Nvidia Flirts With $2 Trillion Valuation as Rapid Ascent Extends
- Chip giant up nearly 60% in 2024; ranks fourth-biggest stock
- Firm is biggest beneficiary of rush into AI-related equities
Signage at the Nvidia Corp. offices.
Photographer: I-Hwa Cheng/Bloomberg
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Nvidia Corp. is on track to become the first semiconductor firm with a $2 trillion valuation, another milestone in its ascendancy as the biggest beneficiary of a rush into artificial intelligence-related stocks over the past year.
The chipmaker’s shares rose 0.4% Friday to close at a $1.97 trillion valuation after briefly topping the $2 trillion mark in intraday trading. The gain cements Nvidia’s position as the world’s fourth-most valuable company after rallying nearly 60% since the beginning of the year, with a market capitalization that’s only behind Microsoft Corp., Apple Inc. and Saudi Aramco.