this post was submitted on 08 Jun 2024
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Artificial Intelligence

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Nvidia hits $3T market cap on back of AI boom (old.reddit.com)
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The original was posted on /r/artificial by /u/NuseAI on 2024-06-06 15:12:02+00:00.

  • Nvidia surpassed a $3 trillion market cap, driven by the demand for its chips in the AI sector.
  • It overtook Apple to become the second-largest public company after Microsoft.
  • The stock has soared over 3,224% in the last five years, prompting a 100-for-1 stock split.
  • Nvidia's growth is fueled by the high demand for its GPUs by tech giants like Google, Microsoft, Meta, Amazon, and OpenAI.
  • The company reported a significant increase in sales, reaching $26 billion in the first quarter.

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