NVIDIA market value surpasses Amazon, first time in 20 years: $650 billion added since Jan 1

NVIDIA blasted past a $1 trillion market cap last year, but now it's sitting on an incredible $1.78 trillion market cap... that's a $780 billion (yeah, with a B). It hasn't even been a year... and the company hasn't even launched its beefed-up H200 AI GPU, or next-gen B100 "Blackwell" AI GPU.

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NVIDIA's stock has surged an incredible 400% since the beginning of 2023, but the $700 billion+ of added market capitalization -- to put it into other terms -- makes Tesla stock look puny in comparison. Tesla has a market capitalization of $576 billion at the time of writing.

The Kobeissi Letter posted on X: "NVIDIA, $NVDA, is now the 4th most valuable public company in the world, worth $1.84 trillion. Today, NVIDIA's market cap passed both Google and Amazon for the first time in history. Since January 1st, NVIDIA has officially added $650 BILLION in market cap. That's more than the entire value of Tesla in less than 6 weeks. Truly incredible".

Earlier this month, Goldman Sachs increased its share price target for NVIDIA stock by a huge 28%. The firm said: "We increase our FY2025/26 non-GAAP EPS estimates, on average, by 22% as we reflect recent industry data points indicative of robust AI server demand and improving GPU supply. We no longer assume a drop off in Data Center revenue in 2HCY24 and instead model consistent growth through 1HCY25 driven by continued spending on Gen AI infrastructure by the large cloud service providers, a broadening customer profile, and multiple new product cycles".