Nvidia Hits $2 Trillion Valuation on Soaring AI and Cloud Demand
• Nvidia surpassed $2 trillion market cap, becoming world’s 3rd most valuable company behind Apple and Saudi Aramco
• Nvidia posted $22 billion in revenue for Q4 2022, a 270% annual increase
• Growth driven by booming demand for AI and accelerated computing, especially Nvidia’s new H100 chip
• Microsoft, Meta, Alphabet, Amazon, Oracle are top customers, spending billions on Nvidia chips
• Some skepticism remains about durability of Nvidia’s market dominance amid tech bubble fears