According to the recent statistics, NVIDIA has overtaken Google to rank as the third most valuable company in the United States
Known mostly for its graphics hardware, NVIDIA has been incredibly successful lately. Being one of the top providers of AI chips, the company’s valuation has increased due to investors’ optimism about the company’s future potential and the high demand for these goods.
Due to this, the company’s valuation has increased dramatically over the last 12 months, and there are no immediate signs that this will slow down. As of right now, NVIDIA is the third most valuable corporation in the United States, surpassing even Google’s parent company, Alphabet.
The market valuation of NVIDIA has surpassed that of Alphabet
NVIDIA is currently the third most valuable corporation in the United States, surpassing Alphabet, with a market value of over $1.83 trillion. On the list of the most valuable firms in the world, it holds a commanding position as well. Currently ranked fourth on that list, NVIDIA is behind Apple, Microsoft, and Saudi Aramco.
High demand for NVIDIA’s AI processors is a major factor in the company’s valuation climb. Now, it provides chips for 80% of the AI market. LLMs at large tech companies like Meta, Amazon, and Open AI are powered by NVIDIA’s H100. Mark Zuckerberg of Meta made the announcement in the open last month that the company plans to purchase 350,000 NVIDIA H100 chips by the end of 2024.
NVIDIA is bringing a lot of energy and excitement into next week when it formally releases its quarterly report on February 21. Analysts anticipate strong earnings results, which might raise the company’s market worth even further. Various experts’ earnings forecasts for the quarter indicate that revenue would surpass $20 billion, with a 400% increase in net profit to slightly over $11 billion.
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