Nvidia Shares Go on a $260 Billion Tear as Clients Splurge on AI [BNN Bloomberg (Canada)]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: BNN Bloomberg
The Santa Clara, California-based company's stock is up 15% this week, adding more than $260 billion in market capitalization and putting it on pace for its best weekly performance since last May. The surge comes after firms like Meta Platforms Inc., Alphabet Inc. and Microsoft Corp. pledged billions in AI investments. “The future is AI,” said Paul Marino, chief revenue officer at GraniteShares. “And if the largest companies in the world are pouring tens of billions of dollars each into this, I think Nvidia has to be the big winner.” The move is a sharp reversal from last Friday's 10% plunge, the shares' worst day in more than four years, which came amid fears that enthusiasm for chipmakers had run too far too fast after Taiwan Semiconductor Manufacturing Co. scaled back its expansion outlook. Nvidia currently dominates the lucrative market for accelerators that power data centers running complex computing tasks required for AI development. But the entire semiconductor industry
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