Nvidia hits $3 trillion market cap on back of AI boom
What was Nvidia's market cap during intraday trading on the recent Wednesday mentioned in the article?
During intraday trading on the recent Wednesday mentioned in the article, Nvidia's market cap surpassed $3 trillion. This milestone was reached as investors continue to show interest in the company responsible for making most of the chips powering the AI boom.
By how much is Nvidia expected to increase its revenue in the current quarter according to the article?
According to the article, Nvidia is expected to increase its revenue by about $2 billion in the current quarter, as it reported overall sales of $26 billion and said it would report revenue of about $28 billion in the current quarter2.
How does Nvidia's five-year stock performance compare in terms of percentage increase?
Nvidia's five-year stock performance has been remarkable, with shares up more than 3,224% over the past five years. This increase can be attributed to the company's central role in the boom of generative artificial intelligence and the high demand for its graphics processing units (GPUs) used in developing and deploying large AI models. This significant growth has led Nvidia to surpass a $3 trillion market cap, becoming the second-largest public company behind Microsoft and ahead of Apple. The company's strong financials and its position in the AI chip market, with an estimated 94% share last year, are expected to support continued growth in the future.