Nvidia closed at an all-time high on April 24, pushing its market capitalisation above $5 trillion, CNBC reported.
Nvidia shares ended the session up 4.3 percent at $208.27. End.
The stock’s rise was seen as driven by growing expectations for investment in AI chips ahead of big tech companies’ earnings releases next week. Nvidia shares have risen more than 14-fold since late 2022.
Semiconductor shares also rose. Intel surged 24 percent on April 24 after reporting results after the market closed on April 23 that beat market expectations. It was the biggest gain since 1987. AMD jumped 14 percent and Qualcomm rose 11 percent.
Recently, investors had been reducing their exposure to large technology stocks as oil prices surged on the Iran war and subsequent supply chain disruptions. More recently, technology stocks have been gaining again. That is because demand for AI infrastructure is not slowing. The Nasdaq has risen 15 percent so far in April and is heading for its best monthly performance since April 2020.
Chi-gyu Hwang
delight@d-today.co.kr