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Nvidia Stock Reaches $1,100, Market Cap Surpasses $2.8 Trillion After 4.4% Surge
May 28, 2024, 08:55 AM
Nvidia's stock has surged to unprecedented levels, reaching a new all-time high of $1,100 in overnight trading. The company's market capitalization has now surpassed $2.8 trillion, making it more valuable than the entire German stock market, which is valued at approximately $2.5 trillion. Nvidia's recent earnings report has solidified its dominance among Big Tech stocks, contributing to a $348 billion increase in market value this week alone. The stock has also achieved a 10-for-1 split, set to take effect on June 7th. Nvidia's market cap has grown by $1.6 trillion this year, and it is now worth more than Amazon and Tesla combined. The company continues to expand its product line with new GPUs and AI networking solutions, further driving investor optimism. Nvidia's stock surged 4.4% at the New York open following Memorial Day. Analysts predict a 258% upside, potentially propelling Nvidia to a $10 trillion valuation by 2030.
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