After a great Q4 earnings report that beat analysts' predictions by a large margin, Nvidia shares finished 16 percent higher in US trading last night. Furthermore, the stock price hit a new high of $785 and gained an incredible $277 billion in value, increasing the market value of the chip giant to $1.96 trillion. The market capitalisation of Nvidia now ranks third in the US, passing Jeff Bezos's Amazon.
With a huge 265 percent year-over-year jump, the US tech giant made $22.10 billion in sales in the fourth quarter. At the same time, net income went up by a huge 769 percent. Many people are still excited about and interested in artificial intelligence, which is why this show was so good.
Nvidia outperformed Meta Platforms, which had previously held the record for the largest one-day increase in stock value on Wall Street. That's what it did after its parent company, Facebook, announced its first payout and good financial results.
(Nvidia CEO Jensen Huang)
Nvidia is still optimistic about its future because there are no signs that the company will slow down. A lot more money than was thought before, the company is expected to make $24 billion this quarter. According to Nvidia CEO Jensen Huang, "Fundamentally, the conditions are excellent for continued growth in 2025 and beyond." This made people even more optimistic about the stock.
Now, after Alphabet and Amazon, Nvidia is the third-most valuable company in the US stock market. Windows ($3.06 trillion) and Apple ($2.85 trillion) are the two companies worth the most money right now.
(Image Source: X)
(Inputs from agencies)
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