Nvidia stock is stuck in a rut. But it's still up huge for the year
Ever since shares of Nvidia (NVDA) reached an all-time high in June, the chipmaker’s stock has experienced some turbulence — but its market cap is still up over 150% so far this year.
Nvidia’s shares were up 2.37% during mid-day trading Monday at $123.73 per share — down around 9% from its record-high close price of $135.58 on June 18, days after it initiated a 10-for-1 stock split.
Still, the chipmaker’s shares have climbed around 156.86% so far this year, boosting its market cap just above $3 trillion and making it the third-most valuable company in the world. Compared with a year ago, Nvidia’s stock is up over 190%.
The company has been one of the biggest winners of the generative artificial intelligence boom due to high demand for its Hopper graphics processing units, or GPUs, which are used for training and inferencing of some of the world’s most powerful AI models. Meanwhile, samples of Nvidia’s latest AI platform, Blackwell, are shipping to customers, and the product is expected to ramp up in the fourth quarter into fiscal year 2026. In August, reports that Blackwell was delayed due to design flaws sent Nvidia’s shares down.
In June, Nvidia briefly surpassed Apple in total market cap and crossed the $3 trillion threshold for the first time. Just weeks later, it overtook both Apple and Microsoft to become the world’s most valuable public company. Despite falling back into third place, Nvidia remains the most valuable semiconductor company in the world. In February, it became the first semiconductor company to reach a $2 trillion valuation after reporting record fourth-quarter earnings.
However, despite reporting another record quarter that beat Wall Street’s expectations, Nvidia’s shares slipped in August, reflecting unimpressed investors who want more from the chipmaker.
