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News on Medial
AI optimism drives Nvidia past Amazon, market cap may overtake Alphabet too
Livemint
·
1y ago
Medial
Nvidia is expected to surpass Google's parent company, Alphabet, becoming the third most valuable company on Wall Street. With a market capitalization of $1.78 trillion, Nvidia recently surpassed Amazon's market value for the first time in 20 years. The demand for Nvidia's artificial intelligence (AI) chips, which power AI tasks, has been a driving force behind the company's success. As a dominant player in the high-end AI chip market, Nvidia's stock has seen significant growth, and analysts have raised their price targets for the company.
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Related News
First it toppled Amazon — now Nvidia has passed Alphabet to become the third most valuable US company
Techradar
·
1y ago
Medial
Nvidia has surpassed Alphabet (parent company of Google) to become the third-most valuable company in the US and the fourth globally. This follows its recent overtake of Amazon. Nvidia's market value reached $1.83 trillion, higher than Google's $1.82 trillion. The company's growth has been driven by the increasing demand for its high-end AI server chips. Nvidia is now eyeing Apple as the next target in terms of market value.
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Nvidia set to overtake Apple as world's second-most valuable company at $2.68 trillion
Economic Times
·
1y ago
Medial
Nvidia is poised to overtake Apple as the world's second-most valuable company driven by the increasing adoption of AI applications. The reliance on Nvidia's high-end chips for AI technology, such as OpenAI's ChatGPT, has propelled the stock to nearly triple in value over the past year, reaching $2.68 trillion. Meanwhile, Apple has faced challenges with weak iPhone demand and competition in China, dropping its market value to $2.92 trillion. With Nvidia's explosive growth across gaming, crypto, and AI, it has quickly become a frontrunner in the market, outpacing even tech giants like Amazon and Alphabet.
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Nvidia replaces Alphabet as Wall Street's third most valuable company
Economic Times
·
1y ago
Medial
Nvidia has surpassed Alphabet to become the third most valuable company in the US, following its recent overtake of Amazon. With a market capitalization of $1.825 trillion, Nvidia's rise in stock value is attributed to its dominance in the high-end AI chip market. The company's upcoming quarterly report is highly anticipated, and analysts are optimistic about strong results. However, any disappointment could deflate the current AI-driven market rally. Nvidia's stock is currently trading at around 34 times the expected earnings.
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Nvidia's moves inches closer to surpassing Apple as world's second-most-valuable
Livemint
·
1y ago
Medial
Nvidia has seen a meteoric rise in its market valuation, rapidly closing in on Apple as the world's second-most valuable company. Its market cap has surged from $1 trillion to over $2 trillion in just nine months, surpassing tech giants like Amazon and Alphabet along the way. Nvidia's dominance in the high-end AI chip market has driven its stock price up by 95% this year. However, analysts believe the stock may be nearing its peak, with a median target price of $850 per share. Nvidia's CEO also stirred up discussion by suggesting that artificial general intelligence (AGI) could emerge within five years.
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Tesla investor Cathie Wood says she's been selling Nvidia stock for some time: 'It has become a check-the-box stock'
Business Insider
·
1y ago
Medial
Cathie Wood, founder of Ark Invest, has been selling Nvidia stock due to concerns about overvaluation. Wood believes that the company's expectations have become too high and that its stock has become a "check-the-box" investment. Ark Invest has sold over $4.5 million worth of Nvidia stock this year. Despite acknowledging Nvidia's role in creating the AI age, Wood sees hyperactivity and potential inventory corrections as factors that could impact its stock. Nvidia's market capitalization reached $1.8 trillion last week, surpassing Amazon and Alphabet.
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Nvidia on cusp of overtaking Apple as second-most-valuable company
Economic Times
·
1y ago
Medial
Nvidia is closing in on Apple's position as the world's second-most-valuable company, thanks to its AI-powered chips driving the popularity of tools like ChatGPT. Over the past nine months, Nvidia's market valuation has skyrocketed from $1 trillion to over $2 trillion, surpassing companies like Amazon, Google's parent Alphabet, and Saudi Aramco. With a market capitalization of about $2.38 trillion, Nvidia trails behind Apple by just $230 billion and Microsoft by $645 billion. Nvidia's dominance in the AI chip market has contributed to its stock rally, propelling the company's weight on the S&P 500 index.
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Mega-cap companies saw strong gains in 2023 amid tech optimism
Reuters
·
1y ago
Medial
Global mega-cap tech companies, such as Facebook, Nvidia, and Tesla, witnessed significant market capitalization gains in 2023, driven by optimism surrounding artificial intelligence and expectations of further economic stimulus. Facebook's market cap surged 188%, Nvidia rose 240%, and Tesla's value doubled. However, some analysts view these gains as overvalued and anticipate a broader market rally in the upcoming year, supported by potential rate cuts from global central banks.
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Nvidia is now worth more than Amazon and Alphabet
The Verge
·
1y ago
Medial
Nvidia has surpassed Alphabet (Google's parent company) in market capitalization, making it the world's fourth most valuable company after Microsoft, Apple, and Saudi Aramco. The chip maker's stock is now worth $1.83 trillion, just barely edging out Alphabet's $1.82 trillion market cap. Nvidia is heavily involved in the AI chip industry and its sales predominantly come from major tech companies. It is also set to release a new AI chip, the H200, with improved memory capacity and bandwidth. Additionally, Nvidia has invested $30 billion in a unit that helps other companies create custom AI chips.
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Nvidia overtakes Amazon in market value of $1.78 trillion
Livemint
·
1y ago
Medial
Nvidia briefly surpassed Amazon in market value as its soaring demand for chips used in AI computing fueled a stunning rally. Nvidia ended the day with a market value of about $1.78 trillion, while Amazon closed at $1.79 trillion. Nvidia temporarily became the fourth most valuable US-listed company, just below Alphabet. Nvidia's shares have risen nearly 50% this year, adding about $600 billion in market value. However, Amazon also had a good start to the year with strong sales in Q4 and a forecast for profitability that exceeded estimates.
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AI-focused tech firms see big jump in market cap in June
Economic Times
·
1y ago
Medial
AI-focused chipmakers, including Nvidia and Broadcom, experienced significant increases in their market capitalization in June. Nvidia briefly became the world's most valuable company, with its market cap reaching $3.34 trillion. However, the company later faced profit booking and concerns over its high valuations. Microsoft and Apple also saw their market capitalization rise by 7.6% and 9.6% respectively, while Amazon reached a market value of $2 trillion. Broadcom's market cap increased by approximately 20% after raising its revenue forecast for AI-related chips and announcing a stock split.
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