Nvidia's stock market value is nearly $2.6 trillion. How it rose to AI prominence, by the numbers
Nvidia’s stock price has more than doubled this year, increasing the company’s market value by more than $1.3 trillion
Nvidia’s stock price has more than doubled this year as of the close of trading Thursday, increasing the company’s market value by more than $1.3 trillion. Those numbers are headed higher again Thursday after the company reported better-than-expected quarterly results.
The chipmaker has seen soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. The company's revenue more than tripled in the latest quarter from the same period a year earlier.
It's the latest sign that the excitement surrounding artificial intelligence likely won’t subside anytime soon. Nvidia, which has positioned itself as one of the most prominent players in AI, has been producing some eye-popping numbers. Here’s a look:
That's the increase in Nvidia's market value on Thursday alone. Notably, it's only the second-biggest one-day gain in the company's market value this year following a record jump of $273 billion on Feb. 22. Thursday gains came after Nvidia said net income rose more than sevenfold compared to a year earlier, jumping to $14.88 billion in its first quarter that ended April 28 from $2.04 billion a year earlier.
The amount Nvidia's market value has increased so far this year, according to FactSet. In other words, Nvidia's year-to-date gain is more than equal to the market value of Facebook and Instagram parent Meta Platforms. In all, just six of the 500 companies in the S&P 500 have market caps above $1.152 trillion, including Nvidia.
Nvidia’s total market value as of the close of trading Thursday. Earlier this year, it passed Amazon and Alphabet to become the third
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