This week’s remarkable surge in stock prices aided Nvidia, a well-known designer of computer processors, in approaching the trillion dollar valuation mark.
Nvidia’s market value has risen by 24% to a whopping $939.3 billion. This is a higher valuation than Facebook ($647.6 billion) and Tesla ($584.7 billion).
Nvidia is presently one of the most valuable companies in the world, only surpassed by tech behemoths such as Apple, Google, Microsoft, Amazon, and Saudi Aramco, the world’s largest oil corporation by production.
The release of Nvidia’s most recent quarterly data, which were made public in the latter portion of Wednesday, was the reason for this massive increase. The company stated that it intends to enhance chip production to meet the market’s rising demand.
Nvidia has successfully consolidated its lead in the market for CPUs used in artificial intelligence (AI) systems.
Following ChatGPT’s public debut in November, the industry witnessed an unprecedented surge of interest that extended far beyond the field of technology.
ChatGPT has grown in popularity as an AI tool that assists in a range of professions, including speechwriting, computer programming, and even culinary efforts.
All of these accomplishments, however, are underpinned by dependable computer technology, with a concentration on Nvidia’s cutting-edge CPUs.
Nvidia, which was formerly renowned for creating computer chips primarily used for graphics processing, particularly in computer gaming, is now a crucial component of the majority of AI applications.
During ChatGPT training, Nvidia graphics processing units (GPUs) were frequently utilised. Specifically, 10,000 of these GPUs were deployed and clustered inside a Microsoft supercomputer.
This supercomputer is just one of many built with Nvidia hardware. The American chip manufacturer now controls approximately 95% of the GPU market for machine learning.