Market Cap

Tencent Music Entertainment (TME) briefly surpassed Baidu in market capitalization, highlighting a market re-evaluation. Investors favor TME’s proven “copyright-to-subscribers-to-revenue” model over Baidu’s AI investments, which await clearer commercial returns. This shift signals changing internet traffic dynamics and investment logic, with TME evolving into a dedicated content provider.

Nvidia’s market cap has reached $3.77 trillion, making it the world’s most valuable company. Loop Capital analyst Ananda Baruah forecasts a $6 trillion market cap, setting a $250 per share price target, driven by the “golden wave” of AI adoption. He projects $2 trillion in spending on AI by 2028, with hyperscale cloud providers shifting to non-CPU computing (50-60% by year-end) and the upcoming Blackwell chip production fueling further growth.