BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Nvidia Surpasses $2 Trillion Dollar Market Cap Amid AI Frenzy

by Conie
February 23, 2024
in BUSINESS, FINANCE
Reading Time: 3 mins read
A A
1
SHARES
21
VIEWS
Share on XShare in TelegramShare on Reddit
  • Nvidia stock soared to a $2 trillion valuation after reporting blockbuster earnings, joining an exclusive club of mega-cap companies like Apple and Microsoft.
  • Nvidia added a record $273 billion to its market cap in a single day following earnings that blew past analyst forecasts with 769% annual profit growth.
  • Nvidia’s meteoric rise over the past year coincides with the AI craze on Wall Street as the chipmaker plays a crucial role powering AI systems.

Nvidia has joined an exclusive club. The chipmaker’s market value topped $2 trillion on Friday morning, just days after reporting blockbuster earnings that swept Wall Street into an artificial intelligence frenzy.

Massive Single-Day Jump

The company added a staggering $273 billion to its market cap on Thursday, the biggest single day increase ever for a company, according to Howard Silverblatt of S&P Dow Jones Indices. This came after Nvidia on Wednesday reported a 769% annual profit gain for the fourth quarter and a 580% full-year profit leap, blowing past analysts’ forecasts.

Hits Rare $2 Trillion Milestone

Only a handful of companies, including Apple and Microsoft, have ever reached the $2 trillion valuation milestone. Nvidia’s achievement comes after it recently surpassed Amazon and Alphabet to become the third-largest company on Wall Street behind Microsoft and Apple.

ICYMI: Nvidia $NVDA is now worth over $2 trillion

— BlockNews.com (@blocknewsdotcom) February 23, 2024

Meteoric Growth Over Past Year

Nvidia hit a $1 trillion market cap just last year, about 24 years after going public. Its skyrocketing growth over the past year coincided with the artificial intelligence craze on Wall Street that helped power a raging bull market. The S&P 500 and Dow closed at new highs on Thursday after Nvidia’s stunning earnings fueled a broad rally.

Crucial Role in AI Space

Nvidia has emerged as the poster child for AI on Wall Street because it plays a vital role in the burgeoning field. The American chipmaker dominates in making the processors that run artificial intelligence systems, including the hot new generative AI tech that can create text, images and other media.

Tags: $NVDABusinessNVDAnvidia
TweetShareShare
Previous Post

Avalanche Block Production Stalls Following Latest Inscription Wave

Next Post

Uniswap UNI Pumped 50% in 24 Hours and Here is Why

DON'T MISS THESE! HOT OFF THE PRESS

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?
CRYPTO

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Load More

Related News

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.