According to Bloomberg’s report, Nvidia’s stock price surged by 2.9% on February 12th, pushing its market value to a staggering $1.83 trillion, surpassing Amazon’s market value of $1.80 trillion, making it the fourth highest-valued company in the United States, after Alphabet ($1.85 trillion), Apple ($2.9 trillion), and Microsoft ($3.11 trillion). This is the first time in 20 years that Nvidia’s market value has surpassed Amazon’s.
Nvidia’s stock price has been relatively stable throughout the second half of 2023, but has experienced a rapid upward trend in the early part of this year, increasing by almost 50%. In just this year alone, Nvidia’s market value has grown by $600 billion, surpassing its growth in the last seven months of 2023. This indicates a consistent popularity for Nvidia’s chip processing business for data centers used in artificial intelligence applications.
TLDR: Bloomberg reports that Nvidia’s stock price experienced a 2.9% surge, reaching a market value of $1.83 trillion and surpassing Amazon. This positions Nvidia as the fourth highest-valued company in the US. The company’s market value has increased by $600 billion in just one year, pointing to a continuous demand for its chip processing business in AI applications.
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