Washington, May 30. NVIDIA Corporation’s market capitalization has reached one trillion dollars. After the announcement of the artificial intelligence technology, the value of the company skyrocketed.
Speaking at Computex Taiwan on May 28, NVIDIA CEO Jensen Huang It introduced a new supercomputing platform with artificial intelligence called DGX GH200. According to Huang, the main purpose of the supercomputer is to help tech companies develop successors to the popular AI chatbot ChatGPT.
As a result, the company’s shares rose 7.7% to a record $419.38 in the last session. The sharp increase in NVIDIA’s offerings, which has allowed the company’s capital to exceed a trillion dollars, is also due to the revenue figures released last week. Financial data exceeded estimates by more than 50%, which instantly increased the price of securities by a quarter.
NVIDIA is the ninth company and the first semiconductor manufacturer in history to exceed a trillion dollars. According to analysts, in the near future the company will continue to grow on the wave of further introduction of artificial intelligence technologies.
“While the company’s value seems high at the moment, we believe that Nvidia has a large profit margin as AI GPU adoption is at a very early stage.” — Senior analyst at Summit Insights Group assured Kingai Chan.
Meanwhile, the AI race is gaining momentum. Microsoft announced the development of its own chip that can support applications such as ChatGPT.
Chinese developers, who are under US sanctions and do not have access to the latest American technology, are conducting their own research in this direction.
Source: Riafan
I am Jackson Root, a professional writer and news author at The News Dept. I have been in the industry for over five years now and I specialize in covering trending news stories. I have been part of several high profile projects that made a significant impact on the industry.
