Nvidia Worth More Than $5 Trillion
Nvidia's stock closed at a record high on Friday. This pushed the company's total value past $5 trillion.
Nvidia is now worth $1 trillion more than second-place Alphabet. Nvidia leads the market for artificial intelligence chips.
This drives strong demand from investors. Intel's stock rose over 22% after a strong earnings report.
Intel also signed a nuclear power deal with energy company Oklo. A rise in Intel helped push other chip stocks higher too. The Nasdaq is on track for its best month since April 2020.
Klear Note — Nvidia makes computer chips used for artificial intelligence. AI chips are in high demand from tech companies building AI systems.
Key Terms 4
- market cap Total value of all a company's shares added together
- Nasdaq US stock market focused on technology companies
- artificial intelligence chips Computer parts built to power AI software and tools
- earnings report A company's official update on how much money it made