Now NVIDIA Is The Third Most Valuable U.S. Company, Passing Alphabet

(CTN News) – As a result of the news, Nvidia has overtaken Alphabet, the parent company of Google, in terms of market capitalization. As a result of the artificial intelligence boom, the chipmaker’s stock has soared, making it the latest example of how the stock has risen as well.

NVIDIA was up over 2% to close the day at $739.00 per share, giving it a market value of $1.83 trillion, which is higher than Google, which has a market cap of $1.82 trillion. Earlier this week, NVIDIA surpassed Amazon in terms of its market value for the first time in its history.

On the back of the high sales of AI chips, NVIDIA has become a Wall Street darling, valued even higher than some of the large software companies and cloud providers that are also developing and integrating AI technology into their products to bring their customers the best possible experience.

NVIDIA shares have increased by more than 221% over the past 12 months as a result of a robust market for its AI server chips that can cost more than $20,000 each at the moment. Google and Amazon, two of the world’s largest cloud service providers, need thousands of them to run their cloud services.

NVIDIA WAS BEST KNOWN FOR ITS CONSUMER GRAPHICS PROCESSORS, WHICH IT SOLD TO PC manufacturers to build gaming computers, a less lucrative market before the recent AI boom.

In many ways, Google was expected to benefit from the advent of artificial intelligence, especially since employees pioneered many of the techniques used in cutting-edge models like ChatGPT, such as the transformer architecture.

In spite of the fact that Google shares are still up 55% in the last 12 months, the company has dealt with layoffs and culture problems, after declaring a “code red” situation to integrate AI services into its products.

Earlier this week, Google announced the launch of one of its first paid products for generative AI called Gemini Advanced, which costs $20 per month.

Currently, Nvidia is the third largest U.S. company, behind only Apple and Microsoft in terms of revenues. The quarterly earnings report for Nvidia will be released on February 21st. According to analysts, sales for the company are expected to grow by 118% to $59.04 billion over the next year.

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