NVIDIA Near To Break Into $1 Trillion Club; Will Other AI Stock Rally?

Also Read: Ripple Counsel Withdraws From Case; US SEC To Gain Upper Hand?

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Nvidia Stock Price Zooms By 25%

As per the data, Nvidia Corp’s (NASDAQ: NVDA) stock price soared by a massive 30% in the pre market trading. Chip maker’s share price standing at $305.38 was valued to be around $394.12 in the same session. At the press time, its share is trading at an average price of $378 surging by 24% in the session. However, its price is up by 168% on the year to date basis.

It is important to note that this whopping surge comes in amid the global financial crisis. However, the chip maker CEO Huang expects to have a giant record year. Data suggests that the firm forecasted $11 billion in sales for the three months ending in July. This is reportedly 50% more than what Walls Street previously estimated.

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As per reports, sales are spiking as the demand for the graphics processors (GPUs) Nvidia makes is on a surge. These processors are highly used by Google, Microsoft, and OpenAI to power their artificial intelligence (AI) applications.

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