Company you never heard of sends US stocks surging

stock market has boomed this year, and one big reason is a company without much name recognition, unless you're a hardcore video gamer.

Demand has outpaced supply, making Nvidia the hottest of hot US stocks: It's leading the S&P 500 this year by a long way, and is now one of only a handful of companies with a market capitalisation of more than US$1 trillion .Shares in the California based tech company Nvidia have surged 222 per cent this year on the US stock market.

But Nvidia is by far the most sought-after AI stock. The American chipmaker produces the building blocks of generative artificial intelligence . The results were even stronger than the $11.2 billion in revenue that Wall Street analysts expected.This is the second time in a row that Nvidia's quarterly earnings have blown past expectations. Its success is beginning to provide assurances that the AI gold rush is not just a flash in the pan.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How Nvidia became the world’s most important company overnightAlmost every company and government in the world is desperate to invest in AI and Nvidia has ridden that wave to a trillion-dollar valuation.
Source: FinancialReview - 🏆 2. / 90 Read more »

How Nvidia became the world’s most important company overnightThe three Silicon Valley engineers behind Nvidia had just $US40,000 between them when they started the company. Now it’s worth trillions.
Source: theage - 🏆 8. / 77 Read more »

How Nvidia became the world’s most important company overnightThe three Silicon Valley engineers behind Nvidia had just $US40,000 between them when they started the company. Now it’s worth trillions.
Source: brisbanetimes - 🏆 13. / 67 Read more »