2024-02-24 18:00:00
Written by Samah Labib Saturday, February 24, 2024 08:00 PM The market value has reached For Nvidia It has officially reached $2 trillion, making it the first chip manufacturer to cross that threshold, and it’s also the third U.S. company to be worth more than $2 trillion, behind Apple ($2.83 trillion) and Microsoft ($3.06 trillion), according to theverge.
The California-based company has seen rapid growth over the past year due to its leadership in the artificial intelligence chipset market. Nvidia’s market value reached $1 trillion just less than a year ago, leaving both Amazon and Alphabet in the rearview mirror as it became a company valued at $1.83. Trillion dollars earlier this month.
As part of its earnings report last week, Nvidia revealed record revenues of $60.9 billion in 2023, representing a 126% increase from 2022, and other companies, such as OpenAI, Microsoft, and Intel, are working to reduce dependence on Nvidia with their own AI chips. But matching their performance and production capabilities is a goal that remains difficult to achieve.
Last year, Nvidia announced the H200, the successor to its flagship H100 GPU for AI models, which promises more memory capacity and higher bandwidth.
Nvidia plans to release a high-end GPU in the second quarter of 2024, and is also working on a new $30 billion business venture that would make custom AI chips for other companies, according to a report from Reuters.
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