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Nvidia Surpasses Apple as World’s Most Valuable Company Amid AI Demand Surge!

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 Nvidia briefly overtook Apple as the world’s most valuable company, marking a significant milestone in the company’s impressive rise, fueled by unprecedented demand for its AI-centric chips. Nvidia’s market value touched a remarkable $3.53 trillion, edging past Apple’s $3.52 trillion, according to LSEG data.

Market Dynamics and Valuation Changes

Although Nvidia’s valuation eventually settled at $3.52 trillion with a 2.2% increase, Apple’s stocks rose slightly by 0.9%, pushing its market cap to $3.54 trillion. This brief shift highlights a growing trend in technology valuations, with Nvidia, Apple, and Microsoft—the latter valued at $3.2 trillion—trading closely on the market leaderboards in recent months.

Nvidia’s Competitive Edge

Nvidia’s success stems from its position as the leading provider of processors essential to AI computing, making it the frontrunner in a competitive field alongside tech giants like Microsoft, Google, and Meta. Nvidia’s stock has soared 18% in October alone, spurred by recent funding announcements such as OpenAI’s $6.6 billion round. Additionally, semiconductor stocks, including Nvidia, received a boost from Western Digital’s better-than-expected quarterly profit, signaling strong data center demand.

“Many companies are embracing AI across everyday operations, driving sustained demand for Nvidia chips,” said Russ Mould, Investment Director at AJ Bell. “Nvidia’s focus on AI technology places it in a strong position for ongoing investment, barring any significant U.S. economic downturn.”

AI Market Position and Future Growth

Nvidia’s AI chips have helped it secure the “sweet spot” in a booming AI market, further strengthened by TSMC’s recent earnings report, which highlighted a 54% rise in quarterly profit driven by demand for AI chips. Nvidia’s stock also hit a record high on Tuesday, building on a strong showing last week as its options remained among the most traded on the market.

Challenges for Apple

While Nvidia excels, Apple has faced challenges in key markets. For instance, there was a 0.3% drop in iPhone sales in China during Q3, contrasting sharply with a 42% surge in sales by competitor Huawei. With Apple’s earnings report scheduled for Thursday, analysts predict a 5.55% year-on-year revenue increase to $94.5 billion, which stands in stark contrast to Nvidia’s projected 82% growth to $32.9 billion.

Influence on the S&P 500

Together, Nvidia, Apple, and Microsoft represent about a fifth of the S&P 500 index, underscoring their influence on the tech-heavy U.S. stock market. Optimism about the prospects for AI and expectations of a Federal Reserve interest rate cut have buoyed the S&P 500, which hit an all-time high last week.

Trading Trends

Nvidia’s valuation rise has been supported by strong interest from option traders; options analytics provider Trade Alert reported that Nvidia options are among the most actively traded on any given day recently.

Year-to-Date Performance

Nvidia’s gains have driven its shares up almost 190% year-to-date, benefiting from the generative AI wave and a series of strong forecasts.

“The key question is whether Nvidia’s revenue growth will sustain beyond short-term investor sentiment,” commented Rick Meckler, Partner at Cherry Lane Investments.

Conclusion

For now, Nvidia’s strong market position and robust demand for AI technology suggest its prominence in the industry is set to continue, though competition and market shifts will undoubtedly shape the sector’s future. As both companies navigate their respective challenges and opportunities within the rapidly evolving tech landscape, investors will be closely watching how these dynamics unfold in the coming months.

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Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

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Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

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Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

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Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

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Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

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Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

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