Nvidia rockets into 2024 with 9% surge, poised for continued dominance in AI chip market

In just 10 days into the new year, Nvidia Corp has surged nearly 9%, reclaiming its position at the top. Despite more than tripling in 2023, the demand for its AI computing chips keeps propelling its stock to record highs. With a market value exceeding $1.3 trillion, Nvidia aims to continue its growth in 2025. Despite challenges, such as chip export restrictions, the company remains resilient, introducing new products and projecting a robust fiscal year with profits expected to reach nearly $28 billion. Investors anticipate another solid year for Nvidia, with a 2.3% intraday rise on Wednesday affirming their confidence.

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Nvidia's Stock Breakout Puts Amazon Within Sight

By Carmen Reinicke

Just 10 days into the new year and a familiar stock is back near the top of the leaderboard: Nvidia Corp.

After struggling for months to break out above $500 a share, last year's best performer in the S&P 500 has pushed decisively into record territory with a nearly 9% advance. With its market value now at more than $1.3 trillion, it's less than $250 billion shy of Amazon.com Inc., the fourth-most valuable company in the benchmark.

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