Nvidia’s stocks experienced a surge and its market value surpassed Alphabet, just a day after surpassing Amazon, making it the third most valued company globally.
Nvidia’s market value now only trails behind Apple and Microsoft. The company’s impressive growth can be attributed to its position as a top player in the AI chip market, benefiting from the increasing use of AI in technology products and services.
Nvidia’s recent success comes ahead of its upcoming quarterly reports, which investors are eagerly anticipating.
Analysts predict that the company’s revenue and net profit will more than triple in the January fiscal quarter, driven by the high demand for its AI chips.
Overall, Nvidia’s stocks have experienced significant growth, particularly in the last year, with a substantial increase on the S&P 500 index and a spike of 49% in the first two months of 2024.
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