The article discusses the surge in Nvidia’s stock market value, which briefly touched $3 trillion, driven by the company’s leading position in artificial intelligence (AI) technology. Nvidia’s shares soared over 24% on Thursday, propelling its market capitalization to an all-time high. The company’s graphics processing units (GPUs) are essential for AI applications, particularly in areas like generative AI and large language models. Nvidia’s CEO, Jensen Huang, highlighted the company’s role in powering the AI revolution, stating that “the age of AI is here, and Nvidia is the leader.” The article also mentions that Nvidia’s market value surpassed that of tech giants like Microsoft and Alphabet, reflecting investors’ confidence in the company’s AI capabilities. However, the stock’s meteoric rise has raised concerns about a potential bubble, with some analysts warning of overvaluation risks. Despite these concerns, Nvidia’s dominance in the AI hardware market positions it as a key beneficiary of the rapidly growing AI industry.
Source: https://abcnews.go.com/Business/wireStory/nvidias-stock-market-touches-3-trillion-rose-ai-110873366