Nvidia Heads for $6 Trillion Value as Chips Rally

On the tech front, NVIDIA nearing a $6,000,000,000,000 market capitalization as investors continue buying the stock at a valuation that remains close to multiyear lows. Let's bring in Bloomberg equities reporter Carmen Reinke. Carmen, I feel like that's important part about the story. We are, what, $5.85700000000000 dollars on NVIDIA, somehow it's gotten cheaper along the way. It really has. It's kind of crazy to look at it. I mean, even in the premarket, it's up. We're only a few dollars away from the 6,000,000,000,000 mark. And if you had thought about this just a few months ago, it really wouldn't have seemed like we should be anywhere near that ballpark. But you're right. As you said, NVIDIA's valuation has been very cheap. I think Jensen called it a growth value stock. It trades at about 17 times forward earnings. That's cheaper than the overall S and P 500, and it's very cheap compared to the, you know, monumental growth that the company is still putting up. So it's interesting that we're finally starting to see investors sort of go back into this stock, and there are a few reasons for that. I mean, they had really amazing earnings, which was to be expected. I think that's what everyone sort of anticipates. They had the, you know, largest buyback ever that they announced a few weeks ago. And with high interest rates, the... You know, companies like this look like somewhat of a safe haven. So we're finally starting to see investors sort of go back into NVIDIA after a pretty choppy year. So on one hand, you could say the buyback's responsible. The stock's cheaper. On the other hand, we're always talking about capacity constraints. There's not enough out there. Is this sort of the investor saying, wait a minute. You know, we're appreciative of the buyback, but isn't there a better way to spend this money? I think it could be. I mean, it's definitely a very bullish call. Right? They're saying we believe in this company. We're we're buying it here. I think that NVIDIA... I mean, it's... We've called it a kingmaker for years now, and I think that there's so much, sort of belief around the story here. Right? They believe that Jensen is gonna get the capacity online. It's still, you know, top of mind for the chips business. So if you have to put your money somewhere in an un... Kind of uncertain market, although it feels so silly to say uncertain market when we're near record highs, but there's still tension there. Right? We have high yields. There's some, you know, sort of underlying conflict. This is a great place to go. Carmen, thank you so much. Always a pleasure to have you on Bloomberg's Carmen Reinke.