Nvidia Corp (NASDAQ:NVDA) has become the world’s second-largest asset by market value after its market cap soared to above $5.5 trillion ahead of next week’s highly awaited earnings report.
Nvidia Outstrips Silver
According to an X post by The Kobeissi Letter on Wednesday, the AI chipmaker surpassed silver as “the second largest asset in the world, worth $5.52 trillion.” NVDA shares soared about 67% over the past year and closed at $225.83 on Wednesday.
Silver is worth $5 trillion in market capitalization. The precious metal is hovering near $87 per ounce and has gained about 168% over the past year. The rally is being driven less by Federal Reserve rate-cut speculation and more by surging industrial demand.
Industrial applications now account for roughly 60% of global silver consumption, with solar photovoltaic …
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