Nvidia Stock Hits New Record, Closing In On Title of Most Valuable Company In History

Nvidia (NVDA) shares jumped to an all-time high of $160.93 during morning trade on Thursday, on track to become the most valuable company in history.

Nvidia’s stock had pared some of its gains at the time of writing, still trading 1.5% in the green. The upswing came after Mizuho raised its price target on Nvidia to $185 from $170, maintaining an ‘Outperform’ rating on the shares. 

In a note to investors cited by TheFly, the brokerage said sequential AI data center growth could accelerate in the second half of this year and early next year, as GB200 supply issues ease and GB300 proves easier for server makers to handle.

On Stocktwits, retail sentiment around Nvidia improved to ‘neutral’ territory from ‘bearish’ a day ago, though chatter did not see an uptick.

Nvidia is already the most valuable company in the world with a market capitalization of $3.89 trillion, ahead of its Magnificent 7 peers, Microsoft (MSFT), which has a market capitalization of $3.71 trillion, and Apple (AAPL) with a market capitalization of $3.2 trillion.

However, the record is currently held by Apple’s all-time high closing value of $3.91 trillion in December last year. 

According to analysts, Nvidia's newest chips have made gains in the training of the latest AI models, fueling demand for the products made by the AI bellwether. 

IREN (IREN) on Thursday announced that it plans to buy 2,400 Nvidia Blackwell GPUs in a bid to expand its AI infrastructure. During the announcement, the company also said demand from AI-focused companies, cloud providers, and hyperscalers continues to grow. 

Nvidia’s stock has gained 17% this year and more than 30% over the past 12 months. The average price target on the shares stands at $174.18, according to Koyfin data, representing a potential upside of 9.19% from current price levels.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read also: Bitcoin’s Price Nears Record High At $110K, Fueled By ETF Inflows And Trump Fed Talk

Share

·

Add us on