State of Play. 29 August 2024
The rise of Nvidia
The surge in artificial intelligence (AI) has fuelled a boom in technology stocks, with companies capable of supporting this growth seeing the greatest benefits. The Magnificent Seven stocks (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla) have capitalised on the expansion of AI, playing a significant role in the stock market's recent positive performance. Among this group, Nvidia may be the least familiar name, yet it has experienced the most remarkable growth due to AI, and now ranks as the world's second most valuable company.
Let’s dive deeper into the story behind Nvidia's remarkable ascent in this week's State of Play.