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Nvidia shares break records: + $400 billion in five days

October, 09 2024
watermark Economic news

The recent surge in interest in artificial intelligence has led to a meteoric rise in Nvidia shares. Over the past five trading sessions, the share price has increased by 14%, and on Wednesday it continues to grow by almost 1% at the upcoming auction. 


Since the opening of trading last Wednesday, the company's market capitalization has increased by $400 billion, reaching $3.26 trillion.


Nvidia is now more expensive than Microsoft and is second in value only to Apple among the world's public companies. Over the past week, the company has added $400 billion to its value, which is more than the value of Costco, whose revenue last year was $254 billion.


Nvidia shares have increased by about 170% this year, and by almost 800% since the beginning of 2023. The founder and CEO of the company, Jensen Huang, became one of the richest people in the world, his fortune grew from $14 billion to $106 billion in two years.


Investors' optimism is linked to the new Blackwell chip, which Huang called the «engine of the new industrial revolution.»


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