In early trading on Wednesday, Nvidia’s stock increased 2.5%, or $3.97, to surpass $164 a share. Nvidia’s stock was trading at about $14 per share at the start of 2023. Nvidia, the AI boom’s poster child, has surpassed Google parent firm Alphabet, Apple, Microsoft, and Amazon to become the world’s most valuable corporation. Except Apple, the movement of the stock has a greater impact on the S&P 500 and other indices.
Nvidia’s market worth was less than $600 billion (€512 billion) two years ago. Nvidia overcame tariff-driven volatility in its most recent quarter to report another quarter of strong growth in the face of fervent demand for its powerful AI processors.
During that time, Nvidia made $18.8 billion (€16 billion), or 76 cents per share, a 26% increase over the same period the previous year. Revenue reached $44.1 billion (€37.6 billion) up 69% over the previous year. Nvidia would have made 96 cents per share, far more than the 73 cents per share that experts had predicted, if it hadn’t had to absorb a $4.5 billion (€3.8 billion) penalty to cover the US government’s limitations on its chip shipments to China.
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