NVIDIA Overtakes Amazon in Market Value
According to Bloomberg, NVIDIA Corp., a leading Artificial Intelligence (AI) firm, has surpassed e-commerce giant Amazon.com Inc. in terms of market value. NVIDIA’s market capitalization has reached $1.83 trillion, surpassing Amazon’s $1.80 trillion by $30 billion. This makes NVIDIA the fourth most valuable United States-listed company, trailing behind Alphabet, Microsoft Corp., and Apple.
NVIDIA’s AI Boom
NVIDIA’s rise in market value can be attributed to the growing AI boom. The company’s AI chip technology is being utilized in data centers for complex computing tasks required by AI applications. This expansion into new territories has contributed to the significant increase in NVIDIA shares and market value.
Ripple Effect on Other Firms
The impact of the AI boom extends beyond NVIDIA. Other companies like OpenAI and Microsoft are also benefiting from this trend. OpenAI, led by Sam Altman, has reported revenue surpassing $2 billion, driven by the success of its flagship AI product ChatGPT. Microsoft has also achieved a valuation of over $3 trillion, thanks to its strategic focus on AI.
These milestones indicate that AI is revolutionizing the market, with NVIDIA leading the way.
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