Nvidia, the 31-year-old Taiwanese engineering company headquartered in Santa Clara, California, has recently become the most valuable company in the world with a market capitalization of US$3.345 billion. This unprecedented growth has been driven by advancements in Artificial Intelligence (AI), which Nvidia has successfully leveraged more than other industry giants.
Nvidia’s stock price has experienced a significant increase, rising by 3.8% on the day in question and consolidating a six-month rally that resulted in an increase of 178.15%. The company also announced a split of its shares, making it eligible to enter the Dow Jones index. With sales reaching US$28 billion in the last quarter, Nvidia produces chips used in data centers, chatbots like ChatGPT and other AI processes.
The CEO of Nvidia, Jensen Huang, defines the company’s success as “the beginning of a new industrial revolution,” predicting widespread dissemination of AI technology across various industries over the next decade. The company’s annual revenues have increased significantly and its trajectory gained strength over the last year and half, surpassing expectations. Nvidia’s specialized components for AI processes have fueled its growth with annual revenues reaching US$60.9 billion, representing a year-on-year increase of 126%.
Nvidia’s success has positioned it at the forefront of the technology industry and propelled it to surpass its competitors and set new records. With continued focus on AI technology and specialized components, Nvidia’s growth trajectory shows no signs of slowing down.
