Nvidia Surpasses Alphabet as Third Most Valuable Company
In a significant achievement, Nvidia has overtaken Alphabet, the parent company of Google, becoming the third-most valuable company in the US and the fourth globally.
On February 14, Nvidia’s stock surged by over 2%, closing at $739 per share, elevating its market value to $1.83 trillion, surpassing Google’s $1.82 trillion market cap.
Nvidia’s Ascendancy in AI Landscape
Nvidia emerges as a dominant force in artificial intelligence, surpassing major software and cloud giants like Google and Amazon. Despite their own AI efforts, Nvidia remains unchallenged.
Driven by soaring demand for its high-end AI server chips, Nvidia’s shares skyrocketed by 225% in the past year, far surpassing Google’s 52% and Amazon’s 70% growth. Its strategic shift from gaming processors to AI proves immensely profitable.
Analysts project a remarkable 118% sales growth to $59.04 billion in Nvidia’s upcoming quarterly earnings report on February 21.
With its sights set on overtaking Apple, currently valued at $1 trillion more, Nvidia’s recent exponential growth positions it as a formidable contender for the top spot in the coming years.
