Nvidia’s value hits nearly $2.6T

Nvidia’s stock price has more than doubled this year, increasing the company’s market value by more than $1.3 trillion. The company’s market value rose $221 billion on Thursday alone after it reported better-than-expected quarterly results. The chipmaker has seen soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. Revenue more than tripled in the latest quarter from the same period a year earlier. It’s the latest sign that the excitement surrounding artificial intelligence likely won’t subside anytime soon.

Wade launches online community for transgender youth

NBA Hall of Famer Dwyane Wade has launched Translatable, a nonprofit online community dedicated to supporting transgender youth. Wade made the announcement Thursday at the Make Good Famous Summit after receiving the Elevate Prize Catalyst Award. His return to South Florida, where he spent much of his storied NBA career, was purposeful. He and his family felt they had to move California after his daughter, Zaya, came out as transgender in 2020. Wade says Zaya was inspirational in creating Translatable and share the award with her. He pledged that he would donate the $250,000 prize that comes with The Elevate Prize Catalyst Award for Translatable.

Memorial Day travel jams could be bad

Highways and airports are likely to be jammed in the coming days as Americans head out on and home from Memorial Day weekend getaways. AAA predicts this will be the busiest start-of-summer weekend in nearly 20 years with 43.8 million people expected to travel at least 50 miles from home between Thursday and Monday. The Transportation Security Administration says up to 3 million people may pass through airport checkpoints on Friday alone. That’s just a start. U.S. airlines expect to carry a record number of passengers this summer. The national expression of wanderlust is happening at a time when Americans tell pollsters they are worried about the economy and the direction of the country.

U.S. labor market continues to thrive

The number of Americans applying for unemployment benefits fell last week as layoffs remained historically low levels. Jobless claims for the week ending May 18 fell by 8,000 to 215,000, down from 223,000 the week before, the Labor Department reported Thursday. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week. In total, 1.79 million Americans were collecting jobless benefits during the week that ended May 11. That’s from up 8,000 from the previous week and 84,000 more than the same time one year ago.