Wall Street was upbeat last week, fueled by Nvidia’s stellar earnings report. The S&P 500 added 1.7%, the Dow Jones advanced 1.3% and the Nasdaq gained 1.4% last week. The S&P 500 and the Dow Jones hit fresh records while the Nasdaq Composite ended Friday down slightly, marking a pause in the market’s meteoric rise.
Nvidia’s Ascendancy and Market Impact
Nvidia’s blowout earnings report sent a spell of rejoice through Wall Street, propelling the AI chipmaker to new heights. The company’s market value skyrocketed by $277 billion in a single day, marking the largest single-day gain in Wall Street history. With Nvidia’s shares continuing to surge, the company is now on the brink of achieving a monumental $2 trillion valuation, solidifying its position as a dominant force in the semiconductor industry and a key player in the AI revolution.
