Breaking news: Nvidia (NASDAQ: NVDA) stock has reached a milestone by becoming only the third U.S. public company to surpass the $3 trillion market cap mark. This achievement follows Apple in January 2022 and Microsoft in January 2024. Many investors now predict that Nvidia will soon surpass Microsoft to claim the top spot in market cap.
Let’s delve into the factors that propelled Nvidia stock to this remarkable height and explore what lies ahead for this leading chipmaker.
The Nvidia GB200 Grace Blackwell Superchip. Image source: Nvidia.
Leading the way in chipmaking
Nvidia has been a standout performer in recent years, fueled by the growing interest in artificial intelligence (AI). However, it’s worth noting that not long ago, investor sentiment had soured on Nvidia. For instance, between November 2021 and October 2022, Nvidia stock plummeted over 66% due to macroeconomic challenges. Despite this, the company has…
2024-06-05 20:21:10
Link from finance.yahoo.com