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Nvidia becomes world’s most valuable company on stock market

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Nvidia edged ahead of other tech companies Tuesday to become the world’s most valuable publicly traded company in the latest sign of the might of artificial intelligence.

The chip company, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative AI, jumped 3.4 percent near 1:25 pm (1725 GMT), giving it a market capitalization of about $3.3 trillion, slightly ahead of Microsoft and Apple.

The California-based company, which is led by Jensen Huang, has seen profits soar due to torrid demand for its powerful GPU chips, which have set the industry’s pace in pushing new advances in AI.

In May, Nvidia reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.

“We believe over the next year the race to $4 trillion market cap in tech will be front and center between Nvidia, Apple, and Microsoft,” said a note earlier this week from Wedbush Securities.

“Nvidia’s GPU chips are in essence the new gold or oil in the tech sector as more enterprises and consumers quickly head down this path with the 4th Industrial Revolution well underway.”

Earlier in February, Nvidia opened new tab hit $2tn in market value for the first time, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom, Reuters reported.

Nvidia

Nvidia, founded in 1993, is a leading technology company renowned for its graphics processing units (GPUs), which dominate both gaming and professional markets under the GeForce and Quadro brands.

The company’s GPUs are crucial in artificial intelligence (AI) and machine learning, with its CUDA platform enabling parallel computing.

Nvidia has expanded into the automotive industry with its Drive platform for autonomous vehicles and into other sectors like healthcare and robotics with the Jetson product line.

Known for significant growth and innovation, Nvidia’s acquisitions, including Mellanox Technologies and the pending ARM Holdings deal, have bolstered its market reach and technological prowess.

The company’s stock, traded under NVDA, reflects its robust position in the tech industry.

AFP

Bandits kill six, abduct others in Kaduna fresh attack

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Six persons have been confirmed killed while several others were kidnapped when some bandits invaded the Bauda and Chibiya communities in Maro Ward in Kajuru Local Government Area of Kaduna State.

It was gathered that the rampaging bandits stormed the villages on Monday afternoon and unleashed terror killing the non-suspecting resident while they razed houses.

The local government Chairman, Ibrahim Gajere who confirmed the incident in a statement obtained by According Online on Tuesday, said the bandits rode on motorcycles fully armed with sophisticated weapons killing two persons in Bauda and three three others in Chibiya while one person is yet to be identified.

The victims were identified as; Mamuda Tanimu -Ungwan Sarki, Yusuf Paul – Bauda, Amuse Wasika – Chibiya, Laraba Timothy – Chibiya, Saratu Amuse -Chibiya
and a visitor.

While those whose houses were razed down by the assailants are identified as;
Paul Anthony, Yusuf Paul, Hosea Moni, Victor Yusuf, Benedict Paul, Yohanna Moni, Joseph Yusuf.

According to him, seven residential houses were also set ablaze alongside eight motorcycles.

“Although most of the victims killed were attacked while working on their farms, two persons were killed in their homes.

“Security operatives have been notified of the sad incident and have intensified patrol within and around the general Area.”

When contacted, the Kaduna State Police Public Relations Officer, ASP Mansir Hassan, did not respond to calls and text messages sent to him by our correspondent as of the time of filing this report.

In February, some bandits invaded the Gindin Duste Makyali community in Kaduna, killing at least 12 people during the attack.

 

Putin hails North Korea’s support for Ukraine war

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Russian President, Vladimir Putin, landed in North Korea on Wednesday, the Kremlin said, kicking off a visit set to boost defence ties between the two nuclear-armed countries as Moscow pursues its war in Ukraine.

Ahead of Putin’s late-night touchdown, huge banners with a smiling photograph of the Russian leader reading “We ardently welcome President Putin!” were hung from lampposts across Pyongyang alongside Russian flags, images in Russian state media showed.

The trip is Putin’s first to the isolated nation in 24 years, with a recent confrontation between North and South Korean troops on the countries’ shared border highlighting regional security tensions.

Moscow and Pyongyang have been allies since North Korea’s founding after World War II and have drawn even closer since Russia’s invasion of Ukraine in 2022 led to the West isolating Putin internationally.

The United States and its allies have accused North Korea of supplying Russia with much-needed arms, including ballistic missiles to use in Ukraine.

The North has denied giving Russia military hardware, but ahead of his trip, Putin thanked Kim Jong Un’s government for helping the war effort.

“We highly appreciate that the DPRK (North Korea) is firmly supporting the special military operations of Russia being conducted in Ukraine,” Putin wrote in an article published by Pyongyang’s state media on Tuesday.

Russia and the North are “now actively developing the many-sided partnership”, Putin wrote.

Both countries are under rafts of UN sanctions — Pyongyang since 2006 over banned nuclear and ballistic missile programmes and Moscow over the invasion of Ukraine.

Putin praised North Korea for “defending their interests very effectively despite the US economic pressure, provocation, blackmail and military threats that have lasted for decades”.

He also hailed Moscow and Pyongyang for “maintaining the common line and stand at the UN”.

North Korea said the visit showed bilateral ties “are getting stronger day by day”, the official Korean Central News Agency reported.

US concern

The North has described allegations of supplying weapons to Russia as “absurd”.

However, it did thank Russia for using its UN veto in March to effectively end monitoring of sanctions violations just as UN experts were starting to probe alleged arms transfers.

The United States voiced “concern” on Monday about Putin’s trip because of the security implications for South Korea as well as Ukraine.

The two Koreas have remained technically at war since their 1950-53 conflict and the border dividing them is one of the most heavily fortified in the world.

“We know North Korean ballistic missiles are still being used to hit Ukrainian targets (and) there could be some reciprocity here that could affect security on the Korean peninsula,” National Security Council spokesman John Kirby told reporters.

Highlighting those security concerns, South Korea said its troops fired warning shots at soldiers from the North who briefly crossed the border on Tuesday and then retreated.

The South’s military said it believed the North Korean soldiers accidentally crossed as they were fortifying the border, but said some of them were wounded after detonating landmines.

‘Lonely bromance’

NATO Secretary General Jens Stoltenberg said Putin’s trip showed how he was “dependent” on authoritarian leaders.

“Their closest friends and the biggest supporters of the Russian war effort — war of aggression — (are) North Korea, Iran and China,” Stoltenberg said.

Ukraine’s Foreign Minister Dmytro Kuleba urged the international community to counter “the lonely bromance” between Putin and Kim by increasing arms supplies to Kyiv.

“The best way to respond to it is to continue strengthening the diplomatic coalition for just and lasting peace in Ukraine and delivering more Patriots and ammunition to Ukraine,” Kuleba told AFP.

North Korea is eager for high-end military technology to advance its nuclear, missile, satellite and nuclear-powered submarine programmes, according to experts.

The Kremlin released a document on Tuesday confirming that Russia plans to sign a “strategic partnership” treaty with North Korea.

Given North Korea’s chronic resource shortages, Pyongyang is expected to discuss ways to strengthen cooperation in areas such as tourism, agriculture and mining, “in exchange for providing military supplies” to Russia, a report from the Seoul-based Institute for National Security Strategy report said.

Other issues including “cooperation on the deployment of North Korean workers or the supply of energy to North Korea — both of which would violate sanctions… are also likely to be discussed” behind the scenes, INSS researcher Kim Sung-bae wrote.

AFP

Eight die in Iran hospital fire

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At least eight people have died in a fire incident at a hospital in Iran.
Reports said the fire broke out in a hospital in the city of Rasht near the Caspian Sea in the north of the country on Tuesday.
According to initial findings, the dead were patients in an intensive care unit.
READ ALSO: Iranian film-maker sentenced to 8 years in prison
The head of the city emergency services told journalists dozens of firefighters were deployed.
The cause of the fire is still being investigated.
Around 140 patients were rescued though there were concerns that there could be more victims.
The post Eight die in Iran hospital fire appeared first on Latest Nigeria News | Top Stories from TVN.

Policeman, vigilante member killed in Rivers LG crisis

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The Rivers State Police Command has confirmed the death of a policeman and a member of a local security outfit in Eberi-Omuma in Omuma Local Government Area of the state on Tuesday.

They were reported killed during a crisis that broke out following the expiration of the three-year tenure of the elected chairmen of local governments and ward councillors on June 17.

The incident occurred around 1pm as a source said a policeman attached to a politician in the area had first shot the vigilante who is a member of the Omuma Security Planning and Advisory Committee and was in one of the groups that clashed at Omuma council secretariat.

Sequel to the incident, the victim’s men took up the security personnel in reprisal and fled the area immediately.

When contacted, the spokesperson for the state police command, Grace Iringe-Koko, confirmed the incident, saying, “Yes, we lost a police officer and a vigilante member, Investigation is ongoing to ascertain the immediate and remote causes of the incident.”

Iringe-Koko said the command would soon issue a detailed statement on the crisis that rocked the state and the steps it has taken so far.

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Osimhen takes CAF award to his primary school in Lagos

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Nigerian striker, Victor Osimhen, recently visited his alma mater, Olusosun Primary School, in the Oregun area of Lagos State, taking his CAF award with him.

Osimhen, in December 2023, won the CAF 2023 Men’s Player of the Year award, becoming the first Nigerian to win the award since Nwankwo Kanu in 1999.

His recent visit to the school was disclosed on X.com by a photojournalist, Sulaiman Adebayo, popularly called Pooja.

The caption read, “Victor Osimhen takes his CAF Award to Olusosun Primary School, Ojota, where it all started with street coaches and friends.”

In June 2023, Osimhen had similarly visited the primary school.

He reportedly went to his former classroom, saw his old teacher, and took pictures with the students at the school.

Watch video here

Insecurity: Kogi govt bans processions in Koton Karfe

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The Kogi State government has banned traditional processions in the Koton Kafe area of the state capital of the state for security reasons.
The state’s Commissioner for Information, Mr. Kingsley Fanwo, announced the ban in a statement issued on Tuesday in Lokoja.
Fanwo said security reports indicated that all was not well in the Koton Kafe community following alleged plans by some people to forment trouble in the area.
He said the ban was aimed at maintaining peace in Koton karfe and its environs.
“The proactive ban is aimed at curbing plans by some elements in the area to disturb the peace of the ancient town.
READ ALSO: Kogi govt accuses Sen Adeyemi of lying about APC gov’ship primary
“Governor Usman Ododo has reiterated his administration’s commitment to peaceful co-existence among all Koton karfe people.
“He will always leave his doors open to listen to complaints and grievances rather than resort to violence,” the commissioner stated.
Fanwo urged law enforcement agents to enforce the ban in accordance with the laws of the land.
Former Governor Yahaya Bello on January 8 removed Alhaji Abdulrazaq Isah-Koto as the Ohimege-Igu Koton-Karfe.
Isah-Koto was also the Chairman, Lokoja/ Kogi local government area traditional council.
The monarch, who was banished to Rijau local government area of Niger State, was replaced with Alhaji Saidu Akawu-Salihu.
The post Insecurity: Kogi govt bans processions in Koton Karfe appeared first on Latest Nigeria News | Top Stories from TVN.

FERMA clears drainages, repairs on Abuja-Keffi highway

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The Federal Roads Maintenance Agency on Tuesday commenced the removal of silts and construction of failed drainages along the popular Abuja-Mararaba-Keffi highway.

The drainage clearing exercise, which started from Km 9 along Mararaba market, saw several FERMA officials opening up the waterways to pack out silts while the direct labour workers made a spirited effort to decongest the traffic.

On the Masaka axis of the Abuja-Keffi road, there were massive remedial works on the failed drains, the Ado bridge and the setback separating the dual carriage roads.

Addressing newsmen, FERMA roads maintenance engineer in charge of the Federal Capital Territory, Martin Eze, disclosed that the exercise was a continuation of the ‘Operation desilting of waterways’ programme flagged off two weeks ago by FERMA Managing Director, Dr Chukwuemeka Agbasi.

Eze, who admitted that FERMA’s biggest challenge was managing humans, appealed to traders and residents staying close to the drainages to desist from throwing refuse into the hydraulic structures.

He said, “This is a continuation of the programme recently launched by our MD, Dr Emeka Agbasi. We are currently at Km 9 along the Mararaba-Keffi Road. The essence is to make sure that all waterways, drainages and hydraulic structures are open and free for water to flow during this rainy season.

“That way, it will make our roads last longer. We appeal to road users, especially people who stay close to the drainage facilities not to pour refuse into them. Some people will wait for the rain to start to pour their refuse into the hydraulic structure thereby blocking the waterways.

“We frown at this and therefore call on Nigerians, especially road users and people close to these structures not to abuse them.”

When asked to address the fear that some traders may be displaced as a result of the ongoing exercise, the FERMA maintenance officer dismissed the insinuation.

According to him, the exercise is solely to clear the waterways.

“The fear of displacement does not arise as we are not reconstructing the roads or expanding them. We are only maintaining the existing roads. So it won’t affect anybody for now.

“It is a continuous process. We carried out a similar one in December last year until people came again to silt the drains. I think one of the major challenges we have is managing the people and their activities. But I can assure you this exercise will be completed before the rainy season takes over,” he stated.

Four injured as Anambra traders, sanitation officers clash 

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There was pandemonium at Niger Street market in Onitsha, on Tuesday, following a clash between operatives of the Operation Clean and Healthy Anambra State Brigade and some traders using umbrellas as shelter after the Anambra state government demolished their shops.

The operatives of the OCHA brigade had invaded the Ndende land located along Niger Street in Onitsha South LGA, where the state government through the Onitsha South authority destroyed over 863 shops and 27 sand pits belonging to Lake Petroleum Limited, and its inhabitants.

The action of the OCHA brigade was contrary to an interim injunction restraining the Anambra State Government, the Attorney General of Anambra State, Emeka Orji (Chairman, Caretaker Committee Onitsha South Local Government Area of Anambra State) and Inspector General of Police), from encroaching the said location.

Also destroyed were goods including food, drinks and other articles of trade and umbrellas of the traders which resulted in a clash between them and the OCHA Brigade operatives, a task force of the Anambra state government.

However, but for the timely intervention of the policemen from Fegge Police Station, Onitsha, the clash would have been bloody as the traders involved were said to be still nursing their wounds over the destruction of their shops and goods during the demolition by Onitsha South Local Government Authorities.

One of the many angry traders who spoke to journalists on behalf of the affected traders, Nzube Okoye, said that they have been managing to feed and take care of their families while waiting for the determination of the Suit by their landlord, Lake Petroleum Limited against Anambra State government over their attempted forceful ejection from the land by the state government through the Onitsha South Local Government authority.

Okoye said, “We are not occupying here illegally, we are permitted by the order of the court, which is an Order of Interim Injunction secured by our landlord Lake Petroleum Limited, against the Anambra State Government, the Attorney General of Anambra State, Emeka Orji, who is the Chairman Caretaker Committee Onitsha South Local Government Area, Anambra State and the Inspector General of Police.

“Our landlord has the Certificate of Occupancy of the land and had secured an Interim Injunction which must be respected, against the Anambra State government over our stay here. We expect the State Government and its agents like OCHA Brigade to respect the court order, but they won’t, everything they have been doing here since the interim order was secured has all been in breach of the court order.

“The state government should call the men of OCHA Brigade to order, they are embarrassing the government and disobeying a valid Order of the Federal High Court Awka with the Suit No: FHC /AWK/ CS/75/2024. We have the Interim Injunction restraining the government and its agents from disturbing us here.”

Recall that Lake Petroleum Limited had through its lawyer, Gerald Ezeuko, SAN, secured an Order of Interim Injunction from the Federal High Court Awka, with the Suit No: FHC /AWK/ CS/75/2024, restraining the Anambra State Government, the Attorney General of Anambra State, Emeka Orji (Chairman Caretaker Committee Onitsha South Local Government Area of Anambra State and Inspector General of Police) who are the Respondents in the Suit, their agents, privies, cronies from further invasion, entering, demolition and sealing off and stationing armed thugs and Policemen on the landed property known as Ndende Land situate along Niger Street Onitsha South Local Government Area Anambra State covered by Building Certificate of Occupancy issued in the name of Lake Petroleum Limited, the Applicant.

The order also prohibited the Respondents from further denying the Applicant, its staff and tenants access or entry into the said land to carry out their daily legitimate businesses pending the determination of the Substantive Motion for Enforcement of the Applicant’s Fundamental Right to own immovable property in Nigeria.

Enugu gov’s wife unveils health insurance scheme for pregnant women

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The wife of the Enugu State Governor, Mrs. Nkechinyere Mbah, on Tuesday, unveiled a health insurance scheme, ‘Mama Care Initiative’ to address maternal and infant mortality in the state.

So far, she has enrolled about 1,701 pregnant women in a one-year health insurance programme.

Mbah said, “The initiative, in partnership with the Custos Care Foundation, aims to reduce maternal and infant mortality in the state by providing comprehensive healthcare services, including antenatal care, safe delivery, and postnatal care.”

Beneficiaries also received financial support and foodstuffs, including 1,701 bags of rice, to support their nutritional needs.

Throwing more light on the initiative, Mbah said, “Too often, the joy of pregnancy is overshadowed by the fear and uncertainty brought about by financial constraints, leading many women to seek the services of traditional birth attendants. While these attendants have served their communities for generations, the realities of modern healthcare necessitate a shift towards facilities, equipped to handle the complexities of childbirth.

“Through the Mama Care Initiative, we are taking decisive action to bridge this gap by paying for a one-year health insurance premium for 1,701 pregnant women across our 17 local government areas, ensuring that 100 women from each L.G.A will have access to comprehensive healthcare services, which includes not only antenatal care but also the safe and supervised conditions necessary for delivery in our hospitals and healthcare centres.

“Our vision is to reduce maternal and infant mortality in our state significantly. It is unacceptable that in this era, women should lose their lives giving birth or that infants should not survive their first days due to preventable complications.

“We aim to provide our mothers with the security and support they need to bring new life into the world safety and healthily. This commitment is to the welfare and healthcare of our mothers and children in Enugu State.

“The Mama Care Initiative is designed to provide essential services such as prenatal and postnatal care, nutritional support, health education, and access to medical resources. It will bring essential medical services directly to our communities, ensuring that even the most remote areas benefit from the expertise and care of our dedicated healthcare professionals.”

She added, “By combining the provision of health insurance with proactive medical outreach, we are creating a robust support system for our expectant mothers.

“It is a health intervention and pledge of support to every woman in Enugu State, a promise that we see you, hear you, and are committed to standing by you through one of the most critical phases of your life.

“We encourage all our pregnant mothers to utilize these services, to attend their antenatal appointments diligently, take your routine drugs religiously and to choose hospitals or healthcare centres for childbirth. Your health and the health of your baby are paramount.

“We understand the importance of proper nutrition for both mother and child, and we are here to ensure that you have the resources needed to thrive.”

The state Commissioner for Health, Prof Emmanuel Obi, described the initiative as a significant milestone in the state’s efforts to improve healthcare services, particularly for pregnant women and newborns.

The programme has been hailed as a game-changer by beneficiaries, who expressed gratitude for the support and care they will receive during pregnancy and childbirth.