Market Cap

Salesforce’s stock has significantly underperformed compared to Oracle, reversing their pandemic-era market cap crossover. Investors await Salesforce’s quarterly results amid slowing growth in its core CRM market. AI presents both a challenge and an opportunity, with Salesforce launching Agentforce, an AI-powered customer support system. Analysts are watching improvements in remaining performance obligations and the impact of the Informatica acquisition. Activist investors remain engaged, seeking further improvements in profitability. Oracle, meanwhile, benefits from cloud infrastructure commitments related to AI.

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.