Nvidia's market value surpassed Amazon's
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Nvidia surpassed Amazon in market capitalization ($1.78 trillion vs. $1.75 trillion) due to demand for AI chips. Nvidia shares closed at $721.28. The company supplies chips to Microsoft, OpenAI, and Meta, which use them in their ChatGPT and Copilot products. Analysts expect annual sales growth to reach $59.04 billion.
Nvidia surpassed Amazon in market capitalization, driven by the boom in AI chips.
AI chips helped Nvidia overtake Amazon in market capitalization. This is a sign of high demand for AI semiconductors and investor interest in companies that produce chips.
Nvidia's shares closed at $721.28 per share, giving it a market value of $1.78 trillion, while Amazon's market capitalization stands at $1.75 trillion.
In 2002, Nvidia's main products were graphics cards for gaming PCs. Nvidia's shares rose due to demand for artificial intelligence chips, which are needed by companies such as Microsoft, OpenAI, and Meta. They use them for products like ChatGPT and Copilot.
Analysts expect annual sales growth to $59.04 billion.
Source: cnbc.com
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