Boeing’s stock reached its highest point in the past year Wednesday after Qatari Airways announced a deal to buy 210 jets from the American aircraft company, the latest in a string of massive deals American companies have struck in the Middle East this week amid President Donald Trump’s four-day visit to the region.
Key Facts
- Boeing shares closed up .62%, reaching their highest point since last February.
- Shares of the aircraft manufacturer are up 15.6% since the start of 2024, when Boeing’s stock traded at $171.87.
- Nvidia, which struck a deal to sell 18,000 AI chips to the new Saudi-backed AI company Humain, is up about 8% since the deal was announced and closed up 4.1% on Wednesday at $134.76, reaching its highest point since February.
- AI software developer Palantir, which is one of several American firms that attended the U.S.-Saudi Investment Forum this week, reached an all-time high of $130.18 after jumping 8.5% since Tuesday.
- Elon Musk attended the investment forum and has benefited with a 4% surge in Tesla stock Wednesday, though the electric vehicle maker’s stock is down 13.9% since the start of the year.
- Larry Fink-led investment company Blackrock, which also attended the investment forum, spiked 4.2% Monday and closed up a fraction of a percent Wednesday, continuing a month’s worth of gains, though shares of the multinational firm are still down around 5.6% on the year.
Forbes Valuation
Musk, the world’s wealthiest person, has an estimated net worth of $423.8 billion following an $8.1 billion increase Wednesday. Nvidia CEO Jensen Huang’s estimated net worth jumped $4.2 billion Wednesday, reaching $117.7 billion as the 11th wealthiest person in the world. Thiel’s estimated net worth increased $216 million to $20.9 billion Wednesday while Fink’s bumped up to $1.2 billion.
How Did The Broader Stock Market Perform Wednesday?
The three major U.S. indexes had mixed performances Wednesday. The S&P 500, which spiked 3.3% and closed as its highest level since March on Monday, closed up just six points on Wednesday. The Dow Jones fell a fraction of a percent Wednesday after also spiking just two days earlier. The Nasdaq proved to be an exception, surging 136 points (.72%) Wednesday after significant gains on Monday and Tuesday. The tech-aligned index is now up 7.9% in the last five days of trading.
This is a developing story. Check back for updates.
This article was originally published on forbes.com and all figures are in USD.
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