02/22/2024

Nvidia Races to $2 Trillion Mark

AI mania has sparked a Wall St tech rally

Nvidia inched closer to $2 trillion market value after the bellwether for AI chip demand once again exceeded Wall Street's sky-high expectations, re-igniting a global rally in tech stocks.

The chipmaker returned as the third most valuable U.S. company as its shares jumped 12.5 percent to a record high of $760.71 on Thursday. If gains hold, Nvidia will add about $210 billion to its market capitalization.

Its shares have jumped nearly 36 percent this year to become the top performing S&P 500 stock, while playing a crucial part in the benchmark index climbing record highs in 2024.

Please select this link to read the complete article from Reuters.