In another big step, chip maker Nvidia has increased its market value to more than 2 trillion dollars. This pioneering company in the field of artificial intelligence and graphic processing has been able to establish its position among the most valuable companies in the world by taking advantage of the growing wave of demand for products related to artificial intelligence.
Shares of Nvidia rose more than 4 percent in trading on Friday, pushing the company's market value to more than $2 trillion. The rise in stock value comes on the heels of the company's strong sales report this week, which shows growing demand for its products in the AI market.
During the company's performance report to investors, Nvidia CEO Jensen Huang stated that demand for their products is increasing worldwide. The company's sales have more than doubled in the last year and reached 60 billion dollars.
Valued at $1 trillion less than a year ago, Nvidia is now the fourth most valuable publicly traded company in the world. It follows tech giants Microsoft and Apple, as well as Saudi Arabia's oil company Aramco. However, Nvidia's market capitalization was just under $2 trillion at the close on Friday, as its shares fell slightly after an early peak.
Founded in 1993, Nvidia first started to produce various graphics cards. But the company began adding machine learning capabilities to its chips long before the AI revolution, and it was this move that helped attract investments and increase its market share. Currently, Nvidia is recognized as a key company in the rapid expansion of AI-based technologies in the business world. The company's stock price has more than tripled in the past 12 months, and on Thursday, buyers added $277 billion to Nvidia's stock, the largest one-day gain in Wall Street history.
US-based technology analyst Bob O'Donnell told the BBC earlier this week that AI is “now really penetrating all kinds of companies around the world, not just specialist tech companies”. According to him, this is a real milestone for the AI industry, as it is used in various sectors, including automotive, telecommunications and large enterprises, to help them design, plan networks and gain insights from data.
Do you think Nvidia's rapid growth in artificial intelligence will continue?
Latest Passing over countries : Spain | Dominica | United Arab Emirates
RCO NEWS
