Nvidia Surges to Record High as Market Cap Tops $3.4 Trillion
On Monday, Nvidia shares hit a record high, closing at $138.07 as Wall Street eagerly awaits earnings updates from tech giants such as Microsoft, Meta, Google, and Amazon, particularly in relation to their AI infrastructure spending.
The surge in Nvidia’s stock price has been nothing short of remarkable, with a nearly 180% increase this year alone, building on last year’s rapid climb. This upward trajectory underscores Nvidia’s dominant position in the AI chip market, where estimates from Mizuho Securities suggest the company controls between 70% to 95% of the market share. With a market capitalization of $3.4 trillion, Nvidia now stands as the second-most valuable U.S. company, trailing only behind Apple.
Driving this success is Nvidia CEO Jensen Huang, whose net worth is now estimated at $121.5 billion, according to Forbes. The momentum shows no signs of slowing down, as demand for Nvidia’s current chips remains strong. Huang recently revealed that the company is experiencing overwhelming interest in its upcoming Blackwell chips, set to be released in the fourth quarter. Morgan Stanley reports that these chips are already sold out for the next year, highlighting the anticipation and market demand for Nvidia’s cutting-edge technology.
