Since October 2022, NVIDIA’s market valuation has experienced an astounding 560% surge, catapulting it from being less than half the size of the Sensex in May 2023 to now surpassing it. In contrast, the combined market capitalization of the top 30 companies in the country has seen a more modest increase of 30% during the same period.
NVIDIA, which lagged behind the Sensex by more than 50% in May 2023, has witnessed an impressive 560% surge in its market valuation since October 2022. This remarkable growth has propelled its market capitalization to exceed that of the Sensex. In contrast, the collective market capitalization of the top 30 companies in the country has seen a comparatively modest 30% increase during the same timeframe.
NVIDIA’s remarkable stock market rally has shattered numerous records in recent times. With a staggering market capitalization of nearly $1.9 trillion, NVIDIA now eclipses the combined market capitalization of all 30 companies listed on the Sensex.
Interestingly, in May 2023, NVIDIA was less than half the size of the Sensex, but since October 2022, its market valuation has surged by a phenomenal 560%. In contrast, the collective market capitalization of India’s top 30 companies experienced a more modest 30% increase during the same period.
In May of last year, NVIDIA achieved the prestigious milestone of joining the exclusive $1 trillion market value club. Furthermore, it is poised to set a record for the largest single addition in market capitalization, with a staggering nearly $250 billion increase in value.
Nvidia Shares Surge 15% in Pre-market Trading Following Strong Q4 Results, Reflecting High Demand for AI Hardware.
In pre-market trading on Thursday, shares of Nvidia continued their upward momentum, surging as much as 15%. The stellar performance in the fourth quarter hinted at a significant surge in demand for artificial intelligence computing hardware.
Reliance Industries, with a market capitalization of $242 billion, holds a weightage of 14% in the Sensex’s market capitalization. Tata Consultancy Services (TCS) contributes an additional 10% to the index’s market valuation, while HDFC Bank accounts for 7.4% of the total market capitalization of the top 30 companies in the country.
Here’s the data for Market Capitalization in trillion dollars for NVIDIA Corporation and Sensex on different dates:
| Date | NVIDIA Corporation | Sensex |
|---|---|---|
| 22-02-2024 | 1.91 | 1.76 |
| 29-12-2023 | 1.22 | 1.70 |
| 30-12-2022 | 0.36 | 1.45 |
| 31-12-2021 | 0.74 | 1.57 |
| 31-12-2020 | 0.32 | 1.26 |
(Please note that the values are in trillion dollars.)
Indian Mutual Funds Hold Stake in Nvidia Worth $132 Million as of December 2023.
As of December 2023, four prominent Indian mutual fund houses – Axis, ICICI, Mirae, and Motilal Oswal – collectively held approximately 1.7 lakh shares of Nvidia, with a current valuation of about $132 million.
Nvidia, in its latest earnings report on Wednesday, announced a remarkable revenue of $22.1 billion for the fourth quarter ending January 28, 2024. This figure marked a notable 22% increase from the previous quarter and an impressive 265% surge compared to the same period last year. The surge in revenue was attributed to robust demand for AI chips, particularly the high-performance “Hopper” chips like the H100, designed for servers.
Following the strong quarterly performance, analysts swiftly revised their target prices for Nvidia’s stock. Morgan Stanley, which holds an overweight rating on the stock, raised its 12-month target price to $795 from $750. The brokerage firm noted that Nvidia’s quarterly results exceeded high expectations and emphasized the remarkable strength in demand for AI technologies.