Shares of Nvidia Corp. (NASDAQ-NVDA) are soaring to record highs, cementing its position as the world’s most valuable company. Nvidia Corp. (NASDAQ-NVDA) reached a record high, becoming the world’s largest company by market valuation at $3.58 trillion. Nvidia’s rise follows a tech rally after the election victory for U.S. President Donald Trump, with the Nasdaq 100 index rising nearly 3%. Global analysts predict that Nvidia’s valuation could soon surpass the stellar $4 trillion mark, thanks to the continued growth of the artificial intelligence market. Shares of Nvidia Corp (NASDAQ-NVDA) rose as much as 5% on Wednesday, hitting a record intraday high of $146.47 per share. Nvidia shares are up 194% since the start of this year, thanks to investors pouring billions of dollars into the stock at the center of a booming Wall Street trade.
Nvidia Corp (NASDAQ-NVDA) has also benefited from investments by large technology companies in its AI infrastructure to help run AI models such as OpenAI’s ChatGPT, Microsoft, which is a major customer of Nvidia’s GPUs and is the world’s third-largest company with a market capitalization of around $3.1 trillion. This is the first time Nvidia has topped the list of most valuable companies since the end of October this year. Nvidia Corp. will also report third quarter 2024 financial results on November 20. Nvidia Corp. (NASDAQ-NVDA) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 0.03% per annum and the actual dividend amount has been approved by the company’s board of directors at $0.04 per share. The average target price for the short to medium term investment horizon has been set at $151.36 per share.
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