Breakfast News: NVDA Close To $5T Market Cap

Breakfast News: NVDA Close To $5T Market Cap

October 29, 2025

1. Nvidia Sets New Stock Price Record

Nvidia (NVDA +3.69%) climbed above $205 in overnight trading, setting a new all-time high and pushing its market value close to $5 trillion, after CEO Jensen Huang revealed a range of new partnerships in his keynote at the company's GPU Technology Conference.

• "Putting the weight of the nation behind pro-energy growth": Huang enthused over plans to build 7 new supercomputers with the Department of Energy, including one using 10,000 Blackwell chips. Nvidia is also lining up with Nokia (NOK 3.22%) and others to develop 6G wireless technology. Nokia closed 23% ahead, on news of a $1 billion Nvidia investment.
• "Complement human intelligence by providing speed, precision, and stamina": Gregor Veble Mikić at Joby Aviation (JOBY +6.86%), meanwhile, spoke of a new collaboration to advance its "Superpilot" autonomous flight technology using Nvidia's IGX Thor compute platform. Joby popped 8% in pre-market trading.

2. Tuesday Results from V, BKNG, and ENPH

Hidden Gems recommendation Visa (V 0.94%) was little changed after reporting a 10% fourth-quarter earnings rise as revenue grew 12%, on the back of strong consumer spending. The company stressed technology and global trading as key areas, as it grows its investment in digital services.

• Room nights booked hit 323 million: Booking Holdings (BKNG 0.21%) saw strong demand push Q3 adjusted EPS up 19% after revenue climbed 13%, resulting in the stock lifting around 3% in pre-market trading. The company expects a strong Q4, though investors should keep an eye on costs.
• Shares set to open 8% lower as revenue expected to decline in Q4: Solar energy technologist Enphase Energy (ENPH 13.32%) saw Q3 revenue and earnings rise strongly, mostly down to orders getting in before the end of tax incentives. The company saw a drop in European demand, and reported falling free cash flow.

3. Key Earnings to Watch Today

Today's Mag7 updates from Microsoft (MSFT 0.67%), Alphabet (GOOG +1.04%), and Meta (META 0.48%) look set to dominate the headlines. CVS Health (CVS +0.89%), recently back from the Stock Advisor penalty box, posted record quarterly revenue this morning as Q3 hit $102.9 billion for a 7.8% rise year over year. The stock fell around 3% in pre-market trading despite the company raising full-year EPS guidance to $6.55 to $6.65, from $6.30 to $6.40.

• New CEO to take the helm in the New Year: Rule Breakers rec Etsy (ETSY 6.66%) reported a 6.1% rise in Q3 revenue year over year this morning, as CEO Josh Silverman said the results “surpassed expectations across all three of our key financial metrics.” Silverman will make way for Kruti Patel Goyal to take over the top job in January 2026. The stock dipped around 5% pre-market.
• "Every business process in every industry is being refactored for agentic AI": We're due a Q3 update from ServiceNow (NOW 1.99%) following today's closing bell, after the business automation speciality smashed through Q2 expectations when CEO Bill McDermott said AI is a key driver.

4. Next Up: Rate Cut Expected

The Federal Reserve is expected to cut interest rates again this afternoon as it concludes its latest two-day meeting. Fed officials are in many ways flying blind as the government shutdown means a halt to jobs data. We did at least see September's core Consumer Price Index inflation cooling to 3% year over year, better than feared.

• "The job market is a lagging indicator": Luke Tilley at Wilmington Trust points to falling demand and says there's a risk of further jobs softening, as payroll processor ADP says September payroll employment fell by 32,000.
• 99.9% chance of a cut: The CME FedWatch tool puts expectations for a 0.25 percentage point cut almost unanimous.

5. Your Take

If you were the CEO of Microsoft for a day and you can eliminate one competitor, who do you eliminate and why? Debate with friends and family, or become a member to hear what your fellow Fools are saying!