Nvidia has just become a $1 trillion company, with its rising valuation fueled by tech companies big and small racing to add generative artificial intelligence tools to their products.
AI tools made up the vast bulk of recent Google I/O and Microsoft Build presentations, and Nvidia’s chips make it a key supplier for companies trying to build something with AI.
Over the weekend, Nvidia’s Computex 2023 keynote was full of AI announcements, including a demo of games using its Avatar Cloud Engine (ACE) for Games to support natural language both for input and responses and a new supercomputer built around its latest GH200 Grace Hopper Superchip capable of an exaflop of GPU performance.
Its valuation pushed over the trillion-dollar benchmark as trading opened today at over $400 per share, putting it in the rarified air previously occupied by only a few large companies such as Apple and Microsoft, which each surpassed the significant mark in August 2018 and August 2019, respectively.
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Reuters reports Nvidia’s shares jumped around 25 percent last week, and premarket trading Tuesday morning had the stock hitting up to $404.91, a gain of about 4 percent, as reported by Bloomberg.
Nvidia’s graphics processing units, or GPUs, are critical to generative AI platforms like OpenAI’s ChatGPT and Google’s Bard. The company has historically been a leader in the so-called discrete or stand-alone GPU field, but until recently, many consumers thought of GPUs as primarily used for intensive gaming.
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