The article discusses the race between Amazon and Nvidia to become the next U.S. company to reach a $1 trillion market capitalization, following Apple, Microsoft, and Alphabet. Amazon’s stock has surged over 50% this year, fueled by its cloud computing business and AI capabilities. Nvidia, a leading chipmaker for AI systems, has seen its stock more than double in 2023 due to the AI boom. The article highlights the growing importance of AI and cloud computing in driving growth for tech giants. It also notes that while Amazon is closer to the $1 trillion mark, Nvidia’s smaller size gives it an advantage in potentially reaching the milestone faster. The race reflects the increasing dominance of a few tech behemoths and the market’s enthusiasm for companies at the forefront of AI innovation.
Source: https://apnews.com/article/amazon-stock-market-nvidia-trillion-ba07ba784fe537e1fac7e7d22efc91b7