Posted 2/15/2024, 3:45:00 PM
Nvidia Becomes 3rd Most Valuable U.S. Company Amid Surging Demand for Its AI Chips
- Nvidia is now the 3rd most valuable U.S. company with a market cap over $1.8 trillion, surpassing Amazon and Alphabet
- Nvidia stock is up 50% this year fueled by demand for its chips to power AI systems like ChatGPT
- Nvidia makes top AI chips needed by major players like Microsoft and Meta building generative AI products
- Massive deals for Nvidia's new H100 chips from Microsoft and Meta worth $4.5B each amid an AI chip buying frenzy
- Nvidia holds 80% share of the AI chips market but faces rivals like AMD and in-house chips from big customers