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Quick Tech News

QuickTechnics

by Alexander Fäh

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NVIDIA's market value briefly reaches $1 trillion thanks to AI boom

NVIDIA is briefly valued at $1 trillion on the stock market.

Massive surge on the stock market due to artificial intelligence; Image: The News Dept

As part of a remarkable surge in the financial markets, NVIDIA briefly achieved a market valuation of over $1 trillion after its stock price reached $419. Although the price retreated to $401.11 during the day, the company's valuation remains high at $992 billion.


In its latest quarterly report, NVIDIA presented impressive profits of over $2 billion, with a significant portion attributed to the sale of graphics cards for artificial intelligence applications.


The company continues to make substantial investments in AI infrastructure and data centers to solidify its leading position in this rapidly growing market. At Computex 2023, NVIDIA also unveiled new gaming characters that can speak naturally thanks to artificial intelligence.


Last autumn, CEO Jensen Huang expressed concerns about an overproduction of graphics cards and was compelled to lower prices to stimulate demand. However, the company experienced remarkable growth in data centers in February, achieving new revenue records.


NVIDIA's success story reflects the impressive advancements in the field of artificial intelligence. With its strong market position and ongoing innovation, the company is driving the development of AI technology and remains a key player in the industry.

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