Artificial Intelligence Frenzy Drives Nvidia To Surpass Amazon’s Market Cap

At a record high of $734.96 a share, Nvidia was worth $1.82 billion on the stock market on Monday, compared with $1.81 billion for the retail giant.

It was also close behind Alphabet, the holding company that owns Google, which had $1.87 trillion, according to LSEG data.

The last time Nvidia was more valuable than Amazon was in 2002, when the two companies were each worth less than $6 billion.

After Amazon’s better-than-expected holiday sales, investors are eyeing Nvidia’s quarterly results, which will be announced on February 21.

47% increase since the beginning of the year

Expectations are high, with the stock up 47% year-to-date, making it the biggest gainer among the S&P 500’s components.

Nvidia’s explosive quarterly results and strong estimates show that the chipmaker was in pole position in providing technology to companies working on generative artificial intelligence, such as ChatGPT or imaging applications.

Betting on strong demand in artificial intelligence has made Nvidia the fastest-growing company in the “Magnificent Seven” group, with a 223% stock appreciation over the past 12 months.

Meta Platforme, the owner of Facebook, Instagram and WhatsApp, is in second place, with a 163% increase in shares.

Microsoft, the big winner

In January, Microsoft overtook Apple to become the world’s most valuable company, with Alphabet in third place.

Right now, Microsoft has a market cap of $3.085 billion, Apple has a market capitalization of $2.889 billion, and Alphabet has $1.841 billion.

the company that makes ChatGPT, and integrates its technology into many of its products.

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Barack
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