The market capitalization of Nvidia is up to $1.7T, surpassing even Bitcoin, as a result of the exponential growth in the artificial intelligence business.
Nvidia and its stockholders have reaped tremendous benefits from the current surge in artificial intelligence and the excitement around the emerging business. The market valuation of the firm has grown to surpass Bitcoin’s by a significant margin.
As interest in artificial intelligence (AI) has skyrocketed, American semiconductor behemoth Nvidia has reaped several benefits.
Market capitalization for Nvidia was over $950 billion as of the end of October, according to the macroeconomics publication Kobeissi Letter, which was noted on February 6. Its market worth has just surpassed $1.7 trillion, a record high, after a 79% climb since then.
It went on to say that over the course of seventy consecutive trading days, it amounts to an average of $10.7 billion daily. This is the same as adding up Tron’s (TRX) entire market cap daily for the specified time frame. Market valuation for Nvidia is almost six times more than Ethereum’s and over twice that of Bitcoin.
The gap between Nvidia and Amazon, the world’s fifth-largest public business, is less than three percent. Before making his comment, Kobeissi pointed out that Nvidia was not among the world’s 20 biggest public firms only two years ago.
For the time being, they command 70–90% of the world’s AI chip sales. Powered by AI, Nvidia has become one of the biggest firms in history.
In addition, during after-hours trading on February 5, the company’s stock price hit a new all-time high of almost $700. Since this week’s trading began, NVDA prices have increased by 6.2%.
Microsoft, Alphabet, Meta, and Amazon are just a few of the cloud computing companies whose development ambitions rely heavily on Nvidia’s formidable processor array.
Also, later this year, the company will expand its AI-focused range with the addition of the next-generation B100 Blackwell, a powerful processor.
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