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Shares of Nvidia jumped 27%, approaching a $1 trillion market
value, after the U.S. chip designer projected quarterly revenue
more than 50% above estimates in a sign that Wall Street has
grossly underestimated its role in powering the artificial
intelligence (AI) revolution.
Nvidia was the most traded stock by retail investors on
Thursday, with 88,962 buy orders outnumbering 86,413 sell orders
by 13:30 p.m. ET, according to J.P.Morgan data.
It was also the most actively traded stock on Fidelity's
platform and the top trending stock on investor focused social
media site stocktwits.com.
Since the start of this year, Nvidia has attracted the highest
net purchases from retail investors after Tesla, Amazon.com Inc
and Apple Inc among single stocks, according to Vanda Research.
(Reporting by Medha Singh in Bengaluru; Editing by Shounak
Dasgupta and Devika Syamnath)
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