Nvidia tops $US4tr, Bitcoin record, Origin a big winner for Nine
Published: July 10, 2025
Nvidia tops $US4tr, Bitcoin record, Origin a big winner for Nine
News in brief
Universities and arts bodies will lose government funding if they fail to combat antisemitic bigotry from staff, students and artists, as part of a new federal strategy to combat the wave of attacks against Jewish Australians.
The private equity owners of some of Australia’s oldest and best-known magazine brands – The Australian Women’s Weekly, Better Homes and Gardens, New Idea and Woman’s Day – have put the titles up for sale.
An investigation by anti-corruption barrister Geoffrey Watson SC has found the CFMEU in Queensland deliberately inflicted physical, sexual, emotional and economic abuse on others from Labor politicians to public servants and rival unionists, including women and children.
The rugby league state-of-origin between Queensland and NSW resulted in a win for the Sunshine State, and also for Nine Networks’ streaming service, 9Now. The game had an average national TV audience of more than 3.9 million people, the most-watched program of 2025, and the biggest streaming audience in history.
Europe’s top human rights court has delivered damning judgments against Russia in four cases brought by Kyiv and the Netherlands accusing Moscow of atrocities in Ukraine dating back more than a decade, including the shooting down of Malaysia Airlines Flight 17 in 2014.
Fear-o-meter
There isn’t much logic in the performance of many financial assets right now. Bitcoin, a risk asset, is trading around record levels. Chipmaker Nvidia, despite the global trade war and threats of cheaper AI models such as DeepSeek, is now worth $US4 trillion ($6.1 trillion).
Equity markets around the world are sitting close to record highs. The S&P/ASX200 closed only points off its record yesterday. Wall Street, the FTSE100 in London, European markets and even the Nikkei are near highs.
Yet there is a global trade war going on. The US is implementing tariffs on nations – tariffs that will hit consumption and lower global economic growth. If companies decide to take the hit, rather than consumers, then that’s bad for economic growth as well.
Even with the prospects of lower interest rates, a tariff and trade war doesn’t create the environment for record equity markets. But that is what is occurring. It might not happen in the next week of month, but a correction does make economic sense.
Who's talking today?
"There are two types of CEOs."
It is Friday the 11th of July 2025 and the last 24 hours have been full of records in financial markets. On Wall Street, Nvidia became the first company ever to be valued at over $US4 trillion. In crypto markets, Bitcoin reached a new high, despite the global economic uncertainty. And locally, one of the best performing stocks of the last year, imaging group Pro Medicus, hits another record, forcing its way into the largest 20 stocks for the first time.
Greed-o-meter
| Company | Value (US$ billions) |
|---|---|
| Nvidia | 3,974 |
| Microsoft | 3,742 |
| Apple | 3,154 |
| Amazon | 2,363 |
| Alphabet | 2,149 |
| Meta | 1,842 |
| Broadcom | 1,307 |
| Berkshire Hathaway | 1,034 |
| Tesla | 953 |
| JP Morgan Chase | 787 |
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Source: Market Index