NvidiaTops $5 Trillion:Nvidia's shares jumped sharply on Friday, pushing the company's market value above $5 trillion for the first time since October. Investors are once again pouring money into artificial intelligence stocks. The stock rose 4.3% to close at $208.27. At one point during the day, Nvidia's market value touched about $5.12 trillion, according to Yahoo Finance.
The rally shows just how strongly Wall Street believes in the future of AI.
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Nvidia makes the powerful chips used to train and run artificial intelligence models. Its customers include tech giants such as Google, Microsoft, Meta, and Amazon.
AI companies like OpenAI and Anthropic also rely heavily on Nvidia's hardware.
According to CNBC, Nvidia's stock has surged more than 14 times since the end of 2022.
The latest jump came after strong earnings from Intel. Intel's shares soared 24%, their biggest one-day gain since 1987.
Other chipmakers also rallied. Advanced Micro Devices rose 14%, while Qualcomm gained 11%.
This broader rally has lifted the entire semiconductor sector.
Earlier this year, technology stocks had come under pressure because of rising oil prices and worries linked to the Iran conflict. But investors are now returning to tech, betting that AI spending will remain strong no matter what happens elsewhere.
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