Nvidia shares reached a record high on Monday, closing at $138.07, as Wall Street awaits earnings updates from major tech companies like Microsoft, Meta, Google, and Amazon regarding their AI infrastructure spending.
The stock has surged nearly 180% this year, continuing its rapid rise from last year. Nvidia’s dominance in the AI chip market, where it controls 70% to 95% according to Mizuho Securities estimates, has driven this growth. With a market cap of $3.4 trillion, Nvidia is now the second most valuable U.S. company, trailing only Apple.
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At the helm is CEO Jensen Huang, whose net worth is now estimated at $121.5 billion, according to Forbes. Nvidia’s momentum looks set to continue, with Huang revealing “insane” demand for its next-generation Blackwell chips, expected to launch in the fourth quarter. Morgan Stanley recently noted that these chips are already sold out for the next 12 months.
