The S&P 500 reached a new high as Nvidia surpassed the $3 trillion mark for the first time, and the anticipation of an interest rate cut grew due to softer-than-expected job data.
S&P 500 all-time high as of 5th June 2024
Similarly, the Nasdaq 100 and Nasdaq Composite achieved new record highs
AI boom catapults Nvidia passed Apple’s market cap’ valuation
Artificial intelligence (AI) chipmaker Nvidia passed Apple’s market cap’ to become the world’s second most valuable company after Microsoft.
Nvidia’s shares have surged 24% following its impressive earnings report in May, in contrast to Apple’s shares, which have increased by only 5% this year amid a slowdown in sales growth in recent months.
Nvidia one year share price as of 5th June 2024
Nvidia Market Cap at $3.01 trillion as of 5th June 2024
