Nvidia’s Stock Market Value Is on the Verge of Surpassing Amazon

Wall Street’s enthusiasm about artificial intelligence has Nvidia on the verge of becoming more valuable than Amazon for the first time in two decades, and the AI chipmaker is not far behind Google-owner Alphabet.

A 40% surge in Nvidia so far in 2024 has elevated its market capitalization to $1.715 trillion as of mid-day trading on Wednesday, only about 3% below Amazon’s $1.767 trillion value, and less than 6% below Alphabet’s $1.812 trillion value, according to LSEG data.

Nvidia’s shares gained 1.8% to $694.48 after an optimistic report from Morgan Stanley. Nvidia reports quarterly results on Feb. 21.

Read the source article at Yahoo Finance