Nvidia Hits $3 Trillion Market Cap Amid AI Boom

👉 Key Highlights:

📍 Nvidia hits $3 trillion market cap during intraday trading on Wednesday.

📍 Nvidia shares rose over 4% to $1,219 during intraday trading.

📍 Nvidia surpasses $Apple (AAPL.US)$ in market cap on Wednesday.

📍 Nvidia shares up over 3,224% in the last five years.

📍 Nvidia plans a 10-1 stock split later this month.

📍 First U.S. company to reach $3 trillion was Apple in January 2022.

📍 $Microsoft (MSFT.US)$ reached $3 trillion market value in January 2024.

📍 Nvidia surpassed $2 trillion valuation in February 2024.

📍 May earnings report showed $26 billion in overall sales, tripling from last year.

📍 Nvidia forecasted revenue of about $28 billion for the current quarter.

📍 Nvidia chips are essential for developing AI models like OpenAI’s ChatGPT.

📍 Companies like $Alphabet-A (GOOGL.US)$ , Microsoft, $Meta Platforms (META.US)$ , $Amazon (AMZN.US)$ , and OpenAI are major Nvidia customers.

👉 Market Insights:

📍 Nvidia's success could drive further investments in AI and related technologies.

📍 The company's growth highlights the increasing importance of advanced chips in tech development.

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