Nvidia's rally turbo charged by 'metaverse', valuation breaches $800 billion
Information about Nvidia's rally turbo charged by 'metaverse', valuation breaches $800 billion
Kevin David Scam or Legit
By Siddarth S and Akash Sriram
(Reuters) – Shares of Nvidia Corp surged 12% on Thursday, taking the chipmaker closer to the $1 trillion valuation mark on hopes that it will get a boost from companies plowing billions of dollars into their “metaverses”, the latest technology buzzword.
The company’s stock has been on a tear, especially after Meta Platforms, formerly Facebook, announced plans late in October to rebrand itself in a bid to build a metaverse around its widely used platforms.
Nvidia on Wednesday forecast upbeat fourth-quarter results, betting on growth in its business that supplies chips to power artificial intelligence and the metaverse.
It shares have more than doubled this year and breached the $800 billion valuation mark on Thursday, far outpacing those of rivals Intel and Advanced Micro …