NVIDIA shares near May highs after 23% rally on AI
Business
NVIDIA's shares are climbing fast, almost reaching their highest level since May after a rough two-month slump that wiped out over $1 trillion in value.
The latest rally, up 23% from late July lows, comes as investors get excited about AI agents like Meta's Muse, which could drive increased demand for semiconductors.
NVIDIA market cap rises to $5.6T
NVIDIA isn't just riding the AI wave: it has also expanded its share buyback program by $150 billion and rolled out a new AI security system to address safety concerns.
These moves have boosted the company's market cap to about $5.6 trillion, putting it within striking distance of the massive $6 trillion mark and cementing its spot as a top player in tech.