Publicly available financial data from stock exchanges and financial news outlets

Nvidia Stock Hits New High Above $140; Market Cap Reaches $3.5 Trillion, Nearing Apple by $70B

Oct 21, 2024, 07:21 PM

Nvidia Corporation's (NVDA) stock has surged above $140 to new all-time highs, closing at a record on October 21, 2024. The company's market capitalization has reached $3.5 trillion, making it the second most valuable company in the world and putting it within $70 billion of surpassing Apple Inc. (AAPL) as the most valuable company globally. Nvidia's CEO, Jensen Huang, now has a personal net worth exceeding $120 billion, surpassing the entire market capitalization of Intel Corporation (INTC). Investors are showing strong bullish sentiment, with significant out-of-the-money call option buying, indicating expectations of further stock price increases. The stock has more than tripled over the past year, including a 59% gain since August when it traded at $90. Nvidia's rapid growth is attributed to increasing demand for artificial intelligence (AI) technologies, and the company is expected to release its earnings report next month. There is speculation that Nvidia could reach a $4 trillion market cap by year-end.