Nvidia’s shares dropped slightly after the chipmaker became the world’s second most valuable company, with a market cap of $3.01 trillion. This followed a 5.2% increase in share price on Wednesday, hitting an all-time high. The company’s CEO announced plans for new chips in 2025 and 2026, which contributed to investor enthusiasm.
With a 1.2% decrease in share price, Nvidia now sits just behind Microsoft in terms of market capitalization. Analysts are optimistic about Nvidia’s future growth potential, particularly in the AI sector. The company’s dominant position has caught the attention of regulators, with the Justice Department reportedly considering an antitrust investigation.
Other chip manufacturers like Advanced Micro Devices and Intel also saw slight declines in their share prices. Despite the dip, Nvidia’s shares have surged by 144% this year, significantly outperforming the S&P 500 and Nasdaq Composite indexes.
Analysts maintain a positive outlook on Nvidia, with a price target of $1,160. The company’s strategic initiatives and strong market position are expected to drive further growth in the future. For more on this story, contact Adam Clark at adam.clark@barrons.com.
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