Nvidia Breaks New Ground with USD5 Market Value
(MENAFN) Nvidia reached an unprecedented milestone on Wednesday, becoming the world’s first publicly traded company to surpass a $5 trillion market capitalization, driven by surging global demand for artificial intelligence (AI) technology.
Shares of the California-based chipmaker rose 5.1% as of 1340 GMT, extending a rally that has reshaped the tech sector amid a relentless AI boom.
The record comes just months after Nvidia became the first company in history to cross the $4 trillion mark in July, underscoring the pace of its meteoric growth.
US equities have also ridden the wave of AI-fueled optimism. On Tuesday, major indexes closed at all-time highs for a second straight session, with Apple and Microsoft each climbing beyond $4 trillion in market value.
Founded in 1993, Nvidia’s market ascent accelerated sharply this year — passing $2 trillion in February 2024, then $3 trillion in June, before hitting Wednesday’s historic benchmark.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
