Connect with us


NVIDIA’s Valuation Reaches $2 Trillion As Dell Ignites AI Rally

Avatar of AlishbaW



NVIDIA's Valuation Reaches $2 Trillion As Dell Ignites AI Rally

(CTN News) – The stock market value of Nvidia, the world’s largest chipmaker, closed above $2 trillion for the first time on Friday following an upbeat report from Dell Technologies that reignited Wall Street’s AI-fueled rally.

Nvidia’s stock increased by 4% following Dell’s upbeat forecast late on Thursday, indicating a surge in orders for its AI-optimized servers made with Nvidia’s processors.

During the session, Dell’s shares soared by as much as 38% before closing up 32%.

The rally on Friday increased Nvidia’s market capitalization to $2.06 trillion, making it Wall Street’s third most valuable company, behind Microsoft and Apple, which have market capitalizations of $3.09 trillion and $2.77 trillion, respectively.

The stock of Super Micro Computer, another company that manufactures servers based on Nvidia’s chip, increased by 4.5%.

There were also record highs for Broadcom and Marvell Technology, while Advanced Micro Devices rose over 5%.

The PHLX chip index rose 4.3% to its own record high, bringing the total gain since 2024 to 18%.

The company controls approximately 80% of the high-end AI chip market, with customers including ChatGPT creator OpenAI, Microsoft, Alphabet, and Meta Platforms buying up its components in order to compete in the fast-emerging sector of generative artificial intelligence.

In recent years, the company has replaced Tesla as the most traded stock on Wall Street by day-to-day value. In the past 30 sessions, investors exchanged $36 billion of Nvidia’s stock, compared to $21 billion for Tesla.

On Friday, Nvidia’s shares traded for $38 billion.

After forecasting a roughly threefold increase in quarterly revenue, the Santa Clara, California-based company gained $277 billion in stock market value in just one session.

After more than trebling last year, Nvidia’s stock has now risen 66% in 2024. The company’s stock market value surpassed both Amazon and Alphabet last month.

The stock market value of Nvidia briefly surpassed $2 trillion a week ago before declining by the end of the session.

In accordance with LSEG data, Saudi Aramco has a market capitalization of $2.045 trillion, with over 90 percent of its shares held by the government of Saudi Arabia, and less than 2 percent of its shares available for trading by investors.


PayPal’s New Chief Marketing Officer Is Geoff Seeley

Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies