Nvidia’s valuation recovers to $3.1 trillion, looks to rise further
2024.06.26 05:13
Shares in Nvidia (NASDAQ:) rose sharply on Tuesday, reclaiming the $3 trillion valuation following a spate of consecutive declines that cost the AI darling its title as the world’s most valuable public company.
NVDA closed 6.7% higher, propelling its market cap to $3.1 trillion and easing investor concerns that its key role in the AI revolution may be cooling.
The stock continued to attract positive attention on Wednesday, rising more than 2.4% in premarket trading. Should it hold onto these gains, NVDA could add a further $70 billion to its market cap and inch closer to Apple (NASDAQ:), which is currently valued at $3.21 trillion.
On June 18, Nvidia’s market capitalization reached $3.34 trillion, surpassing Microsoft’s (NASDAQ:) to become the world’s most valuable company. However, over the following three trading days, the company lost $430 billion in market value, retreating to third place.
