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Monday, April 22, 2024

Nvidia’s position within the AI wave has made it a $2 trillion firm

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Nvidia has formally hit a $2 trillion market capitalization, making it the primary chipmaker to cross the brink. It’s additionally the third US firm to achieve over a $2 trillion valuation, proper behind Apple ($2.83 trillion) and Microsoft ($3.06 trillion).

The California-based firm has seen speedy development over the previous yr as a consequence of its management within the AI chip market. Nvidia’s market cap reached $1 trillion solely lower than one yr in the past, and it left both Amazon and Alphabet within the rearview mirror because it turned a $1.83 trillion firm earlier this month.

As a part of its earnings report last week, Nvidia revealed a document $60.9 billion in income in 2023, marking a 126 % enhance from 2022. Different corporations, like OpenAI, Microsoft, and Intel, are working to lower reliance on Nvidia with AI chips of their very own, however matching its efficiency and manufacturing capabilities is a purpose that’s nonetheless exhausting to achieve.

Screenshot: Emma Roth / The Verge

Final yr, Nvidia announced the H200, the successor to its flagship H100 GPU for AI fashions, which guarantees larger reminiscence capability and bandwidth. Nvidia plans on releasing the high-end GPU within the second quarter of 2024. It’s additionally engaged on a brand new $30 billion enterprise that may make customized AI chips for different corporations, according to a report from Reuters.

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