First it toppled Amazon — now Nvidia has passed Alphabet to become the third most valuable US company
Nvidia shares continue to climb
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Nvidiahas now passed Alphabet (parent company ofGoogle) in the list of the world’s most valuable companies.
The news comes just days after the California chipmakerpassed Amazon, and makes it now the third-most valuable company in the US, and the fourth in the whole world.
On February 14, Nvidia’s stock rose over 2%, closing at an impressive $739 per share, pushing its market value to $1.83 trillion, edging past Google’s $1.82 trillion market cap.
Nvidia is on its way to the top
Two symbolic milestones within days of each other highlight Nvidia’s role as a key player in the artificial intelligence landscape, outpacing even some major software companies and cloud providers that incorporate AI technology into their products. Google andAmazonhave also been working on their own AI-capable components, but Nvidia looks to be undisturbed.
Over the past year, Nvidia’s shares have risen by a staggering 225%, driven mostly by soaring demand for its high-end AI server chips. In other words, a lot more than the 52% growth seen by Google and the 70% growth seen by Amazon.Microsoftshares are up 140% in a year.
Previously best known for its consumer graphics processors catering to gaming PCs, Nvidia’s decision to pivot towards AI has proven to be an incredibly lucrative move.
Nvidia is set to report its quarterly earnings on February 21, when analysts expect to hear about a 118% growth in sales, to the tune of $59.04 billion.
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The next US company in its sights to overtake isApple, which currently has a market value of $1 trillion more than Nvidia, so while it could be several years before that happens, its impressive growth rates in recent months have at least given the chipmaker the fuel to reach for the top.
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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!
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