In an astonishing turn of events, Nvidia’s market value has soared past that of tech giants Amazon and Alphabet. This incredible feat is a result of Nvidia’s stock skyrocketing over the past 15 months due to its dominant position in artificial intelligence. With a 17,000% surge in the past decade, Nvidia has outperformed every other S&P 500 company. Its market capitalization currently stands at $1.83 trillion, just above Alphabet’s $1.82 trillion and Amazon’s $1.8 trillion. Nvidia’s success in the AI industry has attracted investors, leading to a massive increase in its stock value. Despite its already impressive financials, analysts believe Nvidia has the potential to further close the gap with trillion-dollar companies like Apple and Microsoft. It will be interesting to see Nvidia’s earnings report next week, with analysts projecting record sales and profits.
https://www.forbes.com/sites/dereksaul/2024/02/12/nvidia-is-now-more-valuable-than-amazon-and-google/