Nvidia, an American firm, has become one of the biggest beneficiaries of the AI boom. With a market capitalization of over $3 trillion (£2.34 trillion), it is now the world’s second most valuable public company, surpassing Apple in value. Only Microsoft is more valuable on a stock exchange.
Nvidia’s share price has risen significantly in recent years, with one share currently costing $1,224.40 (£957), up from $386.54 (£302) a year ago. The demand for AI technology has been driving this growth, and Nvidia has been quick to capitalize on it by developing microchips with machine-learning features for years.
Tech companies have been racing to develop AI and embed it in their products. Nvidia is no exception, having added machine learning capabilities to its products since its inception in 1993. The company was founded in California and is based in Santa Clara, making it an American multinational corporation and technology company.
On Friday, Nvidia will undergo a “stock split,” which will increase the number of shares available to investors but reduce the share value as a result. This move is expected to further spark interest in the company as more people will be able to invest in its AI technology.
Despite being a younger company than some of its peers, Nvidia has quickly emerged as a major player in the tech industry due to its innovative approach to AI development and strong financial performance. As the demand for AI continues to grow, Nvidia is well positioned to benefit from this trend and maintain its position as one of the world’s leading tech companies.
