Chip maker, Nvidia, has joined the ranks of companies valued over $1 Trillion such as Alphabet Inc., Amazon.com Inc., Apple Inc. and Microsoft Corp. Fewer than 10 companies globally have ever achieved this level.
Founded in 1993 by three American computer scientists, Jensen Huang (CEO), Curtis Priem, and Christopher Malachowsky, NVIDIA is known for developing integrated circuits, which are used in everything from electronic game consoles to personal computers (PCs).
The stock price rose 4.3% in New York trading on Tuesday (May 30), gaining a market cap of $1.02 trillion. The upward trajectory is based on the growing interest and investments in Artificial Intelligence.
The rapid success of OpenAI’s ChatGPT, owned by OpenAI, has sparked interest among tech giants like Alphabet and Microsoft to leverage the potential of generative AI. This advanced technology enables human-like conversation and the creation of a wide range of content, including jokes and poetry.
In a related story, the company unveiled new products designed to power artificial intelligence (A.I.) applications. The new products include an AI supercomputer platform and a platform called Nvidia ACE that will put generative AI to work in video game development.
According to the company in an event in Taiwan, the AI supercomputer named “DGX GH200” will help technology companies create successors to chatbots such as ChatGPT. So far Google Cloud, Facebook parent Meta, and Microsoft are among the first companies that will get access to the supercomputers, Nvidia said.
The recent wave of announcements highlights Nvidia’s transition from being primarily a manufacturer of computer graphics chips to emerging as a key player in the thriving AI industry.
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