NVIDIA briefly overtook Amazon in market value; Will it continue to rise?
NVIDIA briefly overtook Amazon in market value. Momentarily Amazon became the fourth most-valuable publicly listed company in the United States, trailing behind Alphabet with a market capitalisation of $1.84 trillion
NVIDIA briefly overtook Amazon Inc. in market value on Monday, February 12, the latest milestone in a stunning rally over the past year fueled by soaring demand for its chips used in artificial intelligence (AI) computing.
NVIDIA saw a modest increase of nearly 0.2 per cent in its stock value, reaching a market capitalization of approximately $1.78 trillion. Conversely, Amazon experienced a decline of 1.2 per cent, closing with a market valuation of $1.79 trillion.
This temporary shift in fortunes positioned the chipmaker ahead of the e-commerce titan during regular trading hours, momentarily securing its place as the fourth most valuable publicly listed company in the United States, trailing behind Alphabet with a market capitalization of $1.84 trillion.
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Saxo Bank analyst Peter Garnry noted, “Amazon emerged as one of the victors in the latest earnings season, with an improving outlook.” He highlighted that NVIDIA is currently benefitting from the initial surge in investment amid the ongoing AI boom, marked by substantial capital expenditures directed towards data centres.
After maintaining a relatively stable performance in the latter half of 2023, NVIDIA’s stocks have experienced a significant upswing in the new year, soaring nearly 50 per cent. This surge comes amidst indications of sustained demand for its chips, particularly in data centres supporting AI applications necessitating complex computational tasks. NVIDIA’s market capitalization has surged by approximately $600 billion since the beginning of the year, surpassing its gains over the preceding seven months of 2023.
Amazon also kicked off the year on a positive note, witnessing an 8 per cent spike in its stock prices following robust sales figures for the fourth quarter and a promising profitability forecast that exceeded expectations. This rally briefly propelled Amazon’s market value above that of Alphabet.
NVIDIA Corporation is the final among the tech giants to announce its earnings, scheduled for release on February 21st.
(With inputs from agencies)
NVIDIA briefly overtook Amazon in market value. Momentarily Amazon became the fourth most-valuable publicly listed company in the United States, trailing behind Alphabet with a market capitalisation of $1.84 trillion
NVIDIA briefly overtook Amazon Inc. in market value on Monday, February 12, the latest milestone in a stunning rally over the past year fueled by soaring demand for its chips used in artificial intelligence (AI) computing.
NVIDIA saw a modest increase of nearly 0.2 per cent in its stock value, reaching a market capitalization of approximately $1.78 trillion. Conversely, Amazon experienced a decline of 1.2 per cent, closing with a market valuation of $1.79 trillion.
This temporary shift in fortunes positioned the chipmaker ahead of the e-commerce titan during regular trading hours, momentarily securing its place as the fourth most valuable publicly listed company in the United States, trailing behind Alphabet with a market capitalization of $1.84 trillion.
Related Articles
AMD, like Intel, hopes to sell a ton of AI Chips, but expects revenue to take a hit, reveals earnings call
Meta to develop, use its in-house data centre AI-chips this year, AI tools to cost over $30 billion annually
Microsoft Corporation holds a valuation of $3.09 trillion, while Apple follows closely at $2.89 trillion.
Saxo Bank analyst Peter Garnry noted, “Amazon emerged as one of the victors in the latest earnings season, with an improving outlook.” He highlighted that NVIDIA is currently benefitting from the initial surge in investment amid the ongoing AI boom, marked by substantial capital expenditures directed towards data centres.
After maintaining a relatively stable performance in the latter half of 2023, NVIDIA’s stocks have experienced a significant upswing in the new year, soaring nearly 50 per cent. This surge comes amidst indications of sustained demand for its chips, particularly in data centres supporting AI applications necessitating complex computational tasks. NVIDIA’s market capitalization has surged by approximately $600 billion since the beginning of the year, surpassing its gains over the preceding seven months of 2023.
Amazon also kicked off the year on a positive note, witnessing an 8 per cent spike in its stock prices following robust sales figures for the fourth quarter and a promising profitability forecast that exceeded expectations. This rally briefly propelled Amazon’s market value above that of Alphabet.
NVIDIA Corporation is the final among the tech giants to announce its earnings, scheduled for release on February 21st.
(With inputs from agencies)
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