NVIDIA Stock Surges, Regains Title as World’s Most Valuable Company and Joins Dow Jones Industrial Average

NVIDIA‘s stock has seen a significant surge, pushing the company back into the top spot as the world’s most valuable company by market capitalization. On Tuesday, November 5, NVIDIA shares rose by 2.4% in intraday trading, lifting the chipmaker’s market cap to approximately $3.44 trillion, surpassing Apple‘s market cap of $3.37 trillion.

The rise in NVIDIA’s stock is largely driven by the increasing demand for its chips, which are crucial for powering artificial intelligence (AI) technology. This demand has led to record highs in both revenue and stock price for the company this year. Big tech customers such as Meta and Google parent Alphabet have ramped up their spending on NVIDIA’s chips, further boosting the company’s financial performance.

In addition to its market capitalization milestone, NVIDIA has also been announced to join the Dow Jones Industrial Average (DJIA) on Friday, November 8. The company will replace Intel in the index, a move aimed at ensuring more representative exposure to the semiconductor industry. This inclusion is expected to make the Dow Jones more attractive to investors, particularly those interested in growth stocks and AI technology.

As of Wednesday, November 6, NVIDIA’s stock opened at $139.91, with the company having a market capitalization of $3.43 trillion. The stock has more than doubled in value since the start of the year and continues to show an uptrend, with technical analysis indicating support levels between $120 and $125.