Nvidia shares experienced a remarkable surge of over 16 percent during the preceding trading session, resulting in a staggering $277 billion addition to its market capitalization within a single day. This surge has propelled the popular chipmaker's market value to surpass the combined market capitalization of India's BSE Sensex.
This significant milestone follows the chipmaker's exceptional performance in the stock market, with its stock rallying by 16.40 percent in the previous trading session. Consequently, Nvidia has ascended to become the fourth-largest company globally in terms of market value, which now stands at an impressive $1.94 trillion.
It's noteworthy that Nvidia's market capitalization has now exceeded the collective value of all 30 companies listed on the benchmark S&P BSE Sensex. As of February 22, the cumulative market capitalization of all Sensex-listed companies amounts to approximately $1.72 trillion. Notably, Reliance Industries holds the largest share, constituting approximately 14 percent of the Sensex's total value.
The remarkable ascent of Nvidia's market value is evidenced by its exponential growth, surpassing the combined worth of Sensex companies, a feat unimaginable just two years ago when Nvidia's value was less than half of Sensex's total worth. However, since then, Nvidia's value has skyrocketed by an astounding 560 percent.
In May of the previous year, Nvidia achieved a significant milestone by reaching a market value of $1 trillion, elevating it to the ranks of an exclusive group of companies. Moreover, the chipmaker is on track to set a record for the largest single increase in market capitalization, with an astounding jump of nearly $250 billion in value.
With Nvidia's shares hitting a record high, surging by 16 percent in a single day to reach $785.38 on the NASDAQ index, investor confidence in the company's future prospects remains strong, particularly in the realm of artificial intelligence (AI) owing to its advanced chip-making capabilities.
Nvidia's optimistic outlook is further supported by its recent announcement forecasting a revenue of around $24 billion for the current period, surpassing analysts' predictions. This robust performance has further bolstered Nvidia's market value, which now stands at $1.89 trillion, as investors anticipate continued benefits from the burgeoning demand for AI technology.
