Nvidia Surges 223,731% Since 1999, Records $277B Gain, AI Boom Fuels 450% Increase

Nvidia has experienced a monumental surge in its market value, with a 223,731% increase from its 1999 low to the all-time highs this year, significantly benefiting from the AI boom. This surge has contributed to Nvidia, along with Meta, Microsoft, and Amazon, accounting for over 90% of the Nasdaq 100's market cap gains this year. Citi Research, with analyst Christopher Danely, has expressed continued optimism in Nvidia, setting a $820 price target. The Nasdaq 100 index itself has seen a $1.6 trillion increase in market cap in 2024, with these four companies contributing 95% of that growth. Nvidia's share price alone has surged by almost 450% since January 2023. Additionally, Nvidia is leading the $85 billion accelerator market, according to Bank of America analysts. The company's performance has also outpaced Bitcoin, with Nvidia up 238.99% in the last year compared to Bitcoin's 171.5% increase. Notably, Nvidia recorded one of the biggest single-day market cap gains of $277 billion.