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Nvidia’s market cap surpassed Amazon’s for the first time since 2002 in Tuesday’s trading amid strong demand for artificial intelligence (AI) chips. CNBC reports this, according to Ukrinform.
CNBC reports this, according to Ukrinform.
After the transaction closed, the value of one Nvidia share was $721.28, and the company’s total market value was $1.78 trillion. Against Amazon’s $1.75 trillion market cap.
While Nvidia surpassed Amazon for a short time on Monday, for the first time since 2002, Nvidia surpassed Amazon after the closure.
It is stated that Nvidia’s main product in 2002 was graphics cards for personal gaming computers. But Nvidia shares are up more than 246% in the past 12 months on strong demand for server AI chips that can cost more than $20,000. per unit
Tech giants Microsoft, OpenAI and Meta need tens of thousands of AI chips to run products like ChatGPT and Copilot.
At the same time, Amazon shares have increased by nearly 78% in the last 12 months.
As Ukrinform reports, the American company Nvidia has introduced a new H200 graphics processor designed for training generative artificial intelligence models.
Photo: Nvidia GTC
Source: Ukrinform
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