News Formal

Nvidia's stock market value rose $273 billion in a day. How it rose to AI prominence, by the numbers

  • 📰 AP
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Nvidia’s stock price jumped 16% on Thursday, increasing the company's market value by a staggering $273 billion in just one day, a record amount.

FILE - A sign for a Nvidia building is shown in Santa Clara, Calif., May 31, 2023. The chipmaker posted stronger-than-expected results for its latest quarter and provided further evidence that the excitement surrounding artificial intelligence likely won’t subside anytime soon. stock price jumped 16% on Thursday, increasing the company’s market value by a staggering $273 billion in just one day, a record amount.

The chipmaker has been seeing soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. The company’s revenue more than tripled in the latest quarter compared with the same period a year earlier. It’s the latest sign that the excitement surrounding artificial intelligence likely won’t subside anytime soon. Nvidia, which has positioned itself as one of the most prominent players in AI, has been producing some eye-popping numbers. Here’s a look:CEOs of OpenAI and Intel cite artificial intelligence’s voracious appetite for processing powerThe amount Nvidia Corp.’s market value increased on Thursday alone, according to FactSet.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Nvidia rally is fueling FOMO in the overall market, Evercore's Julian Emanuel warnsEvercore ISI's Julian Emanuel finds clients are more worried about being underinvested than overexposed right now.
Source: CNBC - 🏆 12. / 72 Read more »

US Earnings Preview: What to Expect from NVIDIA ResultsFor NVIDIA to sustain its lofty share price, it's imperative that the company's results meet Wall Street's expectations.
Source: DailyFX - 🏆 305. / 63 Read more »

​​How Nvidia’s Investment Arm Is Supercharging A New Class Of AI StartupsI'm a Forbes technology reporter and senior writer based in San Francisco. Send me tips at rnievaforbes.com or richardnievaprotonmail.com.
Source: ForbesTech - 🏆 318. / 59 Read more »