Nvidia $NVDA has just overtaken Amazon $AMZN for the first time in two decades as the fourth-most valuable US-listed company; now, it’s on track to surpass Alphabet $GOOGL as the company with the third-biggest market capitalization.
The AI chipmaker could soon be the third-most valuable company
Nvidia $NVDA has just overtaken Amazon $AMZN for the first time in two decades as the fourth-most valuable US-listed company; now, it’s on track to surpass Alphabet $GOOGL as the company with the third-biggest market capitalization.
The companies’ current market caps, as of 9:55 am ET:
With Nvidia controlling more than 80% of the AI chip market share, and because generative AI is a red-hot industry, “overall demand far outstrips supply,” as Mizuho analyst Vijay Rakesh wrote.
The Santa Clara, California-based company makes the highly sought-after H100, the $30,000 chips dominating the generative AI market. And Nvidia’s customers like Google and Meta $META are paying billions for these chips to fuel AI systems that power their generative AI products.
Nvidia reports earnings on Feb. 21 after the market close.
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