Nvidia’s market value gets $2 trillion boost in 2024 on AI rally
(Reuters) – Nvidia emerged as the largest world gainer in market capitalization for 2024, pushed by surging curiosity in synthetic intelligence and the strong demand for its AI-centric chips throughout varied industries.
The chipmaker’s market worth elevated by over $2 trillion final 12 months, reaching $3.28 trillion on the shut of 2024, making it the second-most invaluable listed firm on the planet. Its market worth was $1.2 trillion on the finish of 2023.
In the meantime, Apple continued to steer world firms in market worth, nearing a historic $4 trillion valuation. This surge was fuelled by investor enthusiasm for the corporate’s anticipated AI enhancements, aimed toward revitalizing sluggish iPhone gross sales.
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On the finish of 2024, Microsoft ranked third with a market worth of $3.1 trillion, adopted by Alphabet Inc and Amazon, every valued at roughly $2.3 trillion.
These tech firms considerably boosted their respective world indexes in 2024, with the S&P 500 index surging 23.3% and the Nasdaq climbing 28.6%.
Regardless of the shares’ larger valuations, looming U.S.-China tariff tensions, and probably slower U.S. rate of interest cuts, analysts stay optimistic concerning the sustained sturdy efficiency by tech corporations in 2025.
Daniel Ives of Wedbush predicts a 25% achieve in tech shares in 2025, attributing potential development to a much less regulatory setting below Donald Trump, forthcoming sturdy AI initiatives, and a steady basis for Huge Tech and Tesla in 2025 and past.
“We imagine tech shares will probably be strong in 2025 on the shoulders of the AI Revolution and $2 trillion+ of incremental AI cap-ex over the following 3 years,” he stated.
(Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Modifying by Mrigank Dhaniwala)
