Nvidia shares reach all-time high after AI component announcements

Nvidia shares surge: AI Nvidia (NVDA.O), the world's most valuable chipmaker, witnessed its shares reach an all-time high on January 8, following the introduction of new desktop graphics processors designed to harness artificial intelligence capabilities. The company's stock surged by 6.4 per cent, concluding the day at $522.53, marking a historic milestone in its trading history.

Nvidia's announcement of the GeForce RTX 40 SUPER Series targeted primarily towards gaming enthusiasts coincided with its broader unveiling of additional components and software centered around artificial intelligence, ahead of the Consumer Electronics Show in Las Vegas.

Strong performance in 2023

Recognised as a frontrunner in supplying processors for AI computing applications, Nvidia experienced a remarkable stock performance in 2023, with its value more than tripling over the year. 

Monday's trading activity underscored this momentum, with transactions exceeding $32 billion, positioning Nvidia as the most actively traded company on Wall Street, according to LSEG data. Consequently, Nvidia's market capitalisation now approaches $1.3 trillion, bolstering the PHLX semiconductor index (.SOX) by 3.3 per cent amid the broader market trends.

(With Reuters inputs)