Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Nvidia briefly outstripped Amazon.com Inc in market capitalisation, propelled by the fervour surrounding artificial intelligence (AI) and positioning the chipmaker as the fourth most valuable U.S. company.
Reaching a record high of $734.96, Nvidia boasted a market value of $1.82 trillion, edging past Amazon's $1.81 trillion and approaching Google-owner Alphabet's $1.87 trillion, according to LSEG data. This surge marked a significant moment, as Nvidia last surpassed Amazon's valuation in 2002, when both companies were valued at under $6 billion.
Investor attention now turns to Nvidia's quarterly results, scheduled for release on February 21, following Amazon's impressive holiday quarter sales. Nvidia's shares have surged 47% year-to-date, positioning it as the top gainer among S&P 500 components.
Nvidia's dominance in supplying tech firms engaged in generative AI, such as chatbots and image creation, has solidified its market position. The company's blowout quarterly results and robust forecasts from a year ago underscored its leading role in the AI space, propelling its stock to remarkable heights.
This bullish sentiment surrounding Nvidia's prospects in the AI sector has contributed to its exceptional performance, making it the best-performing stock among the "Magnificent Seven," with a remarkable 223% surge over the past 12 months. Meta Platforms follows as the second-best performer with a 163% rise.
With Microsoft surpassing Apple to claim the title of the world's most valuable company in January and Alphabet holding the third spot, Nvidia's ascension in market value highlights the growing significance of AI in driving technological innovation and reshaping the corporate landscape.
Also Read : Diamondback Energy to acquire Endeavor Energy in $26 billion mega shale deal BYD to establish new electric vehicle plant in Mexico, aiming for U.S. export hub
🔹 SAIL to commission a 4 million MT coking coal block by H2 2026.🔹 Move to reduce reliance on impo...
Business 24-Mar-2025
According to a report by the International Energy Agency (IEA) reported, India has surpassed China t...
Automobiles 26-Apr-2024
Kolkata-based Kilburn Engineering Ltd (KEL) has announced the acquisition of M E Energy Private Ltd,...
Small Enterprises 22-Feb-2024
The coal sector grew by 10.2% in May, outperforming all eight main industries, according to the gove...
Press Releases 05-Jul-2024
By year's end, twenty coal mines likely to be functional, as per the official data. Given that the c...
Ferrous 10-Apr-2024
The price of crude oil began the week on a downward trend following Israel's announcement that it ha...
Raw Material 12-Feb-2024