Nvidia, as we know, controls about 80 per cent of the high-end chip market. Nvidia’s shares gained in just one day $277 billion or Rs. 22 trillion in stock market value on Thursday, 22 February 2024. The gain was attributed to excellent quarterly report and optimism about AI adoption all over. It should be noted that the one-day gain of Nvidia exceeds the total market capitalization of Reliance Industries which is $250 billion or Rs. 20.2 trillion. In past Meta (Facebook’s parent company) had recorded a record gain of $196 billion in a day. However, Nvidia’s gain is the largest in Wall Street’s history.

Jensen Huang, the Chief Executive Officer of Nvidia climbed to the 21st position on the Bloomberg Billionaire Index (from previous 128th position). His wealth jumped to $69.2 billion (from $13.5 billion).

The rise in Nvidia’s market value eclipsed the entire value of coca cola ($265 billion).

Nvidia has become the third most valuable company in the US stock market. It has gone ahead of Amazon and Alphabet. At present, Microsoft and Apple valued at $3.06 trillion and $2.85 trillion respectively are two most valuable companies.