AI boom, data centres and ChatGPT take chipmaker Nvidia's market cap close to $1 trillion

AI boom, data centres and ChatGPT take chipmaker Nvidia's market cap close to $1 trillionCredit: Indiatimes

Indiatimes

4 months ago

Nvidia projected quarterly revenue more than 50% above the average Wall Street estimates and said it could have more supply of AI chips in the second half to meet the demand. This prompted a 24% rally in stock price and one of the largest mcap jumps ever.

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Nvidia, which started out as a graphics card company in the 1990s, has seen its stock surge in recent years due to the rapid growth of AI, data centers, and its new ChatGPT natural language processing platform. This has helped Nvidia reach a market capitalization of approximately $1 trillion, making it one of the most valuable technology companies in the world.

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