Nvidia's market value surpasses Amazon's

17:34 - 13.02.2024

February 13, Fineko/abc.az. Nvidia's market capitalization surpassed the market value of Amazon shares during trading on February 12.

ABC.AZ reports that at an all-time high of $734.96 per share, Nvidia's market value was $1.82 trillion compared with company's $1.81 trillion of Amazon.com. The value is slightly behind Alphabet (the owner of Google), which has capitalization of $1.87 trillion.

According to the agency, the euphoria around artificial intelligence has lifted the chip manufacturer to 4th place in the ranking of the most valuable companies in the U.S.

The last time Nvidia was more expensive than Amazon was in 2002, when each of them cost less than $6 billion.

Earlier Amazon.com reported revenue for Q4, which exceeded expectations. Sales in this period increased by 14% to $170 billion, which exceeds the average analyst estimate of $166.21 billion. Investors are now awaiting Nvidia's quarterly results on February 21.

Nvidia shares have increased by 47% since the beginning of the year, which was the largest increase among the issuers included in S&P 500.