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Nvidia stock reaches all-time high as company closes in on $3 trillion market cap

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Jensen Huang,Stock Market,Microsoft

Nvidia stock rises to another record high as the AI trade continues to dominate markets.

) stock rose as much as 4.5% on Wednesday to reach a record high, giving the company a market cap just shy of $3 trillion as threatens to overtake Apple , and others use its hardware to power everything from their cloud-based AI offerings for customers to their own AI models and services.adjusted earnings per share of $6.12 on revenue of $26 billion, jumps of 461% and 262%, respectively, from the same period a year ago.

Nvidia is also contending with growing competition from its own customers, as Amazon, Google, and Microsoft seek to wean themselves off of their dependence on the company's chips and save on capital expenditures while they're at it. "The current upcycle started in late'23, so we are only in quarter 3, implying strength likely till mid-26E," Bank of America wrote on Monday.These stocks now have dividend yields above 7%. The post Dividend Deals: 2 Top TSX Stocks That Still Look Undervalued appeared first on The Motley Fool Canada.

 

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