Nvidia's stock closed at its first record since October, as a rally in Intel pushed chipmakers higher.
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Nvidia
shares closed at a record on Friday for the first time since October, pushing the company’s market cap past $5 trillion, as investors piled into the AI chip trade ahead of earnings next week from tech’s hyperscalers.
The stock rose 4.3% to close at $208.27. Nvidia is up more than 14-fold since the end of 2022, driven by soaring demand for artificial intelligence services and models. Nvidia’s graphics processing units are relied on by Google, Microsoft
, Meta
Shares of the AI juggernaut are up nearly 20% in the last four weeks.
The surge comes barely three months after it hit the $4 trillion market cap.
Nvidia shares rose for a fifth consecutive day Friday as the chipmaker hovered near fresh highs and investors shook off China…
Nvidia is on track to become the first company to cross the $5 trillion market value threshold.
Nvidia became the first tech company to have $5 trillion market value after stock scores rose more than 4%. Its stock has risen…
Nvidia matched its intraday high and headed for a record close as investors gain confidence that the chipmaker will power through…
