Nvidia (NASDAQ:NVDA) stock is a hot topic among traders on Tuesday as they prepare for the company to reach a $1 trillion valuation.
The big news investors need to know about is NVDA stock surpassing $400 per share today. With that rise, the company’s stock should break past the $1 trillion market capitalization milestone. However, investors will first want to wait until the stock closes above $400 before celebrating.
Granted, it seems likely that NVDA stock won’t slip back down below $400 per share before markets close today. The company’s stock is currently trading at about $412 per share as of Tuesday morning. For the record, its closing price on Friday was $389.46 per share.
What’s Behind the NVDA Stock Rally?
Shares of NVDA stock underwent a massive rally last week after the company revealed its plans for artificial intelligence (). AI has been a profitable sector for investors as the market continues to build hype around the technology.
Nvidia continued that hype today as it announced even more AI-focused products. That includes the new Nvidia DGX GH200 supercomputer as well as Nvidia’s new ACE generative AI platform.
The ongoing AI talk continues to have investors interested in NVDA stock, with some 24 million shares on the move as of this writing. For the record, the company’s daily average trading volume is closer to 46 million shares.
NVDA stock is up 4.7% as of Tuesday morning.
Investors looking for more of the most recent stock market news will want to keep reading!
We’ve got all of the latest stock market news traders need to know about on Tuesday! A few examples include why shares of ChargePoint (NYSE:CHPT) stock and Plug Power (NASDAQ:PLUG) stock are up today, as well as more AI news. You can get up to speed on all of these matters at the following links!
More Tuesday Stock Market News
- Why Is ChargePoint (CHPT) Stock Up 11% Today?
- PLUG Stock Alert: Plug Power Announces New Plants in Finland
- Dear AI Stock Fans, Mark Your Calendars for May 31
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.