Nvidia's Stock Reaches New Highs Amid AI Boom
Nvidia (NVDA) closed the week on August 8 at an all-time high, driven by investor enthusiasm for artificial intelligence (AI) advancements. The company's stock ended at $182.70 on a split-adjusted basis, marking a new record.
Impressive Year-to-Date Performance
This year, NVDA has surged 36%, achieving 19 new all-time highs, fueled by optimism around a new AI model from OpenAI and anticipated increased spending by Tesla (TSLA).
Significant Market Growth
Over the past 12 weeks, Nvidia's shares have climbed nearly 75%, elevating its market capitalization to $4.46 trillion and positioning it as the world's most valuable publicly traded company.
Supporting News and Developments
Recent news also supported Nvidia's rally, including exemptions from proposed U.S. tariffs on microchip imports, benefiting companies like Nvidia. Additionally, OpenAI's launch of GPT-5 and CEO Sam Altman's praise for Nvidia as a key partner bode well for the chipmaker's sales.
Industry Trends and Investment Outlook
Tesla's plans to reduce its internal microchip production and reliance on Nvidia hardw...