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June 29, 2022


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“Nvidia” adds 277 billion dollars to its market value and exceeds meta

The share price of the company”Nvidia Corp” (Nvidia Corp) jumped to an all-time high, the company recorded the largest increase in its market value in one session in history, surpassing the historical gains achieved by the company “meta platforms” just three weeks ago.

The chipmaker’s share price rose by 16% on Thursday, the company added about 277 billion dollars to its value to bring its total market capitalization to nearly two trillion dollars. Exceeding the gains of 197 billion dollars achieved by the company “meta”, the parent company of” Facebook”, at the beginning of the month.

“It’s not a big deal,” said Stacy Rasgon, an analyst at Sanford C. Bernstein. Bernstein): “the company at this stage is printing money .. The prospects for continued growth from here still look strong,”he said.

The share price of “Nvidia” jumped after the company announced stunning results that reinforced Wall Street bets on the potential of its artificial intelligence technologies. The chip manufacturer also provided guidance above expectations, driven by the spending of its largest customers on artificial intelligence, including “Microsoft”, and”meta”. Repeatedly exceeding business results above expectations means that the stock of “Nvidia” has become cheaper on a price-to-earnings basis.

“Nvidia” outperformed the already high expectations, according to Morgan Stanley analyst Joseph Moore. “We have never seen a company manage to raise its quarterly revenue guidance by two billion dollars above expectations, until (Nvidia) did it a few quarters ago, but it became routine during the AI boom,” he wrote.. The strength of the demand for artificial intelligence is still noticeable,”he said.