NVIDIA's Market Cap Rises Nearly $500 Billion, Approaching Tesla's Entire Valuation

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At the beginning of 2024, NVIDIA's (NVDA.US) stock price continues to climb, adding approximately $500 billion in market capitalization in just about six weeks—nearly equivalent to the entire market value of Tesla (TSLA.US). Driven by AI, NVIDIA's stock surged over 200% last year. So far this year, it has risen another 40%, with its market cap increasing by $489 billion to $1.71 trillion at Monday's close. This means NVIDIA is highly likely to surpass Amazon (AMZN.US) and Alphabet (GOOG.US), becoming the third most valuable U.S. company, trailing only Microsoft (MSFT.US) and Apple (AAPL.US).