NVIDIA has surpassed Amazon to become the fourth most valuable US company. The tech giant saw its shares rise by 2.9% yesterday which put the market value at $1.38 trillion.
At the moment, NVIDIA now sits above Amazon but below Alphabet, Apple and Microsoft. We already know that Microsoft overtook Apple earlier this year after the company saw a huge investment from shareholders due to its generative AI focus. This saw Microsoft overtake Apple as the world’s most valuable company.
- Microsoft – $3.11 trillion
- Apple – $2.9 trillion
- Alphabet – $1.85 trillion
- NVIDIA – $1.83 trillion
Analysts expected NVIDIA’s market cap to grow even more this year as investors spend more money on AI development.
“Amazon was actually among the winners in the current earnings season as Amazon’s outlook is improving. Nvidia is just riding the first investment wave of the current AI boom with massive capital expenditures being deployed in data centers”
NVIDIA will see an even bigger jump when the rumoured Switch 2 console is announced next month. Nintendo has leveraged a custom NVIDIA chip in its new console. Reports claim that NVIDIA has been a key partner for Nintendo developing the new hardware. It is also said to make use of NVIDIA DLSS upscaling.
NVIDIA has also recently launched its final batch of 40-series GPUs in the form of the RTX 4070 SUPER, RTX 4070 Ti SUPER and RTX 4080 SUPER. I reviewed the RTX 4070 SUPER and two models of the RTX 4080 SUPER including the ASUS ROG Strix and RTX 4080 SUPER Gigabyte Gaming OC model.
NVIDIA is expected to showcase its 5000-series GPUs later this year. The hardware is currently in development under the codename “Blackwell”.