The Nvidia Age Is Here
Nvidia has toppled Google's Alphabet and in the process has proven that hardware has a future.
Nvidia continues to march higher, as the AI chipmaker’s market cap topped Alphabet’s, and a day after surpassing Amazon’s. Nvidia closed up 2.5% on Wednesday, giving it a market value of $1.83 trillion, just ahead of Alphabet’s $1.82 trillion, according to Bloomberg. Nvidia shares have soared nearly 50% in 2024, increasing the stock’s value by more than $600 billion, thanks to runaway demand for chips for artificial intelligence applications from tech giants like Microsoft (LinkedIn parent) and Meta. Nvidia is now the world’s fourth-most valuable company. Investors will likely learn more about what’s ahead for Nvidia when it releases its quarterly earnings on February 21.