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Nvidia stock hits new all-time high, market cap at $5.7 trillion
Yahoo Finance • • business
Key Points:
- Nvidia's stock reached a new intraday high of $237.55, surpassing its previous peak of $235.54, with a market capitalization hitting $5.7 trillion.
- The company's strong performance is driven by increased global spending on AI infrastructure, positioning Nvidia as a leading player in the AI hardware sector.
- Nvidia reported impressive Q2 earnings with $96.2 billion in revenue and projected Q3 sales between $105.8 billion and $110.1 billion, exceeding Wall Street expectations.
- Despite Nvidia's success, the AI market faces volatility and concerns over a potential bubble, as well as scrutiny over circular investing practices involving Nvidia and its customers.
- Competition is intensifying from AMD, Amazon, and Google, which are developing their own AI hardware solutions to challenge Nvidia's dominance.
