The article discusses NVIDIA’s stock performance and its potential to reach a $1 trillion market capitalization by 2024, driven by the company’s leadership in artificial intelligence (AI) and the growing demand for its chips. According to analysts, NVIDIA’s dominance in AI computing and its ability to capitalize on the AI boom have fueled its stock’s impressive gains. The company’s graphics processing units (GPUs) are widely used in AI applications, including machine learning and deep learning, giving NVIDIA a significant advantage in the rapidly expanding AI market. The article highlights NVIDIA’s strong financial performance, with its data center business, which includes AI-related products, growing by 67% in the latest quarter. Analysts predict that NVIDIA’s AI-focused strategy and its cutting-edge technology will continue to drive its growth and potentially propel its market capitalization to $1 trillion by 2024, making it one of the most valuable companies in the world.
Source: https://abcnews.go.com/Technology/wireStory/nvidias-stock-market-1-trillion-2024-rose-ai-110505431