Nvidia’s stock has been boosting the value of both S&P 500 and NASDAQ at the New York Stock Exchange. On Tuesday, the company saw a 3.2% increase in share value, pushing its market capitalization to $3.33 trillion. With this increase, Nvidia surpassed Microsoft as the world’s most valuable publicly traded company.
The growth in Nvidia’s value can be attributed to its AI-related earnings. The chip-maker has been benefiting from the increasing demand for artificial intelligence technologies, with about 80% of the chips used by data centers being produced by Nvidia. The company’s business with data centers grew significantly over the past year, accounting for 86% of its total sales.
Nvidia’s share prices have been steadily rising, posting a 172% gain during the first quarter of the fiscal year. The company accrued $26 billion in revenues during this quarter, marking a substantial increase compared to the previous year. Nvidia, along with Microsoft and Apple, are the only publicly traded companies with a market capitalization exceeding $3 trillion.
This recent surge in Nvidia’s value follows the launch of its free artificial intelligence app, ChatGPT. The company’s continued success in the AI industry has positioned it as a leader in the market and has solidified its status as a top player in the tech sector.
In conclusion, Nvidia’s growth is largely driven by its AI-related earnings and its success in meeting demand for artificial intelligence technologies used by data centers worldwide. Its business with data centers grew significantly over