Nvidia co-founder and CEO Jensen Huang speaks at an event in Taipei, Taiwan, June 2, 2024.
Annabelle Chronicle | Bloomberg | Getty Images
Nvidia’s stock price rose to a new high on Thursday as investors returned to the artificial intelligence industry, which has been slightly stagnant since the summer. The stock rose more than 3% at one point, hitting a new intraday high of $140.89.
This new high broke the previous record of $140.76 set on June 20.
NVIDIA, 5 years
Nvidia hits intraday record British Semiconductorthe world’s largest chip manufacturer, Exceeded third-quarter profit expectations Profits increased by 54%. The company produces wafers for apple, nvidia, AMD and arm.
Nvidia stock price hits Monday’s closing high was $138.07breaking the previous record of $135.58 set on June 18.
Companies include Microsoft, Yuan, Google and Amazon are buying Nvidia GPUs in bulk to build larger and larger clusters of computers for their advanced artificial intelligence work. The companies are all scheduled to report quarterly results at the end of October.
NVIDIA said recently Demand for its next-generation AI GPU, called Blackwell, is “insane” and the new product is expected to bring in billions of dollars in revenue in the fourth quarter.
— CNBC’s Kif Leswing contributed to this report.
