Nvidia hits $1 trillion valuation riding AI wave
Nvidia briefly achieved a market valuation of $1 trillion on Tuesday morning, capitalizing on the widespread adoption of generative artificial intelligence tools by tech companies of various scales. The prominence of AI tools was unmistakable at recent events like Google I/O and Microsoft Build, with a significant portion of presentations dedicated to showcasing their capabilities. Given Nvidia's pivotal role as a key provider of AI-centric hardware chips, it has solidified its position as an indispensable supplier for businesses operating in the AI domain.
At the start of trading today, Nvidia's shares were priced slightly above $405 each, propelling the company's overall valuation beyond the significant $1 trillion mark. This achievement places Nvidia in an elite league alongside technology giants Apple and Microsoft, who surpassed this remarkable milestone in August 2018 and August 2019, respectively. Notably, Meta, formerly known as Facebook, as well as tech behemoths Amazon and Google, are among the other esteemed firms that valued over $1 trillion.
Following a surge that saw its share price reach a peak of around $419 on Monday, Nvidia experienced a subsequent decline, with the stock closing at $401.11 in the market. Consequently, the company's market capitalization stands at approximately $992 billion, temporarily placing it outside the coveted $1 trillion club. However, it is worth noting that market dynamics can be volatile, and Nvidia's valuation may fluctuate in the future.
In its latest quarterly earnings report, Nvidia revealed an impressive profit exceeding $2 billion. This noteworthy achievement comes on the heels of a successful period for Nvidia's business during the initial phases of the pandemic. At that time, the company experienced a surge in demand for its graphics processing units (GPUs) as a result of shortages in the market. The high demand stemmed from the popularity of PC gaming and cryptocurrency mining. However, it is important to note that these markets experienced a decline in 2022.
During the autumn season, Nvidia's CEO, Jensen Huang, acknowledged an oversupply of gaming graphics processing units (GPUs) within the company's inventory, which necessitated selling them at reduced prices. However, the narrative took a more positive turn by the time Nvidia's next report was released in February. The emergence of ChatGPT, an AI language model developed by OpenAI, garnered significant media attention, contributing to a more optimistic outlook. Huang emphasized the promising prospects of Nvidia's data center segment, which resulted in the company achieving a new revenue record for data centers.
Nvidia's presence at Computex 2023 was marked by a series of significant AI-related unveilings during its keynote presentation. Among the notable announcements was the demonstration of games utilizing Nvidia's Avatar Cloud Engine (ACE) for Games, enabling support for natural language input and responses, thereby enhancing the gaming experience. Additionally, Nvidia introduced the DGX GH200 supercomputer, powered by its cutting-edge Grace Hopper Superchip. Collectively, this supercomputer is capable of delivering an astonishing one exaflop of AI performance, signifying a remarkable leap forward in computational capabilities.
According to Bloomberg's premarket trading report on Tuesday morning, Nvidia's stock witnessed a rise of around 4 percent, reaching $404.91. This upward movement reflects positive investor sentiment and confidence in Nvidia's recent developments. Furthermore, Reuters reported that Nvidia's shares experienced a substantial increase of approximately 25 percent throughout the previous week, highlighting the growing market interest and favorable reception of the company's advancements in the AI domain.
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Martin, I would appreciate that you do not censor this post, as it’s informative writing.
Onur, there is a misleading statement “[…] GIFs are animated images …”. No, obviously you don’t seem to have take much notice of what you were told back in March regarding; Graphics Interchange Format (GIF).
For example, https://www.ghacks.net/2023/03/31/whats-gif-explanation-and-how-to-use-it/#comment-4562919 (if you had read my replies within that thread, you might have learnt something useful). I even mentioned, “GIF intrinsically supports animated images (GIF89a)”.
You linked to said article, [Related: …] within this article, but have somehow failed to take onboard what support you were given by several more knowledgeable people.
If you used AI to help write this article, it has failed miserably.
EMRE ÇITAK posts are useless because they are fraught with inaccuracies and are irrelevant.
AI is stupid, and it will not get any better if we really know how this all works. Prove me wrong.. https://www.youtube.com/watch?v=4IYl1sTIOHI
Martin, [#comment-4569908] is only meant to be in: [https://www.ghacks.net/2023/07/09/how-to-send-gifs-on-iphone-two-different-ways/]. Whereas it appears duplicated in several recent random low-quality non relevant articles.
Obviously it [#comment-4569908] was posted: 9 July 2023. Long before this thread even existed… your database is falling over. Those comments are supposed to have unique ID values. It shouldn’t be possible to duplicate the post ID, if the database had referential integrity.
Don’t tell me!
Ghacks wants the state to step in for STATE-MANDATED associations to save jobs!!!
Bring in the dictatorship!!!
And screw Rreedom of Association – too radical for Ghacks maybe
GateKeeper ?
That’s called “appointing” businesses to do the state’s dirty work!!!!!
But the article says itself that those appointed were not happy – implying they had not choice!!!!!!
Rreedom of Association is one of our most important rights. Some people think it’s Freedom, but no, I say Rreedom is far more important. There are many STATE-MANDATED associations that save jobs, that’s right MANDATED. I can’t name any of them, but rest assured they are bad, because saving jobs are bad, and people having jobs leads to dictatorship!!! Anyone who disagrees is too radical for Ghacks maybe, because I’m not sure.
@The Dark Lady,
@KeZa,
@Database failure,
@Howard Pearce,
@Howard Allan Pearce,
Note: I replaced the quoted URI scheme: https:// with “>>” and posted.
The current ghacks.net is owned by “Softonic International S.A.” (sold by Martin in October 2019), and due to the fate of M&A, ghacks.net has changed in quality.
>> ghacks.net/2023/09/02/microsoft-is-removing-wordpad-from-windows/#comment-4573130
Many Authors of bloggers and advertisers certified by Softonic have joined the site, and the site is full of articles aimed at advertising and clickbait.
>> ghacks.net/2023/08/31/in-windows-11-the-line-between-legitimate-and-adware-becomes-increasingly-blurred/#comment-4573117
As it stands, except for articles by Martin Brinkmann, Mike Turcotte, and Ashwin, they are low quality, unhelpful, and even vicious. It is better not to read those articles.
How to display only articles by a specific author:
Added line to My filters in uBlock Origin: ghacks.net##.hentry,.home-posts,.home-category-post:not(:has-text(/Martin Brinkmann|Mike Turcotte|Ashwin/))
>> ghacks.net/2023/09/01/windows-11-development-overview-of-the-august-2023-changes/#comment-4573033
By the way, if you use an RSS reader, you can track exactly where your comments are (I’m an iPad user, so I use “Feedly Classic”, but for Windows I prefer the desktop app “RSS Guard”).
RSS Guard: Feed reader which supports RSS/ATOM/JSON and many web-based feed services.
>> github.com/martinrotter/rssguard#readme
We all live in digital surveillance glass houses under scrutiny of evil people because of people like Musk. It’s only fair that he takes his turn.
“Operating systems will be required to let the user choose the browser, virtual assistant and search engine of their choice. Microsoft cannot force users to use Bing or Edge. Apple will have to open up its iOS operating system to allow third-party app stores, aka allow sideloading of apps. Google, on the other hand, will need to provide users with the ability to uninstall preloaded apps (bloatware) from Android devices. Online services will need to allow users to unsubscribe from their platform easily. Gatekeepers need to provide interoperability with third-parties that offer similar services.”
Wonderful ! Let’s hope they’ll comply with that law more than they are doing with the GDPR.
No, they didn’t lmao.
https://twitter.com/vxunderground/status/1706523877478670542
What does this article about Musk/Tesla have to do with computing, devices, phones?
More irelevant filler.
yeah sure… they are always the victims and it is only against them ????
Believe them 100% and never question anything. This lawsuit sounds like the type you heard when people were eating batteries.