Nvidia rallies to record high as chipmaker announces AI-related components
Reuters
Published Jan 08, 2024 04:21PM ET
Updated Jan 08, 2024 06:35PM ET
(Reuters) - Shares of Nvidia (NASDAQ:NVDA) 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.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.