Nvidia's function within the AI ​​wave has made it a $2 trillion firm

Nvidia has formally achieved a $2 trillion market capitalization, making it the primary chipmaker to cross this threshold. It’s the third US firm to achieve a valuation of greater than $2 trillion, proper after Apple ($2.83 trillion) and Microsoft ($3.06 trillion).

The California-based firm has seen fast progress within the final yr resulting from its management within the AI ​​chip market. Nvidia's market cap reached $1 trillion simply lower than a yr in the past, and it overtook each Amazon and Alphabet because it turned a $1.83 trillion firm earlier this month.

As a part of its earnings report final week, Nvidia revealed document $60.9 billion income in 2023, representing a 126 p.c enhance from 2022. Different firms like OpenAI, Microsoft, and Intel are working to cut back dependence on Nvidia with AI chips. their very own, however matching its efficiency and manufacturing capabilities is a purpose that’s nonetheless exhausting to achieve.

Final yr, Nvidia introduced the H200, the successor to its flagship H100 GPU for AI fashions, which guarantees increased reminiscence capability and bandwidth. Nvidia plans to launch high-end GPUs within the second quarter of 2024. In line with a report, it’s also engaged on a brand new $30 billion enterprise that can make customized AI chips for different firms. reuters,