NVIDIA The company’s shares are once again performing well ahead of its latest earnings report.
The AI chipmaker’s shares have surged nearly 30% in the past two weeks, adding about $750 billion to its market capitalization, while the tech-heavy Nasdaq index has risen more than 7% from its Aug. 5 low.
The increase was driven by the Santa Clara, California-based semiconductor giant. Prolong recovery From the big drop $900 billion lost Market value is rising. Training a generative artificial intelligence model — The company is a big player in the AI space, and has become a barometer for the health of demand and expectations for AI, with its stock price also being a driving force in the market.
NVIDIA (NVDA) The rebound partially fueled an eighth-day winning streak for the Nasdaq and S&P 500. Both ended on TuesdayA ninth consecutive day of gains for the S&P 500 would have been its longest winning streak in the past 20 years.
NVIDIA (NVDA) The stock was flat in premarket trading on Wednesday after falling about 2 percent to close at $127.25 a share on Tuesday. The company has a market capitalization of $3.13 trillion, second only to Apple. (AAPL) and Microsoft (Microsoft).
In the past 8 business days,The Magnificent SevenTech Stocks — Apple (AAPL)Google’s parent company Alphabet (Google)Microsoft (Microsoft),Amazon (Amazon)Facebook Parent Meta (Meta)Tesla (TSLA)NVIDIA’s market capitalization increased by a combined $1.4 trillion. About half of the $3.2 trillion increase in market capitalization of the overall S&P 500, according to Yahoo Finance.
The semiconductor giant is scheduled to release its second-quarter earnings report next Wednesday, August 28, after the market closes. Analysts and investors are watching to see if NVIDIA can continue to deliver astounding results quarter after quarter, as the company’s results tend to send ripples through the market.
Nvidia reports record First Quarter Earnings Revenue for the quarter ended April 28 was $26 billion, up 262% from a year ago. Revenue beat Wall Street’s sky-high expectations and rose 18% from the previous quarter’s $22 billion in revenue, which was up nearly 270% from a year ago.
After reporting first-quarter earnings, Nvidia The stock price exceeded $1,000 Wedbush analysts called the company’s record performance a “standout quarter” and the “ultimate barometer of the AI revolution.”
The stock closed at an all-time high of $135.58 on June 18. Initiated a 10-for-1 stock split At the beginning of the month.
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