Nvidia: AI frenzy puts Nvidia ahead of Amazon in market value

israel: Israel's judicial proposals prompt startups to relocate: government agency


Nvidia briefly surpassed Amazon.com Inc in market capitalization on Monday, as the euphoria around artificial intelligence catapulted the chipmaker to the fourth most valuable U.S. company.

At a record high of $734.96, Nvidia was worth $1.82 trillion in market value, compared to $1.81 trillion for retail giant Amazon.com and a few billions away from Google-owner Alphabet’s $1.87 trillion, according to LSEG data.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
IIT Delhi IITD Certificate Programme in Data Science & Machine Learning Visit
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
IIM Kozhikode IIMK Advanced Data Science For Managers Visit

The last time Nvidia was more valuable than Amazon was in 2002, when they were each worth under $6 billion.

After Amazon’s higher-than-expected holiday quarter sales last month, investors are looking to Nvidia’s quarterly results on Feb. 21, the last of the megacap firms to report this earnings season.

Expectations have run high heading into the report with shares gaining 47% year-to-date, making it the biggest gainer among S&P 500 components.

Blowout quarterly results and strong forecasts from Nvidia a year ago established that the chip designer was at pole position in supplying to tech companies working on so-called generative AI like chatbots and image creation.

Discover the stories of your interest


The bet on strong AI demand has supercharged Nvidia shares, making it the best performing stock among the so-called “Magnificent Seven” with a 223% surge over the past 12 months. Meta Platforms is second with a 163% rise.Microsoft in January overtook Apple to become the world’s most valuable company, with Alphabet at the third spot.



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *