How AI helps Nvidia reach the trillion-dollar club

The AI ​​race helped Nvidia reach a market capitalization of nearly a trillion dollars by selling expensive chips for artificial intelligence training systems.

Nvidia last week reported its financials for the first quarter of 2023, mentioning an "incredible increase" in chip demand for next-generation AI systems, and forecast strong growth in the next quarter. according to. Following the announcement, Nvidia's market capitalization increased 24% from $750 billion to $935 billion.

As of the end of May 27, the company's share price reached $ 390, bringing the market capitalization to nearly $ 970 billion, much higher than the figure of $ 400 billion in January.

In just 5 months, the US chip company has surpassed Tesla and Facebook ($584.7 billion and $647.6 billion respectively), and is expected to soon join the trillion-dollar club with the "big" companies. technology Apple, Google, Microsoft and Amazon, and the oil company Saudi Aramco.