Nvidia's $500 billion surge

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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 company1. 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 microservice2. 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 share3. 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 faster1. Nvidia's stock surge has also enriched its largest shareholders. For instance, the net worth of cofounder and CEO Jensen Huang has significantly increased1. 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 billion1. 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.
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
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