Nvidia’s “insane” AI chip demand results in record stock price

Nvidia is the second most precious company on the planet with a market capitalization of over $3 trillion. At market close on Monday, shares of the AI ​​chip maker hit an unprecedented high of $138.07 before falling to $131.32 on the time of writing.

Nvidia’s performance is tied strong demand for its AI chips. Nvidia CEO Jensen Huang recently stated that demand for Nvidia’s Blackwell AI chip is “insane” and “everyone wants the best.” Nvidia expects to supply enough latest chips several billion dollars.

Nvidia was briefly on the sidelines Displace Apple named the most precious company on the planet on Monday. Last week, Nvidia shares rose $400 billion in five daysgreater than Costco’s entire market cap.

Related: Employees who’ve worked at this company for the past 5 years at the moment are “partially retired” multimillionaires

Huang also said last month that demand was his biggest concern, or what kept him up at night.

“We have a lot of people on our shoulders and everyone is counting on us,” he said, adding that access to Nvidia’s technology was a “really emotional” point for the corporate’s customers.

Nvidia counts the largest tech players amongst its customers: Amazon, Meta, Microsoft and Google contribute to this greater than 40% of its sales. Nvidia’s earnings beat analysts’ expectations last quarter. Revenue grew 122% year-over-year, the fourth consecutive quarter of over 100% growth.

Related: Nvidia’s profits have greater than doubled, but traders are still shrugging their shoulders. Here’s why, in accordance with a market expert.