Nvidia Achieves Record High Stock Price Amid AI Infrastructure Spending Anticipation

Nvidia, a prominent AI chipmaker, has achieved a new record high in its stock price, closing at $138.07. This surge is fueled by the anticipation of forthcoming earnings updates from major technology companies such as Microsoft, Meta, Google, and Amazon, which are expected to disclose their spending on AI infrastructure. Over the course of this year, Nvidia’s stock has experienced a remarkable increase of nearly 180%, underscoring its leading role in the AI chip market where it holds a market share of between 70% to 95%. With a market capitalization of $3.4 trillion, Nvidia has ascended to become the second-most valuable U.S. company, positioned just behind Apple.