Nvidia Stock Skyrockets 290% on Investor Enthusiasm for A.I. Technology, Making It 3rd Most Valuable Public Company
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Nvidia designs chips that power artificial intelligence and its stock has skyrocketed over the past year, making it the 3rd most valuable public company.
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Enthusiasm for A.I. is driving up stock prices for Nvidia and other tech companies like Microsoft, Meta, Alphabet, AMD, Taiwan Semiconductor, and Intel.
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Nvidia's share price has increased about 290% in the last 12 months, causing some on Wall Street to question if its growth is sustainable.
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Nvidia's gains have implications for the broader stock market since it's seen as a leader in A.I. technology.
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Nvidia's current market valuation is over $2.2 trillion, putting it behind only Microsoft and Apple in size.