On Friday, the value of the technology company Nvidia closed above $2 trillion. This happened for the first time after a positive report by Dell Technologies. Dell creates high-quality servers using Nvidia’s computers parts. It recently predicted a big rise in orders for its servers.
On Friday, Nvidia’s value rose to $2.06 trillion, making it the third most valuable company on the U.S. stock market. It followed Microsoft and Apple, which are worth $3.09 trillion and $2.77 trillion respectively.
Nvidia’s shares also became the most traded stock on Wall Street, replacing Tesla. In the past 30 days, investors traded $36 billion worth of Nvidia’s shares on average.
In just one day on February 23, Nvidia added $277 billion to its value on the stock market. This is a record. After this, it predicted a big increase in its quarterly income. As a result, Nvidia’s shares have gone up 66% this year, after more than tripling last year.
Another company, Super Micro Computer, which also makes servers with Nvidia’s parts, saw its shares rise 4.5%. Finally, other chipmaker companies that are connected to AI technology reached record high values, with Broadcom and Marvell Technology up about 8%.
Saudi Aramco is another company with a value above $2 trillion. But, most of it is owned by the Saudi Arabian government and less than 2% of its shares are available for trade.
Vocabulary List:
- Trillion (noun): A number equal to a thousand billion or a million million.
- Valuable (adjective): Very useful or important.
- Stock Market (noun): A market for the trading of company stocks.
- Predicted (verb): Foretold or forecasted future events or trends.
- Tripling (noun): Increasing three times in quantity or size.
- Available (adjective): Accessible or obtainable.
