Finance

Nvidia’s market capitalization surged unprecedentedly in January, setting a monthly record


(Reuters) – NVIDIA Corp posted a record-breaking surge in market value in January, driven by optimism about artificial intelligence (AI), positive analyst forecasts and the company’s announcement of an expansion of AI products. Biggest monthly gain.

The world’s most valuable chipmaker’s market value increased by an unprecedented $296.52 billion to about $1.52 trillion, surpassing the all-time high of $248.23 billion set in May 2023.

Nvidia shares soared to new highs last month after announcing new desktop graphics processors and advances in artificial intelligence-related components and software.

At the same time, the market value of Microsoft, the world’s most valuable company, also grew strongly, increasing by US$159.36 billion, mainly due to the growing demand for its Azure cloud services.

The tech giant reported higher-than-expected quarterly profit and revenue on Tuesday, even as investors were wary of rising costs, which were expected to “increase significantly” sequentially.

As of Wednesday, Microsoft’s market capitalization was $2.95 trillion, surpassing Apple’s market capitalization of $2.85 trillion.

Meanwhile, Meta Platforms’ market capitalization strengthened last month, surpassing the $1 trillion mark for the first time since September 2021.

Meta’s shares soared more than 14% to a record high of $451 after Thursday’s close, adding $148 billion in market capitalization to $1.16 trillion after the Facebook owner boosted revenue in the December quarter by 25% to $40.1 billion. dollar and announced a 25% increase in its first-quarter revenue. Former dividends.

Tesla, on the other hand, became the worst-performing company among the world’s top 20 companies by market capitalization, losing about 24.5% of its market value last month due to concerns about slowing growth. Despite recent price drops, growth will be “significantly lower” this year.

In addition, the market value of Saudi Arabian Oil Company fell by 7.3%.

(Reporting by Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Stephen Coates)



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