Nvidia Stock Eyes These Milestones After AI Leader Surges Above 1,000

Description

Nvidia (NVDA), a leading company in the artificial intelligence (AI) and semiconductor industry, has been experiencing incredible growth. Recently, the company’s stock surged past the $1,000 mark for the first time, reaching a market value of over $2.5 trillion. This achievement comes less than a year after Nvidia’s market cap hit $1 trillion. Nvidia’s stock continued to climb on Tuesday, showing no signs of slowing down.

Aiming for the Top

With Nvidia’s impressive earnings and sales growth, it seems poised to become the world’s most valuable company, potentially overtaking giants like Apple (AAPL) and Microsoft (MSFT). Last week, Nvidia’s stock jumped 15.1%, reaching a record high of $1,064.19. This surge boosted its market cap by $338 billion, bringing it to $2.661 trillion as of May 24. Currently, Nvidia is just behind Apple, valued at $2.913 trillion, and not far from Microsoft at $3.196 trillion.

Remarkably, Nvidia’s market cap only hit $2 trillion three months earlier, on February 23. At the end of last year, Nvidia’s market cap was $1.22 trillion, trailing behind tech giants like Google parent Alphabet (GOOGL) and Amazon.com (AMZN), in addition to Apple and Microsoft. Among the “Magnificent Seven” stocks, which include top tech companies, Nvidia’s valuation was higher than only Meta Platforms (META) and Tesla (TSLA).