Nvidia hits all-time high - Shares rise over 50% in two months, boosted by demand for AI
Nvidia shares hit record highs, temporarily making it the world's most valuable company. The surge was fueled by strong demand for artificial intelligence chips and investment in the sector.
Shares of artificial intelligence chipmaker Nvidia hit a new record high, temporarily giving the company a market value of $3.92 trillion, the highest in history for any company.
This moment surpassed the previous record set by Apple in December 2024, with a market capitalization of $3.91 trillion, although Nvidia's value fell back slightly below this level at the end of the trading day.
The company's shares reached a high of $160.98 per share during the day, before falling slightly, putting its market value at around $3.89 trillion.
Technology companies benefited from a better-than-expected U.S. nonfarm payrolls report, a sign of the strength of the U.S. economy. That upbeat sentiment was bolstered by expectations that corporations will continue to invest in expanding artificial intelligence, boosting demand for Nvidia chips.
Nvidia shares have surged more than 50% in less than two months. Analysts expect the company to eventually break the record and maintain its high value even at the market close.
After all the gloomy predictions that this could be the year artificial intelligence would stall, Nvidia has picked up speed. The company is on the verge of breaking a coveted record, becoming the most valuable company in history.
Currently, Nvidia's value is more than three times greater than the capitalization of the entire stock market in Spain and over four times higher than that of the Italian stock exchange.
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