Nvidia Stock Surges 82.5% in Q1 2024: What Drove the AI Leader?

Nvidia's Stock Soars, Fueled by the Generative AI Revolution

In an extraordinary first quarter of 2024, Nvidia's stock surged by an impressive 82.5%, making it the standout second-best performer on the S&P 500 index. This remarkable rally positioned Nvidia, a pioneer in artificial intelligence (AI) chips, just behind Super Micro Computer—a server specialist reaping the rewards of the burgeoning demand for AI products and services. To put this into perspective, the S&P 500 itself advanced by 10.2%, hitting an all-time high, while the Nasdaq Composite index enjoyed a 9.1% gain.