FILE - A sign on the Nvidia office building is shown in Santa Clara, Calif., on May 31, 2023. On Wednesday, June 5, 2024, Nvidia’s market value toppped $3 trillion amid soaring demand for its semiconductors in AI applications. stock price has more than doubled this year after more than tripling in 2023 and it’s now the third most valuable company in the S&P 500. Nvidia’s stock rose again Wednesday to touch $3 trillion in market value.
The company is also about to undergo a stock split that will give each of its investors nine additional shares for every one that they already own. The chipmaker has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications. The company’sNvidia, which has positioned itself as one of the most prominent players in AI, has been producing some eye-popping numbers. Here’s a look:Nvidia’s total market value as of afternoon trading on Wednesday. Earlier this year, it passed Amazon and Alphabet to become the third most valuable public company, behind Microsoft and Apple .
Companies often conduct stock splits to make their shares more affordable for investors. Nvidia’s stock closed Tuesday at $1,164.37 and it’s just one of nine companies in the S&P 500 with a share price over $1,000.Revenue for Nvidia’s most recent fiscal quarter. That’s more than triple the $7.2 billion it reported in the same period a year ago.
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