Nvidia, the rising star of the chip industry coveted by artificial intelligence giants, shook the financial world with its extraordinary performance in 2023. Stock markets are still reeling from these breathtaking figures.
Nvidia takes Wall Street to new heights
Since the beginning of February, all eyes have been on Nvidia and its shares, and for good reason: an increase in market capitalization of $750 billion, fueled by rampant speculation around artificial intelligence.
Recently revealing details of its fourth quarter 2024, Nvidia reported $22 billion in revenue, leaving investors stunned. Now that the dust has settled, it is time to analyze the repercussions of this performance on the financial scene.
This Thursday, the main Wall Street indices got off to a flying start, driven by Nvidia’s exceptional results and optimistic forecasts. A wave of optimism has swept the markets, propelling indices to record highs this year, says Business Times.
The Dow Jones Industrial Average rose 0.60% to 38,845.19 points, while the S&P 500 opened 1.14% higher at 5,038.83 points. For its part, the Nasdaq Composite gained 2.08% to reach 15,904.48 points at the opening.
In Europe, markets also reacted positively, with futures rising for the Paris CAC 40 and the Dax in Frankfurt. However, the FTSE in London and the EuroStoxx 50 remained without a clear direction.
Nvidia made a splash by jumping 16.4% overnight, adding a record $277 billion in market value. This exceptional performance spurred the rise in technology stocks globally, propelling indices to new highs.
Although some regional technology stocks took a pause after a spectacular rally, the MSCI Asia-Pacific ex-Japan index gained further ground, reaching its highest level since March 2022.
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