The previous maximum was recorded in May 2023, when the monthly “jump” was about $250 billion.
Nvidia marked a record surge in market value in January, recording the largest monthly increase in its history — by $300 billion to a total of $1.52 trillion. The interest in the company is driven by increased optimism about artificial intelligence and its recent announcement to expand its offerings for the new technology.
The company’s stock hit new highs last December after announcing new desktop GPUs and improvements to its artificial intelligence components and software.
Microsoft, meanwhile, stood out as the world’s most valuable company, adding $159.36 to its value, largely due to increased demand for its Azure cloud service. The tech giant released its quarterly earnings report the other day and announced AI spending, which is expected to “increase significantly” on a sequential basis.
As of Wednesday, Microsoft’s market value was $2.95 trillion, pushing it ahead of Apple from $2.85 trillion. Meta strengthened its position last month, surpassing the $1 trillion mark in market value for the first time since September 2021. And Tesla lost about 24.5% of its value on fears of a slowdown in growth. CEO Elon Musk has warned that sales growth will be “significantly lower” this year despite recent price cuts.
Source: Reuters
