Nvidia’s market value surpasses US$700 billion: Report 

Nvidia’s annual GTC Developer Conference may highlight the opportunities brought by the theme of “meta-universe”, which stimulated investor optimism, which made its stock price hit more than 19 months on Thursday. The largest single-day percentage increase.

According to data, Nvidia’s stock price rose 12.04% on Thursday, the largest increase since the 17% rise on March 24, 2020. For the first time, the company’s first market value exceeded US$700 billion, and its valuation as of Thursday’s close was US$745 billion.

Stay tuned with us via Telegram

Moreover, Nvidia will hold a GTC conference on November 8. The conference is expected to focus on discussing various issues related to artificial intelligence. Wells Fargo analyst Aaron Rakers wrote late Wednesday that Nvidia may officially launch a generic version of its Omniverse Enterprise platform during the conference, seeking to take advantage of the “meta-universe” opportunity.

Furthermore, the public beta version of Nvidia’s Omniverse platform, an open virtual platform that allows creators to collaborate in real-time in physics-accurate simulation or 3D rendering. Lax wrote that in the near future, Omniverse will have an inflection point in its application in the enterprise field, especially in the field of design.

He believes that Metaverse can bring new revenue opportunities to Nvidia. In the next five years, the company’s potential market is expected to grow by at least US$10 billion. In a report to clients later on Wednesday, Larks raised Nvidia’s target stock price from $245 to $320, and rated the stock as “overweight.”