From Nasdaq: 2024-06-05 16:18:12

Shares of Nvidia (NASDAQ: NVDA) surged 5.2%, pushing its market cap above $3 trillion. Nvidia benefits from being a leader in AI with GPUs. TSMC’s latest AI chipmaking technology purchase includes Nvidia as a top customer. Hewlett Packard Enterprise exceeded expectations due to growing AI demand, indirectly benefiting Nvidia.

Nvidia’s stock split and generative AI adoption drive excitement. McKinsey & Company expects the AI market to range from $2.6-4.4 trillion. Despite gains, there’s potential for Nvidia to grow further. The Motley Fool didn’t list Nvidia in its 10 best stocks but highlighted the potential for monster returns with other picks.

Investors consider Nvidia’s long-term growth potential. Past performance shows Stock Advisor recommendations yielding significant returns since 2002. The author holds positions in Nvidia, while The Motley Fool recommends and holds positions in ASML, Nvidia, and Taiwan Semiconductor Manufacturing.



Read more at Nasdaq: Why Nvidia Stock Blasted to a $3 Trillion Market Cap on Wednesday