Nvidia has achieved a remarkable surge in its market value, adding $765 billion over just eight trading days, driven by a 31% increase in its stock price.
This rapid ascent nearly tripled the Nasdaq 100's 11% gain within the same period and represents Nvidia's largest eight-day gain since May 2023, when the company saw a 33% increase following an AI-driven earnings report.
This impressive recovery follows a 27% decline from Nvidia’s July 10 high, where the stock faced pressures from concerns over economic slowdown, potential delays in the launch of its next-generation Blackwell AI GPU, and uncertainties around AI spending. However, renewed investor optimism, spurred by positive economic data and continued confidence in Nvidia's AI leadership, has driven the stock to near-record highs.
Wall Street analysts maintain a bullish outlook ahead of Nvidia's upcoming earnings report, with expectations of another "beat and raise" quarter. Wedbush analyst Matt Bryson emphasized the ongoing commitment to AI spending, particularly through the Blackwell launch, while Mizuho's Vijay Rakesh highlighted the sustained demand for Nvidia’s products.
Nvidia's current market valuation stands at $3.15 trillion, positioning it among the most valuable companies globally.
This surge has also had a significant impact on Nvidia's co-founder and CEO Jensen Huang, whose net worth has soared by $27 billion since August 7, reaching $114 billion. This places him as the 11th richest individual in the world, according to Bloomberg.
Nvidia's $765 billion gain in market value over this short period is larger than the entire market capitalization of major companies such as Tesla, JPMorgan, and Walmart, underscoring the company’s dominant position in the technology and AI sectors. The sustainability of this historic rally will largely depend on Nvidia’s performance in its upcoming earnings report, set to be released next week.