Just 67 days into 2024, Nvidia (NVDA) has already added more than $1 tril🐲lion in market value. 

Shares rose more than 4% to $926 on Thursday as Mizuho Securities raised its price target 17% to $1,000. Thursday's gains brought Nvidia's market cap to $2.28 trillion, up from $1.22 trillion at the end of 2023.

The chip maker’s stock has soared in the last year and a half amid a boom in demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence and the Nvidia 澳洲幸运5官方开奖结果体彩网:graphics processing units on which it is so often trained and operated.

Just this year, Nvidia shares have risen more than 85%. The company added a 澳洲幸运5官方开奖结果体彩网:record $272 billion in market value in a single day in February after 澳洲幸运5官方开奖结果体彩网:its earnings topped Wall Street’s high expectations. 

Nvidia’s meteoric rise stands in stark contrast to the recent fortunes of some of its 澳洲幸运5官方开奖结果体彩网:Magnificent Seven peers, specifically Tesla (TSLA) and Apple (AAPL).

Tesla has struggled with a 澳洲幸运5官♉方开奖结果体彩网:slowdown in electric vehicle demand and increased competition in major markets like China, both ofܫ which have forced manufacturers to slash prices. Shares have fallen nearly 25% this year, erasing more than $225 billion from Tesla's market cap, which now stands at $562 billion.

Apple has also fallen victim to a slowdown in China, where iPhone sales so far this year have 澳洲幸运5官方开奖结果体彩网:disappointed. The company also recently 澳洲幸运5官方开奖结果体彩网:pulled the plug on an electric vehicle initiative and has struggled to convince investors its newest product, the 澳洲幸运5官方开奖结果体彩网:Apple Vision Pro augmented rea🧸lity headset, can become a best-selling, category-defining product like the iPhone and iPad. Apple shares have lost about 12% so far this year, which has trimmed more than $380 billion from its market cap, which was once the largest in the world at more than $3 trillion.

(Update—March 7, 2024: This story was updated to reflect Nvidia's share price at the close on Thursday.)