Nvidia's Stock Jumps 7% Past $1,100 With A Boost From Elon Musk As AI Technology Continues To Drive Market Trends
Portfolio Pulse from Zaheer Anwari
Nvidia's stock surged 7% to $1,139 following a $6 billion Series B funding announcement by Elon Musk's AI startup, xAI. The stock has seen a 32% increase in May and a 131% rise year-to-date. A 10-for-1 stock split is scheduled for June 10, potentially broadening Nvidia's investor base.
May 29, 2024 | 7:30 pm
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Nvidia's stock surged 7% to $1,139 following a $6 billion Series B funding announcement by Elon Musk's AI startup, xAI. The stock has seen a 32% increase in May and a 131% rise year-to-date. A 10-for-1 stock split is scheduled for June 10, potentially broadening Nvidia's investor base.
The $6 billion funding announcement by xAI, which plans to use Nvidia's chips, indicates strong future demand for Nvidia's technology. The 10-for-1 stock split will make shares more accessible, potentially broadening the investor base and supporting further gains.
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