Traders work on the New York Stock Exchange trading floor during afternoon trading on April 9, 2024.
Michael M. Santiago | Michael M. SantiagoGetty Images
Nvidia’s stock price surged more than 5%, its market value exceeded $3 trillion, and it surpassed Apple. Earlier this week, the company announced its next-generation artificial intelligence chip, called “Rubin.”
“If you were to design a perfect power company from the ground up, Nvidia is the one to do it,” New York University finance professor Aswath Damodaran said Wednesday on CNBC’s “Closing Bell.” “You have a great story, a CEO who sticks to that story…and you have a market that helps mix things up. I think you’re seeing one of the greatest dynamics of all time play out right in front of you.” “
Wall Street is awaiting Friday’s May non-farm payrolls report, with investors looking for signs of labor market weakness that could support a rate cut by the Federal Reserve. Private employment data from ADP on Wednesday showed hiring slowing.
Revenue comes from JM Smack It will be released Thursday, along with reports on continuing jobless claims and initial jobless claims.
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