AI Leader Nvidia Market Cap Surpasses Amazon For The First Time In 22 Years
AI Leader Nvidia Market Cap Surpasses Amazon For The First Time In 22 Years… $2 Trillion ‘Right Before Our Eyes’. NVIDIA, considered an ‘artificial intelligence (AI) leader’ in the U.S. stock market, has surpassed Amazon’s market capitalization for the first time in 22 years.
NVIDIA, which has continued its upward trend since trading began on the New York Stock Exchange (NYSE) on the 12th (local time), is trading at around $737 per share as of 10:50 am.
As a result, Nvidia’s market cap increased to $1.82 trillion, surpassing Amazon’s market cap ($1.81 trillion).
Amazon’s Stock Price Is Falling Today.
This is the first time since 2002 that Nvidia’s market cap has surpassed Amazon’s. At the time, the market capitalization of the two companies was around $6 billion each. Semiconductor company NVIDIA continues to grow along with the development of the AI industry.
NVIDIA, which maintains a monopoly position in the AI semiconductor market with an 80% share, announces sales and profits that exceed market expectations every quarter. Accordingly, the stock price soared 47% this year alone. NVIDIA’s stock price increase over the past 12 months amounts to 223%.
If this upward trend continues, it is expected that the company will join the ‘$2 trillion market cap club’. If Nvidia’s stock price rises by about 10% from the current level and reaches $810, its market capitalization will exceed $2 trillion. It is the fourth in history, following Apple, Microsoft (MS), and Alphabet.
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