NVIDIA Near To Break Into $1 Trillion Club; Will Other AI Stock Rally? – Crypto News – Crypto News
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NVIDIA Near To Break Into $1 Trillion Club; Will Other AI Stock Rally? – Crypto News

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Nvidia Corp (NASDAQ: NVDA) is set to make history with one of the highest one day gains in the traditional financial market. The chip designer’s share price exploded to extend its rally on Thursday. This massive surge has led Nvidia to stand near the $1 trillion market cap. However, experts expect that this surge might help other AI firm’s share prices to surge.

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Nvidia Stock Price Zooms By 25%

As per the data, Nvidia Corp’s (NASDAQ:NVDA) stock price soared by a massive 30% in the pre market trading. The chip maker’s share price standing at $305.38 was valued at around $394.12 in the same session. At the press time, its share is trading at an average price of $378 surging by 24% in the session. However, its price is up by 168% on a year to date basis.

It is important to note that this whopping surge comes in the midst of the global financial crisis. However, the chip maker’s CEO Huang expects to have a giant record year. Data suggests that the firm forecasted $11 billion in sales for the three months ending in July. This is reportedly 50% more than what Walls Street previously estimated.

As per reports, sales are spiking as the demand for the graphics processors (GPUs) Nvidia makes is on a surge. These processors are highly used by Google, Microsoft, and OpenAI to power their artificial intelligence (AI) applications.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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