The chip maker’s shares rise 2.5%, after becoming the fourth most valuable American company.
Nvidia briefly overtook Amazon.com Inc in market capitalization this Monday, February 12, when the euphoria around artificial intelligence led the chipmaker to become the fourth most valuable American company.
With an all-time high of $736.43, Nvidia had a market value of $1.82 trillioncompared to the 1.81 billion of the retail giant Amazon.com already a few billion of the 1.87 trillion dollars of Alphabetowner of Googleaccording to LSEG data.
The chip maker’s shares rise 2.1%, while those of the ecommerce company they fall 0.6%.
Nvidia advances steadily and becomes the fourth most valuable company in the US
The last time Nvidia was more valuable than Amazon was in 2002when each one was worth less than 6 billion dollars.
After what Amazon recorded higher-than-expected sales last month in the Christmas quarter, Investors Await Nvidia’s Quarterly Results on February 21the last of the mega-cap firms to present results this season.
Nvidia shares soared almost 50% in the first month and a half of the year
Expectations for the report are high, and its shares are up 47% so far this yearmaking it the biggest gainer among the S&P 500 components.
The quarterly results and the solid forecasts of Nvidia a year ago they established that the chip designer was in the first position in supplying technology companies working on the so-called Generative AIsuch as chatbots and image creation.
The bet on strong demand for AI skyrocketed Nvidia sharesmaking it the value with the best performance of the so-called “Magnificent Seven”with a 223% increase in the last 12 months. Meta Platforms came second place, with an increase of 163%.
Microsoft surpassed Apple in January to become the most valuable company in the worldwith Alphabet in third place.
Source: Ambito
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