US Stock Market: Nvidia takes the throne, S&P 500 sets new record

In the trading session on June 18, US stocks rose, with the S&P 500 index setting a new record as Nvidia surpassed Microsoft to become the company with the largest capitalization in the world.

Nvidia has enjoyed a meteoric rise over the past 18 months thanks to investor interest in the artificial intelligence (AI) sector.

The chip giant's stock price closed up 3.5% to $135.58 per share, raising Nvidia's market capitalization to about $3,335 billion, surpassing two technology giants, Microsoft and Apple.

This session, all three major indexes on Wall Street increased, in which the S&P 500 index increased 0.3% to set a new record of 5,487.03 points; the Dow Jones industrial index increased 0.2% to 38,834.86 points, and the Nasdaq Composite technology index increased less than 0.1% to 17,862.23 points.

This session, Microsoft's market value stood at 3.317 billion USD when its stock price decreased by 0.45%, while Apple's stock price decreased by more than 1%, making the market value of "Apple" at 3.286 billion USD.

Nvidia has also become by far the most actively traded stock on Wall Street, with recent daily turnover averaging $50 billion, compared with about $10 billion for Apple, Microsoft and Tesla, according to LSEG data.

Nvidia shares have nearly tripled this year, compared with a gain of about 19% for Microsoft, as demand for its flagship processors outstrips supply.

Nvidia's astonishing surge in market value over the past year has become emblematic of the frenzy on Wall Street as investors become bullish on the growth of AI technology.

However, some investors worry that the optimism could fade if there are signs of a slowdown in technology spending.

In the Vietnamese market, on June 18, the VN-index increased by 4.73 points (0.37%) to 1,279.50 points, while the HNX-Index increased by 1.27 points (0.52%) to 244.43 points.