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Reading: Nvidia’s market cap is growing so fast, already breathing down Amazon’s and Alphabet’s neck thanks to increasing AI demand
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News Junction > Blog > Trend > Nvidia’s market cap is growing so fast, already breathing down Amazon’s and Alphabet’s neck thanks to increasing AI demand
Nvidia’s market cap is growing so fast, already breathing down Amazon’s and Alphabet’s neck thanks to increasing AI demand
Trend

Nvidia’s market cap is growing so fast, already breathing down Amazon’s and Alphabet’s neck thanks to increasing AI demand

Published February 10, 2024
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Nvidia up only (Image Source: SDXL)

Team Green seems relentless, with more than 300% gains YoY and is now threatening to overtake Amazon’s and Alphabet’s market cap. Apple and Microsoft might be safe for a while, but with the ever increasing AI accelerator demand, the situation could change sooner than expected.

Since the beginning of 2024, Nvidia’s market cap has increased by almost 50%, jumping from just under $1.2 trillion to now $1.72 trillion. Year over year, Team Green is up more than 300% thanks to the great demand for AI accelerators, and the company is already close to catching up with the 4 biggest companies in the U.S. For reference, Amazon is currently sitting at $1.76 trillion, while Alphabet (Google) is not far ahead at just above $1.8 trillion. With the rapid rise and the ever increasing demand for AI hardware, it would not be too surprising to see Nvidia soon reaching the “endgame boss” league where Apple is sitting at $2.91 trillion and Microsoft is reigning supreme at $3.08 trillion.

Bloomberg reports that, in the past two months alone, Nvidia added Tesla’s entire market cap. However, there are concerns that such gains might not be sustainable, and investors are eagerly awaiting Nvidia’s projections that should be shared in this month’s latest earning call. Nvidia remains at the top of the Nasdaq 100 best performing companies, a position that was earned in early 2023. Team Green is also now a member of the “Magnificent Seven” together with Tesla, Meta, Amazon, Alphabet, Apple and Microsoft, and has been outperforming each and every one of them in the past year.

Due to the tremendous demand for Nvidia AI accelerators, the company essentially holds a monopoly in the market, but Intel and AMD, as well as other smaller companies, are now trying to offer viable alternatives in order to break said monopoly. It might take a few more years before we actually see healthy competition in the AI hardware market, but for now, Nvidia seems poised to rise even more.

 

Buy the MSI Gaming RTX 4080 Super 16G Expert GPU on Amazon

(Image Source: Bloomberg)
(Image Source: Bloomberg)
(Image Source: Bloomberg)
(Image Source: Bloomberg)
Bogdan Solca
Bogdan Solca – Senior Tech Writer – 2233 articles published on Notebookcheck since 2017

I first stepped into the wondrous IT&C world when I was around seven years old. I was instantly fascinated by computerized graphics, whether they were from games or 3D applications like 3D Max. I’m also an avid reader of science fiction, an astrophysics aficionado, and a crypto geek. I started writing PC-related articles for Softpedia and a few blogs back in 2006. I joined the Notebookcheck team in the summer of 2017 and am currently a senior tech writer mostly covering processor, GPU, and laptop news.

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#Nvidias #market #cap #growing #fast #breathing #Amazons #Alphabets #neck #increasing #demand

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