Update the textbooks as the Nvidia era has started: “Nvidia added more than $276 billion in market value Thursday, more than any company has in a single day. The move highlights how dramatically the chip maker has grown—and how powerfully investors expect it to keep performing. Driven by explosive sales and profit growth that have made the firm the poster child for a coming boom in artificial-intelligence technology, Nvidia has risen to become the third-most-valuable U.S. company, with its market value touching $2 trillion on Friday.
“A year ago, it was ranked seventh, with a market value of $512.6 billion. Nvidia late Wednesday reported earnings that surged more than eightfold and quarterly sales that more than tripled from a year earlier, growth that stands out even among the so-called Magnificent Seven group of tech titans.”
The rise of AI and the dominance of Nvidia. Please make time to understand how AI will affect your career or your business. Next week, at Tekedia Mini-MBA, we will be looking on AI. Orakwe John, MBA, a Tekedia Institute Faculty, and one of the best in educating on AI, will be teaching. He dropped this line: “after the session, all participants will be able to generate a website for their business and many other possibilities” with AI.
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A New Era Is Here
Nvidia’s market cap topped $2 trillion briefly Friday, after adding over $277 billion to its total value the previous day, and topping Meta’s record for the biggest-ever jump in a single day. CEO Jensen Huang declares “a whole new industry is being formed,” while analysts say the AI boom still has more room to run. Major tech firms will likely keep spending on AI “to best one another in the AI race,” even if it doesn’t lead to immediate profits, writes The Wall Street Journal. Meanwhile, generative AI hasn’t yet fully embedded itself in the corporate world or daily life, suggesting further room for growth.
- One counterpoint, from Fortune: “Stiffer competition will cause prices and profitability to drop. The latest surge just made the adjustable mountain Nvidia must climb far steeper.”
- Nvidia cited Huawei as a top competitor for the first time in an SEC filing.
- The chips are so valuable they’re delivered to Cisco by armored car.
Artificial Intelligence (AI) in Business Masterclass | Immediate Access, $400 or ?200,000
And later in the program, yours truly, Ndubuisi Ekekwe, will use my Saturday session to examine AI. My engineering PhD is in electrical & electronics engineering with focus on microelectronics and robotics. At Carnegie Mellon University, ranked #1 in AI and autonomous systems in the world, I taught engineering. My company, Fasmcro, is Intel’s only African programmable microprocessor partner, and we have received massive documents for the future. We will go a little deeper into the technical element of AI and broad robotics systems.
The rise of AI. Please make time to understand how AI will affect your career or business.
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Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.