Nvidia (NVDA) solidified its status as the world's most valuable company after the semiconductor bellwether's shares gained 2.5% to hit another record on Thursday, as partners Dell (DELL) and Super Micro Computer (SMCI) received server orders for Elon Musk's (TSLA) AI startup.
Nvidia, whose market capitalization surpassed that of Microsoft (MSFT) on Tuesday, was set to add nearly $84 billion to its last close market value of $3.34 trillion at the current level of $138.99.
Market Overview:- Nvidia surpasses Microsoft as the world's most valuable company.
- Dell and Super Micro receive server orders for Musk's AI startup.
- Shares of Dell and Super Micro gain significantly.
- Nvidia's market capitalization set to add nearly $84 billion.
- Microsoft's shares down 1% at $442 in early trade.
- Demand for AI processors drives growth for Nvidia's partners.
- Nvidia's stock price has nearly tripled this year.
- Super Micro shares have more than tripled in value.
- Dell's stock is up nearly 95% this year.
The companies make servers equipped with Nvidia chips, enabling them to capitalize on the surging demand for processors that power virtually all AI applications. Musk said on his X social media platform on Wednesday that Dell and Super Micro are supplying server racks for xAI's supercomputer, which will be used to expand the capabilities of its AI tool, Grok. He said earlier this year that training the Grok 2 model took about 20,000 Nvidia H100 graphic processing units and that the Grok 3 model and beyond would require 100,000 Nvidia H100 chips.
Nvidia's stock price has nearly tripled so far this year, powering the gains in the broader market. Super Micro shares have more than tripled in value during the same period, while Dell's stock is up nearly 95%. The Philadelphia SE Semiconductor Index has risen nearly 34% since the most recent low in April and closed at a lifetime high on Tuesday.
