Nvidia's valuation soared to $3.34 trillion, surpassing Apple and Microsoft, fueled by the AI boom and high demand for its GPUs essential for AI systems.
Nvidia now dominates over 80% of the global market for AI chips, prompting tech giants like Amazon and Google to develop their own chips to reduce reliance on Nvidia.
Nvidia's rapid growth led it to be one of the 12 companies in history to lead the S&P 500 by market value, raising concerns among analysts about the sustainability of such growth.
Jensen Huang, Nvidia's CEO, is optimistic about the company's future growth, envisioning a 10-year cycle of proliferating generative AI technology across all industries.
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