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Nvidia surges past $1 trillion valuation amid boom in AI interest

Published May 30, 2023 06:59AM ET Updated May 30, 2023 09:51AM ET
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Investing.com -- Nvidia's (NASDAQ:NVDA) valuation rose above $1 trillion after the stock jumped by more than 4% on Tuesday, as a frenzy for artificial intelligence has powered a fresh surge in the chipmaking giant.

The move makes California-based Nvidia only the ninth company to ever top the trillion-dollar mark.

Shares were given a further boost on Monday after Chief Executive Jensen Huang unveiled a new supercomputing platform in a bid to take advantage of a recent scramble to harness AI technology. In a speech in Taiwan, Huang said that a "tipping point" had been reached in computing that will allow "everyone" to become a programmer.

The remarks came after a sharp increase in Nvidia shares over the past week made the firm the world’s most valuable semiconductor manufacturer.

The rally was driven in part by a full-year forecast that blew past expectations, which Nvidia said was thanks to rapidly increasing interest in AI development. 

Nvidia surges past $1 trillion valuation amid boom in AI interest
 

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Comments (20)
Charles Manson
Charles Manson Jun 01, 2023 9:05AM ET
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AI, like Firearms, are not the problem. It is the people who will be using it. Period.
Charles Manson
Charles Manson May 31, 2023 9:27AM ET
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1Trillion Dollars?? Better Odds on a Crap Table at a greasy hotel in Northern Vegas. This is the "Pet Rock" phenomenon of 2023. Whoooo ... Gotta have AI. Lots of Corporates Jets and Big Homes being purchased by this Huang dude working on his Lap Top while his little sister ironing his shirts.
Charles Manson
Charles Manson May 31, 2023 9:06AM ET
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https://www.cbsnews.com/news/lawyer-chatgpt-court-filing-avianca/?intcid=CNI-00-10aaa3b. Wouldn't put all my eggs in AI as of yet. The article above details how AI will manipulate information. Wouldn't want AI to diagnose my Heart Condition.
First Last
First Last May 31, 2023 9:06AM ET
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AI is created by human intelligence, so gotta expect some flaws of the creator in the created.
Jay Garrelts
Jay Garrelts May 31, 2023 1:35AM ET
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When crypto crashes I wonder hiw that will affect the price lol
Kevin Parker
Kevin Parker May 30, 2023 11:55AM ET
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The executives should really be praising the team from 15 years ago that decided, hey why don't we write API's to use the GPU for something other than graphics operations. Those bonuses should go to the real investors and visionaries at Nvidia.
Scott Allen
Scott Allen May 30, 2023 11:42AM ET
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how convenient that this happens at the end of the month? that fund managers can show their clients that they are "making money" .... pay attention folks, this is the scam of Wall Street right here, on display perhaps more clearly than we've seen in a while. and I hope the reports are true that retail investors at least up until now have not really been buying into this rally. that all but proves what I've been saying for a while, Wall Street is pumping this crap and it's a total and absolute scam, like most of their BS. I pity anyone taking this at face value.
First Last
First Last May 30, 2023 11:42AM ET
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'fund managers can show their clients that they are "making money"' at the beginning or middle of the month, too.  You're seeing boogeymen everywhhere.
Axonius Axonius
Axonius Axonius May 30, 2023 11:26AM ET
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They were fined last year for misleading guidance.PE ratio of 212 right now. Forward PE ratio is 40 - and is based on the recent fake guidance. No one has outlined how AI will make money.
Chih Pin Wu
Chih Pin Wu May 30, 2023 11:26AM ET
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Stock say is me
Gayle Williams
Gayle Williams May 30, 2023 11:08AM ET
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this company has become grossly overpriced! on top of that, they don't pay even a modest dividend.
First Last
First Last May 30, 2023 11:08AM ET
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Growth stocks  not paying much dividend is normal.
João Carlos
João Carlos May 30, 2023 10:37AM ET
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insanity bubble
Martin Babei
Martin Babei May 30, 2023 10:20AM ET
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Be careful folks. Market conditions are getting worse every day. China is a black swan. This market will crater very soon, catching you with your pants off. Plus Nvidia is prepping a huge domp
 
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