Nvidia Stock Jumps 26% to New record high
Nvidia shares soared to a fresh record, putting the chip giant on pace to reach a market value of nearly $1 trillion!
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@nvidia Stock Jumps 26% to New High as Chip Maker Approaches $1 Trillion Valuation
Company could notch largest one-day gain in market capitalization for any U.S. firm!!#NVIDIA #StocksToBuy pic.twitter.com/ikh4WWlPYv— The_Journalbiz (@the_journalbiz) May 25, 2023
The stock rose as much as 26.4% to $385.99 in early Thursday trading, the largest one-day percent increase for Nvidia since 2016.
Nvidia is benefiting from the rise of artificial intelligence tools
If the gains hold through Thursday trading, the graphics chip maker could beat Amazon for the largest one-day gain in market capitalization of any U.S. company. It would need to close at $382.82 or higher to surpass Amazon’s record on Feb. 4, 2022.
As Nvidia gears up for an AI-driven sales boom, the chip maker is getting closer to joining an exclusive club: the handful of globally listed companies with a $1 trillion-plus valuation.
Nvidia (NVDA)’s stock has surged in recent months, lifting the company’s market capitalization above other heavyweights such as Warren Buffett’s Berkshire Hathaway and Meta Platforms.
- At Wednesday’s close, Nvidia’s market cap was about $754 billion, according to Dow Jones Market Data.
In recent trading, Nvidia’s shares stood more than 20% higher, at around $378. To get to $1 trillion, the shares would need to close at $404.86, according to Dow Jones Market Data.
