Nvidia's Unprecedented Growth: Market Cap Soars Past $3 Trillion

The semiconductor giant's success is driven by AI demand, but competition and valuation concerns loom.

Nvidia's stock has surged 150% in 2024, briefly making it the world's most valuable company.
The company's revenue from data centers grew 427% year over year, significantly boosting its market cap.
Wall Street analysts have mixed views on Nvidia's future performance amid rising competition and high valuation.
Other semiconductor and tech companies like Meta and Axcelis Technologies are also capitalizing on the AI boom.
Historical trends suggest Nvidia's stock could continue to perform well in the latter half of 2024.