Nvidia takes the record for the biggest stock market gain ever
The AI chip maker, Nvidia, has taken the record for the largest ever single day's trade.
On Thursday it rose, in monetary terms, by the biggest margin ever seen by any company on any market around the world, adding $277bln in value, bringing its gains for the year to date to $740bn taking its mkt capitalisation to $1.94tln. It powered stock indices on three continents hit all-time highs after a stunning beat on earnings, sales and its outlook for the current quarter.
(AI Video Summary)
NVIDIA
NVIDIA, a company that makes advanced computer chips for artificial intelligence, had an incredible day in the stock market. Their sales and profits exceeded expectations in the last quarter, and their share price skyrocketed by 251 percent last year, reaching an all-time high. Since then, it has continued to climb by another 61.29 percent. During yesterday's trading, NVIDIA's market value jumped by a whopping $277 billion, a record-breaking achievement. So far this year, their total gains have reached an impressive $740 billion, bringing their overall market capitalization close to $2 trillion.
The Dow and the S&P 500
To add to their success, NVIDIA kept rising even after regular trading hours and closed at a new record high of $798.92 on the IT platform. This outstanding performance had a positive effect on the entire stock market, improving the performance of indices like the Dow and the S&P 500. Although the NASDAQ (US tech 100) didn't hit a new all-time high, it came very close to its highest point ever. However, the S&P 500, which now includes NVIDIA as one of the "big magnificent seven," did reach an all-time high thanks to NVIDIA's rise the previous day.
Overall, NVIDIA's incredible success in the stock market has made it one of the most valuable companies in the world, with a market capitalization close to $2 trillion. Its continuous growth has also benefited the broader market, showing how strong the company is in the tech industry.
NVIDIA sales and profits
In simpler terms, NVIDIA had a super impressive day in the trading world. Their sales and profits did way better than expected, and their share price shot up really high. They gained a crazy amount of value and their total gains for the year are mind-blowing. Even after normal trading hours, their stock kept rising to a new record high. This had a positive impact on the whole stock market and made other important indices go up too. NVIDIA is now one of the most valuable companies worldwide, and their success shows how powerful they are in the tech industry.
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