Tech giant Nvidia secured $277 billion in stock market value, which is Wall Street’s largest one-day gain in history after the heavyweight chipmaker’s quarterly report beat expectations and reignited a rally fueled by optimism about artificial intelligence. The company's stock surged up 16.4% to close at $785.38, which is a record-high close, lifting its market capitalization to $1.96 trillion after its January-quarter report. The report also showed demand for its specialized chips used in AI computing continued to outpace analysts’ already-high expectations.

California-based company The Santa Clara's, report triggered a global rally in technology stocks linked to AI, uplifting the S&P 500, Europe's STOXX 600 and Japan's Nikkei share average to record highs. The traders exchanged $65 billion worth of Nvidia's shares on Thursday, accounting for almost a fifth all trading in S&P 500 stocks.

Nvidia surpassed a $2 trillion market cap compared to Apple’s $2.8 trillion. The company has surpassed Amazon, Google, Tesla, Meta and Netflix. The only one left standing is Apple and we have 2.5 years left to make good on my prediction. Nvidia is exhibiting operating leverage on a scale probably never before witnessed, meaning that it is booking big earnings increases as a share of every dollar of new revenue.

For FY 2024 (ended Jan. 31), Nvidia grew GAAP revenues by 126% to $61 billion, and raised net income almost sixfold, to $29.8 billion. Nvidia is exhibiting operating leverage on a scale probably never before witnessed, meaning that it is booking big earnings increases as a share of every dollar of new revenue.

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