Nvidia claims top spot as most valuable company before CEO speech
- Shares of Nvidia rose by 3.4% to $149.43, setting a new record high.
- Nvidia's market cap reached $3.73 trillion, briefly surpassing Apple.
- The increase in stock price reflects growing confidence in Nvidia's future in the AI market.
On January 6, 2025, Nvidia experienced a notable increase in stock value, climbing 3.4% to reach $149.43 per share. This surge led to a market capitalization peak of $3.73 trillion, temporarily making it the most valuable company globally, surpassing Apple for a short time. The context for this significant market movement included optimistic fourth-quarter revenue forecasts influenced by robust data from Foxconn, a prominent Taiwanese semiconductor manufacturer. This performance was paired with favorable news regarding President-elect Donald Trump's upcoming tariffs, which reportedly will not target the semiconductor industry initially, allowing Nvidia and its peers to benefit from a stable supply chain. Jensen Huang, Nvidia's CEO, who is also known for his pivotal role in the advancement of generative AI technologies, was set to deliver a key speech at the Consumer Electronics Show (CES), further energizing investor confidence. Huang's financial growth over the last five years highlighted his position as one of the wealthiest individuals in the world, which accentuated the ongoing surge of Nvidia’s stock amidst a booming AI market. Investors are particularly optimistic given the current momentum in the semiconductor sector, which is projected to continue thriving amid increasing global demand for AI technologies. This situation underlines Nvidia’s pivotal role in the tech industry, especially in the realm of artificial intelligence applications, as it strives to maintain its dominance and expand its market reach further.