On Tuesday, NVIDIA’s market value reached $1.78 trillion, surpassing Amazon’s $1.75 trillion, marking the first time since 2002 NVIDIA has outvalued Amazon at market close.
The surge to $721.28 per share reflects a 246% increase over 12 months, driven by demand for its AI server chips, essential to companies like Microsoft, OpenAI, and Meta for AI products.
Despite Amazon’s 78% share increase following a 27,000 employee layoff and strong quarterly results, NVIDIA’s growth highlights the tech sector’s dynamic valuation shifts. NVIDIA’s anticipated sales growth is 118% year-on-year, with earnings expected on Feb. 21.
