Nvidia’s market value closed on Friday above $2tn for the first time, with enthusiasm about the prospects of artificial intelligence fuelling an eighth straight week of gains for the chipmaker’s shares.
Apple, Microsoft and Google-parent Alphabet are the other US-listed companies to have reached intraday market values of $2tn, but only the former two have reached the end of a trading day with valuations above that threshold.
Nvidia shares rose 4 per cent on Friday, giving it a valuation of about $2.05tn. Its share price has now climbed 66 per cent since the start of 2024, or about $830bn in dollar terms. That followed a more than 230 per cent increase in 2023, as the company repeatedly blasted through analyst and investor forecasts.
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