Nvidia shares near record high as market value tops $5.7 trillion
Nvidia's stock rose to an intraday peak of $237.15, pushing its market capitalization to about $5.73 trillion amid strong demand for AI hardware.
Nvidia's shares climbed to $237.15 in early Monday trading, approaching the company's all-time intraday high set on Friday. The rise lifted Nvidia's market value to roughly $5.73 trillion.
The surge reflects ongoing spending on artificial-intelligence infrastructure, with the chipmaker benefiting from its role in supplying GPUs and related networking equipment for AI workloads. In its latest earnings release, Nvidia reported second-quarter revenue of $96.2 billion and projected third-quarter sales between $105.8 billion and $110.1 billion, surpassing Wall Street forecasts.
Analysts note that the AI sector has experienced volatility since the launch of ChatGPT, prompting questions about a possible bubble. Nvidia also faces scrutiny over “circular investing” practices and increasing competition from rivals such as AMD, as well as from cloud providers like Amazon and Google that are developing their own custom chips.