Investors return to technology and Nvidia exceeds a trillion dollars on the stock market

by time news

2023-05-30 18:30:19

The big technology companies shine again on the Stock Market hand in hand with the high expectations for the development of Artificial Intelligence (AI). After a disastrous 2022 for these values, the Nasdaq index – which includes listed companies in the sector – is revalued by close to 30% this year, with values ​​that have doubled their price due to a strong improvement in their business results.

If new projects related to AI are added to this, the buying madness is served. This is what is happening with the Nvidia stock, which has just introduced a new technology that allows users to engage in conversations with virtual characters receiving natural responses.

The company, which has appreciated more than 180% in 2023, made history on Wall Street on Tuesday by exceeding a trillion dollar market value, entering a select club in which only nine companies have entered throughout the history.

Right now it is the fifth largest listed company, only surpassed by Apple (2.8 billion), Microsoft (2.5 billion), Alphabet (1.6 billion) and Amazon (1.2 4 billion). All technological. Others like Meta or Tesla also did it in their day, but they are already trading below that trillion dollar barrier.

“Despite the high share price, the excitement surrounding Nvidia shows no signs of abating, reflecting continued investor interest,” explains Gabriel Debach, eToro Markets Analyst.

In his opinion, as AI becomes more widespread, the possibilities for companies and society as a whole are simply amazing; this promises a future of unprecedented innovation, efficiency and possibilities, but you have to be careful not to fly too close to the sun and get burned,” he explains.

Europe failed to catch the bullish push from technology companies and, after an opening of strong rises, the Ibex-35 ended the session with a decrease of 0.14% below 9,200 points. Solaria (-4.21%) and Repsol (-2.28%) were the most bearish values ​​in a day also marked by another sharp fall in the price of oil.

Specifically, a barrel of Brent crude oil, a benchmark in Europe, lost more than 4% at the close of the market, to 73 dollars, while US West Texas was around 69.56 dollars.

#Investors #return #technology #Nvidia #exceeds #trillion #dollars #stock #market

You may also like

Leave a Comment