Nvidia shares surged 31% in eight days after the tech giant added $765 billion to its market value. This growth occurred during a broad wave of buying in the stock market, driven by encouraging economic data that eased recession fears.
Nvidia shares were approximately 31% higher than their recent low on August 7, when the stock price dropped below $100 per share. By the close of trading on August 19, Nvidia’s stock price reached $130, just a few percentage points below its record high.
Now, Nvidia shares are on the brink of potentially setting a new record, with investors eagerly awaiting the company’s earnings report, set to be released next week. Wall Street analysts remain optimistic about Nvidia’s future. Among them is Wedbush analyst Matt Bryson, who noted that “investment in AI will remain high until the launch of Blackwell.”
Nvidia also posted the largest market value gain over eight days in its history, pushing its market valuation to $3.15 trillion.ΠΌ