Above $2 trillion in market value is Nvidia
As the largest winner from the rush into AI-related stocks over the last year, Nvidia is headed for another significant milestone in its ascent: it will become the first semiconductor company to be valued at $2 trillion.
After completing the previous day with a value of $1.96 trillion, the chipmaker’s shares increased by 5% on Friday. After rising around 65% since the start of the year, the rise will solidify Nvidia’s ranking as the fourth most valuable business in the world, with a market capitalization that trails only that of Microsoft, Apple, and Saudi Aramco.
If the stock continues to ride Wall Street’s AI craze, Nvidia is on course to reach $2 trillion in less than a year, while Apple and Microsoft needed more than two years to reach that milestone.
Following the release of blowout results that validated Wall Street wagers on the potential of Nvidia’s AI capabilities, the company’s shares shot up.
