Homepage
Games
News
News ▾
All
Transfers
Drama
Business
Sponsors
Mergers
Investors
Hires
Companies
More
People
Tournaments
Brands
Brands ▾
Companies
Organizations
Sponsors
Other
Locations
Search
Editing
News/Nvidia is Growing
From TwogPedia
News/Nvidia is Growing
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
{{News |seo_title=Nvidia is Growing |seo_keywords=Nvidia |image=Nvidiagrowth.png |tags=Nvidia |date=2024-08-01T11:41:43.000Z |sources={{NewsSource |source=Kotaku |url=https://kotaku.com/nvidia-nvda-ai-graphics-card-microsoft-stock-record-1851610332 |article=News/Nvidia is Growing }} |author=Andura |category=Business |content=[[Companies/Nvidia|Nvidia]] has achieved the largest single-day increase in market value ever recorded on Wall Street. On Wednesday, the California-based chip maker saw its market capitalization surge by $330 billion, surpassing the previous record of a $277b gain set in February. Shares of Nvidia soared nearly 13%, driven by optimism about sustained demand for its chips. This boost came after Microsoft announced a 60% increase in AI-related capital spending for the 2024 fiscal year, reaching $69b. With its latest stock rally, Nvidia’s market cap has reached $2.88 trillion, positioning it as the world’s third-most valuable company, behind Apple and Microsoft. The company's stock briefly made Nvidia the most valuable company globally in June, overtaking Microsoft with a market cap of $3.335 trillion. '''More:'''[[News/FURIA Reveals New Collection|FURIA Reveals New Collection]] Over the past year, Nvidia’s shares have skyrocketed by more than 150 percent, the highest increase among major US companies. However, this remarkable performance has been accompanied by significant volatility; the recent surge followed a 7 percent drop the previous day, which erased $193b from the company’s value. Nvidia, known for powering a range of devices from Android phones to gaming rigs, gained prominence with its GPU designs for Microsoft’s original Xbox and Sony’s PlayStation 3. Once recognized for showcasing impressive but costly hardware to gamers, Nvidia is now a key player in the AI sector. At the beginning of 2023, Nvidia's shares were trading below $15. Less than two years later, they have exceeded $100. This dramatic increase is largely attributed to the soaring demand for GPUs driven by AI investments. Despite some skepticism about the practical applications of generative AI and machine learning, Microsoft's announcement of continued substantial investments in AI infrastructure has further propelled Nvidia’s stock, increasing its value by more than the worth of most companies in less than eight hours. }}
Summary:
Please note that all contributions to TwogPedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
TwogPedia:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)
Templates used on this page:
Template:News
(
edit
)
Template:NewsArticle.css
(
edit
)
Template:NewsNav
(
edit
)
Template:NewsSource
(
edit
)
Template:RelatedNews
(
edit
)
Module:Arguments
(
edit
)
Module:NewsSource
(
edit
)
Module:RelatedNews
(
edit
)
Module:SocialShare
(
edit
)
No categories
Edit