2023-05-30 15:00:15
Nvidia Corporation
Chipmaker Nvidia shares jumped 6% following it unveiled a new suite of AI-related products, including an artificial intelligence supercomputer, to help meet customer demand.
The company’s market capitalization has reached $1 trillion, with the stock rising steadily since last week, when it expected a massive increase in revenue from the AI-related business.
The company’s shares have increased by 180 percent since the beginning of the year.
According to a study by “Bank of America” that “Nvidia” comes at the forefront of companies that will benefit from the growth of what is called “generative artificial intelligence”, while the bank “Wells Fargo & Co” saw that the electronic chips to be manufactured at “Nvidia”, occupy It is well positioned to take advantage of the greater computing power needed by AI applications such as ChatGPT.
It is noteworthy that the company “NVIDIA” is the ninth company listed on stock markets in the world, and the fifth listed American company, whose market value becomes one trillion dollars.
And Nvidia’s share profit during the period between February and April 2023 reached $1.09, higher than market expectations by $0.92, while revenues exceeded $7.1 billion, as expectations were to reach $6.5 billion.
And just seven months ago, “Nvidia” shares closed at their lowest level in two years, near $ 112 per share, to now exceed $ 410, and this amazing rise achieved by the stock is due to a main reason that investors are well aware of, which is Nvidia’s possession of the H100 graphics chip that It has been described as legendary, which companies are rushing to obtain despite its high price, due to its enormous capabilities in developing the capabilities of artificial intelligence, and this is what contributed to the transformation of “NVIDIA” into a company that cannot be stopped now.
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