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Nvidia’s historic rally extends to a record-setting 10th straight week

Economic TimesEconomic Times · 8m
Nvidia’s historic rally extends to a record-setting 10th straight week

Nvidia's stock continues to break records with its historic rally in 2024. It rose 0.4% last week, marking its 10th consecutive positive week, the longest winning streak in its history. In contrast, the Philadelphia Stock Exchange Semiconductor Index experienced its largest one-week drop since January, falling 4% during the same period. Nvidia's stock has gained approximately 80% during the 10-week rally, driven by high demand for AI chips. The company currently holds the position of the top gainer in the Nasdaq 100 Index and boasts a market capitalization of around $2.2 trillion, making it the third-largest publicly traded stock. The upcoming GTC conference, where CEO Jensen Huang will speak, will be a crucial event for the stock.

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