Nvidia has taken 2024 by storm, with retail investors pouring in nearly $30 billion, according to Vanda Research. The company’s stock price has skyrocketed over 180% this year, surpassing the SPDR S&P 500 ETF Trust (SPY) and Tesla as a fan favorite. Nvidia’s dominance is attributed to its cutting-edge GPU technology fueling AI advancements across industries.
Joining the Dow Jones Industrial Average, Nvidia is now the index’s shining star and the second-most valuable company in the US. Retail portfolios have doubled their Nvidia exposure this year, making it the second-largest holding after Tesla. Experts say this is just the beginning of a long AI cycle, with Nvidia perfectly positioned to dominate.
Nvidia’s relevance spans from autonomous vehicles to data centers, ensuring its dominance for years to come. As one investor notes, Nvidia isn’t just a stock, but a movement. Retail investors are making their play, and the message is clear: they’re all in on Nvidia’s AI-powered future.
Source: https://finance.yahoo.com/news/nvidia-just-redefined-retail-investing-145828251.html