Nvidia hits all-time high share price and market cap of $5.7 trillion

The world's most valuable company, Nvidia, hit a new all-time high on October 2, surpassing the previous peak of $235.54 per share, giving the American chipmaker a market capitalization of $5.7 trillion. Yahoo Finance reports this.

At the time of writing, the cost reached $235.58 per paper.

The success of Nvidia, which specializes in the development of graphics processors and related networking and other systems, is due to the ongoing artificial intelligence boom, which is directly related to spending on AI infrastructure, despite some doubts about its sustainability.

In its second-quarter results released in August, Nvidia beat analysts' expectations, reporting revenue of $96.2 billion and projecting growth to $105.8 billion to $110.1 billion for the July-September period.