2024

Trillion

Nvidia Corporation<a href="https://www.cryptopolitan.com/nvidias-meteoric-rise-a-fundamental-shift/" rel="noopener noreferrer nofollow"> has reached a historic milestone, </a>crossing the $2 trillion market value threshold for the first time. The surge came from an optimistic report from Dell Technologies, which buoyed Wall Street’s enthusiasm for AI-related investments.
Dell Technologies’ rosy outlook, particularly regarding the surge in orders for its AI-optimized servers, propelled Nvidia’s stock to a 4 percent increase. These servers, powered by Nvidia’s processors, are in high demand as businesses increasingly leverage AI capabilities.
<h2 class="wp-block-heading" id="nvidia-emerges-as-a-dominant-force-in-the-ai-chip-market">Nvidia emerges as a dominant force in the AI chip market</h2>
With approximately 80 percent control over the <a href="https://www.cryptopolitan.com/how-nvidias-ai-factories-transform-data/" rel="noopener noreferrer nofollow">high-end AI chip market,</a> Nvidia is a pivotal player in the tech landscape. Key clients, including OpenAI, Microsoft, Alphabet, and Meta Platforms, are among those clamoring for Nvidia’s components to stay competitive in the rapidly evolving generative AI sector.
The ripple effects of Nvidia’s success were felt across the chip industry, with other players experiencing significant gains. Broadcom and Marvell Technology, both exposed to AI, soared to record highs, signaling broader market confidence in the sector’s growth potential.
Super Micro Computer, a company specializing in servers equipped with Nvidia’s chips, saw a 4.5 percent increase in its stock value. Meanwhile, Advanced Micro Devices climbed over 5 percent, underscoring the widespread optimism surrounding AI-related investments.
The PHLX chip index surged by 4.3 percent to its own record high, reflecting the collective strength of chipmakers in the wake of Nvidia’s milestone. The index’s 2024 gain now stands at an impressive 18 percent, further highlighting investor confidence in the sector.
<h2 class="wp-block-heading" id="nvidia-overtakes-tesla-as-wall-street-s-most-traded-stock">Nvidia overtakes Tesla as Wall Street’s most-traded stock</h2>
In a remarkable turn of events, Nvidia has surpassed Tesla as the most traded stock by value on Wall Street. Over the past 30 sessions, investors exchanged an average of $36 billion worth of Nvidia’s stock daily, compared to $21 billion for Tesla. Trading in Nvidia reached a staggering $38 billion on Friday alone.
Nvidia’s meteoric rise has been nothing short of extraordinary. The company added a staggering $277 billion in stock market value in a single session on February 23, setting a new Wall Street record. This growth comes on the heels of Nvidia’s forecast of a threefold surge in quarterly revenue, propelling its stock to new heights.
Despite already boasting a 66 percent increase in stock value in 2024, Nvidia shows no signs of slowing down. Its trajectory mirrors last year’s performance, during which its stock value more than tripled. Notably, Nvidia’s market capitalization recently surpassed that of tech giants Amazon and Alphabet, further solidifying its position as a market leader.
While Nvidia’s $2.06 trillion market capitalization places it among the top three most valuable companies on Wall Street, Saudi Aramco remains a formidable competitor. With a market capitalization of $2.045 trillion, Saudi Aramco holds a significant portion of its shares, limiting investor trading opportunities compared to Nvidia.
Nvidia’s ascent to a $2 trillion market value signifies a landmark achievement in AI-driven technologies. With strong demand for its AI-optimized servers and continued dominance in the high-end AI chip market, Nvidia is poised for sustained growth in the foreseeable future.

Nvidia Surges Past $2 Trillion Mark Following Dell’s Upbeat Forecast

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