According to Bloomberg’s report, the stock price of Nvidia surged by 2.9% on February 12th, catapulting its market value to a staggering $1.83 trillion. This surpassed Amazon, whose market value stood at $1.80 trillion, making Nvidia the fourth-largest company in the United States, trailing Alphabet ($1.85 trillion), Apple ($2.9 trillion), and Microsoft ($3.11 trillion). This marks the first time in 20 years that Nvidia’s market value has surpassed that of Amazon.
Nvidia’s stock price has remained relatively stable throughout the latter half of 2023, but it quickly soared in the early months of the new year, experiencing a nearly 50% increase. In just this year alone, Nvidia’s market value has surged by $600 billion, exceeding its growth in the last seven months of 2023. This clearly indicates the continuous popularity and success of Nvidia’s chip manufacturing business for data center applications in artificial intelligence (AI).
TLDR: Nvidia’s stock price surged by 2.9%, elevating its market value to $1.83 trillion and surpassing Amazon. Its market value has increased by $600 billion this year, indicating the ongoing demand for its AI chip technology.
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