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Nvidia’s (NVDA) shares surpassed the $1,100 mark for the first time, ending the Wednesday trading session above $1,140.
This surge in stock value occurred after Elon Musk’s AI company, xAI, announced on Sunday that it had raised $6 billion in a Series B financing, propelling Nvidia’s stock to increase by up to 8% the following day.
Musk intends to employ Nvidia chips in a new “supercomputer”, designed to support xAI’s chatbot, Grok.
This ongoing surge in AI investment fuels optimism about Nvidia’s growth prospects as the chipmaker maintains its streak of record-breaking stock performance.
Last week, Nvidia reported Q1 2015 earnings that surpassed expectations, with year-over-year adjusted earnings skyrocketing by 461% and revenue soaring 262%.
Source: Yahoo Finance
Alongside impressive earnings, Nvidia also declared a 10-for-1 stock split, effective for shareholders recorded as of June 7, to take place on June 10. Additionally, the company raised its quarterly dividend to $0.10 per share, an increase from $0.04.
Nvidia’s market cap swelled to over $2.8 trillion; it was under $2.3 trillion just last week before the earnings announcement. That $500 million jump is more than the combined valuation of its rivals Intel and AMD.
The stock is up over 30% in the last month and +130% year-to-date[1]!
Investors can long Nvidia using our 2x NVIDIA,3x NVIDIA.
Alternatively, traders can short Nvidia using our -1x NVIDIA, -3x NVIDIA.
Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. The views expressed here are of Websim. Leverage Shares in no way endorses these views. If you are unsure about the suitability of an investment, please seek financial advice. View the original at
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