NVIDIA becomes most valuable company with $5 trillion market value
NVIDIA just smashed another milestone: its stock jumped 4.3% to a record high since October of $208.26, sending its market value soaring past $5 trillion.
That officially makes NVIDIA the most valuable company on the planet right now.
The hype around AI is a big reason for this surge, and NVIDIA's stock alone has climbed 12% this year, powering about 20% of the S&P 500's growth.
Philadelphia Semiconductor Index surges 47%
It's not only NVIDIA riding this wave; the whole semiconductor scene is buzzing. The Philadelphia Semiconductor Index has gained for a record 18th straight session, up 47%.
Big names like Texas Instruments and Intel are also seeing strong earnings. According to strategist Paul Nolte, heavy spending on AI is what's really putting chipmakers like NVIDIA in the spotlight.
With major tech companies about to report earnings soon, everyone's watching to see if this momentum keeps rolling.