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Nvidia shares break records: + $400 billion in five days

October, 09 2024
watermark Economic news

The recent surge in interest in artificial intelligence has led to a meteoric rise in Nvidia shares. Over the past five trading sessions, the share price has increased by 14%, and on Wednesday it continues to grow by almost 1% at the upcoming auction. 


Since the opening of trading last Wednesday, the company's market capitalization has increased by $400 billion, reaching $3.26 trillion.


Nvidia is now more expensive than Microsoft and is second in value only to Apple among the world's public companies. Over the past week, the company has added $400 billion to its value, which is more than the value of Costco, whose revenue last year was $254 billion.


Nvidia shares have increased by about 170% this year, and by almost 800% since the beginning of 2023. The founder and CEO of the company, Jensen Huang, became one of the richest people in the world, his fortune grew from $14 billion to $106 billion in two years.


Investors' optimism is linked to the new Blackwell chip, which Huang called the «engine of the new industrial revolution.»


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.