Nvidia became the ninth company in history to pass the $1 trillion market cap on Tuesday.
Last week, the share rose more than 32 percent after it was reported that trading volume for the current quarter would be 50 percent higher than Wall Street analysts’ estimates. Most of the growth was driven by demand for AI chips.
Nvidia has already surpassed owner Facebook Meta in terms of market capitalization, which is valued at $671 billion, Tesla, which is valued at $612 billion, and luxury conglomerate LVMH, which is valued at $449 billion.
Companies with a market capitalization of more than $1,000 billion
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During a speech at Computex in Taiwan this weekend, Nvidia CEO Jensen Huang also revealed a new AI-powered computer called the “DGX GH200.” The purpose of the computer is to help technology companies develop successors to popular chatbot ChatGPT, according to Huang.
Major technology companies such as Microsoft, Meta, and Google’s Alphabet are expected to be among some of the major users of computers.
Huang also announced a new service called Nvidia ACE for gaming, which is aimed at the video game industry. Ace will use artificial intelligence to give the background characters in the games more personality.
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