Nvidia sets monthly record with unprecedented increase in market value in January

(Reuters) – NVIDIA Corp saw a record rise in market value in January, its biggest monthly gain ever, driven by increased optimism around artificial intelligence (AI), positive analyst projections and the company’s announcement of expanded AI offerings.

The world’s most valuable chipmaker saw its market value increase by an unprecedented $296.52 billion to around $1.52 trillion, surpassing the previous high of $248.23 billion in profits from May 2023.

Last month, Nvidia shares climbed to new highs after announcing new desktop graphics processors and improvements in AI-related components and software.

Meanwhile, Microsoft, the world’s most valuable company, also saw robust market value growth, adding $159.36 billion, largely due to rising demand for its Azure cloud service.

The tech giant reported higher-than-estimated quarterly profit and revenue on Tuesday, although investors grew cautious about rising costs, which are expected to rise “materially” sequentially.

As of Wednesday, Microsoft’s market value was $2.95 trillion, higher than Apple Inc.’s $2.85 trillion market capitalization.

Meanwhile, Meta Platforms saw a strengthening in its market value last month, crossing the $1 trillion mark for the first time since September 2021.

Meta’s shares rose more than 14% to a record high of $451 after the bell on Thursday, boosting its market cap by $148 billion to $1.16 trillion after the Facebook owner posted a 25% increase in revenue to $40.1 billion for the December quarter and announced its first profit. ever dividend.

At the other end of the spectrum, Tesla Inc emerged as the weakest performer…

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