Nvidia, the beloved artificial intelligence darling of Wall Street, has achieved yet another milestone as its market capitalization reaches a staggering $1.83 trillion, surpassing that of Google’s parent company, Alphabet. This latest feat comes on the heels of Nvidia overtaking Amazon’s market cap earlier this week.
Shares of the Santa Clara-based chipmaker experienced a 2.5% increase, reaching $739 per share, while Alphabet shares closed at $145.94. Nvidia’s stock has been on a remarkable upward trajectory, surging 222% this year alone, making it one of the most successful stocks on the US stock market.
Since 2023, Nvidia has been riding the wave of AI hype, attracting investors who believe in the potential of this groundbreaking technology. This surge in interest, along with sky-high interest rates, led to a bull market that saw the S&P 500 index jump by 24% last year. As the dominant force in AI, Nvidia has reaped the greatest benefits, with its stock skyrocketing by 49% this year and an astounding 239% in 2023.
While Nvidia and other tech stocks have continued to soar, some investors remain cautious. Dave Sekera, chief US market strategist at Morningstar, warns that the current valuation of Nvidia is heavily reliant on its rapid growth rate. Any factors that could impede this growth trajectory may negatively impact the company’s valuation.
Nvidia’s CEO, Jensen Huang, recognizes the importance of democratizing AI technology. He believes that all countries should protect their own data and that the company should enable every region to develop their own digital intelligence. Huang expressed these sentiments during the World Government Summit in Dubai.
As the AI revolution continues to shape the future, Nvidia stands at the forefront, leading the pack of tech giants in the race for dominance. While skepticism lingers, the impressive performance of Nvidia’s stock highlights the growing recognition of the immense potential AI holds for our society.
FAQs about Nvidia’s Market Cap Surpassing Alphabet’s
1. What is Nvidia’s market capitalization?
Nvidia’s market capitalization is now worth a staggering $1.83 trillion, surpassing Alphabet’s.
2. How has Nvidia’s stock been performing?
Nvidia’s stock has been on a remarkable upward trajectory, surging 222% this year alone, making it one of the most successful stocks on the US stock market.
3. When did Nvidia start attracting investors interested in AI?
Nvidia has been attracting investors interested in AI since 2023, riding the wave of AI hype.
4. What could negatively impact Nvidia’s valuation?
Investors remain cautious, as any factors that could impede Nvidia’s growth trajectory may negatively impact the company’s valuation.
5. What does Nvidia’s CEO believe in?
Nvidia’s CEO, Jensen Huang, believes in democratizing AI technology and enabling every region to develop its own digital intelligence.
Definitions:
– Market capitalization: The total value of a company as determined by the stock market, obtained by multiplying the number of shares by the current share price.
– AI (Artificial Intelligence): The simulation of human intelligence in machines that are programmed to think and learn like humans.
Related links:
– Nvidia’s official website
The source of the article is from the blog windowsvistamagazine.es