Big Tech leads the charge as Nvidia hits a $3 trillion valuation, overtaking Apple. Nvidia's stock surge driven by the AI boom, closing at over $1,200 a share.

Record-Breaking Day on Wall Street and Nvidia's Meteoric Rise

Nvidia becomes the second most valuable public company in the US, behind Microsoft.

Nvidia Joins the $3 Trillion Club

Discussion with Anna McDonald on Nvidia's dominance and the potential of an AI bubble.

Market Analyst Insights on Nvidia

**Record-Breaking Day on Wall Street**

*Big Tech Leading the Charge*

It's been another record-breaking day on Wall Street, with Big Tech very much leading the charge. Both the S&P 500 and the NASDAQ hit record closes on Wednesday as the chip-making giant, Nvidia, broke the $3 trillion valuation mark, overtaking Apple and becoming the second most valuable public company in the US behind Microsoft.

**Nvidia's Meteoric Rise**

The meteoric rise of Nvidia is driven by the artificial intelligence boom, as investors bet big on its ability to provide the nuts and bolts behind this latest tech. To gauge just how far and how fast they've come, it's worth looking at where the share price was at the start of this year. And as you can see, it was under $500 a share. On Wednesday, it closed at over $1,200 a share. So that's just the rise this year. It actually went up 5% in value on Wednesday alone, giving the market cap of just over $3 trillion, a mind-boggling sum.

**Nvidia Joins the $3 Trillion Club**

Wall Street's on a record-breaking run. The latest? All-time high closes for the S&P 500 and the NASDAQ. The latter powered by, you guessed it, Nvidia. The chipmaker joined the $3 trillion club on Wednesday, overtaking Apple as the world's second most valuable company. Microsoft is still the world's number 1. NVIDIA is only the third company to ever exceed $3 trillion in market value. It's leading in the race to develop the chips needed to enable new artificial intelligence applications.

**Market Analysis and Concerns**

Market analyst Anna McDonald expressed her astonishment at Nvidia's dominance in the artificial intelligence sector. She also raised concerns about a potential bubble in the market due to the massive rise in share prices. However, she noted that Nvidia is actually delivering revenue and profit growth, unlike some companies that rely on promises for the future.

**Overall Market Performance**

Alphabet, Amazon, Apple, Meta, and Microsoft all ended the day up as well. The major indexes have been hitting high water marks over and over in 2024. This marks the Nasdaq's 13th record close this year and the 25th for the S&P.

It's clear that the tech industry, particularly Nvidia, is driving the market to new heights. Keep an eye on these developments as they continue to shape the future of the market.

Stay tuned for more updates on the rise and rise of Nvidia and its impact on the market.

"Nvidia's $3 Trillion Valuation: Driving the Market to New Heights"

- Wall Street had a record-breaking day, with the S&P 500 and NASDAQ hitting record closes
- Nvidia surpassed a $3 trillion valuation, becoming the second most valuable public company in the US
- The rise of Nvidia is driven by the artificial intelligence boom
- The company's share price went up over 5% on Wednesday, closing at over $1,200 a share
- Other tech giants like Alphabet, Amazon, Apple, Meta, and Microsoft also saw gains
- This marks the Nasdaq's 13th record close and the 25th for the S&P in 2024
- Nvidia's dominance in artificial intelligence is seen as astonishing and the company is delivering revenue and profit growth
- Concerns about a potential bubble in the AI market were raised, but it was noted that Nvidia is actually selling these chips and delivering on revenue and profit growth

Nvidia's market value has surged past $3tn (£2.3tn), lifting the chip giant ahead of Apple to become the second most valuable publicly listed company in the world.

The firm's share price rose more than 5% on Wednesday, to more than $1,224.

It extended a breathtakingly rapid climb that started last year, powered by bets that the US firm is positioned to be a major winner from a wave of investment in artificial intelligence (AI).

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Been another record-breaking day on Wall Street, with Big Tech very much leading the charge.

Both the S&P 500 and the NASDAQ hit record closes on Wednesday as the chip-making giant, Nvidia, broke the $3 trillion valuation mark, overtaking Apple and becoming the second most valuable public company in the US behind Microsoft.

The meteoric rise of Nvidia is driven by the artificial intelligence boom, as investors bet big on its ability to provide the nuts and bolts behind this latest tech.

So to gauge just how far and how fast they've come, it's worth looking at where the share price was at the start of this year.

And as you can see, it was under $500 a share.

On Wednesday, it closed at over $1,200 a share.

It actually went up 5% in value on Wednesday alone, giving the market cap of Just over $3 trillion, a mind-boggling sum.

Let's hear more from our North America business correspondent, Erin Delmore.

All-time high closes for the S&P 500 and the NASDAQ.

The latter powered by, you guessed it, Nvidia.

The chipmaker joined the $3 trillion club on Wednesday, overtaking Apple as the world's second most valuable company.

NVIDIA is only the third company to ever exceed $3 trillion in market value.

It's leading in the race to develop the chips needed to enable new artificial intelligence applications.

And that's where the other tech giants, and a lot of companies, are spending big bucks right now.

Nvidia shares ended the trading day up more than 5%.

Alphabet, Amazon, Apple, Meta and Microsoft all ended the day up as well.

The major indexes have been hitting high water marks over and over in 2024.

This marks the Nasdaq's 13th record close this year and the 25th for the S&P.

And for more on the rise and rise of Nvidia, I talked to market analyst Anna McDonald.

Nothing comes close to Nvidia's dominance when you start thinking about artificial intelligence.

Jensen Yuan, the CEO, has talked about it being the new next industrial revolution.

We've had Microsoft and Apple, such as store warts of the equity markets.

And then Nvidia seems to have come out of nowhere over the last few years, having been a computer gaming chip company.

And now here it is just delivering huge revenue increases and becoming more profitable while it's doing it.

So it's actually, it's been an astonishing ascent.

Are you concerned, Anna, when it comes to AI, that we've got a bubble going to burst on markets at some point?

Any kind of massive rise in share prices is gonna lead to that.

But I suppose I would say that Nvidia is actually selling these chips.

This is not some kind of story that's being pushed out further and further and some kind of promise for the future.

They are actually delivering revenue and profit growth.


Speaker 0: Been another record-breaking day on Wall Street, with Big Tech very much leading the charge. Both the S&P 500 and the NASDAQ hit record closes on Wednesday as the chip-making giant, Nvidia, broke the $3 trillion valuation mark, overtaking Apple and becoming the second most valuable public company in the US behind Microsoft. The meteoric rise of Nvidia is driven by the artificial intelligence boom, as investors bet big on its ability to provide the nuts and bolts behind this latest tech. So to gauge just how far and how fast they've come, it's worth looking at where the share price was at the start of this year. And as you can see, it was under $500 a share.

On Wednesday, it closed at over $1,200 a share. So that's just the rise this year. It actually went up 5% in value on Wednesday alone, giving the market cap of Just over $3 trillion, a mind-boggling sum. Let's hear more from our North America business correspondent, Erin Delmore.

Speaker 1: Wall Street's on a record breaking run. The latest? All-time high closes for the S&P 500 and the NASDAQ. The latter powered by, you guessed it, Nvidia. The chipmaker joined the $3 trillion club on Wednesday, overtaking Apple as the world's second most valuable company.

Microsoft is still the world's number 1. NVIDIA is only the third company to ever exceed $3 trillion in market value. It's leading in the race to develop the chips needed to enable new artificial intelligence applications. And that's where the other tech giants, and a lot of companies, are spending big bucks right now. Nvidia shares ended the trading day up more than 5%.

Alphabet, Amazon, Apple, Meta and Microsoft all ended the day up as well. The major indexes have been hitting high water marks over and over in 2024. This marks the Nasdaq's 13th record close this year and the 25th for the S&P.

Speaker 0: And for more on the rise and rise of Nvidia, I talked to market analyst Anna McDonald.

Speaker 2: Nothing comes close to Nvidia's dominance when you start thinking about artificial intelligence. Jensen Yuan, the CEO, has talked about it being the new next industrial revolution.

Speaker 0: And I think it's just astonishing,

Speaker 2: isn't it? We've had Microsoft and Apple, such as store warts of the equity markets. And then Nvidia seems to have come out of nowhere over the last few years, having been a computer gaming chip company. And now here it is just delivering huge revenue increases and becoming more profitable while it's doing it. So it's actually, it's been an astonishing ascent.

Speaker 0: Are you concerned, Anna, when it comes to AI, that we've got a bubble going to burst on markets at some point?

Speaker 2: Any kind of massive rise in share prices is gonna lead to that. But I suppose I would say that Nvidia is actually selling these chips. This is not some kind of story that's being pushed out further and further and some kind of promise for the future. They are actually delivering revenue and profit growth. Right.

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Tech giant Nvidia's value overtakes Apple | BBC News