BUZZ-Nvidia briefly surpasses Amazon in market value

Shares of Nvidia briefly surpassed Amazon in market value, reaching a record high of $734.96. Nvidia's market value was $1.82 trillion, while Amazon's was $1.81 trillion. This is the first time Nvidia has been more valuable than Amazon since 2002. Nvidia's stock has surged 223% in the past 12 months, driven by the strong demand for AI. Nvidia is scheduled to report Q4 results on Feb. 21.

** Shares of Nvidia (NVDA.O) up 2.9% at $742.33

** The world’s most valuable chipmaker briefly surpassed Amazon.com (AMZN.O) in market capitalization

** At a record high of $734.96, Nvidia was worth $1.82 trillion in market value, compared to $1.81 trillion for Amazon.com and a few billions away from Google-owner Alphabet’s (GOOGL.O) $1.87 trillion, per LSEG data

** The last time Nvidia was more valuable than Amazon was in 2002, when they were each worth under $6 bln

** The bet on strong AI demand has supercharged Nvidia shares, making it the best performing stock among the so-called “Magnificent Seven” with a 223% surge over the past 12 months

** Meta Platforms (META.O) is second best with a 163% rise in the same period

** Nvidia is scheduled to report Q4 results on Feb. 21