Nvidia Hits $5.78 Trillion Market Cap as Stock Climbs to Record $239.86
Updated
Updated · Yahoo Finance · Oct 5
Nvidia Hits $5.78 Trillion Market Cap as Stock Climbs to Record $239.86
3 articles · Updated · Yahoo Finance · Oct 5
Summary
$239.86 marked a new intraday high for Nvidia on Monday, lifting its market value to $5.78 trillion after the stock had already broken its previous record on Friday.
AI infrastructure spending continues to drive the rally, with Nvidia remaining the central hardware supplier in the global build-out of GPUs, networking gear and related systems.
$96.2 billion in fiscal Q2 revenue and a third-quarter sales forecast of $105.8 billion to $110.1 billion reinforced the surge after Nvidia beat Wall Street expectations in August.
The advance comes despite recurring AI-bubble concerns, scrutiny of Nvidia's investments in customers, and rising competition from AMD as well as custom chips from Amazon and Google.
Is Nvidia transforming from a chipmaker into a massive financial institution by backstopping billions in Wall Street AI loans?
Will AMD's aggressive new Helios system and Amazon's custom silicon finally shatter Nvidia's massive $6 trillion AI monopoly?
Could controversial circular financing and multi-billion dollar loan guarantees trigger a devastating market collapse if AI demand suddenly evaporates?