In a surprising turn of events, Nvidia Corp’s market capitalization bucked the trend in the tech sector during August, defying the downward trajectory of other mega-cap technology stocks.

The surge in Nvidia’s market value can be attributed to its robust profit forecasts, which came at a time when rising U.S. bond yields were unsettling the tech industry.

Nvidia’s stock experienced a significant boost last month, primarily driven by its quarterly revenue projection, surpassing analysts’ expectations.

The ongoing demand for its chips, fueled by the artificial intelligence boom, played a pivotal role in this success. Additionally, the company’s announcement of a $25 billion share buyback program further bolstered investor confidence.

In stark contrast, other tech giants faced a somber August. Apple and Microsoft Corp saw their market capitalizations decline by 4.4% and 2.4%, respectively, while Meta Platforms Inc. suffered a more significant setback with a 7.1% drop in its shares.

Apple’s troubles were exacerbated as the company disclosed that its sales slump would persist into the fiscal fourth quarter. This decline was primarily attributed to slowing demand for its flagship iPhone product.

Conversely, Berkshire Hathaway experienced a notable uptick in its market cap, surging over 2% last month. This surge came as the company achieved a milestone, with its quarterly operating profit surpassing $10 billion for the first time.

Berkshire attributed this success to rising interest rates, which boosted profits from its fixed-income investments, and fewer accident claims bolstered Geico car insurance, one of its subsidiaries.

Meanwhile, Tencent Holdings faced a challenging month, with its market cap declining by approximately 9%. This decline was driven by weaker-than-expected growth in its core gaming business during the second quarter of the year.

Among the top 20 global companies by market cap, Johnson & Johnson experienced the most significant setback, with a 10% decrease in its market value. This decline came as a U.S. judge rejected the company’s second attempt to resolve tens of thousands of talc-related lawsuits, further exacerbating its legal challenges.