Chipmaker Nvidia’s (NVDA) stock has risen 25% in the last month and is trading near an all-time high.
Nvidia’s share price is currently at $132.65 U.S., having increased 10% in the last five trading sessions.
That puts the shares near their record closing high of $135 U.S. reached in June of this year shortly after the company executed a 10-for-1 stock split.
The current rally in Nvidia’s stock comes as investors pile back into semiconductor and microchip companies, particularly ones associated with artificial intelligence (A.I.).
Other chip stocks are also rallying, with Broadcom’s (AVGO) stock up 26% and Advanced Micro Devices’ (AMD) stock up 20% in the last month.
The current rally in chip stocks accelerated after Taiwan Semiconductor Manufacturing Co. (TSM) reported a 40% year-over-year increase in its September sales.
Taiwan Semiconductor is a foundry that manufactures about three-quarters (75%) of the world’s microchips, including Nvidia’s processors. Its sales are viewed as a good sign for Nvidia and demand for its A.I. chips.
Nvidia’s stock is now up 175% this year and remains one of the best-performing securities in the benchmark S&P 500 index.
Related Stories
