Nvidia Surpasses Microsoft as Most Valuable Company in 2024

Posted on by

Nvidia (NVDA.O) has become the world’s most valuable company, surpassing Microsoft (MSFT.O) with a market capitalization of $3.335 trillion. Nvidia’s shares climbed 3.5% to $135.58 on June 18, driven by the booming demand for its AI chips. This feat comes just days after the company overtook Apple (AAPL.O) to become the second most valuable company. Microsoft’s market value now stands at $3.32 trillion after a 0.45% dip, while Apple’s value is $3.29 trillion following a 1.1% drop.

Photo Credit: Reuters

Nvidia’s rise has been meteoric, with its stock up nearly 182% this year and more than ninefold since the end of 2022, fueled by the surge in generative artificial intelligence. The company’s GPUs are crucial for AI development, dominating about 80% of the market for AI chips used in data centers. This dominance has propelled Nvidia’s revenue in the data center business to $22.6 billion, accounting for about 86% of its total sales. Since its stock market debut in 1999, Nvidia shares have skyrocketed 591,078%, turning a $10,000 investment into $59,107,800 today.

Founded as a niche player in the gaming community, Nvidia has transformed into a central figure in the tech industry. Under CEO Jensen Huang’s leadership, the company pivoted in the 2000s to develop GPUs for broader applications beyond gaming, setting the stage for its current AI boom. Despite its rapid ascent, Nvidia has yet to be added to the Dow Jones Industrial Average. To appeal to individual investors, Nvidia recently executed a 10-for-1 stock split. The company’s stunning growth has also elevated Huang’s net worth to over $117 billion, making him one of the world’s richest individuals.

References:

CNBC Nvidia passes Microsoft in market cap to become most valuable public company

Reuters Nvidia eclipses Microsoft as world’s most valuable company

Aljazeera Nvidia becomes world’s most valuable company, dethroning Microsoft

Nairobi Protests Against Finance Bill 2024: Impact and Future Prospects

Posted on by

Kenyans took to the streets of Nairobi’s Central Business District (CBD) on Tuesday, voicing their opposition to the contentious Finance Bill 2024. Backed by the Azimio coalition, demonstrators viewed the proposed legislation as punitive and counterproductive to economic stability. Amidst the vibrant chants and calls for reform, the National Assembly’s Finance Committee, feeling the pressure, announced it had dropped several contentious clauses in the bill. Led by Kimani Kuria, the committee stated that the changes were informed by the inflationary pressures confronting many Kenyans, setting the stage for a heated parliamentary session.

Citizen Digital

Amid the protests, questions emerged over the conduct of armed plainclothes police officers infiltrating the crowds. These officers, without uniforms or identification, targeted individuals suspected of leading or participating in the demonstrations. Human rights groups have decried this tactic, citing significant concerns over the apparent violation of constitutional rights. The officers’ actions, characterized by excessive force and lack of clear identification, have ignited calls for greater transparency and accountability from the National Police Service (NPS). The Law Society of Kenya (LSK) condemned the police interference, warning of legal action against unlawful directives and emphasising their commitment to holding violators personally liable.

Adding to the tension, ODM leader Raila Odinga expressed his pride in the protesters, particularly moved by a young female demonstrator who spoke passionately on his behalf. “I’m a very proud father today!” Raila declared on X, sharing the video that has since gone viral. The Azimio coalition criticized the government’s tactics, accusing them of playing ‘mind games’ with the public by including contentious proposals seemingly designed to provoke outrage. As MPs prepare for a special session to discuss amendments to the bill, both ruling Kenya Kwanza and opposition Azimio MPs have been summoned by their respective leaderships to firm up positions. The nation watches closely, hoping for a fair and transparent resolution to the ongoing crisis, as demonstrators’ resolve remains unshaken despite the challenges faced during the protests.

References:

Citizen Digital Police Or Goons? Questions Emerge Over Conduct Of Armed Plainclothes Officers At Anti-Finance Bill Protests

The East African MPs drop punitive taxes as protests rock Nairobi

The Global Significance of Mother’s Day and Father’s Day: A Historical Perspective

Posted on by

Mother’s Day, rooted in post-Civil War peace efforts led by Ann Reeves Jarvis, evolved into a significant holiday in 1908 when Anna Jarvis campaigned to honour her own mother, leading to its national recognition by President Woodrow Wilson in 1914. Today, alongside Mother’s Day, we celebrate Father’s Day, a holiday with its own unique origins and significance.

Father’s Day started on July 5, 1908, in West Virginia, honouring men who died in a mining disaster. Inspired by Mother’s Day, Sonora Smart Dodd from Spokane, Washington, proposed an official Father’s Day in 1909. Dodd, one of six children raised by a widower, sought to honour her father, Civil War veteran William Jackson Smart. She advocated for Father’s Day through local churches, the YMCA, and government officials, leading to Washington State celebrating the first statewide Father’s Day on June 19, 1910. Although the holiday initially struggled to gain traction, Dodd’s persistent promotion, supported by trade groups, helped it spread. By the 1930s, national awareness grew, and in 1972, President Richard Nixon officially recognised Father’s Day as a permanent national holiday.

Today, Father’s Day is celebrated globally, reflecting its broad appeal and recognition of fatherhood. In the United States, it is observed on the third Sunday in June, a tradition followed by many countries, including Kenya. Other nations, particularly in Europe and Latin America, honour fathers on St. Joseph’s Day in March. This global reach underscores the universal importance of acknowledging and celebrating the role of fathers in families and society.

References

Wikipedia Father’s Day (United States)

History Father’s Day 2024

US-Kenya Relations Strengthened: President Biden Designates Kenya as Major Non-NATO Ally

Posted on by

On 23rd last month, President Joe Biden hosted a grand White House dinner to honour Kenyan President William Ruto , marking the first state visit by an African leader in nearly 20 years. The event featured a surprise appearance by former US president Barack Obama, emphasising the significance of US-Kenya relations.

Photo Courtesy: Reuters

The state dinner underscored the significance of US-Kenya relations, with President Biden praising Ruto’s bold leadership and announcing Kenya’s designation as a major non-NATO ally, a first for sub-Saharan Africa. This move aims to bolster bilateral ties and recognise Kenya’s growing influence on the global stage. Biden and Ruto also unveiled the “Nairobi-Washington Vision,” a collaborative effort to support debt relief for developing nations and enhance cooperation on critical issues such as health, security, economic stability, cybersecurity, and climate change.

Former President Obama, whose father was born in Kenya, briefly attended the dinner, emphasising the personal and historical significance of the event. His presence symbolised the deep connections between the two nations. The evening’s celebrations not only honoured the longstanding friendship between the US and Kenya but also looked forward to a future of enhanced collaboration and mutual support in tackling global challenges.

References

Independent Barack is back! Obama stops by Biden’s lavish state dinner for Kenyan president

The East African Ruto, Biden announce new investment deals as they seek deeper ties

BBC Biden welcomes Kenya’s leader as US under pressure in Africa


Erik ten Hag’s Tactical Masterstroke Secures FA Cup Triumph

Posted on by

Erik ten Hag’s bold move to deploy Bruno Fernandes as a false 9, inspired by Jason Wilcox’s tactical insight, was a game-changer in Manchester United’s FA Cup triumph over arch-rivals Manchester City. This strategy, showcasing Ten Hag’s adaptability, impressed minority owner Sir Jim Ratcliffe and cemented the Dutchman’s future at the helm.

Photo Courtesy: Getty Images

Fernandes’ clever assist for Kobbie Mainoo’s decisive goal underscored the brilliance of the tactical twitch. With Wilcox as United’s new technical director, the team’s playing style is evolving. As the summer transfer window approaches, Wilcox and Ten Hag will team up to bolster United’s squad, building on the impressive showing at the FA Cup final.

This strategic victory not only secured Erik ten Hag’s position but also set the stage for greater success in the future. With his proven adaptability and strong collaboration with his coaching staff, Ten Hag is poised to lead Manchester united to new heights, building a team capable of consistently competing for top honours.

References

The Guardian Ten Hag FA Cup final decision key to him staying on at Manchester United

BBC What do Man Utd fans think about Ten Hag staying?

The Athletic Erik ten Hag to stay as Manchester United manager

Coast Governors Veto Muguka Sale

Posted on by

President William Ruto has reversed a ban on Muguka, a stimulant linked to drug abuse among young people, which was previously announced by three coastal leaders in Kenya. Ruto directed the Ministry of Agriculture to engage all stakeholders, emphasizing the economic importance of muguka for Embu County, where it brings in significant income. Agriculture CS Mithika Linturi declared the ban by the three governors as invalid, noting that Muguka is legally recognized as a cash crop under existing regulations.

Considering that the County Governor serves as the chief executive officer of the county government in Kenya, and recognizing the dual-level structure of governance comprising the national and county governments, it is within the purview of the County Governor to exercise legislative and executive powers at the county level. In accordance with the principles of devolution enshrined in the Constitution of Kenya, County Governors possess the authority to promulgate and enforce ordinances and regulations that address the specific needs and welfare of their respective communities. Consequently, in situations where such local enactments are demonstrably in the best interest of the county’s populace, the authority of the County Governor to override or modify national legislation may be justified, ensuring that local governance is responsive and tailored to the unique socio-economic and cultural context of the county.

Calls for tougher penalties to combat the sale of illicit brews in Kenya are amplified, emphasizing the need for comprehensive measures from both the Executive and Parliament. The surge in criminal activities linked to the trade is a cause for concern, prompting advocates for stricter enforcement of laws regulating alcoholic beverages. Meanwhile, the Nakuru Bar Owners Association supports government initiatives to eliminate illicit liquor sales, citing concerns over public health and legitimate businesses. In contrast, the sale and consumption of Muguka, a psychotropic substance, present growing concerns, particularly in coastal regions. Pressure mounts on the government to address the social and health consequences associated with Muguka use, including addiction and criminal activities. Efforts to regulate Muguka sales and consumption are underway, but challenges persist in enforcing restrictions and combating its proliferating trade.

In the same way that the unwavering dedication of law enforcement in Bahati, Nakuru County, has tackled the scourge of second-generation alcohol, so too must this steadfast commitment be mirrored at the coast to combat the sale of Muguka. True progress in safeguarding our communities lies in applying consistent zeal and resolve across all regions, recognising that the health and future of our society depend on our collective and equal efforts.

References

The Africa Report Kenya: Ruto’s reversal of muguka ban in coastal region draws criticism

AfroCave Role and Functions of a County Governor in Kenya

Kenya News Agency Ex-MP Calls For Stiffer Penalties To Curb Sale, Consumption Of Illicit Brews

2024 Budget Policy Statement: Analyzing Mixed Reactions and Nationwide Criticism

Posted on by

The 2024 Budget Policy Statement has been received with mixed reactions across the country. It has raised eyebrows of citizens, asking whether it is intended to cater to their needs or otherwise. The Budget Policy Statement of 2024 is the highest that has been read yet and has attracted widespread criticism in Nakuru City and indeed countrywide.

Citizen TV

The document prepared by the National Treasury and Economic Planning, is focused on sustaining bottom-up economic recovery and improving livelihoods. “If wishes were horses, beggars would ride!”

References

2024 BUDGET POLICY STATEMENT

The Budget Policy Statement reveals conflicting data

Education Bill, a step towards vision 2030

Posted on by

Education is a very imperative factor towards economic and social development. Most of the industrialized countries are characterized by a large number of erudite citizens. Since primary school education was made free in Kenya, after the 2002 General elections, many of the children affected by poverty got the opportunity to acquire education. Although numerous were still locked out either because of the long distances from available schools to their homes or because of the negligence of some parents especially those from rural communities who do not value education. A lot of brilliant students were therefore denied their right to education. Fortunately, this will soon be a tale of the past if the education bill that was recently tabled in parliament is to be passed. The bill is intended to make education free and compulsory to every child.

The bill states that education should be free and compulsory to every child, and parents should enroll any child of school going age to a nearby primary school. It also states that no child should be held back until he/she completes basic education. If a child fails to attend school on a regular basis or is not enrolled in any school, the parent or guardian is to face up to one year jail sentence or a fine of 5,000 shillings. The bill also outlines that only a cabinet secretary, through a gazette notice, will exempt any child’s admission to a school. Toting up to that, the cabinet secretary in consultation with the National Education Board and County Education Board will establish primary and secondary institutions within a radius of 3 kilometers of every residential area. This will curb the problem of schools being inaccessible to some children, particularly those in rural areas.

This bill could transform the lives of many Kenyans. There are countless children unfairly deprived of education and for some, it is due to the negligence of their parents. This will also increase opportunities for the girl child to be educated as well as eliminate their early marriages since some communities are notorious for holding the belief that educating the girl child is a waste of time and resources. Additional opportunities for education will also promote economic development. This is because education increases invention and innovation. Many scholars will also be enrolled in secondary schools and this will open scholarship opportunities for secondary education. If these students pass well, they will be sponsored by various institutions and organizations for their secondary education and for some even their tertiary education. Therefore the education bill is a colossal step towards development in Kenya.

How to survive inflation

Posted on by

It is almost impossible to live without purchasing products and services especially in urban areas, for this reason, expenses are already high. Inflation makes it worse and therefore one needs a few tips on how to live comfortably as well as save money and mostly survive inflation.

First, the most important thing is to monitor the prices of goods in the market. When there is a slight drop is the best time to shop in bulk. Shopping in bulk also saves money and resources as compared to constant trips to the supermarket all month long. Bulk shopping is also cheaper as the packs are more economical. Also, consumers should try and purchase goods from the wholesalers if possible as the chain of distribution is shortened, since there are less middlemen and hence prices are cheaper. That way, one can save a few shillings. Scrutinize your shopping list comprehensively by asking yourself if you really need some of the things you are spending for and how often you use them. If the answer is negative, then do not purchase the items. By this, you will find yourself cutting off unnecessary expenses and saving some for the basic needs. Reduce your consumption on the products that are rising rapidly in price, especially if they are things you can do without. For instance, the price of fuel is rising rapidly. If travelling for a long distance, one can opt to use public means, which is cheaper than fueling your own vehicle that will save you a great deal of money.

Finally, inflation is beyond our control as consumers. There is nothing much we can do about it, but the good news is that we can control how much damage it brings along financially by basically cutting down on the products and services that we do not need temporarily, or reducing how much we utilize them. This will help you save a coin or two, that can be used to buy the necessities. Therefore one does not have to live cheap but just a bit smart. Let the luxuries be a once in a while treat. Consumers should also keep in mind that purchasing commodities in bulk is usually cheaper than the opposite. Good luck as you masquerade past the economic hurricane.

Hands-free Umbrella that is turning heads

Posted on by

The rainy season is here with us and for a couple of weeks we shall have to move around with all manner of umbrellas in our hands. It gets worse for cyclists during this season as they have to grapple with the harsh conditions with the heavens at their mercy. This is set to change though after the invention of the Nubrella a hands- free umbrella never mind that its predecessor was invented 3000 years ago that will blow away your mind but stand wind gusts of up to 80 kilometers per hour.
The Nubrella works by attaching a waterproof bubble which covers the head and shoulders to a shoulder strap wrapped around the user. Once the rain stops, you will not have to worry about carrying extra items as the nubrella can be slid back to sit behind the head like a hood.
Thanks to the invention by Alan Kaufman, 49, from Florida you will now be able to text ,tweet or post on facebook as you tightly clutch onto your loved one’s hand this cold season .To enjoy this extraordinary umbrella you will have to part with around 3600 shillings http://www.nubrella.com/ here .The cost aside the invention comes in handy especially for people who are always on the go or working outdoors especially this season.

The Ultimate Weather Protector Numbrella.com 4th May 2012