Nvidia surpasses $3.6 trillion market value after Trump election victory
FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. Photograph:( Reuters )
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Nvidia stock rallied to a record high on November 7, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters.
Nvidia stock rallied to a record high on November 7, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters.
Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters.
The dominant AI chipmaker's shares rose 2.2 per cent, lifted by broad investor optimism about tax cuts and lower regulations after the Republican candidate Donald Trump clinched election victory on Tuesday.
First company in history to surpass a stock market value of $3.6 trillion
Nvidia's stock market value ended the day at $3.65 trillion, beating Apple's record closing market capitalization of $3.57 trillion reached on October 21, before the chipmaker on Tuesday overtook the iPhone maker as the world's most valuable company, according to London Stock Exchange Group (LSEG) data, the Reuters report detailed further.
Apple's stock rose 2.1 per cent on Thursday, leaving it with a market value of $3.44 trillion. The S&P 500 technology index has surged over 4 per cent in the two sessions since Trump won the election on Tuesday.
Nvidia has been the biggest winner in AI computing capacity building
Nvidia has been the US stock market's biggest winner from a race between Microsoft, Alphabet and other heavyweights to build out their AI computing capacity and dominate the emerging technology.
The Silicon Valley chip designer's stock has climbed 12 per cent in November, with its value tripling so far in 2024. Following this year's surge, Nvidia now exceeds the combined value of Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group and Netflix.
Analysts on average see Nvidia increasing its quarterly revenue by over 80 per cent to $32.9 billion when it reports its results on November 20, according to London Stock Exchange Group data.
Tech trio’s market capitalization has been neck-and-neck
In June, Nvidia briefly became the world's most valuable company before it was overtaken by Microsoft and Apple. The tech trio's market capitalizations have been neck-and-neck for several months. Microsoft's market value stood at nearly $3.16 trillion, with its stock up 1.25 per cent on November 7.
