TECH - What's Going On With Nvidia Stock On Thursday? | Benzinga
Nvidia Corp’s (NASDAQ:NVDA) stock surged to record highs on Wednesday, valuing the company at over $3 trillion and making it the world’s second most valuable company, surpassing Apple Inc (NASDAQ:AAPL).
Nvidia plans a ten-for-one stock split on June 7 to attract more individual investors.
Nvidia’s valuation has soared 147% in 2024 due to strong demand for AI processors from companies like Microsoft Corp (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).
On Wednesday, Nvidia added nearly $150 billion in market capitalization, more than the entire value of AT&T Inc (NYSE:T), Reuters reports.
Jake Dollarhide, CEO of Longbow Asset Management, remarked, “Nvidia is making money on AI right now, and companies like Apple and Meta are spending on AI.”