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7 days ago

June 20, 2024

James Williams

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Nvidia soars 147% in 2024 and surpasses Apple's value on the stock market
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Nvidia shares finished higher once again this Wednesday (06), reaching 5.2% on the New York Stock Exchange. The rise caused the company to reach US$3 trillion in market value. The technologies developed by the computer chip manufacturer using artificial intelligence caused Nvidia to increase by 147% this year, a result that made the company surpass Apple's market value.

Nvidia X AI

The company has done well with its investments in artificial intelligence, helping to place it as the third most valuable technology company in the world as of the beginning of 2024. After overtaking Apple, Nvidia is now only behind Microsoft in terms of market value, but according to Wall Street experts it is just a matter of time.

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The growth of generative artificial intelligence has transformed the technology industry, completely changing the capabilities of systems. For example, DLSS technology allows processors to run videos and games at a higher resolution and frame rate.

According to Jensen Huang, CEO of Nvidia, the idea is for the company to play an important role in these new technologies and the company plans to update its AI accelerators every year from now on.

_{Presentation of technologies driven by the use of AI developed by Nvidia (Video: Reproduction/Youtube/Nvidia)}

Rocket without reverse

The company continues to exceed earnings and share price expectations. Experts expect Nvidia's net profit to rise to $65 billion, more than double the previous year. Information shared by Bloomberg reveals that these projections have increased by 10% in the last month alone.

As for Nvidia shares, they reached their highest record level in recent days. Bank of America analysts raised their target price for the shares to US$1,500, justifying further improvement in their growth for the future.

In an interview with Bloomberg, the founder of Katam Hill, Adam Gold, said that reaching Nvidia's level “it’s like trying to catch up with a marathon runner who is running at full speed”. For Adam, the company is already far ahead in the use of artificial intelligence, and they are ready to further widen the gap with other large companies in the sector.

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Gold's opinion is not restricted to just a few people in the market, a growth that was treated with caution and skepticism, every day proves that it is just the beginning of a great dynasty of chips known as accelerators. Nvidia still has no direct competitors for this technology and is far from being the greatest exponent of AI on the planet.

Featured photo: Photo of the Nvidia facade (Reproduction/Nvidia)

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