Some stocks could soon face a reality check. Shares in Palantir and Arm Holdings look too expensive compared to company fundamentals. However, while early investors made millions from both companies,

Nvidia and AMD’s participation in xAI’s funding round means they are directly financing a rival to their major customers.

The vast majority of Nvidia’s coveted AI chips were bought by just a handful of the largest tech companies.

The Dow Jones Industrial Average and other major indexes were lower Thursday, as Wall Street awaited weekly unemployment data. An early name to watch on the stock market today is Nvidia, which hit a new buy point Tuesday.

Microsoft bought more than twice as many of Nvidia's flagship chip than any of its biggest rivals like Meta and Google.

Fundstrat's Tom Lee says that Nvidia could grow tenfold over the next decade, potentially reaching $1 trillion in revenue.

"I'm not chip supply constrained," Microsoft CEO Satya Nadella said in a recent interview. Nvidia stock has dropped 7% since the comments.

Nvidia's stock was surging 3.4% in recent trading and has climbed tktktk amid a 3-day win streak amid [broad interest in chips stocks](

This chart features all eight American technology stocks with valuations of $1 trillion or more, and their respective returns in 2024 so far. Buying an exchange-traded fund (ETF) with a high level of exposure to those trillion-dollar market leaders might be a simpler option for investors compared to buying them individually.

Microsoft leads in AI chip purchases from Nvidia, with rivals like Meta and Amazon also investing heavily. Read more.

Microsoft has emerged as the dominant player in the acquisition of Nvidia's Hopper chips. According to estimates from technology consultancy Omdia that were reported in the

Azure faces supply constraints and likely market share loss, and Microsoft's custom AI chip development lags behind competitors. Read why MSFT stock is a Hold.