Nvidia dethroned Apple as the world’s most valuable company on Friday, following a record-setting rally in the stock powered by an insatiable demand for its
Nvidia’s shares hit a record high on Tuesday, building on a rally from last week when TSMC, the world’s largest contract chipmaker, posted a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in AI.forecast third-quarter revenue of $32.5 billion, plus or minus 2%, compared with the current average analyst expectation of $32.90 billion, according to data compiled by LSEG.
After a meeting with Nvidia’s CEO Jensen Huang, Moore noted the ramp up in production of its next-generation Blackwell chips appeared to be “quite strong” and are booked out for 12 months. The stock came under pressure in August after Nvidia confirmed reports that the production of Blackwell chips was delayed until the fourth quarter.
Nvidia’s massive gains have helped boost the stock’s appeal for option traders and the company’s options are among the most traded on any given day in recent months, according to data from options analytics provider Trade Alert.