With one of the largest one-day gains in the conventional financial market, Nvidia Corp (NASDAQ: NVDA) is poised to create financial market history. On Thursday, the share price of the chip designer skyrocketed, extending the rise. Nvidia's market capitalization is already close to $1 trillion thanks to this enormous upswing. The share prices of other AI firms may also rise, according to experts, because of this jump.
The Price ZOf Nvidia Stock Rises By 25%
The stock price of Nvidia Corp. (NASDAQ: NVDA) rose by a whopping 30% in pre-market trading, according to the statistics. In the same session, the share price of the chip manufacturer, which was $305.38, was valued at about $394.12. At the time of publication, the share is up 24% in value from the session's average price of $378. However, the price has increased 168% so far this year.
Nvidia's market value will likely increase by about $210 billion, reaching about $970 billion.
It is significant to emphasize that the global financial crisis provides the backdrop to this enormous increase. Huang, the CEO of the semiconductor manufacturer, anticipates a massive record year. According to data, the company predicted sales of $11 billion for the three months ending in July. According to reports, this is 50% higher than what Wall Street had previously predicted.
According to sources, sales are increasing as a result of the rising demand for graphics processors (GPUs) made by Nvidia. Google, Microsoft, and OpenAI heavily rely on these CPUs to run their artificial intelligence (AI) applications.