American Express Legal Internship – July 2024

Why have you chosen to apply to American Express? (150 words)

I have chosen to apply to American Express as I am eager to learn about the practice of in-house lawyers. Having experienced a commercial law firm, I am looking to build on this with more diverse experiences. The opportunity to do so at a renowned name such as American Express is an invaluable opportunity at this stage of my career. Being in my third year of university I am looking to put what I have learnt in the classroom into practice and begin developing tangible legal skills. I am especially attracted as this opportunity is looking to address discrepancies in law regarding those from underprivileged backgrounds. As a young (description) and a first-generation university attendee, this resonates with me. I am energised by the opportunity to gain experience somewhere I will be valued for my differences and thus able to concentrate on extracting the most out of the experience. 

What makes you a suitable candidate for this role? (150 words)

I believe I am a suitable candidate for the role because I am in a position to dedicate myself to this internship and ensure the opportunity is not wasted. As an individual who did not perform in school and had little confidence going into A Levels, I have to prove to myself that I am worth my own effort. I therefore promise myself to not be my own limitation by not putting myself forward for great opportunities such as this one. Part of this promise is that when such opportunities do arise I will give my all and extract the most value possible. What this would mean for this internship is going out of my way to ask candid questions of individuals I meet and immerse myself in the culture of American Express. I see no limit to the wealth of knowledge and experience I could gain from this opportunity. 

Discuss a current business news story that has attracted your attention. (250 words)

A story I have been following as of late is that of Nvidia and its exponential growth. I focused on an article in the Financial Times. The article declared that Nvidia's market value recently soared above $2 trillion, marking a significant milestone as it becomes the third US stock to achieve this valuation, joining the ranks of Apple and Microsoft. This remarkable achievement comes after an impressive 66% increase in share price since the beginning of 2024, adding approximately $830 billion in market capitalisation. This follows a year where Nvidia's shares surged more than 230%, continually surpassing analyst and investor expectations. In its latest financial update, Nvidia reported a staggering 265% year-on-year revenue increase, with CEO Jensen Huang highlighting AI's "tipping point," driven by surging demand across various sectors. This surge in Nvidia's market capitalization, particularly after its earnings report, underscores its quasi-monopolistic position in the AI chip market, as noted by industry experts. Nvidia's dominance is attributed to its essential tools for AI, which have spurred a broader rally across global stock markets. However, this rapid ascent has sparked discussions regarding the sustainability of the AI boom, with some analysts predicting a "moment of truth" where investments in AI must start delivering tangible returns. Despite potential future competition, Nvidia's significant R&D investment is expected to maintain its technological edge. This era, characterised by genuine earnings and solid cash flows, contrasts with the tech bubble of the late 1990s, underscoring a period where excitement is matched with substantial grounding.