While Wall Street eagerly awaits earnings releases from Microsoft, Meta, Google and Amazon in the terms of spending on AI infrastructure, Nvidia shares rose to an all-time high Monday before closing at $138.07.
The stock has been on a stupendous march, rising close to 180% this year, following a feverish surge last year; it's also a reflection of Nvidia's renowned stronghold on the AI chip market, 70% to 95% of which is controlled by the outfit, estimates from Mizuho Securities reveal. Indeed, with a market cap of $3.4 trillion, Nvidia is now the second-most valuable U.S. company, behind only Apple.
At the top, of course, is Nvidia CEO Jensen Huang, who is himself now estimated to be worth a cool $121.5 billion, according to Forbes. The ride looks likely to continue too. In addition to the aforementioned continuing demand for its current chips, earlier this month Huang said the company is seeing "insane" demand for its next-generation Blackwell chips, which are set to ship in the fourth quarter. According to Morgan Stanley, which has just concluded meetings with Huang and other Nvidia execs, the chips are already sold out for the next 12 months according to the latest report.