ‘We sold our house to travel as living costs soared – now we save £2,000 a month’ | Personal Finance | Finance

    Side hustles: Woman earns up to £81,000 a month from ‘easy’ Etsy side hustle’ | Personal Finance | Finance

    Side hustles: Woman earns up to £81,000 a month from ‘easy’ Etsy side hustle’ | Personal Finance | Finance

    Christmas shopping: Millions of Brits have already started buying gifts and food | Personal Finance | Finance

    Christmas shopping: Millions of Brits have already started buying gifts and food | Personal Finance | Finance

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    John Bercow joins the cast of The Traitors US – alongside boxer Deontay Wilder and Love Island’s Ekin-Su | Ents & Arts News

    John Bercow joins the cast of The Traitors US – alongside boxer Deontay Wilder and Love Island’s Ekin-Su | Ents & Arts News

    Liam Gallagher adopts dog rescued in Thailand after application shocks sanctuary | Ents & Arts News

    Liam Gallagher adopts dog rescued in Thailand after application shocks sanctuary | Ents & Arts News

    Russell Brand allegations: Big Brother boss who worked with comedian at Channel 4 says allegations are ‘depressing’ | Ents & Arts News

    Dr Uchenna Okoye: TV dentist who appeared on This Morning and 10 Years Younger dies aged 53 | UK News

    Dr Uchenna Okoye: TV dentist who appeared on This Morning and 10 Years Younger dies aged 53 | UK News

    Major rail disruption hits Radio 2 In The Park concertgoers in Leicester | UK News

    Major rail disruption hits Radio 2 In The Park concertgoers in Leicester | UK News

    Russell Brand plays comedy show after rape and sexual assault allegations | Ents & Arts News

    Russell Brand plays comedy show after rape and sexual assault allegations | Ents & Arts News

    Drew Barrymore apologises for bringing talk show back during Hollywood writers strike | Ents & Arts News

    Drew Barrymore apologises for bringing talk show back during Hollywood writers strike | Ents & Arts News

    Writers’ strike: UK film and TV workers forced to put homes up for sale due to US action | Ents & Arts News

    Writers’ strike: UK film and TV workers forced to put homes up for sale due to US action | Ents & Arts News

    Rick Stein: Celebrity chef blames rising costs for £2 charge of condiments at fish and chip restaurant | Ents & Arts News

    Rick Stein: Celebrity chef blames rising costs for £2 charge of condiments at fish and chip restaurant | Ents & Arts News

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    Queen Camilla and Brigitte Macron play table tennis

    Queen Camilla and Brigitte Macron play table tennis

    Donald Trump: Hackers claim ex-President dead on son's X account

    Donald Trump: Hackers claim ex-President dead on son's X account

    Libya flood: Derna mayor's house burnt down in protests

    Libya flood: Derna mayor's house burnt down in protests

    China sends top envoy Wang Yi to Russia for security talks

    China sends top envoy Wang Yi to Russia for security talks

    Khartoum: Fire guts landmark skyscraper

    Khartoum: Fire guts landmark skyscraper

    Lampedusa: Newborn baby dies on Italy migrant boat

    Lampedusa: Newborn baby dies on Italy migrant boat

    Wagner group formally banned as terror organisation in the UK

    Wagner group formally banned as terror organisation in the UK

    North Korea's Kim Jong Un to stay in Russia for several days

    North Korea's Kim Jong Un to stay in Russia for several days

    Vietnam fire: 56 dead and dozens injured in Hanoi apartment blaze

    Vietnam fire: 56 dead and dozens injured in Hanoi apartment blaze

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$1trillion meltdown: Is the ‘most important company to civilisation’ about to crash? | Personal Finance | Finance

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$1trillion meltdown: Is the ‘most important company to civilisation’ about to crash? | Personal Finance | Finance
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Last year was tough for stock markets with Wall Street crashing 20 percent and many expected further misery in 2023. Instead, US shares have rocketed, led by the country’s booming tech sector and one company in particular.

There has been massive hype over generative AI following the success of the OpenAI’s ChatGPT site. Analysts claim robots will transform the economy, making businesses more efficient with the small downside of potentially destroying millions of jobs.

The excitement has put a rocket under silicon chip maker Nvidia whose shares have soared a stunning 230 percent this year.

Its total market capitalisation has more than tripled to $1.14trillion, making it a member of the coveted $1trillion club of companies along with tech titans Apple, Amazon, Google and Microsoft.

The Californian company designs crucial infrastructure for AI, such as graphics processing units (GPUs) and application programming interface (APIs).

Last week, it said it had doubled quarterly sales to $13.5billion, smashing through analyst forecasts of $11.2billion. The next quarter could be even better as Nvidia expects revenues to hit $16billion.

Profits have grown 843 percent in a year, from $656million to $6.2billion.

It’s a stunning pace of growth.

Equity analyst Angelo Zino at CFRA has called Nvidia the “most important company to civilisation” because soon every enterprise will rely on the chipmaker, either directly or indirectly.

Many investors will be kicking themselves for missing out but they should approach the stock with caution as there’s a danger that the hype over AI has outstripped the reality.

Instead of soaring even higher after last week’s staggering results, Nvidia’s stock actually dropped two percent.

Over the last five trading days, it is down 6.60 percent.

Wall Street traders are increasingly shorting Nvidia stock by placing bets that it will crash.

AXS Investments has launched a fund devoted to taking short positions against Nvidia, and attracted a whopping $100million so far.

Emma-Lou Montgomery at asset Manager Fidelity International says the Nvidia story may sound familiar to those who remember the dot-com boom at the end of the 1990s.

Back then, investors were getting steamed up about Cisco Systems, which was being touted as the crucial infrastructure provider for the internet revolution. “Whatever the internet became, we were told it would use Cisco switches and routers to become it.”

When tech stocks crashed in March 2000, Cisco’s share price plummeted from a peak of almost $80 to just $10 in a couple of years.

More than two decades later it still hasn’t fully recovered, trading at around $55.

READ MORE: Pension and Isa crash alert as just seven ‘overhyped’ AI stocks prop up market

Lou-Montgomery says the same could happen to Nvidia. Its share price is now valued at 250 times earnings, which is 10 times the average stock valuation on the S&P 500 of just 25 times earnings.

In other words, it’s incredibly expensive.

Nvidia still has a brilliant opportunity to grow. Amazon, Microsoft and Google, which operate the giant cloud computing data centres used by AI, are placing huge orders for its chips.

So is China, but if the US authorities impose further tech export bans to the country, that source of income could dry up overnight.

Right now, nobody knows where the Nvidia share price will go next. It may be the most important company in the world, but increasingly, its shares are also among the riskiest.

AI hype has been a rare positive for investors, as inflation and rising interest rates put the global economy on the brink of recession.

If Nvidia’s shares do crash the US tech sector will follow, as will stock markets all over the world. The frenzy over AI has gone too far and we may now be in bubble territory. The old investment rule applies. Don’t believe the hype.



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