Nvidia rallies to record high as chipmaker announces AI-related components

Reuters | January 8, 2024

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(Reuters) – Shares of Nvidia surged to a record high close on Monday after the world’s most valuable chipmaker unveiled new desktop graphics processors taking advantage of artificial intelligence.

Nvidia’s stock climbed 6.4% to end at $522.53, its highest close ever, after the company announced the GeForce RTX 40 SUPER Series of graphics processors, aimed primarily at videogame enthusiasts.

Ahead of the Consumer Electronics Show in Las Vegas, Nvidia also announced other components and software related to AI.

Viewed as the leading supplier of processors used in AI computing, Nvidia’s stock more than tripled in 2023.

Traders exchanged over $32 billion worth of Nvidia’s shares during Monday’s session, making it the most traded company on Wall Street, according to LSEG data. Nvidia’s stock market value now stands at nearly $1.3 trillion.

The latest rally in Nvidia’s stock helped propel the PHLX semiconductor index 3.3% higher.


(Reporting by Noel Randewich, Editing by Rosalba O’Brien)


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