Nvidia added $277 billion in stock market value on Thursday, the largest one-day gain in history, after the chipmaker’s quarterly report beat expectations which reignited a rally in shares fueled by optimism about artificial intelligence.
Intel (remember them?), peddlers of snail-like hotplates, is currently worth a whole $182 billion in its entirety. 😆
Noel Randewich and Medha Singh for Reuters:
The company’s stock soared 16.4% to close at $785.38, a record-high close, lifting its market capitalization to $1.96 trillion after its January-quarter report late on Wednesday showed demand for its specialized chips used in AI computing continued to outpace analysts’ already-high expectations.
Nvidia’s one-day increase in stock market value was the largest in Wall Street’s history, easily beating a record $196 billion gain by Meta Platforms on Feb. 2 after the Facebook parent declared its first dividend and posted robust results.
Its gain made Nvidia the U.S. stock market’s third-most valuable company, pulling ahead of Amazon.com and Alphabet after jockeying with the two tech powerhouses in recent weeks.
Microsoft and Apple, valued at $3.06 trillion and $2.85 trillion, respectively, are Wall Street’s two most valuable companies.
MacDailyNews Take: The AI Gold Rush continues!
(Apple, currently scrambling to play catch up in AI, was up a mere 1.12% for the day).
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Jeez, do I ever regret selling NVDA at just over 300. I bought relatively cheap, but still! Didn’t think there was THAT much run left in it…
We bought some yesterday. I wish we would have bought more. I said the same thing to my husband about Apple when it was under $20 a share!!!
Bought in at $18 in 1997!
AAPL is the biggest AI stock, it’s just that nobody realizes it yet.
Apple’s platforms are the best place for most generative AI., and other types of ML/AI.
I’d like to believe this but for now Nvidia is skyrocketing on its insanely in-demand hardware/software combo. Apple will be lucky to catch up to what others are already doing by later this year. I don’t see them suddenly quadrupling the demand for their products. Nvidia gained as much in value today as Apple sells in iPhones in a year.
Apple cheerleading opinion offering zero strategy or facts.
The computers that use Nvidia and more advanced chipsets and cards are the gold standard for gamers and visual artists in a wide variety of professions. Not beautifully sleek Apple overpriced hardware with built in upgrade disabilities.
Whatever you mean by “best place” fanboy — no evidence thus far and Apple way behind the rest of the industry in AI as usual under me-too Cook, daily distracted by iPhone profits and revolving door of executive/designers departures — so I just don’t see it…
Apple beats estimates and their stock goes down – Hate the stock market. You will say that China was down but they beat expectations even with that which is impressive but down goes the stock..