2024-2-24 18:25 |
Quick Take
Nvidia, renowned for its AI and accelerated computing solutions, recently posted a staggering $60 billion in revenue, marking a significant milestone in its financial journey. The stock has been up almost 280% in the past year.
NVDA Share Price: (Source: Trading View)This immense revenue influx resulted in an unprecedented addition of $247 billion to Nvidia’s market cap in a single day – a record-setting event in the stock market, according to Bloomberg and shared by IPOArena. With this colossal leap, Nvidia’s market cap placed it as the fifth-largest asset, surpassing Amazon and approaching the $2 trillion threshold, a feat only achieved by a select few.
An interesting comparison to note here is that Nvidia’s market cap is roughly double that of Bitcoin, which has previously reached the $1 trillion mark.
Bloomberg data shows that Nvidia’s market cap surge surpassed Meta’s considerable $197 billion jump earlier in February, which occurred after their earnings beat, highlighting the magnitude of Nvidia’s financial triumph.
Top 10 Biggest Single-Day Market Cap Gains: (Source: Bloomberg)This event coincides with the S&P 500 hitting record highs, reflecting a 7% increase this year, underscoring a bullish trend in the broader market landscape.
The post Nvidia sets stock market record with $247 billion addition to market cap in one-day – Bloomberg appeared first on CryptoSlate.
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