Nvidia Stock Turns Negative After Surpassing $2 Trillion Valuation in Morning Trading

Tiger Newspress02-24

Nvidia stock turns negative after rising as much as 4.5% in morning trading.

Nvidia Corp. earlier becomes the first semiconductor firm with a $2 trillion valuation, another milestone in its ascendancy as the biggest beneficiary of a rush into artificial intelligence-related stocks over the past year.

The chipmaker’s shares rose as much as 4.5% in morning trading on Friday after closing at a $1.96 trillion valuation in the previous session. The gain will cement Nvidia’s position as the world’s fourth-most valuable company after rallying 59% since the beginning of the year, with a market capitalization that’s only behind those of Microsoft Corp., Apple Inc. and Saudi Aramco.

Nvidia shares surged after it reported blowout results that reaffirmed Wall Street bets on the potential for its artificial intelligence technologies. The chipmaker also gave guidance above expectations, driven by AI spending at its biggest customers, including Meta Platforms Inc.

Nvidia dominates the market for graphics chips designed for complex computing tasks needed to power AI applications that companies are rushing to develop.

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Comments

Ricochet
02-24
Ricochet
Keep going
iNkwiziTs
02-24
iNkwiziTs
Finally!!
Andrewinho
02-23
Andrewinho
👏👏👏🚀🚀🚀

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