The shares of the Silicon Valley firm have rallied roughly 147% this year, adding about $1.8 trillion as the insatiable demand for its chips used to power artificial intelligence tasks skyrockets.
Nvidia Corp. was already the world’s most valuable semiconductor firm. Now, it’s become the first computer-chip company ever to hit $3 trillion in market capitalization.
Nvidia has shown no signs of slowing down or letting its rivals catch up; the company’s Chief Executive Officer Jensen Huang said the firm plans to upgrade its so-called AI accelerators every year. Wednesday’s stock gain increased his wealth by more than $5 billion to $107.4 billion, according to the Bloomberg Billionaires Index.Illegal trash dumping is a problem in Silicon Valley. Here’s how one South Bay town is trying to solve it.
The company has been arguably the biggest beneficiary of a massive flood of AI spending, helping vault the company into a race to claim the title as the world’s most valuable company. The chipmaker still trails Microsoft Corp. by market value, but with shares on a tear Wall Street sees it as only a matter of time before Nvidia overtakes it.
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