Nvidia has joined the ranks of tech giants worth the eye-watering sum, including Amazon, Apple, Microsoft, and Google parent company Alphabet, as investors expect the company will benefit from the AI revolution.
It makes chips that are key to AI technologies, such as the ChatGPT generative AI chatbot, and on Monday launched a new range of products for AI.
Following that announcement, on Tuesday afternoon one Nvidia share grew to be worth $408.13 leading to the company’s overall worth hitting the $1trn mark for the first time.
The company had been beset by supply chain problems but has overcome them and the share price has been rising steadily. Throughout 2023 Nvidia shares are up 180%.
Last week investors and analysts were encouraged by Nvidia sales projections, which are forecast by the company to reach $11bn in the three months up to July. It’s a 50% increase on analyst expectations.
Nvidia is now more valuable than other chipmakers such as Intel and tech giant Meta.
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