Nvidia disclosed investments made in several emerging AI companies. (Justin Sullivan via Getty Images)

Nvidia (NVDA)

Nvidia stock reversed falls seen on Thursday trade in premarket on Friday after it disclosed investments made in several emerging AI companies. This sparked rallies across those involved in the deal, including: Soundhound (SOUN), Arm (ARM), and Nanox (NNOX).

Read more: FTSE 100 LIVE: European markets higher as UK retail sales recover

Nvidia shares areup nearly 50% since the start of 2024 and more than 220% in the past year. The company's market cap recently surpassed that of Amazon (AMZN) and Alphabet (GOOG, GOOGL). Only Microsoft (MSFT) and Apple (AAPL) now have a higher valuation than Nvidia.

Nike (NIKE)

Nike stock was around 0.7% lower in premarket trade on Friday following an announcement that it is set to cut its workforce by around 2%, or 1,600 jobs. The cuts are designed to offset costs after weaker profits this year.

The sportswear brand is just one of many consumer goods companies that have warned of softer earnings in 2024 amid cost of living pressures and inflation.

Read more: Stocks that are trending today

At the end of last year, Nike said it would look to make around $2bn (£1.59bn) in savings over three years.

Coinbase (COIN)

Crypto exchange Coinbase saw its stock surge around 12% in premarket as it posted its first quarterly profit in two years. This built on 3.3% gains from Thursday.

Read more: Bitcoin ETFs poised for US pension plan inflows, Standard Chartered analyst says

This came off the back of a surge in trading on a new wave of optimism about digital assets, marking a potential turning point for the largest US cryptocurrency exchange.

Eni (ENI.MI)

Energy provider Eni saw its stock slip 1.9% by mid-morning on Friday after it said its earnings had fallen in the fourth quarter on the back of decreasing oil and gas prices and slowing demand in its chemicals business.

Its operating profit was down, according to a company report, with net profit falling to €149m (£127.5m/$160m) from €627m in in Q4.



Watch: Beyond the Ticker: NvidiaNVDA) is officially one of the tech giants. In 2023, the company generated nearly $27 billion in revenue, and its market value is well over $1 trillion.
\n
Let's take a closer look at what led to Nvidia's boom with Beyond the Ticker, where we dive into the company's biggest moments.
\n
1993
\n
Nvidia was founded on April 5, 1993, by Jensen Huang, Chris Malachowsky, and Curtis Priem, with a vision to bring 3D graphics to the gaming industry.
\n
1997
\n
Nvidia launched its first hit product, the NV3. It would later go on to sell a whopping 1 million units in its first four months of availability.
\n
1999
\n
On January 22, 1999, Nvidia went public via IPO at $12 per share.
\n
2000
\n
Microsoft (MSFT) chose Nvidia to develop the graphics hardware for the first Xbox console.
\n
2005
\n
Microsoft rival Sony (SONY) chose Nvidia’s hardware to power the PlayStation 3.
\n
2010
\n
Nvidia became the graphics chip supplier for automaker Audi.
\n
2015
\n
The company launched its Nvidia Drive chip for powering driver assistance systems.
\n
2016
\n
Nvidia kicked off its AI efforts with the launch of its DGX-1 server for artificial intelligence applications.
\n
2018
\n
The company debuted the NVIDIA RTX, the first GPU capable of real-time ray tracing.
\n
That same year, Google (GOOG, GOOGL) announced it was using Nvidia’s Tesla (TSLA) P4 graphics cards for its Google Cloud Platform.
\n
2022
\n
Nvidia debuted its H100 graphics chip for AI, which still stands as one of the world’s most powerful chips for artificial intelligence apps.
\n
2023
\n
In May 2023, Nvidia eclipsed the $1 trillion market cap mark, joining the ranks of mega companies like Apple (AAPL) and Microsoft.
\n
The stock continues to surpass its all-time highs over the past month and is currently trading at over $700 per share.
\n
From a company of three engineers working on a graphics card, to thousands of employees working on chips that will power the AI supercomputers of the future, Nvidia remains at the top of the tech industry.
\n
From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today.
\n
Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance.
\n
Editor's note: This video was produced by Zach Faulds.","thumbnailUrl":"https://s.yimg.com/uu/api/res/1.2/YkZqSeKYbYpKzvdzqolCqQ--~B/aD0xMDgwO3c9MTkyMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-02/ecd32a00-cc17-11ee-a7bd-8a18b804ab32","duration":"PT2M4S","contentUrl":"https://video.media.yql.yahoo.com/v1/video/sapi/hlsstreams/d57c0bfc-dedf-318f-a290-90da2c7d9910.m3u8?site=finance®ion=GB&lang=en-GB&devtype=desktop&src=sapi","embedUrl":"https://uk.finance.yahoo.com/video/beyond-ticker-nvidia-194913492.html?format=embed","identifier":"d57c0bfc-dedf-318f-a290-90da2c7d9910"}

Download the Yahoo Finance app, available for Apple and Android.