Shares of Nvidia surged around 4% on Wednesday, pushing the stock to a fresh record high and making it the world's most valuable company by market capitalisation, surpassing Microsoft.
Nvidia CEO Jensen Huang said that robotics was one of the two largest growth opportunities for the AI chipmaker. In May, Nvidia said its robotics unit had $567 million in quarterly sales, or about 1% of the company's total revenue.
In the summer of 2018, more than four decades after its founding, Apple (AAPL 0.82%) became the first publicly traded stock to reach a $1 trillion market cap.
Nvidia shares continued to rally on Wednesday and headed for a record close, as investors gain confidence that China export controls won't dampen the company's prospects in AI. The stock is up about 12% in June after jumping 24% last month and is poised to close at a record for the first time since January.
U.S. equities were mostly higher at midday as a ceasefire between Israel and Iran appeared to be holding. The S&P 500 and Nasdaq rose, but the Dow Jones Industrial Average dropped.
Nvidia Corporation's stock has rebounded strongly, driven by robust Q1 earnings, paused tariffs, and the cancellation of the AI diffusion rule. AI demand remains strong, with Nvidia dominating the GPU market and benefiting from hyperscaler and sovereign state investments in AI infrastructure. My updated DCF model shows Nvidia's fair value at $181.53 per share, about 25% above current levels, su...
Nvidia stock continued to remain under spotlight on Wall Street as it extended gains on Wednesday and surged 4% to trade near its 52-week high.
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