Nvidia sets new record with nearly $5.3 trillion value after AI darling surges 4%
Shares of Nvidia are now up 16% on the year after slumping in March.
Shares of Nvidia are now up 16% on the year after slumping in March.
The gap between the planet’s two wealthiest people has never been larger heading into the New Year.
Artificial general intelligence, or AGI, is a loosely defined term describing artificial intelligence models that can match or surpass human intelligence.
Nvidia, alongside a group of other leading tech stocks, jumped Monday, sending the Nasdaq up more than 1%.
Trump said Nvidia’s most advanced AI chips will not be sold to China, a few days after he signaled he would be willing to discuss export controls on them with Xi Jinping.
The company, worth $10 billion a decade ago, has reached record milestones driven by growing AI demand.
Nvidia’s investment in its struggling rival comes less than a month after the U.S. government took a 10% stake in Intel.
The company previously forecast a $5.5 billion hit to sales after the U.S. imposed restrictions on its H20 AI chips.
Nvidia is worth more than the world’s annual military spending and 97% of the planet’s economies.
Shares of the AI chip king have soared nearly 35,000% over the past 10 years.