AI fever drives Nvidia’s rise to world’s most valuable company

NEW YORK - Nvidia has become the world’s most valuable company following a staggering rally in its shares, underlining the outsized role investors expect artificial intelligence to play in the global economy over coming years.

Microsoft, one of the two other companies to reach those rarefied levels, took 945 days to go from $2 trillion to $3 trillion while Apple took 1,044 days to make the leap, according to Bespoke Investment Group. Exxon Mobil became the world’s most valuable company in the 2000s but its shares retreated following a downturn in oil prices.

For now, Nvidia’s earnings are supporting its stock price. Revenue more than tripled to $26 billion in the latest quarter, while net income jumped seven-fold to $14.9 billion. While Nvidia has been the standout performer, it is not the only stock to benefit from enthusiasm about the profit potential for AI. Shares of other technology companies, including Super Micro Computer and Arm Holdings, have also risen sharply this year.TD may still be discounted, but there other great options to buy right now. Here's a top pick better than TD Bank stock right now. The post 1 Dividend Superstar I’D buy over TD Bank Stock appeared first on The Motley Fool Canada.

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