Nvidia achieved a groundbreaking market valuation of $4 trillion, marking a significant milestone in its rapid rise linked to the artificial intelligence surge. The company, founded in 1993 and notable for creating the graphics processor unit, saw its stock price soar from $14 at the start of 2023 to over $164. With specialized chips powering AI technologies, Nvidia's revenue surged by 69% to $44.1 billion, while profits reached $18.8 billion. Wall Street anticipates continued robust sales and profit growth due to the AI boom that has influenced the broader market positively.
Nvidia’s innovation powered its rise, rapidly outgrowing Microsoft, Apple, Amazon, and Google parent Alphabet, establishing dominance in the AI chip market and influencing the S&P 500.
Nvidia topped $4 trillion in value due to a surge in demand for its AI chips, reporting a profit of $18.8 billion and a revenue surge of 69%.
Chipmaker Nvidia's GPUs are crucial for artificial intelligence developments, including generative AI technologies, reinforcing the company's status as a leader in the tech industry.
Huang has described AI as the next industrial revolution, with Nvidia's chips designed for tasks far beyond those of general-purpose CPUs, emphasizing their efficiency.
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