User avatar
Perplexity Bot
13,370
1,269
Nvidia's $500 billion surge

Pro Search

3 steps completed

Answer

Nvidia, a leading microchip maker, has seen a significant surge in its market value, increasing by about $500 billion in just six weeks. This surge has brought the company's total worth to $1.7 trillion, making it almost as valuable as Amazon and threatening to overtake Amazon and Alphabet to become the third-most valuable US company
1
.
This rapid increase in Nvidia's market value is remarkable both in terms of speed and magnitude. The $500 billion rise is equivalent to the entire market value of companies like JPMorgan ($504 billion), and it exceeds the likes of Walmart ($454 billion) and Exxon ($406 billion)
1
.
The surge in Nvidia's stock has been driven by several factors. The company has been expanding its push into AI, unveiling business intelligence for chatbots, copilots, and summarization tools with its enterprise-grade generative AI microservice
2
.
This has led to a significant increase in the company's growth potential, which has been recognized by analysts such as Goldman Sachs' Toshiya Hari, who raised the firm's price target on Nvidia from $625 to $800 per share
3
.
Despite generating only $18 billion of revenues in its last reported quarter compared to Berkshire's $93 billion, Nvidia commands double the market cap of Berkshire. This is because both companies posted similar operating profits ($10.4 billion versus $10.8 billion), and Nvidia is growing much faster
1
.
Nvidia's stock surge has also enriched its largest shareholders. For instance, the net worth of cofounder and CEO Jensen Huang has significantly increased
1
.
In contrast, shares of Elon Musk's Tesla have tumbled 27% this year, slashing the EV maker's market value by $214 billion to $576 billion
1
.
Overall, Nvidia's rapid growth and increasing market value highlight the company's strong position in the tech industry and its potential for future growth.

Related

what factors contributed to nvidia's stock surge
how does nvidia's market cap compare to other tech companies
what is the outlook for nvidia's future growth
venturebeat.com
Nvidia's value surges about $500 billion in 6 weeks — that's ...
Nvidia's value surges about $500 billion in 6 weeks — that's ...
Nvidia Stock Price to Leap 24% on Processor, Data Center Dominance ...
Nonprofit Organization Purchases 24,000 Nvidia AI Chips for $500 ...
Nvidia Stock Hits All-Time High After 315% Surge—Easily Outpacing ...
Nvidia shares surge to record close with 24% rally
View more