Nvidia’s transition from gaming and graphics GPUs to producing the powerful H100 AI chips allowed the company to lead the market. Nvidia became the first chipmaker to hit the $2 trillion market capitalization mark. They took the third spot in the US after Apple and Microsoft, who got $2.83 trillion and $3.06 trillion valuations, respectively.
The company has proliferated in the last year as a result of its leadership in the AI chip industry. Less than a year ago, Nvidia’s market capitalization crossed $1 trillion. This month, it surpassed Amazon and Alphabet by reaching $1.83 trillion valuation. Nvidia disclosed in their earnings report last week that the company has reached $60.9 billion in revenue in the year 2023, which marks a 126% increase from the year 2022.
Companies like Intel, Microsoft, and OpenAI are attempting to wean themselves off of Nvidia using their own chips, but it’s difficult to match its production and performance capabilities. The H200, Nvidia’s flagship GPU for AI models, was unveiled last year. H200 promises an increased memory capacity and bandwidth. Nvidia plans to release this top-tier GPU in the second quarter of this year. According to the news, Nvidia is developing a new $30 billion business to produce customized AI chips for other companies.
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