Nvidia: Leaps and Trips

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Koushik Korampalli

June 23, 2024

Written by Koushik Korampalli

Est read: 0 minutes

On Tuesday, Nvidia surpassed Microsoft and Apple to become the most valuable company in the world.
- The company climbed 3.2% to $135.18
- Nvidia has a Market Cap of $3.3tn
  - Over 2 years they have increased in size tenfold, from ~$300bn
- The astronomical rise is mostly due to the large increase in demand for AI chips
However shortly after the chip fell 8% from its morning high.
- There was no real catalyst for this, many believe it was due to investors cashing out on profits.
- However, this slip up lost them $277bn.
Nvidia is also working on a new powerful chip called Blackwell
- “Blackwell is the engine to power this new industrial revolution… we will realise the promise of AI for every industry” – Jenson Huang, Nvidia CEO
With impressive first quarter earnings, a seemingly undying AI craze, a recent 10-1 stock split and new products on the way, Nvidia’s future seems to be positive.