The share value of California-based chip manufacturer Nvidia rose by nearly 5%, reaching $823.94. With this increase, Nvidia’s market value exceeded $2 trillion for the first time.
The company’s share price has seen an increase of over 60% since the beginning of the year. The rise in Nvidia’s shares is attributed to better-than-expected earnings, driven by the demand for its artificial intelligence chips.
In its financial statement released on Wednesday, Nvidia reported a record revenue of $22.1 billion, a 265% increase, for the quarter ending on January 28. The company also announced an expected revenue of $24 billion for the current quarter. Nvidia’s net profit for the same quarter increased by 769% year-on-year, reaching $12.29 billion.
Nvidia’s market value had already set a record the day before, recording an increase of approximately $277 billion, surpassing Meta’s $197 billion daily value gain record in this regard.
Earlier this month, Nvidia surpassed both Amazon and Alphabet, becoming the third-largest company in the United States in terms of market capitalization.
source: aa.com.tr / prepared by Melisa Beğiç