Nvidia hits record high as analyst predicts AI 'Golden Wave'
Nvidia
's stock hit a record high on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of
artificial intelligence
.
Shares of the Santa Clara, California-based company rose over 4% to a record high of $154.10. The rise sent Nvidia's
stock market
value to $3.76 trillion, overtaking Microsoft , which was last valued at $3.65 trillion following a 0.2% increase in its stock.
Fueling Nvidia's latest rally, Loop Capital lifted its price target for the designer of high-end AI processors to $250 from $175, while maintaining its "buy" rating.
"Our work suggests we are entering the next 'Golden Wave' of Gen AI adoption and NVDA is at the front-end of another material leg of stronger than anticipated demand," Loop Capital analyst Ananda Baruah wrote in a client note.
Nvidia's latest gains reflect the U.S. stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.
Nvidia recently traded at about 30 times analysts' expected earnings for the next 12 months, below its average of about 40 over the past five years, according to LSEG data. That relatively modest price-to-earnings valuation reflects steadily increasing earnings estimates that have outpaced Nvidia's sizable stock gains.
Nvidia, Microsoft and Apple have traded places several times as the world's most valuable company over the past year, with Microsoft leading recently after overtaking Nvidia in early June.
Apple's stock rose 0.4% on Wednesday, putting its value at $3.0 trillion.
Nvidia has now rebounded over 60% from its closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. U.S. stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.
The S&P 500 technology sector index was last up 0.9% at an all-time high. It has now gained almost 6% in 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Value Chain
8 minutes ago
- Fashion Value Chain
Deep-Tech Firm BUSINESSNEXT Continues Strong Streak: Recognized in Gartner Sales Force Automation Magic Quadrant™ for 12 Consecutive Years
BUSINESSNEXT, a deep-tech autonomous banking platform, has been recognized in the 2025 Gartner Magic Quadrant for Sales Force Automation Platforms report. The platform was evaluated for its comprehensive suite of enterprise solutions, with a focus on its Sales Force Automation (SFA) capabilities. The company has been receiving this recognition from Gartner for the past 12 years, reflecting its innovation in the financial services domain. This position places BUSINESSNEXT among the top 13 companies globally in the sales force automation platform, demonstrating its industry-focused approach and advanced solutions to deliver cutting-edge solutions. Its SFA capabilities include guided selling, predictive analytics, and an AI-driven strategy. In the past year, the company introduced prebuilt Sales AI Agents for various industries and an agent builder that supports custom topics and actions. It also introduced agentic AI Autoflow Designer enhancements, generative AI (GenAI)-driven call preparation and a 'Model Garden' that serves as a repository for prebuilt GenAI models. Additionally, the platform includes specialized agents with dedicated solutions for retail banking, corporate banking, and insurance. The report highlights BUSINESSNEXT's strengths in key areas such as its easy-to-use mobile app, which lets users enter data by typing or speaking, get helpful AI reminders, see customer opportunities immediately, and manage daily tasks, calls, and meetings. It also stands out for its use of AI and machine learning, offering ready-made models for finance, smart agent creation, and helpful features such as sales insights and account overviews. For account and contact management, the platform provides clear tools to view relationships and transactions, utilizing AI to maintain clean and well-segmented contact lists. Rahul Sheth, Vice President, BUSINESSNEXT, said, 'This recognition from Gartner highlights the persistent need to provide innovative, scalable solutions that empower sales teams to exceed their goals while delivering exceptional customer experiences.' About BUSINESSNEXT BUSINESSNEXT develops composable cloud platforms for financial services, offering AI-powered solutions in CRM, digital lending, servicing, and risk management. With over 1 million users and managing 1 billion end customers globally, the company is driving the future of autonomous financial operations. Headquartered in Noida, the company is trusted by 7 of the top 10 Indian banks, covering 61% of the country's total banking AUM. It has its presence across 5 continents with offices in 14 countries, including North America, the Middle East, and APAC. BUSINESSNEXT was recently ranked #1 in The Forrester Wave™ for Financial Services CRM 2025 and has been featured in the Gartner Magic Quadrant for 12 consecutive years. For more information visit:
Time of India
8 minutes ago
- Time of India
SoftBank builds Nvidia, TSMC stakes under Masayoshi Son's focus on AI gear
Synopsis At the heart of SoftBank's AI ambitions is chip designer Arm Holdings Plc. Son is gradually building a portfolio around the Cambridge, UK-based company with key industry players, seeking to catch up after largely missing a historic rally that's made Nvidia into a $4 trillion behemoth and boosted its contract chipmaker TSMC near a $1 trillion value.
&w=3840&q=100)
Business Standard
8 minutes ago
- Business Standard
India Services PMI hits 11-month high in July on strong export demand
India's services sector continued its strong run in July, with the HSBC India Services Purchasing Managers' Index (PMI) climbing to an 11-month high of 60.5, up slightly from 60.4 in June, according to S&P Global data released on Tuesday. Survey respondents cited strong advertising campaigns, new client onboarding, and solid demand as the primary drivers of growth. Export orders improved, with Indian firms securing contracts from Asia, Canada, Europe, the UAE, and the US. Sectorally, finance and insurance led growth, while real estate and business services lagged. Hiring slows despite demand surge Despite healthy order books, employment growth eased to its weakest pace in 15 months, with fewer than 2 per cent of surveyed companies adding staff in July. 'At 60.5, the services PMI indicated a strong growth momentum, led by a pick-up in new export orders. Future optimism rose but remained below 1H25 levels,' said HSBC's Chief India Economist Pranjul Bhandari. Price pressures intensify The report noted that input costs and output charges were rising at a faster pace than in June, reflecting higher food, freight, and labour expenses. Manufacturing at 16-month high Meanwhile, manufacturing activity gathered momentum, with the HSBC India Manufacturing PMI climbing to a 16-month high of 59.1 in July from 58.4 in June. The manufacturing upturn was driven by robust gains in new orders and output, though business sentiment and hiring momentum softened. Composite PMI at fastest pace since April 2024 The composite PMI, which combines both manufacturing and services, edged up to 61.1 in July from 61.0 in June, the quickest pace since April 2024. However, the Future Output Index fell to its lowest since March 2023, signalling that while current demand is strong, growth expectations are becoming more cautious.
