Posted 3/1/2024, 9:30:47 PM
Nvidia Stock Surpasses $2 Trillion Valuation on Booming Demand for AI Chips
- Nvidia's stock market valuation closed above $2 trillion for the first time on Friday
- The rally was fueled by an upbeat report from Dell Technologies about surging orders for AI-optimized servers using Nvidia chips
- Nvidia is now Wall Street's 3rd most valuable company behind Microsoft and Apple
- Nvidia controls about 80% of the high-end AI chip market with customers like Microsoft and Alphabet
- Nvidia's stock has risen 66% so far in 2023 after more than tripling last year