Nvidia’s shares have increased by 40% in the stock market in just one month in 2024. On February 7, Nvidia’s shares closed at 705 USD and gained a market capitalization of $1.73 trillion. Nvidia misses out on surpassing e-commerce giant Amazon’s $1.77 trillion market value by 3%.
Nowadays, the era of artificial intelligence (AI) is going on and there is talk of AI everywhere. Due to this, shares of all AI Tech Giant companies are rising rapidly in the stock market. Recently, Facebook Meta Shares also grew by 20% in a single day. Even in January, Microsoft overtook Apple to become the world’s most valuable company.
Recently news is coming out that Nvidia’s shares have seen a huge jump in just one month. Nvidia is on the verge of crossing Amazon’s $1.77 trillion market value for the first time in 2 decades. Nvidia’s shares are moving so fast due to the trend of Artificial Intelligence.
Today Nvidia’s shares have reached $696.41 at the beginning of 2024. Nvidia’s market capitalization has reached $1.73 trillion, which is only 3% less than Amazon’s market cap of $1.77 trillion. The last time Nvidia was ahead of Amazon in market cap was in 2002 at a valuation of $6 billion, but after that, Amazon has been ahead for 20 years.
On Wednesday, February 7, Morgan Stanley increased the target price on Nvidia’s stock, due to which Nvidia’s stock increased by 2.75% and closed at $700.99. Nvidia’s shares had increased by more than three times in 2023, which is a good thing. Recently Nvidia has become the fifth most valuable company in the US stock market after Microsoft, Apple, Alphabet, and Amazon.
But Nvidia’s market cap is 6% less than Google Alphabet’s $1.82 trillion value. Currently, chipmaker company Nvidia is going to present its quarterly results on February 21, and if everything is positive then Nvidia’s shares are going to skyrocket.
The second reason for the rise in Nvidia’s stock is the promotion of artificial intelligence (AI) and the indiscriminate sale of their graphics processors. The news is coming that to further increase their artificial intelligence performance, Meta Platform and other big tech companies have purchased Nvidia’s graphics processors worth billions of dollars.
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Nvidia’s graphics processors are their biggest hit product. Nvidia has also made major changes in its products keeping artificial intelligence in mind, which the company is benefiting from today. Right now, one has to wait for months to buy Nvidia’s graphics processor.
So Nvidia has taken over the entire graphics processor market, wouldn’t you like to invest in Nvidia shares?