Nvidia Reclaims $5 Trillion Market Cap, Hits New All-Time Closing High

Gate News message, April 24 — Nvidia surged 4.2% on Friday, reclaiming a market value above $5 trillion and closing at $208 per share, an all-time closing record. The single-day rally added over $200 billion to the chipmaker’s market cap, with the stock reaching an intraday high of approximately $5.12 trillion.

Nvidia now leads Alphabet by roughly $1 trillion in market capitalization, extending its dominance in the AI hardware sector. The stock gained 20% in April and is up 101% over the past 52 weeks, erasing a 6.4% decline in the first quarter. The broader S&P 500 rose 32.2% in the same 52-week period, while the Technology Select Sector SPDR ETF climbed 57.4%.

The stock strength was bolstered by strength in semiconductor stocks, including gains following Intel’s earnings report and Oklo’s nuclear power deal for AI infrastructure. Nvidia’s next major catalyst is its May 20 earnings report, when analysts expect diluted earnings of $1.70 per share, up 120.8% year-over-year. Out of 49 analysts covering the stock, 44 rate it Strong Buy, with an average price target of $268.80, implying 34.6% upside from current levels.

The gains also followed Nvidia’s release of Ising, an open-source AI model suite designed for quantum computing that reduces qubit calibration time from days to hours and delivers 2.5x faster real-time decoding compared to existing solutions.