Nvidia’s stock has skyrocketed, adding a staggering $765 billion to its market value in just eight trading days, marking one of the most remarkable rallies in recent memory.
Shares have surged 31% since dipping below $100 on August 7, outpacing the Nasdaq 100’s gain of 11% during the same period.
This rapid ascent underscores the tech giant’s resilience and the unwavering faith investors place in its future.
The surge represents Nvidia’s largest eight-day gain since its AI-driven earnings report in May 2023, when the stock jumped 33%.
It’s also the biggest single-period market cap gain in the company’s history.
This V-shaped recovery comes on the heels of a broader market rally, fueled by optimistic economic data that soothed recession fears.
From its July 10 peak of nearly $135, Nvidia’s stock tumbled 27% by August 7, as concerns over an economic slowdown, delays in the next-gen Blackwell AI GPU, and doubts about AI spending weighed heavily on investor sentiment.
However, by Monday’s close at $130 per share, Nvidia was within striking distance of its all-time high.
Whether this extraordinary rally can be sustained hinges on the company’s upcoming earnings report, set to drop next week.
Wall Street analysts remain bullish.
Wedbush’s Matt Bryson noted that “everyone is committed to spending on AI through the Blackwell launch,” and that there’s likely “another year-plus of elevated AI spend.”
Bryson remains confident in Nvidia’s momentum, maintaining a ‘buy’ rating and predicting another strong quarter.
Mizuho’s Vijay Rakesh also made a timely call earlier this month, raising his price target amid the stock’s decline.
Rakesh emphasized that “demand remains unchanged,” underscoring Nvidia’s leadership in the AI space.
Nvidia’s meteoric rise has significantly boosted co-founder and CEO Jensen Huang’s net worth by $27 billion since August 7, elevating him to the 11th richest person globally with $114 billion, according to Bloomberg.
The company now boasts a market valuation of $1.15 trillion, reflecting a remarkable $765 billion increase in just eight days.
This gain surpasses the entire market value of business giants like Tesla, JPMorgan, and Walmart.
It’s a testament to Nvidia’s unmatched dominance and the enduring strength of its AI-driven vision.
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