"Nvidia's strength as the backbone of artificial intelligence got its stock up to $170 recently, which made it the first company in history to have a market cap of $4 trillion."
"Nvidia's market share is estimated at 90% of the AI chips used to build server farms, which are at the center of the AI growth of every company in the sector."
Nvidia Corp. CEO Jensen Huang seeks to regain market access in China, affecting its AI accelerator business, valued at $50 billion. After the U.S. government blocked sales, Nvidia's stock fell sharply from $133 to $95. However, strong growth in AI pushed its stock up to $170, securing a historic $4 trillion market cap. The recent approval for selling H20 chips in China may add significant revenue, potentially increasing its growth rate closer to 80%. Nvidia commands 90% of the market for AI server farm chips, benefiting major companies like Microsoft and Meta.
Read at 24/7 Wall St.
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