From Nasdaq:

Nvidia’s stock market value surpassed $2 trillion for the first time after Dell’s positive forecast caused a 4% surge in Nvidia’s stock. Dell’s shares also soared by 32%, contributing to the rally. Nvidia now ranks as the third most valuable company on Wall Street, behind Microsoft and Apple.

The PHLX chip index hit a record high, with other chipmakers like Broadcom and Marvell also seeing significant gains. Nvidia dominates the high-end AI chip market, with customers including Microsoft, Alphabet, and Meta Platforms. The company has become the most traded stock on Wall Street, surpassing Tesla.

Nvidia’s stock has risen by 66% in 2024, following a remarkable increase last year. Trading volume in Nvidia reached $38 billion on Friday. The company added $277 billion to its market value in one session after forecasting a significant revenue surge. Nvidia now exceeds the market value of Amazon and Alphabet.

Although Saudi Aramco has a market capitalization of $2.045 trillion, most of it is government-held, with minimal shares available for trading by investors. Last month, Nvidia briefly exceeded a $2 trillion market value before experiencing a slight dip at the session’s close.



Read more at Nasdaq: Nvidia closes with $2 trillion valuation as Dell stokes AI rally