- Nvidia has surpassed Saudi Aramco to become the third-largest public company by market capitalization, reflecting Nvidia’s meteoric rise in AI and graphics chips
- Nvidia now has a market cap over $2 trillion after quickly passing tech giants like Amazon and Google, showing the speed of Nvidia’s growth.
- Driven by the rise of AI like ChatGPT, Nvidia seems poised for continued growth as a leading provider of critical AI hardware that more techs rely on
Nvidia has just passed Saudi Aramco to become the third-largest public company in the world by market capitalization. This reflects Nvidia’s meteoric rise driven by its dominance in AI and graphics chips.
Nvidia’s Market Cap Soars
According to market cap rankings, Nvidia now stands at a market cap of $2.053 trillion, surpassing Saudi Aramco’s $2.046 trillion. Nvidia sits behind only Microsoft and Apple in the rankings. Nvidia’s surge comes from its crucial role in developing advanced computer chips needed for AI. As reliance on AI grows, demand for Nvidia’s chips has skyrocketed.
Passing Tech Giants
Very recently, Nvidia surpassed Amazon and Google (Alphabet) in market cap. Quickly passing Saudi Aramco shows how fast Nvidia’s rise has been. In revenue, Nvidia stands at $34.07 billion, ranking in the top 30 globally. Nvidia’s stock trades at $818.45 amidst the surge.
Outlook
Driven by the rise of AI like ChatGPT, the tech industry has pivoted heavily toward generative AI. Nvidia stands to continue benefiting from this shift. It’s possible Nvidia could soon surpass Apple too. But catching Apple may take more time.
Conclusion
Nvidia’s market cap milestone reflects its dominance in strategic technology like AI and graphics chips. With technology increasingly relying on AI, Nvidia seems poised for continued growth as a leading provider of key AI hardware.
