Reported 5 months ago
Nvidia's shares surged more than 9% after a bumper revenue forecast solidified investor trust in the chip demand boom driven by AI. The company's market value increased by around $218 billion, marking the second-largest single-day market cap gain in Wall Street history. Nvidia's stock split announcement and increased quarterly dividend highlight the continued high demand for its high-end chips, with its market cap reaching $2.55 trillion, rivaling top U.S. companies like Apple and Microsoft. The company's shares have soared nearly 110% in 2024, defying a broader stock market decline, as TSMC predicts 10% annual growth in the global semiconductor industry excluding memory chips.
Source: YAHOO